VALLEY LEISURE LIMITED
(A company Ilmlted by guarantaa}
THE REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Company Reglatared numbor.. 02188010
Charfty Roglstored numbor: 800760

VALLEY LEISURE LIMITED
<A company limlted by guarantee)
THE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS
Pages
Report of the Trustees
Auditors. report
12-14
statement of financial activities
15-16
Balance sheet
17
Cash tlow ststement
18
Notes to the financial statements
19-31

VALLEY LEISURE LIMITED
(A company Ilmlted by guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present their annual directors, report together with the financial statements of the charity for
the year ending 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for
Companies Act purposes.
The financial staternents comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of
Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective 1 January 2019).
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company number
02188010 (England and Wales)
Registered Charlty number
800760
Reglstorod offlce
Wilsons {Company Secretaries) Ltd
Alexandra House
Sl Johns Street
Salisbury, Wiltshire SP12SB
Principal Placo of Business
Riverside Bowl
2nd Floor
22-30 Bridge Street
Andover, Hampshire SP10 1 BN
Dlrector8 and trusteos
The directors of the charitable company {the charity) are its trustees for the purpose of charity law.
The trustees and officers serving during the year and since the year end were as foSlows, except where indicated:
Kèy managemant parsonnel Valley Lelgure Limited:
Trustees, and Director8
Gavin Alan Scott Duncan {Acting Chairman from 17 August 2024)
Peter Jame5 Horne (Acting Chairman until 16 August 2024, resigned 16 August 2024)
Elizabeth Mary Strutt (resigned 4 September 2023)
Anya Higgins
Adam Poulter
Ranga Mugabe
Chlef Exocutlve
Chris Attrill
cattrill@valleyleisure.com
Company Secretary
Wilsons {Company Secretaries) Ltd
Alexandra House
St Johns Street
Salisbury, Wiltshire SP12SB

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continu￿)
FOR THE YEAR ENDED 31 MARCH 2024
1. REFERENCE AND ADMINISTRATIVE DETAILS (continued)
Kèy management personnel at date of approval of accounts:
Senior managers of Valley Leisure Limited:
Chief Executive - Chris Attrill
Finance Manager- Barry Kermode
Partnerships Development Manager - Liz Murray
Audltors
Knight Goodhead Limited
7 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire S053 3DA
Solicitors
Wilsons Solicitors LLP
Alexandra House
St Johns Street
Salisbury
Wiltshire
SP12SB
Prlncipal Bankor8
Lloyds Bank plc
22 High Street
Andover
Hampshire
SP10 2NW
Other Bankers
Barclays Bank plc
5 High Street
Andover
Hampshire
SP10 1NU
Investment Portfolio Managers
Ruffer LLP
80 Victoria Street
London
SW1 E 5JL

VALLEY LEISURE LIMITED
(A company limited by guarante8)
REPORT OF THE TRUSTEES (contlnued)
FOR THE YEAR ENDED 31 MARCH 2024
2. AIMS, OBJECTIVES AND STRATEGIES
Our Aims
Valley Leisure Limited ( VLL"), charitable objectives are to:
a) provide or assist in providing, operating, or managing facilities for recreation and other leisure-time
occupation in the interests of social welfare with the object of improving the conditions of life for the
general public.,
b) advance haalth for the public benefit by the promotion of rehabilitative exercise and therapy programmes.,
and
c) advance education for the public benefit by, in particular (but not by way of limitation) the promotion of
the arts including theatre, music, dance and visual arts.
VISION
To be a major contributor in our community to residents, health and wellbeing. Meaning we ensure people Move More and
Feel Better
MISSION
To be a major contributor to our beneficiaries, health and wellbeing.
The charity achieves its core mission through three service delivery brands:
RSverside Bowl is an exciting family orientated leisure entertainment venue in Andover. Hampshire. Accompanying the 8-
lane ten-pin bowling facility is a unique indoor Glo-Golf experience, pool table, AR darts and arcade games. A seasonal
ten-pin bowling league runs from Riverside Bowl. With the local community at the heart of Valley Leisure Ltd's ethos, two
community rooms are available for local groups and clubs to hire.
I Can Therapy Centre is a unique and innovative exercise and socially interactive community wellbeing facility and service.
Offering a circuit of specially adapted power assisted exercise equipment and progressive condition specific group exercise
classes, the '1 Can, concept enables people to improve their health and wellbeing and feel better by moving more. '1 Can,
is ideal for those who may be older, inactive, deconditioned or managing one or more long-term health conditions.
I Can Connoct offers an alternate approach to better health and wellbeing. Our online platform is available to all abilities,
with a warm and friendly community at your fingertips. Packed full of guided activities, tips and professional support, all in
the name of empowering you to move more. We want our communily to feel confident and in control of their health.
VALUES
A creative provider of unique and innovative services to engage and enthuse people of all ages to move more.
A reputable employer harnessing and developing the passion and skills of talented individuals.
A successful fundraising organisation enabling the ongoing development of local facilities and services.
A dedicated partnership builder forging strong and lasting working relalionships with likeminded groups and
organisation.

