APPENDIX A Pentro TENBY & DISTRICT POOL REGISTERED CHARITY COUNTY HALL HAVERFORDWEST STATEMENT OF ACCOUNTS 2024-25
INDEX Introduction Objectives, Third Party Relationships & Policies Statement of Responsibilities Certificate of Director of Resources Independent Examiner's Report Independent Examiner's Opinion Explanatory Foreword Summary Outturn Statement of Accounting Policies & Procedures Statement of Financial Activities Balance Sheet & Notes Cash Flow Statement PAGE 3 3 4 5 6 7 7 8-10 11-12 13-14 14
INTRODUCTION The present Terby & District Swimming Pool Trust (Registration No. 1064340) was established in June 1997 when all land and buildings were vested in Pembrokeshire County Council, County Hall, Freemans Way, Haverfordwest, Pembrokeshire, SA61 1TP as Trustee who, as a corporate body, operate the land and buildings as a separate charity. OBJECTIVES, THIRD PARTY RELATIONSHIPS & POLICIES The objective of the Trust is the provision and maintenance of a swimming pool for the use of the inhabitants of Tenby and the neighbourhood. The strategic development of the Trust is included in Pembrokeshire County Council Leisure Strategy. Day to day operations are governed by the County Council's employment, health and safety, risk management, financial and other procedures. All loans and investments are made in accordance with the County Council's treasury management policies and procedures. A separate bank account is not maintained for the Trust. All receipts and payments are made from the County Council's bank account but being separately recorded in the Council's and the Trust's accounts with personal accounts maintained to show the extent of indebtedness of either party at any one time. STATEMENT OF RESPONSIBILITIES FOR THE STATEMENT OF ACCOUNTS The Trustees' Responsibilities The Council as Trustee is required: • to agree the strategic framework within which the Trust operates • to make arrangements for the proper administration of its financial affairs and to secure that one of its officers has the responsibility for the administration of those affairs. In respect of the Trust, that officer is the Director of Resources for Pembrokeshire County Council • to manage its affairs to secure economic, efficient and effective use of resources and safeguard its assets • to prepare the Annual Report /Accounts of the Trust • consider and approve the Statement of Accounts The Director of Resources Responsibilities The Director of Resources is responsible for the preparation of the Trust's statement of accounts which have been prepared in accordance with "Accounting and Reporting by Charities - Statement of Recommended Practice" (SORP). In preparing this statement of accounts, the Director of Resources has; • selected suitable accounting policies and then applied them consistentiy; • made judgements and estimates that were reasonable and prudent; • complied with the SORP; • ensured that proper accounting records were maintained which were up to date; • taken reasonable steps for the prevention and detection of fraud and other irregularities. 3
CERTIFICATE OF DIRECTOR OF RESOURCES The Statement of Accounts of the Tenby Pool Trust for the year ended 31 March 2025 is produced in accordance with the requirements of the Charities Act 2011 and associated regulations. I certify the accounts present a true and fair position for the year and append my signature to the Statement In accordance with Section 132 (1). J HASWELL FCCA DIRECTOR OF RESOURCES Date: 15 December 2025
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF TENBY AND DISTRICT SWIMMING POOL TRUST 2024-25 I have completed the independent examination of the Financial Statements of Tenby and District Swimming Pool Trust for the year ended 31 March 2025 which comprise the Statement of Financial Activity, the Balance Sheet, the Cash Flow Statement and the related notes. The Financial Reporting Framework that has been applied is in accordance with appropriate accounting standards and policies Respective Responsibilities of Trustees and the Independent Examiner The Trustees are responsible for the preparation of Financial Statements. The Trustees have determined that for this financial year an audit is not required under Section 144(1) of the Charities Act 2011 and that an independent examination is needed. It is therefore my responsibility as the appointed Independent Examiner to: - Examine the accounts in accordance with the requirements of Section 145 of the Charities Act - To follow the procedures laid down in the general directions and guidance of the Charity Commission - To state whether particular matters have come to my attention Since your charity's gross income exceeds £250,000 your examiner must be a member of a listed body. I can confirm that I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. Basis of Examiners Statement My examination was carried out in accordance with the 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 careful consideration of any unusual items or possible discrepancies in the accounts and seeking explanation of such matters. The procedure undertaken does not provide all the evidence that would usually be required of an audit and consequently no opinion can be given on whether the accounts represent a true and fair view. Independent Examiners Statement of Opinion In my opinion the information contained in the Trustees Annual Report, which includes the Tenby & District Swimming Pool Trust Statement of Accounts for 2024-25 is consistent with the Financial Statements provided. 5
