IRIS Accounts Production v24.1.0.578 Other Company accounts True false Pounds 1.12.22 30.11.23 30.11.23 FY S Matthews J M Roberts D L Poole A M Staffer A Evans A E Parry K Goodchild FRS 102 Audited Small companies regime for accounts Full Charities SORP true true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090105652022-11-30090105652023-11-30090105652022-12-012023-11-30090105652021-11-30090105652021-12-012022-11-30090105652022-11-3009010565ns0:CharitableCompanyLimitedByGuarantee2022-12-012023-11-3009010565ns15:PoundSterling2022-12-012023-11-3009010565ns0:Trustee12022-12-012023-11-3009010565ns0:Trustee22022-12-012023-11-3009010565ns0:Trustee32022-12-012023-11-3009010565ns0:Trustee42022-12-012023-11-3009010565ns0:Trustee52022-12-012023-11-3009010565ns0:Trustee62022-12-012023-11-3009010565ns0:Trustee72022-12-012023-11-3009010565ns11:FRS1022022-12-012023-11-3009010565ns11:Audited2022-12-012023-11-3009010565ns11:SmallCompaniesRegimeForAccounts2022-12-012023-11-3009010565ns11:FullAccounts2022-12-012023-11-3009010565ns11:CharitiesSORP2022-12-012023-11-3009010565ns16:EnglandWales2022-12-012023-11-3009010565ns11:RegisteredOffice2022-12-012023-11-3009010565ns0:TotalUnrestrictedFunds2022-12-012023-11-3009010565ns0:TotalRestrictedIncomeFunds2022-12-012023-11-3009010565ns0:TotalUnrestrictedFunds2022-11-3009010565ns0:TotalRestrictedIncomeFunds2022-11-3009010565ns0:TotalUnrestrictedFunds2023-11-3009010565ns0:TotalRestrictedIncomeFunds2023-11-3009010565ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-11-3009010565ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-11-3009010565ns10:WithinOneYear2023-11-3009010565ns10:WithinOneYear2022-11-3009010565ns0:TotalUnrestrictedFundsns10:AfterOneYear2023-11-3009010565ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2023-11-3009010565ns10:AfterOneYear2023-11-3009010565ns10:AfterOneYear2022-11-3009010565ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-12-012023-11-3009010565ns10:PlantMachinery2022-12-012023-11-3009010565ns10:FurnitureFittingsToolsEquipment2022-12-012023-11-3009010565ns10:ComputerEquipment2022-12-012023-11-300901056522022-12-012023-11-300901056512022-12-012023-11-300901056512021-12-012022-11-3009010565122022-12-012023-11-3009010565122021-12-012022-11-3009010565132022-12-012023-11-3009010565132021-12-012022-11-3009010565142022-12-012023-11-3009010565142021-12-012022-11-3009010565ns10:OwnedAssets2022-12-012023-11-3009010565ns10:OwnedAssets2021-12-012022-11-3009010565ns0:TotalUnrestrictedFunds2021-12-012022-11-3009010565ns0:TotalRestrictedIncomeFunds2021-12-012022-11-3009010565ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-11-3009010565ns10:PlantMachinery2022-11-3009010565ns10:FurnitureFittings2022-11-3009010565ns10:ComputerEquipment2022-11-3009010565ns10:FurnitureFittings2022-12-012023-11-3009010565ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-11-3009010565ns10:PlantMachinery2023-11-3009010565ns10:FurnitureFittings2023-11-3009010565ns10:ComputerEquipment2023-11-3009010565ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-11-3009010565ns10:PlantMachinery2022-11-3009010565ns10:FurnitureFittings2022-11-3009010565ns10:ComputerEquipment2022-11-3009010565ns10:BetweenOneTwoYears2023-11-3009010565ns10:BetweenOneTwoYears2022-11-3009010565ns10:BetweenTwoFiveYears2023-11-3009010565ns10:BetweenTwoFiveYears2022-11-30
REGISTERED COMPANY NUMBER: 09010565 (England and Wales)
REGISTERED CHARITY NUMBER: 1161937










Report of the Trustees and

Financial Statements

for the Year Ended 30 November 2023

for

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Report of the Trustees 1 to 3

Report of the Independent Auditors 4 to 6

Statement of Financial Activities 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 18

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash (Registered number: 09010565)

Report of the Trustees
for the Year Ended 30 November 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Aims & Objectives of the Trust
To provide community and recreational facilities to the people of Wrexham County Borough and surrounding areas. To create a centre where people can meet and develop the social environment and to enhance their physical and mental wellbeing.

