R¢g16ter¢d number: 00980152 Charity numbor: 301731 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Limitsd by Guarnntee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Umlted by Guarantw) CONTEKrs Page Relerenco and Admlnlstratlvo Dolalls of the Charlty. Its Truthes and Advlsors Trustees. R•port 3-12 Independent Audltors, Report on th• F￿￿n¢la1 Slatements 13-16 Statement of Financlal A¢tlvltios 17 Balanc• Sh••t 18-19 Statement of Cash Flow8 20 Nolos to the Flnanclal Statsm•nts 21-50 ThE BASINGSTOKE AND DISTRICT SPORTS TrUST uMrrED {A Conwany Guarant•0) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 Trustees Martyn Wiliam Richard Frosc Chaimw {resigned 14112r2021) Vincent John Matich. Trustee (resigned 14112r2021) Elke Jackson. Trustee {re5igned 25110f2020} Jacqueline Ann Isgar, Trustee (resigned 14112r2021) Mark Austin Clancy. Vice Chaimian I Secretary (resigned 1411zr2021) Councillor Dsn Putty JP, Trustee Iresigned 14112r2021) Lynda Pickering. Trustee {resigned 08110r2020) Thomas P￿ton Millar, Trustse (resigned 1411%2021) Dr Robert Walker. T￿stee (resigned 14112r2021) Vivien¢ Whiteakor, Truste• Iresigned 28104r2020) Melanie Roberts. Tn￿lee (apkKMnted 22109r2020. reSIg￿d 14112r2021) Patricia Elaine Ray, Truste• I Secretary (appointed 15109r2021) Laura Hotrnes. Trustee {4Viinted 15109r2021. reswjned 14112r2021) Andrew &ndon, TrtFstse lapp)inted 14112r2021) Peter Kent Bundey. Trustee {appoinied 14112f2LY21) Justin Jardlne, Trustee lapp)inted 1411212021) Carolyn Myring. Tnjslee (appointed 14112r2021) Emma Lewis, Trustee (appointed 14112120211 Mark Sesnan. Trustee {apFointed 14112r2021) Philip Edward Josekth Donnay. Trustee (appointed 14112r2021) Colette Lyons. Trustee (appOin￿j 14112r2021) Lorraine Ann Patrirtos, Trustee (aF)pointed 14112r2021) Basingstoke ￿ Deane B￿h Nominee. Councilbr Paul Gaskell Company regIst¢r￿ number IJ)980152 Charlty reglstsred nUM￿r 301731 Regl8tor•d offi Festival Plxe Basin9Stoke Hampshi RG217LE Company 8•¢relary Mark Austs'n Clancy- resigned 06110r2021 Patricia Elaine Ray- apw)inied wior2021 Page 1 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMrrED (A Company Llmll•d by Guarant¢e) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. rrs TRUSTEES AND AOVISERS {copinNUED) FOR THE YEAR ENDED 31 MARCH 2021 Sonlor management team James Starbuck, Chief Executi￿ (resigned 03101r2022) Terry Martin. Head of Fin￿Ce Andrew Rhys. Head of Business Devekyment (ceased 30111r2020) Sally Starbwk. Head of Operations &mon Toop. H&7d of Customer (apwnted 2111r2020) Independent audllors Wise & Co Chartered Accountants Wey Court West Union Road Farnham Suffey GU9 7PT Bankers Uoyds TSB Pk Festival Pla mayfa￿ House Basingstoke Hampshire RG21 7JU Soli¢ltors Lamb Brooks Victoria House 39 Winchester Street Basingstoke Hampshire RG217EQ THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Llmll•d by Guarant¢e) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 Tho TwstO8s, who are *so directors of the Charity urKler the Companies Art F￿esent their annual rewrt together with tho audited financial statements of the company for the year 1 April 2020 to 31 Maroh 2021. The Trustees ¢onfirm that the Annual reF*)rt and ￿anci￿ statements of the company comply wth the Current $tatutw requirements, the requirements of Ihe conpany's governing document and the provisions of Statomont of Re¢ommendwl Praclice {SORP), apF**le to ch￿tIeS preparing their accounts in a￿rdance with the Finanthal Roportwig s￿dard apF4Tcable in the UK and Republic of Irela￿1 IFRS 102) leffeclive 1 January 20191. Since the cL￿panY qualif￿ as small urmler section 383. the strategK report required of medium and large CoMpan￿S under The C￿anieS 20(￿ (strateg￿ Rewt and tkn¢tc¢s Report) Regulations 2013 ts nc* required. The reference and administralive details of the compary are shtr•m on pages 1 aThJ 2. ObJ•ctlves and actmtles a. Pollclos and objectfv The main objective of the charity is to provide or assist in wovAYir¥J fa¢ilths aThJ services for recr&*ion. thysical education or other leisure twne occupatk)n. Generaty. we contribute to the heath and qualty of ￿te of our communitw through the Ffovision of afft)rdable sports and leisure activitses that encourage ￿lder partKipakn. The charity V*ill ¢ontinue to pr¢)vide teathing arKI coaching of sport arKI leisure skills to the p￿liC to imwe the levels of pafb¢ipation in ¥porL I￿Sure, health and fftness activities and will support amateur srMNts dub& b. Strntogl•s for %hl•vlng obl•¢llves The strategtes eryployed to xhi6ve the charl￿S 04'ecti¥es are to: Achthie conb'nuous improve￿￿nI throug1v￿rt dl areas of operation Contribute to improving and maintaining good health and *pllbeing and promote hoalthy lifestyl Provide a range of sport and leisure opportunities. accessible to everyone in our local ¢ommuniiie$ Increase opportunrt￿s for children and yourKJ pewe to participate in sp)rt and18isure Develop new business opportunities that enabte us to increase our Contribution Be an OLtstanding empbyer that peo* chc*)se to work for Maln a¢tlvltles und?rtaken lo lurthw tho ¢harfty• purpow• forth• public b•n•fft The Tnjstees have taken due consKleraliw of the Charity c￿rMIsSK￿ guhjance on Public Beneffl in revithryng the ¢harity'$ objectives and a¢tivityes. THE BASINGSTOKE AND DISTrICT SPORTS TRUST UMITED (A Company Llmliod by Guarantee) TRUSTEES. REPORT ICOPfflMUED) FOR THE YEAR ENDED 31 MARCH 2021 Achl•vomonts and perfomMn¢e Rov10w of a¢tlvltl¢• The main areas of charitable ￿tiVity inc￿de education. he*th and the advancement of amateur sport with the contr)ued provision of a Lqrye multi-fvnctvjrral spwtsAeisure complex ￿ a wide range of activities avaiLAble for the general pubh'c. Special emphasis is gNen to the edueational Fxogramme teaching participants. particularty young people. and swmming. Extensive supwt is also gNen to those in the communty who are disthantaged. programmes such as the Cardix RèhatM'litati¢)n. GP Referral programmes. Active Minds. and Falls Prevention classes are provhjed. Opening a new site. bstFitness, in in 2015 enabled Ihe Charity to eXP￿d its expertise in physical xtivrty to new populations in and around Ne*oury. The stte prov*Jes health frtness, swmming a swim school. The site conbnues to perform well to targets. As well as the site encouraging a far greater number of people to take part in regular physical aclmty. a longer-temi aim is the generation of additional surplus, thich will help fund extended heath progranNnes in the futur During FY2020-21 all activities Y•Ere severdy impacted by the Cwd-19 parKlern￿, which resulted in full closure of both sites for 8 months of the finan(ial year. and continuiw restrictions on marry of the activities outside of full lockdown. Heath and Welbeing activibes such as Cardiac Rehabih'taiM)n. GP Referral programmes, Special Population programmes and over 55's sessA)ns were particularty adversely impacted, wil take some time to get back to pre•￿deMiC levels. However. it is anticipated that al activities d)at We￿ being undertaken pre- pandern￿ will resume at some p)int when conditions alk)w. This report does not inckvje every activity uThJertaken but o)ncentrates on those that have a level of signi￿nCe thin the charity. The advancement of edwtion . Leam lo Swim Providing this prcKJramme is a high priority ts the Charity, target¥ig primarily young people to leam how to swim and progress with technique improvement and devebFing new sms. The prcgramme is aligned with Swim England and provides opportunitw for the vw young (parents babies) up to ￿luIt begInner￿1MprOVers. Classes are held for 45 waoks of the year, and short Courses lastsrig up to 5 days are held during sclKK4 )lidays. Private swimryung lessons are also available. Leam to Swim lessons lor ¢hIhJ￿n a￿ also wovthd at bstFit￿$S. Nev*bury with up lo 400 children learnlng to swm frath week At Newlyjry, we are align￿ with the Sthrym Texhers Associatb)n syllabus. As well a$ tea¢hing wmming. dasses also include 1rfeSa￿ry and S￿rkelIng. A session for ¢hildren V&ith alditmjnal needs 15 hekl each Wednesth momlng. The Charity provides Ix)th the maln and texhkng pool for kxal schools {including schc¥)Is catering for additsonal needs children) so they can deliver swimming as part of the national cUrric￿m. Teaching and lifeguarding personnel are provide(l at Ba5ingstoke Sp)rts Centre, and hye Ch￿e5 are reduced by 25% to enable the Schools to work wthin their linited budgets. AH swimming activiti8s ware unavail*de during the site thsures imposed as a result of Covid-19 Ictkd¢)wns. but since rfropening in April 2021 swimming &tivity has recovered stKryty across both sites and there is a $trC￿g demand, especially for ChId￿n,$ lessons. Page 4 THE BASINGSTOKE AND DISTrICT spoirrs TRUST LIMITED (A Company Llmltod ty Guarantoel TRUSTEES. REPORT IcoKfiNueD) FOR THE YEAR ENDED 31 MARCH 2021 Achl•v•m•nts and porfornianc• {contlnu•d} . Balmlnton Courses These are organised each tem) and are tw at ywng peopk frorn 8 - 17 yea15 of age. Instruciion is undertaken by Ihe Trusys Badminton ENJlarrfl ¢oa¢h. Classes reath&J fvll c4iacity with more than 25 attendartes on each course. Short ¢wrses are *0 dwiThJ th? ¥dKx)I hokny& Further to thls, the Charity hosts the l0¢4 c￿nmUDty 8th1n1(￿ Network in a btd to increase the number of people paitipaling in lh8 Sport across tho Borough. Tw) ¢fubs n¢M have Y•Eekly meetwigs at Basingstoke. The Badminton morning has ¢ontFnued for adults ol all age5 and abdity. • Adult Tuitionlclas A range of dasse￿¢dUC¥t1onal programmes are organi5ed f(Y adults. Each year BasiTh¥toke SFths Centre provides, through klive IQ. an in4epth training programme for students vtho wish to quahfy as health and fftn855 instructors. Students attend over ￿ 11-rnonth course and have ihe opportunity of practising the skills they leam wth customers in the Gyms. Active IQ h&$ several associated course5 arKI programmes available. including Gym Instructor, Exercise To Music. Personal Trainer aTrJ Nutrition. It was not possible to run the usual Tange of National P{￿ Lifeguard (￿alIficatIon. Fffst aThl STA swim t¢a¢her ¢ouw$ to the Covid-19 pandemK. However. Since rwning the National Pool Lrfeguard Qualifi¢ation courses have resumed *d are in high dgmand. Whilst rTh)st ￿ this actsvity takes place at Basingstoke Sports Centre. * also wn x>me ￿￿r5e5 at bsiFitne5s. Nthvbury. • The Nlfvancement of Health The very nature of the activibes avaiLqble prOn￿S and sust￿$ trxrfl hoalth. The Charity provides a comprehensive pyogramme for all ages and abilibes and delivors health arvj fitness facilitie5 that appeal to wide audience. Cusiomers are encouraged to subscrite to membersh￿1 rf they arg regular visitors" allemativeky, a session fee can be paid before each aclNity. The C￿ty supports disa0￿nfa9ed arnj ¢4￿Sk￿ry clwgos which red￿ the nonnal membership fee are available. • con￿$10n￿ Charges Teen I Student membership £19.95 a rnnth Cardlac Reh*ylitationlSenvJs {60+) £29.95 a month At the ond of March 2021, Teen I Student fflembership toialkd 357. At the end of March 2021. CarrfiacJSeni(YlHea#h 408. • Speclal Populalicffi Programmos During FY2020-21 the Spec￿1 Populatwjn Prowammes pre¥• operated by the chanty were suspended due to the Covkl-19 pandemic. Hu•4*ver. swKe re-opgniry rrM)st have r&￿)mMenCed or are planned to re- commence. The ktive in Heath GP programrne works in pthership ￿fj1h k)cal surgeries in add4t¥)n to the Brfdge Centre and private physiotherapists and psythotherapists. GPS re￿rnMend patsnts to Basing$toke Sports cen￿ for a supervised exercise programme as an altemative to medicalion. The programme lasts for 12 weeks. with a reduced rats charged. At compEetion. uJstomers ￿ subscrtie to a subsbjised membership for a further nine months. or continue to pay for eath session. The majority of the exercise programme takes place in the Gym, Page S THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Umltod by Guarnntso TRUSTEES. REPORT {CONTINUED> F¢)R THE YEAR ENDED 31 MARCH 2021 Achlevements and pèrfomiane• (conthiu¢d) with a dedtsted group exercise circuit e&h wee PartnersNp with key stskeholders. such as Hampshire County Council and Basingstoke and Deane Borough Council. and North Hampshire Clinical Commissioning Group continue to enable the Charity to provlde a range of on9yng programmes in¢￿dIng a 12-4tswk programme funded by NHCCG. a programme designed for I￿>Se with mild depression and anxiety. . Cardi¥ Reha￿'ll￿tfjon Programme The Cardiac Rehabilitation Prc#Jramme was SUSFerth during FY202¢>21 but has Sin￿ ferycommenced prograffffie continues to be slrong with 8 classes maintained each week throughout the year. Clients are referred from a specialist Cardiac RehabirltatK￿ Centre in Alton. Hampshire, and are supervised at Basingstoke Sports Cenlre by BACPR (8rit*sh As%)ciation ft)r Cardiovascular P￿Vention and Rehabilitation) qualified instructors. Cardiac clients vtho received confim￿l￿n from their Cardrologi%t could enhance their facilty usage outside of the Cardiac Classes. . Ov6r 55$ Sessw)ns 6 tlmes a week supervised sessicms continued to be WOVKled for this user group at dv3counted rates. Activities predominantly include badminton. table tennis arwj ¢lasses. SenicK continues lo take place weekty and is well supported. We run an over 55$ s*Yn course on Thursday afternO￿S for beginners and improvers. Walking Footbail for the over 55s is also proving very kxipular. • Move Welbeing Suites Move Wellbeing Suites. utilisin9 Shapema¥ter equipmen( opened in Sept￿nber 2019 at Basingstoke and November 2019 al Newbury. Investrnent was made to extend the Trusts heath and welbeing offer io provide for our irKreasirrfJ ageing population in Basingstoke and West Berkshire and kn those with condiknons that prevent them usin9 traditional gyms. Th8 investmént also prov*Jes for a significant return through growin9 member5hip$ for Move, futher aidlng the Trust in furthering ts Ch￿itable obiectwes. . Children'5 kbvities To encourage youro children [r￿n one year of wje to bec0Tr￿ invofved in activity. unsupervised session$ are held seven days a week in the soft play area. Sk￿$ develoFed are balance, coordinab.on and agility with strong attendances. Football sessions continue. four sessiC￿S a week. for children aged from 2- 11 years, as well as separate skill session for chiklren aged 5- 11 years. Junwx Bcvtcamp se55tons continue as do Mother and Baby Fitness SeS￿ons. Gymwse (beginnerfs gym course for yourvJ adults ￿th additional needs) continues lo go from strength to strength. The Trust continues to run birtmay parbes in the soft play area for children up to 7 years of age. Sports Hall parkn'es for choklren aged 7-12 years and Saiurday evening pool parties. for all ages. . Scholarshlp Programme Basingstoke Sports Council- Athletes living ￿ the Borough. who have represented the county in their $po¢ can apply each year for a Sp￿ts Trusl Scholafship. This enables them to use the facih'lies at Ba$ingstoke Sports Centre freo of ¢haffJe to further their devek)pment Hamp5hwe Taèntad Athletes s¢￿￿)e (HTAS)- Athktes in lh6 county Can appty for a $¢holaryJhip t￿OUgh the county SFL)rts partnership. Energise Me. Page 6 THE BASINGSTOKE AND DISTrICT SPORTS TRUST LIMITED (A Company UnW ty Gu•rnnts•) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achlwo111onts and wlonnance (contlnu•d) • Health & Fitr A wde range of health and fitness provisi￿ is offered xross both sites. AJI levels are catered for, with young people from 11 years being able to attend a wde range of classes accompanied by an aduf(. Income from health and fitness membership for the sites was £699.231 for the year. The In￿Me provided ty membership fees enabled the Trust to support the other activit￿5 already referred to. .RoomH Rc#)m hire was sigrwficanty reduced dumg FY2021>21 due to COVKI-19 reststion$ but sin￿ rtropening room hire has r&commenced vrith Ingeus INHS Diabetes twramme). and Solent NHS Tru$L The Therapy Room continues to be occupied by Target Therapies and the hair salon is o¢¢upied by Krisa. At Newbury. the Skin Care Clinic continue to occupy Chjb. . The Advwwment ofprnateur Sport The Trust SUP[￿s l¢)oal amateur ￿b$. these Ihe B￿effins Fthimming C￿b meet slx times week. Clubs uslTrJ 'dry acbvibes" inclth* Pegasus Badminton Cknb. Challengers B•Jminton Club, LyTrJen Dance and Gymnastics. Basingstoke Squash Club. Socw Strikers. Su-Ha-Ri Karate arrfl Alchemy Dance. Flnanclal T•vl•w a. Prlnclpal Fundlng The principal tradiry fvn￿￿9 source was mern￿￿ WKA)me FY2021.22 of £728,410. Grants were received from Basingstoke and Deane Borough Council of £24,085 and from West Berkshlre Council of £3.000 durin9 the financial year for SUPFQrt during the CDvi&19 related lockdothffts. In addition, 9ovemment support of £728.941 has been daimed during the fin8ncki1 year through the Coronavirus Job Retenknn Scheme IFurhJJgh). Due lo the closure of both Basin9StL*e and sites during the national Covid-19 lockdowns, plus the C￿goIng rethjction in i￿Orne due to red￿d footlall and social distancing measures, it wa$ deemed necessary to apply for a Coronavyus Business Interrupts'on LO￿ of £750.000. This was ￿ceIVed in May 2020 and ha$ been used as worthg capital to SUPF#)rt the business until it can retum to generating a cash p05the position. b. Inve8tm•nt Power4 and Polky Under the Memorandum and Articks ofAssoc4alrm. th8 (*wty has the p￿r to invest the monies of the tharity l immediatdy required for its purrx)se in or Up￿ such shares, investments, securities or FKoperty as may be thoughl fit. Aside from retaining a prudent arnol￿1 in reserves most of the chartys funds are to be spent in the short temi so there are currenty no funds for IW MwesknenL THE BASINGSTOKE AND DISTrICT SPORTS TRUST UMITED (A Company Llmlted by Guaranto01 TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 31 PAARCH 2021 R•s•rvo8 Poll¢y The Tfustees have estsbli$hed a level of reser¥es (that is those funds that are freely availatle} that the charity fAlght lo have. UnrestriGted fund$ not ¢cKnmilled or invested in tarKJible fixed assets held by the charity should be equivalent to at least three months of expenditure. Fdh)wing the openiry of bslFitness. Newbury in April 2015 d the increased expenditure. the ¢harity eC￿tinued to iowards increasing its unrestricted fU￿JS to rneel Ihis additional