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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 522301

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2021

for

Southwell Leisure Centre

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

Southwell Leisure Centre

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Report of the Trustees 1 to4
Report of the Independent Auditors 5 to6
Statement of Financial Activities 7
Balance Sheet 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18 to 19

Southwell Leisure Centre

Report of the Trustees for the Year Ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the trust is to establish and maintain sporting, recreational and community facilities in particular for (but not limited to) the inhabitants of the Southwell and district, with the object of improving the conditions of life for the inhabitants.

Significant activities

The Trustees seek to achieve the charity's objects through the operation of the Southwell Leisure Centre. This objective has remained unchanged throughout the year ended 31 March 2021.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the Trusts aims and objectives and in planning future activities.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The significant reduction across both income and attendance was in view of the Covid 19 Pandemic. The Trustees will be aware that the leisure centre closed for approximately 16.5 weeks during the first lockdown from April 2020. This was followed by a further 4 week closure in November 2020. A further third lockdown closed the leisure centre for 13 weeks in 2021.

Prices charged to users of the Centre continue to provide low cost access to sporting, recreational and community facilities for the general public.

The Trustees acknowledge the hard work done by the General Manager and staff in continuing to achieve the high quality of services provided especially given the additional pressures of a global pandemic.

FINANCIAL REVIEW

Financial position

For the year ended 31 March 2021, incoming resources decreased by £783,785 to £606,626 (56.4%). Of this, £236,192 related to government grant income. The charity reported a deficit of £661,477 during the year. This financial year, the charity was affected by the national lockdown restrictions imposed during the COVID-19 pandemic, resulting in multiple temporary closedowns of the leisure centre.

The balance of unrestricted funds carried forward at 31 March 2021 was £74,193 (2020 - £572,870).

Reserves policy

Southwell Leisure Centre Trust is required to ensure that free monies are maintained to meet any reasonably foreseeable contingency. Such funds are classified as a 'strategic reserve'. These reserves have been directed to support the business during the periods of closure due to Government legislation to cease and restrict operations, to combat the Covid 19 pandemic.

The Trustees will appropriately consider the minimisation of any risk associated with a potential diminution of any of the funding streams that may prevent its ability to be managed to continue to provide best value service and achievement of the Trust's objectives.

Additionally, the Trust holds reserves to fund a rolling 5-year programme of renewal, replacement and repairs, to ensure facilities are maintained to high standards, and updated as sport, leisure and wellbeing trends evolve. The amount held from time to time is considered with the backdrop of significant annual variations of such expenditure.

Page 1

Southwell Leisure Centre

Report of the Trustees for the Year Ended 31 March 2021

FINANCIAL REVIEW

Going concern

The accounts are prepared on the going concern basis and reflect joint working with Newark and Sherwood District Council. In the year the Trust has received financial support from Newark and Sherwood District Council of £133,370 (2020: £133,370). Such support has been given since the Trust's inception, and the Trustees have no reason to believe this will not continue. Should there be any future material reduction to this support, the Trustees would be required to undertake a fundamental review of the Trust's finances and operations.

Covid 19 pandemic

The activities of the Leisure Centre have been severely adversely impacted by prolonged closure and disruption, due to Government legislation to cease and restrict operations, to combat the Covid 19 pandemic. There has been a consequent major reduction to income. Costs have been reduced to a minimum; however there has been an unavoidable significant erosion of cash balances. Such re-opening that has been permitted has been of a limited nature that continues to constrain income and requires a level of cost outlay to satisfy health and safety standards.

The Trustees have secured a financial facility by means of a letter of comfort and guarantee from Newark and Sherwood District Council. With continuing national uncertainties and a decline in customer/member confidence, the timing of a resumption of income to previous levels cannot be assessed. It is likely that the financial continuance of the Trust may be dependent on additional financial support from Newark and Sherwood District Council.

Funds in deficit

No funds were in deficit at the balance sheet date.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The trust is administered in accordance with the Scheme of Administration established 24th October 1974 as amended by the Charity Commission on 29th December 1983.

