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2022-12-31-accounts

BROOMFIELD PARK SWIMMING AND RECREATIONAL CLUB

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

COMPANIES HOUSE NUMBER: 2911208 CHARITY NUMBER: 1057118

Broomfield Park Swimming and Recreational Club Contents Page

Content Page Number
Charity Information 2
Trustees Report 3 to 11
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Exemption from Audit Report 15
Statement of Cash Flow 16
Notes to the Accounts 17 to 22

1

Broomfield Park Swimming and Recreational Club Charity Information

Organisation Name: Broomfield Park Swimming and Recreational Club Organisation Address: 7 Todhunter Terrace Barnet Hertfordshire EN5 5AH Company Number: 2911208 Charity Number: 1057118 Bankers: CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Independent Examiner: CB Plus SEIDS Hub Empire Way Wembley HA9 0RJ

2

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 2911208 (England and Wales)

Registered Charity number

1057118

Registered office

7 Todhunter Terrace Barnet EN5 5AH

Trustees

A Crowfoot Appointed Nov 2016 H McKibben Appointed Nov 2017 M Chilton Appointed Nov 2018

Company Secretary

B Laattoe

3

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Broomfield Park Swimming and Recreational Club Limited (hereafter “the Club”) is a company limited by guarantee, incorporated on 22 March 1994 and registered as a charity on 26 July 1996. The Club was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of new trustees

As set out in the Articles of Association the Trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting (AGM). All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM.

Induction and training of new Trustees

New Trustees undergo a series of briefings on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committees and decision making processes, resourcing and the latest financial position of the charity. Additionally, new Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisational structure

The Board of Trustees, which must have a minimum of two members, administers the Club.

The trustees delegate the day-to-day management of the Club to the Management Committee, headed by a Chair, financial controller and secretary. The Management Committee meets monthly. The members of the Club elect members to the Management Committee. Committee meetings minutes are issues to the Trustees as soon as is reasonably practical.

The Committee is still heavily reliant on a few dedicated volunteers and greater depth and support as needed to mitigate the risks of:

1). Unbalanced representation from across the club and

Related parties

Swim England is our National Governing Body and the Club is affiliated to the London Region and Middlesex County Amateur Swimming Association (MCASA). The Club is guided by the policies of these organisations and undertakes to comply with their policies.

4

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

Risk management

The Trustees have a risk management strategy, which comprises

Internal control risks are minimised by the implementation of procedures for the authorisation of all transactions. Procedures are in place to ensure compliance with health and safety of instructors, swimmers, volunteers and visitors to the pool venues. In addition, the Club complies with the policies and procedures of Swim England on the management and delivery of swimming coaching including appropriate lifesaving, pool supervision, safeguarding and Code of Conduct/Ethics.

OBJECTIVES AND ACTIVITIES

Objectives and Aims

The objective of the Club is to provide the teaching, development and practice of swimming and allied activities for its members and shall, where appropriate, be to compete. In the furtherance of these objects the Club is committed to treat everyone equally within the context of its activities. This shall be, for example, regardless of gender, ethnic origin, religion, disability or political persuasion, on any grounds. The Club has implemented Swim England’s Equal Opportunities policy.

The Club provides swimming sessions for all standards and the age range of its members is from under four to seventy-four. Regular training schedules are held each week for its Development, Junior, Senior and Masters Squad members. It is also important to the Club to cater for its Active members that swim for recreational rather than competitive reasons, however it is recognised by the club that more needs to be done in this area and what we offer the Active swimmers isn’t where we want it to be. The Club continues to provide a successful 'Learn to Swim' programme for those under 10, the club hasn’t the capacity to offer learn to swim for older children and adults

The Club is very dependent on voluntary help. We estimate that without its volunteers the Club would require at least two full-time members of staff to undertake its day-to-day operations at a cost estimated to be between £30,000 and £40,000 per annum. Besides those volunteers serving on the management committee, volunteers assist with entering and officiating at galas.

5

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

ACHIEVEMENTS AND PERFORMANCE

Background

In 2022, our club experienced its first full year back in action following the challenges posed by COVID-19. This allowed us to resume our regular schedule throughout the year, including attending galas. While we aimed to return to a 'normal' approach, some lingering effects were still evident, such as lower membership numbers and gaps in our coaching and teaching staff coverage.