requrement. Hovffter, as a reyjt of the impact of Ihe Co¥Tr>19 pandem￿. the Total ReseNes of th& business We￿ negative as at Marth 2021 at {£1,052.946}. The Value of restncted fvnds was £S51.916 and the value of unwtricted reserves vrds (£1.604,862). Inc1￿j1n9 £1.543.000 of PensM Fund defi¢tL The Totsl ReseNes continued to decline into FY2021-22 bui is forecast to impyove in medium to lorrfJ tern. d. Managemeffl of Rlsk The Trust ￿gular￿ rewews busness risk arKI ensures. where prxti¢able, actions are taken to mitigate andlor minmise the impact on rts a¢li¥ibes. The two key risks are usage due to competition. and temp)rary cessation of operating at one or faciliti'es due to major buibjing fault(sl. A strategi¢ approach is adopted for the priang of all xtiviti'es with consideration to the Trst of the markelplaee so that the best possible activities are provKJed at the best vatue prices. This help$ our offer to ￿main ¢ompetitive and targeted marketing ensures c￿r message reathe5 the rbjht audien¢e$, whi¢h is now particularly important due to increased local ¢omFetthon during the year and the effect of Covhl 19 on membership numbers and activity. Buildings leased by the Charity are fulty insured via the appropriate landknds. Addrtional insurance is taken out for both tenwvs imprOvem￿ts and ¢ontents Vlilh bJsiTress InterrUp￿n insurance in plxe to cover loss of revenue. e. Restrlctlons on Dlstrlbutlons The Memorandum of A5sociatwJn prthlbits the distrknubon of income and propety of the charity to the members. Upon dissolution or wiTrJing up of tho ¢hanty, the assets shall be given or transferred to some similar institution instbtutlon5 having otyects sirnilar to chaiity. f. R•munèrntlon The Trustees set the reMunera1K￿ for an staff. Pay Wdrds for staff are COnSKlered and dechjed upon a5 part of the annual budgel selting process. Thi$ Incl￿ the senior management team. Remuneration for the Chief Executive. as wel as any changes to senKJr management remuneration dup to revisedlin¢wsed role and responsibilrties. is deaded upon by the T￿￿teeS Resources Commrttee or recommend￿ by them to the full Board vthere necessary. g. Tax Status The Charity is entiued to exemplion from laxatw)n on income capital gains to the extent that its fur)ds are applied for charitsble purposes. THE BASINGSTOKE AND DISTRKT SPORTS TRUST LIMITED (A Comp•ny Lkn*ed by Guarant••) TRUSTEES. REPORT ICOP4TINUED) FOR THE YEAR ENDED 31 MARCH 2021 Ik Pon8lon LlabllKy Tho pon$v)n daficit ha$ been taken into ca￿s￿leratiOn by Ihe Truste￿ in their assessment of the going concem poSi￿n of the Charity. The Trustees consider that this risk does not ¢all into queslicffi the going concem position of the charitat49 company as Ihis is a lor4J term which thtyll be addressed over the length of the recovery plan and that adth'tional pa￿ents are being made to reduce deficit over this period. It is. therefore, not ablity that needs to be setued in the short temi. Pensic•n is shrnvng a net deficit ptssit￿n in the 2(>21 accounts prepared. Pension k)ss for the yew has added a further k)ss to the re$￿S of £93k in 2020-21. l. Golng Conc•m The global Coronavirus pandemic has had a map)r Thpxt on the trthig p)sition of the Charty, both in FY2021> 21 going foTh¥ard, li tems of reduced ncome WKI wDrkin9 caprtal. Both sites were completety closed for several months during the financial year, resultiTrJ ￿ a very synificant reduction of income during this lime. In addition, as a resull of some actith having delayed dates for r&commencement. and the impad of social distancing on both class slzes and indiiidual sessions in the eaty monihs of FY21-22. together wilh continuing wariness of the Omicron variant has led to a much skraw recovery lor the t￿9#7&$$ than was originally expected. In resP￿Se, the Charity has made ful ￿ of Govemment initiatsves such as the Cwonavirus Job Retenllon Scheme, reduced or eliminated areas of expense wl)ere practical and revievled existiw loan repayment schedules to maxinise availaile wt*kirvJ ¢•tsl. However. the Charty has been crf)erating at a k)ss $0 far in FY2021-22 and has theretre seen a further reduction in cash reseNe$. Cash Flow forecasts were prepared using the best information availabl? which ndicaled that the Charity would only have sufficient workirwj ¢apilal until earty 2022 and then W￿ld not be able io fulfil its cAtstsnding finan¢ial commitments. In light of the above. the Chwty have exrlwl several oPti￿S to avoid insolv8n¢y, Induding discussions wilh Greenwi¢h Leisure Limited IGLL) regarding a Fthntial merger. These discussions have led to GLL taking ¢ontrol of The Basingstoke and District Swts Trust th[oL￿ ihe resignation of existing Tru$ts•$ and the appointment of 9 new Trustees on 14th December 2021. GLL have indicated their commitrnent to financially supporbng the Ba$ingstoke and District Sports Trust Ltd through the creation of a Loan Fundin9 Agraement whi¢h v•ill operate untsl The Basirgstoke and District Trust Ltd is fulty m￿ged within GLL The￿lore, after makin9 appropriate enquires. the Trustees have a reasonable expectation that the Trust has adequak resources to conts.nue in (Veral#￿al existence for the foreseeable future. For this reason, they ¢ontinue to adopt the goiThJ c￿Cern basis in weparirig the fin￿ela1 slaiements. Further details regardin9 the adoption of the goirvj concem basis can be found in the A￿tir￿j Polr*s. Page 9 THE BASINGSTOKE AND DISTRICT SPORTS TrUST LIMrfED {A Company Llmitod by Guarant￿> TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 StnKturn. gov¢rnance and manag•m•nt a. Govemlng Documont The Basingstoke and District Sports Trust Limited is a company limited by 9uarantee govemed by its Memorandum and Artth of Associati¢)n. inc¢)rporated 20 May 1970. The g0vem￿g document was replaced by Special ResoluthM on 28 March 2018 when il vras updated and is predominanuy now based on the Charity Commission's model artides. Amyone can become a member of the ccThpany, and there are currendy 10 members each ofwhith agreed to contr*Mrte £10 in the evenl of the chanty winding up. b. Moth(xls of appolnknent or electlon of Tnr4teès The directors of ts company are also d￿rity Trustees uTrJer Charty l&v. Under the requirements of the M&morandum and Articles of AssociatM)n three dIrectC￿ must ￿¢￿e each year. AJI members of the Board a eligible lo offer themsefves for rfrelection. The Board members have the power to CL￿Pt members. Cfyopted members hold office for the perK)d for whith or, if r)ot specif￿d. for a period of one year. Basingstoke and Dean8 Borough Coun￿1 ha5 the rfght to r￿rnIn8te lo the tx)ard one observer. The Th)mir￿? appointed by Basingsloke and Deane Borwgh Counul is $ubje¢t to the appointment process of that tody arKI the guidelines on appointment to public ofke as they apply to Ioc81 government nomnees. c. Pollclos adoptod for th¢ hKlu¢tlon and tr•Snlng of Trustees The Board comprises of 10 Tnjstees. Members come fr(wn a warioty of profeSs￿al backgrounds. all having a keen intewt in the health and welfare ol the k￿1 communty. The Board meets eight times each year. Separate sub TRUSTEES, REPORT (COMTINUEDI FOR THE YEAR ENDED 31 IIiARCH 2021 Slructurn. gov•rnanc• and manag•m•rt {contlThu•dl f. Futur• d•v•lopmwts Following the change of contrc4 to Greerwéith Leisure Ltd {GLL) in December 2021, the busines5 *ill continue to monitor and forecast the on-going Ynpxt of the Coronavirus pandemic on the workng capital of the business and wll continue to imrAement dl possible steps to ensure working capital is maximk%ed. As explained in the Going Concern paragra￿. several steps have already been imF4emented to this effect and these wll be under regular review. GLL have committed to ffinancialy suptN)rting the charity, with the aim of merging the charity into GLL in the shortlmedium futwe. The Charity wil capitslise on increasing visits to the rh)ol area and VM concentrate on providing an extenslve Leam to Swim programme tsrgeted primarily al young people. The C also concentrate on providlng an increo¥ed kvel of a¢tiwty for young petyle aged 6- 13 years wlside the pool environment. Expansion of the health and welbeing programme to rn0￿ of our l¢xal ¢ommuntlies remains a key fo¢u$ and the Trust is exploring h¢M to provhle for an iia¢liv¢ and ageiNJ population within the ¢at¢hment a￿8$ of its IAyo sites. The Trust will ¢onlinue to promots gcty)d health to tho lo¢al Communty wilh tho uso of its fa¢ilitios, partscularty through membornhip of the Move Wollboing Suites. Audltorn Wiso & Co Chwiered ACC￿ntants wue re4pp)inted as Auditors during the pericyj. Stat•m•nt of Tw8ts88' rn8ponslbllltles The Trustees (who are also the directors of the charity for the wrposes of company law) are reSpons￿le for prewing the Trustees, Report and the financial statements HI ￿LOrdanCe with appl￿ble law and United lQngJom Accounting Sta)dards (United •Qn￿10M Generalty A￿pted Accounting Practice). Company law requi￿$ the Trustee$ to prepare financial stat￿ents for each financial year. Under company law. the Truslees must not apwove the financial statements unless they are satisfied Ihat they grve a true and fair view of the stste of