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GREENWICH LEISURE LIMITED REPORT OF THE COMMITTEE OF MANAGEMENT AND SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015
Registered company number: IP27793R (England and Wales)
Registered charity number: XR43398
CONTENTSReport of the Committee of Management 4 - 29
Independent Auditor’s statement to the members of GLL 30
Summary Financial Statements
GLL Society Alone:
Balance Sheet 32
Statement Of Financial Activities 33
(Incorporating The Income & Expenditure Statement)
GLL Consolidated Group Accounts:
Balance Sheet 34
Cash Flow Statement 34
Statement Of Financial Activities 35
(Incorporating The Income & Expenditure Statement)
3
PARTNERSHIPS
1-2227
24
25 28
29
26
23
303132
33
34
35
37
36
38
39
40
41
Northern Ireland
37
Within London
1-21
England and Wales
22-36
1. Barking and Dagenham Leisure
2. Barnet Leisure
3. Bexley Leisure
4. Camden Leisure
5. Crystal Palace Leisure
6. Ealing Leisure
7. Greenwich Leisure, Libraries and Childrens services
8. Hackney Leisure
9. Hammersmith and Fulham Leisure
10. Hillingdon Leisure
11. Islington Leisure
12. Kensington and Chelsea Leisure
13. Lambeth Leisure
14. Merton Leisure
15. Queen Elizabeth Olympic Park Leisure
16. Romford Leisure
17. Southwark Leisure
18. Tower Hamlets Leisure
19. Waltham Forest Leisure
20. Wandsworth Libraries
21. Westminster Leisure
22. Cambridge Leisure
23. Chiltern Leisure
24. Epsom and Ewell Leisure
25. Manchester Leisure
26. Reading Leisure
27. Reigate and Banstead Leisure
28. Rugby Leisure
29. South Bucks Leisure
30. South Oxfordshire Leisure
31. Swindon Leisure
32. Vale of White Horse Leisure
33. West Oxfordshire Leisure
34. York Council Leisure
35. Carlisle & Allerdale Leisure
36. Parc Prison Libraries
37. Belfast Leisure
Subsidiaries
40-41
40. Tone
41. NCL
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SECTION 1: REPORT OF THE COMMITTEE OF MANAGEMENTThe Committee of Management present their report with the consolidated inancial statements of the
Society and its subsidiaries for the year ended 31 December 2015. The Committee of Management
have adopted the provisions of the Statement of Recommended Practice (SORP) (FRS102)
‘Accounting and Reporting by Charities’ effective from 1 August 2014.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number: IP27793R (England and Wales)
Registered Charity number: XR43398
Registered ofice Middlegate House
The Royal Arsenal
London
SE18 6SX
Committee of Management
J M Sesnan
S Ward Resigned & re-appointed on 23rd June 2015
G Kirk
S Wright
J Rham Resigned & re-appointed on 23rd June 2015
A Ritchie
M Perren
L Smith Resigned & re-appointed on 23rd June 2015
E Northworthy
E Anderson
C Hebblewhite
J Smith
L Bird
P Brooks
A Bindon Resigned & re-appointed on 23rd June 2015
B Brown Resigned & re-appointed on 23rd June 2015
R Durrant Resigned & re-appointed on 23rd June 2015
Secretary
P Donnay
Bankers
Coop Bank Lloyds Bank
14 Hythe Street Faryners House
Dartford 25 Monument Street
DA1 1BD London EC3R 8BQ
Auditors
Clair Rayner FCA DChA (Senior Statutory Auditor)
McCabe Ford Williams
Statutory Auditors and Chartered Accountants
Bank Chambers, 1 Central Avenue, SITTINGBOURNE ME10 4AE
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STRUCTURE, GOVERNANCE AND MANAGEMENTGLL is an Exempt Charity and a Registered Society under the Co-operative and Community Beneit
Societies Act 2014. The Society operates for the beneit of the wider communities we serve and does not
distribute proit. Any surplus is applied solely to a general reserve for the continuation and development
of the Society.
GLL was established in 1993 with a portfolio of seven leisure centres in one Partnership. In 2015 GLL
directly managed 230 facilities including leisure centres, play centres and libraries in partnership with 40
local councils and other organisations.
During the year, “Carlisle Leisure Limited” (CLL) merged into GLL via an IPS transfer of engagement.
GLL also acquired “North Country Leisure Limited” and “Tone Leisure Group Limited” as wholly owned
subsidiaries. It is intended that these subsidiaries will merge fully into GLL during 2016.
Including wholly owned subsidiaries, the GLL Group managed 255 facilities in partnership with 47 local
councils and other organisations.
The income turnover of the Society alone in 2015 was £215m whilst the turnover of the GLL Group in
2015 was £225m.
GLL is widely acknowledged to be the UK’s leading charitable social enterprise delivering leisure, health,
cultural and community services.
GLL is governed by a Board of Trustees appointed by the annual general meeting. Our governing
document is our rules, irst registered in 1993, and most recently revised and re-registered with the
Financial Conduct Authority on the 17th February 2010.
The GLL Board of Trustees has representation from a number of stakeholders including Customers, Local
Authority members, Independent skilled professionals and signiicantly, the Workforce. This stakeholder
mix has helped create empowerment, enthusiasm and ownership at all levels of the organisation.
The governance structure reporting to the Board includes the:
• Executive Sub Committee for urgent, investment and minor decisions.
• Audit Sub Committee responsible for managing GLL’s risk register
• Remuneration Sub Committee responsible for the employment and terms and conditions of the
executive directors and the general pay and remuneration terms of all employees (No members of staff
can sit on this sub committee)
The Board of Trustees reviews and sets the Strategy and Objectives annually in the context of the ive
year corporate plan. It meets quarterly to review progress and consider additional strategy and policy
decisions.
GLL nominates 2 GLL representatives to sit on the Board of Trustees of its subsidiaries.
GLL operates a risk register to record any potential risk the society may face. The risk register is a working
document that is updated on an ongoing basis with mitigating strategies as necessary. The register is
reviewed by the Audit Sub Committee every quarter.
Day to day management and delivery of GLL’s annual corporate plan is delegated to the Managing
Director and the Executive Director team. The Managing Director reports to the Board of Trustees and is
a full ex oficio member of the Board.
Main Board of Trustees
Executive Sub Committee
Audit Sub CommitteeRemuneration Sub
Committee (external independent members only)
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Recruitment and appointment of new Board Members
In exercising its powers to nominate, appoint, reappoint, elect, re-elect, approve and dismiss Members,
the Society Members seek to ensure that the Board is representative of the local community and also
comprises persons with a broad range of skills who are likely to contribute to the Society’s success.
Induction and training of new Board Members
Board Members follow an induction and familiarisation programme as required, and attend development
sessions to discuss improvement proposals, which also feature externally facilitated sessions with leisure
industry representatives and health professionals.
Staff Empowerment
All eligible staff in GLL are encouraged to join the Society as voting members. This leads to a high
level of commitment, empowerment and motivation resulting in an improved quality of service to the
community. GLL also enjoys remarkably low absence levels.
Remuneration of Key Management PersonnelThe Remuneration Sub Committee (RSC) made up entirely of independent Trustees is responsible
for determining the pay of key management personnel and for setting the annual pay awards for all
employees and workers.
In summary:
- the Remuneration Sub Committee takes responsibility (i) for determining both the policy
and structure for the executive directors’ pay and beneits package, and their pay awards, and
(ii) for approving the directors’ recommendations on the pay awards for other employees and
workers;
- the Director Team is responsible for the pay and beneits packages of all other employees
and workers, and for making recommendations to the Remuneration Sub Committee on the
annual pay award for all employees and workers other than themselves.
The full Board of Trustees remains responsible for the appointment of the Managing Director and,
with him or her, for the appointment of other directors. It is also responsible for the termination of the
employment of the MD and other directors, although any termination payment is to be determined by
the Remuneration Sub Committee.
In conducting its role, the RSC periodically reviews the remuneration of Directors in line with the
development of the Society. Past reviews have included the commissioning of independent surveys to
ensure appropriate benchmarking of pay awards. The last review was conducted in 2013.
