##
##
##
##
##
|FOR THE YEAR|ENDED 31 DECEMBE|R 2022||
|---|---|---|---|
|||2022|2021|
|||f||
|INCOME AND EXPENDITURE ACCOUNT (page 19)||||
|Turnover||2,075,052|1,181,307|
|Cost ofSales||(1,395,008)|(1,219,532)|
|Administrative
Expenses||(854,815)|(721,456)|
|Government
Grants
—Furlough|||370,179|
|Revenue
Grants —Sport England|||254,893|
|Other Grant
—Local Authority|||43,643|
|Net Interest Expenses||~42 956|~34415|
|(Deficit) for the year||~217727|~125381|
|BALANCE SHEET (page 20)||||
|Tangible
Fixed Assets||6,300,248|6,628,082|
|Net Current
(Liabilities)/Assets||99,030|202,736|
|Creditors:
Due more than one|year|~1076316|~1147154|
|Net Assets||5236 682|5 683664|
|Restricted
Funds||4,520,247|4,749,502|
|Unrestricted
Funds||716435|934 162|
|Total Funds||5236682|5 683 664|
|CAPITAL EXPENDITURE (page 26)||||
|Capital additions
during the year||59 387||
|MEMBERSHIP NUMBERS||Number|Number|
|||(February 2023)(February 2022)||
|Life||1,743|1,749|
|Ultra/Easyplay/Executive||1,240|806|
|Principal/Reds||84|95|
|Off Peak||28|30|
|Student/Youth/Junior/Infant/E.|C.L.T.A.|1 476|1 657|
|||4 571|4 337|
##
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##
||Restricted|Unrestricted|Total|Total||
|---|---|---|---|---|---|
||Funds|Fund (Income|2022|2021||
||(Capital|and||||
||Grants)|Expenditure||||
|||Account)||||
|INCOME:||||||
|Income from generated
funds||||||
|Investment
Income||3,513|3,513||142|
|Restricted
Funds||||||
|Income from charitable
activities||||||
|Membership
Fees||212,537|212,537|149,161||
|Use of Facilities||1 862 515|1 862 515|1 032|146|
|Total Income||2 078 565|2 078 565|1 181|449|
|EXPENDITURE||||||
|Charitable
Activities
(Note 3)||2,460,272|2,460,272|2,243,535||
|Governance
Costs
(Note 4)||18,806|18,806|17,786||
|Other Resources Expended||||||
|Interest Charges (Note 21)||46 469|46469|34|557|
|Total Expenditure||2 525 547|2 525 547|2 295|878|
|NET MOVEMENT BEFORETRANSFERS||(446,982)|(446,982)|(1,114,429)||
|GROSS TRANSFERS BETWEEN FUNDS||||||
|Amortisation
of Capital Grants|(229,255)|229,255||||
|GOVERNMENT
GRANT||||370,179||
|OTHER GRANTS||||298|536|
|NET MOVEMENT
IN FUNDS|(229,255)|(217,727)|(446,982)|(445,714)||
|RECONCILIATION
OF FUNDS||||||
|Total Funds Brought Forward|4749 502|934 162|5683 664|6 129|378|
|Total Funds Carried
Forward|4 520 247|716435|5236 682|5683|664|
##
##
|FO|R THE|YEAR ENDED 31|DECEMBER|2022||
|---|---|---|---|---|---|
||||Note|2022|2021|
|||||F||
|TURNOVER||||||
|Membership
Fees||||212,537|149,161|
|Use of Facilities||||1 862 5158|1 032 146|
|||||2,075,052|1,181,307|
|COST OF SALES||||||
|Direct Costs||||(1,624,263)|(1,539,865)|
|Allocation
from Restricted|Fund|in respect of||229,255|320,333|
|amortisation
of Capital Grants||||||
|||||~1395008|~1219532|
|GROSS REVENUE SURPLUS/(DEFICIT)||||680,044|(38,225)|
|GOVERNMENT
GRANTS|||||370,179|
|OTHER GRANTS|||||298,536|
|ADMINISTRATIVE
EXPENSES||||(854,815)|(721,456)|
|OPERATING (DEFICIT)||||(174,771)|(90,966)|
|INTEREST RECEIVABLE||||3,513|142|
|INTEREST PAYABLE|||21|~46 469|~34 557|
|DEFICIT FOR THE YEAR|||12|217727|125381|
##
##
|COM|PANY NO:|1000490|||
|---|---|---|---|---|
|||Note|2022|2021|
|FIXEDASSETS|||||
|Tangible Assets|||6,300,248|6,628,082|
|CURRENT ASSETS|||||
|Stock|||2,446|1,568|
|Debtors|||128,751|123,844|
|Cash at Bank and
in Hand|||552 087|619935|
||||683,284|745,347|
|CREDITORS: DUE WITHIN ONE YEAR|||||
|Bank Loan||10|72,000|72,000|
|Other Loan|||1,000|1,000|
|Trade Creditors|||63,090|53,483|
|Taxation 8 Social Security|||31,848|60,202|
|Accruals and Other Creditors|||131,717|240,479|
|Deferred
income||20|284 599|115447|
||||584,254|542,611|
