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|Trustees'<br>and directors'<br>report (including<br>strategic report)|Trustees'<br>and directors'<br>report (including<br>strategic report)||||||
|---|---|---|---|---|---|---|
|Statement oftrustees'<br>responsibilities|in respect ofthe strategic report, the trustees'||||report and the consolidated||
|financial<br>statements||||||13|
|Independent<br>auditor's<br>report to the members ofSheffield||City Trust||||14|
|Consolidated<br>statement offinancial|activities (incorporotiug||income & expenditure||account)|19|
|Company<br>stateinent offinancial activities (incorporutiag||income &expenditure||account)||20|
|Consolidated<br>balance sheet||||||21|
|Company<br>balance sheet||||||22|
|Consolidated<br>cash flow smtement||||||23|
|Notes to the financial statements||||||24|





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|Trustees'<br>and directors' report (including|Trustees'<br>and directors' report (including|strategic report)<br>(contfntzed)|strategic report)<br>(contfntzed)|strategic report)<br>(contfntzed)||
|---|---|---|---|---|---|
|Streamlined<br>Energy and Carbon Reporting||||||
|GHG emissions and energy ase dataforperiod l-April-2020|||to|3/-March-202l||
|||||Current Reporting Year|Prior Reporting year|
|||||2020-2021|2019-2020|
|||||UK GHG Emission and|UK GHG Einission and|
|||||Ene<br>Data|Energy Data|
|Energy<br>consumption<br>used<br>to calculate<br>emissions<br>(kWh),<br>mandatory<br>energy sources are included.|||all|31,222,760|47,407,108|
|Scope 1:Emissions from the combustion<br>ofNatural|Gas tCOze|||1,864.5|2,877.2|
|Scope 1:Einissions<br>from combustion<br>of Fuel for <br>heating (Tinsley) tCOze|transport||and|77.2|81.6|
|Scope 3: Emissions<br>from business<br>travel<br>in employee||owned||||
|vehicles,<br>where<br>the<br>company<br>repaid<br>mileage|claims|tCOze|||3.8|
|(average vehicle / fuel source unknown)||||||
|Scope 2:Emissions from purchased<br>Electricity tCOze||||2,1732|4,674.1|
|Scope 2: Emissions<br>from purchased<br>Heat / Steam <br>Heating tCOze|from|District||1,113.1|1,286.3|
|Total gross COze based on above (tCOze)||||5,234.4|8,923.0|
|Intensity<br>Ratio: kg Coze gross based on mandatory|fields|above||||
|per metre square ofGross Internal Area:<br>(kg COze m z)||||34.9kg Coze m-z|60.3kg COze m.z|



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|eparate opinion o|n these matters.|||
|---|---|---|---|
|Going concern|Disclosure quahty|Our response||
|Recurring<br>risk|The financial statements<br>explain how the|We considered<br>whether<br>these<br>risks<br>could<br>plausibly||
|—Group &|Board has formed ajudgeinent<br>that it is|affect the liquidity<br>in the going<br>concern<br>period|by|
|Trust|appropriate<br>to adopt the going concern|assessing<br>the trustees'<br>sensitivities<br>over the level|of|
||basis ofpreparation<br>for the Group and|available<br>financial resources indicated by the Group's||
|Refer topage<br>24 (accounting<br>policy) and|Trust.<br>That judgement<br>is based on an evaluation<br>ofthe inherent<br>risks to the Group's and|financial<br>forecasts<br>taking<br>account<br>of severe,<br>but<br>plausible,<br>adverse<br>effects that could arise &om these<br>risks individually<br>and collectively.||
|page 55|Trust's business model and how those|Our procedures<br>included:||
|(financial<br>disclosures)|risks might affect the Group's<br>and Trust's<br>financial resources or ability to continue|Funding<br>assessraentt||
||operations<br>over aperiod ofat least ayear<br>fiom the date ofapproval ofthe financial|~<br>Challenging<br>the Group's assessment ofthe<br>ongoing support that is projected to be provided||
||statements.|by Sheffield City Council over the foreseeable||
|||future.<br>This includes legally binding<br>funding||
|||along with indications<br>that further funding<br>will||
|||be made available.||





## 

|Going|concern|Disclosure quality|Our|response|
|---|---|---|---|---|
|||The risks most likely to adversely affect|~|Inquiring ofSheflield City Council with|
|||the Group's and Trust's available<br>financial||regard to the content ofthe letter ofsupport,|
|||resources over this period were:||and their intention<br>and ability to fund the cash|
|||The ability ofthe Group and Trust to<br>eet cash flow forecasts due to||flow requirements<br>ofthe Group insofar as<br>required.|
|||uncertainties<br>such as revenue growth and<br>control ofthe operating cost base including<br>the potential impact ofCovid-19 on the|Historical compansonst<br>~<br>Assessing<br>the reasonableness<br>ofthe budgets||
|||ability to operate venues; and<br>The intention ofSheffield City Council,<br>the Group snd Trust's inain Funder, to|and forecasts by considering<br>the historical<br>accuracy ofprevious forecasts.<br>Sensitivity analysis:||
|||provide ongoing additional<br>cash flow<br>funding<br>as required to support the Group<br>and trading subsidiaries<br>as required.|~|Considering<br>sensitivities<br>over the level of<br>available<br>financial resources indicated by the<br>Group's financial forecasts taking account of|
|||The risk for our audit was whether ornot||reasonably<br>possible (but not unrealistic)|
|||those risks were such that they amounted||adverse efFects that could arise from these|
|||toa material uncertainty<br>that may have cast<br>significant<br>doubt about the ability to||risks individually<br>snd collectively<br>including<br>the ongoing potential impact ofCovid-19.|
|||continue as agoing concern.<br>Had they<br>been such, then that fact would have been|Benchtnarkin gassn mpttanst||
|||required to have been disclosed|~|Comparing<br>and challenging<br>budgets<br>and|
|||||forecasts against known parameters<br>such as|
|||||funding<br>streams and committed cost base.|
||||Assessing<br>transparsncyt||
||||~|Assessing the completeness<br>and accuracy of|
|||||the matters covered in the going concern|
|||||disclosure by comparing<br>the disclosure to our|
|||||knowledge<br>accumulated<br>thmughout<br>the audit.|
||||Our|results: We found the going concern disclosure|
||||without<br>any material<br>uncertainty<br>to be acceptable||
||||(2020 result: acceptable).||



