Registration number:
Active Torridge Ltd
(A company limited by guarantee)
for the Year Ended 31 March 2025
Active Torridge Ltd
Contents
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Directors' Report |
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Statement of Financial Position |
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Notes to the Financial Statements |
Active Torridge Ltd
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Following Year 3 of activity of Active Torridge Ltd, the Directors are pleased to present our full year results for 2024/25. We are a local authority trading company, wholly owned by Torridge District Council (TDC.) We are a board of 7 Directors, 2 of whom are Officers of TDC,4 of whom are elected Councillors of TDC, and one non-executive Director.
The Board held 8 Board meetings during the year.
In line with our reporting commitment we presented our achievements and plans to Torridge District Council Full Council meeting in November 2024.
A significant focus for us was the successful renegotiation of an extended contract with TDC with agreement to continue the existing LATC model until the end of the 2026/27 with a commitment to enter a new 5-year contract from April 2027 to March 2032.This continuity is important to us in order to respond to the opportunity for increased leisure facilities in the geographical area as detailed in our ambitious 5-year business plan.
The work of the subcommittee with delegated authority continued. During the year we formalised our relationship with TDC for the provision of HR services.
We reviewed and revised governance policies due for fresh scrutiny.
We also introduced a skills matrix for our Board of Directors enabling us to utilise the combined skills of the Board as appropriate.
Operational highlights
Under the guidance of the COO two of our three centres have performed well, with the third being impacted by essential repair works. Some outputs have been highlighted as follows:
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a) |
Membership Growth: The business has successfully cultivated strong customer loyalty with a significant increase in prepaid memberships, a sustained level consistent with reports from 23/24.However during the year disruptions at one of our leisure centres affected membership numbers. The centre was forced to close for almost 3 months of the year to facilitate the complete removal and remediation of asbestos. While the disruption resulted in a significant loss of income we were pleased to be able to collaborate with Torridge District Council to enhance the existing facilities. These developments underscore the commitment between Active Torridge and Torridge District Council to deliver high quality services across all facilities. |
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b) |
Community Engagement: Active Torridge has proactively engaged with local event organisers by offering support in promoting upcoming events and providing resources on the day. Notable events included health and well-being fairs, career fairs and various local sporting competitions. This targeted outreach has significantly enhanced awareness of these events and reinforced our role as the Primary Health and fitness provider within the Torridge community. Through these efforts we are strengthening our community ties and positioning ourselves as a trusted partner in promoting health and well-being across the region. |
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c) |
Site improvements: In 2023/24 we had secured £60k from Sport England’s Swimming Pools Support Fund and £1.2m from the Public Sector Decarbonisation Scheme. Work commenced in March 2024 in accordance with the funding requirements, however a loss of income was unavoidable during 2024/25 due to closure periods while the work took place. |
Active Torridge Ltd
Directors' Report for the Year Ended 31 March 2025 (continued)
Leadership
Our teams were led by our newly appointed Chief Operating Officer promoted from within our existing management team, providing continuity of leadership to the teams. We continue to develop and implement a HR strategy including succession planning, equipping ourselves for new opportunities and fostering a positive workplace culture. We envisage this work accelerating in 2025/26.
Looking ahead
Of significant concern to us was the collapse into administration of a key supplier in early 2025/26. The supplier provided most of our back-office administration and support services.
We continue to evaluate and source best options to continue to offer our customers the high level of service and customer experience they have come to expect from us.
The success of our largest centre has led the Board to seek out an additional venue that will provide gym space, exercise classes and workshop rooms. We secured approval from Torridge District Council to repurpose ‘The Old Library, Bideford’, an exciting opportunity to turn a much loved, but empty building owned by Torridge District Council into a leisure facility in the town Centre. Work continues this project with an intention to begin services by the close of 2025/26.
On behalf of the Board, I would like to take this opportunity to thank the management teams for all their efforts throughout 24/25, the ongoing support and commitment of Torridge District Council, and we look forward to continued success in 25/26.
Judith Gentry
Non-executive Director, on behalf of the Board of Directors
Active Torridge Ltd
Directors' Report for the Year Ended 31 March 2025 (continued)
Directors of the company
The directors who held office during the year were as follows:
Directors responsibilities statement
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial period. Under the law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and accounting estimates that are reasonable and prudent; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Active Torridge Ltd
Directors' Report for the Year Ended 31 March 2025 (continued)
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Active Torridge Ltd
(Registration number: 13849262)
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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- |
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Net assets |
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Reserves |
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Profit and loss account |
34,602 |
10,254 |
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Surplus |
34,602 |
10,254 |
Approved and authorised by the
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Active Torridge Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
Principal activity
The principal activity of the company is operation of sports facilities
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Active Torridge Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
Audit report
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Active Torridge Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
3 years straight line |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Active Torridge Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Tangible assets |
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Fixtures and fittings |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2025 |
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Depreciation |
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Carrying amount |
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At 31 March 2025 |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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- |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
Active Torridge Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Parent undertaking |
The parent undertaking in which these financial statements are consolidated is Torridge District Council, registered address Riverbank House, Bideford, EX39 2QG.