OBJECTIVES AND ACTIVITIESThe objects of the Society are:
(a) to provide or assist in the provision of facilities and services for the public beneit for recreational,
sporting or other leisure time occupation in the interests of social welfare, healthy living and
education, such facilities being provided to the public at large save that special facilities may be
provided for persons who by reason of their youth, age, inirmity or disability, poverty or social or
economic circumstances may have need of special facilities and services, and /or
(b) to promote community participation in healthy living, and/or
(c) to advance the education of the public in the beneits of healthy lifestyles, and /or
(d) to advance the arts, culture and / or heritage, and / or
(e) to provide support services relating to the above, and / or
(f) to provide consultancy and advise to public, sporting and charitable organisations, and / or
(g) such other charitable purposes beneicial to the community consistent with the objects above as the
Trustees shall in their absolute discretion determine.
In 2015, GLL and its wholly owned subsidiaries worked in direct Partnership with the following Councils
and organisations delivering some of their public services including leisure centres, libraries, play centres
and children centres:
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This partnership approach with the various councils and organisations has been a key plank of our
success. However, each relationship is underpinned by a formal contract and each contract is subject
to termination dates and possible tendering for renewal.
In addition, GLL worked in partnership with fellow social enterprises:
Freedom Leisure Limited in delivering the services of 6 public leisure centres in the South and South
East for the following Councils:
• Crawley Borough Council
• Guildford Borough Council
• Woking Borough Council
• Allerdale Borough Council
• Bath and North East Somerset Council
• Belfast City Council
• Black Prince Trust
• Bridgend Borough Council
• Cambridge City Council
• Carlisle City Council
• Chiltern District Council
• City of Westminster
• City of York
• Copeland Borough Council
• Eden District Council
• Epsom and Ewell Borough Council
• Jubilee Halls Trust
• Greater London Assembly
• Henley Town Council
• London Legacy Development Corporation
• London Borough of Barnet
• London Borough of Camden
• London Borough of Ealing
• London Borough of Lambeth
• London Borough of Hackney
• London Borough of Hammersmith & Fulham
• London Borough of Hillingdon
• London Borough of Islington
• London Borough of Merton
• London Borough of Tower Hamlets
• London Borough of Waltham Forest
• London Borough of Wandsworth
• London Playing Fields Foundation
• Manchester City Council
• Newcastle City Council
• North Somerset Council
• Prestwood Sport and Leisure Association
• Reading Borough Council
• Reigate and Bansted Borough Council
• Royal Borough of Greenwich
• Royal Borough of Kensington & Chelsea
• Rugby Borough Council
• South Bucks District Council
• South Hams Council
• South Lakeland District Council
• South Oxfordshire District Council
• Swindon Borough Council
• Taunton Deane Borough Council
• Vale of White Horse District Council
• West Oxfordshire District Council
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Halo Leisure Limited in delivering services in 8 leisure centres for Bridgend County Borough Council.
Outside of partnership arrangements, GLL holds and manages a number of “stand alone” facilities
including:
• Charlton Lido under a 97 year lease (redeveloped over 2013/14)
• 7 stand alone affordable health and itness facilities under long term leases with more planned for 2016.
• Barking Sporthouse under long term lease
CORE PURPOSEGLL’s overarching aim is to deliver sustainable and affordable provision of facilities and services for the
public beneit for recreational, sporting, cultural and other leisure time occupation in the interest of social
welfare, healthy living and education.
GLL has adopted Four Pillars to frame our vision and mission:
1. Service Excellence à “BETTER SERVICE”
2. Strong Business à “BETTER BUSINESS”
3. Motivated, Engaged and Well Trained Staff à “BETTER PEOPLE”
4. Social Impact à “BETTER COMMUNITIES”
We seek to drive our business across all four of these objectives using a balanced scorecard to track our
progress and ensuring our Charitable Objectives are continuously met.
Service Excellence à “BETTER SERVICE”
GLL aims to:
- Operate facilities that are accessible by all sections of the community save that special facilities
may be provided for persons who by reason of their youth, age, inirmity or disability, poverty or
social or economic circumstances may have need of special facilities and services
- Provide a balanced programme and pricing of activities for sport, physical activities and cultural
services.
- Deliver services and facilities that are consistently rated as excellent as well as utilise quality
benchmarks such as Quest and the Customer Service Excellence Standard
Strong Business à “BETTER BUSINESS”
GLL aims to:
- Achieve stability and growth in our existing operations whilst developing new products and
markets including our online portals
- Continue to improve eficiencies and effectiveness, making sure our available resources are
maximised and put to best use
- Develop new business opportunities and partnerships where they can bring added value
- Continue to build on our existing partnerships for the long term
- Continue to invest into the leisure centre and Library buildings
- Build our asset portfolio
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Motivated, Engaged and Well Trained Staff à “BETTER PEOPLE”
GLL aims to:
- Train our staff well, pay our staff well and ensure they are engaged in the long term future and
success of our business and our mission
- Work with employment agencies and Sector Skills Councils to provide long term career
opportunities for local people within sport, leisure and cultural services.
- Develop our staff through continuous professional development through our own industry
accredited training college (the London Leisure College) and a suite of career-long academies
Social Impact à “BETTER COMMUNITIES”
GLL aims to:
- Work with volunteers, clubs, national governing bodies, health & social service organisations to
provide improved lifestyles, health and education for local communities
- Deliver across the environmental and sustainability agenda
- Promote the values that Social Enterprise can bring
- Promote the Olympic and Paralympic Games legacy agendas and ideals and to maximise the
associated beneits
- Acknowledge and reward young individuals with sporting talent through the GLL Sport
Foundation programme and associated partner schemes
- As a charitable organisation, GLL reinvests ALL surpluses into delivering our social aims
Wider Partnerships
GLL works closely with or seeks to have a relationship with many other partners in addition to our local
authority partners, these include:
• The London Mayors ofice, Greater London Assembly and the London Legacy Development Corporation
(LLDC)
• Sports and Recreation Trusts Association (Sporta)
• The Sector Skills Council, SkillsActive and the National Skills Academy
• Sport England
• Greenwich, Newham and Hackney Community Colleges
• Social Enterprise Coalition (SE UK)
• UK Active (FIA) and CIMPSA
• British Swimming / ASA, British Gymnastics, GB Basketball, British Basketball League, England
Basketball, GB Handball, England Netball, Badminton England, Volleyball England, British Fencing,
Squash England and other UK Sports Governing Bodies
We aim to support local and central government initiatives that promote the development of services for
the beneit of the wider community particularly in the areas of sport, health, culture and physical activity.
These aims and objectives are delivered through a range of strategies that are listed in GLL’s annual and 5
year Corporate Plans. These plans are managed by the Executive Director team and reviewed by the Board.
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ACHIEVEMENTS AND PERFORMANCEIn 2015, GLL continued the previous year’s momentum with a wide range of achievements and improved
performance.
With continued growth, mergers and the addition of new partnerships to the GLL family, the following
were the key highlights for the year:
• We started our operating partnership with Belfast City Council, which includes 14 leisure centres and an
investment strategy worth £105m across the city
• North Country Leisure became a wholly owned subsidiary of GLL, delivering services in Newcastle and
Cumbria
• Our new Extreme Sports Centre at the Sporthouse in Barking and Dagenham was launched
• Tone Leisure, based in Taunton, became a wholly owned subsidiary of GLL
• We began operating 6 leisure facilities in the City of Bath on behalf of Bath & North East Somerset
Council
• We launched the new £20m+ Greenwich Centre in partnership with the Royal Borough of Greenwich
• We launched the new £20m+ Hough End Leisure Centre in partnership with Manchester City Council
• We were named as the key sport and physical activity partner for Sport Relief 2016
• Our Health team were awarded two new contracts for the delivery of a Physical Activity Referral
Scheme and Young People Weight Management Programme
• We began operating a new partnership with Newcastle City Council, which included 4 leisure centres
• We launched Better Gym East Village on the Queen Elizabeth Olympic Park
• We were awarded preferred bidder status to operate 15 Libraries and support 30 Community Libraries
on behalf of Lincolnshire County Council
In summary, 2015 has been another successful year that has seen GLL continue to grow and deliver the
key requirements set out under our Corporate Plan Four Pillars.
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FINANCIAL REVIEWThe results for the year 2015 (January 1st - December 31st) are set out within these consolidated
inancial statements.
