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2020-12-31-accounts

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:01 DATASET 31 December 2020

Charity number: 1106148 Company number: 5165102

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' report and financial statements

for the year ended 31 December 2020

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:01 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Contents

Page
Legal and administrative information 1
Trustees' report 2 - 7
Independent examiners' report 8
Statement of financial activities 9
Statement of financial position 10 - 11
Cash flow statement 12
Notes to the financial statements 13 - 22

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:01 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Legal and administrative information

Charity number 1106148
Company registration number 5165102
Registered office 32 Westgate
Tadcaster
North Yorkshire
LS24 9AB
Trustees Mr D Marsh
Mr J Sykes
Mr J Cahill
Miss K McIntyre
Mr D Jockel
Miss E J English
Secretary Mr C Porter
Accountants Howard Matthews Partnership
Queensgate House
23 North Park Road
Harrogate
North Yorkshire
HG1 5PD
Bankers HSBC Bank plc
11 North Street
Wetherby
West Yorkshire
LS22 6NT

Page 1

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:01 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

The Trustees present their report and the financial statements for the year ended 31 December 2020. The Trustees, who are also directors of Tadcaster Swimming Pool Trust for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.

Structure, governance and management

Governing document

The Charity was formed as a company limited by guarantee on 29 June 2004, the word "Limited" being omitted in compliance with the requirements of section 30(3) of the Companies Act 1985.

It is governed by the memorandum and articles of association dated 29 June 2004.

Organisation

The Trust's policies are determined and reviewed by the Board of Trustees, which meets at least four times per year. The Board delegate the day-to-day operation to a full time facility manager, who is also the Company Secretary. The Facility Manager liaises regularly with individual Trustees for specialist projects that utilise their key skills and expertise.

Appointment of Trustees

As set out in the Articles of Association, the Chairman is elected by a simple voting majority and Trustees may be appointed by the Board through application or invitation. Whenever possible, the Trustees consider specialist skills that members might bring to the Board and seek to maintain a board of at least four Trustees. The Board will call further meetings as and when necessary.

Trustee Induction and Training

New Trustees receive a half day briefing which includes a facility tour, inspection of the management accounts, health and safety documents and a copy of the Charity Commission Guidance "CC3a-The Essential Trustee: An Introduction".

Risk management

The Trustees take a low risk approach to investing funds. The Trustees do consider investing in short term products which provide both income and capital growth to be the most appropriate but at the current time all funds are held in bank current and savings accounts. At present, these funds are spread across a number of institutions including HSBC, Barclays, Virgin money, Nationwide, the Cambridge Building Society and Teachers Building Society.

In considering the annual budget and the facility operation as a whole, the Trustees examine the major risks to which the Charity is exposed, especially health and safety of its visitors, volunteers and staff. The Trustees are given regular reports on the financial and operational performance of the Charity, including incident and accidents reports.

An annual inspection of the health and safety of the building is carried out by a volunteer who is a qualified Health and Safety officer. The Trustees receive copies of the document and recommend any changes required.

In order to minimize the prospect of long term closures, the Trustees regularly update their capital repairs and renewals programme. The Trust has also adopted a policy of structural surveys every five years in order to identify areas of the buildings fabric, plant and machinery that may require attention outside of the scope of the usual maintenance programme. The last review undertaken was in 2017.

Page 2

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:01 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

Objectives and activities

Objectives

Our Charity's objectives as set out in the company's memorandum of association are:

Aims

The aims of the Trust are to provide a high quality community service for people wishing to swim and to offer a comprehensive programme of recreation, education and fitness all year round. Our aims fully reflect the purposes that the Charity was set up to achieve.

Ensuring our work delivers our aims

We review our aims and activities each year and the Trustees ensure that we continue to remain focused on our core values and main purpose. We review all of our activities every quarter and consider the success each one of them makes towards our aims. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

How our activities deliver public benefit

We have referred to the guidance in the Charity Commission's guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set.

All of our charitable activities focus on operating and maintaining the Tadcaster Community Swimming Pool and are undertaken to further our charitable purposes for the public benefit, by providing facilities for both the residents and visitors to the local community of Tadcaster.

