2021-05-31-accounts - The Swimming Teachers Association Limited

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					Page
Reference and administrative		details	ofthe Company,	its Trustees and advisers
Trustees' report					2-7
Independent	auditors' report	on the financial statements			8-11
Consolidated	statement offinancial activities				12
Consolidated	income and expenditure		account		13
Consolidated	balance sheet				14-15
Company balance sheet					16-17
Consolidated	statement ofcash flows				18
Company statement ofcash		flows			19
Notes to the	financial statements				20-42

REFERENCE AND	REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	DETAILS	DETAILS	DETAILS	OF THE COMPANY, ITS TRUSTEES AND ADVISERS	OF THE COMPANY, ITS TRUSTEES AND ADVISERS	OF THE COMPANY, ITS TRUSTEES AND ADVISERS	OF THE COMPANY, ITS TRUSTEES AND ADVISERS	OF THE COMPANY, ITS TRUSTEES AND ADVISERS
				FOR THE YEAR ENDED 31							MAY 2021
Trustees				Dave Lewis, Trustee (appointed					6 November 2015)
				Ayo Akinwolere,		Trustee		(appointed		13April 2021)
				Mike Walters, Trustee (appointed					25		May 2017)
				Alison Beckman,		Trustee		& President			(appointed	11 December 2018)
				Joanne Bradshaw,			Trustee (appointed				5 December 2019)
Company		registered
number				01272519
Charity	registered
numbers				1051631and SC041988
Registered			office	Anchor House
				Birch Street
				Walsall
				West Midlands
				WS2 8HZ
Principal		operating		Anchor House
office				Birch Street
				Walsall
				West Midlands
				WS2 8HZ
Chief executive officer				Dave J Candler
Independent			auditors	Fraser Russell	Limited
				77 Francis Road
				Edgbaston
				Birmingham
				B168SP
Solicitors				Trowers & Hamlins			LLP
				10Colmore Row
				Birmingham
				B32QD

THE SWIMMING TEACHERS ASSOCIATION LTD IA company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 Achlevements and performancè a. Key perforniance indicators W8 are rjelighted lo ieport that the organisalion has iecoideis a surplus for the year of £45,34512020".£185,4151. This is in line with the Iruslees expeclolion$. b. Review of activitiès The activities of thè organisalion are continually reviewecs in order lo ensure that they are suitable and continuing to achieve our objectives as laid down in the business plan and slral8gy documènt. Each oclivily is reviewed by the management team and, il necessary, the Board of Trustees. Use of charitabl8 funds The Company has successfully defended a claim brought by Theo Millward. a formèr employee, In the Employment Tribunal. The full case dètails can be found al.. https../.9ov.uklempI0yMent4rlbUa1-d9¢lS1On51rrbr-IheQ.Mll1ward-v-Ihe-SW1mMIng-Ieache[S-a5sOClaIi0n-1Id- and-sla.resolule-lechnology-Ild-1304659-2015. At a co$t$ hearing held on 4th February 2019, the Company was successful in obtaining a eosls award against Theo Millward, whose actions were found lo be unreasonable and deliberate. Theo Mi15ward has now exhausted the various appea15 processes, all of which were dismissed. The costs assessrnent hearing had been listed for 19 & 20 October 2021 and this would have determined the amount of costs that Theo Milfvard had to pay lo the Company. However, this did not go as the parties agreed terms of settlement beforehand. As reported in previous years, the Company is pursuing a ¢laim against ils former Chief Executive Officer, Johrb Roger Mil8rd. valued at approximately £4 million in connection with alleged misrepresentation, unjust enri¢hmenVTeslilulion and breach of fiduciary dLJty in connection with unauthorised remuneration and other benefits, and expenses fraud {the Claim). Mr Millward is defending the Claim. He also brought Employment Tribunal proceedings against the Company, including a claim for unfair dismissal. Th8 Employmènt Tribunal proceedings are stayed pending the outcome of the Claim in the High Court. John Roger Milard entered into bankruptcy in May 2019 and has since been discharged. The Claim is currently stayed and John Roger milard'S Tiuslees in Bankruplcy's investigations into his affairs are continuing. The Company regulady updates the Charity Commission legarding the prre$S of the Claim and the Employment Tribun81 proceedin9S. The Trusteès are confidenl that the ongoing claim against John Roger Mil3rd will be a suc¢ess biinging in a SnifiCant amount ol cash lo the Company lo spend on il'5 charitabl8 objectives. On this basis, no fijrther provision for legal ¢0518 has been made in these financial statements. Flnancial review a. Golng Concern After making appropriate enquiries, the Tfuslees have a reasonable expectation that the Company has adequate resources lo Continue in operational &xislence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the going concein basis cAn be found in the accounting policies. Page 3