Overall GLL Society overachieved on its inancial targets. Turnover excluding the newly acquired
subsidiaries and excluding donations attributed from these grew by 31% in 2015 compared with 2014
to £215m. Including subsidiaries but excluding donations disclosures from the acquisitions, the GLL
consolidated turnover grew to £225m.
The net trading surplus from operating activities of the Society alone was £4.4 million for the year
representing a 2% margin (excludes donations disclosures relating to acquisitions and excludes
disclosures relating to pensions actuarial adjustments). On the same basis and including the subsidiaries
trading (part year), the net trading surplus was £3.5m (NCL declared a loss of £1.2m in the year whilst the
Tone Group declared a surplus of £277k).
Other key performance indicators (excluding NCL and Tone Subsidiaries):
- Total staff cost to income was 52% (2008 – 55.7%; 2009 – 52.8%; 2010 – 53.5%; 2011 –
52.1%; 2012 - 52.1%; 2013 – 51.5%; 2014 – 50.6%).
- The Balance Sheet shows a positive liquidity ratio and low gearing.
Reserves Policy and Social funds:The Board has considered the risks and opportunities and reviewed the level of cash reserves which it
deems prudent to maintain. The funds held are considered adequate for the coming year.
A strategy to increase the Company’s cash reserves and asset portfolio over the coming years has been
adopted by the Board to support investment plans and protect the organisation against future risks. GLL
will evaluate all opportunities as they arise with an aim to build our asset portfolio over time.
At 31 December 2015, the Society (parent company) had accumulated cash balance and working capital
of £21.8m.
The Society is in a relatively favourable cash low position because we receive some of our income in
advance of expenditure.
The Committee of Management recognise the need for a level of inancial reserves that will:
1. Allow for planned investment and other similar purposes;
2. Allow for cyclical maintenance expenditure which the Society has an obligation to incur under
various property leases; and
3. Shield the Society from the possibility of adverse unforeseen circumstances.
These unforeseen circumstances include a number of speciic events that have been identiied in the
Society’s Risk Register.
Social Bond IssueAs reported in the previous year’s account, GLL with sustainable bank Triodos successfully raised £5
million of capital funds through a social bond issue in 2013.
The ive-year bond pays 5% gross ixed interest per year. Investors were split evenly between retail
(54%) and institutional investors (46%) with support from the City of London Corporation Social
Investment Fund, Rathbone Ethical Bond Fund and the Bank Workers Charity. The minimum investment
was £2,000 or £200 for GLL employees.
As part of the bond issue and to provide comfort to investors, 2 inancial covenants were put in place.
We are pleased to report against these below:
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Net Asset Covenant
The Bonds incorporates a Net Asset Covenant which is designed to ensure that the Bond liability is
covered at least two times by the unrestricted net asset value of the Society. The rationale for the Net
Asset Covenant is to provide comfort to Bondholders by ensuring that GLL retains suficient ability to
liquidate or re-inance its assets to repay the Bonds at any time if necessary.
As at the 31st December, the bond liability was covered 3.1 times by the unrestricted net asset value of
the Society. This exceeds the covenant target.
Bond Interest Cover Covenant
The Bonds also include a Bond Interest Cover Covenant which is designed to ensure that the annual Bond
interest payable is covered at least ive times by available surpluses.
The surplus declared for 2015 covers the annual bond interest by more than 17 times and thus
comfortably exceeds the covenant target.
Pensions Disclosures
The FRS102 section 28 pension liability disclosed on the balance sheet jumped from £11m to £20.45m
in 2014 and reduced slightly to £19.8m at the year end (excluding subsidiaries). This movement is mainly
due to the change in discount rate. These pension disclosures relate to Deined Beneit schemes GLL is a
member of.
Pensions valuation and disclosures is a dificult and sometimes controversial topic but it is none the less
an important area that needs to be explained. It is important to appreciate how the LGPS and other DB
pension schemes work and how ongoing contributions requirements are calculated to ensure the scheme
remain or become fully funded in the long term.
FRS102 section 28 is an accounting standard in relation to the calculation and disclosure of company
pension scheme liabilities. It requires that employers make full provision for all pension scheme liabilities
on their balance sheet – both in respect of any outstanding employer contributions (there aren’t any)
and (more signiicantly) any attributable share of the pension scheme actuarial deicit in respect of
deined beneit schemes.
The FRS102 pensions liability calculation used for accounting purposes are based largely on the actuarial
Ongoing Basis calculations (such as inlation, life expectancy etc) but crucially differ in one key respect
– that of the discount factor used to arrive at net present value of any surplus or deficit. Whereas
the “Ongoing Basis” uses estimated actuarial investment returns based on past and expected future
performance, the FRS102 calculation uses a return based speciically on AA rated Government gilts. In
recent years, the FRS102 calculation has resulted in a signiicantly lower discount factor than the Ongoing
Basis – and therefore much higher net present pension scheme deicits. It is therefore quite common for
an organisation like GLL to take on a new local authority contract and a fully funded pension scheme
liability under the Ongoing Basis only to ind that this gives rise to a signiicant FRS102 deicit (which
needs full provision in the accounts) due to the speciic FRS102 discount factor required to be used.
The FRS102 liability is therefore based on the latest tri-annual Ongoing Basis calculations but is re-
calculated each year for the purposes of the annual accounts by the scheme actuaries based on
prevailing discount factors. The FRS102 discount factor used dropped in 2014 by 0.9% from 2013
causing a signiicant increase in the deicit disclosures on the balance sheet for 2014. The discount rate
grew by approximately 0.2% from 2014 reducing the deicit slightly for 2015.
Future employer contributions are calculated at each tri-annual actuarial valuation. The actuaries
calculate the scheme surplus or deicit based on prevailing assumptions around returns, inlation, discount
factors, life expectancy etc and then calculate the employer contribution required to a) maintain and
provide for current
13
and future pensions and b) reduce any deicit over time. The employer contributions required are
communicated to the employers and remain in place until the next tri-annual valuation. For all LPGS, the
last tri-annual actuarial valuation was carried out in 2013/14 and new rates set for 3 years from April
2014.
The employer contribution rates are therefore established by the actuaries on the Ongoing Basis and
have no direct linkage to the FRS102 calculations or provisions. To put it another way, a change in the
FRS102 provision does not on its own impact the employer contribution.
A few key points to note:
• GLL is up to date with all required employer contributions in all of its schemes.
• The majority of GLL’s employees in DB schemes are members of one of the LGPS schemes under
admissions agreements – these are subject to tri-annual actuarial valuations which then establish the
actuarial surplus or deicit and the required ongoing employer contribution rates.
• With a number of these schemes, GLL beneits from indemnities from the local authority which means
GLL has no liability for any scheme deicit in the event of a termination of the contract which gave rise
to the original transfer of staff to GLL. Regardless of these indemnities and because GLL has the risk on
luctuating employer contributions (unless capped), the deicits still have to be disclosed on the balance
sheet in accordance with FRS102.
• When GLL secures new contracts, it always takes on a fully funded pension liability calculated under the
actuarial Ongoing Basis.
• FRS102 requires a different method of calculating a pension scheme deicit – based on AA rated bond
yields rather than actuarial forecast investment returns. Due to this, FRS102 gives rise to signiicantly
higher deicit calculations for accounting purposes – however it is important to understand that
FRS102 is not the recognised actuarial method to calculate the necessary contribution rate and almost
certainly overstates the actuarial liability in the accounts.
• GLL’s required employer contributions only change every three years based on the tri-annual actuarial
valuation on the Ongoing Basis. Changes to the annual FRS102 valuation do not impact GLL’s
employer contribution.
• Government bond yields (on which the FRS102 discount factor calculations are based) are at extremely
low levels – this gives rise to higher net present pension scheme deicits. It seems more likely that
discount factors will increase rather than decrease further in future – which should mean deicits are
more likely to shrink rather than increase.
• GLL does have joint and several liability under most LGPSs in which its employees are members –
although we believe that the major employer (i.e. the local authority) provides an indemnity to third
parties against the failure of other third party employers.
