||||PAGE|
|---|---|---|---|
|Company
Information||||
|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|
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|||FORTHE YEAR ENDED 31STMARCH 2021|FORTHE YEAR ENDED 31STMARCH 2021|FORTHE YEAR ENDED 31STMARCH 2021||
|---|---|---|---|---|---|
|DIRECTORS||J.A. R. McIntosh
(Chairman)||||
|||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,||||
|||Chartered
Accountants,||||
|||One Eastwood,
Harry Weston Road||||
|||Binley Business Park||||
|||Binley||||
|||Coventry||||
|||CV3 2UB.||||
|BANKERS||NatWest
Bank Pic.,||||
|||Coventry
City Office,||||
|||24 Broadgate,||||
|||Coventry,||||
|||CV1 1ZZ.||||
|SOLICITORS||Brindley Twist Tafft 5James LLP||||
|||Lowick Gate||||
|||Siskin Drive||||
|||Coventry||||
|||CV3 4FJ||||
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|||||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|
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||||||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|
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||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|
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|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|
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|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|
##
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|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|
##
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|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|
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|||||||
|---|---|---|---|---|---|
|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
|||
|---|---|---|---|---|---|
|||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|
##
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|
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|||
##
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|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)|
##
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|(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|