Charity registration number 1112308 (England and Wales) EXETER CITY SWIMMING CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
EXETER CITY SWIMMING CLUB LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrLJoy Ms K Vain Mrs C Board Mr J Walters Mr J Clements Mr J Wayland (Appointed 1 May 2024) (Appointed 3 December 2024} Charity number 1112308 Principal address 3 Glebelands Exminster EX6 8AR Independent examiner Damells Chartered Accountants 30 Fore Street Totnes Devon TQ9 5RP
EXETER CITY SWIMMING CLUB CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 7-14
EXETER CITY SWIMMING CLUB TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 2024. 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 goveming document, the Charilies Act 2011 and 'Accounting and Reporting by Charities.- Statement of Recommended Practi applicable to charities preparing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and activities The charity's objects are to provide opportunities to swim and through regular training and competition for swimmers to achieve their personal goals and enjoyment. The trustees have paid due regard to guidance issued by The Charity Commission in deciding what activities the charity should undertake. Achievements and performance The 202312024 season has been a year of exceptional grovAh and success for Exeter City Swimming Club. Our swimmers, coaches. and volunteers have demonstrated remarkable commitment, resulting in strong competitive perfornians, increased participation, and continued Community engagement. 2024 Devon Count Cham ionshi The highlight of the competitive calendar was the 2024 Devon County Championships, held over three weekends at the Plymouth Life Centre. Exeter City Swimming Club took its largest-ever team of 84 swimmers, aged from 9 years upwards, to compete against the best in the county. Key achievements.. 131 medals won across all age groups. 105 personal bests out of 173 entries (61 OA PB rate). 1,447 points scored with an average perf0mlan rating of 348.2. Ranked among the topperforming dubs in the county. ment and Coachin Develo Our Learn to Swim, training and perfomiance pathways continue to thrive, with many young swimmers progressing into competitive squads. The dub has invested in.. Enhanced land training and strength & conditioning sessions. Mental resilience workshops to support athlete wellbeing and perf0mlan. Additional equipment to ensure efficiency of operations and data protection. Community and Inclusion We remain committed to providing inclusive and acSsible swmming opportunities. Our outreach initiatives and financial support schemes ensure that all children, regardless of background, can participate and thrive in the sport. Financial review There was a deficit of income over expenditure for the year of £61,565 {2023.' surplus of £20,334). The deficit arose from an increase in costs and in particular wages costs, pool hire and lifeguards and administration costs. Action is being taken to address this wth squad fees being increased by 250A from January 2025.
EXETER CITY SWIMMING CLUB TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 It is the policy of the charity that unrestricted funds which have not been designated for a specific 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 additional funds may be raised. At the end of the year, the Club's unrestricted reserves stood at £849 (2023: £61,798), which is below our reserves policy. Total reserves stood at £849 (£62,414). Squad fees have been increased by 250kn from January 2025 to rectify the situation. Plans for future Looking ahead to the 202412025 season, Exeter City Swimming Club is committed to building on the successes of the past year and continuing to provide high-quality swimming opportunities for all members. Our strategic priorities for the coming year indude= Expanding Competitive Opportunities Increase participation in regional and national competitions, induding Swim England National Championships and Arena League. Introduce more targeted training camps and ra preparation workshops for perfomance squads. Facility and Equipment Investment Work with local partners to secure additional pc1 time and improve access to training facilities. Invest in updated training equipment, including resistance tools and technology to enhance stroke analysis. Coach Development and Volunteer Support Provide ongoing professional development for ¢oa¢hes, induding workshops, mentoring, and external qualifications. Launch a new volunteer engagement programme to support club operations and events. Pathway Development Strengthen the transition from Leam to Swim to competitive squads through clearer progression criteria and swimmer tracking. Introduce a 'Swimmer Handbook" initiative to identify and support swmmers from a younger age. Community Outreach and Inclusion Expand partnerships with local schools and community groups to promote swmming participation. Continue lo offer financial assistance schemes to ensure wherever possible, no swimmer is excluded due to cost. Sustainability and Governance Review and updale club policies to align with Swm England's latest guidance. Explore environmentally sustainable practices in club operations and events. Structure, governance and management 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 twstees who served during the yearwere.. Mr L Joyce Ms Kvain Mrs C Board Mr T Biddick Mr J Walters Mr C Trudgeon Mr J Clements Mr J Wayland Ms C O'Reilly Ms R Simpson (Resigned 29 January 2025) (Resigned 31 December 2023) (Appointed 1 May 2024) (Appointed 3 December 2024) (Appointed 3 December 2024 and resigned 11 April 2025} (Appointed 3 December 2024 and resigned 30 January 2025) The Trustees are appointed by approval of the members. The trustees are responsible for the overall g0Veman and strategic direction of the Club. The trustees regularly meet to review perfomiance, monitor finances and ensure compliance with legal and regulatory requirements. We are grateful to all volunteers who contribute their time and expertise to support the Club's activities.
