REGISTERED COMPANY NUMBER: 00980152 (England and Wales)
REGISTERED CHARITY NUMBER: 301731
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 to 8 |
Notes to the Financial Statements |
9 to 18 |
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE) (REGISTERED NUMBER: 00980152)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trusteeswho are alsodirectorsof the charityfor the purposesof the CompaniesAct 2006,presenttheirreport with
the financialstatementsof the charityfor the yearended31 December2023.The trusteeshaveadoptedthe provisions
ofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUK andRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Basingstoke & District Sports Trust (BST) is a charitable company limited by guarantee.
Onthe14thDecember2021,theentireBoardofTrusteesinBSTvotedtoresignandwerereplacedby individuals
nominated by Greenwich Leisure Limited (GLL) on 15th December 2021.
BST issueda licenseto operateto GLL from the 1st April2022.At this point,all the tradingactivitiesmovedto GLL and
the staff were TUPEd across.
ThepensionagreementheldbyBSTceasedasatthe31stMarch2022whenthestaffleftthescheme.The scheme
wasunderwrittenbyBasingstokeCouncilwhothereforesubsumedtheassetsorliabilitiesatthatpoint.There is
therefore no pension liabilities or assets in BST since then.
GLL has occupation of 2 BST leased buildings under license.
BSTdoesnottradewiththepublic.BST'sonlytransactionistheprocurementofgasandelectricitybecauseof2 long
standing utility contracts that existed on transfer. It recharges GLL the cost of the gas and electricity at cost.
Eventually, when the utility contracts end, this company will be struck off.
Public benefit
BST has given Greenwich Leisure Limited a licence to use its assets in the delivery of its objects.
GreenwichLeisureLimited'sobjectsareamatchtothecharity'sobjectsandtherefore,theCharityconsidersthatit is
delivering the public benefit as might have been expected had BST been operating the facilities directly.
The Trusteesconfirmthat throughGreenwichLeisureLimitedthey have compliedwith the dutiesin Section17(5)of the
Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
WehavereferredtotheCharityCommissiongeneralguidanceonpublicbenefitwhenreviewingouraims and
objectivesandinplanningourfutureactivities.Inparticular,theTrusteesconsiderhowplannedactivities through
Greenwich Leisure Limited will contribute to the aims and objectives that they have set.
Page 1
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE) (REGISTERED NUMBER: 00980152)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Financial position
All expenditure incurred is recharged to GLL who are delivering the services.
As such, the Charity's EBITDA is £0.
Fixedassetscontinueto be depreciatedin the accountscausinga deficitto the accountsin the shortterm.Thisis then
recharged to GLL. There have been no cashflow implications.
PermissionwasgrantedbytheCharityCommissionin2023forBSTtodonateitsassetstoGLL.Weare awaiting
consentfromoneof the landlordsto allowus to novatethe leaseandassetsacrossto GLLat whichstagethe process
of BST's donation of its asset (at net book value) to Greenwich Leisure Limited will be concluded.
Reserves policy
TheTrusteesrecognisetheneedforaleveloffinancialreservesthatwillshieldthecharityfromthepossibility of
adverseunforeseencircumstances.Theseunforeseencircumstancesincludeanynumberofeventsthatmay be
identified as a risk from time to time. There are no risks foreseen at this time.
Under the current arrangements, all trading risks have been removed and passed on to Greenwich Leisure Limited.
TheBoardconsideredthelevelofreservestobeappropriatefortheCharitytobeabletodeliverservicesto its
beneficiaries through Greenwich Leisure Limited.
As at December2023thetotalvalueof thefundsstoodat (£398,543).Thevalueof restrictedfundswas £348,130 and
the value of unrestricted reserves was (£746,673).
Going concern
These accounts have been prepared on a basis other than going concern.
Sincethe1stofApril2022,theday-to-dayprovisionofservicesatBSTfacilitieshavebeenundertakenbyGLL. GLL
continuestofinanciallysupportBSTthoroughaloanfacilityagreementandwillcontinuetodosountilBSTis fully
merged into GLL.
BST, as a subsidiaryof GLL, will continueto procureelectricityunder an existingcontractwith the utilitysupplierfor both
Leisure Centres until March 2025.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheBasingstokeandDistrictSportsTrustLimited(BST)isacompanylimitedbyguarantee.BSTisgovernedby its
Memorandum and Articles of Association and was incorporated on 20 May 1970.