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
2.AIMS, OBJECTIVES AND STRATEGIES (continued)
The charity seeks to engage with people of all ages and physical abilities to promote active lifestyles in furtherance of the
public benefit. Our Riverside Bowl facility has proved to be a popular and much needed service. Bowling and glo golf form
the core mechanism to engage the community in the interests of social welfare with the object of improving the conditions
of life for the public. This key initiative has enabled the charity to expand its reach with a specific focus on community
engagement in furtherance of the charity's objectives.
Our I Can Therapy centre combines the scientrfic knowledge and expertise of an exercise therapist with a comrnunity based
rehabilitation facility for the benefit of those with health conditions and also those looking to mobilise and feel better.
The '1 Can, Therapy Centre will enable users to move more and to feel better - physically, mentally and socially. With a
unique support system in place, from Centre Manager, Exercise Therapist, Circuit Coordinators and a team of volunteer's
'1 Can, Activity Buddies, users of the '1 Can, Therapy Centre are encouraged and enabled to move more in a warm,
welcoming, safe and supported environment,
The overall alm of the '1 Can, Therapy Cenlre will enable people to move as well as possible for as long as possible and
feel as good as possible.
A development of our I Can service brand, I Can Connect aims to remove both the geographical and financial barrlers
people may face when considering where and how they engage with a service in the pursuit of moving more than they are
currently. An online based platform means that we can expand the communities we serve, beyond that focused on Andover
and surrounding areas. The subscription-based service also provides a lower price point to entry and flexibility that we
haven't been able to provide previously.
The charity has a strong ethos of community engagement having developed links within excess of 150 local community
organisations.
Our Objectlve8
With our vision being, to be a major contributor in our community to residents, health and wellbeing. Meaning we ensure
people Move More and Feel Belter.
Our objectives are set lo reflecl our aims and ethos with operational safety being the priority whatever the financial or olher
pressures. Our resources come from fees and charges paid by the public supported by various locally based fund raising
initiatives.
The overriding aim of our business plannlng is to align financial and strategic objectives to underpin key elements of our
strategy to..
Secure VLL'S long term future
Develop VLL along commercial lines to meet our social objectives
Our Strategies
VLL is operated as a social enterprise and the Trustees are responsible for setting a stralegy for achieving both social and
commercial outcomes. As part of our community engagement and commitment to getting as many people as possible to
move more and feel better, we have focused on providing an excellent and expanded range of services to engage with the
widest cross seclion of the communities we serve.
Volunteers
VLL Trustees all provide their services on a voluntary basis. In addition, with the launch of the '1 Can, Therapy Centre we
have taken the opportunity to introduce a group of volunteer"Activity Buddies. who provide support and encouragement to
the users of the Therapy Centre.

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
3.STRATEGIC REPORT
ACHIEVEMENTS AND PERFORMANCE
Buslness Raview
VLL is a registered charity governed by a Board of Trustees who are also directors of the charity for purposes of the
Companies Act 2006. The charity's aim is to be a major contributor within the community to resident's health and wellbeing.
All trading revenue is utilised to operate the charity with any surpluses reinvested into the facilities and services to achieve
the charity's aim.
Details of the results for the year ended 31 March 2024 are set out in the Statement of Financial Activities on page 15 and
for the previous financial year on page 16 of the accounts.
Financial Performance Koy Indlcators
The company's total funds as at 31 March 2024 were £511 K, down from £665K in the previous financial year.
The company has no gains or losses other than those disclosed on page 15 (2023 - page 16). During the year, total
incoming resources were £847k, up from £733k in the previous financial year. The rnaiority of this income coming from
operating activilies, supported by some grant funding. Other KPIS are noted on page 7.
Princlpal Rl8ks or Uncertaintle8
The risks and uncertainties faced by the charity are regularly reviewed by senior management. They are formally reviewed
with the Trustee5 as part of the Risk Register Review process which identifies the primary risks faced together with agreed
actions and initiatives to mitigate those risks where possible.
The risks and uncertainties faced by the charity are those inherent with the charity sector but are primarily:
Stralegic risk
failure to identify a suilable strategy that takes into account the emerging threats and
opportunities for the charity as our communities continue to evolve
incurring losses as a result of inadequate or failed internal and external processes, systems
and human error or from external events
fallure to comply with relevant regulations and procedures, for example health and safety
Operational risk
Regulatory risk
People risk
failure to invest in ensuring VLL has a well-trained, competent and motivated workfor
Financial risk
failure to seize emerging opportunities to ensure the financial success of the charity
underpinned by a robust reserves policy.
Financlal Effects of Significant Evonts
The increase in the cost of living has inevitably impacted our Charity to an extent. Primarily, this impacts our customer
bases disposable income. Rising costs for everyday products, energy and fuel combined with higher interest rates, meant
the general public's money was seemingly worth less.
In attempt lo counter this, we focused on service, cost control and our price points. The Charity also felt Ihe pressure of
inflation and the cost of living, and subsequently ensured its salaries and pay rates were competitive and did as much as
we could to retain a stable team to deliver the services we offer.

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31st MARCH 2024
4.PUBLIC BENEFIT
In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity
Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on fee
charging.
VLL contributes to the reduction of health inequality. As and when the Governments restrictions and policy has allowed,
we have continued to deliver many of the seniices. At Riverside Bowl, our Bowling Goldie's programme provides subsidised
access lo senior citizens, encouraging them to stay active in a fun and informal environment
a key aspect of this
programme provides for a much-needed social environment and plays a role in combatting loneliness, which can be an
issue for that demographic. The sessions are hosled twice a week and participants can enjoy something to eat and a
regular quiz as part of the event. We also organise a school sufflmer activity programme, providing opporlunities for
disadvantagedlvulnerable families to have access to a range of fun activities both within the school setting and at our
Riverside Bowl facility- Alongside the above initiatives we offer complimentary access lo regislered community groups to
our communily rooms. The purpose-built rooms provide an ideal meeting space within a convenient town centre location.
The access to meeting rooms can be of benefit to small local community groups freeing up much needed funds to focus
on delivery of their core aims.
The '1 Can brand, which first launched as the Therapy Centre is our flagship initiative aimed at encouraging people to rnove
more and thus feel better. This service has a primary focus on the following groups..
Older people
Disabled people
People managing long term conditions, for example, MS and Parkinson's and those post Stroke
Those requiring rehabilitation following serious illness or injury
Helping improve pre-operalive wellbeing of those about to have major surgery to aid post-operative recovery
An important aspect of the service is to create welcoming environments, encouraging social interaction and thus playing a
crucial role in combating loneliness and aiding menlal wellbeing. We have expanded our group exercise programme as
part of the I Can philosophy wilh the aim of providing an extensive range of complemeniary options lo Ihe core offering of
power assisted exercise machines.
This year we completed our Impact report for the I Can Therapy Centre. The report demonstrates the impact the service Is
having within our local community. It brings to lrfe how the carefully planned cuslomer journey provides the evidence base
through key measurements at the 1st and review assessments. The service can evidence that it is positively impacling
functional movement when comparing the customers abilities from the 181 assessment and then 6 monlhs on at their review.
It confirms thal we are bucking the upward trend of inaclive older adults, enabling people to take control of their health,
empowering them with hope for their futures, using the posilive power of movement. Our impact is clear to see and we are
helping to prevent dependency, slowing down the effects ageing, helping people remain independenl, living the lives they
want to for as long as they can.
I Can Connect is the second service brand of I Can. Connect has been created to diversify the delivery mechanisms of the
Charity. It is a unique offer that Is aimed at a different target audience than the Therapy centre serves. The service is aimed
at but not limited to those age 50+ and for those that are not reaching the Chief Medical Officer's guidelines of 150 minutes
of activity a week. Taking a personalised approach, the platform aims to tackle inactivity, whilst also ensuring that through
the resour￿ of an I Can Connect Coach, there is a Significant social element to the platform.
Tracking and monitoring is supported by goals setting and reviews meetings. In pursuit of getting people over a 4 month
period to adopt and change behaviours that means they move more than they were, they establish activity and movement
as part of their everyday life and that from having done this they have more positive attitude toward their wellbeing. This
service empowers people through support and guidance and exercise to change how they spend the later years of life. The
ambition 15 to support being living better for longer, meaning relian￿ upon health and social care is lessened and or
required later in life.