|NET CURRENT ASSETS|||99,030|202,736|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||6,399,278|6,830,818|
|CREDITORS: DUE MORE THAN ONE YEAR||10|(1,076,316)|(1,147,154)|
|PROVISIONS FOR LIABILITIES||23|(86,280)||
|NET ASSETS|||5,236,682|5,683,664|
|THE FUNDS OF THE CHARITY|||||
|Restricted —Capital Grants||11|4,520,247|4,749,502|
|Unrestricted
—Income and Expenditure|Accounts|12|716,435|934,162|
|TOTAL CHARITY FUNDS||14|5236682|5683664|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||f|
|CASH FLOW FROM OPERATING||ACTIVITIES||99,783|39,135|
|CASH FLOWS FROM INVESTING||ACTIVITIES||||
|Interest income||||3,513|142|
|Purchase
oftangible
fixed assets||||(59,387)||
|Proceeds from disposal offixed||assets||5,550||
|CASH PROVIDED (USED IN)/BY||INVESTING ACTIVITIES||50 324|142|
|CASH FLOWS FROM FINANCING||ACTIVITIES||||
|Interest paid||||(46,469)|(34,557)|
|Repayment
of loan||||(70,838)|(37,096)|
|New loan||||||
|Repayment
of HP|||||~2805|
|CASH (USED BY)FINANCING|ACTIVITIES|||117307|74458|
|(Decrease) in cash and cash|equivalents||in the year|67848|35 181|
|Cash and cash equivalents
at the beginning|||ofthe year|619,935|655,116|
|TOTAL CASH AND CASH EQUIVALENTS|||AT THE END OF|||
|THE YEAR (Note 22)||||552 087|619935|
|RECONCILIATION
OF NET MOVEMENTS|||IN FUNDS TO NET|CASH FROM OPERATING||
|ACTIVITIES||||||
|||||2022|2021|
|||||E|E|
|Net movement
in funds||||(446,982)|(483,992)|
|Add back depreciation
charge||||387,221|476,578|
|Deduct interest income shown|in investing||activities|(3,513)|(142)|
|Add back interest payable||||46,469|34,557|
|Deduct depreciation
adjustment|||||(4,544)|
|Deduct profit on disposal||||(5,550)||
|(Increase)/decrease
in stock||||(878)|410|
|(Increase)
in debtors||||(4,907)|(19,051)|
|Increase
in creditors||||127923|35319|
|NET CASH GENERATED BYOPERATING ACTIVITIES||||99783|39 135|
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##
##
|RESOURCES EXPE|NDED: CH|AR|ITABLE ACTIVITIES|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E|E|
|Resources expended|on Charitable||Activities are analysed|||
|as follows:||||||
|Payroll Costs|(Note 6)|||1,319,501|1,251,750|
|Depreciation|(Note 8)|||387,221|476,578|
|External Advertising||||15,002|6,250|
|Light and Heat||||173,411|128,197|
|Repair and Maintenance||Costs||418,408|135,622|
|Insurance
claims||||(254,347)||
|Insurance||||76,666|58,125|
|Other Costs||||324,410|187,013|
|||||2460 272|2 243 535|
##
##
|Resources expended|on Governance|Costs are analysed|as follows:|||
|---|---|---|---|---|---|
|Audit Fee||||9,450|9,000|
|Professional|Fees|||9356|8786|
|||||18806|17786|
##
##
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|A~It
I||||||||
|Depreciation||||||387,221|476,578|
|Profit on disposal|of gym|equipment||||(5,550)||
|Auditors'
Remuneration||||||||
|—Audit Fees||||||9,450|9,000|
|—Accounting
and|Financial||Reporting|||4,850|4,650|
|Repair and Maintenance||costs||||418,408|135,622|
|insurance
claims||||||(254,347)||
|Emoluments
of Chief Executive||||||||
|Remuneration||||||87,433|83,914|
|Pension
Contributions||||||8 961|8649|
|A~II
Attt||||||||
|Release of capital grants||||||229 255|320333|
|PAYROLL COSTS||||||||
|The total payroll costs are analysed|||as|follows:||||
|Salaries||||||1,129,411|1,087,302|
|Employer's
National
Insurance||||||74,850|65,737|
|Pension Costs||||||30,872|37,067|
|Self-Employed
Contractor||||||84,368|61,644|
|||||||1,319,501|1,251,750|
|The average
number|of employees|||during|the year|||
|||||||Number|Number|
|||||||95|107|
|Operational||||||17|17|
|Management
and administration||||||112|124|
##
##
##
##
|FOR THE|YEAR ENDED 3|1 DECEIIBER|2022||
|---|---|---|---|---|
|8.