In order to illustrate the differences between the valuation methods, GLL and its subsidiaries
commissioned the actuaries to evaluate the position of the funds under both “FRS102” for the accounts
and under the “ongoing basis” method and assumptions for DB schemes. The differences are shown
below (where an ongoing basis valuation was not obtained, the FRS102 igure is included for total
comparison purposes):
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PENSION FUND (£’000) FRS102 ONGOING BASIS DIFFERENCE
GLLLPFA (2,230) (713) 1,517
Royal County of Berkshire LGPS (789) (101) 688
London Borough of Barnet LGPS (133) 978 1,111
London Borough of Ealing LPGS (38) (29) 9
CITRUS Pension Plan (119) (223) (104)
London Borough of Camden LPGS (210) (101) 109
London Borough of Tower Hamlets LPGS (189) (127) 62
London Borough of Merton LGPS (519) (146) 373
Royal Borough of Greenwich LGPS (multiple agreements)
(13,791) (381) 13,410
Wiltshire LGPS 1 (Swindon) (282) (120) 162
Wiltshire LGPS 2 (Swindon) (1,216) (670) 546
Northamptonshire LGPS (Cambridge) (222) (173) 49
Total (19,738) (1,806) 17,932
TONEDevon (368) 712 1,080
Somerset (1,630) 823 2,453
Total (1,998) (1,535) 3,533
NCLCopeland (266) (266) 0
Newcastle 1 21 21 0
Newcastle 2 391 391 0
Total 146 146 0
GLL Group Total (21,590) (125) 21,465
As can be seen by the valuations in the table above, the difference is signiicant and material. It therefore
needs to be understood when evaluating GLL’s inancial position.
(Note – The balance sheet disclosure exclude the Newcastle Net asset position in these funds)
15
SOCIAL IMPACT AND PUBLIC BENEFITGLL is the UK’s largest leisure and cultural charitable social enterprise. We operate 230 facilities with a
diverse workforce of 10,000+. Our inherent social ethos, linked to our charitable objectives, ensures that
accessibility, affordability and equality are at the heart of our community provision.
In 2015, GLL welcomed in excess of 40 million visits to our facilities across our wide range of activities.
GLL’s Primary ActivityIncreasing participation and modernising provision in sport, leisure and cultural activities are identiied as
the golden threads across all of GLL’s divisions and services. GLL’s ambition is for more people to engage
with its services, more often. Increasing participation and improving services achieve outcomes which
support all of GLL’s four core Operating Pillars::
• Better Communities: Improving access to service, achieving social impact goals, reducing inequalities,
promoting empowerment, integration, cohesion, health and wellbeing.
• Better Business: Income generation, achieving client targets, increasing investment in services and
facilities.
• Better People: Creating new opportunities for employment, continuous professional development and
job satisfaction. Encouraging staff to give back to their communities.
• Better Service: Engaging new users, retaining existing users; providing better value and increasing
choice through varied programmes.
Social Objectives
The following statements encapsulate the organisation’s purpose and social aspirations.
• We exist to make community services, facilities and spaces better for everyone. That means providing
access to quality community leisure, culture, children’s services, sport and itness facilities.
• We’re a charitable social enterprise, which means we work for the beneit of the public, the
communities we work in, the environment, our staff and our partners
• We promote healthy and active lifestyles, giving communities access to facilities that help improve
their health and happiness through participation in activities. It could be gyms, libraries, playgrounds,
children’s centres or world-class venues such as the London Aquatic Centre and Copper Box Arena.
• As a charitable social enterprise, we invest in our communities. And it’s not just money: we also invest
time and effort in encouraging everyone to take advantage of our services.
GLL continues to strive to be the best at delivering social impact across all our partnerships. This social delivery
is a key ethos of the organisation and a relection of our commitment to the communities we serve.
Achieving Better Communities
Through the promotion, provision and delivery of quality community services, GLL will empower the local
communities in which it operates to achieve a better quality of life:
• Improve health and wellbeing by increasing participation in positive and physical activities and sport.
• Reduce inequalities and improve access by investing in services and facilities
• Nurture achievements and performance pathways through high quality services
• Promote learning and development within our services and in our staff
Outlined in this section of the business review are highlights of the programmes delivered in 2015 as well
as some key performance indicators.
In addition to the delivery of community programmes through the local staff teams of each facility we
operate, GLL has a dedicated team of Community Sport Managers, Outreach workers, Sport, Health,
Library and Children’s Centre specialists whose purpose is to reach out into the communities we serve and
deliver targeted speciic programmes.
16
Highlights for 2015 include:
Social Impact and Public Benefit – Community Engagement & Events
We continued to develop and grow a range of attractive and high quality leisure centre based sports
lessons & courses including Swimming, Athletics, Gymnastics, Basketball, Football and Racquets with over
90,000 participants receiving high quality coaching from beginner, improver and performance level every
week.
GLL is committed to actively promote and deliver Water Safety Lessons to all pupils who access our school
swimming programme. During our Better Water Safety Week we delivered Water Safety lessons to over
60,000 pupils in primary and secondary schools.
GLL provides extensive support to encourage increased use by nationally under-represented groups. This
includes promoting sport and physical activity to women & girls, disabled people and older generations.
Activity by GLL on 2015 has included, 11,000 “For the Girls” sessions, 7,000 Disability Sport Sessions and
Better Club Hubs in all GLL Regions for people aged 60+.
GLL supported a wide range of events and open days for library services in 2015. These included
National Libraries Day, World Book Night, Summer Reading Challenge, Book of the Month Challenge,
City Read London. Library usage and book issues at GLL managed libraries have both increased since we
commenced managing Library Services in 2012.
GLL hosted and supported over 450 community events throughout 2015. Examples include:
• ‘GLL Inspired’ events held in every GLL Region, to encourage the next generation of young athletes
and encourage active lifestyles for young people
• Sport & Activity events held to support International Women’s Day across GLL centres
• Delivering activities at partner events such as the Cambridge Big Weekend which attracted over 40,000
people and the Festival on the Fields in Islington which attracted over 8,000 people
• Over 5,000 children enrolled on the Summer Reading Challenge
• Adult sessions held in the libraries to support Adult Learners Week, English for Speakers of Other
Languages and a number of Arts Council funded exhibitions and activities
• National Bookstart Week was celebrated at all libraries
• Participation in the Hay Festival and Creative Writing Workshops held in our HMP Prison service libraries
• In addition to community events our sport and community teams delivered 3,800 hours of outreach to
reach out to target groups to encourage increased physical activity
GLL worked with over 100 local partners to help engage with communities and break down initial barriers.
Partners include; County Sports Partnerships, Interactive, Local Authorities, Public Health, Mencap, Age UK
and Youth Organisations.
Examples of such schemes include:
PROJECT NAME PARTNERSHIP TARGET GROUP KEY PARTNERSDementia friendly
swimming
Manchester, Hackney &
Tower Hamlets
People with early onset
of dementia
ASA, Alzheimer's
society
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Self-harm referral CarlisleYoung people with
mental health problems
SAFA (self harm
charity)
New life through sport Hackney
People who have
problems with
substance abuse
E. London Health
Foundation, UEL, LBH
‘Get Active’ Programme Waltham Forest Inactive 16-25 year olds London sport, LBWF
Activate – Mobile
Health Bus & Healthy
Schools Programme
Carlisle, Allerdale, Eden,
Copeland & South
Lakes
Inactive communities
Young people and
adults
Cumbrian Sport &
Physical Activity
Alliance
GLL Sport Foundation
During 2015, the GLL Sport Foundation continued to grow and is one of the Country’s largest
independent talent development schemes for young sports people. The GLL Sport Foundation has
extended its working partnership with SportsAid, Universities, Colleges and numerous National Governing
Bodies of Sport to ensure that our programme its with National Sport Development pathways for young
talented athletes.
The GLL Sport Foundation aims to support young people and sporting talent achieve their full potential
by reducing the inancial burden of training, competition and medical costs.
In 2015 1,720 talented young athletes beneitted from a £1m award pot through the GLL Sport
Foundation. The scheme remains a core part of our legacy programme for sport. Since London 2012, GLL
have supported 23% more young athletes with 22% increase in the inancial value of its support. After
helping 53 athletes develop to compete at London 2012, the GLL Sport Foundation has been supporting
a number of athletes who will go on to compete for Team GB at the Rio Olympic Games in 2016.