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## 

|For the year ended 3|1March|2021||||<br>||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|Fuads-|funds|funds|
||||||charitable|||
||||||activities|||
||||Note|2021|2021|2021|2020|
|||||4000|8000|8000|f000|
|Incoming resources||||||||
|Income frotn charitable|activities|||5,224||5&224|30,8$7|
|Investment<br>inoome||||5||5|7|
|Income from donations|and legacies - Grants|||7,274|1,575|8,849|2,462|
|receivable||||||||
|Income from donations|and legacies - Sheifield|||11,742||11,742|6,82$|
|City Council||||||||
|Total iacoming resources||||24,245|1,575|25,820|40,184|
|Resources expeaded||||||||
|Expenditure<br>on raising funds||||(8,925)|(91$)|(9,843)|(22,519)|
|Expenditure<br>on charitable activities||||(17,773)|(684)|(1$,457)|(19,191)|
|Total resources expended||||(26,698)|(1,602)|(28800)|(41,710)|
|Net outgoiag resources <br>Taxation|before|tax||(2&453)<br>68|(27)|(2,480)<br>68|(1,526)<br>(352)|
|Net outgoing resources|before|otber||||||
|recognised<br>gains and losses||||(2385)|(27)|(2,412)|(1,878)|
|Actuarial<br>(loss)/gain<br>recognised||in the pension|22|(2,530)||(2&530)|9$4|
|scheme||||||||
|Related tax||||19||19|(19)|
|Net loss in the year||||(4,896)|(27)|(4,923)|(913)|
|Fund balances brought forward||||(13,614)|30,715|17,101|18,014|
|Fuad balances carried|forward||4/5|(18&510)|30,688|12,178|17,101|





## 

||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds—|funds|funds|
|||||||charitable|||
|||||||activities|||
|||||Note|2021|2021|2021|2020|
||||||f000|f000|f000|f000|
|Iacomiag resources|||||||||
|Income fmm charitable|activities||||3,092||3,092|10,485|
|Investment<br>income|||||5||5|7|
|Income from donations|and legacies - Grants receivable||||4,380|642|5,022||
|Income fium donations|and legacies - Shetfield City||||||||
|Council|||||11,742||11&742|6,757|
|Total incomiag resources|||||19419|642|19,861|17,249|
|Resources expended|||||||||
|Expenditure<br>on charitable||activities|||(18833)|(684)|(19,017)|(21,350)|
|Impairment<br>ofinvestment||||||||(8,907)|
|Total resources expended|||||(lth333)|(684)|(19&017)|(30,257)|
|Net incoming/(outgoing)||resources before tax|||8$6|(42)|844|(13,008)|
|Tsx|||||||||
|Net incoming/(outgoing)||resources before other|||||||
|recognised<br>gains and losses|||||886|(42)|844|(13,00B)|
|Actuarial<br>(loss)/gain<br>recognised|||in the pension scheme|22|(2,1$6)||(2,186)|955|
|Net loss in tbe year|||||(1,300)|(42)|(1,342)|(12,053)|
|Fund balances brought|forward||||(17460)|9,972|(7,28$)|4,765|
|Fund balances carried|forward|||4/5|(1$,560)|9,930|(8,630)|(7,28$)|





## 




## 

|||||||Note||2021||2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||f000|f000|f000|f000|
|Fixed assets|||||||||||
|Tangible fixed assets|||||||125,440||126,140||
|Intangible<br>assets|||||||35||||
|||||||||125,475||126,140|
|Current assets|||||||||||
|Stock||||||14|9||1||
|Debtors (including<br>debtors due aiier <br>f32,490,000(2019- f32,49a000))|||||one year of|15|35,495||35,026||
|Cash at bank and in|hand||||||2,629||1,516||
||||||||38,133||36,543||
|Creditors:<br>amounts||falling due within one year|||||(28,629)||(29,495)||
|Net current assets||||||||9,504||7,048|
|Total assets less current Iiabiittes||||||||134,979||133,188|
|Creditors: amounts||falling||due sfier more than|||||||
|one year||||||17||(127,674)||(127,387)|
|Net assets —excluding|||pension liability|||||7305||5,801|
|Pensioa liability||||||22||(15,935)||(13,089)|
|Net liabilities —including||||pension|liability|||(8,630)||(7,288)|
|Fund balances|||||||||||
|Unrestricted<br>reserves|||||||||||
|Designated<br>reserve||||||||512||500|
|General reserve||||||||(3,137)||(4,671)|
|Pension reserve||||||||(15,935)||(13,089)|
|Net unrestricted<br>funds||||||||(18460)||(17,260)|
|Restricted funds||||||||9,930||9,972|
|Total funds||||||||(8,630)||(7,288)|





