REGISTERED COMPANY NUMBER: 07219190 (England and Wales)

REGISTERED CHARITY NUMBER: 1138947

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SEVERN CENTRE TRUST LTD

Page

Report of the Trustees

1

to

5

Report of the Independent Auditors

6

to

9

Statement of Financial Activities

10

Balance Sheet

11

Notes to the Financial Statements

12

to

22

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 31 December 2025. 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

Objectives and aims

The objects of the Charity are to carry out the following for the benefit of the community within the areas of Herefordshire, the Parish of Highley and the surrounding neighbourhoods, and such other areas as the Trustees shall determine from time to time:

- to provide or assist in the provision of facilities for recreation or other leisure time occupation in the interests of social welfare with the intention of improving the conditions of life of those using the facilities.

- to organise events for recreation or leisure time occupation in the interests of social welfare with the objects of improving the conditions of life of those engaging in them.

- to relieve the needs of people who are elderly, sick or who have physical or mental disabilities, or who are from socially disadvantaged backgrounds through the provision of recreational and leisure time activities.

- to promote and preserve good health amongst the population through exercise and sport.

- to promote physical education and development amongst pupils and students at schools, colleges or establishments for the provision of further or higher education.

- to advance education through the provision of libraries and other community and cultural facilities; and

- to carry out any other charitable activity subject to the prior written consent of the Charity Commission for England and Wales.

Principal activities

The Charitable Company's principal activity is the management and operation of a community leisure facility on behalf of Local Authority and Parish Council funders under a long-term contractual arrangement.

Public benefit

The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit when reviewing the Charitable Company's aims and objectives and in planning future activities. The Trustees are satisfied that the Charitable Company's activities deliver direct and demonstrable public benefit in the following ways:

- Providing access to high-quality leisure, sport, and fitness facilities

- Operating inclusive pricing structures, concessionary membership rates, and targeted programmes designed to improve access for individuals from lower-income households and other disadvantaged groups.

- Delivering structured aquatic programmes that support the development of essential life skills, particularly for children and young people.

- Facilitating active ageing and health improvement programmes that reduce the burden of sedentary behaviour and lifestyle-related illness on individuals and the communities they live in.

The Trustees are satisfied that the benefits delivered by the Charitable Company's activities are available to a sufficiently wide section of the public and that no private benefit arises that is more than incidental to the achievement of its charitable purposes.

Equality, diversity and inclusion

The Charitable Company has a strong commitment to equality, diversity, and inclusion, both as an employer and as a provider of community services. Halo (the parent company) works actively with its local authority partners and community organisations to target under-represented groups, reduce barriers to participation, and foster a culture in which all individuals feel safe, valued, and included. Halo has partnered with the National Centre for Diversity and holds the Investors in Diversity Award, first achieved in 2023.

Stakeholder engagement

In discharging their responsibilities as Directors under section 172 of the Companies Act 2006, the Trustees have had regard to the interests of the Charitable Company's key stakeholders throughout the year, recognising that their decisions affect not only the financial sustainability of the organisation but also its ability to deliver its charitable mission. The principal stakeholder groups and the Charitable Company's engagement with them during 2025 are described below.

- Local Authority and Parish Council Partners

- Customers and Community

- Employees

- Funders

- Regulators

The Charitable Company maintains compliance with its obligations to the Charity Commission, Companies House, and other relevant regulatory bodies, including those governing health and safety, data protection, and safeguarding. The Trustees engage with regulatory requirements proactively and consider their implications in strategic and operational decision-making.

Environmental matters

The Charitable Company recognises that its operation of a leisure facilities creates a material environmental footprint, particularly in relation to energy consumption. Reducing energy use is both a financial and an environmental priority. The Charitable Company continues to invest in energy efficiency measures where appropriate. including lighting and plant efficiency improvements. Performance against energy consumption targets is monitored at facility and portfolio level. The flexible energy purchasing agreement in place to March 2029 supports cost management whilst the Charitable Company and its parent charity continue to develop its longer-term approach to carbon reduction and sustainability.

FINANCIAL REVIEW

2025 performance

The Severn Centre performed well in 2025 and achieved a P&L surplus of £13,779 (before depreciation) an improvement on both the prior year 2024 and the 2025 budget expectations.

Revenue streams include memberships, swimming pool (Lido) and rental income. The Lido being weather dependent had a good year, and we saw the first full year of rentals from the newly opened GP surgery.

Reserves policy

The Charitable Company's reserves policy is to maintain unrestricted reserves at a level sufficient to cover an average of three months of operating expenditure. The Trustees consider this level of reserves necessary to provide adequate protection against the risks inherent in the Charitable Company's operating model, in particular the mismatch between the short-term commitment cycle of membership and programme customers and the longer-term commitments to staffing and property.The target level of unrestricted reserves under this policy is at least £60,000. Unrestricted reserves at 31 December 2025 were £85,351.

