| PAGE | |||
|---|---|---|---|
| Company Information |
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| Report ofthe | Directors | ||
| Independent | Auditor's | Report | |
| Statement of | Financial | Activities | 10 |
| Balance Sheet | |||
| Statement of | Cash Flow | 12 | |
| Notes to the | Financial | Statements | 13 |
| Trading Account | 22 |
| FORTHE YEAR ENDED 31STMARCH 2021 | FORTHE YEAR ENDED 31STMARCH 2021 | FORTHE YEAR ENDED 31STMARCH 2021 | |||
|---|---|---|---|---|---|
| DIRECTORS | J.A. R. McIntosh (Chairman) |
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| Earl ofAyiesford | |||||
| M. A. Shaw | |||||
| C.T.West | |||||
| R.S.Wildman | |||||
| D. R. Moorcroft (Appointed | on 1stJune | 2020) | |||
| SECRETARY | P. N. Breed | ||||
| SENIOR MANAGEMENT | TEAM | P. N. Breed (Chief Executive Officer) | |||
| L. Bowell (HR Manager) | |||||
| K. A. Healion (Operations | Manager) | ||||
| W. A. Jackson (Community | Development | Manager) | |||
| C. Panter (Lifestyles | Manager) | ||||
| A. Surey (Marketing | Manager) | ||||
| S.Wiles (Operations | Director) | ||||
| S.Terblans (Finance |
Manager) | ||||
| REGISTERED OFFICE | Xcel Leisure Centre, | ||||
| Mitchell Avenue, | |||||
| Canley, | |||||
| Coventry, | |||||
| CV4 8DY. | |||||
| REGISTERED COMPANY | NUMBER | 02239584 (England | and Wales) | ||
| REGISTERED CHARITY | NUMBER | 700409 | |||
| AUDITORS | Dafferns LLP, |
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| Chartered Accountants, |
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| One Eastwood, Harry Weston Road |
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| Binley Business Park | |||||
| Binley | |||||
| Coventry | |||||
| CV3 2UB. | |||||
| BANKERS | NatWest Bank Pic., |
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| Coventry City Office, |
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| 24 Broadgate, | |||||
| Coventry, | |||||
| CV1 1ZZ. | |||||
| SOLICITORS | Brindley Twist Tafft 5James LLP | ||||
| Lowick Gate | |||||
| Siskin Drive | |||||
| Coventry | |||||
| CV3 4FJ |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| Notes | funds | funds | 2021 | 2020 | |||
| E | |||||||
| Income and endowments | from: | ||||||
| Donations and legacies |
2 | 2,479,545 | 111,646 | 2,591,191 | 262,121 | ||
| Charitable activities: |
|||||||
| Income from sports | and leisure activities | 3 | 2,367,749 | 2,367„749 | 5,644,440 | ||
| Other trading activities |
4 | 129,954 | 129,954 | 218,796 | |||
| Investments | 5 | 47,690 | 47,690 | 44,851 | |||
| Total income and endowments | 5,024,938 | 111,646 | 5,136,584 | 6,170,208 | |||
| Expenditure on: |
|||||||
| Raising funds | |||||||
| Charitable activities |
|||||||
| Cost ofoperation of |
sports | and | |||||
| leisure activities | 5,172,360 | 58,097 | 5,230,457 | 6,595,472 | |||
| Total expenditure | 6 | 5,172,360 | 58,097 | 5,230,457 | 6,595,472 | ||
| Gain/(loss) on revaluation |
ofinvestments | 237,089 | 237,089 | (158,785) | |||
| Net income/(expenditure) | 89,667 | 53,549 | 143,216 | (584,049) | |||
| Fund balances brought |
forward at | ||||||
| 1st April 2020 | 1,412,154 | 48,981 | 1,461,135 | 2,045,184 | |||
| Fund balances carried forward | at | ||||||
| 31st March 2021 | 18 | 1,501,821 | 102,530 | 1,604,351 | 1,461,135 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| FIXEDASSETS: | |||||||
| Tangible assets | 10 | 57,400 | 85,714 | ||||
| Investments | 11 | 1,505,144 | 1,220,440 | ||||
| 1,562,544 | 1,306,154 | ||||||
| CURRENT ASSETS: | |||||||
| Stocks | 6,658 | 8,896 | |||||
| Debtors | 12 | 291,489 | 410,000 | ||||
| Cash at bank and | in hand | 591,578 | 477,058 | ||||
| 889,725 | 895,954 | ||||||