|||||Sheffield|City Trust|
|---|---|---|---|---|---|
|||Annual report and consolidated||financial|statements|
||||Year ended 31March 2021|||
|Consolidated<br>cash flow statement||||||
|Foryear ended 31March 2821||||||
|||Note|2021<br>f000||2020<br>f000|
|Cash flows from operating<br>activities||||||
|Net outgoing resources before other recognised|gains or losses||(2,412)||(1,878)|
|Adjustments for:||||||
|Depreciation<br>and amortisation||10/11/12|3,199||3,257|
|Interest receivable and similar income|||(5)||(7)|
|Interest payable and similar charges|||4/48||5,153|
|Pension charges in excess ofcash contributions|||112||299|
|Tax|||(68)||352|
|Loss/(pmfit)<br>on disposal|||33||(I)|
||||5,107||7,175|
|Increase in trade and other debtors|||(597)||(436)|
|Decreme in stocks|||27||135|
|Incrcme/(decrease)<br>in trade and other creditors|||97||(147)|
||||4,634||6,727|
|Tsx paid|||||(35)|
|Net cash from operatiag activities|||4,634||6,692|
|Cash flows from investiag<br>activities||||||
|Acquisition oftangible fixed assets<br>Acquisition ofintangible<br>assets||12<br>11|(1,662)<br>(43)||(2,525)|
|Interest received||||||
|Net cash from investiag<br>activities|||(1,700)||(2,518)|
|Cash flows from financing activities||||||
|Pmceeds from new loan|||15,894||15,076|
|Interest paid<br>Repayment ofborrowings<br>Payment offinance lease liabilities|||(3,940)<br>(14&709)<br>(425)||(7,463)<br>(20,552)<br>(590)|
|Net cash from finaacing activities|||(3,180)||(13,529)|
|Net decrease in cash and cash equivalents|||(246)||(9,355)|
|Cash and cash equivalents<br>brought forward|||4493||13,748|
|Cash and cash equivalents<br>carried forward|||4,147||4,393|





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|heffield Intern|ational|Venues Iimited|||
|---|---|---|---|---|
||||2021|2020|
||||KOOO|5000|
|Turnover|||1,963|16,897|
|Other operating|income||1&515|83|
|Raw materials|and consumabies||(95)|(2,374)|
|StafFcosts|||(2,297)|(5,908)|
|Depreciation|||(871)|(744)|
|Other operating|charges||(3,480)|(8,181)|
|Operating<br>loss|||(3,265)|(227)|
|Net interest payable|||(26)|(61)|
|Loss on ordinary<br>activities before taxation|||(3,291)|(288)|
|Tax on loss on|ordinary|activities||(354)|
|Loss retained|ia the subsidiary||(3i291)|(642)|



|The directors reviewed the funding|The directors reviewed the funding|The directors reviewed the funding|arrangements|arrangements|for Sheffield International|Venues Limited and its budgets for|Venues Limited and its budgets for|Venues Limited and its budgets for|
|---|---|---|---|---|---|---|---|---|
|the coming years and|believe|that|it will gradually||start to make aposifive|contribution|to the financial|affairs|
|ofthe charity, despite|the current||impact of Covid-19 in the short term.||||||
||||||||2021|2020|
|The assets and liabilities ofthe||subsidiary||were:|||6000|5000|
|Tangible fixed assets|||||||3,020|2,934|
|Current assets|||||||11,025|11,715|
|Creditors: amounts<br>falling dae within|||one|year||(12,610)||(9,964)|
|Provisions for liabilities|||||||(395)|(354)|
|Net assets|||||||1,040|4,331|
|Statement ofother comprehensive||income|||||||
||||||||2021|2020|
||||||||OOOO|5000|
|Loss for the financial period|||||||(3,291)|(642)|
|Capital contribution||||||||8,907|
|Total comprehensive|(expense)/income|||for the financial year|||(3,291)|8,265|





## 

## 

|7Hills Leisure Trust|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted||||||||
|||||||funds-||Total|||Total||
|||||||General||funds|||funds||
|||||||2021||2021|||2020||
|||||||5000||8000|||5000||
|Incomingresources|||||||||||||
|Income fiom charitable activities||||||35||35|||569||
|Income fiom donations<br>snd legacies - grants receivable||||||12||12|||2,391||
|Total incoming resources||||||47|||||2,960||
|Resources expended|||||||||||||
|Expenditure<br>an charitable<br>activities||||||(122)||(122)|||(685)||
|Total resources expended||||||(122)||(122)|||(685)||
|Nct (outgoing)/incoming<br>resources before|||||||||||||
|other recognised gains aud losses||||||(75)||(75)|||2,275||
|Nst movements<br>In the year||||||(75)||(75)|||2,275||
|Fund balances at I April 2020||||||||489|||(1,786)||
|Fuad balances carried forward||||||414||414|||489||
|The directors reviewed<br>the funding|arrangements||for 7|Hills Leisure||Trust and|its budgets||and|believed that||it|
|would better deliver against its charitable objects|||by transferring||its operations||into its|parent charity, Sheffield|||||
|City Trust and as such, on I April|2019,the operations,|||together with the assets and||||liabiTities, of all venues|||||
|with the exception ofWestfield Sports Centre||and Sinfin Golf|||Course|were transferred||to Sheffield City Trust|||||
|at book value.<br>The assets and liabilities ofWestfield Sports Centre and Sinfin|||||||golf course||were transferred|||to|
|Sheffield City Trust on INovember|2020 and IMay 2020respectively.|||||As part|ofa streamlined|||group|structure||
|itwill drive further efficiencies snd|ultimately|impmve||the resources||available|to deliver the charitable||||objects||
|ofboth charities.|||||||||||||






## 

## 

||||2021|2020|
|---|---|---|---|---|
||||5000|5000|
|Income|||||
|Lottery grant released|||433|433|
|Yorkshire Forward|grant|released|14|14|
|Lifecycle fund|||93|53|
|Grant income|||71||
|Rental income||||(460)|
|Other income|||91|92|
|Total iacome|||702|176|
|Expenditure|||||
|Management<br>contract||||460|
|Building Maintenance|||(40)||
|Depreciation|||(658)|(631)|
|Operating<br>profit|||||
|Profit on ordiaary|activities before tax||4||
|Tax on pmfit on onlinary||activities|35||
|Profit retained ia|the subsidiary||39||



|years and believe<br>harity.|that it|will gradually|start to make a positive<br>contri|bution<br>to the financial<br>aff|airs ofthe|
|---|---|---|---|---|---|
|||||2021|2020|
|The assets and liabilities ofthe subsidiary|||were:|5000|5000|
|Tangible fixed assets||||17g99|18,057|
|Current assets||||2,520|3,075|
|Creditors: amounts|falling|due within one|year||(641)|
|Deferred income:|amounts|falling due within one year||(571)|(611)|
|Deferred income:|amounts|falling due atter more than one year||(19,453)|(20,024)|
|Net liabilities||||(105)|(144)|





## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||8000|6000|
|Tlnllovcr||||123|3,093|
|Other operating|income|||1,575|590|
|Raw materials<br>and consnmables||||(46)|(775)|
|Staffcosts||||(632)|(1,741)|
|Depreciation||||(20)|(56)|
|Other operating|charges|||(8&4)|(1,433)|
|Operating<br>loss||||116|(322)|
|Other finance income||||3|2|
|Profit/(loss)<br>on|ordinary|activities before taxation||119|(320)|
|Tax on pmfit/(toss)<br>on ordinary|||activities|32|2|
|Profit/(loss)<br>retaiaed in||the subsidiary||151|(318)|



|The operation ofTapton Golf|The operation ofTapton Golf|course was transferred|to Sheffield City Trust on 1 May 2020 and the|to Sheffield City Trust on 1 May 2020 and the|to Sheffield City Trust on 1 May 2020 and the|assets|
|---|---|---|---|---|---|---|
|and liabilities<br>were transferred||at their net book value||on this date. The|operation of Scarborough|Spa,|
|Whitby Pavilion and Peasholm||Park Cafd was transferred||to Scarborough|Borough Council on 1February||
|2021 following<br>termination|ofthe contract.||||||
||||||2021|2020|
|The assets and liabilities ofthe|subsidiary<br>were:||||%0&0|5000|
|Tangible fixed assets||||||285|
|Current assets|||||1,815|1,345|
|Creditors: amounts<br>falling due|within one year||||(3,556)|(3,246)|
|Provision for liabilities||||||(5l)|
|Pension asset||||||100|
|Net liabilities|||||(1,741)|(1,567)|
|Statement ofother comprehensive||income|||||
||||||2021|2020|
||||||0000|8000|
|Loss forthe financial period|||||151|(318)|
|Actuarial<br>(loss)/gain<br>recognised|in the pension scheme||||(344)|29|
|Tax on actuarial (loss)/gain|||||19|(19)|
|Total comprehensive<br>expense|for the financial period||||(174)|(308)|





## 

## 

|||||||||Group||Company||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Vnrsstritsed|funds||||||2021||2020|2021|2020|
||||||||6000||5000|6000|5000|
|Erpenditure|on raising|fends||||||||||
|Gmund rent|||||||26||123|||
|Other finance income —including pension|||||||(3)||(2)|||
|Overheads|includiog|staff costs,|||depreciation|and||||||
|finance lease intmest|||||||8,902||21,855|||
||||||||8,925||21,976|||
|Expenditure|on charitable||activi ties|||||||||
|Ground rent|||||||80||105|80|105|
|Interest on loans|||||||84||58|84|58|
|Interest payable on bonds|||||||3,803||4,676|3dt03|4,676|
|Other finance costs —including||||pension|||319||337|319|337|
|Overheads|including|staff costs,|||depreciation|and||||||
|finance lease interest|||||||13,487||13,421|14,047|13,226|
|Impairment|ofinvestment||||||||||8,907|
|Donations to subsidiary||in|respect ofpension deficit||||||||2,354|
||||||||17,773||I8,597|IOE33|29,663|
|Total unrestricted<br>resources||||expended|||26,698||40,573|18433|29,663|
|Restricted funds||||||||||||
|Expendiyure|on raising|funds||||||||||
|Ovmheads|||||||194||32|||
|Depreciation|||||||724||511|||
||||||||918||543|||
|Expenditure|on charitable||activi ties|||||||||
|Overheads|||||||219||40|219|40|
|Depreciation|||||||465||554|465|554|
||||||||||594||594|
|Total restricted resources expended|||||||1,602||1,137||594|





## 

## 

||At|||||At|
|---|---|---|---|---|---|---|
||beginning of|||Movement|in|end of|
||year|Income|Utilised|pension deficit||year|
||6000|6000|f000|6000||8000|
|Group|||||||
|Designated funds|||||||
|Direct support ofother charitable|492|91|(78)|||505|
|activities in Sheffield|||||||
|Health fund|||||||
|General funds|||||||
|Reuuned deficit|(1,125)|24,154|(26,116)|||(3,0871|
|Pension reiertu|(12,989)||(416)|(2,530)||(15,935)|
||(13,614)|24,245|(26,611)|(2,530)||(tl4510)|
|Company|||||||
|Designated funds|||||||
|Direct support ofother charitable<br>activities in Sheffield|492|91|(78)|||505|
|Health fund<br>General fundr|||(1)||||
|Retained deficit|(4,671)|19,128|(17,594)|||(3,137)|
|Pemion rererre|(13,089)|-|(660)|(2,186)||(15rr35)|
||(17,260)|19,219|(18,333)|(2,186)||(Ia560)|






## 

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## 

||||Group||Company||
|---|---|---|---|---|---|---|
|||2021||2020|2021|2020|
|||5000||5000|5000|f000|
|Auditor's|remuneration<br>-Audit ofthese finsncisl|100||100|45|40|
|statements|||||||
|Depreciation ofowned assets||3,054||3,017|1400|1,412|
|Depreciation ofassets held under finance leases||340|||340|413|
|Hire ofassets under operating leases - other assets||181||225|167|142|
|Amoriisation ofnegative goodwill||(2051||(205)|||
|Impalnueai|oftrade receivables|22||31|12||
|Inventory|recognised as an expense|72||2,678|||