ThegoverningdocumentwasreplacedbySpecialResolutionon28March2018whenitwasupdatedandis now
predominantly based on the Charity Commission's model articles.
Anyonecan becomea memberof the company,and therecurrently9 memberseachof whichagreedto contribute £10
in the event of the charity winding up.
Page 2
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE) (REGISTERED NUMBER: 00980152)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Continues to be the same as per last year. The key changes that were agreed in 2022 included the following: -
As a condition of the financial support the planned merger was agreed by both the BST board and the GLL board.
The decision to replace the Directors of BST by those nominated by GLL.
The GLL board nominated a mix of the GLL Trustees and GLL chief officers and GLL Directors.
ThisprovidedthecontroltoprotectGLL'sfinancialsupport.Thesupportwasprovidedintheformofaworking capital
loan.
Weconfirmthatthemembers,directorsandthetrustee/softhecompanyarealloneandthesameandhave equal
voting rights of one equal vote each.
Weconfirmthatnoindividualsormembersreceivesanybenefits,profitsoranyformoffinancialbenefitfrom the
business/charity and in the event of dissolution the liability of each individual or member is no more than £10.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00980152 (England and Wales)
Registered Charity number
301731
Registered office
Festival place
BASINGSTOKE
Hampshire
RG21 7LE
Trustees
A Bindon
P K Bundey
P E J Donnay
K Gainda (appointed 16.1.23)
J Jardine
E Lewis
C Myring (resigned 31.3.23)
L A Patrinos
P E Ray
M Sesnan
C Lyons (resigned 11.1.23)
Company Secretary
P E Ray
Page 3
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE) (REGISTERED NUMBER: 00980152)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Mrs C Rayner FCA DChA
McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX
Approved by order of the board of trustees on 6 June 2024 and signed on its behalf by:
P E Ray - Secretary
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
Independent examiner's report to the trustees of Basingstoke and District Sports Trust Limited (The) ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2023.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthattheaccountsof theCompanyarenotrequiredto be auditedunderPart16 of the2006 Act
and are eligiblefor independentexamination,I reportin respectof my examinationof yourcharity'saccountsas carried
outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbe a memberof a listedbody.I can confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountants in
England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs C Rayner FCA DChA
McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX
10 June 2024
Page 5
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Notes
INCOME AND ENDOWMENTS FROM
Other trading activities
4
EXPENDITURE ON
Charitable activities
5
Provision of health and fitness services
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
14
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
491,168
420,446
-
420,446
70,722
9,000
-
79,722
(826,394)
(746,672) |
Restricted
funds
£
-
70,722
-
70,722
(70,722)
(9,000)
-
(79,722)
427,851
348,129 |
Year Ended
31.12.23
Total
funds
£
491,168
491,168
-
491,168
-
-
-
-
(398,543)
(398,543) |
Period
1.4.22
to
31.12.22
Total
funds
£
135,102
325,827
3,260
329,087
(193,985)
-
1,070,000
876,015
(1,274,558)
(398,543) |
|
|
|
|
|
The notes form part of these financial statements
Page 6
BASINGSTOKE AND DISTRICT SPORTS TRUST LIMITED (THE) (REGISTERED NUMBER: 00980152)
BALANCE SHEET 31 DECEMBER 2023
Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Stocks
10
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS/(LIABILITIES)
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
887,728
1,322
-
16,052
17,374
(1,651,775)
(1,634,401)
(746,673)
(746,673) |
Restricted
funds
£
471,875
-
-
-
-
(123,745)
(123,745)
348,130
348,130 |
31.12.23
Total
funds
£
1,359,603
1,322
-
16,052
17,374
(1,775,520)
(1,758,146)
(398,543)
(398,543)
(746,673)
348,130
(398,543) |
31.12.22
Total
funds
£
1,610,412
1,322
4,982
33,313
39,617
(2,048,572)
(2,008,955)
(398,543)
(398,543)
(826,394)
427,851
(398,543) |
|
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection479AoftheCompaniesAct2006relating to
subsidiary charitable companies for the year ended 31 December 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE) (REGISTERED NUMBER: 00980152)
BALANCE SHEET - continued 31 DECEMBER 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon6June2024and were
signed on its behalf by:
P E J Donnay - Trustee
The notes form part of these financial statements
Page 8
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
Basingstoke& DistrictSportsTrustLimitedis a privatecharitablecompanylimitedby guarantee.The members
ofthecharitablecompanyarethetrusteesnamedonpage2.Intheeventofthecharitybeingwoundup, the
liability in respect of the guarantee is limited to £10 per member of the charity.