To offer employment and volunteering opportunities to many local people, making a vital contribution to the local community, which includes areas of deprivation.

To ensure that the leisure centre is maintained for the benefit of future generations.

Focus of our work
Our focus is not just to provide quality leisure and recreational facilities, but also to develop a network of sustainable community support that can be delivered in partnership with key partners and stakeholders. In this way we will also be able to continue to work with local groups and organisations across the area to be inclusive.

Public benefit
The Trustees confirm they have carried out the charity’s purposes for the public benefit.

Major funding
We continue to strive to achieve our ongoing program to improve the centre.

In the last 12 months Wrexham County Borough Council Executive Board approved a 99-year lease which will ensure our long term sustainability within the building.

Our food project continues to be a success and we have received £4,000 from the local health board and £4,000 from Tai Wales and West Housing to support the refurbishment of our community kitchen hub. Our food project is going from strength to strength and includes a weekly luncheon club, food education courses, subscription to the fare-share scheme tackling food wastage and cost price meals.

The last tranche of funding of £30,000 was received from the local health board and it has continued to support the development and implementation of the community support hub. The residents of Wrexham South benefit from having key services at the leisure centre; Wrexham Citizens Advice Bureau, Wrexham Foodbank, Kim Inspire, Caniad, Hafren Dyfrdwy, Communities for Work and The Wallich.

The last 12 months have been challenging with reference to higher energy costs. The increases in our electricity costs started in December 2022 when they initially tripled for a short period of time and then reduced to double the cost of our previous bills. Our gas prices increased from September 2023. The gas costs doubled in price and it was a worrying time. We had previously taken steps to reduce our energy costs by installing LED lighting in 90% of the building and by replacing our 40+ year old boilers with up-to-date energy efficient condensing boilers. We are confident that further developments within the centre and investment in energy saving measures to reduce energy costs will put us back into a sustainable position for years to come.

We have been successful in securing funding from the UK Government Levelling-up programme, which will be implemented from September 2023, going into next financial year. This project will install energy saving measures that will help mitigate the effects of high energy costs that have been a challenge to us during the course of the financial year. The funding for this year was £50,000, with £290,000 being received in the next financial year.

ACHIEVEMENT AND PERFORMANCE
Finances
In this year we consolidated our position with a further surplus of £393,737 (2022 a surplus of £404,796).

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash (Registered number: 09010565)

Report of the Trustees
for the Year Ended 30 November 2023

FINANCIAL REVIEW
Reserves policy
The charity's aim is to hold reserves at a minimum level sufficient to cover 3 months worth of working capital cost.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Structure and governance
The directors of the company are also charity trustees. Under the requirements of the memorandum and articles of association, the members are elected to serve for a period of 3 years, after which they must be re-elected at the next Annual General Meeting. All trustees give their time voluntarily and receive no benefits from the charity. Recruitment and appointment of new trustees The directors/trustees ensure that the needs of our community trust are met by the diversity of skills elected to the board, which we would like to see strengthen. All potential directors / trustees must provide us with evidence of their skills and experience. Induction and training of new trustees All trustees are encouraged to be actively involved with our work and as part of their induction are given the 'Essential Trustees Guide' published by the charities commission. Risk management The directors conduct a review of the major risks to which the charity is exposed. This is reviewed and updated on an ongoing basis. Systems and procedures are established, where appropriate, in order to mitigate potential risk.

Recruitment and appointment of new trustees
The directors/trustees ensure that the needs of our community trust are met by the diversity of skills elected to the board, which we would like to see strengthen.

All potential directors / trustees must provide us with evidence of their skills and experience.