Recruitment and appointment of new trustees

In accordance with the Scheme of Administration the Trustees shall consist of nine persons, six of whom shall be appointed by Newark & Sherwood District Council and the three by Southwell Town Council. Each appointment is made for a term of one year at a meeting convened in accordance with the ordinary practice of the appointing council. The person appointed need not be a member of the appointing council. A list of trustees and officer of the Trust who were in post when this report and account were approved is shown below.

Organisational structure

Southwell Leisure Centre is governed by its Trustees board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of Southwell Leisure Centre Trust and for ensuring that the charity satisfies its legal and contractual obligations.

The Trustees have delegated the day to day management of the centre to the General Manager in consultation with the chairman and treasurer based on targets set by them for the performance of the centre which are regularly reviewed and amended as appropriate.

Induction and training of new trustees

Newly appointed Trustees are provided with a comprehensive induction to Southwell Leisure Centre through the provision of training courses and mentoring by established Trustees.

Key management remuneration

The Trustees consider the role and responsibilities of key management personnel and review the remuneration package in line with similar entities. Annual appraisals on key management personnel are undertaken based on the individual's performance of their duties and fulfilment of the objectives of the charity in the period.

The charity operates the same pay scale as Newark & District Sherwood Council.

Related parties

Newark & Sherwood District Council provides funding of support services to the Trust.

Risk management

The Trustees have adopted financial regulations and controls which are monitored through the internal audit section of Newark & Sherwood District Council. In addition the Trustees have identifies the major risks, principally business interruption, which require insurance and taken appropriate steps to obtain suitable cover which is the subject of regular review.

Page 2

Southwell Leisure Centre

Report of the Trustees for the Year Ended 31 March 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 522301

Principal address

Southwell Leisure Centre Nottingham Road Southwell Nottinghamshire NG25 0LG

Trustees

Representing Newark & Sherwood District Council

B Ashworth P Handley (Resigned September 2021) P Rainbow T Wendels R Blaney B Laughton (Appointed May 2020) D Martin

Representing Southwell Town Council

P Harris (Appointed May 2020) S Perry (Resigned May 2021) J Lightwood (Appointed May 2021) P Scorer (Appointed May 2021)

Treasurer - T P Geraghty

Auditors

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

Accountant

Tom Geraghty & Associates Chartered Accountants and Business Advisors 38 North Gate Newark Nottingham's NG24 1EZ

Financial, legal and treasury management advice

Newark & Sherwood District Council Castle House Great North Road Newark NG24 1BY

Management

General Manager - Andrew Nelson Assistant Manager - William Davison Operations Managers - John Wood - Kimberley Priestley - Robert Edlin - Finley Fielder

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

Page 3

Southwell Leisure Centre

Report of the Trustees

for the Year Ended 31 March 2021

ACKNOWLEDGEMENT

The Trustees acknowledge the support given (both financial and administrative) by members and officers of Newark & Sherwood District Council.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 29 November 2021 and signed on its behalf by:

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........................................................................
R Blaney - Trustee
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Page 4

Report of the Independent Auditors to the Trustees of Southwell Leisure Centre

Opinion

We have audited the financial statements of Southwell Leisure Centre (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Emphasis of matter

We draw your attention to note 20 in the notes to the financial statements in respect of post balance sheet events, where there is the intention for the assets and liabilities of the Trust to be transferred to a CIO.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 5

Report of the Independent Auditors to the Trustees of Southwell Leisure Centre

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

J P Sewell BA (Hons) FCA CTA (Senior Statutory Auditor) for and on behalf of Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

7 December 2021

Page 6

Southwell Leisure Centre

Statement of Financial Activities for the Year Ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Leisure centre
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Leisure centre
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
Restricted
fund
£
133,370
-
231,924
-
2,746
-
-
-
238,586
-		 2021
2020
Total
funds
£
Total
funds
£
133,370
133,370
231,924
1,235,763
2,746
18,166
-
2,691
238,586
421
606,626
-
(1,165)
-
1,106,468
162,800		 606,626
1,390,411
(1,165)
9,372
1,269,268
1,522,446
1,105,303
162,800		 1,268,103
1,531,818
(498,677)
(162,800)
572,870
3,097,600		 (661,477)
(141,407)
3,670,470
3,811,877
74,193
2,934,800		 3,008,993
3,670,470