| CREDITORS: amounts | falling due | ||||||
| within one year | 13 | 847,918 | 740,973 | ||||
| NET CURRENT ASSETS | 41,807 | 154,981 | |||||
| NETASSETS | 1,604,351 | 1,461,135 | |||||
| FUNDS: | |||||||
| Unrestricted funds: |
|||||||
| Designated fixed asset |
funds | 57,400 | 85,714 | ||||
| General funds | 1,444,421 | 1,326,440 | |||||
| 1,501,821 | 1,412,154 | ||||||
| Restricted funds | 17 | 102,530 | 48,981 | ||||
| 1,604,351 | 1,461,135 |
| FORTHE YEAR E | NDED 31STMARCH 202 | 1 | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| E | E | |||
| Cash flows from operating | activities | |||
| Net movement in funds for the year |
143,216 | (584,049) | ||
| Depreciation | 28,314 | 29,836 | ||
| Interest received | (75) | (1,263) | ||
| Dividends from investments |
(47,615) | (43,588) | ||
| Revaluation (gains) / losses from investments |
(237,089) | 158,785 | ||
| Decrease/(increase) in stocks |
2,238 | 5,054 | ||
| Decrease/(increase) in debtors |
118,511 | 213,636 | ||
| Increase/(decrease) in creditors |
106,945 | 151,784 | ||
| Net cash flows from operating | activities | 114,445 | (69,805) | |
| Cash flows from investing | activities | |||
| Interest received | 75 | 1,263 | ||
| Dividends received |
47,615 | 43,588 | ||
| Payments to acquire fixed assets |
(47,615) | (88,140) | ||
| Net cash flow from investing | activities | 75 | (43,289) | |
| Net increase in cash and cash equivalents | 114,520 | (113,094) | ||
| Cash and cash equivalents at |
l~ April 2020 | 477,058 | 590,152 | |
| Cash and cash equivalents at |
31~ March 2021 | 591,578 | 477,058 | |
| Cash and cash equivalents | consists of: | f | f | |
| Cash at bank and in hand | 591,578 | 477,058 | ||
| Cash and cash equivalents at |
31"March 2021 | 591,578 | 477,058 | |
| Analysis ofchanges in net |
debt | |||
| 2020 | Cashflows | 2021f | ||
| Cash and cash equivalents | 477,058 | 114,520 | 591,578 | |
| Total net debt | 477,058 | 114,520 | 591,578 |
| INCOME | FROM INVESTMENTS: | ||
|---|---|---|---|
| Investment | income | 47,615 | 43,588 |
| Bank interest | 75 | 1,263 | |
| 47,690 | 44,851 |
| ANALYSIS OF EXPENDITURE: | ANALYSIS OF EXPENDITURE: | |||||
|---|---|---|---|---|---|---|
| Restricted | Direct | Support | Total | Total | ||
| funds E |
costs | costsf | 2021 | 2020 f |
||
| Raising funds | ||||||
| Charitable activities |
||||||
| Cost ofoperation ofsports and | ||||||
| leisure facilities | 58,097 | 4,123,966 | 1,048,394 | 5,230,457 | 6,595,472 | |
| Total expenditure | 58,097 | 4,123,966 | 1,048,394 | 5,230,457 | 6,595,472 | |
| Suppo* | Total | |||||
| costs | 2020 f |
|||||
| Support costs is analysed | as follows: | |||||
| Salaries | 779,516 | 709,302 | ||||
| Other staff costs | 4,931 | 26,211 | ||||
| Printing and stationery |
59,034 | 101,205 | ||||
| Telephone and postage |
64,653 | 83,106 | ||||
| Travel and subsistence | 5,433 | 8,217 | ||||
| Advertising | 6,317 | 28,539 | ||||
| Professional charges - legal |
58,890 | 153,045 | ||||
| Bank charges | 15,074 | 26,774 | ||||
| Sundry expenses | 43,739 | 81,568 | ||||
| Other professional fees - |
financial | 10,807 | 21,633 | |||
| 1,048,394 | 1,239,600 |
| OTHER | DISCLOSURES: | DISCLOSURES: | 2021f | 2020 |
|---|---|---|---|---|
| Net income is stated | after charging: | |||
| Depreciation | 28,314 | 29,836 | ||
| Auditors' | remuneration | - audit fees | 11,000 | 9,475 |
| Trustees | expenses | |||
| Pension | costs | 52,702 | 63,529 |
| EMOLUMENTS OF | EMPLOYEES: | 2021 f |
2020 f |
|
|---|---|---|---|---|
| Staffcosts: | ||||
| Wages and salaries | 3,287,665 | 3,452,613 | ||
| Social security costs | 153,547 | 172,648 | ||
| Pension costs | 52,702 | 63,529 | ||
| 3,493,914 | 3,688,790 | |||
