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|FOR THE YEAR|ENDED 31 DECEMBE|R 2021||
|---|---|---|---|
|||2021|2020|
|INCOME AND EXPENDITURE ACCOUNT (page 19)||||
|Turnover||1,181,307|969,181|
|Cost ofSales||(1,21 9,532)|(1,305,942)|
|Administrative
Expenses||(721,456)|(798,658)|
|Government
Grants
—Furlough||370,179|488,544|
|Revenue
Grants —Sport England||254,893||
|Other Grant - Local Authority||43,643||
|Net Interest Expenses||~34415|~25 034|
|(Deficit) for the year||~125 381|~671 909|
|BALANCE SHEET (page 20)||||
|Tangible
Fixed Assets||6,628,082|7,084,557|
|Net Current
(Liabilities)/Assets||202,736|264,227|
|Creditors: Due more than one|year|~1147154|1 219406|
|Net Assets||5 683664|6 129378|
|Restricted
Funds||4,749,502|5,069,835|
|Unrestricted
Funds||934 162|1 059 543|
|Total Funds||5 683664|6 129378|
|CAPITAL EXPENDITURE (page 26)||||
|Capital additions
during the year|||1 220|
|MEMBERSHIP NUMBERS||Number|Number|
|||(February 2022)(February 2021)||
|Life||1,749|1,759|
|Ultra/Easyplay/Executive||806|925|
|Principal/Reds||95|104|
|Off Peak||30|32|
|Student/Youth/Junior/Infant/E.|C.L.T.A.|1 657|2 029|
|||4 337|4 849|
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||Restricted|Unrestricted|Total||Total||
|---|---|---|---|---|---|---|
||Funds|Fund (income|2021||2020||
||(Capital|and|||||
||Grants)|Expenditure|||||
|||Account)|||||
|INCOME:|||||||
|Income from generated
funds|||||||
|Investment
Income||142||142||627|
|Restricted
Funds|||||||
|income from charitable
activities|||||||
|Membership
Fees||149,161|149,161||126,946||
|Use of Facilities||1 032 146|1 032|146|842|235|
|Tot.al Income||1 181449|1 181|449|969|808|
|EXPENDITURE|||||||
|Charitable
Activities (Note 3)||2,243,535|2,243,535||2,401,308||
|Governance
Costs
(Note 4)||17,786|17,786||25,654||
|Other Resources Expended|||||||
|Interest Charges
(Note 21)||34557|34|557|25|661|
|Total Expenditure||2 295 878|2 295|878|2452|623|
|NET MOVEMENT BEFORETRANSFERS||(1,114,429)|(1,114,429)||(1,482,816)||
|GROSS TRANSFERS BETWEEN FUNDS|||||||
|Amortisation
of Capital Grants|(320,333)|320,333|||||
|GOVERNMENT
GRANT||370,179|370,179||488,544||
|OTHER GRANTS||298 536|298|536|||
|NET MOVEMENT
IN FUNDS|(320,333)|(125,381)|(445,714)||(994,272)||
|RECONCILIATION
OF FUNDS|||||||
|Total Funds Brought Forward|5 069 835|1 059 543|6 129|378|7 123|650|
|Total Funds Carried
Forward|4 749 502|934 162|5683|664|6.129|378|
##
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|FOR|THE|YEAR ENDED 31|DECEMBER|2021||
|---|---|---|---|---|---|
||||Note|2021|2020|
|TURNOVER||||||
|Membership
Fees||||149,161|126,946|
|Use of Facilities||||1 032 146|842 235|
|||||1,181,307|969,181|
|COST OF SALES||||||
|Direct Costs||||(1,539,865)|(1,628,305)|
|Allocation
from Restricted|Fund|in respect of||320,333|322,363|
|amortisation
of Capital Grants||||||
|||||~1219552|~1555 942|
|GROSS REVENUE (DEFICIT)||||(38,225)|(336,761)|
|GOVERNMENT
GRANTS||||370,179|488,544|
|OTHER GRANTS||||298,536||
|ADMINISTRATIVE EXPENSES||||(721,456)|(798,658)|
|OPERATING (DEFICIT)||||(90,966)|(646,874)|
|INTEREST RECEIVABLE||||142|627|
|INTEREST PAYABLE|||21|~34 557|25 661|
|DEFICIT FOR THE YEAR|||12|125381|671 909|
##
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|||Note|2021|2020|
|---|---|---|---|---|
|||||f|
|FIXEDASSETS|||||
|Tangible Assets|||6,628,082|7,084,557|
|CURRENT ASSETS|||||
|Stock|||1,568|1,978|
|Debtors|||123,844|104,793|
|Cash at Bank and
ln Hand|||619935|655 116|
||||745,347|761,887|
|CREDITORS: DUE WITHIN ONE YEAR|||||
|Bank Loan||10|72,000|36,844|
|Other Loan|||1,000|1,000|
|Trade Creditors|||53,483|40,506|
|Taxation 8 Social Security|||60,202|48,811|
|Accruals and Other Creditors|||240,479|223,290|
|Deferred
Income||20|115,447|144,404|
|Hire Purchase||10||2 805|
||||542,611|497,660|
