Charity Registration No. 1110872
## THE GUILDFORD WATERSIDE CENTRE (A CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
THE GUILDFORD WATERSIDE CENTRE
## **LEGAL AND ADMINISTRATIVE INFORMATION**
Trustees Mr J Rossiter Mr D Kitching Ms G Vance Mrs R Sharp Mr R Kendall Mr D Halliwell Secretary Ms G Vance Charity number 1110872 Principal address The Guildford Waterside Centre Riverside Guildford Surrey GU1 1LW Registered office The Guildford Waterside Centre Riverside Guildford Surrey GU1 1LW Independent examiner Jim Fardell March Hares Thursley Road Thursley Surrey GU8 6QW
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THE GUILDFORD WATERSIDE CENTRE
## **CONTENTS**
||Page|
|---|---|
|Trustees' report|4 - 5|
|Independent examiners' report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the accounts|9 - 12|
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THE GUILDFORD WATERSIDE CENTRE
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2022**
The trustees present their report and accounts for the year ended 30 September 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution and the Statement of Recommended Practice - Accounting and reporting by Charities: SORP applicable to charities preparing their financial statements under FRS102.
## **Structure, governance and management**
The charity is a Charitable Incorporated Organisation (CIO) having converted from the previous company limited by guarantee form on the 5[th] May 2022. The CIO operates under a Foundation model constitution where only the trustees have voting powers.
The trustees, who were also the directors for the purpose of company law until the conversion, and who served during the year were:
Mr J Rossiter Mr D Kitching Mr N Turner (resigned 7[th] January 2022) Ms G Vance (from 6[th] December 2021) Mr R Kendall Mrs R Sharp Mr D Halliwell (from 6[th] December 2021)
Trustees are appointed by Member clubs of the Guildford Waterside Centre. The member clubs as at 30 September 2022 are Wey Kayak Club, The Samson Centre for MS (also known as MS Therapy Group (Guildford)) and The Guildford Branch of the British Sub-Aqua Club. Each member club appoints two trustees.
All trustees are familiar with the practical work of the charity and have made declarations of their own suitability for the role.
The Guildford Waterside Centre has a Management Committee of up to 12 members who meet bi-monthly and are responsible for the strategic direction, policy and day to day running of the charity. All the trustees are members of the Management Committee.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Objectives and activities**
The Charity's objects are to benefit persons of all ages within the UK without distinction of sex or of political, religious or other opinions by operating and developing the Centre for the benefit of its members.
The aims of the Charity are to operate the Centre in an efficient and effective manner so that the member groups and other users of the Centre can operate from it.
The first objective for the year under review was to continue to run the Centre in an efficient way and ensure users’ needs were met. The second objective was to raise funds to provide for the repairs needed to keep the Centre operating in a safe and secure way. The first objective has been achieved, and the second is being achieved through donations from member organisations, personal loans from individual members and grants from third parties.
The strategy for achieving the first objective is to listen to user groups requests and the second is for members to actively undertake fundraising activities.
The Centre is operated entirely on a voluntarily basis.
## **Achievements and performance**
This has been a year of consolidation for the Centre which has largely remained open for members. The enhanced ventilation project was successfully completed and we have continued with the enhanced cleaning regime.
## **Financial review**
The operational income received is from its member groups and other users of the Centre. The operational expenditure is the running expenses of the Centre.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be
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## THE GUILDFORD WATERSIDE CENTRE
maintained at a level equivalent to between three and nine months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
There was no activity within the Restricted Fund, reserved for the buildings of the Centre, aside from the normal depreciation of existing assets.
The Designated Fund, intended to be used for significant repairs to the Centre, was replenished by £3, 000.
## **Asset cover for funds**
Note 16 sets out an analysis of the assets attributable to the various funds and a description of the trusts.
These assets are sufficient to meet the charity's obligations on a fund by fund basis.
## **Plans for the future**
Cognisant of growing pressure on the Centre’s finances and the need for increased maintenance of the Centre, the Centre's members will continue to raise funds to supplement the existing revenue sources. In particular, the trustees are examining ways of reducing or offsetting the utility bills which have increased greatly in the last year and are expected to remain at or about this high level for the foreseeable future. This is likely encompass a range of initiatives to both reduce consumption and if possible generate electricity ourselves. As every year, the trustees will also put aside funds to grow the Designated Fund to provide cover for future repairs.
On behalf of the trustees
Jim Rossiter (Chair of trustees) Date: 3 April 2023
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THE GUILDFORD WATERSIDE CENTRE
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE GUILDFORD WATERSIDE CENTRE LTD**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2022, which are set out on pages 7 to 12.