The notes form part of these financial statements

Page 7

Southwell Leisure Centre

Balance Sheet 31 March 2021

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Stocks
13
Debtors
14
Investments
15
Cash at bank
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
Restricted
fund
£
£
21,831
2,934,800
7,017
-
90,837
-
23,748
-
21,597
-		 2021
Total
funds
2020
Total
funds
£
£
2,956,631
3,097,600
7,017
4,943
90,837
91,868
23,748
547,048
21,597
21,597
143,199
-
(90,837)
-		 143,199
665,456
(90,837)
(92,586)
52,362
-		 52,362
572,870
74,193
2,934,800		 3,008,993
3,670,470
74,193
2,934,800		 3,008,993
3,670,470
74,193
572,870
2,934,800
3,097,600
3,008,993
3,670,470

The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2021 and were signed on its behalf by:

............................................. R Blaney - Trustee

The notes form part of these financial statements

Page 8

Southwell Leisure Centre

Cash Flow Statement for the Year Ended 31 March 2021

Cash flows from operating activities
Notes
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of investment
Sale of investment
Interest received
Purchase of tangible fixed assets
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the end of
the reporting period
2		 2021
£
2020
£
(498,350)
403,242
(498,350)
403,242
-
523,300
-
(24,950)
(405,933)
-
2,691
-
(498,350)
(403,242)
-
-
21,597
21,597
21,597
21,597

The notes form part of these financial statements

Page 9

Southwell Leisure Centre

Notes to the Cash Flow Statement for the Year Ended 31 March 2021

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Increase in stocks
Decrease in debtors
Decrease in creditors
Net cash (used in)/provided by operations		 2021
£
2020
£
(661,477)
(141,407)
165,919
180,593
-
7,342
(2,074)
(1,020)
1,031
362,817
(1,749)
(4,731)
(498,350)
403,242

The notes form part of these financial statements

Page 10

Southwell Leisure Centre

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Investment income is included when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Expenditure relating to donated services and facilities is included on the same basis and at equivalent amounts as recognised within incoming resources.

Support costs are those costs which have not been directly allocated to an activity of the charity but nevertheless support those activities. These costs have been allocated to charitable activities.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.

Raising funds

The costs of generating funds consist of investment management, certain legal fees, purchases of sport equipment and vending machine purchases.

Governance costs

Governance costs are associated with the administrative arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with the charitable activity. These include audit fees, legal advice and preparation of the statutory accounts and costs of Trustee meetings. Included within this category are any costs associated with strategic as opposed to day to day management of the centre. These costs are shown within charitable activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings, installations & fittings - Straight line over 25 years Land - not provided Gym equipment & installation - Straight line over 4 years

All assets which have a cost equal to or greater than £5,000 are capitalised.

Donated assets are capitalised at their valuation on a full replacement cost basis on receipt and are revalued and depreciated as described above.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Page 11

continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds - The charity has a single capital fund representing the tangible fixed assets which are held on trust for the benefit of the charity. Realised and unrealised gains and losses on revaluation of these assets form part of the fund. Similarly, provisions for depreciation also form part of the fund.

Unrestricted funds - These are funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the charity.

Designated funds - The trustees have allocated funds to a strategic reserve. These funds are to cover any contingencies which may arise in the coming years.

Pension costs and other post-retirement benefits

The charity has adopted status as part of the local government pension scheme for its employees, which is administered by Nottingham's County Council. The scheme is operated on a defined benefit basis, as a multi employer scheme, the charity is unable to identify its share of the scheme assets and liabilities and therefore the charity is accounting for contributions to the scheme on a defined contributions basis with contributions being charged to the Statement of Financial Activities in the period for which they are incurred.

Donated goods and services

Donated services and facilities are included in incoming resources when the benefit to the charity is reasonably quantifiable and measurable. They are valued at the amount the charity would have been charged by Newark and Sherwood District Council.