Induction and training of new trustees
All trustees are encouraged to be actively involved with our work and as part of their induction are given the 'Essential Trustees Guide' published by the charities commission.

Risk management
The directors conduct a review of the major risks to which the charity is exposed. This is reviewed and updated on an ongoing basis.

Systems and procedures are established,where appropriate, in order to mitigate potential risk.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09010565 (England and Wales)

Registered Charity number
1161937

Registered office
Plas Madoc Leisure Centre
Plas Madoc
Acrefair
Wrexham
LL14 3HL


Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash (Registered number: 09010565)

Report of the Trustees
for the Year Ended 30 November 2023

Trustees
Mrs S Matthews (Chair of the board of Trustees)
J M Roberts (Secretary)
R Prescott (Treasurer) (resigned on 08/08/2022)
Mrs A Evans
Ms A. E Parry
D L Poole
M I Roberts (resigned on 18/10/2022)
Mrs A M Staffer

Auditors
Haines Watts, Statutory Auditor
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Splash Community Trust Ymddiriedolaeth Gymunedol Sblash for the purposes of company law) 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 state 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 consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements 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.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Haines Watts, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 28 June 2024 and signed on its behalf by:




S Matthews - Trustee

Report of the Independent Auditors to the Members of
Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Opinion
We have audited the financial statements of Splash Community Trust Ymddiriedolaeth Gymunedol Sblash (the 'charitable company') for the year ended 30 November 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes 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 United Kingdom Accounting Standards (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 30 November 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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.

Material uncertainty relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies 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.

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 for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with 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 and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance around actual and potential litigation and claims
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
- Auditing the risk of management override of controls. including through testing journal entries and other adjustments
for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of
business.
- Challenging assumptions and judgements made by management in its significant accounting estimate in particular:
- Depreciation - we carried out a review and recalculation of depreciation to assess its appropriateness for inclusion
within the financial statements
- Accruals and Prepayments - we reviewed a sample of accruals and prepayments in the year to determine that these were applied correctly
- Tax Provision - we carried out a review of the tax computations and ensured it was applied correctly
- Bad Debt Provision - we reviewed the bad debt provision and bad debts provided for and ensured that the bad debt policy was applied consistently.
- Identifying and testing journals entries, in particular any journal entries posted with unusual account combinations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Report of the Independent Auditors to the Members of
Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash


Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Forshaw BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

28 June 2024

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Statement of Financial Activities
for the Year Ended 30 November 2023

30.11.23 30.11.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 12,397 91,926 104,323 374,609

Other charitable activities 3 900,745 - 900,745 773,347
Total 913,142 91,926 1,005,068 1,147,956

EXPENDITURE ON
Raising funds 4 128,915 - 128,915 107,932


Other 837,580 49,812 887,392 905,410
Total 966,495 49,812 1,016,307 1,013,342

NET INCOME/(EXPENDITURE) (53,353 ) 42,114 (11,239 ) 134,614


RECONCILIATION OF FUNDS
Total funds brought forward 256,190 148,786 404,976 270,362

TOTAL FUNDS CARRIED FORWARD 202,837 190,900 393,737 404,976

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash (Registered number: 09010565)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 98,130 - 98,130 104,681

CURRENT ASSETS
Stocks 11 6,750 - 6,750 5,243
Debtors 12 15,841 30,308 46,149 6,015
Cash at bank and in hand 173,199 160,592 333,791 407,419
195,790 190,900 386,690 418,677

CREDITORS
Amounts falling due within one year 13 (70,593 ) - (70,593 ) (77,554 )

NET CURRENT ASSETS 125,197 190,900 316,097 341,123

TOTAL ASSETS LESS CURRENT
LIABILITIES

223,327

190,900

414,227

445,804

CREDITORS
Amounts falling due after more than one year 14 (20,490 ) - (20,490 ) (40,828 )

NET ASSETS 202,837 190,900 393,737 404,976
FUNDS 17
Unrestricted funds 202,837 256,190
Restricted funds 190,900 148,786
TOTAL FUNDS 393,737 404,976

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 28 June 2024 and were signed on its behalf by:





S Matthews - Trustee

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Cash Flow Statement
for the Year Ended 30 November 2023

30.11.23 30.11.22
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (41,394 ) 25,122
Net cash (used in)/provided by operating activities (41,394 ) 25,122

Cash flows from investing activities
Purchase of tangible fixed assets (11,951 ) (279 )
Net cash used in investing activities (11,951 ) (279 )

Cash flows from financing activities
Loan repayments in year (21,269 ) (21,221 )
Net cash used in financing activities (21,269 ) (21,221 )

Change in cash and cash equivalents in
the reporting period

(74,614

)

3,622
Cash and cash equivalents at the
beginning of the reporting period

2

405,750

402,128
Cash and cash equivalents at the end of
the reporting period

2

331,136

405,750

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Cash Flow Statement
for the Year Ended 30 November 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM
OPERATING ACTIVITIES
30.11.23 30.11.22
£    £   
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)

(11,239

)

134,614
Adjustments for:
Depreciation charges 18,502 19,754
Increase in stocks (1,507 ) (4,543 )
(Increase)/decrease in debtors (40,134 ) 34,962
Decrease in creditors (7,016 ) (159,665 )
Net cash (used in)/provided by operations (41,394 ) 25,122

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
30.11.23 30.11.22
£    £   
Cash in hand 1,140 1,540
Notice deposits (less than 3 months) 332,651 405,879
Overdrafts included in bank loans and overdrafts falling due within one year (2,655 ) (1,669 )
Total cash and cash equivalents 331,136 405,750



3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.22 Cash flow At 30.11.23
£    £    £   
Net cash
Cash at bank and in hand 407,419 (73,628 ) 333,791
Bank overdraft (1,669 ) (986 ) (2,655 )
405,750 (74,614 ) 331,136

Debt
Debts falling due within 1 year (21,223 ) 931 (20,292 )
Debts falling due after 1 year (40,828 ) 20,338 (20,490 )
(62,051 ) 21,269 (40,782 )
Total 343,699 (53,345 ) 290,354

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Functional Currency

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1>

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 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 resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Leasehold property - over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES - continued

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted 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 notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2. DONATIONS AND LEGACIES
30.11.23 30.11.22
£    £   
Donations and fundraising 12,397 10,681
Grants 91,926 363,928
104,323 374,609

Grants received, included in the above, are as follows:

30.11.23 30.11.22
£    £   
Other grants received - 54,176
Government grants in relation to Covid 19 5,500 -
Grant for changing room renovation - 159,752
Food Poverty Initative 6,426 75,000
Covid Support Hub 30,000 75,000
Levelling up fund 50,000 -
91,926 363,928

3. OTHER CHARITABLE ACTIVITIES
30.11.23 30.11.22
£    £   
Reception sales 384,551 350,553
Membership fees 202,290 159,944
Cafe sales 97,407 87,075
Facility hire 201,099 172,068
Other income 15,398 3,707
900,745 773,347


Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. RAISING FUNDS

Other trading activities
30.11.23 30.11.22
£    £   
Opening stock 5,243 700
Purchases 58,789 47,804
Closing stock (7,682 ) (5,243 )
Pool costs 25,462 16,021
Other costs of sale 6,125 6,381
Instructor costs 28,484 29,675
Pensions 12,494 12,594
128,915 107,932

5. SUPPORT COSTS
Administration
costs
£   
Other resources expended 887,392

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.11.23 30.11.22
£    £   
Depreciation - owned assets 18,502 19,754
Hire of plant and machinery 4,451 3,113

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.



Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. STAFF COSTS
30.11.23 30.11.22
£    £   
Wages and salaries 461,180 397,853
461,180 397,853

The average monthly number of employees during the year was as follows:

30.11.23 30.11.22
Full-time staff 13 10
Part-time staff 34 34
47 44

No employees received emoluments in excess of £60,000.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 64,857 309,752 374,609

Other charitable activities 773,347 - 773,347
Total 838,204 309,752 1,147,956

EXPENDITURE ON
Raising funds 107,932 - 107,932


Other 717,044 188,366 905,410
Total 824,976 188,366 1,013,342

NET INCOME 13,228 121,386 134,614


RECONCILIATION OF FUNDS
Total funds brought forward 242,962 27,400 270,362

TOTAL FUNDS CARRIED FORWARD 256,190 148,786 404,976


Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 38,395 3,715 177,595 3,354 223,059
Additions - - 11,951 - 11,951
At 30 November 2023 38,395 3,715 189,546 3,354 235,010
DEPRECIATION
At 1 December 2022 6,593 1,725 107,468 2,592 118,378
Charge for year 1,536 398 16,416 152 18,502
At 30 November 2023 8,129 2,123 123,884 2,744 136,880
NET BOOK VALUE
At 30 November 2023 30,266 1,592 65,662 610 98,130
At 30 November 2022 31,802 1,990 70,127 762 104,681

11. STOCKS
30.11.23 30.11.22
£    £   
Stocks 6,750 5,243

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 5,841 6,015
Prepayments 40,308 -
46,149 6,015

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 15) 22,947 22,892
Trade creditors 34,318 15,355
VAT 4,328 2,028
Other creditors - 4,025
Accrued expenses 9,000 33,254
70,593 77,554


Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 15) 20,490 40,828

15. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 2,655 1,669
Bank loans 20,292 21,223
22,947 22,892
Amounts falling between one and two years:
Bank loans - 1-2 years 9,556 20,247
Amounts falling due between two and five years:
Bank loans - 2-5 years 10,934 20,581

16. SECURED DEBTS

The loan is secured by a fixed and floating charge over the assets of the company, dated 28 January 2019.

17. MOVEMENT IN FUNDS
Net
At movement At
1.12.22 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 256,190 (53,353 ) 202,837

Restricted funds
Food poverty Initiative 83,671 (15,906 ) 67,765
Covid Support Hub 65,115 7,620 72,735
Other Gants received - 400 400
Levelling up fund - 50,000 50,000
148,786 42,114 190,900
TOTAL FUNDS 404,976 (11,239 ) 393,737

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 913,142 (966,495 ) (53,353 )

Restricted funds
Food poverty Initiative 6,426 (22,332 ) (15,906 )
Covid Support Hub 30,000 (22,380 ) 7,620
Other Gants received 5,500 (5,100 ) 400
Levelling up fund 50,000 - 50,000
91,926 (49,812 ) 42,114
TOTAL FUNDS 1,005,068 (1,016,307 ) (11,239 )


Comparatives for movement in funds

Net
At movement At
1.12.21 in funds 30.11.22
£    £    £   
Unrestricted funds
General fund 242,962 13,228 256,190

Restricted funds
Food poverty Initiative 27,400 56,271 83,671
Covid Support Hub - 65,115 65,115
27,400 121,386 148,786
TOTAL FUNDS 270,362 134,614 404,976

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 838,204 (824,976 ) 13,228

Restricted funds
Changing room improvements 159,752 (159,752 ) -
Food poverty Initiative 75,000 (18,729 ) 56,271
Covid Support Hub 75,000 (9,885 ) 65,115
309,752 (188,366 ) 121,386
TOTAL FUNDS 1,147,956 (1,013,342 ) 134,614

Splash Community Trust
Ymddiriedolaeth Gymunedol Sblash

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.12.21 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 242,962 (40,125 ) 202,837

Restricted funds
Food poverty Initiative 27,400 40,365 67,765
Covid Support Hub - 72,735 72,735
Other Gants received - 400 400
Levelling up fund - 50,000 50,000
27,400 163,500 190,900
TOTAL FUNDS 270,362 123,375 393,737

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,751,346 (1,791,471 ) (40,125 )

Restricted funds
Changing room improvements 159,752 (159,752 ) -
Food poverty Initiative 81,426 (41,061 ) 40,365
Covid Support Hub 105,000 (32,265 ) 72,735
Other Gants received 5,500 (5,100 ) 400
Levelling up fund 50,000 - 50,000
401,678 (238,178 ) 163,500
TOTAL FUNDS 2,153,024 (2,029,649 ) 123,375

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 November 2023.