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2021-06-30-accounts

REGISTERED COMPANY NUMBER: 05837232 (England and Wales) REGISTERED CHARITY NUMBER: 1116154

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

BRIXHAM ADMIRAL SWIM COMPANY LTD

Barretts

Chartered Accountants & Chartered Tax Advisers

22 Union Street Newton Abbot Devon TQ12 2JS

BRIXHAM ADMIRAL SWIM COMPANY LTD

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 June 2021

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 13
Detailed Statement of Financial Activities 14 to 15

BRIXHAM ADMIRAL SWIM COMPANY LTD

REPORT OF THE TRUSTEES

for the Year Ended 30 June 2021

The charity runs a community swimming pool and community room. It is a heated indoor pool and aims to provide opportunities for leisure and recreation, the teaching of swimming, swimming coaching through Brixham Swimming Club. It works closely with other agencies and groups and groups including the Torbay Care Trust, local schools and colleges, groups specialising in work with the disabled.

OBJECTIVES AND ACTIVITIES

Objectives and aims

To promote, provide and/or assist in the provision of leisure, health, educational and aquatic facilities for the benefit of the inhabitants of Brixham and the surrounding area. For recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life and lifestyle of the said inhabitants.

Significant activities

The charity considers maintaining the pool and its surrounds at a high level to be key to its operation. The Trustees continually look for ways to achieve energy efficiency and cost efficiencies as a result.

Public benefit

The trustees are aware of the charity commission's guidance on public benefit and have regard for it in their administration of the trust as illustrated by the pursuit of its objectives as set out in this report.

Page 1

BRIXHAM ADMIRAL SWIM COMPANY LTD

REPORT OF THE TRUSTEES

for the Year Ended 30 June 2021

ACHIEVEMENT AND PERFORMANCE

Review of the year

CHAIRMAN’S REPORT

With the pandemic effects continuing in the leisure and hospitality sector we are very proud that we have been able to re-open the pool as soon as possible following lockdowns, providing a vital service to the local community, which many pools have not been able to do. In terms of actions we have:

difficult year, to recover and re-open following COVID restrictions. These include:-

We are pleased that all the measures taken above have led to our finances improving again over the last year - all this despite having to

The Trustees consider that the charity has sufficient reserves and good prospects for the future.

The local community continue to support us and over the year. We have received several financial donations and we are very grateful for this and the continuing support of Brixham Swimming Club and all our volunteers. Thank you.

Mike Seffert, Chairman of the Board of Trustees

Page 2

BRIXHAM ADMIRAL SWIM COMPANY LTD

REPORT OF THE TRUSTEES

for the Year Ended 30 June 2021

FINANCIAL REVIEW

Reserves policy

The Trustees consider it appropriate that the objective of the reserves policy is to protect the organisation against future events and that a level of reserves are held to protect the charity from closure should financial difficulties arise. The Trustees consider that the minimum reserve level is the minimum cash balance of the organisation available for 3 months of keeping the pool open at minimum running costs. The upper limit for reserves being for 12 months of minimum running costs:

Minimum
Upper limit		 Minimum
Upper limit		 Minimum
Upper limit
Salary Cost of two full time employees
 £13,388
 £53,550
Minimum running costs (at 50%)
 £9,287
 £37,147

Total reserve
 £22,675
 £90,697

Running costs being: Cleaning & Hygiene, Insurance, chemicals, admin costs, rent and rates and all utilities.

This year has seen no change to the method of the reserves calculation.

The Trustees consider that in the unlikely event of the charity having to cease operations, the minimum cash and investment reserve together with the value of non-cash net assets would be sufficient to pay winding up liabilities. Should these reserves fall below this level, for whatever reason, immediate steps will be taken to reinstate them over a reasonable period.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by Memorandum and Articles of Association drawn up on incorporation, 5th June 2006, as amended on 15th November 2006 and on 28th February 2017, and by a certificate of change of name dated 27th January 2009. The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

Trustees are appointed to reflect the needs of the charity - organisational, human relations, financial and legal. They are appropriately trained on the lines suggested by the Commission and keep up to date by attendance at professional seminars and/or reading professional and Commission publications.