ThecompanyisincorporatedinEngland&Wales.Theregisteredofficeandprincipaladdressis Basingstoke
Sports Centre, Festival Place, Basingstoke, Hampshire, RG21 7LE.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisa publicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention.
Going concern
Theseaccountshavebeenpreparedon a basisotherthangoingconcern.Thedayto dayprovisionof services
atBSTfacilitiessince1April2022hasbeenundertakenbyGLL.GLLisseekingamergerwithBSTand will
financially support BST through loan facility agreement which will operate until BST is fully merged into GLL.
BST, as a subsidiaryof GLL, will continueto procureelectricityunderan existingcontractwith the utility supplier
for both Leisure Centres until March 2025.
Other income
OtherincomerecognisedintheStatementofFinancialActivitiesisfortherechargeofutilitiesto Greenwich
LeisureLimitedwhom operatethe Leisuresite. Rechargesof incomeare recognisedat the point utility expenses
are incurred by the charitable company.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasis and
hasbeenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannot be
directlyattributedto particularheadingstheyhavebeenallocatedto activitieson a basisconsistentwith the use
of resources.
Grants
Grantsreceivablearerecognisedinthefinancialstatementsoncetheconditionsrelatingtotheirreceipt have
beensatisfied.Grantsreceivedinrelationtofixedassetshavebeenrecogniseduponreceiptasa restricted
reserve which is released in line with the depreciation on these assets.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
Short leasehold
- 2% straight line
continued...
Page 9
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Long leasehold- 2% straight line
Improvements to property- 5 - 20% straight line
Plant and machinery- 10 - 20% straight line
Fixtures and fittings- 10 - 20% straight line
Sports equipment- 10 - 25% straight line
Computer equipment- 33.3% straight line
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfunds can only be used for particularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Intheapplicationofthecharity'saccountingpolicies,thetrusteesarerequiredtomakejudgements, estimates
andassumptionsaboutthecarryingamountofassetsandliabilitiesthatarenotreadilyapparentfrom other
sources.Theestimatesandassociatedassumptionsarebasedonhistoricalexperienceandotherfactors that
are considered to be relevant. Actual results may differ from these estimates.
Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionsto accounting
estimatesarerecognisedintheperiodinwhichtheestimateisrevisedwheretherevisionaffectsonly that
period,orintheperiodoftherevisionandfutureperiodswheretherevisionaffectsbothcurrentand future
periods.
continued...
Page 10
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
4. OTHER TRADING ACTIVITIES
Year Ended
31.12.23
£
Utility recharges
240,359
Other recharges
250,809
491,168 |
Period
1.4.22
to
31.12.22
£
129,365
5,737 |
|
135,102 |
5. CHARITABLE ACTIVITIES COSTS
|
Direct Costs |
Direct Costs |
|
Year ended |
Period ended |
|
31.12.2023 |
31.12.2022 |
|
£ |
£ |
|
|
|
Provision of health and fitness services |
491,168 |
325,827 |
|
|
|
|
|
|
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
|
Period |
|
|
1.4.22 |
|
Year Ended |
to |
|
31.12.23 |
31.12.22 |
|
£ |
£ |
Depreciation - owned assets |
250,809 |
193,985 |
7. TRUSTEES' REMUNERATION AND BENEFITS
Therewere no trustees'remunerationor otherbenefitsfor the yearended31 December2023nor for the period
ended 31 December 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2023norfortheperiod ended
31 December 2022.
continued...
Page 11
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Other trading activities
135,102
EXPENDITURE ON
Charitable activities
Provision of health and fitness services
281,803
Other
3,260
Total
285,063
NET INCOME/(EXPENDITURE)
(149,961)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
1,070,000
Net movement in funds
920,039
RECONCILIATION OF FUNDS
Total funds brought forward
(1,746,433)
TOTAL FUNDS CARRIED FORWARD
(826,394)
9.