In connection with my examination of the 2024-25 Financial Statements no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirement to keep accounting records in accordance with Section 130 of the Charities Act or to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met. Full Name: D.I.J EYNON FCCA Address: Signature: Dated: 17/1/2/25
EXPLANATORY FOREWORD The Trust's accounts for the year 2024-25 are set out on pages 8 to 14. They consist a) Statement of Accounting Policies. b) Statement of Financial Activities that shows all the incoming resources and resources expended by the Trust in the year. c) The Balance Sheet - which sets out the financial position of the Trust on 31 March 2025. d) The Cash Flow Statement - which summarises the inflows and outflows of cash arising with third parties from revenue and capital transactions. SUMMARY OUTTURN Expenditure Income Net Revenue Expenditure / (Income) Capital Expenditure Actual 2023-24 451,741 (451,741) Nil NIl Estimate 2024-25 449,760 (449,760) Nil Nil Actual 2024-25 € 426,766 (426,766) Nil Nil
STATEMENT OF ACCOUNTING POLICIES 2. General The purpose of the Statement is to explain the basis of the figures in the Accounts which is determined by the disclosure policies adopted and the estimation techniques used where required to reflect the economic reality of the transactions. The accounts shall be prepared in accordance with the latest SORP in respect of Accounting and Reporting by Charities and adhere to the relevant Statements of Standard Accounting Practice, unless otherwise stated The accounting policies will be revised as required from those of the previous year to reflect changes in reporting requirements. Tangible Fixed Assets All fixed assets are vested in Pembrokeshire County Council as Trustee. All expenditure on the acquisition, creation or enhancements of fixed assets shall be capitalised on an accruals basis in the accounts provided that the fixed asset yields benefits to the authority and the services it provides for a period of more than one year. Non-structural repairs and maintenance of fixed assets shall be charged directly to service revenue accounts. Valuation Fixed asset values shall be estimated on the basis recommended by CIPFA and in accordance with the Statements of Asset Valuation Principles and Guidance Notes issued by the Royal Institution of Chartered Surveyors (RICS). Land, operational property and other operational assets are included in the balance sheet at the lower of net realisable value in existing use or depreciated replacement cost. Assets must be revalued every 5 years as a minimum, but must be revalued more regularly where a five yearly valuation is insufficient to keep pace with material changes in Fair Value. The assets shall be valued by the Council's appointed valuer who is suitably qualified. Any assets acquired for non-cash consideration shall be included in the balance sheet at fair value. Impairment Fixed assets other than non-depreciable land shall be reviewed tor impairment at the end of each reporting period when either: • No depreciation charge shall be made on the grounds it would be immaterial; or • The estimated remaining useful life of the fixed asset exceeds 50 years. Depreciation Depreciation shall be provided for on all material assets with a finite useful life. The straight-line method of depreciation is normally used to estimate depreciation. The assets are normally valued by the Council's Property Division. 8
The transfer between Restricted Capital Funds to Unrestricted Revenue Funds of £47,153 represents the depreciation charge for 2024-25. Asset Lives The remaining useful asset lives shall be estimated and, if deemed necessary, amended to reflect the amount of economic benefit remaining to be provided by tangible fixed assets. Asset lives shall be determined taking into account the number, age, obsolescence, if relevant type of construction, condition, repair and enhancement. Estimates of remaining useful life shall be made annually if deemed appropriate and each time the asset is revalued. De Minimis Expenditure With the exception of certain minor works, expenditure of less than £10,000 shall not be capitalised normally unless specific approval is given by the issue of a specific borrowing or grant approval. Enhancement Expenditure The value of the appropriate fixed asset shall be increased by any expenditure that enhances its value in the year. 3. Loans, Investments and the Basis of Charges Made for Repaying Debt Borrowing and the temporary investment of surplus funds shall be arranged as part of the County Council's overall treasury management activity. Any surplus funds shall be invested with Pembrokeshire County Council. Any sums due in respect of loans to finance activities of the Trust shall be charged to its revenue account. Interest, as is appropriate, will be charged or credited to revenue account. 