TANGIBLE FIXEDASSETS|||||
||Freehold|Freehold|Furniture
8|Total|
||Land|Buildings|Equipment||
|Cost|||||
|Balance 1/1/2022|619,167|13,106,241|1,386,330|15,111,738|
|Additions|||59,387|59,387|
|Disposals|||(668,288)|(668,288)|
|Balance 31/12/2022|619167|13106241|777429|14 502 837|
|~0|||||
|Balance 1/1/2022||7,164,670|1,318,986|8,483,656|
|Charge for Year||347,017|40,204|387,221|
|Disposals|||~668 228|{6668228|
|Balance 31/12/2022||7511687|690902|8 202 589|
|Net Book Value|||||
|At 31/12/2022|619167|5594554|86527|6 300248|
|At 31/12/2021|619167|5 941 571|67 344|6 628 082|
##
##
##
|||||
|---|---|---|---|
|DEBTORS||2022|2021|
|Trade Debtors||46,715|17,053|
|Prepayments|and accrued income|76,286|71,331|
|Redbridge
Sports Centre Social Club||5750|35460|
|||128751|123844|
|||2022|2021|
|CREDITORS:|DUE MORE THAN ONE YEAR|||
|Bank Loan||1 076316|1 147 154|
##
##
|||||2022|202'I|
|---|---|---|---|---|---|
|Falling|due|within one year:||72,000|72,000|
|Falling|due|between|one and two years:|72,000|72,000|
|Falling|due|between|two and five years|1,004,316|1,075,154|
##
##
##
||Funds received
in respect offixed asset and|other exp|enditure:||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Balance at beginning
ofyear|||4,749,502||5,069,835|
||Additions
during the year||||||
||Amortised
to Income and Expenditure|Account|in respect||||
||ofdepreciation
and other expenditure|during the year||~229 255||~320 333|
||Balance at end ofyear|||4|520 247|4 749502|
||Included
within other creditors on the balance
off29,500(2021:f26,986).|sheet are "funds held"||for|restricted|purposes|
||||||2022|2021|
|12.|UNRESTRICTED FUND —INCOME AND EXPENDITURE ACCOUNT||||||
||Balance at Beginning
ofyear||||934,162|1,059,543|
||(Deficit) for the year|||~217727||~125 361|
||Balance at End ofYear||||716435|934162|
##
##
##
|ANALYSIS||OF NET ASS|ETS BETWEE|N FUNDS|||
|---|---|---|---|---|---|---|
|||||Tangible|Other Net|Total|
|||||Fixed Assets|(Liabilities)l||
||||||Assets||
|||||||E|
|Restricted|Fund - Grants|||4,520,247||4,520,247|
|Unrestricted||Fund-Income|and||||
|Expenditure||Account||1 780 001|~1063566|716435|
|||||6 300248|~1063566|5236 682|
##
|MOVEMEN|T ON TOTAL|FUNDS AND RESERVES|||
|---|---|---|---|---|
||||2022|2021|
||||E|E|
|Income and Expenditure||(Deficit)|(217,727)|(125,381)|
|Allocation
from Restricted||Fund to Income and|||
|Expenditure|Account (Note 11)||~229 255|~320 333|
|Movement|for the year||(446,982)|(445,714)|
|Total Funds|and Reserves at beginning||||
|ofyear|||5683 664|6 129378|
|Total Funds|and Reserves at end ofyear||5 236 682|5683664|
##
#
##
##
##
##
##
##
##
##
##
|DEFER|RED INCOME||||||
|---|---|---|---|---|---|---|
|Deferred|income comprises|sales|invoices raised|in advance|in relation|to long term|
|bookings|and membership|relating|to 2023.||||
|Balance|as at 1/01/2022|||||115447|
|Amount|released to income|earned|from charitable|activities||(115,447)|
|Amount|deferred
in year|||||284 599|
|Balance|as at 31/12/2022|||||284 599|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|On|Bank|Loans||46,469|34,237|
|On|Hire|Purchase|Contracts||320|
|||||46,469|34,557|
##
|quival|ents|are|in res|pect ofthese Balance Sheet|amounts:||
|---|---|---|---|---|---|---|
||||||2022|2021|
|Total|cash|and|cash|equivalents|552,087|619,935|