affairs of the charity and ol its incoming resources and aprlication of resources, induding its kncome and expendrture. for that perM)d. In ￿ponr￿j these fmancial Staten￿ts. the Trustees are required to.. select suitable accounting policies and then apply them consistenty, observe the Me￿d8 and principles of the chariti.es SORP IFRS 102): make judgments and xcounting estimates that we reasonable prudenL stste whether appl&4)le UK ACCO￿¢11g Standards (FRS 102) have been folhywed, subject to any material departures disdosed and explained in the fman¢o1 slalements" prepare the financial statemenls ￿ the gc4ng e¢￿eM basis unless rt is iiappropriate to wesume that the charity ¥￿1 contiNe in business. The Trustees aro rosponsible for keepirKJ *quate accoun11￿ ￿tud$ thal are sUffid￿t to show and explain the charitys transactions and dis¢lose ￿th wsonable accurw at any time Ihe financial position of the charity and enable them to ￿SUre that the finaniial statements eompty with the Companies Act 2006. They are also responslble fw safeguarding the assets of the charity and hence fcf taking reasonable steps for the prevention and detedon of fra￿j and other irregularilig& Page11 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Lknltod by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 ￿R¢H 2021 Dl$¢lo•ur• of Inforni•tlon to audltorn Each of the per$c￿S who are Trustees at the time )hfien this Trustees. Report is approved has confimied that.. so far as the Trustee is aware. there is no rele¥￿t a￿j[t information of the charitable companys aLKlitors are unavrdre. and that Trustee has taken all thg steps that ought to have been taken as a Trusteg to be WNar8 of any relevant audrt Infomiatr'on and to estabf¢h that the charitabte ¢ and applicable law. Our responsibilities under those standards a￿ fvrthor describad in the Auditors. re5￿M51b111tieS for the audit of Ihe fnan¢ial statements section of our repoiL We are indeptsndmt of thè chwitable conwany n accordance with the ethKal requirements that aTr relevant to our a￿￿1t of the financrdl statèments in the United lQngdom. including the Financial ReportiNJ CcwrKls Ethical Sland*d. and we have fulfilled our other ethical responsibiliti'es ri ￿Or￿Ce wrth these requirements. We believe that the audit 6vidtir￿e we have obtainéd is sufficient and appropriate to Fwyide a basis for ow•)n. Mattr￿1 un¢ortalnty f•lat¢d to golng ¢on¢•m We draw attent¥)n to nole 2.2 in the fnancial statements. vthich indicates that losses continue to be made for Ihe ar ended 31 March 2021 arKI into the year to date. that the charity woukl only have sufficienl working capital lo rty 2022 wthout addith'on￿ measure5 and that the negative effect of the coronavirus pandemic on Ihe operating position and cash Ikwws cast significant thubt on the charitable company$ abilty to conbnue as a going concern. As stated in note 2.2. these events or cA>nditi￿. alrry with ts other matters as Set forth in note 2.2. indicate that a material uncertainty exists that may cast s￿nif￿ant dwbl on the ¢harilable ¢ompanWs ability to contsnue as a going concern. opini(m is not modif*d in respect of this matter. In auditing the financia statemenis, V•e have cOnd￿ded that Ihe Twstees, use of the go#)g concern basis of counting in the preparation of the financHI Stateffle￿ is appropi*. Ojr responsibilities and the respjnsibikl￿ ol the Twstees *ith fesr*¢t lo going concem are described in the rdevant sections of this reporL Page 13 THE BASINGSTOKE AND tXSTRICT SPORTS TRUST LIMrtED {A Company Limlt•d by Guarante•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMrrED (CONTINUED) Other Inlomiatton The other information comprises Ihe infomth incI￿jed in Annual Report other ihan the financial ststements and our A￿lItOrs. ReFKJrt thereon. The Trustees a￿ responsible for the other infomiation contained within the Annual Report. Our opinion w Ihe knnGial 5tstemenls does not cover the other information and, except to the extent othep*ise explicitly stst￿l in wr report we do not exwess any f￿M of assurance condusion thereon. Our resw)nsibility is to rthj the g￿r informaknn and, in doing so. consider whether the other informat*)n is matgrialty In￿nSistent *ith the finanual statements or cAJr kn￿ledge obtained in the course of the audit, or othopwis¢ apptsrs to be materiaty misstated. If we identify such material inconsistenues or apparent matenal misstatements, we are required to detemine vhther this gives rise to a material misstatement in the financial statements th￿selveS. If. based M the ¥L)rk we have perf0M￿d. conclude that there is a matetial misstslement of this other infom)alion. we are required to rep)rt that fxt. We have nothing to repcrft in this rewd. Oplnlon on other matters prescrlbed by the Companies Art %X)6 In our opknion. bas￿ on the undert*en in the c￿r$e of the audit: the informatim gi￿ in the Trustees, Report for the financial year for the financial Statements are prepared is consistent with the financial statements. the Trustees, Reptyt has been prepared in accordartt Imih applicable legal requirements. attorn on whl¢h w• are requlrnd to i¢port by excopuon In the light of our knowledge and understandiTrJ of the dwitable company its gnvironm8nt oL*ained in the course of the audiL we have not ldentrf￿d material misstatements in the Trusteos. Report. We have nothin9 to report in respect of the ftA&yMng matters in we￿￿)n to T*thi¢h Companies Act 21J)6 requires us lo report to you if. in our opinion.. adequate aMsible for the preparation of the financial statements for béing satisfied that they gib* a true and far view, and for su¢h ntemal contrd a5 the Twstees determine is necessary to enatAe the preparath)n of financial statements that are free from material misstatement. thether due to frwd or error. In prawing the f￿anCIal statements. the Tntstees are ressy)nsible assessing the Ch￿table CoMp￿1S abilty to continue as a going concem, disdosing. as applieable, matters related to going concem and using the going concern basis of accountiig unless the Trustees either intend to IK4uidat8 the ch*itable ccffipany or to cease operations. or have no realistic atemative but to do so. Audltorn, re8pon81bMltles forthe audtt of th• flnand•l ststaThK•nts Our objectives are to obtain reasonable assurance alx)ut fin￿chIl statements as a whole are free from material nwsstatemenL whether due io fraud c* error. and to issue an Auditors. ReFQrt that indudes our opinion. Reasonable assuran￿ is a high level of as5urnr￿, but is r￿t a guarantee that an audit conducted in acciydance ISAS {UK) WMII always delect a material misstaiement whon it exists. Misstatements can arise from fraud or em)r and are consllered material if, individualty or In tho aggregate, tlw could reasonably be expected to inlluence the eConrmn￿ decisions of users taken on the basls of these financial statements. Irregularities. Ind￿Jing fra￿1. are instances of nOnwc￿p￿nce *ryth la￿ and regulations. We design prcce(lures in line with our responsibilities. outlined atmwe. to detect material misstatements in r&spect of Irregulari￿5, including fraud. The extent to our wcwlwes are Capable of d*ting irregulariiies, indudng fraud 15 detailed below. We gained an understanding ofthe legal and regulat￿ fra￿e￿ applicable to the eompany and the industry in which rt operates, and consKlered the risk of acts by the company thai were contrary to applicable and re9ulations, includin9 traud. We desuned audit prcrtedures lo respond lo the risk, rwnising that the risk of not detects'n9 a material misstatement due to fraud is Ftyher than the risk of not detecting on• resulting from effor, as fraud may involve deliberate ccmcealment ty. for exanwe, forgery ￿ intentiona misrewesentations. or through collusion. We focussed on laws and regulatKins V4thi¢h C(￿1 gr￿ rise to a matsrial misstatement in the financial ststements. including. but Th)t limited to. the Charii*s Act 2011. the Ctyypanw Act 2LKJ6 and UK tax legislation. Our tests inchjded agreeing the fin￿cial $tsiement dixbsu￿s lo underfying supwrting dcumentation and enquiries with managemenl. There we inherent Iwnilations in the audlt prLKedures descrit*d ab)ve and, the further removed r￿￿-￿mplianCt ￿ la￿ ￿ ￿ulatiOnS is from the events transactions reflected in the finanual statements. the less likely we VITh￿ become awa￿ of IL We did not *Jentify any key audit matters relating to irregularities. including fraud. As in all our audits, also a(bJrtssed the risk of management override of internal controls. induding testing jownals and evalualiNJ there was evtdence of bias by the directors that represented a r￿k of materol misslate￿nI due lo fraud. A further descripts'c￿ of our respmsibililies for ts aNJii of the financial statements is located on the Financial Reporting Councd's website at V•VM. nsibilities. This description fomis part of our Auditors. Rep(KL Page 15 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Comp•ny Llmlt•d by Guarnntee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (CONTINUED) of our report This report is made soloty to the ¢harilable cc4nw￿$ membep&, as a body. in accordance Ylth Chapter 3 of Part 16 of the Companies Act 2006. Our audit has been undertaken so that we mvjht state to the tharitable company's members those matters we a￿ required to slate to them in an Auditors. Report and for no other purpose. To the fvI￿$t extent wrmiited by lthv. we do not accept or assume responsibilty to anyone olher than the charitable ccmpany arKI its members. as a br*. for our 8￿Irt wiyk. for thi5 report, or for the ownions we have form￿. Mark DIGkln¥on FCA Isenlor Statutory Audttor> for and on behalf of Wlso & Co Chartered Accountants Wey Court West Union Road Farnham Surrey GU9 7PT É (- (204 Page 16 THE BASINGSTOKE AND DISTRKT SPORTS TRUST UIAITED IA Company Llmlted by Guarantso) STATEMENT OF FINANCIAL ACTMTIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestrlcted funds 2021 Rostrktod lunds 2021 Total fund8 2021 Total fvnds 2020 Income from: Donations and legaues Charitable &tivibes Other activilies Invesbnents 765J66 952.662 765,366 952,662 465 150 3,592.428 5. 