4. Accrual of Income & Expenditure Employee Costs - salaries and wages shall be charged against the periods to which they relate and if necessary estimated accruals made using previous pay periods as a basis. Supplies and services - a system of accruals and converted payments is operated. Creditors will be accrued by cut off payments at the end of a predetermined period of the following year and by the inclusion of estimates for significant items remaining outstanding at this time based on quotations or past costs. An exception to this principle relates to electricity and similar quarterly payments which are charged at the date of meter reading rather than being apportioned between financial years. This policy shall be consistently applied each year and therefore does not have a material effect on any year's accounts. Interest due but not paid shall be accrued in accordance with best practice. Income - normally all income due shall be accounted for at the due dates. 5. Stocks Stocks will be valued in accordance with the SORP at the lower of cost or net realisable value. 6. Debtors Debtors will be reviewed periodically throughout each year and a bad debts provision established if deemed appropriate. 9
8. Reserves A Capital Development Fund shall be maintained for major repairs and replacements of fixed assets. Additional contributions from operating surpluses shall be appropriated to the Capital Development Fund. Budget Surplus/Deficit A balanced budget shall be set each year and budget monitoring measures put in place to ensure potential deficits are detected early and action planned to regularise the position. Group Accounts Since 2014-15 Tenby Trust Accounts have been consolidated into Pembrokeshire County Council's Statement of Accounts in accordance with the Code. 10
Tenby Pool - Fees & Charges Operating Activities • Furthering the Charitable Objectives Admissions Lessons School Hire Vending & Servery Sales • Other Incoming Resources Grants Received (Note 1) TOTAL INCOMING RESOURCES Tenby Pool - Expenditure Operating Activities • Furthering the Charitable Objectives Staffing (Note 5) Premises (Note 7) Vending & Servery Other Depreciation Support Costs (Note 6) TOTAL RESOURCES EXPENDED NET INCOMING / (OUTGOING) RESOURCES BEFORE TRANSFERS TRANSFERS BETWEEN FUNDS (Note 8) NET INCOMING / (OUTGOING) RESOURCES BEFORE REVALUATIONS & INVESTMENT ASSET DISPOSALS GAINS & LOSSES ON REVALUATIONS & DISPOSALS NET MOVEMENT IN FUNDS FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD STATEMENT OF FINANCIAL ACTIVITIES 2023-24 Total Funds E Unrestricted Unrestricted Revenue Funds (129,557) (60,278) (88,088) (9,913) (163,905) (451,741) (144,642) (76,073) (96,100) (8,548) (101,403) (426,766) 1 April 2024 to 31 March 2025 Restricted Restricted Total Funds Capital Loans (144,642) (76,073) (96,100) (8,548) (101,403) (426,766) 282,099 150,946 7,379 1,586 46,864 9,731 498,605 (46,864) 297,214 113,521 4,368 1,942 47,153 9,721 473,919 (47,153) 47,153 (46,864) 297,214 113,521 4,368 1,942 47,153 9,721 473,919 (47,153) (47,153) 276,221 229,357 1,683,399 1,912,756 • 1,460 1,460 1,046 1,046 (47,153) (47,153) (22,287) (69,440) 1,910,250 1,840,810 (22,287) (69,440) 1,912,756 1,843,316 11
Notes to Statement of Financial Activities 1. The grant receivable represents the contribution made to the Trust by the County Council of £96,563 for 2024-25 (£159,065 for 2023-24) and the Welsh Government Free Swimming Grant £4,840 for 2024-25 (£4,840 for 2023-24). 2. Neither the Trustees nor any person connected with them have received any remuneration from the Trust. 3. Neither the Trustees nor any person connected with them have received any payment towards expenses from the Trust. 4. There are no members of staff directly employed at Tenby Pool receiving emoluments in excess of £60k per annum. 5. Analysis of staff costs Salary Employer's National Insurance Employer's Superannuation Total Full Time Equivalents 6. Analysis of support costs: 2023-24 € 231,570 16,281 34,248 282,099 8.15 2024-25 € 247,776 15,819 33,619 297,214 8.68 Personnel/Accountancy Training & Development Payroll Insurance Admin Total 7. Premises Expenditure Utilities Chemicals & Cleaning Building Repairs Equipment Insurance Telephone Total 2023-24 6,156 1,235 996 1,344 9,731 2023-24 117,968 16,158 5,913 8,881 1,520 506 150,946 2024-25 € 6,131 1,240 1,000 1,350 9,721 2024-25 90,026 5,703 5,414 8,989 2,730 659 113,521 8. Transfers between funds relate to depreciation charges for 2024-25. 12