Short term investments

Investments are not held with the intention to reinvest but are made short term as cash flow allows. The gross return is based on the local authority 7 day rate and all investments are currently with Newark & Sherwood District Council.

Government grants

Government grants are treated on an accruals basis. Grants in relation to furlough and COVID grants are recognised as part of grants in the SOFA

2. DONATIONS AND LEGACIES

3.

Donated services and facilities
OTHER TRADING ACTIVITIES
Vending machine sales
Equipment sales		 2021
£
133,370
2021
£
1,974
772
2,746		 2020
£
133,370
2020
£
13,595
4,571
18,166

4.

INVESTMENT INCOME

INVESTMENT INCOME
2021 2020
£ £
Investment income - 2,691

Page 12

continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Activo subscriptions
Leisure centre
Xperience
Leisure centre
Dryside
Leisure centre
Swimming lessons
Leisure centre
Wetside
Leisure centre
Outdoor
Leisure centre
6.
RAISING FUNDS
Other trading activities
Purchases
7.
CHARITABLE ACTIVITIES COSTS
Leisure centre
8.
SUPPORT COSTS
Donated
services
£
Leisure centre
133,370		 Direct
Costs
£
1,040,975
Other
£
60,996		 2021
£
112,106
72,723
14,724
5,896
20,147
6,328
231,924
2021
£
(1,165)
Support
costs (see
note 8)
£
228,293
Governance
costs
£
33,927		 2020
£
643,195
329,774
94,227
26,864
120,352
21,351
1,235,763
2020
£
9,372
Totals
£
1,269,268
Totals
£
228,293

Donated services and facilities

These are all donations by Newark & Sherwood District Council in accordance with Service Level Agreements. The values of these donated services are based on estimated open market values and are summarised as follows:

Active4Today management fee
Personnel and training
Financial services (accounting, payroll, creditors)
Information systems
Health & safety
Building services
Telephones
Southwell Trustees and Committee Section		 2021
£
80,850
11,690
9,800
18,680
6,850
2,810
1,420
1,270
133,370		 2020
£
80,850
11,690
9,800
18,680
6,850
2,810
1,420
1,270
133,370

Page 13

continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

9. AUDITORS' REMUNERATION

AUDITORS' REMUNERATION
2021 2020
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 4,850 5,000

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2021
£
472,569
20,032
123,915
616,516		 2020
£
556,268
23,274
105,261
684,803

The average monthly number of employees during the year was as follows:

2021 2020
Employees 60 76

No employees received emoluments in excess of £60,000.

During the year key management personnel were paid a total of £139,585 (2020: £146,497).

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Buildings,
installations
& fittings
£
4,070,000
-
4,070,000
1,302,400
162,800
1,465,200
2,604,800
2,767,600		 Land
£
330,000
-
330,000
-

-
330,000
330,000		 Gym
equipment
& installation
£
240,503
24,950
265,453
240,503
3,119
243,622
21,831
-		 Totals
£
4,640,503
24,950
4,665,453
1,542,903
165,919
1,708,822
2,956,631
3,097,600

Page 14

continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

13. STOCKS

Stocks
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
15.
CURRENT ASSET INVESTMENTS
Short term investments
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
17.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Strategic reserves
Restricted funds
Restricted funds
TOTAL FUNDS		 At 1.4.20
£
352,870
220,000		 2021
£
7,017
2021
£
90,837
2021
£
23,748
2021
£
90,837
90,837
Net
movement
in funds
£
(498,677)
-		 2020
£
4,943
2020
£
91,868
2020
£
547,048
2020
£
92,586
92,586
At
31.3.21
£
(145,807)
220,000
572,870
3,097,600		 (498,677)
(162,800)		 74,193
2,934,800
3,670,470 (661,477) 3,008,993

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continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued

for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
Resources
expended
Movement
in funds
£
£
£
606,626
(1,105,503)
(498,677)
-
(162,800)
(162,800)
606,626
(1,268,103)
(661,477)