|NET CURRENT (LIABILITIES)/ASSETS|||202,736|264,227|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||6,830,818|7,348,784|
|CREDITORS: DUE MORE THAN ONE YEAR||10|(1,147,154)|(1,219,406)|
|NET ASSETS|||5,683,664|6,129,378|
|THE FUNDS OF THE CHARITY|||||
|Restricted —Capital Grants||11|4,749,502|5,069,835|
|Unrestricted
—Income and Expenditure|Accounts|12|934,162|1,059,543|
|TOTAL CHARITY FUNDS||14|5683664|6 129378|
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||FOR|THE|YE|AR|ENDED 31|DECEMB|ER 2021||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||f||
|CASH FLOW FROM/(USED)||BYOPERATING ACTIVITIES|||||39,135|(520,920)|
|CASH FLOWS FROM|INVESTING||ACTIVITIES||||||
|Interest income|||||||142|626|
|Purchase
oftangible|fixed|assets||||||(1,220)|
|Profit on disposal offixed assets|||||||||
|CASH PROVIDED BY/(USED||IN) INVESTING ACTIVITIES|||||142|594|
|CASH FLOWS FROM|FINANCING||ACTIVITIES||||||
|Interest paid|||||||(34,557)|(25,661)|
|Repayment
of loan|||||||(37,096)|(502,071)|
|New loan||||||||1,256,250|
|Repayment
of HP|||||||~2805|~32 855|
|CASH (USED BY)/FROM FINANCING||||ACTIVITIES|||74458|695 663|
|(Decrease)/Increase
in cash||and|cash equivalents|||in the|35 181|174149|
|year|||||||||
|Cash and cash equivalents
at||the beginning|||ofthe year||655,116|480,967|
|TOTAL CASH AND CASH EQUIVALENTS|||||AT THE END OF||||
|THE YEAR (Note 22)|||||||619935|655 116|
|RECONCILIATION
OF|NET MOVEMENTS||||IN FUNDS|TO NET|CASH FROM OPERATING||
|ACTIVITIES|||||||||
||||||||2021|2020|
||||||||E|E|
|Net movement
in funds|||||||(483,992)|(994,272)|
|Add back depreciation|charge||||||476,578|525,812|
|Deduct interest income|shown|in investing|||activities||(142)|(626)|
|Add back interest payable|||||||34,557|25,661|
|Deduct depreciation
adjustment|||||||(4,544)||
|Decrease
in stock|||||||410|1,837|
|(Increase) Decrease
in|debtors||||||(19,051)|13,285|
|Increase/(decrease)
in|creditors||||||35319|~76 121|
|NET CASH GENERATED BY/(USED)|||OPERATING ACTIVITIES||||39 135|~520 920|
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|RESOURCES EXPE|NDED: CH|AR|ITABLE ACTIVITIES|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
|Resources expended|on Charitable||Activities are analysed|||
|as follows:||||||
|Payroll Costs|(Note 6)|||1,251,750|1,354,880|
|Depreciation|(Note 8)|||476,578|525,812|
|External Advertising||||6,250|19,794|
|Light and Heat||||128,197|123,093|
|Repair and Maintenance||Costs||135,622|102,732|
|Insurance||||58,125|54,969|
|Other Costs||||187,013|220,028|
|||||2 243 535|2401 308|
##
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|Resources expended|on Governance|Costs are analysed|as follows:|||
|---|---|---|---|---|---|
|Audit Fee||||9,000|9,000|
|Professional|Fees|||8786|16654|
|||||17786|25 654|
##
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|The result for the year is stated|aft|e|r ihe following:|||
|---|---|---|---|---|---|
|||||2021|2020|
|After char
in|||||E|
|Depreciation||||476,578|525,812|
|Auditors'
Remuneration||||||
|—Audit Fees||||9,000|9,000|
|-Accounting
and Financial||Reporting||4,650|7,380|
|Repair and Maintenance|costs|||135,622|102,732|
|Emoluments
of Chief Executive||||||
|Remuneration||||83,914|81,801|
|Pension
Contributions||||8649|8479|
|A~It
dttt||||||
|Release of capital grants||||320333|322 363|
|PAYROLL COSTS||||||
|The total payroll costs are analysed|||as follows:|||
|Salaries||||1,087,302|1,210,665|
|Employer's
National
Insurance||||65,737|59,801|
|Pension Costs||||37,067|25,076|
|Self-Employed
Contractor||||61,643|59,338|
|||||1,251,749|1,354,880|
|The average
number
ofemployees|||during the year was:|||
|||||Number|Number|
|Operational||||107|130|
|Management
and administration||||17|19|
|||||124|149|
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|FOR THE|YEAR ENDED 3|1 DECEMBER|2021||
|---|---|---|---|---|
|8.