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Mr J Fardell
Date: 3.4.2023
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THE GUILDFORD WATERSIDE CENTRE
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|||**Unrestricted**|**Designated**|**Restricted**|**Total2022**|**Total 2021**|
|---|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|||
|**Notes**||£|£|£|£|£|
|**Incoming resources from generated**||**funds**|||||
|Donations and legacies|2|2,738|||2,738|102,394|
|Investment income is bank interest
received.|3|20|||20||
|||**2,758**|||**2,758**|**102,394**|
|Incoming resources from charitable
activities|4|64,109|||64,109|51,380|
|Other incoming resources|5|7,490|||7,490|2,043|
|**Total incoming resources**||**74,357**|||**74,357**|**155,817**|
|**Resources expended**|6||||||
|**Charitable activities**|||||||
|Centre operation||73,112||22,182|95,294|88,212|
|Other resources expended||-|||-|21,270|
|**Total resources expended**||**73,112**||**22,182**|**95,294**|**109,482**|
|**Net incoming/(outgoing)**
**resources before transfers**||1,244||**(22,182)**|**(20,938)**|46,335|
|Gross transfers between funds||(3,000)|3,000||||
|**Net income/(expenditure) / Net**
**movement in funds**||(1,756)|3,000|**(22,182)**|**(20,938)**|46,335|
|Fund balances at 1 October 2021||31,974|17,054|1,809,583|1,858,611|1,812,276|
|**Fund balances at 30September**
**2022**||30,218|20,054|1,787,401|1,837,673|1,858,611|
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THE GUILDFORD WATERSIDE CENTRE
## **BALANCE SHEET AS AT 30 SEPTEMBER 2022**
|Notes
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
Bar stock
**Creditors: amounts falling due**
**withinone year**
12
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
13
**Net assets**
**Income funds**
Restricted funds
14
Unrestricted funds:
Designated funds
15
Other charitable funds|**2022**
2021
**£**
**£**
£
£
**1,797,834**
**1,825,309**
**1,797,834**
**1,825,309**
**9,904**
**10,166**
**33,708**
**25,201**
**483**
**690**
**44,095**
**36,056**
**(4,256)**
**(2,755)**
**39,839**
**33,302**
**1,837,673**
**1,858,611**
**1,837,673**
**1,858,611**
**1,787,401**
**1,809,583**
**20,054**
**17,054**
**30,218**
**31,974**
**1,837,673**
**1,858,611**|**2022**
2021
**£**
**£**
£
£
**1,797,834**
**1,825,309**
**1,797,834**
**1,825,309**
**9,904**
**10,166**
**33,708**
**25,201**
**483**
**690**
**44,095**
**36,056**
**(4,256)**
**(2,755)**
**39,839**
**33,302**
**1,837,673**
**1,858,611**
**1,837,673**
**1,858,611**
**1,787,401**
**1,809,583**
**20,054**
**17,054**
**30,218**
**31,974**
**1,837,673**
**1,858,611**|
|---|---|---|
||||
|||**1,858,611**|
|||**1,858,611**|
|||**1,809,583**
**17,054**
**31,974**|
|||**1,858,611**|
The financial statements on pages 7 to 12 were approved by the trustees on 3[rd] April 2023 and signed on their behalf by
Jim Rossiter (Trustee)
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THE GUILDFORD WATERSIDE CENTRE
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **1. Accounting policies**
## **1.1.Basis of preparation**
These financial statements have been prepared under the historic cost convention and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities SORP (FRS102) effective 1st January 2019, and the Charities Act 2011, as applicable for smaller entities.
## **1.2.Incoming resources**
Incoming resources are included when they are receivable.
## **1.3.Resources expended**
Expenditure is included on an accruals basis and includes irrecoverable value added tax. It has been allocated to the activities of the charity on a direct cost basis.
Governance costs are those costs relating to the running of the charity as an entity.
## **1.4.Tangible fixed assets and depreciation**
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold property Over the term of the lease Fixtures, fittings & equipment 20% or 25% per annum
## **1.5.Investments**
Fixed asset investments are stated at market value.
## **1.6.Accumulated funds**
Unrestricted funds – represent those funds available to use at the discretion of the trustees.
Restricted funds – comprise those funds that have been received with specific conditions attaching to their use by the trustees.
Designated funds – represent funds set aside out of general unrestricted funds by the trustees for future projects.