Whilst accepting responsibility for all aspects of the Company, day to day management is delegated to the Centre Manager, Phil Thomas, who leads the team.

The Trustees meet monthly to review all aspects of the Trust's work. The Centre Manager is always present at these meetings for relevant agenda items.

Each worker is allotted a trustee as a personal mentor.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05837232 (England and Wales)

Registered Charity number

1116154

Registered office

Admiral Swimming Centre Higher Ranscombe Road Brixham Devon TQ5 9HF

Page 3

BRIXHAM ADMIRAL SWIM COMPANY LTD

REPORT OF THE TRUSTEES

for the Year Ended 30 June 2021

Trustees

Mrs B Munnings (resigned 12.3.21) M Morey J Hill M J Seffert Ms J Minchinton Mrs S Pearce

Company Secretary

Mrs S Pearce

Independent Examiner

I P Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

Approved by order of the board of trustees on 22 December 2021 and signed on its behalf by:

J Hill - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIXHAM ADMIRAL SWIM COMPANY LTD

Independent examiner's report to the trustees of Brixham Admiral Swim Company Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity's 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 charity'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

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:

  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

  2. 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

  3. 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.

I P Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

22 December 2021

Page 5

BRIXHAM ADMIRAL SWIM COMPANY LTD

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 June 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
66,993
Charitable activities
General
123,260
Other trading activities
2
-
Investment income
3
7
Total
190,260
EXPENDITURE ON
Charitable activities
General
210,403
Other
122
Total
210,525
NET INCOME/(EXPENDITURE)
(20,265)
RECONCILIATION OF FUNDS
Total funds brought forward
505,678
TOTAL FUNDS CARRIED FORWARD
485,413		 Restricted
funds
£
6,104
-
-
-
6,104
6,104
-
6,104
-
-
-		 2021
Total
funds
£
73,097
123,260
-
7
196,364
216,507
122
216,629
(20,265)
505,678
485,413		 2020
Total
funds
£
26,999
166,145
24,817
34
217,995
274,265
702
274,967
(56,972)
562,650
505,678

The notes form part of these financial statements

Page 6

BRIXHAM ADMIRAL SWIM COMPANY LTD

BALANCE SHEET

30 June 2021

Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
439,938
1,750
5,273
77,779
84,802
(39,327)
45,475
485,413
485,413		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
439,938
1,750
5,273
77,779
84,802
(39,327)
45,475
485,413
485,413
485,413
485,413		 2020
Total
funds
£
494,727
1,379
8,425
26,667
36,471
(25,520)
10,951
505,678
505,678
505,678
505,678

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

BRIXHAM ADMIRAL SWIM COMPANY LTD

BALANCE SHEET - continued

30 June 2021

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

The financial statements were approved by the Board of Trustees and authorised for issue on 22 December 2021 and were signed on its behalf by:

J Hill - Trustee

The notes form part of these financial statements

Page 8

BRIXHAM ADMIRAL SWIM COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 June 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold improvements - straight line over 21 years, being the length of the lease Plant & machinery - 20% per annum on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

Covid support grant 2021
£
-		 2020
£
24,817

continued...

Page 9

BRIXHAM ADMIRAL SWIM COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021

3. INVESTMENT INCOME

Bank account interest
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2021
£
7
2021
£
54,789		 2020 2020
£
34
2020
£
54,789

4. NET INCOME/(EXPENDITURE)

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

Employees
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
26,999
Charitable activities
General
166,145
Other trading activities
24,817
Investment income
34
Total
217,995
EXPENDITURE ON
Charitable activities
General
274,265
Other
702
Total
274,967		 2021
15
Restricted
funds
£
-
-
-
-
-
-
-
-		 2020
21
Total
funds
£
26,999
166,145
24,817
34
217,995
274,265
702
274,967