TANGIBLE FIXED ASSETS
Short
Long
leasehold
leasehold
£
£
COST
At 1 January 2023 and 31 December 2023
68,757
628,503
DEPRECIATION
At 1 January 2023
27,733
348,818
Charge for year
3,717
12,570
At 31 December 2023
31,450
361,388
NET BOOK VALUE
At 31 December 2023
37,307
267,115
At 31 December 2022
41,024
279,685 |
Restricted
funds
£
-
44,024
-
44,024
(44,024)
-
(44,024)
471,875
427,851
Improvements
to
property
£
5,507,096
4,735,309
105,755
4,841,064
666,032
771,787 |
|
Total
funds
£
135,102
325,827
3,260
329,087
(193,985)
1,070,000
876,015
(1,274,558)
(398,543)
Plant and
machinery
£
1,208,670
1,005,985
44,539
1,050,524
158,146
202,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 12
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
9. TANGIBLE FIXED ASSETS - continued
Fixtures
and
fittings
£
COST
At 1 January 2023 and 31 December 2023
643,690
DEPRECIATION
At 1 January 2023
584,732
Charge for year
16,481
At 31 December 2023
601,213
NET BOOK VALUE
At 31 December 2023
42,477
At 31 December 2022
58,958
10.
STOCKS
Stocks
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors |
Sports
equipment
£
806,014
549,741
67,747
617,488
188,526
256,273 |
Computer
equipment
£
88,177
88,177
-
88,177
-
-
31.12.23
£
1,322
31.12.23
£
-
-
- |
Totals
£
8,950,907 |
Totals
£
8,950,907 |
|
|
|
7,340,495
250,809 |
|
|
|
|
7,591,304 |
|
|
|
|
1,359,603 |
|
|
|
|
1,610,412 |
|
|
|
|
31.12.22
£
1,322
31.12.22
£
3,739
1,243
4,982 |
|
|
|
|
|
4,982 |
continued...
Page 13
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income |
31.12.23
£
-
4,447
1,723,996
47,077
1,775,520 |
31.12.22
£
1
-
1,980,078
68,493 |
|
|
2,048,572 |
IncludedwithinothercreditorsisanintercompanyloanbalancewithGLLinthesumof£1,723,996 (2022:
£1,980,078).
Included within accruals and deferred income is deferred income as follows:
|
Year ended
31.12.2023 |
Period ended
31.12.2022 |
|
£ |
£ |
|
|
|
Deferred income at 1 January 2023 |
- |
55,985 |
Resources deferred during the year |
- |
- |
Amounts released from previous periods |
- |
(55,985) |
|
|
|
Deferred income at 31 December 2023 |
- |
- |
|
|
|
13. LEASING AGREEMENTS
At31December2023thecharityhadcommitmentstomakefutureminimumleasepayments under
non-cancellable operating leases as follows:
|
Year ended
31.12.2023 |
Period ended
31.03.2022 |
|
£ |
£ |
|
|
|
Not later than 1 year |
188,153 |
212,611 |
Later than 1 year and not later than 5 years |
648,000 |
692,153 |
Later than 5 years |
900,000 |
1,044,000 |
|
|
|
|
1,736,153 |
1,948,764 |
|
|
|
Theoperatingleasesaboverelatetopremisesfromwhichleisurefacilitiesareoffered.Inadditiontothis, the
leases above also include gym equipment.
FollowingthetransferoftradeandactivitiestoGreenwichLeisureLimitedon1April2022,allleasesare now
beingfinancedandaccountedforbyGreenwichLeisureLimitedwiththeexceptionofgymequipmentwhich is
stillbeingpaidbyBasingstokeandDistrictSportsTrust.ThisishoweverthenrechargedtoGreenwich Leisure
Limited.
continued...
Page 14
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. LEASING AGREEMENTS - continued
Therefore,whilethe leasesare in the nameof Basingstokeand DistrictSportsTrust,GreenwichLeisure Limited
have agreed to bare the cost of these leases.
The following lease payments have been recognised in the Statement of Financial Activities:
|
Year ended |
Period ended |
|
31.12.2023 |
31.03.2022 |
|
£ |
£ |
Operating lease rentals |
35,575 |
24,458 |
Recharged to GLL |
(35,575) |
(24,458) |
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Pool redevelopment
Men's changing room refurbishment
Lift refurbishment
Ladie's changing room refurbishment
Air conditioning in Shape ladie's gym
TOTAL FUNDS |
At 1.1.23
£
(826,394)
269,204
23,425
43,983
81,659
9,580
427,851
(398,543) |
Net
movement
in funds
£
70,721
(42,332)
(5,434)
(13,422)
(7,099)
(2,434)
(70,721)
- |
Transfers
between
funds
£
9,000
-
-
(9,000)
-
-
(9,000)
- |
At
31.12.23
£
(746,673)
226,872
17,991
21,561
74,560
7,146
348,130
(398,543) |
|
|
|
|
|
continued...