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Sport Relief & Swimathon
GLL played an active role in supporting major National Charity fundraising through sport. This includes
hosting a wide range of events in support of this year’s Sport Relief Games. The BBC kicked off the action
with a special night of Sport Relief TV presented live from the Copper Box Arena and the Aquatics Centre.
Negotiations in 2015 have already succeeded in securing a lead role for GLL as a National Sponsor for
Sport Relief 2016. This is a signiicant milestone for GLL as both a major contributor to this fund raising
cause and underlining GLL’s proile as a signiicant National operator.
GLL also played host Swimathon 2015 having the two largest participation venues in the UK; the London
Aquatics Centre and London Fields Lido. GLL have consistently been the largest and most successful host
for this National Event with many thousand of participants participating across 106 swimming pools.
GLL Community Foundation
GLL continues to be a pioneer in its sector and work to democratise the provision of sport and activity.
In 2015 it created a standardised community engagement mechanism which accesses new resources
(cash, volunteers and equipment/space) that allows people to realise their own local ‘active’ dreams. It
will create a new innovative model of increasing resource and capability in a community by empowering
residents and local organisations.
This model will be a catalyst in the leisure sector for increasing sport & physical activity in the community
and clearly deine and demonstrate GLL as a charitable social enterprise.
Its objectives are to:
• Generate stakeholder, customer and employee awareness of GLL social commitments and re-
investment in to its communities.
• Increase community participation and support local community’s needs in a way that differentiates
GLL from its competitors.
• Create an alternative source of funding for community focused/social impact projects.
• Develop a consistent and evaluated response to local demands and allow GLL to support projects that
add value and reinforce its core business.
• To provide an alternative and positive response by GLL to client and community demand for cash and
in-kind support for local initiatives.
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Social Impact and Public Benefit – EmploymentGLL provides employment for over 10,000 people. In 2015, we achieved the Investors in People Silver
award (previously bronze). Investors in People said: “Compared to many organisations we visit, GLL
applies its values and social enterprise principles to its workforce in a very genuine way. There is a deep
commitment to ‘growing our own’ managers. The workforce relects the local community that it serves
and there were many examples of people starting as frontline staff but through support and development
becoming supervisors and managers, either through GLL’s various schemes (e.g. the award-winning
Trainee Manager scheme and GTI) or through coaching”.
LocationWe aim to place employees in facilities near to where they live. Many of our facilities, especially within
Greater London, are in some of the most deprived areas in the UK. The latest Indices of Deprivation
Report from the Department for Communities and Local Government in 2010, lists seven of our London
locations as being within the top 10% of the UK’s most deprived areas: Hackney, Islington, Waltham
Forest, Tower Hamlets, Barking & Dagenham, Greenwich, Lambeth. Almost 70% of our staff live and
work in the same Borough. That % is higher (with the exception of Greenwich) in all of those deprived
areas. We believe that giving employment to those from deprived areas brings greater wealth and social
cohesion.
Local partnershipsOlympic Legacy is a key initiative for GLL and we operate two venues on the Queen Elizabeth Olympic
Park. Continuing our relationship with the LLDC (London Legacy Development Corporation), we are
looking at further initiatives to bring even more people from the surrounding areas into employment on
the Park. During 2015, GLL employed 269 people on the Park, 70 of which were new appointments. We
issue regular job updates to our partners from the Olympic Host Boroughs incl: Greenwich Local Labour
and Business Scheme (GLLaB); Tower Hamlets Local Labour Business Scheme; HVB Enterprise Centre (LB
Hackney’s business/labour scheme); Worknet (LB Waltham Forest’s business/labour scheme); London
Borough of Barking and Dagenham’s Skills and Employment department; London Legacy Development
Corporation.
Company-wide partnershipsWe recognise that different local communities often have speciic characteristics and issues. We work
closely with agencies/groups with local or specialist knowledge that provide direct access to those we are
trying to reach. Underpinning GLL’s entry-level recruitment strategy is our partnership with Jobcentre
Plus (JCP), the Northern Ireland Jobcentre and our membership of a Local Employment Partnership.
All of our entry-level vacancies are advertised across the JCP network and we work closely with their
regional representatives and account managers to ensure that they have a good understanding of our
organisation and our recruitment and training needs so that they can communicate these clearly to
potential applicants.
Socio-demographicsOur social ethos and charitable objectives ensure accessibility, equality and opportunity for all – and
as such we are an Equal Opportunities Employer with a commitment to bringing employment to those
who may otherwise be overlooked or not see a career as within their grasp. We aim for best practice and
accreditation where possible.
We also aim to offer long-term career development and progression by way of career paths for all our
current employees as well as our Trainee Management Graduate programme which fast-tracks talented
graduates to management positions. Our internal GTI (GLL Talent Initiative) scheme is available to all of
our non-senior staff who wish to progress their career. In 2015, nearly 50 GLL employees took part in our
GTI scheme with three gaining promotions following the scheme and the others working on development
plans to aid their progression.
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Included in our wider recruitment remit are speciic groups that we reach out to: BME, Women, Disability/
Learning Dificulties, Graduates and NEETs.
BMEPolicy Exchange, the UK’s leading think tank, claimed the UK’s BME population in 2014 to be at 14%.
The ONS states unemployment amongst the BME community at 13.9% for those aged 16+. GLL has
bucked this trend and hires more people from BME backgrounds than is the ratio for the UK population
as a whole. We are continuing to reach out to speciic BME groups through speciic initiatives within
Partnerships with large BME populations. In London, 33% of GLL’s workforce is from a BME background,
with 24% of our total UK workforce coming from BME backgrounds.
GenderGLL has been seeking to redress the balance of a male-dominated leisure industry by making our
environment, recruitment attraction, behaviours and customer attraction more female-friendly. GLL’s
‘For the Girls’ campaign, coupled with Sport England’s ‘This Girl Can’ campaign are making the leisure
and sporting environment more accessible and less intimidating places for women and girls to both
exercise and work. Flexible working patterns and casual hours have been an effective and attractive offer
for mothers returning to work and we are continuing to see an increase in the number of females that
we hire (with only a slight dip at Supervisory level) across all levels of the business. Women now make up
almost 55% of our workforce and nearly 35% of our management-level positions are held by women.
21
Disability/Learning DifficultiesDisabled people are underrepresented in the workforce and leisure in general. We know that people with
disabilities are less likely to have formal qualiications and more likely to be unemployed. This issue has
been a focus of our Workforce Equality Strategy. We’ve been delivering targeted programmes alongside
partners with specialist knowledge and access to this group.
We work with Remploy (a leading provider of employment services to the disabled), to identify and
make suitable adjustments for disabled applicants and employees. In 2015, we engaged in a 9-month
‘Steps into Work’ programme providing job coaching and work experience for 6 students with learning
disabilities. They gain life skills, such as improved communication and the ability to use public transport
to get to work. They also develop the ‘soft skills’ that are so vital in the workplace, such as reliability,
punctuality and a better understanding of social norms and acceptable behaviour at work. Following the
programme, all students are guaranteed an interview with GLL.
We also work with an organisation called Aspire, who run the Instructability scheme for people with spinal
injuries. The project helps to get disabled people into the workplace and provides them with free itness-
industry training, leading to an internationally recognised CYQ Level 2 Gym Instructor qualiication.
As part of the Disability Agenda, GLL successfully achieved the Two Tick Accreditation. It recognises
employers who have taken action to meet ive commitments regarding the employment, retention,
training and career development of disabled employees and is known by people with disabilities that we
are positive about disabled people and will welcome their job applications. In 2015, we employed 214
people with disabilities.
Graduates
GLL have supported the employment of graduates for over 20 years with our graduate Trainee
Management scheme. We’ve recruited over 140 people via the TM scheme. It’s a fast-track into
management and offers two years of experience in core roles within GLL as well as offering training,
qualiications and a salary. In 2015, there were 29 TMs on the scheme; almost 40% of Trainee Managers
are now working in management positions for GLL fulilling our long-term working relationship aim.
NEETs
GLL is committed to offering employment opportunities into our entry-level positions to those who
struggle to ind employment due to a lack of work experience and/or qualiications. We offer two main
routes to employment:
GLL Apprentice SchemeGLL continued to deliver our well-established apprenticeship programmes for Lifeguards, Customer
Service and Fitness Instructors. The scheme worked with training partners and GLL’s London Leisure
College (LLC) to deliver parts of the course such as the Level 2 National Pool Lifeguard Qualiication.