TANGIBLE FIXEDASSETS|||||
||Freehold|Freehold|Furniture
8|Total|
||Land|Buildings|Equipment||
|Cost|||||
|Balance 1/1/2021|619,167|13,090,682|1,386,330|15,096,179|
|Additions||38,278|—|38,278|
|Disposals||(22,719)||(22,719)|
|Balance 31/12/2021|619167|13106241|1 386330|15111738|
|~5i 5|||||
|Balance 1/1/2021||6,726,477|1,285,145|8,011,622|
|Charge for Year
Disposals||442,737
~4,544|33,841|476,578
~4544|
|Balance 31/12/2021||7 164670|1 318986|8483 656|
|Net BookValue|||||
|At 31/12/2021|619167|5 941 571|67 344|6628 082|
|At 31/12/2020|619167|6364205|101185|7 084 557|
##
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||||FOR THE YEAR ENDED 31 DECEM|BER 2021||
|---|---|---|---|---|---|
|9.|DEBTORS|||2021|2020|
||Trade Debtors|||17,053|9,391|
||Prepayments||and accrued income|71,331|82,917|
||Redbridge|Sports Centre Social Club||35460|12485|
|||||123844|104793|
|||||2021|2020|
|||||f||
|10.|CREDITORS:||DUE MORE THAN ONE YEAR|||
||Bank Loan|||1,147,154|1,219,406|
||Hire Purchase|||||
|||||1 147 154|1 219406|
##
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##
|Funds|received
in respect offixed asset and|other exp|enditure:|||
|---|---|---|---|---|---|
|||||2021|2020|
||||||f|
||Balance at beginning
ofyear|||5,069,835|5,392,198|
||Additions
during
the year|||||
||Amortised
to Income and Expenditure|Account|in respect|||
||ofdepreciation
and other expenditure|during the year||~320 333|~322 363|
||Balance at end ofyear|||4 749 502|5 069 835|
|Included|within
other creditors on the balance|sheet are "funds held"||for restricted|purposes|
|of226,986(2020:223,430).||||||
|||2021|2020|
|---|---|---|---|
|12.|UNRESTRICTED FUND —INCOME AND EXPENDITURE ACCOUNT|||
||Balance at Beginning
ofyear|1,059,543|1,731,452|
||(Deficit) for the year|~125 381|~671 909|
||Balance at End ofYear|934 162|1 059 543|
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||||||||
|---|---|---|---|---|---|---|
|13.|ANALYSIS|OF NET ASSETS BETWEEN FUNDS|||||
||||Tangible|Other Net||Total|
||||Fixed Assets|(Liabilities)l|||
||||||Assets||
|||||||F|
||Restricted
Fund
—Grants||4,749,502|||4,749,502|
||Unrestricted|Fund-Income|and||||
||Expenditure|Account|1 878 580||~944 418|934 162|
||||6628 082||~944418|5 683 664|
|14.|MOVEMENT ON TOTAL||FUNDS AND RESERVES||||
|||||2021||2020|
|||||E||E|
||Income and|Expenditure
(Deficit)||(125,381)||(671,909)|
||Additions
to|Restricted
Funds
in the year|||||
||Allocation
from Restricted||Fund to Income and||||
||Expenditure|Account (Note 11)||~320|333|~322 363|
||Movement
for the year|||(445,714)||(994,272)|
||Total Funds|and Reserves|ai beginning||||
||ofyear|||6 129378||7 123650|
||Total Funds|and Reserves|at end ofyear|5 683664||6 129378|
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|bookings|and memb|ership|relating|to 2022.||||
|---|---|---|---|---|---|---|---|
||||||||f|
|Balance|as at 1/01/21||||||144,404|
|Amount|released to|income|earned|from charitable|activities||(144,404)|
|Amount|deferred
in|year|||||115447|
|Balance|as at 31/12/21||||||115447|
|INTEREST PAYABLE||||||||
|||||||2021|2020|
|||||||f|F|
|On Bank Loans||||||34,237|24,730|
|On Hire|Purchase|Contracts||||320|931|
|||||||34,557|25,661|
##
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##
|||BACKGROUND OF TRUST||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|March 1968||Loss of North