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
		Note	2021 f	2021	2021 f	2020f
Income from:
Donations and legacies				604,007	604,007	284,021
Charitable activities			9,295	1,111,342	1,120,637	1,897,751
Other trading activities				73,442	73,442	112,543
Other income				73	73	591
Tota I income			9,295	1,788,864	1,798,159	2,294,906
Expenditure on:
Raising funds				47,769	47,769	114,777
Chantable activities			9,295	1,698,085	1,707,380	1,994,713
Tota I expenditure			9,295	1,745,854	1,755,149	2,109,490
Net income before	taxation			43,010	43,010	185,416
Taxation		13				(2,335)
Net income after taxation				43,010	43,010	183,081
Pnor Year Adjustments				2,335	2,335
Net movement in funds				45,345	45 345	183081
Reconciliation offunds:
Total funds brought	forward			1,131,335	1,131,335	948,254
Net movement in funds				45,345	45,345	183,081
Total funds carried	forward			1,176,680	1,176,680	1,131,335

				Total funds	Total funds
				2021	2020f
Gross income	In the reporting	period		1,798,159	2,294,906
Less: Total expenditure				(1,755,149)	(2,109,490)
Net income before taxation for the reporting			period	43,010	185,416
Tax payable					(2,335)
				43,010	183,081
Net income for	the reporting	period

					2021		2020
			Note				6
Fixed assets
Tangible assets			14		504,238		524,219
					504,238		524,219
Current assets
Stocks			16	89,000		88,400
Debtors			17	167,401		321,999
Cash at bank and	in	hand		839,701		309,132
				1,096,102		719,531
Creditors: amounts	falling due within one
year			18	(196,685)		(84,478)
Net current assets					899,417		635,053
Total assets less	current liabilities				1,403,655		1,159,272
Creditors. amounts	falling due after more
than one year			19		(208,333)
Deferred Income			21		(18,642)		(27,937)
Net assets excluding		pension asset			1,176,680		1,131,335
Total net assets					1,176,680		1,131,335
Charity funds
Unrestricted funds			22		1,176,680		1,131,335
Total funds					1,176,680		1,131,335

					2021		2020
			Note		6
Fixed assets
Tangible assets			14		502,238		521,219
Investments			15		106		106
					502,344		521,325
Current assets
Stocks			16	89,000		88,400
Debtors			17	109,981		323,432
Cash at bank and	in	hand		838,492		307,771
				1,037,473		719,603
Creditors: amounts	falling due within one
year			18	(136,163)		(79,322)
Net current assets					901,310		640,281
Total assets less	current liabilities				1,403,654		1,161,606
Creditors: amounts	falling due after more
than one year			19		(208,333)
Deferred Income			21		(18,642)		(27,937)
Net assets excluding		pension asset			1,176,679		1,133,669
Total net assets					1,176,679		1,133,669
Charity funds
Unrestncted funds			22		1,176,679		1,133,669
Total funds					1,176,679		1,133,669