## **2. Donations and legacies**
Donations and Legacies income includes payments received from the Wey Kayak Club and the residual of a grant from Sport England. The trustees wish to express their thanks for these.
|Donations and gifts
.|**2022**
2021
**£**
£
**2, 738**
**102, 394**|
|---|---|
|||
## **3. Investment income is bank interest received**
|**nvestment income is bank interest received**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|Interest receivable|**20**|0|
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THE GUILDFORD WATERSIDE CENTRE
## **4. Incoming resources from charitable activities**
|Affiliation & membership fees
Hall hire
**5. Other incoming resources**
Nett income from lottery
Income from bar trading|**2022**
2021
**£**
£
**63,469**
**51,380**
**640**|
|---|---|
||**64,109**
**51,380**|
||**2022**
2021
**£**
£
**1,430**
**(54)**
**6,060**
**2,097**|
||**7,490**
**2,043**|
|**6. Total resources expended**
**Charitable activities**
Centre operation
Activities undertaken directly
Costs for bar trading
Total|**Depreciation**
**Other costs**
**Total 2022**
Total 2021
**£**
**£**
**£**
£
**28,867**
**64,097**
**92,964**
**88,212**
**2,330**
**2,330**
**-**|
|---|---|
||**28,867**
**66,427**
**95,294**
**88,212**|
Governance costs include payments to independent examiner of £Nil (2021: £Nil) and £Nil (2021: £Nil) for other services.
## **7. Support costs**
|**Support costs**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|Repairs|**-**|**-**|
## **8. Trustees**
None of the trustees (nor any persons connected with them) received any remuneration during the year.
## **9. Employees**
There were no employees during the year.
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## THE GUILDFORD WATERSIDE CENTRE
## **10. Tangible fixed assets**
|**Tangible fixed assets**||||
|---|---|---|---|
|**Cost**
At 1 October 2021
Additions
**At 30 September 2022**
**Depreciation**
At 1 October 2021
Charge for the year
**At 30 September 2022**
**Net book value**
**At 30 September 2021**
At 30 September 2022
**Debtors**
Other debtors
Prepayments and accrued income
**Creditors: amounts falling due within one**
Other creditors
Accruals
Deferred income
**Creditors: amounts falling due after more**|**Land and buildings**
**Fixtures, fittings &**
**equipment**
**Total**
**£**
**£**
**£**
2,062,395
54,163
2,116,558
-
1,395
1,395|||
||**2,062,395**|
**55,558**
**2,117,953**||
||249,763
41,489
291,252
22,182
6,685
28,867|||
||**271,945**
**48,174**
**320,119**|||
||1,812,635
12,674
1,825,309|||
||1,790,451|
7,384|
1,797,834|
||**year**
**than one year**|**2022**
**£**
**9,904**|
2021
£
**610**
**9,556**|
|||**9,904**|
**10,166**|
|||**2022**
**£**
**50**
**3,620**
**586**|
2021
£
**1,359**
**982**
**414**|
|||**4,256**|
**2,755**|
|||**2022**
**£**
**-**|
2021
£
**-**|
|||**-**|
**-**|
.
## **11. Debtors**
**12. Creditors: amounts falling due within one year**
## **13. Creditors: amounts falling due after more than one year**
There were no creditors of more than one year duration.
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## THE GUILDFORD WATERSIDE CENTRE
## **14. Restricted funds**
The income funds of the charity include the following restricted funds which have been received with specific conditions for their use. The rebuilding fund are monies raised to rebuild the Centre. The Gate and fencing fund are monies donated for a new gate and fence.
|Rebuilding fund
Gate and fencing fund|**Movement in funds**
**Balance at 1**
**October 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at 30**
**September 2022**
**£**
**£**
**£**
**£**
**1,807,583**
**-**
**22,182**
**1,785,401**
**2,000**
**-**
**-**
**2,000**|
|---|---|
||**1,809,583**
**-**
**22,182**
**1,787,401**|
## **15. Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purpose of maintenance of the building.
|Maintenance of building|**Movement in funds**
**Balance at 1**
**October 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers Balance at 30**
**September**
**2022**
**£**
**£**
**£**
**£**
**£**
**17,054**
**-**
**-**
**3,000**
**20,054**|
|---|---|
||**17,054**
**-**
**-**
**3,000**
**20,054**|
The transfer is to capitalised fixtures and fittings within the unrestricted funds.
## **16. Analysis of net assets between funds**
|**Analysis of net assets between funds**||
|---|---|
|Fund balances at 30 September 2022 are
represented by:
Tangible fixed assets
Investments
Current assets
Creditors: amounts falling due within one year
Creditors: amounts falling due after one year|**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Total**
**£**
**£**
**£**
**£**
7,384
-
1,790,451
**1,797,834**
-
-
-
**-**
27,090
20,054
(3,050)
**44,094**
(4,256)
-
-
**(4,256)**
-
-
-
**-**|
||30,218
20,054
1,787,401
**1,837,673**|
## **17. Taxation**
The company is exempt from Corporation Tax on its charitable activities.
## **18. Related Party Transactions**
There were no related party transactions during the period.
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