Volunteers

The extent and scope of our service is heavily dependant on the support and commitment of a large number of volunteers. The Trustees wish to acknowledge and thank all those people who give up their spare time to lifeguard, work on the reception desk and undertake a variety of other tasks, including maintenance, IT support and gardening. Without this continued level of support together with the investment of funds to train, qualify and manage this significant workforce our aims and objectives could not be achieved. The charity wishes to thank our superb team of volunteers.

Achievements and performance

Who used and benefitted from our services

Demand at peak times remains high and the charity balances the activities available by considering the age and gender of the individual as well as the time that those individuals or groups are able to attend. Our fee structure allows discounted access to be offered to Tadcaster school groups, carers of disabled people and free swimming for children under five years of age. In addition the charity offers concessionary pricing for a range of individuals and will discount groups attending who belong to affiliated clubs or societies.

We do not operate a private membership scheme, but instead promote ourselves as an 'open access' facility for all members of the public. We do not restrict access in any way and aim to offer our services to all genders, all ethnic groups, able-bodied people and to disabled people.

Page 3

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:02 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

Coronavirus

Following Government restrictions the Trustees closed the Facility on the 19th March 2020.

The facility reopened in October for 5 weeks and then closed again on the 4th November. This was for a four week closure and the facility reopened on the 2nd December until the 4th January 2021.

Throughout the closure periods the Trust took advantage of the Government Job Retention Scheme. All Costs were managed to help reduce the financial impact on the Trust.

Grants were sought from National Governing Bodies, Charitable Organisations, Private Businesses, Local Authority and Public Donations.

The Trustees are confident that the Trust has sufficient reserves to keep the facility safe and in good operating order in the future.

Going concern

Due to the COVID-19 pandemic the Trust will look at all sources of external grants and funding to secure the future of the Trust.

The Trustees have planned out different financial forecasts and scenarios to prepare the organisation for the long term recovery.

In 2020 due to the COVID-19 pandemic the Trust has stopped delivering its Fitness Classes at Tadcaster Grammar School, but continues to manage the lettings/bookings on behalf of the school.

One of the internal challenges for 2022/23 is to upgrade the Heating System and Air Handling Unit and to raise funds to complete the works.

The Trustees will also continue to reduce its Carbon footprint wherever possible by installing energy saving equipment and will provide cost certainty by forward purchasing on utility costs.

The Trustees will continue to seek external funding, donations and grants to meet refurbishment costs and special projects.

The focus of our work (in non Covid times)

Our main objectives for the year continued to be met as we provided access to a large selection of aquatic and fitness opportunities to a broad and varied range of individuals and community groups. In addition we have trained our staff and volunteers to deliver a quality service and supported them to achieve formal qualifications where possible. The strategies we used to meet these objectives included:

Page 4

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:02 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

Swimming lessons and education

The Trust is very proud of the quality and range of lessons and learning opportunities we offer. Unfortunately due to COVID and the closure of the facility in 2020 we were unable to offer our normal programme of activities including Swimming lessons.

All Tadcaster Schools continue to use the facility for swimming lessons and aquatic skills. Six hours per week is given to the schools swimming programme. This high level of instruction leads to a high success rate of achievement for National Key Stage 2 in swimming.

Improving fitness and furthering participation

The charity has met its aim of improving the fitness of clients by operating the Fitness Suite as a complimentary pursuit and promoting further non-structured and structured programmes. These include Crazy Fun Sessions in the pool during school holidays, development routes to the Tadcaster Swim Squad and the Lower Wharfe Canoe Club, offering swim clinics to adults to help improve their swimming strokes and fitness, a Masters Swimfit Group, Aquafit and AquaZumba.

Partnerships

All the local schools are fully engaged in utilising our facility and staff. As mentioned already, the charity has hosted two swimming galas in the past year and is measured on the attainment of Year 6 students to Key Stage 2 for swimming.

The Trust continues to work in partnership with Inspiring Healthy Lifestyles (Selby District Council Leisure services provider). A service level agreement is in place to allow Direct Debit members from the Tadcaster Leisure centre access to the swimming pool.

The Trust is also part of the SPORTA group. The group is made up of other Trusts throughout Yorkshire and the North East and gives the chance to work together on similar subjects as well as networking within other facilities.

The Trust also works with an events company to host the Tadcaster Triathlon.

The annual Duck race was also supported by Coors brewery, who helped to co-ordinate the collection of the ducks and assisted with the set up on the day. This was cancelled in 2020.