EXETER CITY SWIMMING CLUB TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 At the AGM held in December 2023, the members of the Club voted to restructure the Charity to the form of Charitsble Incorporated Organisation (CIO). which was fomied on 27 November 2024 and the intention is to transfer these activities at 1 October 2025. The trustees, report was approved by the Board of Trustees. Ms K Vain Trustee 29/0712025
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 finanaal statements of Exeter City Swimming Club (the charity) for the year ended 30 September 2024. Responsibilities and basis of report As the trustees of Ihe charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Diredions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. Independent examinerfs statement Since the charity's gross income exeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England & Ilkles, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord wth those records: or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. zJa Louisa Lulek FCA Darnells Chartered Accountants 30 Fore Street Totnes Devon TQ9 5RP Dated: . 29107125
EXETER CITY SWIMMING CLUB STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitsble activities other trading activities Investments 547 495,053 2,633 549 547 495,053 2,633 549 616 6,660 450,806 2,630 334 450,806 2,630 334 Total income 498,782 498,782 459,814 616 460,430 Expenditure on: Raising funds Charitable activities 2.882 556.849 2,882 557.465 3,581 436,515 3,581 436,515 616 Total expenditure 559.731 616 560.347 440,096 440,096 Net incomel(expenditure) and movement in funds (60,949) (616) (61,565) 19,718 616 20,334 Reconciliation of funds: Fund balances at 1 October 2023 61.798 616 62.414 42,080 42.080 Fund balances at 30 September 2024 61,798 616 62,414 The statement of financial activities indudes 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 2024 2024 2023 Notes Current assets Stocks Debtors Cash at bank and in hand 12 13 4.384 18.176 28.290 3.366 34.931 93.569 50,850 131,866 Creditors: amounts falling due within one year 14 (50.001) (69,452) Net current assets 62,414 The funds of the charity Restricted income funds Unrestricted funds 17 18 616 61,798 62,414 The financial statements were approved by the trustees on . 29107125 Vai Ms Kvain Trustee
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Charity information Exeter City Swimming Club is an unincorporated charity established by constitution 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 Charilies Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). (effective 1 January 2019). 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 to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. vthich 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 Concem At the time of approving the financial statements, the twstees have a reasonable expectation thal the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting 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. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomiance conditions have been met, 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 On the charity has been notified of the donation, unless performance conditions require defeal of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othewse if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. No amounts are induded in the financial statements for services donated by volunteers. 1.5 Expenditure 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 (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies {Continued) 1.6 stocks Stocks are staled at the lower of cost and estimated selling pri less costs to 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 at 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 at 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 liabilities. 1.8 Financial 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. Financial instruments are recognised in the charity's balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial assets Financial liabilities are derecognised vthen 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 at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition 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 (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies {Continued) 1.9 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts 547 547 616 6,660 Charitable activities 2024 2023 Membership Fees Training, Meet and Entry Fees Learn to Swim Other income 90,892 190,434 212,937 790 81,005 160,743 208,259 799 495,053 450,806 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Shop income 2,633 2,630 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 549 334