## 



## 

## 

## 

|he average number ofpersons<br>e<br>ategory, was as follows:|mployed<br>by the group<br>(includi|ng<br>directors)<br>duri|ng<br>the year analysed<br>by|ng<br>the year analysed<br>by|
|---|---|---|---|---|
|||Croup|Company||
||2021|2020|2021|2020|
||Number|Number|Number|Number|
|Leisure|323|485|315|473|
|Maintenance|167|270|151|231|
|Administration|133|176|127|166|
|Catering|167|329|143|260|
||790|1,260|736|1,130|



|||Group|||Company||
|---|---|---|---|---|---|---|
||2021||2020|2021||2020|
||8000||6000|8000||f000|
|Wages aad salaries|10,112||15,502|9,514||12,688|
|Social security costs|662||847|624||778|
|Other pension costs|1,402||1,212|1,578||1,365|
|Redundancy<br>costs|863|||708|||
||13,039||17,561|12rt24||14,831|



|he number ofemployees<br>in the gmup<br>whose <br>ollows:|emoluments<br>amounted<br>to over f60,000 in t|he year was as|
|---|---|---|
||2021|2020|
|660,001 - 870,000|4|2|
|870,001 - 680,000|1|1|
|6100,001 - 6110,000|||
|gt 10,001 - 8120,000|1|1|





|Notes|to the financial statements|(continued)||||
|---|---|---|---|---|---|
||Tnx|||||
||Analysis ofcharge inyear||Group|||
||||2021||2020|
||||8000||5000|
||Current tax|||||
||Adjustments<br>in respect ofprior periods||(76)|||
||Total current tax charge forthe year||(76)|||
||Deferred tax|||||
||Origination<br>and reversal oftiming differences||||318|
||Impact ofchange in tsx mte||||34|
||Total tax charge for the year||(68)||352|
||Factors affecting the tax chargefor the current year|||||
||The current tax charge for the period|is higher (2020:higher)|than the standard rate ofcorporation|tax in the||
||United Kingdom,<br>which, for the period ended 31March 2021,was 19%(2020: 19%).The differences||||are|
||explained below:|||||
||||2021||2020|
||||f000||f000|
||Net outgoing resources before tsx||(2&480)|(1,526)||
||Current tax at 19%(2020:19%)||(471)||(290)|
||Non deductible<br>and non taxable items||(121)||302|
||Adjustments<br>relating to prior periods||(76)|||
||Utilised losses||||(40)|
||Pension scheme adjustments||(86)||(32)|
||Short term timing differences||||13|
||Deferred tax not recognised||536||278|
||Re-measuremeut<br>ofdeferred tax —change in VKtax rate||||34|
||Depreciation<br>in excessofcapital allowances||150|||
||Tsx losses||||87|
||Total tax charge forthe year||(68)||352|






|Note|s to the financial statements<br>(continued)||
|---|---|---|
|10|Negative<br>goodwill||
|||f000|
||Cost||
||At beginning<br>snd end ofyear|(8,741)|
||Impairment<br>lassaslamartisatian||
||At beginning ofyear|1,758|
||Charge for year|205|
||At end ofyear|1,963|
||Canylng amount||
||At end ofyear|(6,778)|
||At beginning ofyear|(6,983)|



|Intangible<br>assets<br>Group||
|---|---|
||Total|
||8000|
|Cost||
|At beginning ofyear|4|
|Additions|43|
|At eodofyear|47|
|Amartisatian||
|At beginning ofyear|2|
|Charge foryear|10|
|At end ofyear|12|
|Closing nat book amount||
|At end ofyear|35|
|At beginning ofyear||





## 

|Company||||||
|---|---|---|---|---|---|
||||||Total|
||||||8000|
|Cost||||||
|At beginning ofyear||||||
|Group transfers/Additions|||||2|
|Additions|||||43|
|At ead ofyear|||||45|
|A&aartitaooa||||||
|At beginning ofyear||||||
|Charge for year|||||10|
|At eud ofyear|||||10|
|Closing nat book amount||||||
|At ead ofyear|||||35|
|At beginning ofyear||||||
|Tangible lixed assets||||||
|Group||Leasehold|Fixtares,|Assets||
||Freehold|land and|fittiags and|under||
||land|buildings|equipment|construction|Total|
||t(000|8000|8000|8000|8000|
|Cost||||||
|At beginning ofyear|468|173,740|23,495|613|198,316|
|AddiYions|||7|1,709|1,716|
|Dispossls|||(233)|(11)|(244)|
|Transfers|||2,006|(2,049)|(43)|
|At eud ofyear|468|173,740|25275|262|199,745|
|Dtp&eclat/aa||||||
|At beginning ofyear||28,864|15,051||43,915|
|Charge foryear||1,292|2,102||3,394|
|Disposals|||(200)||(200)|
|At end ofyear||30,156|16,953||47,109|
|/Vat book &ulna||||||
|At end ofyear|468|143&584|8@22|262|152,636|
|At beginning ofyear|468|144,876||613|154,401|



## 



## 

## 

|Company||Leasehold|Fixtures,|||
|---|---|---|---|---|---|
||Freehold|land and|fittings aad|Assets Under||
||land|buildings|equipment|Constructioa|Total|
||8000|8000|f000|%000|8000|
|Cost||||||
|At beginning ofyear|468|141,439|8,554|161|150,622|
|Additions|||7|625|632|
|Disposals|||(40)||(40)|
|Transfers|||555|(598)|(43)|
|Group Transfers|||351||351|
|At eod ofyear|468|141,439|9,427|188|151,522|
|Depreciation||||||
|At beginning ofyear||19,936|4,546||24,482|
|Charge for year||601|1,039||1,640|
|Disposals|||(40)||(40)|
|At end ofyear||20,537|5,545||26,082|
|it(et book value||||||
|At end ofyear|468|120,902|3,882|188|125,440|
|At beginning ofyear|468|121,503|4,008|161|126,140|



|he following<br>are included<br>in the total ne<br>nance leases.|t book value oftangible axed assets in respect|ofassets held under|
|---|---|---|
||Group|Compaay|
||Fixtures,|Fixtures,|
||fittiags and|fittings and|
||equipment<br>f000|equipmeat<br>6000|
|2021|||
|Net book value|1,013|1,013|
|Depreciation|340|340|
|2020|||
|Net book value|1,353|1,353|
|Depreciation||413|






|||||Principal|Country|of|Percentage|
|---|---|---|---|---|---|---|---|
|||||activity|registration||ofordinary|
||||||||shares held|
|Subsidiary|undertakings|||||||
|Shcffield|International||Veaaes Limited|Management<br>ofsporting<br>and|England|aad|100|
|||||entertainment<br>facilities and|Wales|||
|||||provision ofcatering and||||
|||||conferencing<br>services||||
|7Hills Leisure||Trust||Management<br>ofsporting<br>and|England|and||
|||||recreational<br>facilities|Wales|||
|7Hills Commercial|||Limited|Provision ofcatering services|England|and|100s"|
||||||Wales|||
|Phoenix Sports||Limited||Operation<br>and strategic|England|snd||
|||||direction ofEnglish Institute of|Wales|||
|||||Sport- Sheffield (EISS)||||
|SIVEnterprises||Limited||Management<br>ofsporting aad|England|snd|100***|
|||||recreational<br>facilities, acatering|Wales|||
|||||facility and the provision of||||
|||||consultancy<br>services||||