720 2,461 160 Total In¢omo 1.718,843 1.718,643 3,620.609 Expenditurn on: Charitable *bvities 3.091W1 80,044 4171,395 3,963,046 Total •xpendtturn 3.091,351 80,044 3,171,395 3.963.046 Nèt movemènt In funds bofore other recognlsed galnslllosses) (1 J717081 (80,0441 (1M52,7521 (342,437) Othor r•cognlsod gaIn￿lI0$￿5). ActuarTral k)sses on defined benefrt pension schemes 27 q93,WO> 193,0001 (214.000) N•t movomont In funds 11M65,708 (80,044) (1W,752) (556,43TJ R•con¢Mlatlon of fund6'. Total funds brought ftxward Net movemenl n Iwrfls (139,154) {1M65.7081 631,960 492,806 (80.044) 11W.752) 1.049.243 (556,437) Total fund¥ carrled forward 11,604m2) 551,916 11,052,946) 492.806 Stathent of Fin￿￿1 A¢bvilw ir*dudes al gws and k)sses re¢ogntsed in the year. The notes cffi pages 21 to 50 1￿M wt of these fina￿1* slatem￿. Page 17 THE BASINGSTOKE AND DIsTR￿T SPORTS TRUST LIMrrED (A Company Lknit•d by Guarnnt••l REGISTERED NUMBER: 00980152 BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Flxed as8•ts Tangible assets Inveslments 15 14 2,OOOA86 2.273, 101 2,000,489 2,273, 104 Current •SSots Stocks Debtors Cash at bank and in hand 16 17 4211 9.541 114. 759 $37, 765 357A96 403,815 662,065 Creditors". amounts falling due wrthin one year 18 1613.8811 (417,008) Net current Ilabllltles l assets (210,066) 245.057 Total assets1¢ss current Ilabifrti 1.790823 2,518.161 Creditors.. amcyJnts falh'ng due after m than one year (1,300,369) (649.355) Nel assets excluding penslon Ilablllty Defined benefit pension scheme habthty 490,054 (1,543,000> 1.868,806 27 (1.376,000) Total not ass•ts {1.052,9461 492,806 Charlty funds Restricted funds Unrestricted funds Unrestricted funds exclLKling Fension asset Pension feseNe 21 551 ￿16 631.960 21 21 161.862) (1.543.000) 1.236.846 (1.376.000) Total unrestricted funds 21 11,604,862 (139, 154) Tolal fund8 (1,052,948 492.806 The Trusteès aCknowl￿g& their responsibl&ties for conwying the requirements of the Act with respect to accounting records and preparatM)n of financial statements. Page 18 THE BASINGSTOKE AND DIsTR￿T SPORTS TRUST UMITED (A C(•mpany Llmll•d by Gu•rant•e) REGISTERED NUMBER: 1x1980152 BALANCE SHEEr (copinNUED) AS AT 31 MARCH 2021 The financi8J statements have been wepared wi &cOrd￿ the provisions applrable to entTrtss subject to the smal companbes iegbme. The financial statements ￿re apwoved and au1frKKi￿ for ￿ by the Truslees and Sign￿ on their behalf by: MAIZX SfSIL4AnJ Trusts6 Date.. ?7}1 1 ZZ The notes on pages 21 to 50 frrfm M of these ISnanc￿ statements. Page 19 THE 8ASINGSTOKE AND DIsTR￿T SPORTS TRUST LIMITED (A Company Lknlted by Guarantsgl STATEME1￿ OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Cash flows from op•rating activlll•G Net cash used in operating actswties 1905,564) 41.201 Cash flow• from Invesllng actlvkles Interest received Pr￿eedS from thg sale of tarwJible fixed assets Purchase of tangible T￿ed a55ets Interest paid 160 2,461 396 (305,891) (28.682) 124.975) Not ¢ash u8•d In Inv•stlng actfvllles 124.825) (331.7161 Cash IIow8 from financlng actlvlllo8 Cash inlh)ws from new borrowwig Cawtsl element of loan 1A70.000 1719.780) 239,000 (95.906) Net ush provldod by fin•n¢lng acllvltles 750.220 143,094 Change In cash and cash •qulvalents In tho yur Cash and cash equi¥*nts al the beginniig of the year 1180.169) (147.4211 537.652 685.073 Cash and cash •qulval•nts at tho end of th• year 357883 537.652 The n¢)tes on pages 21 to 50 fom) W of fina￿la1 statements Pa9e 20 THE BASINGSTOKE AND DISTRICT SPORTS TRUST UIIITED (A Company Lknlted by Guarantse NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 G•n•ral Infornmtlon Basirostoke & Distitt S￿￿$ Trust Limiied is a charitable cjxipany Thmited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity boing wound up. th8 liabihty in respect of the gUa￿te8 is lThited to £10 per nwnber ol the charlty. The company is Inc<￿E￿￿ted in Engl￿￿1 & Wales. The registered office and principa address is BasiThJsloke Sp)rts Certre. Festrrdl Pl¥e. Basing$toke, Hwnpshire, RG217LE. A¢countlng pollcle• 11 Basls of pveparatlon ol flnanclal Statemnts The financial statements have been prep¥ed #i accordance with the Chariti8s SORP (FRS 1021- Accounting and Reporting by char￿e$.. Statement of Recommended Pracb¢• applicable to chanties preparing their accourts in aCcOrda￿e with the FiMncial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 {effeciive 1 j￿tsary 2019). the Financial Reporting Siandard apF4icable in the UK and RepublK ot Irelwd (FRS 102) and ts Companies Act 20￿. The BasingstrA NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2021 Accountlng polklos I¢oDllnu¢d) 2.2 Golng concern These financial statements have teen wepared on the going concem basis ￿lch assumes that the charitable company will continue in OFeration for the foreseeable future. c￿S￿lered to be at least 12 months from the date of signing these financial statements. The global Coronavirus pandèmic has hal a maiLY impact on the trading position of the Trust, both In Fy202￿21 and going forward, in tern￿ of reduced irKome and V+rsrking capital. 80th sile$ were completely d￿d for several months dwirKJ the financial year. resulting in a very significant redurtion of ncoma during this time. In additN)n. as a result of some a￿"vItieS haviTrJ delayed dates for r commencemen( and the impact of soual distancing on both dass sizes and individual sessKJns in the early months of FY21-22. togetr*r *ryth continuing wariness of the orn[r￿ variant has led to much shywer recovery for the busir)ess than vrds orvJinaUy expected. In response. the Trust has made fvll use of l>)vemment initsatives such as the Coronavwus Job Retenb'on Scheme. reduced or ￿mMated areas of expense where practical and reviewed existing k)an repayment schedules to maxwnise availaljle WIXkH￿ cawtal. Hcswever, the Trust has been OFwating at a tr)ss so far in FY2021-22 and ha$ Iherefore Seen a lurther red￿tK)n in cash reseryes. Cash Flow forecasts were prepared using the best infomiation available which indicated that the Trust would onty have suffi¢ient workirYJ ¢8Pita until ewty 2022 and th8n would not be able to fulfil its outstanding financial ccfftmitments. In light of the above. the Trust have expknred several F￿ential Optior￿ to avoMJ insolvency. i￿luding diScussK￿S with GreenW￿h LeK%ure Lvnrted (GLL) regarding a potential mer9er. These discussions have led to GLL taking contrcA of The Basingstoke and Districl Sports Trust through the resignation of sling Trusiees and the appointrnent of 9 Trustees on 15th December 2021. GLL have induted their commitment to fmane4aW supporting the Basing5toke and District Sports Trust Ltd through the creation of a LO￿ Funding Prfjreement which wil operate until The Basingstoke and Distr￿t T￿￿t Ltd is fulty merged within GLL. Therefore, after making ewuires. the Tntstees have a rea$C￿able exFrftalion that the Trust has adequate resources lo continue in operats'onal existence for the foreseeable future. For this reason. they continue to adopt the g¢MrvJ concern basks in pweparing the fina￿la1 statements. Page 22 THE BASINGSTOKE AND OISTRICT SPORTS TRUST uMrrED {A Comp•ny LlmK•d by Guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng polklos (conllnuod) 2J Incomkng resources Provision of facilities Entrance fees are recowised as they we received. Mernbershij subscripb.ons are recognised as income eVe￿Y over the peric4J lo *tht¢h the membèrship relates. DOna￿S Grants receivabb are recognised in the statements orKe the conditions relating to their re¢oipt have been satisfied. G￿ts recer¥ed in telatK)n to fixed assets have been re¢ognised upon r8¢•ipt as a restricted reserve is released in h'ne with the depr￿lat￿n on these assets. Annual op8rallng g￿ts have boon thssified as frorn charitable acti4ities. Investment Income Gifts ar#J donations wi kind Gifts and donations kn kind are nduded in the financial statements as grfts and donations wlth a corresp￿ding expertse vh*re tr* amount of th& gift or (S)nation is quantifiable. The donation in k￿￿ relatiro to the poot rede¥d0wy￿rt in 2CW)8 was recognised Upc￿ receipt as a restrthd reseNe whth is being released in h'ne ￿1th the deprecation of these assets. 