##
|||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Provision|as|at|1|January|2022|and|31|December|2022|86,470||
##
##
##
##
##
##
##
##
##
|||REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|REDBRIDGE SPORTS CENTRE|TRUST LIMITED|TRUST LIMITED|TRUST LIMITED|TRUST LIMITED|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||FINANCIAL||||BACKGROUND|||||SUMMARY||||||||
|Ca
ital Ex enditure|||||||||||||||||||||
|Buildings||||||||||||||||||||f|
|Original Cost||||||||||||||||||||106,697|
|Phase 2||||||||||||||||||||40,000|
|Phase 3||||||||||||||||||||28,093|
|Phase 4||||||||||||||||||||70,000|
|Phase 5||||||||||||||||||||45,597|
|Phase 6||||||||||||||||||||665,769|
|Phase 7|||||||||||||||||||2,131,072||
|Phase 8|||||||||||||||||||1,978,121||
|Phase 9||||||||||||||||||||435,976|
|Phase 10|||||||||||||||||||7,604,916||
|Other|||||||||||||||||||||
|Furniture
8 Equipment||||||||||||||||||||777,429|
|Freehold
Land||||||||||||||||||||619167|
|Total|||||||||||||||||||814|502 837|
|Method of Fundin|||||||||||||||||||||
|The above capital costs have|||been|met from||the||followi||ng|sources:||||||||||
|1972 —2022 inclusive|||||||||||||||||||||
|Deferred
—for future release to Revenue||||||Account||||||||4,520,247|||||||
|Released to Revenue Account||||||||||||||5620||089|||||
|Total Received|||||||||||||||||||10,140,336||
|Loans at 31/12/2013|||||||||||||||||||||
|J.Petchey||||||||||||||||||||1,000|
|Barclays Bank|Plc|||||||||||||||||||775,106|
|||||||||||||||||||||287,460|
|Own Generated
Funds|||||||||||||||||||||
|Income and Expenditure|||Account||||||||||||716,435||||||
|Depreciation||||||||||||||8,202,589|||||||
|Transfer from Capital Grants||||||||||||||~5620 089|||||3|298 935|
||||||||||||||||||||514|502 837|
|All income
generated
by the Centre|||||has|been||ploughed|||back 100% towards||||meeting||running||costs and||
|providing
new or improved||facilities as set||||out||in this||Report.||No|subsidy|towards||running||costs has been|||
|received at any stage since||the Centre|||opened||in|1972.|||||||||||||
|Capital
and other|grants|(including
Gift-Aid|||||where||relevant)|||have|been received|||from|the|following||sources as at|
|31/12/2022:|||||||||||||||||||||
|Olympic
Delivery Authority|||||||||||||||||||3,339,391||
|National
Lottery (inc Sport England)|||||||||||||||||||2,934,313||
|Lawn Tennis Association||||||||||||||||||||742,500|
|London
Borough of|Redbridge||(re|land|transaction)|||||||||||||||510,000|
|Athenaeum
Lawn Tennis Club||||||||||||||||||||500,000|
|Badminton
England||||||||||||||||||||300,000|
|Sports Council||||||||||||||||||||258,318|
|London
Marathon||||||||||||||||||||250,000|
|All England
Netball||||||||||||||||||||200,000|
|Football Foundation||||||||||||||||||||200,000|
|Foundation
For Sports 8 Arts||||||||||||||||||||140,000|
|Terry Brown||||||||||||||||||||129,205|
|Paul Clarke||||||||||||||||||||113,895|
|Petchey Properties|Plc and|Jack Petchey Foundation||||||||||||||||||112,210|
|England
Hockey||||||||||||||||||||98,000|
|Essex County Tennis||||||||||||||||||||80,000|
|Biffa||||||||||||||||||||44,000|
|Lafarge||||||||||||||||||||37,125|
|Football Association||||||||||||||||||||35,000|
|Grange
Farm Trust||||||||||||||||||||20,000|
|Others||||||||||||||||||||96379|
|Total Capital Grants Received|||||||||||||||||||610|140 336|