Financial review

The Trust had a challenging year during 2020 as attendances were reduced due to Covid. The Trust took advantage of the furlough scheme and reduced costs where possible resulting in a surplus of £4,533 (2019: deficit £42,904) before depreciation charges of £57,106 (2019: £61,039).

During the year, the Trust had total incoming resources of £614,212 (2019: £842,869) and the deficit for the year after depreciation charges was £52,573 (2019: £103,940).

The Trustees will continue to seek external funding, donations and grants to meet refurbishment costs and special projects.

Page 5

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:02 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

Reserves policy

It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to provide sufficient funds to cover management, administration and support costs and in particular to cover payments towards new projects recommended for support by the trustees.

The Trustees have recommended that the target for free reserves be at least £150,000. As at 31 December 2020, the charity had cash at bank of £441,077 (2019: £512,783) and total free cash reserves of £361,632 (2019: £312,706).

Included within the unrestricted reserves the Trustees have put aside £150,000 into designated funds for the eventual refurbishment of the changing rooms and £150,000 towards the air source heat pump project. They have also designated operational funds of £150,000.

Plans for future periods

The Trustees priorities for 2021 will be:

The work of the Trust remains highly respected locally and continues to attract financial support from a variety of sources. Secured grant aid, service level agreements and current fundraising activity will continue to provide much needed funding support required to operate the facility for the public for the next twelve months.

Statement of Trustees' responsibilities

The Trustees (who are also directors of Tadcaster Swimming Pool Trust for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Page 6

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:02 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Trustees' Annual Report for the year ended 31 December 2020

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board

................................. .................................. Mr D Marsh Mr J Sykes Trustee Trustee Dated: .....................................

Page 7

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:02 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Independent examiner's report to the Trustees of Tadcaster Swimming Pool Trust.

I report to the charity Trustees on my examination of the accounts of Tadcaster Swimming Pool Trust for the year ended 31 December 2020 set out on pages 2 to 22.

Responsibilities and basis of report

As the charity Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 in order to enable a proper understanding of the accounts to be reached.

...........................................................

Howard Matthews BA FCA

ICAEW

Independent examiner

Howard Matthews Partnership Queensgate House 23 North Park Road Harrogate HG1 5PD

Page 8

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Statement of financial activities (incorporating the income and expenditure account)

For the year ended 31 December 2020

Unrestricted Unrestricted Unrestricted 2020 2019
funds Total Total
Notes £ £ £
Income and endowments
Donations and legacies 2 308,374 308,374 6,061
Other trading activities 3 23,957 23,957 62,249
Investment income 4 1,720 1,720 2,609
Income from charitable activities 5 280,161 280,161 771,950
Total income 614,212 614,212 842,869
Expenditure
Purchase of goods for resale 6 13,589 13,589 32,774
Charitable activities 589,005 589,005 840,188
Depreciaton and (profit)/ loss on disposal 57,106 57,106 61,039
Governance costs 7 7,085 7,085 12,808
Total expenditure 666,785 666,785 946,809
Net incoming/(outgoing) resources for the year /
Net income/(expenditure) for the year (52,573 ) (52,573 ) (103,940 )
Total funds brought forward 1,003,490 1,003,490 1,107,430
Total funds carried forward 16 950,917 950,917 1,003,490

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 13 to 22 form an integral part of these financial statements.

Page 9

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Statement of financial position as at 31 December 2020

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
Debtors
13
Cash at bank and in hand
Creditors: amounts falling
due within one year
14
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after more than one year
15
Net assets
Funds
16
Unrestricted funds
Total funds		 2020
£
£
628,024
4,594
25,545
441,077
471,216
)
(104,990
366,226
994,250
)
(43,333
950,917
950,917
950,917		 2019
£
£
685,130
5,654
48,181
512,783
566,618
)
(248,258
318,360
1,003,490
-
1,003,490
1,003,490
1,003,490

The Statement of Financial Position continues on the following page.

The notes on pages 13 to 22 form an integral part of these financial statements.

Page 10

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Statement of financial position (continued)

Trustees statements required by the Companies Act 2006 for the year ended 31 December 2020

For the year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board on ..................................... and signed on its behalf by

................................. .................................. Mr D Marsh Mr J Sykes Trustee Trustee

Company number: 5165102

The notes on pages 13 to 22 form an integral part of these financial statements.