VALLEY LEISURE LIMITED
(A company limited by guarant•o)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
S.FINANCIAL REVIEW
Our Achievements
Customer Feedback
The Trustees place a high priority on customer feedback through targeted customer forums, user surveys, complaints and
complements systems, and other media.
At Riverside Bowl we use the most popular methods for reviewing FEC'S which tends to be Google and social media
reviews. In the year we had the target of maintaining or improving our slar rating from the previous year. At the I Can
Therapy Centre we utilise the Nel Promoter Score ("NPS") con￿p1 as one of the key measurements of customer
satisfaction. Riverside Bowl maintained its average of 4.2 out of 5. 1 Can returned a NPS score of 85, which is signrficantly
above the industry average of 44.
Vlslt Number8
During the course of the year we welcorned over 86,055 visits to the centres.
Health and Safety
No major accidents were recorded. It is the Trustees, policy to always report accidents and there were no RIDDOR reported
accidents in 2023124,. that is accidents reportable to the Health and Safety Executive where any person not al work, as a
result of a work-related accident, suffers an injury, and that person is taken from the site of the accident to a hospital for
treatment in respect of that injury.
As part of VLL'S commitment to excellence in & Safety, we retain the services of an independent Heallh & Safety Advisor
providing external challenge and validation lo our practices and procedures.
Flnancial Performance
Despite the general economic challenges, the Charity had a good trading year. Indeed, compared lo the previous year and
other trading years, income of £845k is the highest income we have generated since exiting the contract. Both of the
service brands recorded their highest footfall, signalling that the I Can is continuing to be a major contributor towards
our community's health and wellbeing, This also shows Ihat the investment made into the Riverside Bowl's pins on string
enabled us to provide better and more reliable activities. The more recent investment into socially competitive activities
is also proving to be a good decision its income is increasing as an overall percentage of income. Overall, the loss for
the year is greater than what we had budgeted for. This is not because of poor operaling income, but a combination of
o factors. A disappointing loss from the Investment porffolio of circ8 £38k for the year. The second being our I Can
Connect platform not generating the income we had anticipated. Within this year we had budgeted a loss for I Can
Connect. As it was the first year of operating, we had anticipaled a steady income growth, even if we had achieved the
income. it would not provide a positive return within the year, and we had budgeted a loss of 95K for I Can Connect. It
made a loss of 106K. This contributes significantly to the overall loss made within the financial year.
Environmental Inltlatlvès
It is the Trustees, policy to reduce as far as practical the 'carbon footprint, and carbon dioxide emissions associated with
operation of the facilities. We continue to invest in LED technology wherever economically viable. This year we have
concentrated on being responsible for the use as far as possible of biodegradable and disposable products. This includes
at our I Can Therapy centre removing single use cleaning products in favour of reusable and more environmenlally friendly
products. We have been consciously using video conferencing in place of face-to-face meetings. We have also looked to
reduce our prinl marketing in favour of digital and videos.

VALLEY LEISURE LIMITED
(A company Ilmltad by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
6. PLANS FOR THE FUTURE
The strategy of the charity is to develop a range of complimentary services which will help to keep people mobile across all
age groups- from activities for young people in fun settings through to providing settings to combat loneliness in the elderly
whilst promoting physical and mental wellbeing.
We have made significant progress in engaging with the communities we serve. We play an important role in encouraging
healthy, active lifestyles and the Partnership Development role provides a natural and core focus for our engagement with
the community and is aligned to national, regional and local demographic and health data. Our approach recognises and
supporls the excellent work of other groups who are our local partners and stakeholders.
The next five years will provide the charity with an opportunity to explore how the '1 Can, ethos and serwice brand can
translate into other delivery methods. Work is already underway to explore this further and we want to deliver on this
strategic objective in a timely and logical way.
Over the next year we have the opportunity to review Riverside Bowls premises. The lease is due to expire in November
2024 and with the service growing year on year, it is deemed sensible to consider if the current space is adequate to
accommodate the demand for its activities.
We have secured the I Can Therapy Centre Andover in principle, up until March 2027, by signing a new 3 year lease in ils
current location. We feel that we are in a position to comprehensively demonstrate that the I Can service is essential in any
town centre, and that we have an operating and financial model that works from a charitable perspective, with the financial
ambition of breaking even being within striking distance. We therefore intend to explore how, when and where we could
conceivably open a 2nd centre.
The Trustees are confident that, with our revised strategy and financial reserves, VLL is well placed to continue to prosper
and deliver on our charitable objectives.
7. STRUCTURE, GOVERNANCE AND MANAGEMENT
Our Structure and Governance
The Truslees, who are also the Members of VLL, are responsible for the overall management and control of the Charity
and meet up to 6 times per year. Each Board Meeting is structured to cover 4 discrete areas namely health and safety,
operations, strategy and governance. This provides the Board with the opportunity to regularly assess all areas of Ihe
charity. In particular, the Trustees have extensive experience in the development of slrategy, operational and change
management both in the private and public seclors, customer service, the development of people and in other areas such
as acquisitions and mergers and the health sector.
The Governing Document is the Memorandum and Articles of Association dated 3 November 1987 and last amended by
Special Resolution dated 26th March 2018 following our Strategic Review. All Trustees give their time freely and Clause 4
of the Governing Document states that no Trustee can be paid either salary or fees or receive any remuneralion or other
benefit in money's worth from VLL. Each Truslee has provided a guarantee thal they will contribute £1 to VLL in the evenl
thal it is wound up and all have been insured by VLL in respect of any losses, other than fraud and dishonesty. arising from
any claims made against them by reason of their services as Trustees. Trustees are appointed by the Members at General
Meetings. The Trustees set the policy and principles of VLL'S activities, and the management and staff are responsible for
operations. The division of responsibilities and apportionment of authorilies is made clear in VLL'S 'Goverr)ance Document,
which is subject to periodic review by the Trustees.