Following a training period, apprentices combine 12 months of work alongside study – for which they are
paid a salary. Apprentices undertake vocational qualiications such as an NVQ Level 2 in Active Leisure,
Learning & Wellbeing, Level 2 Award in Employment Awareness in Active Leisure & Learning and Level 2
in Leisure Operations amongst others. In 2015, GLL ran ive apprenticeship scheme cohorts plus extra ad
hoc apprentice recruitment across the UK. 64 individuals participated in the scheme with a far larger
scheme planned for 2016. Typically following the 12-month scheme, 68% of participants successfully
complete the scheme and gain employment with GLL.
22
The GLL AcademyThe Academy, run with our funding partner The Princes Trust, is an entry-level route into leisure as a
Recreation Assistant or Customer Service Assistant. Run in GLL leisure centres, they’re a mix of classroom
and practical training, recognised qualiications and supervised work experience. Previous participants
said that it has improved their self conidence, belief, self esteem and itness. Successful completion
usually leads to casual or full time employment with GLL. In 2015, 36 people went through the
Academies and 11 were successful in gaining employment with us.
Current Employees
We take our commitment to current employees very seriously and their well-being, training and
development remain an area of focus for the business. In 2015, c.2,000 staff gained new qualiications
and c. 4,500 staff completed various forms of in-house training and development modules. Social and
team bonding events are a key ixture of the GLL year and have a direct impact on employees building
strong working relationships. C. 2,500 employees attended our annual staff communications day with
staff across the UK attending various other social events from football tournaments to theatre trips.
23
2012 GAMES AND SPORTING LEGACY GLL committed to invest signiicant corporate energy into supporting the legacy opportunities arising
from the successes of the Olympic and Paralympic Games in 2012. In January 2013, we launched our
Corporate Legacy Strategy ‘GLL Inspired’ through to 2015. These enduring legacy programmes are
carried out in every partnership with GLL managed facilities and are amongst the most innovative within
the sporting sector.
‘GLL Inspired’, our corporate legacy strategy has 47 commitments covering the following service areas:
• Sport and Activity
• Community, health & inclusion
• Economy, employment and skills development
• Environment
• The Queen Elizabeth Olympic Park
Some headline targets and results from the ‘GLL Inspired’ commitment are reported as follows:
SPORT AND ACTIVITY TARGETS 2015 TARGET 2015 ACTUALRaising participation
Increased annual GLL visits. 40.5m 40.7m
GLL everyday sport sessions. 365 529
Support community and sport events. 400 414
GLL Sport Foundation (GSF) / talent pathways
Annual number of GSF supported athletes. 1,500 1,720
To provide GSF support in GLL partner Regions. 30 34
To extend GSF support to partner sport trusts. 3 5
SportsAid partnership. P P
Sports and activity brands
Core set of sport and activity brands in GLL partner regions. 30 34
Increase sports and activity course spaces offered. 2,500,000 3,680,000
Sport development and National Governing Bodies (NGB)
Formal memorandum of understanding with NGB’s 5 6
NGB partnership programmes in key regions. 5 6
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COMMUNITY, HEALTH AND INCLUSION TARGETS 2015 TARGET 2015 ACTUALProgrammes for young people
GLL “Kids for a Quid” in GLL partner regions. 30 34
Young people itness offer in GLL partner 30 34
Dedicated women / girls activity sessions (p.wk). 200 229
Free swimming
GLL free swimming initiative in GLL partner regions. 30 33
GLL ‘Swim Guarantee’ initiative in GLL partner regions. 30 33
People over 55 Years
GLL senior club in all partner regions 30 33
Hold annual GLL senior games tournament. P P
Disability Sport
One IFI registration in key GLL partner regions. 20 20
GSF / GLL support to key disability sport clubs. 6 5
To increase the Better Inclusive use by 5% per annum 4,000 6,300
Queen Elizabeth Olympic Park
GLL operate the London Aquatics Centre and Copper Box Arena in partnership with the London Legacy
Development Corporation (LLDC). Both venues have held a series of International and National Sporting
events as part of the legacy commitments from London 2012.
These events have included World, European, International and National Championships; including
Diving, Swimming, netball, basketball, Wheelchair Basketball, boxing, fencing and handball.
As well as host major events the venues also provide community activities and services. In 2015, over
1.3m people have used the two GLL managed venues, exceeding our legacy targets and making them the
most visited Legacy venues on the Queen Elizabeth Olympic Park.
25
GLL’S “GREEN AGENDA” GLL takes responsibility about the environment seriously. To this aim, each year we strive to reduce energy
consumption and our impact on the environment through investment into proven and new technologies
and the adoption of best practices.
In 2015 GLL continued our work on key environmental objectives through the delivery of our Strategic
Action Plan as well as the corporate plan. The key principles of reducing carbon emissions and energy use
remain core agenda items.
Waste and RecyclingGrundon Waste Services and their regional partners collected general waste and recycling from 90 GLL
Leisure Centres including new partnerships in Swindon, Bath and Manchester. The key objectives and
achievements in 2015 are below:
• Achieved zero waste to landill by the end of 2015 (within Grundon Contract)
• 21.4% Recycling rate by weight in 2015
• Long term goal to increase recycling to 50% by 2020
• Total number of 90 premises covered across 24 Partnerships
• Total waste collected 1,279 tonnes of waste collected under the contract
• 406 tonnes of CO2 saved in 2015 through energy recovery
GLL GREEN – Continuous ImprovementsGLL continues to invest. For example:
As part of the partnership with the London Borough of Islington a number of energy saving projects were
identiied and delivered in 2015:
• Pool cover replacements at Archway Leisure Centre
• Poolside lighting upgrade at both Archway and Cally Pools
• Air Handling system replacement at Archway Leisure Centre
• 250kW Solar Photo Voltaic array has been installed at Sobell Leisure centre that is due to reduce the
energy consumption at the centre by 200,000 kWh per annum and lowering Carbon emissions by 97
tonnes.
Investments in Cambridge have reduced energy use and Carbon emissions in 2015
• 10kWe Solar Panel installation at Cherry Hinton Village centre generating over 10,000kWh of electricity
per annum
26
• 30kW thermal Heat pump has been installed at Kings Hedges Pool, producing low carbon heat for
the swimming pool and saving 52 t/CO2 per annum. The heat pump had reduced electricity use by
50,000kWh in the irst 6 months of operation.
• The combined heat and power (CHP) unit at Parkside Pools has been fully refurbished and has reduced
the annual electricity consumption by 50%
• Carbon savings through the unit were over 130 t/CO2 in 2015
Other investments highlighted for 2016 include:
• Wantage Pool & Sports Hall LED lighting replacements
• Farringdon Sports hall LED light replacement
• Bath Sports Centre – upgrade of heating and ventilation
• Investigation into the use of natural Spa Water at Bath Sports Centre for swimming pool heating.
Energy use in like for like centres – Year on Year
In 2015 the utility consumption in like for like centres showed the following results against 2014:
• Gas consumption increased by 8.74% overall, a rise 12.5m kWh was recorded. The increases are partly
due to there being a 6% increase in the heating requirement based on lower average temperatures
and increased trade. It does however highlight the need for good practice and continued investment
across the organisation and this is featured in GLL’s corporate plan.
• Electricity consumption decreased by 1.8m kWh (-3.2%)
• Electricity savings exceed the GLL corporate target of an annual 2% reduction.
• Absolute carbon emissions increased due to the continued growth of the organisation, with GLL’s
carbon eficiency remaining very similar to 2014 at 426.9 tCO2e/£m
Carbon Efficiency & organisational changes
2015 brought the addition of a new partnership in Northern Ireland adding 14 new Leisure Centres, in
addition to the merger with Carlisle Leisure Limited.
New leisure centres in Greenwich, Kensington and the Bath and North East Somerset Partnership added
new premises under GLL’s responsibility in 2015 and these partnerships are now included in the total C02
igures below increasing GLL’s measured footprint by 22% .
The continued increase in energy supplies has seen the total Carbon Footprint for the organisation
increase signiicantly and will be relected in GLL’s reporting in 2016.