2A Resour¢u w￿ded Resour￿ expended we included #i the Slaternent of Financial Activities C￿ an accruals basis. Certan expenditure is dire¢ty attr*ulable to specift &b¥ibo$ and has been included in those cost ¢ategolle$. Certain costs, whKh are altrbutsble to more than one activity, are apportioned a¢ross ￿$t c*egories ￿ the bass of an eslin* ol thè of b'me spent by siaff on those G0Veman￿ costs inclLKle those costs as9x1￿ ￿ meeting th8 constiiutional and statutory requirements of the charity aKI audit fees. Due to Its Charitsble Trust stattts. the compary fikn partial exemption rules for VAT. Onty VAT on costs for the wt of the business that is fulty taxable is claimed back. indudes the café and ven(Ing. NoTrbusiness inccwne in¢kKles g￿ts and donations. Atl other costs are posted to the ststement of Finan¢ial at gross cost. On a quarterty basis, the partial exemption calculation is then completed an •Jjusln*nt for the td)tal daimable VAT on these costs b written to the Statement of Financol Admty. Costs of generalirwJ funds are costs inoJrred in attr&trwJ voluntary iN￿me, and Ihose incurred in trading xtivities that raise funds. Page 23 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LWbllTED (A Company Lknlted by Guarant••) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollcles l¢onllnued) 2.4 R¢sour¢u expended {￿illnued) Expenditure is recognised once Ihere is algpl ¢y constrt￿tive obl￿allOn to transfw economic benefft to a third party, it is probatle that a transfer of economic benefits wil be required in setdemenl and the amount of the obli9atson can bo measured reliably. Expenditure is classified by activrty. The costs of each activty are made up of tho tctsl of direct costs and shared costs. i￿lUdIng supwt costs involved in undertaking each actiNIty. Direct costs attribulable to a swigle activty are allocated dIre￿[Y to that xli¥ity. Shared costs which cxjntribLrte to ffK)re than c￿8 acbvity and support wsts vthi¢h are t attrilwtablg to a fAng4e ¥tivity are 4portioned be￿ those activit￿ on a basis Consistent with the use of resourcés. Central staff costs are aiocated on the basis of time spenL and dePre￿all¢n tharges allocated ￿ the FI￿10n of the asseys use. Expenditure on charilable acbvit*s is incurred on directy undertaking the &tivilies which further the char￿lS objectr•es. as as any associated support costs. 2.$ Interest recelvable Inte￿$1 on l￿d5 held on deposit is inchjded ￿CeiV￿)￿ aThJ the amount Can be measured rdpbly by the trust,. this is nam￿1￿ upon notification of the interest paid or payab￿ by the Bank. 2.6 T•nglble Ilxed assets and dopr•¢l•llon Tangible fixed assets ¢osting £1.tXQ or more *e capitalised and recc*3nised when fuiure economic Lwefrts a￿ prcthble and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recogn￿ at cost Ats racoJnil*)n. under the cost m¢)del. tangible fixed assets are measured at cost le55 accumulated deprecaation and any accumulated impaimienl losses. All costs incurred to bring a tangitAe fixed asset into its intended workw condition shoukl be Iduded in the measurement ol cost Depreciation 15 WOVKled at rates calculated to write off the cost or valuation less estimated residual value of each asset, over its ¢xpecbJ life. Assets are charged a full month's depreciation in the month of wjdilion arthj Th)ne in the of disp)5al. Depreciats'on is Pr￿ded on the follu*&iry bases." Leasehokj yoperty {Initial cost) - 2% strapjht line Leasehokj improvements >20% straight line Fixtures and frttirwJs 1￿20% straight Sports equipment 1￿25% straight line Comwter equipment - 33.3% strayht Iw 2.7 I￿v￿lments Inveslments a￿ stated al ¢osi 2.8 Stocks Stocks are Vall￿ at the lower of cost WKI net realisable value. Cost is calculated on a first in first out basis. Net realbsable Value is estimated after ￿lowIng fty any further cost to reah'satKtrn. Page 24 THE BASINGSTOKE AND DIsTr￿T spoirrs TRUST LIIAITED Company Lknked by Guarant••) NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2021 A¢￿untIng pollcle• {contlnuedl 2.9 Deblov• Trade and other debt0￿ we recognised at Ihe settlement amount ts ary Irad¢ di$￿Unt offered. Prepayments are valued at the arrKwnt wepa#l net of any trade dls¢ounts due. 2.10 C48h at bank and kn hand Cash at bank arrfl in W i￿ludeS cash ¥KI short4em highly liquid investments with a short maturity of three months or less the date of acquisitson w opening of Ihe doposit or sThilar account. 2.11 Llabllltl•8 and provlslon8 Liabikiies are recognised when tlwe Is an ¢￿Igati￿ at the Balance Sheet date as a result of a past even( it is probable that a transfer of ecOr￿n￿ b￿fft b8 required in settknent. and the amourt of the settlement can be estimatsd relia￿. Liabilrbes are re¢ogThsed at the amount that the charity antscipates it will pay to settle the debt or the amount it has received as advanced payinents for the gwds or services it must provide. Provisp)ns a￿ rneasu￿d at the best estsmate of the amounts required io settlè the obli9ation. Where the effect of the time value of money is matenal. the provision is based on the present value of those ounts, discounted at the w+tax discount rate that reflects the risks specrfic to the liability. The unwiThJing of the di￿nt is recrfjni5ed MIIMn interest payable and similar char9es. 2.12 Fln•n¢lal knstrwn•nts The trust only has finan¢i4 assets and fnancial kabkns of a kind that quahfy as basic financial Inslruments. 8asi¢ fin*Ko1 *i$truments are initialty reco9niseil at transaction value and subsequenUy MeaSu￿d at their setU¢ment value the exceptson of bank loans which are subsequenlly measured at ￿￿119¢d Cost usirKJ Ihe effeC1p￿ interesl method. 2.13 L•as•• Rents1$ paid uMler opetatry l&ises are charged income on a 5trawJht k'ne basis over the lease term. Benefits received and recetwabbe as an ￿￿entr￿ to sryn an operating lease are re¢ognised on a sts9ht line basis over the lease terni. Page 25 THE BASINGSTOKE AND DISTrKT SPORTS TRUST UMITED (A Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2021 A¢¢ountlng pollcl•* Icontinu•d) 114 P•nslon8 The chanty operates a defined contrit￿rtion wision scheme and the pens￿￿ charge represents the amounts payabfe by the trust to the furyj in Rspe¢t of the year. Retirement beneffts are provvjed by the Local Govemment Superannuation Scheme ILGSS). This is a defined benefit scheme which ts extemalty fvndtrj. The Fund Administemg Authority is Hampshire County Council. Contributions to the stheme are ¢al¢ulaled so as to spread the cost of pensions over empbyees, workirvJ lives in SLth a way that the pensions Cost is a substantially level percentage of present and future pensDnable payroll. The ￿n￿bU￿orts are determined by qualrfied actuaries on the basis of triennk41 v¥luakn'on5 using the prc4ected unit method. This scheme was closed to new members and from 1 May 2014 aThJ a group defined contritKrt#)n scheme was made available under aUt￿enrol￿ent 2.16 Fund accountlng Funds hekl by the charity are eitrw. General lunds These are funds can be used w) accord￿ wilh Ihe charitable objeGts at thg discretion of the Trustees. Pension fund d8fiTrt This relates to the def#it on the charilatAe cOmp￿1S kYcwrtK)n of the LGSS pension schome. Rèstricted funds These are funds that can onty te used for wbcuL¥ restrithd purF*)ses within the objects of the charity. Res￿trons arise vthen sFec1f￿ by the doTh)r or vA7en funds are raised for particular restricted purposes. Further expIWwt￿n of the nature and purpose of each fvnd is included in the Trjles of the financial statemen Crftl¢al actountlng ¢$llmates and arms of Judgmnt Eslinates and judgments a￿ ¢c￿lnUalty evaluated and are based on historical experience and other factors, includ#ig expe¢tsbon$ of future events that are believed to be reasonable under the ¢ir¢umstsnce$. Crilical accounting estimates and aSsump1K￿$. The charty makes estimates and assumpti￿$ con¢eming the future. The resulMg accounting estimates and assumpl•)ns will. by definit*￿. seldorn equal the related actua results. The estimates and assumptions that have a signiftant rlsk of Causing a material adjustment to the carrying a￿nts of assets arKI liabilities within the next fin￿Cial year are discussed bel(yN. Pa9e 26 THE BASINGSTOKE AND OISTRICT SPORTS TRUST uMrrED IA Company Lknlted by Gu•ranlw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IMRCH 2021 Crllkal ae¢ounllng •*tknates and arex d Judgment Estim*s and judwents are continually eVa￿ted and are based on htstorical eXper￿ce and oiher factors. induding exF*c*attr￿S of future events that are believed to be reasonable under the circumstance5. Critical accounting estwn* and assumpkns.. The charity makes eslrnates aKI asstynpi￿s ¢ NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 12. 2021 2020 Wages and ￿larIeS Soclal security costs Pension contributions 1.$99A14 87.737 1,904, 739 112,305 121.021 1.766,651 2. 