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
7. STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Trustea Induction and Training
Trustees are recruited for their business skills and interest in the provision of leisure and wellbeing services and posts are
advertised widely. On becoming a Trustee, individuals undertake a series of site visils to familiarise themselves with VLL'S
operations and facilities. They are directed to read CC3 'The Essential Trustee.. what you need to know,, CC60 'The
Hallmarks of an Effective Charity, and Companies House - 'Directors and Secretaries Guide,. They are given a series of
briefings by the Chairman and Chief Executive appraising them of their responsibilities as trustees, charity law, how VLL is
run and, in particular, on health and safely issues. Individuals are given a pack of key documents including the annual
Business P12n, Marketing Plan, Governance document and lalest Statutory Accounts. Existing Trustees provide their
analysis of the recent corporate history and new Trustees may attend appropriate external training by professional advisers.
It is the Trustees, policy to refresh the Board periodically.
Risk Management
It is the Trustees, general policy to mitigate risk by seeking external professional advice for all matters where the Board of
Trustees has no qualified experience. In addition to legal advice, the Truste8s use key third party advisers for audit, VAT
and Health and Safety. The management of risks is an on-going process which happens as part ofthe day to day operations
and, in addition, the Trustees oversee an annual review of risks that would impact upon VLL achieving its objectives, which
includes input from senior management. A VLL Risk Register and Risk Heat Map is produced and maintained.
The Trustees ensure that the Chief Executive reports regularly on a series of action plans that address amongst other things
the issues identified in the risk management process. Certain issues are encompassed in the annual Business Plan. The
Trustees revisit the Business Plan formally after the Second Quarter results are known when the Chief Executive produces
the Mid-year Review. The Trustees receive financial updates against the plan's forecasts monthly. A disaster recovery
plan is in place and is reviewed periodically.
Our Managament
Chief Executive
A key aspect of this remit is to ensure VLL develops into a leading social enterprise providing a broad range of high-quality
services in keeping with VLL'S charitable objectives. through investment in its people and in new and existing facilities.
Organl8ational Managoment
Senior management are responsible for the day lo day running of VLL and Head Office is located at Riverside Bowl in
Andover. Senior management comprises the Chief Executive. Company Finance Manager and Partnerships Development
Manager.
With regard to recruiting Staff, VLL, under its equal opportunities policy, does not discriminate against job applicants or
employees either directly or indirectly on the grounds of disability. Should an employee become disabled during their
employment. VLL will make all reasonable adjustments and provide training to ensure continued employment where
practicable.

VALLEY LEISURE LIMITED
{A company Ilmlted by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
7. STRUCTURE, MANAGEMENT AND GOVERNANCE (continued)
Pay Policy for Senior Staff
VLL conducts an annual pay review to ensure the business is both efficient and competitive with pay for all areas of the
business. This review also ensures there are no inequalities in respect of gender. Evaluation of pay is carried out in respect
of the job role in line with the Equal Pay Act.
The Company is committed to equality of opportunity and equal pay in accordance with the Equal Opportunities and
Diversity Policy and Procedures. Pay scales and bands have been put in place to allow evaluation of pay in order to control
recruitment difficulties and any equality issues.
Qualrfying Third Party Indemnity Provisions
VLL has made qualifying third party indemnity provisions for the benefit of its Trustees, during the year. These provisions
remain in force at the reporting date.
Inv68tment Policy and Performanc•
Under VLL'S Memorandum and Articles of Association. VLL has the power to invest monies not immediately required for its
purposes in or upon such investments or securities or property as the Trustees see fit and in line with the Board's appetite
for investment risk. During 2023124 VLL'S cash has been maintained in operational interest bearing UK bank accounts. In
addition, Ruffer LLP manages an investment portfolio on behalf of VLL as a means of ensuring the charity's funds are used
to their best advantage. The Trustee's collective attitude to risk is described as cautious. The preference exists for
relatively high security of VLL'S investments accepting that there may be limited growth potenlial.
Reserves Pollcy and Golng Concern
The Trustees have a fully documenled Reserves Policy which is an integral part of VLL'5 annual business plan process.
The policy provides a view of Free Reserves, taking into account..
Restricted Reserves.. these are monies where the donor has specified they be spent on a specific objective and,
as such, Ihey are not freely available to the Truslees.
2. Deslgnat•d Reserves: Ihese are sums that have been earmarked by the Trustees for a particular purpose.
3. Tled Resorv•8.' tied reserves represent the value of fixed assets which are financed by reserves and not some
form of additional financing. As these reserves are 'tied up, in long lerm or'fixed, assets they cannot be readily
realised for the short term financing requirements of VLL and they musl be excluded from the calculation of free
reserves.
4. Frae Reserves.. these are the reserves that VLL believes it requires to have to fund specific short term needs.
5. Ongoing trading volatility.. where the risk of trading losses is borne by the Charity, provision should be made for
potential varialions in trading results taking into account the position in the business cycle e.g. eady days of an
expanded business or a steady state operation. This can either be expressed as a 0/0 of income andlor costs
using recent experience as a guide, as well as the outlook for the Plan period.
10