APRIL TO MARCH 2010-11 2011-12 2012-13 2013-14 2014-15Total Carbon Footprint (tCO2e) 47,345 52,495 57,063 57,000 69,739
GLL Turnover (prior full year audited) £93m £109m £123m £133m £163m
Carbon Efficiency tCO2e/£m turnover 507 481 464 427.4 426.9
Cumulative Change % 0.00 -5.15 -8.64 -15.77 -15.88
As the table above shows, although GLL’s total Carbon footprint has increased in the last 5 years by
approximately 47%, the eficiency of the facilities has increased when compared to turnover.
GLL’s turnover has increased by 75% over the broadly same period equating to a 15.9% reduction in the
amount of Carbon GLL emits per £1m of turnover.
Carbon Reduction Commitment Energy Efficiency Scheme
GLL registered a CRC Annual footprint of 69,739 t/CO2e in year 5 of the scheme (2014/15) which was the
second year of Phase 2.
27
The igure is signiicantly larger than previous years due to new partnerships that went live at the end of
2014 being included in the reporting for the irst time
The allowance cost for GLL was around £1.1m showing the signiicant impact of the scheme. A cost that
the society had to absorb.
Energy Savings Opportunity Scheme (ESOS) Legislation
In 2015 GLL and its subsidiaries were required to comply with new environmental legislation under
the Energy Savings Opportunity Scheme (ESOS). This involved ensuring 90% of GLL’s energy use was
covered by a recognised audit giving recommendations for energy saving measures.
Energy consumption included all fuels as well as transport emissions from company vehicles and travel.
Reporting to the Environment Agency was completed by the 5th December deadline through the
production display energy certiicates and their associated advisory reports.
Awards & RecognitionGLL continues to hold ISO14001:2004 and re-certiication was completed in October 2015 to include the
London Aquatics Centre in addition to the Copper Box Arena and 8 other premises across Islington and
Reading. A new version of the Standard ISO14001:2015 was published in 2015 and GLL will be making
the necessary changes to its Environmental Management System to ensure continued compliance.
This agenda is an on-going process that GLL is fully signed up to.
GLL also retained its accreditation to the Carbon Trust Standard in 2015.
28
LOOKING TO THE FUTURE AND DELIVERING OUR AMBITIONAs a charitable social enterprise, GLL’s social responsibility is central to each part of our business.
Everything we do is designed to ‘add value’ and improve the lives and health of the communities we
serve. It is important for us that the public understand the difference between GLL and some other types
of providers and we will work hard to demonstrate this difference in all we do.
Our vision is to be recognised as:• The Country’s leading inclusive sport, leisure and physical activity health provider
• The Country’s leading social enterprise provider of library and cultural services
• The Country’s leading social enterprise delivering social and environmental values and ethics
• The service provider of choice for our service partners, customers and communities
• A service provider that will consider further social enterprise opportunities and service sectors that will
beneit our aims and social impact
We will continue to work tirelessly to promote and protect the reputation and standards of genuine
charitable and social organisations within our sector and co-operatively work with others on this agenda.
GLL will continue to look to diversify services and interests in 2016, across expanded services, partnerships
and long term assets.
We will continue to look at innovation and new products within our sector and services to improve the
eficiency, effectiveness and accessibility of our offer. This will be increasingly important as we face
continued economic pressure on customer spend and local authority funding for public services.
As part of our commitment to the development and learning agendas for our employees, GLL plan to
launch new vocational training college partnerships in 2016 as well as expanding Apprenticeship and
route to work programmes.
29
STATEMENT OF THE COMMITTEE OF MANAGEMENT’S RESPONSIBILITIESThe Committee of Management are responsible for preparing the inancial statements in accordance
with applicable law and United Kingdom Generally Accepted Accounting Practice.
Society law requires the Committee of Management to prepare inancial statements for each inancial
year. Under that law the Committee of Management have elected to prepare the inancial statements
in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom
Accounting Standards and applicable law). The inancial statements are required by law to give a true
and fair view of the state of affairs of the Society and of the surplus or deicit of the Society for that
period. In preparing those inancial statements, the Committee of Management are required to
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material
departures explained in the inancial statements;
- prepare the inancial statements on the going concern basis unless it is inappropriate to
presume that the Society will continue in business.
The Committee of Management are responsible for keeping proper accounting records which disclose
with reasonable accuracy at any time the inancial position of the Society and to enable them to ensure
that the inancial statements comply with the Co-operative and Community Beneit Society Act 2014.
They are also responsible for safeguarding the assets of the Society and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Committee of Management are aware, there is no relevant information (as deined by the
Co-operative and Community Beneit Society Act 2014) of which the Society’s auditors are unaware,
and each committee member has taken all the steps that he or she ought to have taken as a Committee
Member in order to make himself or herself aware of any audit information and to establish that the
Society’s auditors are aware of that information.
The summarised inancial statements in this report are not the statutory accounts but a summary of
information relating to both the sofa and the balance sheet.
An audit has been carried out on the full inancial statements from which the summary is derived and the
audit report on the statutory inancial statements is not qualiied.
The full annual accounts, auditors report and the report of the committee management can be obtained
by contacting the secretary Mr P Donnay at the registered ofice address as shown in the summarised
inancial statements.
The annual accounts were approved by the board on the 19th May 2016.
The annual report and the statutory accounts have been iled with the Financial Conduct Authority.
ON BEHALF OF THE COMMITTEE OF MANAGEMENT:
J M Sesnan – Committee Member S Ward – Committee Member
Date: 19th May 2016
30
SECTION 2.INDEPENDENT AUDITOR’S STATEMENT TO THE MEMBERS OF GREENWICH LEISURE LIMITED We have examined the summarised inancial statements which comprise the summary balance sheets for
both the society and the group and the summary of inancial activities for both the society and the group
for the year ended 31 December 2015.
Respective responsibilities of the Committee of Management and the Auditor
The Committee Members are responsible for preparing the summarised inancial statement in
accordance with applicable United Kingdom law. Our responsibility is to report to you our opinion on
the consistency of the summarised inancial statement with the full annual inancial statements and the
Committee of Managements Report.
We conducted our work in accordance with Bulletin 2008/3 issued by the Auditing Practices Board. Our
report on the company’s full annual inancial statements describes the basis of our opinion which is
‘unqualiied’ on those inancial statements and on the Committee of Managements Report.
Opinion
In our opinion the summarised inancial statement is consistent with the full annual inancial statements
and the Committee of Managements Report of Greenwich Leisure Limited for the year ended 31
December 2015.
Clair Rayner FCA DChA (Senior Statutory Auditor)
for and on behalf of McCabe Ford Williams
Statutory Auditors and Chartered Accountants
Bank Chambers
1 Central Avenue
SITTINGBOURNE
Kent
ME10 4AE
Date: 19th May 2016
31
The accounts presented in this document represent summaries only of the Balance Sheets, Cash low and the Statement of Financial Activities.
The committee of management report in this document represents the complete report which can be found in the full annual inancial statements.
In addition, this document includes commentary on the group’s membership of deined beneit pension schemes.
For a complete set of accounts including notes and disclosures,please contact the Secretary.
Alternatively, a handful of copies of the full Report of the Committee of Management and audited Financial Statements for the year ended 31 December 2015 will be available for viewing before and after the Annual General Meeting on the 27th June 2016.