Comparatives for movement in funds

Unrestricted funds
General fund
Strategic reserves
Restricted funds
Restricted funds
TOTAL FUNDS		 Net
movement
At
At 1.4.19
in funds
31.3.20
£
£
£
331,477
21,393
352,870
220,000
-
220,000
551,477
21,393
572,870
3,260,400
(162,800)
3,097,600
3,811,877
(141,407)
3,670,470

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
Resources
Movement
resources
£
expended
£
in funds
£
1,390,411
(1,369,018)
21,393
-
(162,800)
(162,800)
1,390,411
(1,531,818)
(141,407)

19. RELATED PARTY DISCLOSURES

The amount due from Newark and Sherwood District Council is £0 (2020: £0).

During the year, the charity was provided with donated services and facilities from Newark & Sherwood District Council in the sum of £133,370 (2020: £133,370) which all related to administrative support costs. The value of these donated services and facilities are based on estimated open market values.

Page 16

continued...

Southwell Leisure Centre

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

20. POST BALANCE SHEET EVENTS

In October 2021, Southwell Leisure Centre entered into a lease management arrangement with Active4Today Limited, whereby Active4Today Limited will be responsible for the operations of the charity.

Throughout the duration of the Agreement, the councils appointed Management Company (Current preferred operator Active4Today) shall provide (or shall procure the provision of) the following support to the Trust:

Throughout the duration of the Agreement, the councils appointed Management Company (Current preferred operator Active4Today) shall also provide the Trust with an annual budget of up to £10,000 to support the Trust with the following activities:

A Charitable Incorporated Organisation (CIO) was set up on 17 April 2020. The assets and liabilities of the Trust are to be transferred to a Charitable Incorporated Organisation (CIO), a proposed completion of date August 2022.

21. GOVERNMENT GRANTS

During the financial year the charity received government grants totalling £236,192.

Page 17

Southwell Leisure Centre

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donated services and facilities
Other trading activities
Vending machine sales
Equipment sales
Investment income
Investment income
Charitable activities
Activo subscriptions
Xperience
Dryside
Swimming lessons
Wetside
Outdoor
Other income
Other income
Government grants
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Charitable activities
Gross salaries & wages
Employers national insurance
Employers pension contribution
Training, freelance instructors & agency staff
Metered water charges
Electricity
Gas
Repairs & maintenance
Postage and stationery
Advertising
Sundries
Contracted services
Cleaning materials
Telephone
Insurance
Licences
Chemicals & consumables
Equipment costs
Bank and credit card charges
Carried forward		 2021
£
2020
£
133,370
133,370
1,974
13,595
772
4,571
2,746
18,166
-
2,691
112,106
643,195
72,723
329,774
14,724
94,227
5,896
26,864
20,147
120,352
6,328
21,351
231,924
1,235,763
2,394
421
236,192
-
238,586
421
606,626
1,390,411
(1,165)
9,372
472,569
556,268
20,032
23,274
123,915
105,261
16,765
68,958
14,836
18,297
41,648
67,262
32,588
34,039
59,672
103,834
2,794
5,449
6,100
7,690
340
946
22,181
32,046
4,274
6,425
13,473
13,966
25,280
28,500
3,411
5,481
3,434
5,502
10,729
18,797
327
1,221
874,368
1,103,216

This page does not form part of the statutory financial statements

Page 18

Southwell Leisure Centre

Detailed Statement of Financial Activities

for the Year Ended 31 March 2021

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
Charitable activities
Brought forward
Clothing & uniform
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
Support costs
Donated services
Donated services
Other
Irrecoverable VAT
Governance costs
Auditors' remuneration
Professional services
Accountancy
Total resources expended
Net expenditure		 2021
£
2020
£
874,368
1,103,216
688
4,323
165,919
180,593
-
7,342
1,040,975
1,295,474
133,370
133,370
60,996
72,857
4,850
5,000
27,077
13,545
2,000
2,200
33,927
20,745
1,268,103
1,531,818
(661,477)
(141,407)

This page does not form part of the statutory financial statements

Page 19