VALLEY LEISURE LIMITED
(A company limited by guarantee)
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES RESPONSIBILITIES
The Trustees (who are also the directors of Valley Leisure Limited for Ihe purposes of company lawl are responsible for
preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view
of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees
are required to
select suitable accounting policies and then apply them conslstently.,
observe the methods and principles In the Charity SORP,.
make Judgements and estimates that are reasonable and pwdent,.
state whether applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the financial stalements-,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeplng proper accounting records which disclose wlth reasonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial statemenls comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
In so far as the trustees are aware at the time of approving our trustees, annual report..
there is no relevant information, being information needed by the auditor in connection with preparing their
report, of which the auditor is unaware, and
the Irustees, having made enquiries of fellow directors and the auditor that they ought to have individually taken,
have each taken all steps that he/she is obliged to lake as a director in order to make themselves aware of any
relevant audit information and to 8Stablish that the auditor is aware of that information.
10. AUDITORS
Knight Goodhead Limited Is the appointed auditor.
ON BEHALF OF THE BOARD:
GS Duncan
Trustee
Date..

VALLEY LEISURE LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
VALLEY LEISURE LIMITED
Opinion
We have audited the financial statements of Valley Leisure Limited for the year ended 31 March 2024 which comprise the
Statement of Financial Activities including the Income and Expenditure Account, the Balance Sheet, the Cash Flow
Statement and noles to the financial statements, including a summary of significant accounting policies The financial
reporting framework that has been applied in their preparation is applicable law and Unlted Klngdom Accounting Stariddrds
including Financial Reporting Standard 102.. The Financial Reporting Standard applicable to the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practlce. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial
statements section ofour report. We are independent of the charitable company in accordance with the ethical requirements
that are relevant lo our audit of the financial statemenls in the UK, including the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions ralatlng to going concern
In auditing the financial statements, we have concluded that the Irustees, use of the going concern basis of accounling in
the preparation of the financial stalemenls is appropriate.
Based on the work we have performed, we have not identified any material unceriainties relating to events or conditions
that, individually or collectively, may c8St significant doubt on the charilable company's ability to continue as a going concern
for a period of at least 12 months from when the financial siatemenis are authorised for issue.
Our responsibilities and the responsibilities of the trustees wilh respect to going concern a￿ described in the relevant
sections of this report.
Other Informatlon
The other information comprises the information included in the report of the trustees, other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the report of the
trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be
materially misstated. If we identify such material inconsislencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required to report
that fact.
We have nothing to report in this regard.
12

VALLEY LEISURE LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
VALLEY LEISURE LIMITED (continued)
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
The information given in the report of the trustees, which includes the directors, report prepared for the purposes
of company law, for the financial year for which the financial statements are prepared is consistent with the
financial statements., and
the directors, report included within the trustees, report have been prepared in accordance with applicable legal
requirements.
Matter8 on which wa are required to report by axcoption
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit.
we have not identified material misstatements in the directors, report included within the report of the trustees.
We have nothing to report in respect of the following Matters in relation to which the Companies Act 2006 require us to
report lo you if, in our opinion..
adequate and proper accounting records have not been kept, or relurns adequate for our audit have not been
received from branches not visited by us., or
the financial slatemenis are not in agreement wlth the accounting records and returns., or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information 8nd explanalions we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime
and lake advantage of the small companies, exemptions in preparing the trustees, report and from the
requirement to prepare a strategic report.
Re8ponsibilitie8 of the tru8te88
As explained more fully in the trustees, responsibilities set out on page 11, the trustees (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and
for being satisfied that Ihey give a true and fair view, and for such Internal control as the trustees determine is necessary
to enable the preparation of financial stalements that are free from material misstatement, whether due io fraud or error.
In preparing the flnancial statements, the trustees are responsible for assessing the company's ability lo continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless the trustee5 either intend to liquidate the company or to cease operations, or have no realistic alternative but to do
so.
Auditor's responsibllities for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material
rnisstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with
our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The exlent
to which our procedures are capable of detecting irregularities, including fraud is detailed below..
The engagement partner ensured that the engagement team collectively had the appropriale competence, capabilities skills
to identify or recognise non-compliance with applicable laws and regulations.
We identified the laws and regulations applicable to the Charitable company through discussions with Ihe trustees and
other management and we assessed the extent of compliance with the laws and regulations identified above through
making enquiries of management and inspecting legal correspondence.
13

VALLEY LEISURE LIMITED
(A company Ilmlted by guarantee)
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF
VALLEY LEISURE LIMITED (continue
We assessed the susceptibility of the Charitable company's financial statements to material misstatements, including
obtaining an understanding of how fraud might occur, by making enquiries of managernent as to where they considered
there was susceptibility to fraud. their knowledge of actual, suspected and alleged fraud and considering the internal
ontrols in place to mitigate risks of fraud and non-compliance with lay￿ and regulations.
To address the risk of fraud through management bias and override of controls, we performed analytical procedures to
identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and investigated
the rationale behind signrficant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which
included, but were not limited to..
agreeing financial statements disclosures to underlying supporting documentation-
reading the minutes of meetings of those charged with governance,. and
enquiring of management as to actual and potential litigation and claims.,
There are inherent limitations in our audit procedures described above. The more removed laws and regulations are from
financial transactions, the less likely It is that we would become aware of non-compliance. Auditing standards also limit the
audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other
management and inspection of regulatory and legal correspondence, if any.
Material misstatement that arise due to fraud can be harder to detect than those that arise from error as they may involve
deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
www.frc.org.uklauditorsresponsibilities.
This description forms part of our auditor's report.
Us• of our report
This report is made solely to the charilable company's members, as a body, in accordance with Chapler 3 of Part 16 of
the Companies Acl 2006. Our audit work has been undertaken so that we might state to the charitable company's
members those mailers we are required to stale to them in an auditor's reporl and for no other purpose. To the fullest
extent permitted by law, we do not accepi or assume responsibility to anyone other than the charitable cornpany and the
charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
CJ GOODHEAD FCA
Senior Statutory Auditor
For and on behalf of:
Knlght Goodhead Limited
Statulory Auditor and
Chartered Accountants
7 Bournemouth Rosd
Chandler's Ford
Easlleigh
Hampshire. S053 3DA
14

