COMPANY REGISTRATION NUMBER: 02494406 CHARITY REGISTRATION NUMBER: 702897 Millom Recreation Centre Limited Company Limited by Guarantee Unaudited Financial Statements 31 July 2024 SAINT & CO Chartered accountants 12/13 Church Street Whitehaven Cumbria CA28 7AY
Millom Recreation Centre Limited Company Limited by Guarantee Financial Statements Year ended 31 July 2024 Page Trustees, annual report lincorporating the director's report) Independent examiner's report to the trustees Statement of financial activities lincluding income and expenditure account) Statement of financial position Notes to the financial statements The followlng pages do not form part of the fSnanclal statements Detailed statement of financial activities 21 Notes to the detailed statement of financial activities 23
Millom Recreation Centre Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 July 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited f inancial statements of the charity for the year ended 31 July 2024. Reference and admlnistrative detalls Registered charlty name Millom Recreation Centre Limited Charlty re8iStratlon number 702897 Company regi5trat5on number 02494406 Prlnclpal office and re8lstered office Lantashire Road Millom Cumbria LA18 4BX England The trustees M Giles N Tomlinson IMKirk D Billing (Retired 7 May 20241 Company secretary D E Tyson Independent examlner lan Scott BAlhonsl,FCA,DChA Saint & Co, 12113 Church Street Whitehaven Cumbria CA28 7AY
Millom Recreation Centre Limited Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) {continuedJ Year ended 31 July 2024 Structurei governance and management The Company is a registered Charity limited by guarantee. The Charity was incorporated on 20 April 1990. Risk Management The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks. Key Management Personnel Remuneratlon The trustees consider the Board of Trustees and the manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. The pay of the charity's manager is reviewed and assessed in accordance with average earnings. The remuneration is also bench-marked with charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles. Oblectlves and actlvltles The objectives of the centre are to provide or a5515t in providing facilitie5 for recreation, physical education or other leisure time occupation in or in connection with Millom and its nei8hbourhood. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our f uture activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Achlevements and performance The Chair thanked everyone for their support during the last financial year. There has been a financial improvement this year. If we continue to work together, share the workload and stay positive, we can continue to provide a sport and recreational facility for our communitv. Financlal revlew Following a surplu5 for the year of £2,357 there was a total of £73,350 in net 355ets on the general fund and £15.000 on the restricted fund. Reserves Pollcy It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to about twelve months unrestricted expenditure plus an allowance for any forecast shortfall on project expenditure. This provides sufficient funds to cover management and administration and support costs.
Millom Recreation Centre Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontlnu¢dl Year ended 31 July 2024 Plans for future perlods The Centre will continue to provide services to Millom and the surrounding areas, including gymnastics and activities during school holidays. The Centre will continue to work in a safe and compliant manner, adhering to all He31th and Safety company policies. The year ahead will see a new project to "future proof" Millom Recreation Centre. This will consist of the installation of a climbing wall, an energy survey, establishing a 5UStainable heating source and the resurfacing of the car park, with disabled bays and EV charging points. The Centre will continue its successful Gymnastics Club, a variety of adult exercise classes and provision for local sports clubs and schools. Our school holiday activities will continue, with the help of HAF funding, to provide a free hot meal for those who would normally receive a free school meal. We will continue to work with the Millom Town Deal, in preparation for the new Health and Wellbeing Centre, to work alongside our own well established Centre. Small company prov151ons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 27 May 2025 and signed on behalf of the board of trustees by.. M Giles Trustee
Millom Recreation Centre Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Millom Recreation Centre Limlted Year ended 31 July 2024 report to the trustees on my examination of the financial statements of Millom Recreation Centre Limited I'the charity'l for the year ended 31 July 2024. Responsibllltles and basis of report As the trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Art 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions 8iven by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
Millom Recreation Centre Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Millom Recreation Centre Limited f¢ontlnuedJ Year ended 31 July 2024 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. lan Scott 8Alhonsl,FCA,DChA Saint & Co. Independent Examiner 12113 Church Street Whitehaven Cumbria CA28 7AY
Millom Recreation Centre Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 July 2024 2024 Restricted funds 2023 Unrestricted funds Total funds Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 81 137,502 242 56,999 15,6681 57,080 131,834 242 52,994 115,912 120 Total income 137,825 51,331 189,156 169,026 Expenditure Expenditure on charitable activitie5 139,416 47,383 186,799 216,714 Total expendlture 139,416 47,383 186,799 216,714 Net income/lexpendSturel and net movement in funds 11,5911 3,948 2,357 147,6881 Reconclliatlon of funds Total funds brought forward 74,941 11,052 85,993 133,681 Total funds carrled forward 73,350 15,000 88,350 85,993 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 19 form part of these financlal statements.