| The average monthly |
number ofemployees | during the year was as follows: | Number | Number |
| Sports and leisure activities | 273 | 334 | ||
| Administration | 21 | 21 | ||
| 294 | 355 |
| TANGIBLE FIXEDASSETS: | Alterations | office | Fixtures | ||
|---|---|---|---|---|---|
| to leasehold | and sports | and | Motor | ||
| premises f |
equipment f |
fittingsf | vehiclesf | Totalf | |
| COST: | |||||
| At 1st April 2020 | 40,476 | 381,471 | 153,427 | 1,500 | 576,874 |
| Additions | |||||
| At 31st March 2021 | 40,476 | 381,471 | 153,427 | 1,500 | 5?6,874 |
| DEPRECIATION: | |||||
| At 1st April 2020 | 40,476 | 341,575 | 107,609 | 1,500 | 491,160 |
| Charge for year | 15,349 | 12,965 | 28,314 | ||
| At 31st March 2021 | 40,476 | 356,924 | 120,574 | 1,500 | 519,474 |
| NET BOOK VALUE: | |||||
| At 31st March 2021 | 24,547 | 32,853 | 57,400 | ||
| At 31st March 2020 | 39,896 | 45,818 | 85,714 |
| INVESTMENTS: | INVESTMENTS: | ||
|---|---|---|---|
| Listed investments | 2021f | 2020 f |
|
| Valuation as | at 1st April 2020 | 1,220,440 | 1,335,636 |
| Additions | |||
| Accrued interest | 780 | 1,780 | |
| Dividends | 46,835 | 41,809 | |
| Revaluation adjustment |
237,089 | (158,785) | |
| Valuation at 31stMarch 2021 | 1,505,144 | 1,220,440 | |
| Investments | at fair value comprise: | ||
| Fixed interest | 612,072 | 497,956 | |
| Equities | 535,035 | 320,986 | |
| Alternatives | 145,250 | ||
| Property | 131,062 | 234,374 | |
| Interest | 780 | 1,780 | |
| Cash equivalent | 80,945 | 165,344 | |
| 1,505,144 | 1,220,440 |
| 12. | DEBTORS: Amounts | falling due within one year: | 2021 f. |
2020 f |
|
| Trade debtors | 73,705 | 318,657 | |||
| Prepayments and accrued |
income | 216,263 | 70,856 | ||
| Other debtors | 1,521 | 20,487 | |||
| 291,489 | 410,000 | ||||
| 13. | CREDITORS: Amounts | falling due within one year: | |||
| Trade creditors | 232,689 | 402,471 | |||
| Social security and other taxes | 67,684 | 85,886 | |||
| Accruals and deferred | income | 547,545 | 252,616 | ||
| 847,918 | 740,973 | ||||
| 14. | DEFERRED INCOME: | Under | |||
| 1year f. |
Totalf | ||||
| At 1 April 2020 | 50,089 | 50,089 | |||
| Additions during the year |
349,000 | 383,873 | |||
| Amounts released to income |
(50,089) | (50,089) | |||
| At 31 March 2021 | |||||
| 349,000 | 383,873 |
py Lessee: |
p | g |
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|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Land and | Land and | ||||
| buildingsf | Otherf | buildings | Other | ||
| Within one year | 125,010 | 92,749 | 125,010 | 55,663 | |
| Between one and five years | 500,040 | 223,530 | 500,040 | 154,579 | |
| In more than five years | 4,354,523 | 4,404,523 | |||
| 4,979,573 | 316,279 | 5,029,573 | 210,242 |
Lessor: |
||||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Land and | Land and | |||||
| buildingsf | Other | buildings | Other | |||
| Within one year | 75,000 | 75,000 | ||||
| Between one and five years | 300,000 | 300,000 | ||||
| In more than five years | 243,750 | 318,750 | ||||
| 618,750 | 693,750 |
| RESTRICTED FUNDS: | Balance 1.4.20 f |
Incoming resources F |
Outgoing resources E |
Balance 31.3.21 f |
|---|---|---|---|---|
| Engage Rugby | 48,981 | 111,646 | (58,097) | 102,530 |
| Engage Rugby is a project to promote | rugby and its values. | |||
| ANALYSIS OF NET ASSETS BETWEEN FUNDS: | Unrestricted | Restricted | Total | |
| funds | funds | fundsf | ||
| Fund balances at 31st March 2021 are | represented by: |
|||
| Tangible assets | 57,400 | 57,400 | ||
| Investments | 1,505,144 | 1,505,144 | ||
| Net current assets | (60,723) | 102,530 | 41,807 | |
| Total net assets | 1,501,821 | 102,530 | 1,604,351 |