Going concern

In assessing whether it is appropriate to prepare the financial statements on a going concern basis, the Trustees have considered the Charitable Company's current financial position, its short and medium-term financial projections, and the principal risks and uncertainties set out in the following section.

The Trustees are therefore satisfied that the Charitable Company and the Group have adequate resources to continue in operational existence for the foreseeable future and have prepared the financial statements on a going concern basis.

Whilst no specific date has been set, the Trustees are exploring the possibility of transferring the activities and assets of the charity to the parent charity, Halo Leisure Services Limited. This may have the potential to yield benefits in relation to streamlined processes and cost reductions through consolidation.

FUTURE DEVELOPMENTS - LOOKING FORWARD TO 2026

There are no significant changes to the operating model expected in 2026. We expect to generate a small operating surplus and maintain cash reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal structure

Severn Centre Trust Limited is a charitable company limited by guarantee, incorporated in England and Wales. It does not have a share capital and liability of the members is limited. The Charitable Company is governed by its Articles of Association and is registered with the Charity Commission for England and Wales.

Recruitment and appointment of new trustees

The management of the charity is the responsibility of the trustees who are appointed under the terms of the memorandum and articles of the limited company. Halo Leisure Services Ltd as the charitable company's sole member (parent) appoints the trustees, at least one of whom shall not be a trustee of Halo Leisure Services Ltd.

All new trustees receive induction training regarding the organisation including Ltd powers and objects and the charitable company itself.

Board meetings and decision making

The Board of Trustees meets at least two times per year and is responsible for the overall governance, strategic direction, and oversight of the Charitable Company. Day-to-day operational management is delegated to the Chief Executive Officer and the Senior Management Team in accordance with a scheme of delegation approved by the Board.

Severn Centre Advisory Board

The Charitable Company has established an Advisory Board comprising trustees, management and representatives of the local community to keep the community informed of key developments and to ensure the Charitable Company is aware of the concerns and interests of the local people.

Related parties and connected organisations

The Charitable Company acknowledges funding and support from Shropshire County Council, Highley Parish Council and Halo Leisure Services Limited.

Risk assessment

The Trustees maintain a formal Risk Register including mitigation measures. This document is reviewed regularly by the Board.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07219190 (England and Wales)

Registered Charity number

1138947

Registered office

Lion Yard

Broad Street

LEOMINSTER

HR6 8BT

Trustees

M A W Salt

C E Edginton

O R Whelan

W J Campion

Company Secretary

J G Huxley

Auditors

McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Severn Centre Trust Ltd 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. Under that law, the trustees 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 trustees 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 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 Charities 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, McCabe Ford Williams, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 3 August 2026 and signed on its behalf by:

O R Whelan - Trustee

Opinion

We have audited the financial statements of Severn Centre Trust Ltd (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet 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 31 December 2025 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.

Conclusions 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.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and 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 management and our experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company including, but not limited to, the UK charity tax legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alter to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud as well as their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws 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;

- reviewed management contacts where contract variations had arisen;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 1 were indicative of potential bias; and

- investigated the rationale behind significant 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;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and the relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that 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 Board of Trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements 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 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.

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.

Ashley Phillips FCCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

6 August 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

3

Operation of centre facilities

223,852

5,000

228,852

210,569

Investment income

2

80,297

-

80,297

77,934

Total

304,149

5,000

309,149

288,503

EXPENDITURE ON

Charitable activities

4

Operation of centre facilities

294,063

64,690

358,753

339,544

NET INCOME/(EXPENDITURE)

10,086

(59,690

)

(49,604

)

(51,041

)

RECONCILIATION OF FUNDS

Total funds brought forward

75,265

1,869,292

1,944,557

1,995,598

TOTAL FUNDS CARRIED FORWARD

85,351

1,809,602

1,894,953

1,944,557

31.12.25

31.12.24

Notes

£

£

FIXED ASSETS

Tangible assets

11

1,820,145

1,883,529

CURRENT ASSETS

Debtors

12

32,737

69,744

Cash at bank and in hand

189,045

45,742

221,782

115,486

CREDITORS

Amounts falling due within one year

13

(146,974

)

(54,458

)

NET CURRENT ASSETS

74,808

61,028

TOTAL ASSETS LESS CURRENT LIABILITIES

1,894,953

1,944,557

NET ASSETS

1,894,953

1,944,557

FUNDS

17

Unrestricted funds

85,351

75,265

Restricted funds

1,809,602

1,869,292

TOTAL FUNDS

1,894,953

1,944,557

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 3 August 2026 and were signed on its behalf by:

O R Whelan - Trustee

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charitable company to be able to continue as a going concern.

Company status

The company is a company limited by guarantee and a registered charity. The members of the charitable company are the Trustees named within the Report of the Trustees. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £5 per member of the charitable company.

Financial Reporting Standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

Incoming resources

Items of income are recognised and included in the accounts when all of the following criteria are met:

i. The Charitable Company has entitlement to the funds;

ii. any performance conditions attached to the items of income have been met or are fully within the control of the Charitable Company;

iii. there is sufficient certainty that receipt of the income is considered probable; and

iv. the amount can be measured reliably.