## 

## 

## 

## 

## 

|tocks||||||||
|---|---|---|---|---|---|---|---|
|||||Group||Company||
||||2021||2020|2021|2020|
||||5000||6000|5000|f000|
|Goods for resale|||123||150|||
|ebtors||||||||
|||||Group|||Company|
||||2021||2020|2021|2020|
||||5000||6000|8000|6000|
|Trade debtors|||1,4$0||676|$91|224|
|Other debtors|||26||103|3|83|
|Prepsymeots||and accrued income|34,067||34,197|33,109|33,627|
|Amounts|owed by gmup codon«kings|||||1&492|1,092|
|Corporation||tax|78|||||
||||35&651||34,976|35,495|35,026|



## 



## 

## 

|||||Group|||Company|
|---|---|---|---|---|---|---|---|
||||2021||2020|2021|2020|
||||8000||f000|f000|f000|
|Bank loans|(seenote 17)||82||68|82|68|
|Other loans|||1,171||1,525|1,171|1,525|
|Obligations|under finance|leases (seenote 17)|308||420|308|420|
|Bonds|||15,570||14,641|15470|14,641|
|Trade creditors|||17134||2,453|680|866|
|Other creditors including||taxation snd social security|8,999||7,704|431|1,283|
|Accrual ssnd deferred income|||2467||2,246|1,161|1,098|
|Amounts<br>owed togmup undutakiugs||||||9,226|9,594|
||||29,631||29,057|28,629|29,495|



## 




## 

## 

## 

## 

|he maturity ofthe bank and other loans i|s due as follows;|||||
|---|---|---|---|---|---|
|||Group|||Compaay|
||2021||2020|2021|2020|
||5000||5000|5000|f000|
|Within one year|1453||1,593|1,253|1,593|
|In the second tofiSh years|2,561||1,035|2,561|1,035|
||3,814||2,628|3,814|2,628|



|e bonds are stated net ofunamorfised<br>issue cos<br>f795,000.|ts of5873,000an|d gross|ofthe unam|ortised<br>issue prem|imn|
|---|---|---|---|---|---|
|||Group||Company||
|The maturities ofthe bonds are as follows:|2021||2020|2021|2020|
||4000||OOOO|f000|6000|
|Within one year|15470||14,641|15,570|14,641|
|In the second tofifih years|34,155||49,721|34,155|49,721|
||49,725||64,362|49,725|64,362|



|The mstcrities of obligations|under|the leases are as||Group|||Company|
|---|---|---|---|---|---|---|---|
|follows:||||||||
||||2021||2020|2021|2020|
||||5000||5000|f000|6000|
|Within one year|||308||420|308|420|
|In the second to fifih years|||270||584|270|584|
||||578||1,004|578|1,004|





## 


## 

|Deferred tax||||||||
|---|---|---|---|---|---|---|---|
|||Accelerated|tax<br>Other timing|||2021|2020|
|||depreciation||differences|Total||Total|
||||f000|f000||f000|6000|
|At 1 April 2019|||312|(1,725)|(1,413)||(960)|
|Movement<br>in year|||74|1,476|1,550||(453)|
|At 31March 2020& 1 April 2020|||386|(249)||137|(1,413)|
|Movement<br>in year|||10|(598)||(588)|1,550|
|At 31March 2021|||396|(847)||(451)|137|
|Recognised|||396|||396|405|
|Vnrecognised||||(847)||(847)|(268)|
||||396|||(451)|137|
|he deferred tsx asset has not been recognised|on|the grounds|that there|is insuBictent|evidence|that the|asset will be|
|ecovered.||||||||
|Analysis ofgroup net assets between funds||||||||
|||Unrestricted||||||
|||(designated<br>and||||||
||||general)<br>f000|Restricted<br>f000|||Total<br>5000|
|Tangible fixed assets|||121,948|30,688|||152,636|
|intangible<br>Assets|||35||||35|
|Net current assets|||10,290||||10,290|
|Liabilities falling due atter more than one year||(127,674)|||||(127&674)|
|Provisions for liabilities|||(396)||||(396)|
|Pension liability (note 22)|||(15,935)||||(15&935)|
|Negative goodwill|||(6,778)||||(6&778)|
|Net assets as at31March 2021|||(18,510)|30,688|||12,178|
|Net assets as at31Match 2020|||(13,614)|30,715|||17,101|



## 

## 



## 

## 

|Annual|commitments|commitments|under non-cancellable|operating|leases are as|follows:||||
|---|---|---|---|---|---|---|---|---|---|
||||||Group|||Company||
|||||2021||2020|2021||2020|
|||||f000||f000|0000||f000|
|Operating||leases which|expire:|||||||
|Within||one year|||142|195|142||113|
|In|the|second to fifih years inclusive|||361|455|361||173|
|More||than five years|||559|625|559|||
|||||1,062||1,275|1&062||286|



## 

## 

## 

|periods shown.|||||||||
|---|---|---|---|---|---|---|---|---|
||||2021|||2020|||
|||South|North|||South|North||
||Derbyabire|Yorkshire|Yorkshire|Total|Derbyshire|Yorkshire|Yorkshire|Total|
||8000|8000|8000|8000|5000|5000|5000|5000|
|Present value offunded|||||||||
|defined benefit||(64&464)||(64,464)||(53,737)|(2,325)|(56,062)|
|obligations|||||||||
|Fair value ofplan asses||4(k570||48070||40,688|2,425|43,113|
|||(15,894)||(15,894)||(13,049)|100|(12,949)|
|Present value ofunfunded|||||||||
|defined benefit||(41)||(41)||(40)||(40)|
|obligations|||||||||
|Net olsbfiity)/asset||(35835)||(15,935)||(13,089)|100|(12,989)|