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Trading costs Operating charity shops 2,882 3,581 Charitable activities 2024 2023 Advancement of amateur sport and health Staff costs Affiliation fees Pool hire & lifeguards Coaching staff Swim school costs Training Training camp Equipment Meet costs Presentation & social events Administration costs Entry fees Other expenditure Bad debts 39,658 20,465 203,030 76,040 92,105 2,699 22,253 1,118 24,609 852 23,629 27,634 1,782 7,512 7.040 18,609 183,059 75,435 85,980 5,812 22 4,333 23,679 2,198 10,899 14,099 3,540 1.810 Share of governance costs (see note 8) 14,079 557,465 436,515 Analysis by fund Unrestricted funds Restricted funds 556,849 616 436,515 557,465 436,515 For the year ended 30 September 2023 Unrestricted funds 436,515 Payments to the Independent Examiner for external s¢wtiny of the accounts amount to £1,020 {2023 £1,020). 10-
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support costs allocated to activities 2024 2023 Governan costs 14.079 Analysed between: Legal and professional 14,079 Trustees Five12023 - 0) of the trustees (or any persons connected wth them) received remuneration during the year totalling £7,079 {2023 £10,011) for their administration services. lifeguarding, cleaning and swimming teaching. Payments were at market value. No Twstees were reimbursed expenses (2023.. three Trustees were reimbursed expenses of £135). 10 Employees One member of staff was employed in the year (2023: one). Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 39,075 (3131 896 6,661 379 39,658 7.040 11 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Stocks 2024 2023 Finished goods and goods for resale 4,384 3,366 11
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 12.739 5.437 22.681 12.250 18,176 34,931 14 Creditors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 3.159 1.072 29.324 38.036 1.020 15 28.669 17.950 223 50,001 69,452 15 Deferred income 2024 2023 Other deferred income 29,324 Deferred income is included in the financial statements as follows- 2024 2023 Deferred income is included within.. Cuent liabilities 29.324 Movements in the year.. Deferred income at 1 October 2023 Released from previous periods Resources deferred in the year 29,324 (29,324) 6.600 {6,600) 29,324 Deferred income at 30 September 2024 29,324 Deferred income arises from Warm INnter Camp monies received in advance. 12-
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 16 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 896 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 17 Restricted funds The restricted funds of the Charity arising through it's activities are as follows: At 1 October 2023 Incoming resources Resources At30 expended September 2024 Access to Swimming 616 (616) Previous year: At 1 October 2022 Incoming resources Resources At30 expended September 2023 Access to Swimming 616 616 The Access to Swimming restricted fund arose from fvndraising to ensure participation is not restricted by means. 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances 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 fvnds by the trustees for specific purposes. At 1 October 2023 Incoming resources Resources expended At30 September 2024 General funds 61,798 498,782 1559,731) 13-
EXETER CITY SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 18 unstrICted funds {Continued) PVIouS year: At 1 October 2022 Incoming resources Resources expended At30 September 2023 General funds 42.080 459.814 1440,096) 61.798 19 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 30 September 2024: Current assetsl{liabilities) Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 30 September 2023: Current assetsl{liabilities) 61,798 616 62,414 61,798 616 62,414 20 Events after the reporting date On 27 November 2024, a Charitable Incorporated Organisation (C.l.O.) was fomied and the intention is to transfer the activities of the Club with effect from 1 October 2025. 21 Related party transactions Mr M & Mrs C Board (Trustee) were reimbursed £1,300 in the year for garage rental used for storage. {2023: £1,300}. There were no other related party transathons. 14-
Accounts 2024 - Exeter City Swimming Club Final Audit Report 2025-07-29 Created.. 2025-07-29 By.. Megan Newton-whrte Imegan.newton4thite@damells.IXJ.ukl Status.. Signed Transaction ID.. CBJCHBCAABMdioa97B03T11kn7-wSNOE4KT4q6jvUC "Accounts 2024 - Exeter City Swimming Club" History Documenl created by Megan Newton-white (megan.newton-white@damells.co.uk) 2025-07-29- 10'.46:04 AM GMT Document emailed to katevain@exeterswimming.com for signature 202M7-29- 10.'47:09 AM GMT Email viewed by katevain@exeterswimming.com 202M7-29- 10.'47:42 AM GMT Signer katevain@exeterswimming.com entered name at signing as Kate Vain 202M7-29- 10.'53:09 AM GMT o Document e-signed by Kate Vain (katevain@exeterswimming.com) Signature Dale: 2025-07-29- 10..53:11 AM GMT- Time Sour(t'. server Agreement completed. 202&07-29- 10..53=11 AM GMT