| COVENTRY SPORTS FOUNDATION | COVENTRY SPORTS FOUNDATION | |||||
|---|---|---|---|---|---|---|
| A COMPANY LIMITED BYGUARANTEE | ||||||
| TRADING ACCOUNT FOR THE YEAR ENDED | 31STMARCH | 2021 | ||||
| Notes 2021 |
E | 2020 | f | |||
| Facility income | 2,271,621 | 5,272,588 | ||||
| Loss on bar and catering | (A) | (115,707) | (143,197) | |||
| Profit on vending | (B) | 6,439 | 11,492 | |||
| Rent | 119,676 | 123,893 | ||||
| Miscellaneous income |
(C) | 11,389 | 98,623 | |||
| Management fees |
39 | 13,200 | ||||
| Service fees | 39,375 | 94,500 | ||||
| GROSS PROFIT | 2,332,832 | 5,471,099 | ||||
| Grants received | 2,112,879 | |||||
| Restricted grants |
received | 111,646 | 92,367 | |||
| Investment income |
47,690 | 44,851 | ||||
| 4,605,047 | 5,608,317 | |||||
| Activity costs | ||||||
| Salaries and payroll costs | 2,186,584 | 2,445,445 | ||||
| Staff training and |
uniforms | 9,694 | 26,783 | |||
| Sports equipment | 747 | 127,259 | ||||
| Sports equipment | rental | 28,192 | 15,424 | |||
| Repairs and maintenance | 7,921 | 20,315 | ||||
| Travel and trips | 9,794 | 9,874 | ||||
| Other activity costs | 38,293 | 155,452 | ||||
| 2,281,225 | 2,800,552 | |||||
| Premises costs | ||||||
| Maintenance wages |
356,381 | 319,305 | ||||
| Light and heat | 676,359 | 681,367 | ||||
| Rent and rates | 65,346 | 297,773 | ||||
| Insurance | 88,669 | 109,450 | ||||
| Repairs and maintenance | 145,563 | 187,291 | ||||
| Cleaning | 44,440 | 76,919 | ||||
| Licences | 69,055 | 59,225 | ||||
| 1,445,813 | 1,731,330 | |||||
| Financial expenses | ||||||
| Bank and loan interest | 855 | |||||
| Irrecoverable VAT |
177,889 | 211,232 | ||||
| 178I744 | 211,232 | |||||
| Support costs | ||||||
| Salaries | 779,516 | 709,302 | ||||
| Other staff costs | 4,931 | 26,211 | ||||
| Printing and stationery |
59,034 | 101,205 | ||||
| Telephone and postage |
64,653 | 83,106 | ||||
| Travel and subsistence | 5,433 | 8,217 | ||||
| Advertising | 6,317 | 28,539 | ||||
| Professional charges - legal |
58,890 | 153,045 | ||||
| Bank charges | 15,074 | 26,774 | ||||
| Sundry expenses | 43,737 | 81,568 | ||||
| Professional charges - financial |
10,807 | 21,633 | ||||
| 1,048,392 | 1,239,600 | |||||
| Donations | (349,127) | (374,397) | ||||
| Coventry City Council |
170,426 | 94,578 | ||||
| Other | 196,240 | 75,176 | ||||
| 366,666 | 169,754 | |||||
| (17,539) | 204,643 | |||||
| Depreciation | (28,315) | (29,836) | ||||
| The Wave | (25,000) | (100,000) | ||||
| Restricted expenses | (58,097) | (90,785) | ||||
| DEFICIT FORTHE YEAR | (93,873) | (425,264) |
| (A) | Loss on Barand | Loss on Barand | Catering | 2021 | 2020 | ||
|---|---|---|---|---|---|---|---|
| Bar | |||||||
| Receipts | 32,036 | 139,137 | |||||
| Purchases | 19,757 | 70,653 | |||||
| Bar consumables | 15,570 | 19,322 | |||||
| COFA profit /loss | share | 99 | |||||
| 35,426 | 89,975 | ||||||
| BAR PROFIT BEFORE SALARIES | |||||||
| AND MANAGEMENT | CHARGES | (3,390) | 49,162 | ||||
| Catering | |||||||
| Receipts | 15,043 | 91,313 | |||||
| Purchases | 5,372 | 53,156 | |||||
| Cafe consumables | 2,869 | 15,777 | |||||
| 8,241 | 68,933 | ||||||
| CATERING PROFIT | BEFORE SALARIES | ||||||
| AND MANAGEMENT | CHARGES | 6,802 | 22,380 | ||||
| Salaries and payroll | costs | 119,119 | 214,739 | ||||
| (115,707) | (143,197) | ||||||
| (B) | Profit on vending | ||||||
| Receipts | 6,138 | 21,449 | |||||
| Purchases | 2,085 | 18,490 | |||||
| 4,053 | 2,959 | ||||||
| Commission | 2,386 | 8,533 | |||||
| 6,439 | 11,492 | ||||||
| (C) | Miscellaneous | income | |||||
| Leisure training | 1,111 | 3,720 | |||||
| Room hire | 10,248 | 82,885 | |||||
| Car boot sale | 11,162 | ||||||
| Other | 30 | 856 | |||||
| 11,389 | 98,623 |