SOUTH DOWNS LEISURE
Financial health, per its FY2023 accounts
The accounts state that the group reported a surplus before exceptional items of £236,177, but incurred a deficit after exceptional items of £319,936, largely due to a negative fair value adjustment on utility hedging contracts. The trustees confirmed that unrestricted reserves were £234,921 and considered the overall reserve levels sufficient to meet liabilities, maintaining the going concern basis despite utility market volatility.
What the accounts disclose
“Unrestricted funds at year end totalled £234,921 (2022: £235,056).” — page 19
“Staff trustees only receive remuneration in respect of services they provide undertaking the roles of staff and not in respect of their services as trustees. Other trustees did not receive any payments from the Trust in respect of their roles as trustees.” — page 39
“During the year South Downs Leisure engaged in services from Inspace Fitness Limited, a company in which Phillip Griffin, a trustee, is a director. £214,349 + VAT (2022: £486,443) was invoiced for gym equipment. As at 31 March 2023, South Downs Leisure owed £26,264 (2022: £1,861) to Inspace Fitness Limited.” — page 51
“The charity has a wholly owned trading subsidiary, South Downs Leisure Enterprises Ltd, whose non-primary purpose is to provide trading activities to support the activities of the Trust.” — page 6
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Andrew Fleetwood
- Dr Amanda Turner
- Dr James Spencer Marshall
- GERARD NOEL JAMES CRONIN
- Kevin Boram
- Nicholas James Patrick Beverley-Hedger
- Paula Newton
- Stephen Michael Redman
- Tom Wrapson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £11.5m | £10.7m |
| 31/03/2024 | £10.5m | £9.8m |
| 31/03/2023 | £8.3m | £8.0m |
| 31/03/2022 | £6.8m | £7.2m |
| 31/03/2021 | £4.9m | £4.2m |
Common questions
Is SOUTH DOWNS LEISURE financially healthy?
The accounts state that the group reported a surplus before exceptional items of £236,177, but incurred a deficit after exceptional items of £319,936, largely due to a negative fair value adjustment on utility hedging contracts. The trustees confirmed that unrestricted reserves were £234,921 and considered the overall reserve levels sufficient to meet liabilities, maintaining the going concern basis despite utility market volatility. Its FY2023 accounts were audited by McCabe Ford Williams.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| IMPETUS - THE PRIVATE EQUITY FOUNDATION | 1 | £294k |
| EDUCATIONAL OPPORTUNITY FOUNDATION | 1 | £10k |
| THE RYA FOUNDATION | 1 | £2k |