## 

## 

|Movements inpresent|Movements inpresent|value|ofdeftned|ofdeftned|beneftt obligation|beneftt obligation|beneftt obligation||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||2021||||||2020|||
|||||||South|North|||||South|North||
||||Derbyshire<br>f000||Yorkshire<br>Yorkshire<br>8000<br>8000||||Total<br>Derbysbire<br>Yorkshire<br>8000<br>f000<br>f000||||Yorkshire<br>f000|Total<br>f000|
|At beginning ofyear|||||53,777||2425|56,102||1,404||56,630|2,372|60,406|
|Current service cost||||||828|41||869|||996|68|1,064|
|Interest cost||||||19284|44||1428|||1,406|58|1,464|
|Curtailment||||||230|8||238||||||
|Actuarial<br>losses/(gains)||||||9,072|925||9,997|||(4,498)|(78)|(4,576)|
|Past service cost||||||||||||97||97|
|Contributions<br>by members||||||169|7||176|||193|12|205|
|Benefits paid||||||(855)|(46)||(901)|||(1,047)|(107)|(1,154)|
|Settlanents||||||(3)304)||(3404)||(1,404)||||(1,404)|
|At end ofyear|||||64,505|||||||53,777|2,325|56,102|
|Move/sents<br>infair|value ofplan|||asse/s|||||||||||
|||||||2021|||||||2020||
|||||||South<br>North||||||South|North||
||||Derbyshire||Yorksldre<br>Yorkshire||||Total<br>Derbyshire||Yorkshire||Yorksbue|Total|
|||||f000||f000|f000||8000|f000||f000|f000|f000|
|At beginning ofyear|||||40,688||2,425|43,113||1,194||43,435|2,422|47,051|
|Expected return on|plan||||||||||||||
|assets||||||977|47||1&024|||1,082|60|1,142|
|Actuarial<br>gains/fiosses)||||||6,886|581||7,467|||(3,543)|(49)|(3,592)|
|Administration<br>expenses||||||(12)|||(12)|||(14)||(14)|
|Contributions<br>by employer||||||717|61||778|||582|87|669|
|Contributions<br>by members||||||169|7||176|||193|12|205|
|Benefits paid||||||(855)|(46)||(901)|||(1,047)|(107)|(1,154)|
|Settlements|||||||(3,075)|(3,075)||(1,194)||||(1,194)|
|At end ofyear|||||48,570|||48470|||-|40,688|2,425|43,113|
|Expense recognised|in /Ae s/stamen/|||oflinancia!||activities|||||||||
|||||||2021|||||||2020||
|||||||South|North|||||South|North||
|||||Derhyshire<br>f000||Yorkshire<br>fess|Yorkshire<br>f000||Total<br>fees|Derbyshire<br>f000||Yorkshire<br>f000|Yorkshire<br>f000|Total<br>f000|
|Cmrent service cost||||||828||41||||996|68|1,064|
|Past service cost||||||||||||97||97|
|Effectofcmtafimeots||||||230||8|238||||||
|Liabilities extinguished||on|||||(3,304)||(3804)|(1,404)||||(1,404)|
|settlement|||||||||||||||
|Assets distributed<br>on settlement|||||||3,075||3,075|1,194||||1,194|
|Admtuisuatlon<br>expenses||||||12|||12|||14||14|
|Interest on defcnel benefit pension|||||||||||||||
|plea obligation||||||1/84|||1@28|||1,405|58|1,463|
|Expected return on defined benefit|||||||||||||||
|passion plan assets||||||||(47)|(1,024)|||(1,082)|(60)|(1,142)|
|Total||||||1377|(183)||1,194|(210)||1,430|66|1286|





## 

## 

|he e|xpense|is reco(pt(sed|in the followi|ng<br>line item|s in the stat|ement|offinancial|activities:|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||2021||||2020|||
|||||Soutb|North|||South|North||
||||Derbysbire|Yorkshire|Yorkshire|Total|Derbysbiro|Yorkshire|Yorksbirr|Total|
||||8000|8880|8000|8880|6000|6000|6000|6000|
|Smty|costs|||1,870|(180)|898|(210)|1,107|68|965|
|Other|finance|(bmomeycosis||3(yl|(3)|304||323|(2)|321|
|Total||||1477|(183)|1,194|(210)|1,430|66|i/86|



|he fair valu|e|ofthe plan ass|ets and the|return on those assets|return on those assets|were as f|ollows:||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||2021|||||2020||
|||||Soutb|North|||South|North||
||||Derbysbirs|Yorksbire|Yorkshire|Total|Derbysbire|Yorkshire|Yorkshire|Toed|
||||8000|%000|8800|8000|SOOO|6000|5000|6000|
|Equities||||23,847||23,847||21,035|1,419|22,454|
|Government|debt|||6,557||6,557||5,493|463|5,956|
|Corporate bonds||||3,983||3,983||2,970|-|2,970|
|Property||||4,420||4,420||3,662|177|3,839|
|Other||||9,763||9,763||7,528|366|7,894|
|Total||||48/70||48,570||40,688|2,425|43,113|
|Actual return||on plan assets||7,862|628|8,490|-|(1,287)|11|(1,276)|



|South Yorkshire pension scheme|2021|2020|
|---|---|---|
|Discount rate|2.1|2.4|
|Expected rate ofreturn<br>on plan assets|2.1|2.7|
|Rate ofincrease in salaries|4.0|3.4|
|Rate ofinflation|2.7|2.1|
|Rate ofincrease in pensions|2.8|2.2|





## 

|North Yorkshire pension scheme|31January|31March|
|---|---|---|
||2021|2020|
|Discount rate|1.6|2.3|
|Expected rate ofreturn on plan assets<br>Rate ofincrease in salaries|34|2.5<br>3.2|
|Rate ofinflation|2.1|1.9|
|Rate ofincrease in pensions|2.1|1.9|