Financially, we've managed to recover to levels similar to those in 2019, with total outgoings amounting to £131.5K and income reaching £137K. This resulted in a modest surplus of 4%, equivalent to £5.6K. This surplus aligns perfectly with our target of achieving a margin of + or - 5%, which is essential for us to break even. It's crucial to note that our income is primarily dependent on our membership numbers and the fees collected from our swimming programs.

As we look ahead to 2023, we anticipate significant increases in two of our largest cost areas: pool hire and staff rates. In response, we have adjusted our swimming fees accordingly with the goal of meeting our financial objective of breaking even.

Overall membership

Membership at the end of 2022 showed good progress in building back after the Covid disrupted years. Numbers directly impact our finances as swimming fees are our only source of regular income.

Numbers at the end of each year:

2018 2019 2020 2021 2022
Learn to Swim 150 119 88 90 109
Competitive Swimmers 102 91 76 44 79
Active Swimmers 32 40 37 15 38
Adults/Masters 45 35 34 20 28
Total 329 285 235* 169 254

Putting Covid to one side, the numbers are unlikely to return fully to the 2018 levels due to the lack of pool time, no Mondays and for squads only a late Tuesday session. The impact is most noticeable in the lower Learn to Swim and Development numbers.

Club membership is not limited other than by practical constraints on the number of swimmers in the pool at any one time. QE Boys are continuing with max 40 swimmers bather load ,which is out of line with the Swim England Covid guidelines c.100+ for a pool of the size. A long term limit of 40 is unsustainable without further increasing fees, work continuing with QE Boys on bring the max load inline with SE guidelines.

6

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

Adult swimmers

The Adult programme (Adults & Masters) focuses on both improving general swimming skills and fitness. In this and its other programmes the Club caters both to swimmers whose principal motivation is recreational as well as to competitive swimmers. There are a few club Masters that compete and achieved successful results in competitions. A number of the Club’s Masters also participate in Open Water swimming events.

Learn to Swim

Our Learn to Swim (LTS) numbers don’t seem adversely effected by re-positioning against local competition with fees moving up significantly to aligned with local competition. Direct comparisons are always difficult e.g. ratio’s often differ and we often provide more weeks than Swim Schools, as we run as many as the school term allows. There was a drop in options for parents with a large swimming school closing, which may have supported our numbers. A new one may be starting in 2024 with QE Girls re opening, one to keep a close eye on as that will put pressure on swimmer numbers but also teacher and coaches.

Learn to Swim also provides a fantastic opportunity for our swimmers over 14 yrs. old to become water Helpers and progress on to Teachers and Coaches.

Competitive swimming

2022 saw a full year of Galas, which were well attended.

The development squad continues to be adversely impacted by the lack of early evening pool time. Extra early time did become available time on Wednesday’s but that does mean our Development offer is Wednesday, Thursday and Friday , not an ideal spread across the week. We continue to look for Monday and early Tuesday pool time for the development squad.

Juniors and Seniors are well supported within the club financially and with the quality of coaching.

Active swimmers

Active is for those swimmers just wishing to swim for fitness and to improve swimming skills rather than to swim competitively. The club continues to struggle to balance the needs of the Active with those of the competitive swimmers, active squad often reduced to 1 lane with a wide age and standard. Continued work needed to resolve

7

Broomfield Park Swimming and Recreational Club Trustees Report

For the year ended 31[st] December 2022

Training and development

The Club encourages and supports the continued development of its water helpers and coaching staff to provide sufficient staff to teach and coach at all levels from Swim School to Senior Squad and Masters.

All coaches and teachers supported to gain a lifesaving qualification (NRASTC) by fully funding the course and they are encouraged to hold this qualification by paying a hourly supplement to their coaching rate.

The Club is also encouraging Adult Members and Parents to gain qualifications as swimming officials as it is important that the Club can provide its own complement of officials to support the galas that it enters.

The club spent c. £1,100 on training which is low and indication of the gap in the flow of progression due to Covid, usually c. £3,000 for the year.

Committee and Coaching team

The normal progression and turnover has been impacted by covid: We weren’t able to run water helper courses and bring through an annual wave of waterhelpers, this gap will have adverse implications over the next few years.

The club would not be in existence without the time and efforts from the Committee. Greater efforts are needed to fill the vacancies that are present and share out the work load. The gaps do impact the smooth running of the club, its is more reactive than planned. We carry a high risk of individuals stepping down, particularly as parents children stop swimming.