					2021	2020
					6
Cash flows from operating	activities
Net cash used in operating	activities				280,569	(113,930)
Cash flows from investing	activities
Purchase oftangible fixed assets						(13,628)
Net cash provided by/(used in) investing			activities			(13,628)
Cash flows from financing	activities
Cash inflows from new borrowing					250,000
Net cash provided by financing activities					250,000
Change in cash and cash	equivalents	in	the year		530,569	(127,558)
Cash and cash equivalents	at the beginning		ofthe year		309,132	436,690
Cash and cash equivalents	at the end	of	the year		839,701	309,132
The notes on pages 20to 42 form part ofthese financial				statements

		2021 6	2020f
Cash flows from operating activities
Net cash used in operating activities		280,721	(114,531)
Cash flows from investing activities
Proceeds from the sale oftangible fixed assets			(13,628)
Net cash provided by/(used in) investing	activities		(13,628)
Cash flows from financing activities
Cash inflows from new borrowing		250,000
Net cash provided by financing activities		250,000
Change in cash and cash equivalents in	the year	530,721	(128,159)
Cash and cash equivalents at the beginning	ofthe year	307,771	435,930
Cash and cash equivalents at the end of	the year	838,492	307,771
The notes on pages 20to 42 form part ofthese financial statements

Freehold property	- Nil
Motor vehicles	- Nil
Fixtures and fittings	- 10%
Computer equipment	- 25%
Other fixed assets (Regalia &	- Nil
Trophies)

			Unrestricted	Total
			funds	funds
			2021	2021
			f	6
Grants			599,174	599,174
Similar	incoming	resources	4,833	4,833
			604,007	604,007
			Unrestricted	Total
			funds	funds
			2020 5	2020f
Grants			271,471	271,471
Similar	incoming	resources	12,550	12,550
			284,021	284,021

				Restricted	Unrestricted	Total
				funds	funds	funds
				2021	2021	2021
					6	6
Income	from	charitable	activities	9,295	1,111,342	1,120,637
				Restricted	Unrestricted	Total
				funds	funds	funds
				2020	2020	2020
				5		5
Income	from	charitable	activities	85,371	1,812,380	1,897,751

					Unrestricted	Total
					funds	funds
					2021	2021
					E	E
	Sales	from subsidiary		undertakings	73,442	73,442
					Unrestricted	Total
					funds	funds
					2020	2020
					E
	Sales	from subsidiary		undertakings	112,543	112,543
6.	Other	incoming	resources

		Unrestncted	Total
		funds	funds
		2021	2021
		6	E
Interest	received	73	73
		Unrestricted	Total
		funds	funds
		2020	2020
Interest	received	591	591

					Unrestncted	Total
					funds	funds
					2021	2021
					6	E
Costs	of	raising	voluntary	income	(900)	(900)
					Unrestricted	Total
					funds	funds
					2020	2020
					8
Costs	of	raising	voluntary	income	15,548	15,548

		Unrestricted	Total
		funds	funds
		2021	2021
		9	6
Cost ofsales		47,512	47,512
Administration	expenses	157	157
Administration	depreciation	1,000	1,000
		48,669	48,669

		Unrestricted	Total
		funds	funds
		2020	2020
		E
Cost ofsales		98,062	98,062
Administration	expenses	167	167
Administration	depreciation	1,000	1,000
		99,229	99,229

				Restricted	Unrestricted	Total
				funds	funds	funds
				2021	2021	2021
				E	E	f
Direct costs				9,295	139,507	148,802
Wages &Salanes					1,061,642	1,061,642
Costs of Courses					72,776	72,776
Postage & Carriage					41,471	41,471
Repairs 8 Maintenance					217,926	217,926
Advertising	&	Marketing			58,890	58,890
Bank Charges					19,331	19,331
Insurances					54,993	54,993
Depreciation		& Contract	Hire Charges		31,549	31,549
				9,295	1,698,085	1,707,380

			Restricted	Unrestricted	Total
			funds	funds	funds
			2020 E	2020 f	2020f
Direct costs			9,295	224,525	233,820
Wages & Salaries			76,076	1,125,627	1,201, 703
Costs of Courses				110,567	110,567
Postage &Carriage				60,682	60,682
Repairs 8 Maintenance				159,303	159,303
Advertising	& Marketing			94,905	94,905
Bank Charges				32,551	32,551
Insurances				52,660	52,660
Depreciation	& Contract	Hire Charges		48,522	48,522
			85,371	1,909,342	1,994,713
Analysis of	expenditure	by activities