Millom Recreation Centre Limited Company Limited by Guarantee Statement of Financial Position 31 July 2024 2024 2023 Note Fixed assets Tangible fixed assets 14 29,648 31,126 Current assets Stocks Debtors Cash at bank and in hand 15 16 1,500 1,537 63,604 1,500 1,502 56,962 66,641 59,964 Creditors: amounts fallSn8 due withln one year 17 7,939 5,097 Net current assets 58,702 54,867 Total assets less current liabllltles 88,350 85,993 Net assets 88,350 85,993 Funds of the charity Restricted funds Unrestricted f unds Is,000 73,350 11,052 74,941 Total charity funds 18 88,350 85,993 For the year ending 31 July 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with sertion 476,. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 9 to 19 form part ofthese financial statements.
Millom Recreation Centre Limited Company Limited by Guarantee Statement of Flnancial Position (tontlmitdj 31 July 2024 These financial statement5 were approved by the board of trustees and authorised for issue on 27 May 2025, and are signed on behalf of the board bv.. G,Igs M Giles Trustee The notes on pages 9 to 19 form part of these financlal statements.
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the re8lStered office is Lancashire Road, Millom, Cumbria, LA18 4BX, England. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 1021 (Charitie5 SORP IFRS 10211 and the Companies Att 2006. Accountlng pollcles Basss of preparatlon The Charity has taken advantage of the exemption in the Financial Reporting Standard No I (revised 19961 from the requirement to produce a cash flow statement on the grounds that it qualifie5 a5 small charity. Goln8 concern There are no material uncertainties about the charity's ability to continue. Dlsclosure exemptions The charity h35 taken advantage of the disclosure exemptions permitted by the Charities SORP 2015 IFRS1021 regarding the inclusion of a Statement of Cash Flows as the Charity is a small charity as defined in Update Bulletin l of the Charities SORP IFRS1021.
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Flnancial Statements fcontinuedj Year ended 31 July 2024 Accounting policies Icontlnuedj Jud8ement5 and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Sl8niflcant judgements The trustees consider there were no significant judgements in preparing the financial statement5. Key sources of estlmatlon uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The trustees consider there are no key sources of estimation uncertaintv. Fund accounting General funds are unrestricted which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated f unds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income and gains are allocated to the appropriate fund. io-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements Icontlnuedj Year ended 31 July 2024 Accounting pollcies icontlnuedj Incoming resource5 All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt 15 probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the c05t to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there 15 a contractual requirement for it to be Spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headin8S that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Costs in respect of charitable activities relate to the operating costs of running the recreation centre. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Tanglble assets All fixed assets are initially recorded at cost. Depreclatlon Depreciation is calculated so as to write off the c05t or valuation of an asset. les5 Its residual value, over the useful economic life of that asset a5 follows.. Fixtures and f ittings Equipment 15% reducing balance 20% reducing balance li-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements {contlntsedJ Year ended 31 July 2024 Accountlng policies icontlnuedj Impalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for Possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating Ljnit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that include5 the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the ca5h-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other cost5 incurred in bringing the stock to its present location and condition. FlnancSal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in share5 are publicly traded or their fair value can otherwise be measured reliably, the investment 15 subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. -12-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 Accounting pollcSes (¢ontlnuedJ Flnanclal Instruments (¢ontlnu¢dJ Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are Subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging in5trument5 in a designated hedging relationship. Financial assets that are measured at C05t or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objertive evidence of impairment, an Impairment loss is recogni5ed under the appropriate heading in the statement of financial activities in which the initial gain was reco8nised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been reco8nised. Llmlted by guarantee Every member undertakes, if the company is dissolved while he or she is a member or within 12 months after he or she ceases to be a member, to contribute such sum Inot exceeding £1) as may be deemed of him or her towards the payment of the debts and liabilities of the company incurred before he or she ceases to be a member, and of the cost5, charges and expenses of winding up, and the adjustment of the rights and of the contributories among themselves. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donations General grants and donations Copeland borough council - service level agreement 81 41,999 15,000 42,080 15,000 81 56,999 57,080 -13-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements (Contlnuedl Year ended 31 July 2024 Donations and legacies Icontlnu¢dl Unrestricted Funds Restricted Total Fund5 Funds 2023 Donations General grants and donations Copeland borough council service level agreement 12,456 25,539 15,000 37,994 15,000 12,456 40,539 52,994 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 Hire of hall Gym hire Sijn bed hire Refreshments Spinning Clothing Gymnastic fees Fitness classes Equipment hire and other sales 35,237 4,422 15,6681 29,569 4,422 2,527 842 3,535 79,587 10,761 586 2,527 3,535 79,587 10,761 586 137,502 15,6681 131,834 Unrestricted Funds Restricted Total Funds Funds 2023 Hire of hall Gym hire Sun bed hire Refreshments Spinning Clothing Gymnastic fees Fitness classes Equipment hire and other sales 25.352 2.762 25 2,371 1,347 12,598 61,476 8,965 2,538 11,5221 23,830 2,762 25 2,371 1,347 12,598 61,476 8,965 2,538 117,434 11.5221 115,912 -14-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statementslcontinuedj Year ended 31 July 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Building society interest receivable 242 242 120 120 Expendlture on charltable actlvltles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable activities Support costs 135,050 4,366 47,383 182,432 4,367 139,416 47,383 186,799 Unrestricted Funds Restricted Total Funds Funds 2023 Charitable activities Support costs 163,731 3,434 49,550 213,279 3,435 167,165 49,550 216,714 Expendlture on charltable actlvltle5 by artivlty type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable activities Governance costs 182,432 182,432 4,367 213,279 3,435 4,367 182,432 4,367 186,799 216,714 10. Net Incomellexpenditure) Net income/lexpenditurel 15 stated after char8ingllcreditingl: 2024 2023 Depreciation of tangible fixed assets 7,364 7.730 -15-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 July 2024 11. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financi31 statements 4,366 3,432 12. Staff costs The total staff costs and employee benefits for the reporting period Bre analysed as follows: 2024 2023 Wages and salaries 74,073 75,482 The average head count of employees during the year was Nil 12023.. 81. The average number of full-time equivalent employees during the year 15 analysed as follows.. 2024 No. 2023 No. Number of administrative staff Number of management staff No employee received employee benefits of more than £60,000 during the year12023'. Nill. 13. Trustee remuneration and expen5e$ During the year Mr l Kirk la trustee) received £18,752 12023.. £20,749) for services provided to the charity relating to gym sessions for the charity's beneficiaries. The amount charged were at an arm's length. Mr l Kirk resigned as a trustee on 7th May 2024. No remuneration or other benefits from employment with the charity or a related entity were received by any other trustee. 16-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statementslcontlnuedl Year ended 31 July 2024 14. Tangible fixed assets Fixtures and fittings Equiprnent Total Cost At l August 2023 Additions 8,406 103,157 5,886 111,563 5,886 At 31 July 2024 8,406 109,043 117,449 Depreclation At l August 2023 Charge for the year 7,675 iio 72,762 7,254 80,437 7,364 At 31 July 2024 7,785 80,016 87,801 CarrySn8 amount At 31 July 2024 621 29,027 29,648 At 31July 2023 731 30,395 31,126 15. Stocks 2024 2023 Raw materials and consumables I,soo 1,500 16. Debtors 2024 2023 Prepayments and accrued income 1,537 1,502 17. Creditors: amounts falling due wlthln one year 2024 2023 Accruals and deferred income Social security and other taxes 7,921 18 3,977 1,120 7,939 5,097 -17-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Flnancial Statements (contlnuedl Year ended 31 July 2024 18. Analysis of charitable funds Unrestrirted funds At l August 2023 At Income Expenditure 31 July 2024 General fund5 74,941 137,825 1139,4161 73,350 At l August 2022 At Income Expenditure 31 July 2023 General funds 112,096 130,010 1167,1651 74,941 Restrirted funds At l August 2023 At Income Expenditure 31 July 2024 Restricted Fund - HAF Funding 11,052 51,331 147,3831 15,000 At l August 2022 At Income Expenditure 31 July 2023 Restricted Fund- HAF Funding 21,585 39,017 149,5501 11,052 -18-
Millom Recreation Centre Limited Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 July 2024 19. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year 29,648 51,641 17,9391 29,648 66,641 17,9391 15,000 Net assets 73,350 15,000 88,350 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed a55ets Current assets Creditors less than l year 31,126 48,912 15,0971 31,126 59,964 15,0971 11,052 Net assets 74,941 11,052 85,993 19-