Fund raising

Over £1,000 was raised through running a raffle and party, the proceeds of which are used to support the gala costs.

8

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

FINANCIAL REVIEW

Reserves position

Reserves are needed to mitigate the risk of funding gaps between the hire of recreational facilities and receiving fees from members. The Trustees have established the appropriate level of reserves to cover a term’s (or 1/3 of annual) expenditure and protect the long term financial viability of the Club against for example the loss of our main pool for a long period of time or a sudden drop in numbers.

As at 31 December 2022 the reserves of the charity are appropriate. The Trustees set the committee the goal of maintaining the financial status quo by breaking even in 2022.

Investment powers and policy

Under the Memorandum and Articles of Association, the Club has the power to invest in any way the Trustees wish. The Trustees, having regard to the liquidity requirements of the charity and to the reserves policy, have operated a policy of keeping available funds in an interestbearing deposit account although bank interest rates continue to be extremely disadvantageous for savers.

Financial review

Income and outgoings during 2022 stabilised from the high level of uncertainty with covid in 2021. Our outgoings and income were broadly inline c.£130,000 turnover and we made a small surplus.

Looking forward, 2023 started with increases in pool hire costs across all pools, due to the energy crisis and the need to increase pay rates. Consequently we had to implement fees increases to all groups from the start of 2023 . We continue to strive to keep any increases to a minimum by focusing our efforts on building numbers. But, with no obvious prospect of increased pool time, options to build number are limited. So understanding our numbers and therefore our income is key to our financial operating position.

The club does need to face into the financial imbalance that has always been present but has become wider in recent years. The traditional pyramid shape to a swimming clubs, higher numbers at the younger age groups supporting the pool time of the older competitive swimmers has and is continuing to change for us. It is a situation we need to address even if we were able to increase numbers at the lower age groups (which is hampered by lack of early pool time) to give a fairer and better balanced club. All the support is given to the older competitive swimmers (Juniors and Seniors), whilst active swimmers of the same ages don’t get any support. Junior and Seniors have fees which equate to c.£2.60 per hour for their coached pool time; the true cost is more than double that and covered by other squads and LTS.

We have no other income than swimmers fees.

9

Broomfield Park Swimming and Recreational Club Trustees Report For the year ended 31[st] December 2022

FUTURE DEVELOPMENTS

The Club plans to continue the activities outlined above in the forthcoming years in line with its stated objectives and aims to do this in a financially sustainable manner. This includes the target of continuously improving our offer.

10

Broomfield Park Swimming and Recreational Club Independent Examination Report For the period 31[st] December 2022

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

    1. to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Signature: ………………………………………….

Name: Keisha Chidziva

Date: 29/09/2022

Professional Qualification: BSc Applied Accounting

Address: CB Plus

SEIDS Hub, Empire Way, Wembley, HA9 0RJ

12

Broomfield Park Swimming and Recreational Club Statement of Financial Activities For the year ended 31[st] December 2022

Notes
Income from:
Donations
2
Charitable activities
3
Other Trading Activities
4
Investment Income
5
Other Income
Total Income
Expenditure on:
Raising Funds
6
Charitable Activities
7
Total Expenditure
Net Expenditure
Total Brought Forward
Total Carried Forward		 Unrestricted
Funds
2022
£
700
135,492
584
128
-
136,904
(684)
(130,612)
(131,296)
5,607
52,612
58,219		 Total
Funds
2022
£
700
135,492
584
128
-
136,904
(684)
(130,612)
(131,296)
5,607
52,612
58,219		 Total
Funds
2021
£
4,070
83,982
256
2
88,310
(298)
(74,857)
(75,155)
13,155
39,457
52,612

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Broomfield Park Swimming and Recreational Club Cash Flow Statement For the year ended 31[st] December 2022

`
Notes
Net Cash inflow/(outflow) from Operating Activities
8
Cash flow from investing activities:
Interest
Net Cash provided by investing activities
Cash Flow from financing activities:
Change in cash and cash equivalents in the year
Cash and Cash Equivalent brought forward
Cash and Cash Equivalent carried forward		 Total Funds
2022
£
1,913
128
127.58
-
2,040
53,242
55,283		 Total Funds
2021
£
12,602
2
2
-
12,604
40,638
53,242

16

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Broomfield Park Swimming and Recreational Park meets the definition of a public benefit entity under FRS 102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. After due consideration, it was concluded that no restatement of the comparatives was required.