			Support	Total
			costs	funds
			2021 6	2021 f
Direct costs			148,802	148,802
Wages &Salaries			1,061,642	1,061,642
Costs of Courses			72,776	72,776
Postage & Carriage			41,471	41,471
Repairs & Maintenance			217,926	217,926
Advertising &	Marketing		58,890	58,890
Bank Charges			19,331	19,331
Insurances			54,993	54,993
Depreciation	& Contract	Hire Charges	31,549	31,549
			1,707,380	1,707,380

				Support	Total
				costs	funds
				2020	2020
				6	6
Direct costs				233,820	233,820
Wages & Salaries				1,201,703	1,201,703
Costs ofCourses				110,567	110,567
Postage &Carriage				60,682	60,682
Repairs & Maintenance				159,303	159,303
Advertising	&	Marketing		94,905	94,905
Bank Charges				32,551	32,551
Insurances				52,660	52,660
Depreciation		& Contract	Hire Charges	48,522	48,522
				1,994,713	1,994,713

				2021 E	2020f
Fees payable to the Company's	auditor	for	the audit ofthe Company's
annual accounts				6,582	6,332
Fees payable to the Company's	auditor	in	respect of:
All taxation advisory sennces not	included		above	300	300

				Group	Group	Company	Company
				2021 f	2020 f	2021 E	2020
Wages and	salanes			949,527	1,081,878	949,527	1,081,878
Contribution	to defined	contribution	pension
schemes				112,115	119,825	1 12,115	119,825
				1,061,642	1,201,703	1,061,642	1,201, 703

	Group	Group	Company	Company
	2021	2020	2021	2020
	No.	No.	No.	No.
Employees	31	41	31	41

								f	2021		2020f
Corporation	tax
Current tax	on net income for the year										2,335
Taxation on net income											2,335
The tax assessed for the year is the same as			(2020- the		same as)		the standard	rate	ofcorporation		tax in
the UK of 19%(2020- 19%).The differences			are	explained		below'
									2021		2020
								f
Net income	before tax							43,010		185,416
Net income	multiplied by the standard	rate of	corporation		tax	in the	UK of 19
(2020 —19%)								8,172		35,229
Effects of:
Non-taxable	income less expenses not	deductible		for tax	purposes,		other
than goodwill	and impairment							(8,172)		(32,894)
Total tax charge for the year											2,335

	Freehold	Motor	Fixtures and	Computer	Other fixed
	property f	vehicles	fittings 6	equipment 6	assets f	Total 6
Cost or valuation
At1 June2020	459,406	16,023	391,153	4,000	8,382	878,964
Disposals			(246,316)			(246,316)
At 31 May 2021	459,406	16,023	144,837	4,000	8,382	632,648
Depreciation
At 1 June 2020		16,023	337,722	1,000		354,745
Charge for the year			18,981	1,000		19,981
Qn disposals			(246,316)			(246,316)
At 31 May 2021		16,023	110,387	2,000		128,410
Net book value
At 31 May 2021	459,406		34,450	2,000	8,382	504,238
AI31May 2020	459,406		53,431	3,000	8,382	524,219

	Freehold		Fixtures and	Other fixed
	property 6	Motor vehicles	fittings f	assets E	Total E
Cost or valuation
At 1 June 2020	459,406	16,023	391,153	8,382	874,964
Disposals			(246,316)		(246,316)
At 31 May 2021	459,406	16,023	144,837	8,382	628,648
Depreciation
At 1 June 2020		16,023	337,722		353,745
Charge for the year			18,981		18,981
On disposals			(246,316)		(246,316)
At 31 May 2021		16,023	110,387		126,410
Net book value
At 31 May 2021	459,406		34,450	8,382	502,238
At 31May 2020	459,406		53,431	8,382	521,219