138.065 Emkloyer pension contrikyJtiL￿ to the defined benefft pe￿1￿ scheme during the year amounted lo £63.795 {2020: £101.503). EmFdoyer pension contribLrth)n$ to Ihe defirEd ¢ontritwtion penwn scheme dumg the year amounted to £15.705 {2020= £19.518I. During Ihe year. the Charity made redurmlancy Pa￿nents of £16,818 as a result of the extended ck)gure due to the Coronavirus Cthryd-19 parKlem￿. All redurKlancy payments made have been inchjded in the aCcO￿ts at the point al ￿kh they were pakl, following the conduswjn of the redundancy wocess. The payments were fvnded by the unrestricted funds. The average number of persons emtAoyed by the th*ity durirwJ the year was as follows.. 2021 No. 2020 Full time staff Part staff 26 156 142 166 182 The average headcount exwessed as fvwtyne equN*nts was.. 2021 No. 2020 Full time equivalent 71 The number of emptoyees emFAoyee benefils {exCl￿111¥j employer pension rnsts) exceeded £60.000 ￿Es. 2021 2020 In the band £90.001- £1￿.0(￿7 RemuneratiM of the senior ManageM￿t team Yds £258.899 (2020: £243.081). THE BASINGSTOKE AND DISTRICT SPORTS TRUST UMITED IA Company Umlt•d by Gu•rant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 13. Tru•t¢M' remunoratlon and ¢xpww• Dumg the ￿r, no Twstees received any remunerat￿ ￿ other b￿efft$ (2020. £NIL). Dumg the year ￿ded 31 M*1 2021. rn Trustee expenses l)ave teen kncurred (2020- £NIL). Page 35 THE BASINGSTOKE AND DISTrICT SPORTS TRUST LIMITED IA Company Llmlled by Guarant••) NOTES TO THE FINANCWL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Flx•d asset Inv•stmfrnts Shares In group und•rtaklng Cost or valuatlon At 1 April 2020 At 31 March 2021 Prlnclpal subsklSarlo5 The following was a subsidiary undertaking of the chty. Nam Company number Registsred or prlnclpal Prfnclpal •¢tlvlty place ol buslness Basingstoke Sports Centre Trading coM￿Y Limited Iy2638446 Sptyts Centre, Festival PEa¢e. Basingstoke, Hampshlre. RG21 7LE Dorniant Holdlng Included In ¢on8olldatlon 1(Xl% No The financial results of Ihe subsmliary for ihe year ¥•We: Name N&t Ilabllitles Basingstoke Sports Centre Trading Company L¥nited (2,1671 At 31 March 2(f21 the subsidiary company had net fiabllfties of £2,157 {2020: £2,157). The Basingsld(e Sports Centre Trading Company Lwnited is exduded from the conscl*Jated accounts as the company is dormant The subsidiary undertaking is ￿￿￿ted in England & Wales. THE BASINGSTOKE AND DISTRICT SPORTS TrUST LIMITED (A Company Lknlted by Gu•rant•• NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2021 15. T￿gIble Ilxod Long Iwehold Short L•a••hold Flxlur•s 8port8 bulldlngs leasehold Improvements and fftllng$ •qulpment Cost or valuallon At 1 April 2(r20 628,503 68,757 6.715.765 643.690 745.906 At31 2021 628.603 68,757 6,715,765 643,690 745,906 D•pM¢latlon 1 Ayil 2020 Charge for the year 314.250 12.570 17￿14 3.716 5.297J48 170,493 524816 376.635 60.666 At 31 March 2021 3%.820 21230 5A67,941 549,218 437,201 Net book vthe At 31 March 2021 301.683 47,527 1.247,824 94A72 308,704 At 31 March 2020 314.253 51.243 1.418,317 119,274 369.370 16. 8to¢k8 2021 2020 Fwii$hed gocrtls aNI goc*l$ for res* 8,211 9.541 17. D•btorn 2021 2020 Du• wlthln on• y•ar Trade deb Prepayments and accnHI income 578 37N30 8.570 106. 189 38.008 114,759 Page 37 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIIAftED (A Company Lwntt￿ by Guarnnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Computer •qulpmenl Total 88.177 8.890,797 88.177 8.890.797 8T￿33 6.617.696 272.615 87,901 6,890A11 276 2,0¢)0886 644 Z273.101 Page 38 THE BASINGSTOKE AND DIsTr￿T SPORTS TRUST LIMITED (A Company Lknlled ty Guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. Cr•dltorn: Amounts lalllng due wlthth one year 2021 2020 Bank overdrafts Bank k￿n5 Trade ¢reditors Other taxation arKI social security Acwab and deferred irKome 113 169.831 106rt61 873 336.803 113 70.425 18.211 4,804 323.455 613,881 417,008 19. D•f•Th•d Incom• 2021 2020 Deferrwj income at 1 April 2020 Resources deferred during the y 105.853 13T,388 153,376 105.853 (105.8531 (137,388) Dthrred In¢ome •131 Ma￿h 2021 153.376 105,853 Page 39 THE BASINGSTOKE AND IXSTrICT SPORTS TRUST LIIAITED (A Company Lknltsd by Guarnntee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2021 Cr•dltor4: Amounts falllng due after mor• than y•ar 2021 2020 Bank loans 1,300,369 649,355 Induded V•ithin the above are affl￿nts faring due as I￿k￿S.. 2021 2020 B•tw•en one and two Bank k)ans 218,669 197.619 Between two and year4 Bank loans 667,313 406.615 Ov•r f6ve years Bank bans 414,397 45. 121 The agg￿gate am¢)unt of Wties payable or repayable *lKAly or in part more fve years after the repofting date is.. 2021 2020 Payable or repayable by Instslm￿ts 414,397 45,121 Al the beginning of the year there were t￿) lo￿. bth *ilh Uoyds Bank. The first loan wa$ for £900.000. repayable over 10 year5 at an inter8St rat• of 4.15% and secured over the leasehold ￿lId1￿J$ at Basingsloke and Ne*lMry. The secorbj ban was for £239.000" repayable ovew 5 years at an w)terest rate of 3.97% and secured on a Iloating charge over all the assets of the Chwty. The remaining balance on both these loans were re•paid to Lloyds in January 2021 and replaced at the same tim& with a single new loan of £720.OCKI. This ban is repayable over 10 years at an Inte￿$t rate of 2.709%, and se¢ur¢d over the leasehold buiklirys at Basiigstoke and Newbury. In May 2020, the Charity was s￿ceSSfi￿ in an ap&*ation to Ltyls Bank a Coronavlrus Buslness Interruption Loan for £750.1)￿. This k)an is repayable over 6 yeats at an Interest rate of 1.51%. Page 40 TrIE BASINGSTOKE AND DISTRKT SPORTS TRUST LIIAITED (A Company by Guaran￿> NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENOED 31 IW¢CH 2021 21. Statement of funds Statemenl of funds- current year Balance at 31 March 2021 Balance at 1 G*ln81 Aprll 2020 Incom• Exp￿￿*ur& (L0$808 UTrre8trIC￿ funds General Revalualot) Pensic￿ reserve 1236231 616 11.376,IXW)I 1.718.643 (3.017.351) 162A77) 615 174,000) (93,r)001 (1,543,000) 1139,1541 1.718.643 (1091,351) (93.01>01 I1.604￿62) Restr1￿•d funds P￿1 redevelownent Men's changing room refurbishment Lsft refurbishment LadEs' thanging rC￿rn refurly'shmenl Air conditi"oThng in Shape la(les' 421,335 160,191) 381,144 32,500 65A50 12,500} {10,200) 30,￿0 55.250 97.614 15.324) 92,290 15.061 I1￿2>} 13,232 631.960 (80.044) 551,916 Total of lund8 492I06 1.718,643 13.171.395) (93,000) {1.052,946) P•Je 41 THE 8ASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (A Company Llffllted by Guawant••> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 21. Statem•nl of fund• {contlnued) Pool redeveloFrfnent represents £2.470.￿0 2008 a a donatth kn kind relatTrrKJ to the redevel0pKr￿nt of the %•ThnmirvJ FL￿. This is bel￿ released in line with the depreciation on the asset acquired. The rnen's changing room and lift refurbishments rewesent grants r￿e1ved of £50.000 and £102.000 specti¥ety, which are also being released in line with dep￿i￿on. In tho year end￿ 31 March 2019 a grant was rec￿ed totalling £122.5￿. The 9￿1 was received for the ladies, changing rocrfn and air cmdiboning in the Shape lad￿s, gym, splrt £104.241 and £18.259, respectivety. This 1$ being released in line deweciation. Conditsons of the grant indude the use of the assets ts a peric*J of not less than 7 yews. Ws after one year of COM￿etion. outcomes are to be monIto￿d, checked and evidence shv*n to ensure that the upjraded facilrties are being used for Ihg purpose inilialty slated. this carTring out a survey and slKthing an increase in female membership. In the year ended 31 March 2020 a grant was rKeived totalling £20,￿0 from the North Hampshire clinic￿ Group ICCG) for the w0vi￿0Th of programmes ta￿red for people with mental health needs. Page 42 THE BASINGSTOKE AND DIsTr￿T SPORTS TRUST UMrrED (A Company Llmttod by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 SLitement ol fvnds Icontlnued) SLitement ol fvnds- prlor year Balan¢0 81 31 March 2020 Gain &penthlure (Losses) l Aprf2019 unr0strfct￿ funds General R￿aluatIon Pension reBer¥e 1.446.624 615 (1.110.tXIO) I6{￿,609 {3.811.￿2) 1,236,231 615 (214,000) (1,376,000) (S2,(￿} 337,239 3.6￿,6(￿3 (3.863.Ci12) (214.000) (139. 154) R•slrl¢t•d lund• PrMA redevelopment Men's changing roc¥n refurtrHshment Lift refurbishment 481.526 (60.191) 421,335 (2,5￿? (10,2CQ) 32,500 65,4 75.6 Ladies, ¢han9ing roc refvrbishment r cond￿￿nIng in Shape la(the gym Mental health SeTh￿es prowsion 102.938 (5,324) 97,614 16.890 (1.829) 15.061 20.&W (20,000) 712. (ItJ).044) 631,960 Total of funds 1,049.243 3,620,609 (3.963,046) (214.000) 492,806 Page 43 THE BASINGSTOKE AND DISTRICT SPORTS TrUST LIMrrED (A Company Lknlted by Guarantee) NOTES TO THE HNANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2021 22. SunThary ol funds Sunynary of fvnds - ¢urr•nt year Balance at 31 Mar¢h 2021 Balance at 1 2020 In¢ome Expendlture G•ln ILos$esl General fvnds Restricted funds 1139,154> 1.718W 13.091,361) 631.960 180.044) (93,000) {1,604,862) 551.916 491806 1.718,643 13.171A95) 193,000) (1,052,946) summary of fund$ - prlor year 881ance al 31 March 2020 Balance al l Apn7 2019 Gains/ Incxym Expenditure (Lossos) General fijnds ReStr￿ted fund$ 337,239 712.CQ4 3.600.609 (3.861002) 20.CW (100,044) (214,000) (139.154) 631.960 1. 