The financial statements have been prepared on a going concern basis. In arriving at this conclusion, the trustees have considered any material uncertainties that may affect the charity’s ability to continue as a going concern.

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Funds Structure

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the funder.

Income recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grants and Donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Donations represent voluntary amounts received during the year.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.

17

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

1. ACCOUNTING POLICIES (continued)

Trade Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Trade Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Fixed Assets

The charity does not own any fixed assets

2. Donations

Unrestricted Total Total
Funds Funds Funds
2022 2022 2021
£ £ £
Donated Services 700 700 4070

3. Charitable Activities

Fundraising
Gala Income
Gifts and Collections
Swimming Fees
Gala Kit
Training
Other Income
Gala Entry Refund		 Unrestricted Funds 2022
£
1,259
15,869
-
114,208
1,365
-
2,525
267
135,492		 Total Funds 2022
£
1,259
15,869
-
114,208
1,365
-
2,525
267
135,492		 Total Funds 2021
£
6,634
3,906
135
72,394
613
300
-
-
83,982

4. Other Trading Activities

Shop Income Unrestricted
Funds
2022
£
584		 Total
Funds
2022
£
584		 Total
Funds
2021
£
256
18

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

5. Investment Income

Unrestricted
Funds
2022
£
Bank Interest
128
. Expenditure on Raising Funds
Unrestricted
Funds
2022
£
Cost of Goods Sold
(684)
(684)		 Total
Funds
2022
£
128
Total
Funds
2022
£
(684)
(684)		 Total
Funds
2021
£
2
Total
Funds
2021
£
(298)
(298)		 Total
Funds
2021
£
2

6. Expenditure on Raising Funds

19

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

7. Expenditure on Charitable Activities

. Expenditure on Charitable Activities
Banking Fees
Gala Entry Costs
Gifts and Collections
Instructors
Swimming ASA Fees
Pool Hire
Equipment
Training
Swimming Fees
Gala Expenses
Gala Travel Cost
Independent Examiners Fees
Webservice
Covid-19 Support
Covid Costs
Staff Shirts
Staff Kit
Gala Kit
Admin
Fundraising
Swim England Fees
Other Expenditure		 Unrestricted
Funds
2022
£
(81)
(13,662)
(110)
(36,953)
0
(64,532)
(90)
(1,077)
0
(1,701)
0
(900)
(963)
0
0
0
(419)
(1,143)
(429)
(338)
(5,691)
(2,525)
(130,612)		 Total
Funds
2022
£
(81)
(13,662)
(110)
(36,953)
0
(64,532)
(90)
(1,077)
0
(1,701)
0
(900)
(963)
0
0
0
(419)
(1,143)
(429)
(338)
(5,691)
(2,525)
(130,612)		 Total
Funds
2021
£
(96)
(3,625)
(30)
(22,714)
0
(33,568)
(637)
(2,117)
0
0
(412)
(800)
(21)
(3,862)
(1,546)
(373)
0
(526)
(80)
(191)
(4,260)
0
(74,857)

20

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

8. Reconciliation of the Net Incoming / (Outgoing) Resources to Net Cash Inflow/(Outflow) from Operating Activities

Net (outgoing)/lncoming resources
Depreciation Charges
Interest Received
(Increase)/ decrease in debtors
(Increase)/decrease in inventory
Increase/ (decrease) in creditors
Net cash inflow/ (outflow) from operating activities
9. Debtors
Prepayments
Accrued Income
10. Creditors: Amounts falling due within one year
Accruals
Deferred Income		 2022
£
5,607
0
(128)
(1,405)
(53)
(2,109)
1,913
2022
£
6,130
-
6,130
2022
£
3,431
3,431		 2021
£
13,155
0
(2)
(4,725)
297
3,877
12,602
2021
£
4,725
-
4,725
2021
£
5,153
386
5,540

21

Broomfield Park Swimming and Recreational Club Notes to the Financial Statements For the year ended 31[st] December 2022

11. Movement of Funds

Unrestricted Funds
General Funds		 Opening
Balance
£
52,612		 Incoming
Resources
£
136,904		 Resources
Expended
£
(131,296)		 Closing
Balance
£
58,219

12. Trustees

The Trustees do not receive any remuneration in respect of their role as Trustees.

22