VALLEY LEISURE LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrictsd
Restrlcted
Total Funds
funds
funds
2024
Note
INCOME FROM
Charitable activities..
Recreational activities
839,749
7,453
839,749
7,453
Investment income
Total Income
847,202
847,202
EXPENDITURE ON
Expenditure on charitable 8Ctivities:
Recreational activities
948,857
14,712
963,369
Total oxpondllur
948,657
14,712
963,369
Net {expondltureyln¢omo for year
101,455
14,712
116,167
Unr88118ed and ￿alIsed net Ioss88 on
fixed asset investm8nts
38,124
38,124
Nat movement In funds
{139,5791
114,7121
{154,291)
TOTAL FUNDS BROUGHT FORWARD
16
623,921
41,181
665,102
TOTAL FUNDS CARRIED FORWARD
16
484,342
26,469
510,811
The statement of financial activities includes all galns and losses recognised In the year.
All income and expendlture derive from continuing activities.
The notes on pages 19 to 31 form part of these financial statements.
15

VALLEY LEISURE LIMITED
(A company limlted by guarantea)
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023
Unrèstricted
funds
Re8tricted
fund8
Total Funds
2023
Note
INCOME FROM
Charitable activities..
Recreational activities
Investment income
716,845
10,827
5,111
721,956
10,827
732,783
Total income
727,672
5,111
EXPENDITURE ON
Expenditure on charitable activities..
Recreational activltles
793,687
30.062
823,749
Total expenditur•
793,687
30,062
823,749
Net (•xpendlture)Ilncomo for year
66,015
24,951
90,966
Unrealised and realised net gains on
fixed asset investments
11,721
Not movement In funds
(77,736>
124,951)
{102,687)
TOTAL FUNDS BROUGHT
FORWARD
TOTAL FUNDS CARRIED
FORWARD
701,657
66,132
16
767,789
16
623,921
41,181
665,102
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 19 to 31 form part of Ihese financial statements.
16

VALLEY LEISURE LIMITED
(A company limited by guarantee)
Company Registered Number 02188010
Charity Registered Number 800760
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investments
10
178,228
318,194
230,023
448,868
496,422
678,891
CURRENT ASSETS
Stocks
Debtors amounts falling due within one year
Cash at bank
9,542
25,110
119.806
5,253
27,846
75,680
12
154,458
108,779
LIABILITIES
CREDITORS: Amounts falling due within one year
13
{140,069)
(122,568)
NET CURRENT ASSETS
14,389
(13,789)
TOTAL ASSETS LESS CURRENT LIABILITIES
15
510,811
665,102
THE FUNDS OF THE CHARITY
Unrestricted income funds
Restricted income funds
16
484,342
26,469
623,921
41.181
TOTAL CHARITY FUNDS
16
510,811
665,102
The financial statements were approved by the Board of Trustees on..
its behalf by..
nd were signed on
GS Duncan
The notes on pages 19 to 31 form part of these financial statements.

VALLEY LEISURE LIMITED
(A company limited by guarantee)
STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 MARCH 2024
Notes
2024
2023
Cash from operating activities
Cash generated from operations
19
(39,690)
14,442
Net cash provlded in op•rating actlvities
(39,690)
14,442
Cash flow3 from Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of other investments
Interest received
Net cash used in investing actlviti•s
{16,188)
100.000
{114,519)
13
(114.506)
83.816
(D•crease}lincrea80 in cash and cash èqulvalents in
th• reporting year
44.126
(100,064)
Cash and cash equivalonts at the beginning of year
75,680
175,744
Cash and cash oqulvalents at the ond of yoar
119,806
75,680
Relating to:
Cash at bank and in hand
119,806
75.680
119,806
75,680
The notes on pages 19 to 31 form part of these financial staternents.
18

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Accounting convention
The principal accounting policies adopted. judgements and key sources of estimation Un￿rtaIntY in the
preparation of the financial statements are as follows..
Basis of preparatlon
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January
2019) - (Charities SORP (FRS 102>>, the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) and the Companies Act 2006.
Valley Leisure Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value, with the exception of investments which are induded
at market value.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounis in these financial statements are rounded to the nearest £1,
The charity's buslness address is located at two premises,.
1) the Riverside Bowl, 22-30 Bridge Street, Andover,
2) the l - Can Therapy Centre, 8- 10 Union Street, Andover.
Consolidation
The financial statements present information about the charitable company as an individual undertaking and
not about its group. Ils subsidiary undertaking can be excluded from consolidation under section 405 of the
Companies Act 2006 and therefore the charitable company has taken advantage of Ihe exempiions provided
by section 402 of the Companies Act 2006 not to prepare group accounts.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
Income
Incoming resources represents the amount receivable by Valley Leisure Limited for goods and services
provided in the normal course of business excluding Value Added Tax where appropriate and adjusted for
deferred income.
Grant income is also received and this is recognised where entitled, probable and when it can be reliably
measured. Such income is only deferred when the donor specifies that the grant or donation musl only be
used in future accounting periods or the donor has imposed conditions that must be met before the charity
has unconditional entitlement.
All income was generated in the UK.
Investment income
Investment income is earned from holding assets for investment purposes and includes dividends and interest
and is recognised on a receivables basis.
19

VALLEY LEISURE LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
Allocatlon of 8UPPOrt costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Support costs include back office costs, finance, personnel. payroll and governance costs which
5UPPOrt the charities activities. The bases on which support costs have been allocated are set out in note 5.
Exponditure and irrecov•rable VAT
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs to the category. Where costs cannot be directly attributed to particular headings, they have been
allocated to activities on a basis consistent with the use of the resources.
Charitable activities include expenditure associated with running of the Riverside Bowl and l-can
Therapy Centre and include both the direct costs and support costs relating to these activities.
Raising funds includes expenditure on investment management costs.
Other expenditure represents those items not falling into any olher headline.
Irrecoverable VAT is charged as a cost against the actlvity for which the expenditure was Incurred.
Tangible fixod assets
Tangible fixed assets are stated at cost less accumulated depreciation. Individual fixed assets costing £500
or more are capitalised.
Depr•ciatlon
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over
the useful economic life of that asset as follows:
Office equipment
over expected useful life of the asset (5-8 years)
Investments
Listed investments are recognised at fair value at the balance sheet date. This gives rise to unrealised gains
and losses at the end of the financial year which are included in the Statement of Financial Activities.
Realised gains and losses are separately identified in the Statement of Financial Activities and are calculated
as the difference between valuation at the beginning of the financial year, or the cost of purchase during the
year, and the subsequent sale proceeds.
other fixed asset investments are stated at cost, being purchase price. less any permanent diminution in
value.
Stocks
Stocks are v8lued at the lower of cost and net realisable value. after making due allowance for obsolete and
slow moving iterns.
20

