Charity registration number 1112308 EXETER CITY SWIMMING CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
EXETER CITY SWIMMING CLUB LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrLJoy Ms K Vain Mrs C Board (Appointed 20 December 20221 (Appointed 20 December 20221 (Appointed 23 February 20231 (Appointed 1 May 20241 Mr T Biddick Mr J Walters Mr J Clemenls Charity number 1112308 Principal address 3 Glebelands Exminster EX6 8AR Independent examiner Darnells Chartered Accounlanls 30 Fore Street Totnes Devon TQ9 5RP
EXETER CITY SWIMMING CLUB CONTENTS Page Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes lo the financial slalements 6-13
EXETER CITY SWIMMING CLUB TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees present their annual report and financial statements for the year ended 30 September 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to tke accounts and comply with the charity's governing document, the Charities Act 2011 and 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 IFRS 1021" leffective 1 January 20191. Oblectlves and actlvltles The charity's objects are to provide opportunities lo swim and through regular training and competition for swimmers lo achieve their personal goals and enjoyment. The Iruslees have paid due regard to guidance issued by The Charity Commission in deciding what activities the charity should undertake. Achievement5 and performance During the year. Exeter City Swimming Club continued lo provide high-qualily teaching, coaching and training facilities for swimmers of all ages and abilities. We are proud of the achievements of our members in both regional and national competitions. reflecting the dedication and hard work of our coaches and volunteers. Our Club is dedicated lo achievement. Looking ahead the Club is committed lo further improving its coaching programmes enhancing facilities and expanding participation opportunities for members of the local community. We will continue lo work closely with stakeholders, including local authorities and funding bodies, lo achieve our objectives. Flnanclal rovl&w There was a surplus of income over expenditure for the year of £20,33412022'. £19,987). The surplus for the year was mainly due lo a focus on efficiency of expenditure, together with a small increase in membership fees, both supported by successful fundraising aclivilies. The surplus has been reinvest1 in the Club to enhance coaching programmes, upgrade equipment and maintsin facilities. It is the policy of the charity that unrestricted funds which have not been designated for a specrfic use should be maintained at a level equivalent to between three and six month's 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 additlDnal funds may be raised. Al the end of the year, the Club's unrestricted reserves stood at £61,798 12022.. £42,080), which is in line with our reserves policy. Total reserves stood at £62,4141£42,0801. Structur8, governance and managemont The charity is an unincorporated charity established by constitution as adopted 25 July 2005 and amended 6 August 2007, 14 April 2022 and 3 December 2022. The trustees who served during the year were.. MrLJoy Ms K Vain Mrs C Board Mr T Biddick Mr J Walters Mr C Trudgeon (Appointed 20 December 20221 IAppDinted 20 December 20221 (Appointed 23 February 20231 (Appointed 23 February 2023 and resigned 31 December 20231 (Appointed 1 May 20241 Mr J Clements
EXETER CITY SWIMMING CLUB TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees are appointed by approval of the members. The trustees are responsible for the overall governance and strategic direction of the Club. The trustees regularfy meet lo review performance, monitor finances and ensure compliance with legal and regulatory requirements. We are grateful lo all volunteers who contribute their time and expertise lo support the Club's aclivilies. Al the AGM held in December 2023, the members of the Club voted lo restructure the Charity lo the form of a Charitable Incorporated Organisalion ICIOI, which we expect lo take place during the last quarter of 2024. The trustees. report was approved by the Board of Trustees. Ms K Vain Trustee Dated.. Jul 11.2024
EXETER CITY SWIMMING CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EXETER CITY SWIMMING CLUB I report to the trustees on my examination of the financial slalements of Exeter City Swimming Club Ilhe charity) for the year ended 30 September 2023. Responsibilities and basis of report As the Iruslees of the charity you are responsible for the preparation of the financial slalements in accordance with the requirements of the CharitiesAct 2011 Ilhe 2011 Acti. I report in respect of my examination of the Charity's financial statements carried out under sedion 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charty Commission under section 14515llbl of the 2011 Ad. Independent examlnerfs statement Since the charity'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 l am qualified to undertake the examination because l am a Memb of The Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financial slalemenls do not accord wth those records., or the financial slalements do not comply with the applicable requirements conceming the fomi and content of accounts sel out in the Charities IAc¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order to enable a proper understsnding of the finsncial slalements lo be reached. ZJ Louisa Lulek FCA Darnells Chartered Accounlanls 30 Fore Street Totnes Devon TQ9 5RP Dated. 1510712024