Page 11

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Cash flow statement

for the year ended 31 December 2020

Notes
Net outgoing resources for the year
Interest receivable
Loss/(gain) on disposal of fixed assets
Depreciation and impairment
Decrease in stocks
Decrease/(Increase) in debtors
Decrease in creditors
Net cash outflow from operating activities
Returns on investments and servicing of finance
21
Financing
21
Decrease in cash in the year
Reconciliation of net cash flow to movement in net funds
Decrease in cash in the year
Net funds at 1 January 2020
Net funds at 31 December 2020		 2020
£
)
(52,573
)
(1,720
-
57,106
1,060
22,636
)
(149,935
)
(123,426
1,720
)
(121,706
50,000
)
(71,706
)
(71,706
512,783
441,077		 2019
£
)
(103,940
)
(2,609
3,933
57,107
126
)
(10,870
)
(41,073
)
(97,326
2,609
)
(94,717
-
)
(94,717
)
(94,717
607,500
512,783

Page 12

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Notes to financial statements

for the year ended 31 December 2020

General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 32 Westgate, Tadcaster, North Yorkshire, LS24 9AB.

Statement of compliance

These financial statements have been prepared in compliance with FRS 102, "The Financial Reporting Standard applicable in the UK and the Republic of Ireland", the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

1.2. Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

1.3. Fund accounting

Unrestricted Reserves.

The Trust has unrestricted funds consisting of:

Revenue Reserves arising from the charitable activities and surplus of funds generated. The reserves are freely available to be expended at the discretion of the trustees in the furtherance of the Charity's objectives.

Designated Funds.

The trustees have set up designated funds for the future development of the changing facilities and air source heat pump project and for the development of new computer software for the Swimming Development programme.

Page 13

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:03 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

1.4. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

1.5. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT has been accounted for within cost of activities for the year.

1.6. Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred.

1.7. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold property is depreciated at 2% straight line. No depreciation is provided on freehold land.

1.8. Stock

Stock is valued at the lower of cost and net realisable value.

Page 14

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:04 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

1.9. Defined contribution pension schemes

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

1.10. Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Page 15

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:04 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

2.
Donations and legacies
Unrestricted
funds
£
Donations
18,107
Government Covid grants receivable
180,267
Other grants receivable
110,000
308,374
3.
Other trading activities
Unrestricted
funds
£
Fundraising events
1,269
Retail and vending
12,163
Advertising income
-
Lifeguard training income
5,140
First aid training courses
680
Activities and hire
4,705
23,957
4.
Investment income
Unrestricted
funds
£
Bank interest receivable
1,720
1,720
5.
Income from charitable activities
Unrestricted
funds
£
Incoming resources from charitable activities
280,161
280,161		 2020
Total
£
18,107
180,267
110,000
308,374
2020
Total
£
1,269
12,163
-
5,140
680
4,705
23,957
2020
Total
£
1,720
1,720
2020
Total
£
280,161
280,161		 2019
Total
£
6,061
-
-
6,061
2019
Total
£
737
44,043
350
8,103
348
8,668
62,249
2019
Total
£
2,609
2,609
2019
Total
£
771,950
771,950

Page 16

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:04 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

6.
Purchase of goods for resale
Unrestricted
funds
£
Retail and Vending
13,589
13,589
7.
Governance costs
Unrestricted
funds
£
Accountancy fees
4,765
Professional fees
167
Bookkeeping
)
(10
Payroll fees
1,623
Pension management fees
540
7,085
8.
Net outgoing resources for the year
Net outgoing resources is stated after charging:
Depreciation and other amounts written off tangible fixed assets
Loss on disposal of tangible fixed assets
Independent examiners' remuneration
Independent examiners' remuneration from other work		 2020
Total
£
13,589
13,589
2020
Total
£
4,765
167
)
(10
1,623
540
7,085
2020
£
57,106
-
3,000
1,765		 2019
Total
£
32,774
32,774
2019
Total
£
4,600
4,451
1,840
1,377
540
12,808
2019
£
57,106
-
3,000
1,600

Page 17

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:05 DATASET 31 December 2020 Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

9. Employees

Employment costs
Wages and salaries
Social security costs
Pension costs
Other benefits
Staff training and accreditation		 2020
£
375,525
19,247
5,508
187
12,274
412,741		 2019
£
462,086
22,624
5,368
147
16,970
507,195

No employee received emoluments of more than £60,000 (2019 : None). The trustees received no remuneration in the year ended 31 December 2020 (2019: nil) and no expenses in the year ended 31 December 2020 (2019: nil)

Number of employees

The average monthly numbers of employees (including the Trustees) during the year was as follows:

s as follows:
2020 2019
Number Number
40 44

10. Pension costs

The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows:

was as follows:
2020 2019
£ £
Pension charge 5,508 5,368

11. Taxation

The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.