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
Dabtor8
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due lo setlle the obligation can be
measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing
for any trade discounts due.
Financlal In8truments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.
Llquid resources
Liquid resources include current asset investments, being monies held in fixed term deposit accounts.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set
aside to use for a specific purpose.
Restricted funds can only be used for particular restrlcted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the note 16.
Operating Ipase agreementg
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with
the lessor are charged against irscome on a straight line basis over the period of the lease.
Classification of leases
In categorising leases as finance leases or operating leases, managemenl makes judgements as to whether
significant risks and rewards of ownership have transferred lo Valley Leisure Limited.
Legal status of the Trust
The charity is a company limited by guarantee and has no share capital. In the event of the charity being
wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. As at 31 March
2024 there were 5 members (2023.. 5 members).
21

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHARITABLE ACTIVITIES
2024
2023
Recreational activity..
Fitness
Children's Activities
Grants and donations
Catering
Wellbeing
Resales & sundry Income
Bowling
10,559
30.287
8,429
127,265
93,147
13,871
556.191
6,207
28,375
10,018
98.553
83,256
11,413
484,134
Total Income from charltable actlvltle8
839,749
721,956
Grants received, included in the above, are as follows.,
2024
2023
RestrlGtad Funds
Donations received towards I Can Centre equipment
TVBC related grants
3,611
1,500
Unrestricted Fund8
Other Donations
8,429
4.907
8,429
10.018
Explanation of grants are on note 16.
INVESTMENT INCOME
2024
2023
Bank interest receivable
Dividends from listed investments
13
10,814
7,449
7,453
10,827
22

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHARITABLE ACTIVITIES
Direct staff Support costs
costs
(se• note 5)
2024
Totals
Recreational activities
473,637
489,732
963,369
Direct staff Support costs
costs
(so• noto 5)
2023
Totals
Recreational activities
399.108
424,641
823,749
ANALYSIS OF SUPPORT COSTS
E8tabli8hment Establishment
and
and
administration admlnlstration
2024
2023
Recreational activities
489.732
424,641
Support costs comprise establishment and administration expenses which can be analysed as follows..
2024
Recreatlonal
Activitles
2023
R•cr•atlonal
Activiti08
Premises and dilapidations
Marketing and sales promotlon
Equipment
Administration
Food and drink
Finance costs and irrecoverable VAT
I Can & Riverside Bowl refurbishment
Governan￿ costs (see page 24)
106,796
46,355
87,679
132,860
47,846
55.402
119,201
21,427
96,135
96,345
37,668
34,892
214
18,759
12.794
489.732
424,641
23

VALLEY LEISURE LIMITED
{A company limited by guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ANALYSIS OF SUPPORT COSTS (continued)
Governance costs include those incurred in the governance of the charity and its assets and are primarily
associated with constitutional and statutory requirements.
Governance costs consist of the following:
2024
2023
Legal and professional fees
Auditors, remuneration
7,244
5,550
13.759
5,000
12,794
18,759
6 NET {EXPENDITURE) / INCOME FOR YEAR
This is stated after charging:
2024
2023
Depreciation - owned assets
Staff pension contributions
Operating leases
Auditors, remuneration
67,983
12,136
4,842
5,550
79,141
10,853
6.464
5,000
7 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY
MANAGEMENT PERSONNEL
The charily trustees were not paid or received any benefits from employment with the charity in the year (2023
£nil). Neilher were they reimbursed expenses during the year (2023 £nil). No charity trustee received payment
for professional or other seNices supplied to the charily (2023 - £nil).
Trusta•s' axponses
During the year the charity paid for directors and trustees insurance amounting to £447 (2023- £1,156).
Remuneration of key management personnel
The remuneration of key management personnel, the Senior Management Team, Is as follows:
2024
2023
Aggregate payroll remuneration
154,432
125.371
24

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
8 STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Pension costs and current service costs
430,718
29,922
12.997
357,915
30,340
10.853
473.637
399,108
The average monthly number of employees during the year was as follows:
2024
No.
2023
No.
Senior management
Other management
Customer service assistants
I Can Therapy Centre
I Can Connect
Technicians
Administration
14
29
22
The above figure includes 6 {2023'. 6) full-time employees and 23 {2023.' 16) part time employees.
One employee received emoluments between £60,000 and £70,000 during the current year {2023.' None).
Staff have access to a defined contribution pension scheme and the workplace NEST pension scheme.
9 TAXATION
The charity 13 exempt from tsx on income and gains falling within section 505 of the Taxes Act 1988 and section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
25

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10 TANGIBLE FIXED ASSETS
Plant and
Machlnery
Cost
At 1 April 2023
Additions
626,775
16,188
At 31 March 2024
642,963
Depreclation
At 1 April 2023
Charge for the year
396,752
67,983
At 31 March 2024
464,735
Nèt book valu•
At 31 March 2024
178,228
At 31 March 2023
230,023
26