EXETER CITY SWIMMING CLUB STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Totsl Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments 6,044 450,806 2,630 334 616 6,660 450,806 2,630 334 1,239 461,056 2,657 16 1,099 2,338 461,056 2,657 16 Total Income 459,814 616 460,430 464,968 1,099 466,067 Expenditure on: Raising funds Charitsble activits'es 3,581 436,515 3,581 438,515 1,857 442.624 1,857 444.223 1.599 Totsl expenditure 440,096 440,096 444,481 1,599 446,080 Net incoma and movement in funds 19,718 616 20,334 20,487 1500) 19,987 Reconclllatlon of funds.. Fund balances at 1 October 2022 42,080 42,080 21,593 500 22,093 Fund balances at 30 September 2023 61,798 616 62,414 42.080 42.080 The stslemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
EXETER CITY SWIMMING CLUB BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 Notes Current assets Stock5 Debtors Cash at bank and in hand 11 12 3,366 34,931 93,569 3,755 3,776 74,566 131,866 82,097 Crgdltors.. amounts falllng du9 wlthln one year 13 69,452 40,017 Nel current assets 62,414 42,080 The funds ofthe charfty Restricted income funds Unreslricled funds 15 616 61,798 42,080 62,414 42,080 The financial slalemenls were approved by the trustees on Jul 11, 2024 Ms K Vain Trustee
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies Charity information Exeter City Swimming Club is an unincorporated charity established by conslilulion in 2005 and amended in 2007 and 2022. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, leffeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalemenl of Cash Flows. The finanaal statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial slalements, the trustees have a reasonable expectslion that the charity has adequate resources to continue in operational existence for the foreseeable fLJture. Thus the trlee$ Continue to adopt the going concern basis of aontIng in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalemenls. 1A Income Income is recognised when the charity is legally entitled to it after any perf0mlan conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unles5 performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under GIftAid or deeds of covenant is recognised at the time of the donation. Legacies are Tecognised on receipt or olherwse if the charity has been notifièd of an Impending dislribulion, the amount is known, and receipt is expectèd. If the amount is not known, the legacy is Irealèd as a conlingenl asset. No amounts are included in the financial statements for services donated by volunteers. 1.5 Expendlture Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on the accruals basis and includes irrecoverable VAT. Expenditure is allocated to categories either on a direct or a usage basis.
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies (Continued) 1.6 Stocks Stocks are slated al the lower of cost and eslimaled selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured al the lower of replacement cost and cost. Net realisable value is the estimated selling pri less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.7 Cash and cash equivalents Cash and cash equivalents include Cash in hand, deposits held al call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilib'es. 1.8 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Finanaal instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Finanaal assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and sellle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted at a market rale of Interest. Financial assets c18ssified as receivable within one year are not amortised. Derecognition of financial assets Finanual liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing transaction, where the debt Instrument is measured at the present value of the future payment5 discounted at a market rale of Interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised Cost, using the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the Ordin course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Dereeognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Income from donations and legacies Unrastricted Rastricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Donations and gifts 616 8,660 1,239 1,099 2,338 Charitable activities 2023 2022 Membership Fees Training, Meet and Entry Fees Learn lo Swim Other income 81,005 160,743 208,259 799 72,304 184,792 202,331 1,629 450,806 461,056 Income from othor tradlng a¢llvltlg$ Unrestricted Unrestricted funds funds 2023 2022 Shop income 2,630 2,657 Income from investments Unrestrlcted Unrestrlcted funds funds 2023 2022 Interest receivable 334 16
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Expenditure on raising funds Unrastricted Unrestricted funds funds 2023 2022 Trading costs Operating charity shop 3,581 1,857 Charitable activities 2023 2022 Advancement of amateur sport and health Staff costs Affiliation fees Pool hire & lifeguards Coaching staff Smrim school costs 7,040 18.609 183,059 75,435 85.980 19.941 169,426 83,014 89.237 r li Training Training camp Equipment Meet costs Presentation & social events Administration costs Entry fees Other expenditure Bad debts 5,812 22 4.333 23,679 2,198 10,899 14.099 3,540 1,810 4,594 7,906 49 28,501 1,597 12,091 24,720 1,211 1,936 436,515 444,223 Analysis by fund Unreslricled funds Restricted funds 436,515 442,624 1,599 Forthe year ended 30 September 2022 Unreslricled funds Restricted funds 442,624 1.599 444,223 Payments lo the Independent Examiner for extemal scrutiny of the accounts amount lo £1,02012022 £5701.