Page 18

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:05 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

Land and
Fixtures,
12.
Tangible fixed assets
buildings
Plant and fittings and
freehold
machinery
equipment
£
£
£
Cost
At 1 January 2020
2,032,605
136,404
124,959
Disposals
-
)
(6,195
)
(11,311
At 31 December 2020
2,032,605
130,209
113,648
Depreciation
At 1 January 2020
1,407,637
127,330
73,871
Charge for the year
37,052
3,025
17,029
On disposals
-
)
(6,195
)
(11,311
At 31 December 2020
1,444,689
124,160
79,589
Net book values
At 31 December 2020
587,916
6,049
34,059
At 31 December 2019
624,968
9,074
51,088
13.
Debtors
2020
£
Trade debtors
5,912
Other debtors and prepayments
19,633
25,545
14.
Creditors: amounts falling due
within one year
2020
£
Bank loan
6,667
Trade creditors
23,813
Other taxes and social security
9,541
Other creditors
10,083
Accruals and deferred income
54,886
104,990		 Total
£
2,293,968
)
(17,506
2,276,462
1,608,838
57,106
)
(17,506
1,648,438
628,024
685,130
2019
£
19,141
29,040
48,181
2019
£
-
76,233
8,885
10,752
152,388
248,258

Income has been deferred in respect of swimming lessons booked in advance.

Page 19

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:06 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

15. Creditors: amounts falling due
after more than one year 2020 2019
£ £
Bank loan 43,333 -

16. Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Total
funds funds
£ £
Fund balances at 31 December 2020 as represented by:
Tangible fixed assets 628,024 628,024
Current assets 471,216 471,216
Current liabilities (104,990 ) (104,990 )
Long-term liabilities (43,333 ) (43,333 )
950,917 950,917
Unrestricted Total
funds funds
£ £
Fund balances at 31 December 2019 as represented by:
Tangible fixed assets 685,130 685,130
Current assets 566,618 566,618
Current liabilities (248,258) (248,258)
1,003,490 1,003,490

Page 20

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:06 DATASET 31 December 2020 Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

17. Unrestricted funds At At
1 January Incoming Outgoing 31 December
2020 resources resources Transfers 2020
£ £ £ £ £
Revenue Reserves 553,490 614,212 )
(666,785		 - 500,917
Designated Reserves 1 300,000 - - - 300,000
Operational reserves 150,000 - - - 150,000
1,003,490 614,212 )
(666,785		 - 950,917
At At
1 January Incoming Outgoing 31 December
2019 resources resources Transfers 2019
£ £ £ £ £
Revenue Reserves 557,430 842,869 (946,809) 100,000 553,490
Designated Reserves 1 350,000 - - (50,000) 300,000
Operational reserves 150,000 - - - 150,000
Designated reserves 2 50,000 - - (50,000) -
1,107,430 842,869 (946,809) - 1,003,490

Purposes of unrestricted funds

Revenue Reserves - General funds for the furtherance of the Charity's objectives.

Designated Reserves 1 - A fund set up to provide for future expenditure on the upgrading of the changing facilities and the air source heat pump project.

Operational funds - Free funds as designated by the trustees.

Designated Reserves 2 - A fund set up to provide for future expenditure on computer software for the Swimming Development programme.

18. Related party transactions

There are no related party transactions requiring disclosure.

19. Indemnity insurance

The charity paid for the insurance premiums to indemnify trustees and senior staff from any loss arising from neglect or defaults of trustees or staff and any consequent loss.