## 

|The history ofthe plans fo|rthe curren|t and prior per|iods is as follo|ws:||||
|---|---|---|---|---|---|---|---|
|Balance sheet||||||||
|South Yorkshire pension|scheme|2021|2020|2019|2018|2017|2016|
|||XOOO|6000|6000|f000|f000|f000|
|Pmsent value ofscheme liabilities||(64,464)|(53,737)|(56,576)|(51,700)|(53,562)|(40,961)|
|Fair value ofscheme assets||48,570|40,688|43,435|41,748|40,355|32,699|
|Present value ofunfunded|defined|||||||
|benefit obligations||(41)|(40)|(54)|(55)|(59)|(63)|
|Deflcit||(15,935)|(13,089)|(13,195)|(10,007)|(13466)|(8,325)|





|Notes|to the financial statements|(continued)||||||
|---|---|---|---|---|---|---|---|
|22|Pension schemes (continued)|||||||
||Experience adj ustments|||||||
|||2021|2020|2019|2018|2017|2016|
|||'/o|'/o|o/o|s/s|'/o|'/o|
||Experience losses/(gains)<br>on schnne|||||||
||liabilities as apercentage ofscheme|||||||
||liabilities|14.1|(8.4)|6.1|(7.1)|19.4|(7.4)|
||Experieace gains/(tosses)<br>on schtsne|||||||
||assets as apercentage ofscheme assets|14.2|(8.7)|3.0|1.5|15.5|(2.5)|
||Balance sheet|||||||
||North Yorkshire Pension Fund|||||||
|||2021|2020|2019|2018|2017|2016|
|||OOOO|f000|f000|6000|6000|f000|
||Present value ofsche3ne liabilities<br>Fair value ofschetne assets||(2,325)<br>2,425|(2,372)<br>2,422|(2,212)<br>2,161|(2,046)<br>1,930|(1,547)<br>1,506|
||Surplus/(deficit)||100|50|(51)|(116)|(41)|
||Experience adjustments|||||||
|||2021|2020|2019|2018|2017|2016|
|||'/o|o/O|'/o|'/o|'/o|'/o|
||Experience (gains)/losses<br>on scheme|||||||
||liabilities as apercentage ofscheme|||||||
||liabilities||(34)|0.6|0.2|17.4|(7.5)|
||Experience (tosses)/gains<br>on scheme|||||||
||assets as apercentage ofschane assets||(2.0)|5.5|4.8|16,2|(3.3)|





## 

## 

## 

|sponsoring<br>employer<br>or has been allocated a share ofcost under an a<br>shown.|greed group policy throughou|t<br>the periods|
|---|---|---|
||2021|2020|
||f000|f000|
|Present value offunded defined benefit obligations|(64,505)|(53,777)|
|Fair value ofplan assets|48,570|40,688|
|Net aabalty|(15„s/35)|(13,089)|
|Movements<br>inpresent value ofdefined benefit obligation|||
||2021|2020|
||8000|f000|
|At beginning ofyear|53)777|15,174|
|Current service cost|828|996|
|Interest cost|1,284|1,405|
|Curtailment|230||
|Actuarial<br>losses/(gains)|9,072|(4,498)|
|Past service cost||97|
|Contributions<br>by members|169|193|
|Benefits paid|(855)|(1,047)|
|Business combinations||41,457|
|At end ofyear|64,505|53,777|
|Movements<br>infair value ofplan assets|||
||2021|2020|
||8000|5000|
|At beginning ofperiod|40,688|13240|
|Expected return on plan assets|977|1,082|
|Actuarial<br>gains/(losses)|6,886|(3,543)|
|Administration<br>expenses|(12)|(14)|
|Contributions<br>by employer|717|582|
|Contributions<br>by members|169|193|
|Benefits paid|(855)|(1,047)|
|Business combinations||30,195|
|At end ofyear|48,570|40,688|





## 

|xpense recogn|ised in the statement<br>offinancial activities|||
|---|---|---|---|
|||2021|2020|
|||8000|f000|
|Dumnt service|cost|828|996|
|Past service cost|||97|
|Effect ofcurtailments||230||
|Interest on defined beaefit pension plan obligation||1,284|1,405|
|Expected return|on defined benefit pension plan assets|(977)|(1,082)|
|Administration|expenses|12|14|
|Total||1477|1,430|



||||2021|2020|
|---|---|---|---|---|
||||8000|5000|
|Staff|costs||1,070|1,107|
|Other|finance|income|307|323|
|Total|||1477|1,430|



|he fair va|lue ofthe plan assets and the return on tho|se assets were as follows:||
|---|---|---|---|
|||2021|2020|
|||Fair value<br>f000|Fair value<br>5000|
|Equities||23,847|21,035|
|Government|debt|6,557|5,493|
|Corporate|bonds|3,983|2,970|
|Property||4,420|3,662|
|Other||9,763|7,528|
|Total||48+70|40,688|
|Actual return oa plan assets||7,862|(1,287)|





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|outb Yorkshire pension scheme|||
|---|---|---|
|Cbaage in assumption<br>at31March 2021:|Approximate %|Approximate|
||iacrease/(decrease)|monetary|
||to the defined|amount (S'000)|
||benefit obligation||
|0.1%increase in discount rate|(1.9%)|(1,219)|
|0.1%increase in inflation|1.9'/o|1,243|
|0.1%increase in pay growth|0.2%|129|
|1 year increase in life expectancy|2.6%|1,899|



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|Fixed assets|Fixed assets||233|
|---|---|---|---|
|Intangible|assets||2|
|Stock|||1|
|Debtors|||24|
|Cash —clearing accounts|||1|
|Creditors:|Amount|falling due in less than one year|(86)|
|Net Assets|||175|



|||8000|
|---|---|---|
|Debtors||8|
|Cash —clearing accounts||1|
|Creditors: Amount|falling due in less than one year|(15)|
|Net Assets||(6)|



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