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees Two12022 - bNol of the trustees lor any persons connected with them) received remuneration during the year totalling £10.011 12022 £8,622) for their administration services, lifeguarding, cleaning and swimming teaching. Payments were at market value. Three Trustees were reimbursed expenses totalling £13512022 no expenses reimbursed). Employoes One member of sL9ff was employed in the year. Employment costs 2023 2022 Wages and salaries Social security costs 8,681 379 7,040 10 Taxation The charity is exempt from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable GainsAd 1992 to the extent that these are applied to ils ¢haritsble objects. 11 Stocks 2023 2022 Finished goods and goods for resale 3,366 3.755 12 Debtors 2023 2022 Amounts falllng due wlthln one year: Trade debtors Prepayments and accrued income 22,681 12,250 3,776 34,931 3,776 10-
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 13 Creditors- amounts falling due within one year 2023 2022 Notes Other taxation and social security Deferred income Trade creditors Other creditors 1,072 29,324 38,036 1,020 14 6.600 21,211 12,206 69,452 40,017 14 Deferred income 2023 2022 Other deferred income 29,324 6.600 Deferred income is included in the financial statements as follows.. 2023 2022 Deferred income is included within.. Current liabilities 29,324 6,600 Movements in the year.. Deferred income al 1 October 2022 Released from previous periods ResoLJrces deferred in the year 6,600 16,6001 29,324 6,600 Deferred income al 30 September 2023 29,324 6,600 Deferred income arises from Wami Wnter Camp monies received in advan. 1 S Restricted funds The reslricled funds of the Charity arising through it's activities are as follows.. At 1 October 2022 Incoming resources Resources expended At30 September 2023 Access lo Swimming 616 616
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 15 Restricted funds (Continued) Previous year- At 1 October 2021 Incoming resourcey Resources expended At30 Septernber 2022 Training fiAeel fees 500 599 500 11,0991 15001 500 1,099 11,5991 The training restricted fund arose from grants received including from Devon CountyASA. The meet fees reslricled fund arose from funding for a meet al Millfield from Swim England. The Access to Sw"mming restricted fund arose from fundiaising lo ensure participation is not restricted by means. 16 Unrestricted funds The unrestricted funds of the ¢harity comprise the unexpended balan¢es of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific PLJrposes. At 1 October 2022 Incomlng resources Resources At30 expended September 2023 General funds 42,080 459,814 1440,0961 61,798 Prevlous year: At 1 October 2021 Incomlng resources Resources At30 expended September 2022 General funds 21,593 464,968 1444,4811 42,080 17 Analysis of net assets between funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 Fund balances at 30 September 2023 are represented by: Current assetsllliabilitiesl 61,798 616 62.414 61,798 616 62,414 12-
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 17 Analysis of net assets between funds (Continued) Unrestricted funds 2022 Restricted funds 2022 Total 2022 Fund balances at 30 September 2022 are representsd by: Current assetsllliabililiesl 42,080 42,080 42,080 42,080 18 Rolated party transacllons Mr M & Mrs C Board (Trusleel were reimbursed £1,300 in the year for garage rental used for storage.12022." No disclosable related party transactions arose). 13-
2023 Accounts for Signature - Exeter City Swimmng Club Final Audit Report 2024-07-11 Crvated.. 2024-07-10 By.. Ernilie Feaver lemilie.feaver@dame115.(L.ukl Status.. &gr Transaction 10.. CBJCHBCAABAAL216wyOPphGJyRi1lQOT-JVsDgCPW "2023 Accounts for Signature - Exeter City Swimmng Club" Histo Document created by Emilie Feaver (emilie.feaver@damells.co.ukl 2024-07-10- 8'.13'.26 PN GPvtF- IP 8ddr8ss.' 80.194.46.194 + Document emailed lo lreasurer@exelerswimming.com for signature 2024.07.10- 8..18..20 AM GMT Email viewed by treasLJrer@exeterswimming.com 2024-07-11 12.36".21 PM GMT- IP add$$. 104.47.85.62 Signer treasurer@exeterswimming.com entered name at signing as Kate Vain 2024-07-11 12'.36'.54 PM GMT- IP address.. 208.127.42.69 Document e-signed by Kale Vain ltreasurer@exeterswimming.coml Signature Date. 202&07_11 - 12..36..56 PM GMT. Time kn[.. seTver- IP address.. 208.127.42.69 Agreement completed. 2024-07-11 - 12.36."56 PM GMT Adobe Acrobat Sign