Income represents net sales of goods and services, excluding Value Added Tax and discounts to customers and management fees. Income received in respect of future events has been deferred and will be released when the event is complete or over the period to which the income relates. Membership income is deferred over the period of membership.

The management fee is an unrestricted fund which is available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company. Income received for capital expenditure is treated as deferred income and is credited to the Statement of Financial Activities by installments over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.

Resources expended

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance and over remaining term of lease

Fixtures and fittings

-

15% on cost

Assets costing more than £1,000 are capitalised.

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

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.

Debtors

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 date of acquisition or opening of the deposit or similar account.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Creditors and provisions

Creditors and provisions 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 to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The trust 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Significant judgements and estimates

In the application of the charitable company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

2.	INVESTMENT INCOME

31.12.25

31.12.24

£

£

Rental income

80,297

77,934

3.	INCOME FROM CHARITABLE ACTIVITIES

31.12.25

31.12.24

Activity

£

£

Centre activities & related income

Operation of centre facilities

123,971

105,989

Management fees

Operation of centre facilities

104,881

104,580

228,852

210,569

4.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 5)

note 6)

Totals

£

£

£

Operation of centre facilities

184,611

174,142

358,753

5.	DIRECT COSTS OF CHARITABLE ACTIVITIES

31.12.25

31.12.24

£

£

Staff costs

114,709

104,221

Other staff costs

519

483

Bad debts

6,000

1,000

Depreciation

63,383

61,823

184,611

167,527

6.	SUPPORT COSTS

Human

Governance

Management

resources

costs

Totals

£

£

£

£

Operation of centre facilities

159,217

1,925

13,000

174,142

Support costs, included in the above, are as follows:

Management

31.12.25

31.12.24

Operation

of centre

Total

facilities

activities

£

£

Property costs

96,803

91,003

Insurance

8,970

10,197

Administrative costs

21,925

22,270

Management fee

20,004

20,003

Postage and stationery

165

282

Advertising

3,980

2,990

Sundries

5,212

1,535

Legal and professional fees

2,158

9,949

Irrecoverable VAT

-

3,756

159,217

161,985

Human resources

31.12.25

31.12.24

Operation

of centre

Total

facilities

activities

£

£

Interest payable

1,925

357

Governance costs

31.12.25

31.12.24

Operation

of centre

Total

facilities

activities

£

£

Auditors' remuneration

13,000

9,675

7.	NET INCOME/(EXPENDITURE)

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

31.12.25

31.12.24

£

£

Auditors' remuneration

13,000

9,675

Depreciation - owned assets

62,429

60,868

Depreciation - assets on hire purchase contracts and finance leases

955

955

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

9.	STAFF COSTS

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

31.12.25

31.12.24

Operation of centre facilities

12

12

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

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Operation of centre facilities

210,569

-

210,569

Investment income

77,934

-

77,934

Total

288,503

-

288,503

EXPENDITURE ON

Charitable activities

Operation of centre facilities

279,854

59,690

339,544

NET INCOME/(EXPENDITURE)

8,649

(59,690

)

(51,041

)

RECONCILIATION OF FUNDS

Total funds brought forward

66,616

1,928,982

1,995,598

TOTAL FUNDS CARRIED FORWARD

75,265

1,869,292

1,944,557

11.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2025 and 31 December 2025

2,942,261

207,865

401,868

3,551,994

DEPRECIATION

At 1 January 2025

1,072,969

193,628

401,868

1,668,465

Charge for year

59,690

3,694

-

63,384

At 31 December 2025

1,132,659

197,322

401,868

1,731,849

NET BOOK VALUE

At 31 December 2025

1,809,602

10,543

-

1,820,145

At 31 December 2024

1,869,292

14,237

-

1,883,529

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2025 and 31 December 2025

3,820

DEPRECIATION

At 1 January 2025

955

Charge for year

955

At 31 December 2025

1,910

NET BOOK VALUE

At 31 December 2025

1,910

At 31 December 2024

2,865

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

31,620

68,627

Prepayments and accrued income

1,117

1,117

32,737

69,744

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase (see note 14)

3,410

3,410

Trade creditors

371

6,131

Amounts owed to group undertakings

105,735

16,610

Social security and other taxes

299

6,706

Other creditors

301

301

Deferred income

15,508

10,800

Accrued expenses

21,350

10,500

146,974

54,458

14.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.25

31.12.24

£

£

Net obligations repayable:

Within one year

3,410

3,410

15.	SECURED DEBTS

The charity's parent company, Halo Leisure Services Limited, took out a £750k Coronavirus Business Interruption Loan Scheme (CBILS) in 2020 to support its operations. The loan is secured against all of the charity's assets by way of fixed and floating charges.

As at 31 December 2025, the remaining liability outstanding to the bank was £125k (2024: £275k).