Page 15
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Pool redevelopment
Men's changing room refurbishment
Lift refurbishment
Ladie's changing room refurbishment
Air conditioning in Shape ladie's gym
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Pool redevelopment
Men's changing room refurbishment
Lift refurbishment
Ladie's changing room refurbishment
Air conditioning in Shape ladie's gym
TOTAL FUNDS |
Incoming
resources
£
491,168
-
-
-
-
-
-
491,168
At 1.4.22
£
(1,746,433)
300,953
27,500
45,050
86,966
11,406
471,875
(1,274,558) |
|
Resources
expended
£
(420,447)
(42,332)
(5,434)
(13,422)
(7,099)
(2,434)
(70,721)
(491,168)
Net
movement
in funds
£
920,039
(31,749)
(4,075)
(1,067)
(5,307)
(1,826)
(44,024)
876,015 |
Movement
in funds
£
70,721
(42,332)
(5,434)
(13,422)
(7,099)
(2,434)
(70,721)
-
At
31.12.22
£
(826,394)
269,204
23,425
43,983
81,659
9,580
427,851
(398,543) |
|
|
|
|
|
|
|
|
|
|
continued...
Page 16
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Pool redevelopment
Men's changing room refurbishment
Lift refurbishment
Ladie's changing room refurbishment
Air conditioning in Shape ladie's gym
TOTAL FUNDS |
Incoming
resources
£
135,102
-
-
-
-
-
-
135,102 |
Resources
expended
£
(285,063)
(31,749)
(4,075)
(1,067)
(5,307)
(1,826)
(44,024)
(329,087) |
Gains and
losses
£
1,070,000
-
-
-
-
-
-
1,070,000 |
Movement
in funds
£
920,039
(31,749)
(4,075)
(1,067)
(5,307)
(1,826)
(44,024)
876,015 |
|
|
|
|
|
POOL REDEVELOPMENT
Pool redevelopmentrepresents£2,470,000receivedin 2008 as a donationin kind relatingto the redevelopment
of the swimming pool. This is being released in line with depreciation on the asset acquired.
MEN'S CHANGING ROOM REFURBISHMENT
Themen'schangingroomrefurbishmentrepresentsa grantreceivedof £50,000whichis beingreleasedin line
with depreciation.
LIFT REFURBISHMENT
The lift refurbishment represents a grant received of £102,000 which is being released in line with depreciation.
LADIES CHANGING ROOM REFURBISHMENT AND AIR CONDITIONING
Intheyear31March2019,agrantwasrecievedtotalling£122,500.Thegrantwasreceivedforthe changing
room and air conditioning in the Shape ladies gym, split £104,241 and £18,259 respectively.
This is being released in line with depreciation.
Conditionsof the grantincludethe useof the assetsfor a periodof not lessthan7 years,plusafteroneyear of
completion,outcomesaretobemonitored,checkedandevidenceshowntoensurethattheupgraded facilities
arebeingusedforthepurposeinitiallystated.Thisincludescarryingoutasurveyandshowinganincrease in
female membership.
continued...
Page 17
BASINGSTOKE AND DISTRICT SPORTS TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
15. RELATED PARTY DISCLOSURES
DuringtheyearGreenwichLeisureLimited,thecontrollingparty,madeanumberofloanadvancesto the
charity. At the balance sheet date £1,723,996 was owed to Greenwich Leisure Limited.
16. ULTIMATE CONTROLLING PARTY
GreenwichLeisureLimitedis the controllingpartyof the charitythroughits majorityrepresentationon the board
of trustees.GreenwichLeisureLimitedis registeredas a co-operativeand communitybenefitsociety, registered
number27793Randitsprincipalpurposesaretodeliversustainableandaffordableprovisionoffacilities and
servicesfor thepublicbenefitfor recreational,sporting,culturalandotherleisuretimeoccupationin the interest
of social welfare, healthy living and education.
Page 18