						Investments in
						subsidiary
	Company					companies f
	Cost or valuation
	At 1 June 2020					106
	At 31 May 2021					106
	Net book value
	At 31 May 2021					106
	At 31May 2020					106
16.	Stocks
			Group	Group	Company	Company
			2021 f	2020f	2021 f	2020f
	Finished goods and goods for resale		89,000	88,400	89,000	88,400
17.	Debtors
			Group	Group	Company	Company
			2021 f	2020 f	2021 f	2020 f
	Due within one year
	Trade debtors		126,664	79,771	57,993	37,395
	Amounts owed by group	undertakings			11,251	47,508
	Other debtors		2,270	6,587	2,270	6,487
	Prepayments and accrued income		38,467	235,641	38,467	232,042
			167,401	321,999	109,981	323,432

				Group	Group	Company	Company
				2021 f	2020	2021 f	2020
Bank loans				41,667		41,667
Trade creditors				59,241	32,602	51,650	32,132
Corporation	tax				2,335
Other taxation		and social secunty		22,757	23,906	22,757	23,906
Other creditors				3,284		3,386
Accruals and	deferred		income	69,736	25,635	16,703	23,284
				196,685	84,478	136,163	79,322

	Group	Group	Company	Company
	2021	2020 f	2021 f.	2020 f
Bank loans	208,333		208,333
Included within the above are amounts	falkng due as follows:
	Group	Group	Company	Company
	2021 f	2020 f	2021 f	2020 f
Between one and two years
Bank loans	41,666		41,666
Between two and five years
Bank loans	125,000		125,000
Over five years
Bankloans	41,667		41,667

Financial assets	Financial assets		Group 2021 f	Group 2020f	Company 2021 f	Company 2020f
Financial	assets measured	at fair value
through	income and expenditure		839,701	309,132	838,492	307,771

		Group 2021 f	Group 2020 f	Company 2021 f	Company 2020
Government Grants		18,642	27,937	18,642	27,937
Statement offunds
Statement offunds -current	year
	Balance at 1 June 2020 f	Income f	Expenditure f	Prior Year Adjustment f	Balance at 31 May 2021 f
Unrestricted funds
General Funds —all funds	1,131,335	1,788,864	(1,745,854)	2,335	1,176,680
Restricted funds
Restncted Funds - all funds		9,295	(9,295)
Total offunds	1,131,335	1,798,159	(1,755,149)	2,335	1,176,680

	Statement offunds -prior	Statement offunds -prior	year
	Unrestricted funds		Balance at 1June 2019	Income E	Expenditure f	Taxation	Balance at 31May 2020 E
	General Reserves	Funds - all funds	962,336 (14,082)	2,209,535	(2024, 119)	(2,335)	1,145,417 (14,082)
			948,254	2,209,535	(2,024, 119)	(2,335)	1,131,335
	Restricted funds
	Restricted Restricted	Funds 1 Funds 2		76,076 9,295	(76,076) (9,295)
				85,371	(85,371)
	Total offunds		948,254	85,371	(2,109,490)	(2,335)	1,131,335
23.	Summary	offunds
	Summary	offunds -current	year
			Balance at 1 June 2020 B	income 8	Previous Year Balance at 31 Expenditure Adjustment May 2021 8 8 8
	General funds Restricted funds		1,131,335	1,788,864 9,295	(1,745,854) (9,295)	2,335	1,176,680
			1,131,335	1,798,159	(1,755,149)	2,335	1,176,680

		Balance at				Balance el
		1June 2019 8	Income	Expendi lure 6	Taxation 8	31Mey 2020 E
General funds		948,254	2,209,535	(2,024,119)	(2,335)	1,131,335
Restricted	funds		85,371	(85,371)
		948,254	2,294,906	(2,109,490)	(2,335)	1,131,335