llford LTC's facilities at Beehive Lane, comprising:|8 tennis courts,|1|badminton|||||hall,||
|||1 table tennis
room,
through
grant
of planning
permission
to landlords
to build||houses|||on|||site-||
|||compensation
E1,000.||||||||||
|April 1968||Announced
intention
to build
a Sports Centre
which
would
be|financially
viable.||Sports||||Centre|||
|||Building
Committee
formed.||||||||||
|1968 - 1972||Fund raising - original target f40,000 rapidly rose over the period|to over f100,000.|||||||||
|November|1970|Redbridge
Sports Centre Trust Limited formed - a company
limited
by guarantee||and registered|||||||as|
|||a charity.
All funds previously
raised
in the name of NILTC transferred
into the charity.||||||||||
|March 1971||Building
started
- Phase
I. Indoor facilities
then
comprised:
Sports
Hall; 5 badminton|||||courts||||to|
|||international
standard
(as at present); 4 squash
courts; a games|room; changing||facilities||||for||100|
|||men and 70 ladies, and outside, a car park for 120cars and 5 tennis courts. Cost, a bargain,||||||||atjust||
|||F114,277.||||||||||
|20 March 1972||Sports Centre opened.||||||||||
|19June 1972||Official opening
by Princess Alexandra.||||||||||
|October 1974||Phase 2- Managers'
offices, games room above and store at the|far end ofthe Sports Hall.|||||||||
|August 1977||Phase 3 - 5th squash
court and tennis
pavilion
built.||||||||||
|July 1980||Phase 4 —6th and 7th squash
courts built and improved
offices.||||||||||
|May 1983||Phase 5 - All five outside
tennis courts re-surfaced
with
Omniturf|(sand filled).|All courts||||and|||car|
|||park floodlit.||||||||||
|June 1989||Phase 6 -comprising
new Conditioning
Room, Health
Suite, lounges
and activities|||room.|||All||main||
|||services and fire and safety installations
throughout
the Centre were upgraded.||||||||||
|December|1991|Freehold ofsite purchased||||||||||
|August 1994||Part of Oakfield site obtained
under
long lease for future development||||||||||
|September|1994|Phase 7 - Works commenced
on
I.T.I. Centre
comprising
8 indoor
tennis
courts
(opened||||||||July||
|||1995), 6 new outdoor
courts (opened
November
1994), new fitness
and aerobics/dance|||||||studios|||
|||(opened
March 1995).||||||||||
|November|1994|Redbridge
Tennis Club formed,
incorporating
North
llford L.T.C.||||||||||
|October 1997||Phase
8
— Works
commenced
to
build
2
floodlit
synthetic|grass
pitches||and|12|||floodlit|||
|||netball/tennis
courts on Oakfield
and substantial
pavilion —operational
from June||1998.||||||||
|December|2000|Phase
9 gym
extension
becomes
operational
—cardiovascular|machines
replaced||||with|||new||
|||Technogym
equipment
in December 2004.||||||||||
|January 2012||Phase 10 Sports
Hall,
comprising
12 Olympic
standard
badminton
courts and||ancillary|||facilities,|||||
|||opens for public and member use.||||||||||
|July-September||Centre
is utilised
as an Olympic
and
Paralympic
Training
Venue|for Badminton,||Wrestling,|||||Judo||
|2012||and Goalball.||||||||||
|November|2013|Works completed
to replace floodlit synthetic grass pitches.||||||||||
|December|2015|Major gym refurbishment,
new equipment
and improved
access control.||||||||||
|June 2017—||Improvements
to coffee shop,
bistro,
spinning
studio
and major|refurbishment|of|8 indoor|||||tennis||
|August 2019||courts.||||||||||
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