BALANCE SHEET AS 31 MARCH 2025 2023-24 FIXED ASSETS Tangible Fixed Assets Freehold Land Freehold Buildings Gross Value Accumulated Depreciation Net Value Equipment Gross Value : Accumulated Depreciation Net Value TOTAL NET FIXED ASSETS CURRENT ASSETS & LIABILITIES Current Assets Stocks Debtors Investments Cash In Transit Current Liabilities Trade Creditors Cash Received In Advance TOTAL NET CURRENT ASSETS TOTAL NET ASSETS FUNDS & CAPITAL ACCOUNTS Capital Adjustment Account Revaluation Reserve Capital Development Fund Unrestricted Funds Reserve Fund (Revenue) Reserve Fund (Capital) 1,886,125 9,680 1,886,125 1 1 177,797 (177,797) 1,895,805 2 1,518 39,162 (23,729) 40,680 (23,729) 16,951 1,912,756 294,134 1,601,672 14,444 1,460 1,046 1,912,756 2024-25 E 1,816,685 9,680 1,816,685 177,797 (177,797) 1,826,365 1,170 15.701 : 16,951 16,951 1,843,316 286,781 1,539,585 14,444 1,460 1,046 1,843,316 13
Notes to Balance Sheet 1. Analysis of movement of fixed assets: 2023-24 Land & Buildings 2024-25 Equipment Land & Buildings Equipment Gross Assets Balance B/fwd Revaluation Additions Balance C/twd 1,708,929 186,876 177,797 1,895,805 (69,440) - 177,797 1,895,805 177,797 1,826,365 177,797 Accumulated Depreciation & Impairment Balance B/fwd Depreciation charge for Year Revaluation Balance C/fwd 42,481 46,864 177,797 - 47,153 177,797 (89,345) (47,153) 177,797 177,797 Net Assets 1,895,805 1,826,365 The assets have been valued in accordance with the stated accounting policy. Where applicable, assets have been valued by the Council's valuer, Bruton Knowles. The effective date of revaluation was 31 March 2025, which was a full revaluation undertaken by Bruton Knowles. 2. Investments represent revenue cash temporarily invested with Pembrokeshire County Council. CASH FLOW STATEMENT 2023-2024 2024-25 Net Inflow/(Outflow) Per Statement of Resources Add back: Depreciation Decrease/ (Increase) in: Stocks Debtors Cash In Transit (46,864) 46,864 E (47,153) 47,153 - 2,084 : 348 : 2,084 348 Increase / (Decrease) in: Creditors Income in Advance Movement in Cash In Year 7,218 (23,729) Balance Brought Forward Balance Carried Forward 7,218 9,302 29,860 39,162 (23,729) (23,381) 39,162 15,781 14
APPENDIX B TENBY AND DISTRICT SWIMMING POOL TRUST ANNUAL REPORT 2024/25
Tenby and District Swimming Pool Trust 2024/25 It is my pleasure to present the introduction to the 2024/25 Annual Statement of Accounts for the Tenby Swimming Pool Trust. This year's report reflects not only the continued importance of the facility to the town of Tenby and its surrounding communities, but also the exceptional dedication of the staff and the loyal support of our customers, both of whom make this essential service possible. The swimming pool remains a vital community asset, welcoming visitors of all ages and supporting a wide range of health, leisure and educational activities. Our staff have once again demonstrated outstanding professionalism and commitment, delivering high-quality services and ensuring that every visitor receives a warm, safe and positive experience. Their passion is central to the facility's ongoing success and is recognised with deep appreciation. Community engagement remains strong. During the 2024/25 period, the pool recorded more than 60,000 visits. Over 350 children participated in the "Learn to Swim" programme, and swimming lessons were delivered to 10 local primary schools. In total, more than 500 pupils received tuition, with 89% of Year 6 learners achieving the Swim Wales national curriculum gold standard-an impressive 4% increase on the previous year. These achievements highlight the vital role the facility plays in supporting local children's water safety and confidence. Financial performance continues to be a key focus. As detailed in the full report, the overall subsidy required for the year reduced significantly from £159,056 in 2023/24 to £96,563 in 2024/25, representing a 39% decrease. This improvement reflects both an increase in income of £37,527 (13% growth, excluding grants) and a reduction in utility costs. We remain encouraged by this positive trajectory and are optimistic about maintaining momentum into 2025/26. The structural condition of the facility, highlighted in previous reports, remains an important consideration. We continue to work closely with the Trustees
(Pembrokeshire County Council) to secure a sustainable medium- to long-term solution, with an outcome anticipated within the next 12 months. Despite the challenges faced, the commitment of our staff and the steadfast support of our customer base position the swimming pool as an essential community hub. We look forward with confidence to the year ahead and to continuing our service to the people of Tenby and the wider district in a responsible, effective and community- focused manner. Gary Nicholas Leisure Services Manager