Analysis	ofnet assets between	funds
Analysis	of net assets between	funds	-current year
				Unrestncted	Total
				funds	funds
				2021	2021
					E
Tangible	fixed assets			504,238	504,238
Current assets				1,096,102	1,096,102
Creditors	due within one year			(196,685)	(196,685)
Creditors	due in more than one year			(208,333)	(208,333)
Provisions	for liabilities and charges			(18,642)	(18,642)
Total				1,176,680	1,176,680

Analysis	of net assets		between
				Unrestncted	Total
				funds	funds
				2020f	2020 8
Tangible	fixed assets			524,219	524,219
Current assets				719,531	719,531
Creditors	due within one		year	(84,478)	(84,478)
Provisions	for liabihties	and charges		(27,937)	(27,937)
Total				1,131,335	1,131,335

						Group	Group	Company	Company
						2021 f	2020f	2021	2020f
	Net income for the	year (as per Statement			of
	Financial Activities)					43,010	183,081	43,010	171,333
	Adjustments for:
	Depreciation charges					19,981	32,021	18,981	31,021
	Decrease/(increase)		in stocks			(600)	238	(600)	238
	Decrease/(increase)		in debtors			154,598	(114,734)	213,451	(114,789)
	Increase/(decrease)		in creditors			61,245	(214,536)	5,879	(202,331)
	Pnor Year Adjustment					2,335
	Net cash provided	by/(used		in) operating
	activities					280,569	(113,930)	280,721	(114,528)
26.	Analysis ofcash and cash equivalents
						Group	Group	Company	Company
						2021 f	2020 f	2021 f	2020f
	Cash in hand					839,701	309,132	838,492	307,771
	Total cash and cash		equivalents			839,701	309,132	838,492	307,771
27.	Analysis ofchanges		in net debt
							At 1 June		At 31 May
							2020 f	Cash flows f	2021 f
	Cash at bank and in	hand					309,132	530,569	839,701
	Debt due within 1 year							(41,667)	(41,667)
	Debt due after 1 year							(208,333)	(208,333)
							309,132	280,569	589,701

under non	-can	cellable operating leases as follows:		payments
			Group	Gmup
			2021	2020
			6
Not later than		1 year	7,098	11,122
Later than	1 year and not later than 5 years		16,069	14,377
			23,167	25,499

Principal sub	Principal sub	sidiaries	sidiaries	sidiaries
The following		were subsidiary			undenakings		of the Company
Names								Company number	Registered office or pnnclpal place of business				Principal	ecdvlty	Class of shares	Holding
STA Excel Limited								01282358	Anchor	House	Birch Street		General	secondary	Ordmary	100'A
									Walsag, West		Midlands,	WS2	educaoon	and
									SHZ				achvrbes	of
													professional
													membership
STA Resdute		Technology		Limited				07772175	Anchor	House.	Birch Street		orgeniseeons Business and		Ordmary	100%
									Walsag,	West	Midlands,	WS2	domasec	software
Aquacise	Limited							05544732	8HZ Anchor	House,	Birch Street,		dvslopment Dormant Company		Ordinary	100%
									Wslsag,	Wast	Midlands,	WS2
									SHZ
Register	ofAquabc Professionals					Limited		05788570	Anchor	House,	Birch Street		Dormant	Company	Ordmary	100%
									Walsag	West	Midlands,	WS2
									8HZ
Safety Trainmg		Awards	Limited					05544759	Anchor	House,	Birch Street,		Dormant	Company	Ordinary	100A
									Walsall,	West	Midlands,	WS2
									SHZ
Safety Training		Assess	Limned					11287449	Anchor	House,	Birch Street,		Dormant	Company	Ordinary	100'/
									Walsag,	West	Midlands,	WSZ
									8HZ

The financial results ofthe subsidia	nes for the year	were:
Names		Income	Expenditure	Net assets
		E	E	E
STA Excel Limited STA Resolute Technology Limited Aquacise Limited Register ofAquatic Professionals Safety Training Awards Limited Safety Training Assess Limited	Limited	73,442	(73,442)	2 1 1 1 1 100