32
SECTION 3. - SUMMARY FINANCIAL STATEMENTS
BALANCE SHEET AT 31 DECEMBER 2015 – GLL SOCIETY ONLY AS AT 31ST DECEMBER 2015 AS AT 31ST DECEMBER 2014
£ £ £ £
FIXED ASSETS
Intangible assets 536,447 651,986
Tangible assets 31,747,080 29,348,359
Investments 12 1,011
Investment Properties 1,162,038 997,690
33,445,577 30,999,046
CURRENT ASSETS
Stock 278,044 196,907
Debtors within 1 year 27,083,279 19,068,689
Debtors after 1 year 8,202,945 7,003,397
Cash at bank and in hand 21,770,337 20,683,810
57,334,605 46,952,803
CREDITORS
Amounts falling due within 1 year 48,780,446 40,420,403
NET CURRENT ASSETS 8,554,159 6,532,400
TOTAL ASSETS LESS CURRENT LIABILITIES 41,999,736 37,531,446
Amounts falling due after more than 1 year (11,327,548) (11,668,879)
NET ASSET BEFORE PENSION LIABILITY 30,672,188 25,862,567
Pensions Liability 19,738,000 20,453,000
Funds:
General unrestricted funds 10,821,013 5,274,092
Share capital 40,075 36,575
Restricted funds 73,100 98,900
Total funds 10,934,188 5,409,567
30,672,188 25,862,567
The inancial statements were approved by the Committee of Management on the 19/05/16 and were signed by:
J M Sesnan - Committee Member S Ward - Committee Member P Donnay – Secretary
SUMMARY STATEMENT OF FINANCIAL ACTIVITIES - GLL SOCIETY ONLY (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
FOR THE YEAR ENDED 31 DECEMBER 2015 FOR THE YEAR ENDED 31 DECEMBER 2014 UNRESTRICTED
FUNDSRESTRICTED FUNDS FRS102S28
ADJUSTMENTS TOTAL FUNDS UNRESTRICTED
FUNDS RESTRICTED FUNDS FRS102S28
ADJUSTMENTS TOTAL FUNDS
£ £ £ £ £ £ £ £
INCOME RESOURCES:
Income Resources - Donations 425,587 - - 425,587 - - - -
Income resources from generated funds
Investment Income 196,454 - - 196,454 218,103 - - 218,103
Income resources from charitable activities:
Operation Income 214,633,334 134,191 - 214,633,334 163,083,211 56,659 - 163,139,870
TOTAL INCOMING RESOURCES 215,121,184 134,191 - 215,255,375 163,301,314 56,659 - 163,357,973
RESOURCES EXPENDED:
Cost of generating funds:
Investment management costs 24,091 - - 24,091 23,954 - - 23,954
Charitable activities:
Operation Cost 210,003,765 134,191 1,552,000 211,689,956 159,691,530 56,659 862,000 160,610,189
(Gains) /losses on settlements - - - - - - 476,257 476,257
Other resources expended 261,407 25,800 - 287,207 261,407 25,800 - 287,207
TOTAL RESOURCES EXPENDED 210,289,263 159,991 1,552,000 212,001,254 159,976,891 82,459 1,338,257 161,397,607
Net Income / (outgoing) resources before
other recognised gains & losses 4,831,921 (25,800) (1,552,000) 3,254,121 3,324,423 (25,800) (1,338,257) 1,960,366
Actuarial losses on deined beneit pension schemes - - 3,783,000 3,783,000 - - (8,114,000) (8,114,000)
Pension Deicit inherited on new contracts (1,516,000) (1,516,000)
Net Income after other recognised gains and losses 4,831,921 (25,800) 715,000 5,521,121 3,324,423 (25,800) (9,452,257) (6,153,634)
Shares issued 7,725 - - 7,725 7825 - - 7825
Shares Cancelled (4,225) - - (4,225) (375) - - (375)
Total funds brought forward 25,763,667 98,900 (20,453,000) 5,409,567 22,431,794 124,700 (11,000,743) 11,555,751
Total funds carried forward 30,599,088 73,100 (19,738,000) 10,934,188 25,763,667 98,900 (20,453,000) 5,409,567
The statement of inancial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended arise from acquired and continuing activities. 33
34
BALANCE SHEET AT 31 DECEMBER 2015 – GLL GROUP CONSOLIDATED
AS AT 31ST DECEMBER 2015 AS AT 31ST DECEMBER 2014£ £ £ £
FIXED ASSETS
Intangible assets 536,447 651,986
Tangible assets 39,273,252 29,348,359
Investments 12 1,011
Investment Properties 1,162,038 997,690
40,971,749 30,999,046
CURRENT ASSETS
Stock 353,236 196,907
Debtors within 1 year 26,738,486 19,068,689
Debtors after 1 year 8,202,945 7,003,397
Cash at bank and in hand 22,966,943 20,683,810
58,261,610 46,952,803
CREDITORS
Amounts falling due within 1 year 51,152,340 40,420,403
NET CURRENT ASSETS 7,109,270 6,532,400
TOTAL ASSETS LESS CURRENT LIABILITIES 48,081,019 37,531,446
Amounts falling due after more than 1 year (15,142,737) (11,668,879)
NET ASSET BEFORE PENSION LIABILITY 32,938,282 25,862,567
Pensions Liability 22,150,000 20,453,000
Funds:
General unrestricted funds 10,433,751 5,274,092
Share capital 40,075 36,575
Restricted funds 314,456 98,900
Total funds 10,788,282 5,409,567
32,938,282 25,862,567
The inancial statements were approved by the Committee of Management on the 19/05/16 and were signed by:
J M Sesnan - Committee Member S Ward - Committee Member P Donnay – Secretary
CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 20152015 (£) 2014 (£)
Net cash inlow from operating activities 12,543,316 12,576,275
Cash used in inancing activities 464,014 6,898,257
Cash used on investing activities (10,724,197) (17,122,049)
increase in cash in the period 2,283,133 2,352,483
Cash and cash equivalent at the beginning
of the year20,683,810 18,331,327
Total cash and cash equivalent at the end of
the year22,966,943 20,683,810
FOR THE YEAR ENDED 31 DECEMBER 2015 FOR THE YEAR ENDED 31 DECEMBER 2014 UNRESTRICTED
FUNDSRESTRICTED FUNDS FRS102S28
ADJUSTMENTS TOTAL FUNDS UNRESTRICTED
FUNDS RESTRICTED FUNDS FRS102S28
ADJUSTMENTS TOTAL FUNDS
£ £ £ £ £ £ £ £
INCOME RESOURCES:
Income Resources - Donations 425,587 - - 425,587 - - - -
Income resources from generated funds
Investment Income 190,693 - - 190,693 218,103 - - 218,103
Commercial trading operations 409,581 - - 409,581
Income resources from charitable activities:
Operation Income 225,036,155 155,568 - 225,191,723 163,083,211 56,659 - 163,139,870
TOTAL INCOMING RESOURCES 226,062,016 155,568 - 226,217,584 163,301,314 56,659 - 163,357,973
RESOURCES EXPENDED:
Cost of generating funds:
Investment management costs 24,091 - - 24,091 23,954 - - 23,954
Commercial Trading Operations 317,492 - - 317,492 - - - -
Charitable activities:
Operation Cost 221,366,733 263,574 1,978,000 223,608,307 159,691,530 56,659 862,000 160,610,189
(Gains) /losses on settlements - - - - - - 476,257 476,257
Losses on acquisitions (2,763,709) (350,019) 4,756,000 1,642,272 - - - -
Other resources expended 261,407 25,800 - 287,207 261,407 25,800 - 287,207
TOTAL RESOURCES EXPENDED 219,206,014 60,645 (6,734,000) 225,879,369 159,976,891 82,459 1,338,257 161,397,607
Net Income / (outgoing) resources before
other recognised gains & losses 6,856,002 216,213 (6,734,000) 338,215 3,324,423 (25,800) (1,338,257) 1,960,366
Transfer of funds 657 (657) - - - - - -
Re-measurement gains / (losses) on DB schemes - - 6,553,000 6,553,000 - - (8,114,000) (8,114,000)
Inherited pension deicit on new contracts - - (1,516,000) (1,516,000) - - - -
Net Income after other recognised gains and losses 6,856,659 215,556 (1,697,000) 5,375,215 3,324,423 (25,800) (9,452,257) (6,153,634)
Shares issued 7,725 - - 7,725 7,825 - - 7,825
Shares Cancelled (4,225) - - (4,225) (375) - - (375)
Total funds brought forward 25,763,667 98,900 (20,453,000) 5,409,567 22,431,794 124,700 (11,000,743) 11,555,751
Total funds carried forward 32,623,826 314,456 (22,150,000) 10,788,282 25,763,667 98,900 (20,453,000) 5,409,567
The statement of inancial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended arise from acquired and continuing activities. 35
SUMMARY STATEMENT OF FINANCIAL ACTIVITIES - GLL GROUP CONSOLIDATED (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
GREENWICH LEISURE LIMITED
Registered Company number: IP27793R (England and Wales)
Registered Charity number: XR43398
Registered office:
Middlegate House
The Royal Arsenal
London
SE18 6SX