Page 21

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:06 DATASET 31 December 2020 Tadcaster Swimming Pool Trust (A company limited by guarantee)

Notes to financial statements for the year ended 31 December 2020

20. Post balance sheet events

The facility remained closed until 12 April 2021 due to the COVID-19 situation. The decision was taken in line with the government recommendations for social distancing, non-essential work and the mandatory closure of Leisure facilities.

21. Gross cash flows

Gross cash flows
Returns on investments and servicing of finance
Interest received
Financing
New bank loan		 2020
£
1,720
50,000		 2019
£
2,609
-

22. Company limited by guarantee

Tadcaster Swimming Pool Trust is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Page 22

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:06 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

The following pages do not form part of the statutory accounts.

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:06 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Detailed statement of financial activities

For the year ended 31 December 2020

Incoming resources
Incoming resources from generating funds:
Voluntary income
Donations
Government Covid grants receivable
Other grants receivable
Activities for generating funds
Fundraising events
Retail and vending
Advertising income
Lifeguard training income
First aid training courses
Activities and hire
Investment income
Bank interest receivable
Total incoming resources from generating funds
Incoming Resources from charitable activities
Swimming Pool income
Total incoming resources
Resources expended
Costs of generating funds:
Retail and Vending
Vending costs
Goods for vending machines
Swim accessories
Total costs of generating funds		 2020
£
£
18,107
180,267
110,000
308,374
1,269
12,163
-
5,140
680
4,705
23,957
1,720
1,720
334,051
280,161
614,212
3,218
3,807
6,564
13,589		 2019
£
£
6,061
-
-
6,061
737
44,043
350
8,103
348
8,668
62,249
2,609
2,609
70,919
771,950
842,869
1,071
12,172
19,531
32,774		 2019
£
£
6,061
-
-
6,061
737
44,043
350
8,103
348
8,668
62,249
2,609
2,609
70,919
771,950
842,869
1,071
12,172
19,531
32,774
6,061
737
44,043
350
8,103
348
8,668
62,249
2,609
2,609
70,919
771,950
842,869
32,774

Page 24

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:07 DATASET 31 December 2020

Tadcaster Swimming Pool Trust (A company limited by guarantee)

Detailed statement of financial activities

For the year ended 31 December 2020

Charitable activities
Swimming pool
Activities undertaken directly
Wages and salaries
Employer's NIC
Staff pension costs
Employee benefit scheme
Staff training & accreditation
Staff welfare
Till system
Equipment hire
Water and sewerage
Power, heat and light
Repairs and maintenance
Insurance
Advertising and promotional events
Chemicals
Postage and stationery
Clothing costs
Subscriptions
Computer costs
Telephone
Sundries
Rental of office space
Credit card charges
Bad debts
Travelling expenses
Cleaning
Bank charges
Disallowable VAT
Swimming pool total expenditure
Depreciation and (profit)/loss on disposal
Total charitable activity expenditure
Governance costs
Activities undertaken directly
Accountancy fees
Professional fees
Bookkeeping
Payroll fees
Pension management fees		 2020
£
375,525
19,247
5,508
187
12,274
-
3,811
574
5,789
45,502
33,519
23,783
2,047
6,687
2,901
1,961
1,459
2,668
3,388
726
2,635
3,365
-
64
6,019
61
29,305
589,005
57,106
646,111
4,765
167
)
(10
1,623
540		 2019
£
462,086
22,624
5,368
147
16,970
3,250
2,818
779
12,691
81,157
115,828
27,560
8,982
10,123
3,729
1,724
2,161
5,376
3,305
2,632
3,120
5,992
130
1,442
12,484
355
27,355
840,188
61,039
901,227
4,600
4,451
1,840
1,377
540		 2019
£
462,086
22,624
5,368
147
16,970
3,250
2,818
779
12,691
81,157
115,828
27,560
8,982
10,123
3,729
1,724
2,161
5,376
3,305
2,632
3,120
5,992
130
1,442
12,484
355
27,355
840,188
61,039
901,227
4,600
4,451
1,840
1,377
540
840,188
61,039
901,227

Page 25

DRAFT FINANCIAL STATEMENTS 28 May 2021 19:15:07 DATASET 31 December 2020

Tadcaster Swimming Pool Trust

(A company limited by guarantee)

Detailed statement of financial activities
For the year ended 31 December 2020
Total governance costs
Net incoming/(outgoing) resources for the year		 7,085
)
(52,573		 12,808
)
(103,940

Page 26