049.243 3.620,609 (3,963,046) (214.000) 492,806 Analys18 of n•t assets between fvnds Analy81s of net assets between funds- ￿TTent year Unvestrlcted Restrlcted fund• funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investrnents CLYrent assets Creditors due *ithin one year Creditors due in more than one y￿r pro￿lon5 for liabihties and charges 1.448.570 551,916 1000,4B6 403.815 1613.881) (1.3f)).3691 (1,$43.IXJOI 403.815 {613,881) (1,300,369) (1.543,000 {1.604.8621 551,916 (1.OB2,946 Page 44 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LwirrEO (A Company Llmlt•d by Guarant••) NOTES TO THE FINANCIAL STATEMEIWS FOR THE YEAR ENDED 31 MARCH 2021 Anaty•b of n¢t assots b¢tw•¢n lunds l¢onUnuod) Anaty8ls of net assets b¢¢￿Th funds- prfor year Total lunds 2020 fvnds 2020 fvnds 2020 Tangible fix￿ assets Fixed asset investrnents Current assets Creditors due Yrthin cffie year Creditors due in more Ihan one year Provisions for liablitss and charges 1.641.141 631.960 2.273.101 662,065 (417.008) (649.355) fl.376,IX￿) 662.065 (417,008) (649.355) (1,376,000) Total (139. 154) 631.960 492,806 R•conclllatlon of n•t mov•m•nt kn fund5 to net ca•h flow from o￿TatIng a¢tlvlll 2021 2020 Not exporkliture for the yew {a¥ p8r Statement of Financial ktlbry￿) 11A62.752) (342.437) Adjustments ftw: Dopre¢iation tharges Intsrest receivable (ProfitllLoss on the sale of fved assets De¢rease in St￿kS Decrease in debtors Increaselldecreasel in Credit￿5 Pension Interest payable 272,616 271.429 (2,461) 4.173 1.393 65,374 (36.952) 52.000 28.682 1,330 76,751 97,667 74,000 24,975 N¢t ¢￿h prOvId￿ byl{us¢d th) op¢ralthg a¢llvlllos 1905,5641 41,201 Page 45 ThE BASINGSTOKE AND DISTRICT SPORTS TRUST UMITED {A Company Lknll•d by Guarant•8) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2021 Analys1* of ca8h and cash equlvalents 2021 2020 Cash in hand Overdraft facility repayable on demand 357.596 {113 537, 765 (113) Totsl cash and ca8h •qulvalent8 357A83 $37,652 26. Analysls of chang•s In not d•bl At 1 Aprll 2020 Cash flows At 31 March 2021 Cash al bank and in haTr 537,766 {113) (70,426) (649,355} 1180.169) 367.596 (113> (99,2061 {169,631} 1651,014) (1,300,369) Bank overdrafts repayable on dern￿d Debt due 1 year Debt due aft￿ 1 year (182,128) 1930,389) (1,112,517 Ponslon comm11m￿ts The charity operates a defined benefit pension scheme. There is a defined contribulion aulwnroknent sd*n* vthich started in May 2014 and rs ￿th Aviva. The assets of the scheme are held separat4y from those of the tharity in an independently adminislered fund. The contributions payaLqe by trE company to the fvrthj amounted to £15.705 (2020.. £19.5181. There were no outstanding contributi￿$ to the lund at the year end12020'. £nill. The charity operates a defir¢d b￿fit pensh)n scheme. This is a Local Govemment Superannualion Scheme {LGSSI. The LGSS is a lunded wth the assets held in separate trustee-administered fvnd. The ernployer is the Bawngstoke and thstitl Sports Trust and the Fund Administering Authority is Hampshire County Coun(#l. Thé amounts in the financial statements for the year ended 31 March 2021 relats'ng to pensions were based a fijll actuarial valuation at 31 March 2019. by a qualifithl independent actuary, the actuary has rolled foNHd to 31 March 2021. The LGSS scheme is closed to new members. Page 46 THE BASINGSTOKE AND DISTRICT SPORTS TRVST LIMITED {A Company Lknltod by Guarante•) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2021 P•n8lon ¢ommllm•nts {eontlnuod) Pmclpal actuarial assuryttons at the Baancts Sheet date (expressed as wewjhted aver4esl: At 31 March At 31 Ma 2021 2020 Discount rate Future salary In¢yeases Future pensp)n increases CA inftation Pensicffi a¢¢wnts revaluat•)n rale 11 17 17 17 The other key assumpts'on is rTh)rtality rates. The mortality assumptions at the accounting date are bas•d on actual mrtality experience of members the fund based on anatysis carried out as part of the 2019 Actwial Valuation, and alk>w for eX￿ted fu￿re mortalty improvements. Sample life expectancies at age 65 in nrThal health resullin9 from these mortakty assumptKM)s are: At 31 March At 31 Ma￿h 2021 2020 Yearn Years Mortality r*es (in years) - a male aged 65 nchv -at65foram*aged45n - a female aged 65 n(r - at 65 for a female aggd 45 n 23.1 23.0 24.7 25.5 27.3 25.5 27.2 The approxmate irw of changirwj the key assuMPtx￿ on the wegent value of the funded defined benefit oblyation is set (yjt S•nsltlvlty anatysls At 31 March At 31 PA8 2021 2020 Discount rate +0.1% 19S,0001 (81,OLKI) 95,000 82,OCIg 185,000 139,000 1190,OIJO) (140,ooo) 86,1 74,OQO 185.OlXI) 173,OQO) Discount rate ￿.1% Mortalty assumption- 1 Ye￿ inc¥ease Mortality assumption- 1 year deuease CPI rate +0.1% CPI rate-0.1% Pa9e 47 THE BASINGSTOKE AND DISTrKT SPORTS TRUST LIMITED IA Company Llmlted ty Guaranlo01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PMRCH 2021 Penslon G(vnmlkn•nts Icontlnu•dl The charitys share of the assels in Ihe scheme vras.. Al 31 March At31 March 2021 2020 Eqiities i3￿8MMent t￿ndS Property Cash (Xher 2.136,360 228,630 648AOO 52A70 682.140 1,618,940 669, roo 224,260 61.440 497.660 Total falrvalue of assets 3,748.000 3.072.000 The actual retum on scheme assets YAS £705.{￿ gain P020- £I57.OC￿ loss). The amounts re¢c¥Jnised in Ihe Statemw)t of Financtal kkn¥ibes are as follows.. 2021 2020 Current $eNice cost Past service cost Interest irKome Interest cost (109.IKIO) (118.000) (It,000) 70.000 78,000 (101.000) (103,000) Totsl amount r•cOgnIs￿ In th• Stat•mtht of Flnanclal Actlvltles (140.OiKI) (154,000) Movements in the present value of the defKwJ benefft obb3atK)n were as follows." 2021 2020 OpenirvJ defined benefit oblwation Current sep4ice cost Interest cost Conthbulions by scheme pathipants Actuarial lossesllgains) Benefts pa*J Past semce costs 4448,000 4.370.000 109.000 118.000 101,000 103,000 22,000 24,000 728,000 121.000) {117,0001 (157,000) 11,000 Closlng d•fin•d b•nefft obllgallon 5291,000 4.448.000 THE BASINGSTOKE AND DISTRICT SPORTS TRUST LIIMTED IA Cryiny Llmttod by Guarnnte•} NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2021 Ponslon ¢ommkni•nts (eontlnuedl Movements in the fa￿ valje of the share of 8d￿me assets were as fdhyws: 2021 2020 Openwig fair va￿• of SGheme assets Expected rebjm on assets Actuarial gainsl{losses) Contrlyjlions by errq)l¢)yer Contr*Julions by scheme pwtKI'pants Benefits paid 3,072mO 3.260.000 70.000 78,000 635.000 (235,000) 66,000 102.000 22.000 24.000 1117.000> (157,000) Ckffjlng falr value of 8¢h•m• 4$80ts 3,748,IX)O 3.072.000 The charity expects to contrilwte £68.OLKI to its 1Sefined benefft pensK)n scheme during the year ending 31 March 2022. Op•ratlng ha8• ctynmllm•nts At 31 Marth 2021 the charity had ¢￿7Th*brents to make lubJr8 minirwm lease payments under rKn- Car￿lIable operat#ig leases as folb•ts: 2021 2020 Not later than 1 year Later than 1 year and not later than 5 yea Later than 5 years 298201 820210 1,296￿00 313.603 909.087 1,494,000 2N14A11 2. 716.690 The fdlowng *e Pa￿nents arKI in paynxnts have been re¢cgnised in the Statement of Financia kntivths.. 2021 2020 Operating lease rentals Changes in lease paymerots arisirtrj frcth COVIt>19 relatej concessions 309.101 322,603 B7JJOO Page 49 THE BASINGSTOKE AND DISTRKT SPORTS TRUST LIPAITED (A Conwny Llmll•d by Guarant••) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Rolated party tranuctlons No transaction related parti8s occurred tn year that are requwed to be disclosed under Charities SORP (FRS 102). Post balance shegt •v?nts Since the Covid-19 pandern￿ began in eaty 2020. The Basirgstok? and Otstrict Sports Trust Ltd has been under signifi¢ant cash-llow pressure. as county wide k)ckduwns and wblic un¢ertabnty have reduced membership numbers and h'mited activibes (K) offer. In the light of the above. the Board of Trustee$ expkjred a range of options *thich *￿uld grve the charity sufficient time to r&build its finan¢ial reserves. One of Ihe options considered ¥rd5 a nwer with anotlw organisation that had similar aims, rKI this led to merger discussions *ilh GweeTrAich Leisure Ltd. On the 14th December W21 Ihe entire Board of Trustees voted to resign and was replaced on 15th D￿mber 2021 by new Trustees. m* up of indiiriduals nominated by Greenwich Leisure Ltd. This gave Greenwich Leisure Ltd (GLL) Control of The Basmgstoke and District Sports Trust Ltd and facilitated the commencement of finanoal support thrrA￿h an Inter<0m￿Y k)an arrangement unil the charity can be fulty merged into GLL. It is GLL'S intention to lulty mwge The Basingstoke and Distitt Spjrts Trust Ltd into the existing GLL legal entity. to then close The Basingstoke and District Sp)rts Tnjst Ltd as a company registered at Compan￿$ Hcws8 and as a charity register&J the Charty Commission. This wll k done as soon as is practical and once CLNnpleled. the simxts centres at B*"n9Stoke wll be much more finanualty secure moving 10Th￿rd. ## **Document Activity Report** ## **Document Sent** Fri, 28 Jan 2022 16:44:38 GMT ## **Document Activity History** Document history shows most recent activity first **Date Activity** Sun, 30 Jan 2022 09:17:59 GMT Terry Martin viewed the document Sun, 30 Jan 2022 09:17:46 GMT Terry Martin viewed the document You can verify that this is a genuine Portal document by uploading it to the following secure web page: **https://wiseandco.accountantspace.co.uk/messages/VerifyDocument**