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 10

BRIXHAM ADMIRAL SWIM COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
NET INCOME/(EXPENDITURE)
(56,972)
RECONCILIATION OF FUNDS
Total funds brought forward
562,650
TOTAL FUNDS CARRIED FORWARD
505,678
8.
TANGIBLE FIXED ASSETS
Long
leasehold
£
COST
At 1 July 2020 and 30 June 2021
1,102,756
DEPRECIATION
At 1 July 2020
614,092
Charge for year
52,512
At 30 June 2021
666,604
NET BOOK VALUE
At 30 June 2021
436,152
At 30 June 2020
488,664
9.
STOCKS
Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors		 7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
NET INCOME/(EXPENDITURE)
(56,972)
RECONCILIATION OF FUNDS
Total funds brought forward
562,650
TOTAL FUNDS CARRIED FORWARD
505,678
8.
TANGIBLE FIXED ASSETS
Long
leasehold
£
COST
At 1 July 2020 and 30 June 2021
1,102,756
DEPRECIATION
At 1 July 2020
614,092
Charge for year
52,512
At 30 June 2021
666,604
NET BOOK VALUE
At 30 June 2021
436,152
At 30 June 2020
488,664
9.
STOCKS
Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors		 - continued
Restricted
funds
£
-
-
-
Plant and
machinery
£
37,879
31,816
2,277
34,093
3,786		 - continued
Restricted
funds
£
-
-
-
Plant and
machinery
£
37,879
31,816
2,277
34,093
3,786
488,664 6,063
2021
£
1,750
2021
£
5,273

continued...

Page 11

BRIXHAM ADMIRAL SWIM COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
12.
MOVEMENT IN FUNDS
At 1.7.20
£
Unrestricted funds
General fund
505,678
TOTAL FUNDS
505,678
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
190,260
Restricted funds
Restricted grants
6,104
TOTAL FUNDS
196,364
Comparatives for movement in funds
At 1.7.19
£
Unrestricted funds
General fund
562,650
TOTAL FUNDS
562,650
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
217,995
TOTAL FUNDS
217,995		 2021
2020
£
£
39,327
25,520
Net
movement
At
in funds
30.6.21
£
£
(20,265)
485,413
(20,265)
485,413
Resources
Movement
expended
in funds
£
£
(210,525)
(20,265)
(6,104)
-
(216,629)
(20,265)
Net
movement
At
in funds
30.6.20
£
£
(56,972)
505,678
(56,972)
505,678
Resources
Movement
expended
in funds
£
£
(274,967)
(56,972)
(274,967)
(56,972)		 2020
£
25,520

continued...

Page 12

BRIXHAM ADMIRAL SWIM COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2021

12. MOVEMENT IN FUNDS - continued

Two grants were received in the year from Sport England: Sport England: Return to Play (£1,040) Sport England Inequalities Fund - Active Devon (£5,064)

Both grants were spent in the year.

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2021.

Page 13

BRIXHAM ADMIRAL SWIM COMPANY LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Covid support grant
Investment income
Bank account interest
Charitable activities
Membership
Pool receipts
Swimming groups & lessons
Education
Clubs & organisations
Shop income
Hire of pool & rooms
Vending machine
Advertising income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Cleaning & hygiene
Insurance
Pool chemicals
Telephone
Sundries
Office expenses
Rent & rates
Stock purchases
Light & heat
Water
Repairs & renewals
Long leasehold
Plant and machinery		 2021
£
5,663
67,434
73,097
-
7
-
21,713
33,962
39,823
-
1,341
26,071
350
-
123,260
196,364
101,619
1,289
8,039
2,215
457
330
3,038
500
3,386
31,404
1,740
6,968
52,512
2,277
215,774		 2020
£
1,999
25,000
26,999
24,817
34
5,813
43,959
49,354
15,610
2,119
4,065
40,251
3,704
1,270
166,145
217,995
127,811
3,367
8,067
3,176
516
625
1,966
375
3,565
46,341
6,987
15,947
52,512
2,277
273,532

This page does not form part of the statutory financial statements

Page 14

BRIXHAM ADMIRAL SWIM COMPANY LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 June 2021
Charitable activities
Other
Credit card charges
Support costs
Governance costs
Accountancy fees
Total resources expended
Net expenditure		 2021
£
122
733
216,629
(20,265)		 2020
£
702
733
274,967
(56,972)

This page does not form part of the statutory financial statements

Page 15