VALLEY LEISURE LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11 FIXED ASSET INVESTMENTS
Subsidiary
undertakings
Llsted
investments
Total
Market Value of
Investments as at 1 April 2023
Disposals
Dividends
Unrealised gains l (losses)
448,867
(100,000>
7,449
(38,123)
448,868
(100,000)
7,449
(38,123)
Total flxed ass•t investment a8 at 31
March 2024
318,193
318,194
The investment is manged by Ruffer LLP. In line with board appetite, their approach is a low risk. In this year,
the portfolio did not perform as anticipated. Ruffer's ambltlon of not losing money over a 12-month period and
providing a better return Ihan cash in the bank did not come to fruition. Mainly this has been due to the
construction of the protection side of the portfolio not being needed in a way that was forecast. This was
combined with growlh side of the portfolio not yielding the resulls required to compensate. Since its inception,
VLL has benefited from 4.30/0 annualised return. We continue to monitor its performance on a regular basis.
The charitable company holds 1000/0 of the ordinary share capital of Valley Health and Leisure Limited which is
a cornpany registered In England and Wales and remained dormant throughout the accounting period.
The subsidiary is not material for the purpose of giving a true and fair vlew. The company has therefore taken
advantage of the exemption provided by Section 405 of the Companles Act 2006 not to prepare group accounts.
2024
2023
Valley Health and Leisure Limited
Aggregate capital and reserves
Profit for the Year
27

VALLEY LEISURE LIMITED
(A company Ilmlted by guaranta•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. FIXED ASSET INVESTMENTS (continued)
Llsted investments
Analysis of investment by type..
2024
2023
Equities
318,193
448,867
Listed investments
318,193
448,867
The historic cost of listed investments is £345,407 (2023.. £451.841).
The trustees consider that the following investment holdings are material (representing more than 5¥0 of
the total portfolio value).
2024
2023
Ruffer Charity Assets Trust Fund
318,193
448,867
12. DEBTORS AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Prepayments and accrued income
210
24,900
1,608
26,240
25.110
27,846
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
VAT
PAYE and social security
Other creditors
Accruals
26,484
16,401
7,785
1,413
87,986
23,764
8,162
6,033
1,176
83,433
140.069
122.568
28

VALLEY LEISURE LIMITED
(A company Ilmit￿ by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14.
OPERATING LEASE COMMITMENTS
As at 31 March 2024 the charity has an annual rental contract of £15.000 per year, for the next year in respect of
its I Can premises. Under this lease agreement the charity can terminate the lease on an annual basis. This lease
is due to expire in March 2027.
As al 31 March 2024 the charity also has a rental contract of £18,000 which is due to expire in November 2024, in
respect of its site at the Andover Bowling Alley complex.
15,
ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2024
Unr•strlcted
funds
Restrlcted
funds
2024
Total
Flxed assets
Investrnents
Current assets
Current liabilities
155,933
318,194
150,284
(140.069)
22,295
178,228
318.194
154,458
(140,069)
4,174
484,342
26,469
510.811
ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2023
Unro8trlet•d
funds
Restrlcted
fund8
2023
Total
Fixed assets
Investments
Current assets
Current liabilities
211,099
448.868
86,522
(122,568)
18,924
230,023
448,868
108,779
(122,568>
22,257
623,921
41,181
665.102
29

VALLEY LEISURE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
MOVEMENT IN FUNDS
At 1 Aprll Net movement
2023
in funds
Transfers
between funds
At 31 March
2024
Unrestricted funds
General fund
Designated reserve
368,921
255.000
(139,579)
(5,000)
5,000
224,342
260,000
Totsl Un￿strICted funds
623,921
(139,579)
484.342
Réstricted fund8
l-can therapy equipment fund
Community Asset fund
Stannah Stair Lifts l-can fund
19,542
18,750
2,889
(8.990)
(5,000)
(722)
10,552
13,750
2,167
Total restricted funds
41,181
(14,712)
26,469
TOTAL FUNDS
655,102
(154,291>
510,811
Designated reserve represents certain designated reserve funds categorised under the following headings:
Transition and contracts reserve - £65.000 (2023.. £75,000)
Equipment replacement - £70,000 (2023.. £60,000)
Annual miscellaneous capex- £25,000 (2023.. £20.000)
Future growth - £100,000 (2023.. £100,000)
Net movement in funds, included in the above. are as follows..
Incoming Re8ourGes
resources
Expended
Galns and Mov•m•nt
(108888)
In funds
Unrestrlcted funds
General fund
847,202
(948,657)
(38,124) (139,579)
Total unrestricted funds
847,202
{948,657)
(38,124) (139,579)
Restrlcted funds
l-can therapy equipment fund
Community Asset fund
Stannah Stair Lifts l-can fund
(8,990)
(5,000)
(722)
{8,990)
(5,000)
(722)
Total restricted funds
(14.712)
(14,712)
Total
847,202
(963.369)
(38,124) (154,291)
l-can therapy equipment fund
This fund relates to the grants received from Simply Health to fund the purchase of equipment for the l-can
therapy centre operated by the charity- It represents the net book value of fixed assets funded by the grants.

VALLEY LEISURE LIMITED
(A company limited by guarant•a)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
MOVEMENT IN FUNDS (continued)
Community Asset fund
This fund represents a grant contributed towards the new Pins on String and scoring system as part of an initiative
to fund 500/0 of the cost of a project to provide new or enhance existing, important community assets and facilities.
As part of the agreement TVBC recognised that the property lease is up for renewal and therefore included a 500/9
clawback provision should operations move outside the TVBC area.
Stannah Stair Llfts l-can fund
This fund relates to the grant received from Stannah Stair Lifts tofund the purchase equipment for the l-can therapy
centre operated by the charity.
17.
RELATED PARTY TRANSACTIONS
There were no transactions made with related parties during the current or prior year.
18.
CONTROLLING PARTY
Valley Leisure Limited was controlled throughout the current and previous perlod by the guarantor members, who
have all given guarantees of £1 each, and who are also Valley Leisure Limlted's directors. No member has overall
control.
19.
CASH GENERATED FROM OPERATIONS
2024
2023
Net expenditure for the year
(154,291)
(102,687)
Adjustments for..
Investment income
Depreciation of tangible fixed assets
(Gain)Iloss on fixed asset investments
(7,453)
67,983
38,124
(10,827)
79,141
11,721
Movements in working capltal:
155,637)
{11.838)
Decreasel {increase)l in stock
(Increase)Idecrease in trade and other debtors
Increasel(decrease) in trade and other credilors
(4,289)
2,736
17,500
2,808
{276)
34,562
Cash generated from operations
(39,690)
(25,256)
31