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 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
BRIXHAM ADMIRAL SWIM COMPANY LTD
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2022
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.
ACHIEVEMENT AND PERFORMANCE Review of the year
CHAIRMAN’S REPORT
With the pandemic effects continuing in the leisure and hospitality sector we are again very proud that we have been able to keep the pool open despite periodic increases in COVID infections. Many pools have been unable or slow to reopen. In terms of actions we have been successful in receiving a number of grants to help us recover and remain open. These are:-
o Sport England: Community Leisure Recovery Fund (£40,934) o Postcode Local Trust (South West) (£16,500); and
o Applicable Government COVID-19 related grants.
We are very grateful to our two major funders last year. The Postcode Local Trust funded our gas, water and electricity bills for 3 months. The Sport England Community Leisure Recovery Fund supported the re-opening of the pool following COVID closures and in addition we benefitted from a consultant advising on pool recovery after COVID.
We continue to take economy measures to reduce our costs wherever possible. We also increased our fees in advance of increasing energy costs.
We are pleased that all the grants received and measures taken have led to our finances improving again over the last year - all this despite having to
-
restrict numbers of people using the pool; and
-
close the pool at various times during the day for additional cleaning.
The grants plus economy measures put us in a strong position to cope with the large increases in gas and electricity costs we face in the next financial year.
The Trustees consider that the charity has sufficient reserves and good prospects for the future.
The local community continue to support us over the year both with donations and returning to the pool in large numbers. Our Monday Swim School is proving very popular with the addition of a new Friday Swim School. 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 1
BRIXHAM ADMIRAL SWIM COMPANY LTD
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2022
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 |
£14,057 |
£56,228 |
| Minimum running costs (at 50%) |
£9,751 |
£39,004 |
Total reserve |
£23,808 |
£95,232 |
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
Trustees
M Morey J Hill M J Seffert Ms J Minchinton Mrs S Pearce
Page 2
BRIXHAM ADMIRAL SWIM COMPANY LTD
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2022
REFERENCE AND ADMINISTRATIVE DETAILS 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 23 March 2023 and signed on its behalf by:
J Hill - Trustee
Page 3
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 2022.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA FCIE 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:
-
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
-
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
-
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
27 March 2023
Page 4
BRIXHAM ADMIRAL SWIM COMPANY LTD
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 June 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 71,034 Charitable activities General 240,006 Investment income 2 11 Total 311,051 EXPENDITURE ON Charitable activities General 303,725 Other 426 Total 304,151 NET INCOME/(EXPENDITURE) 6,900 RECONCILIATION OF FUNDS Total funds brought forward 485,413 TOTAL FUNDS CARRIED FORWARD 492,313 |
Restricted funds £ - - - - - - - - - - |
2022 Total funds £ 71,034 240,006 11 311,051 303,725 426 304,151 6,900 485,413 492,313 |
2021 Total funds £ 73,097 |
|---|---|---|---|
| 123,260 | |||
| 7 | |||
| 196,364 | |||
| 216,507 | |||
| 122 | |||
| 216,629 | |||
| (20,265) | |||
| 505,678 | |||
| 485,413 |
The notes form part of these financial statements
Page 5
BRIXHAM ADMIRAL SWIM COMPANY LTD
BALANCE SHEET
30 June 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 389,821 CURRENT ASSETS Stocks 8 1,486 Debtors 9 4,840 Cash at bank 124,921 131,247 CREDITORS Amounts falling due within one year 10 (28,755) NET CURRENT ASSETS 102,492 TOTAL ASSETS LESS CURRENT LIABILITIES 492,313 NET ASSETS 492,313 FUNDS 11 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
2022 Total funds £ 389,821 1,486 4,840 124,921 131,247 (28,755) 102,492 492,313 492,313 492,313 492,313 |
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 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
BRIXHAM ADMIRAL SWIM COMPANY LTD
BALANCE SHEET - continued
30 June 2022
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 23 March 2023 and were signed on its behalf by:
J Hill - Trustee
The notes form part of these financial statements
Page 7
BRIXHAM ADMIRAL SWIM COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 June 2022
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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Bank account interest | 11 | 7 |
continued...
Page 8
BRIXHAM ADMIRAL SWIM COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2022
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets | 2022 £ 55,957 |
2021 |
|---|---|---|
| £ 54,789 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 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 66,993 Charitable activities General 123,260 Investment income 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 |
2022 19 Restricted funds £ 6,104 - - 6,104 6,104 - 6,104 - - |
2021 |
|---|---|---|
| 15 | ||
| Total funds £ 73,097 123,260 7 |
||
| 196,364 | ||
| 216,507 122 |
||
| 216,629 | ||
| (20,265) 505,678 |
continued...
Page 9
BRIXHAM ADMIRAL SWIM COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2022
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 485,413 7. TANGIBLE FIXED ASSETS Long leasehold £ COST At 1 July 2021 1,102,756 Additions - At 30 June 2022 1,102,756 DEPRECIATION At 1 July 2021 666,604 Charge for year 52,512 At 30 June 2022 719,116 NET BOOK VALUE At 30 June 2022 383,640 At 30 June 2021 436,152 8. STOCKS Stocks 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 485,413 7. TANGIBLE FIXED ASSETS Long leasehold £ COST At 1 July 2021 1,102,756 Additions - At 30 June 2022 1,102,756 DEPRECIATION At 1 July 2021 666,604 Charge for year 52,512 At 30 June 2022 719,116 NET BOOK VALUE At 30 June 2022 383,640 At 30 June 2021 436,152 8. STOCKS Stocks 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
- continued Restricted funds £ - Plant and machinery £ 37,879 5,840 43,719 34,093 3,445 37,538 6,181 |
- continued Restricted funds £ - Plant and machinery £ 37,879 5,840 43,719 34,093 3,445 37,538 6,181 |
Total funds £ 485,413 Totals £ 1,140,635 5,840 1,146,475 700,697 55,957 756,654 389,821 |
Total funds £ |
Total funds £ |
|---|---|---|---|---|---|---|
| 485,413 | ||||||
| 436,152 | 3,786 | 439,938 | ||||
| 2022 £ 1,486 2022 £ 4,840 |
||||||
| 2021 £ |
||||||
| 1,750 | ||||||
| 2021 £ |
||||||
| 5,273 | ||||||
continued...
Page 10
BRIXHAM ADMIRAL SWIM COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2022
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors 11. MOVEMENT IN FUNDS At 1.7.21 £ Unrestricted funds General fund 485,413 TOTAL FUNDS 485,413 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 311,051 TOTAL FUNDS 311,051 Comparatives for movement in funds At 1.7.20 £ Unrestricted funds General fund 505,678 TOTAL FUNDS 505,678 Comparative 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 |
2022 2021 £ £ 28,755 39,327 Net movement At in funds 30.6.22 £ £ 6,900 492,313 6,900 492,313 Resources Movement expended in funds £ £ (304,151) 6,900 (304,151) 6,900 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) |
2021 £ |
|
|---|---|---|---|
| 39,327 | |||
continued...
Page 11
BRIXHAM ADMIRAL SWIM COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2022
11. MOVEMENT IN FUNDS - continued
Grants received and spent in the year were:
Sport England: Community Leisure Recovery Fund £40,934 Postcode Local Trust : £16,500
The charity also claimed available Covid 19 support grants.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2022.
Page 12
BRIXHAM ADMIRAL SWIM COMPANY LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Investment income Bank account interest Charitable activities Pool receipts Swimming groups & lessons Education 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 Other Credit card charges Support costs |
2022 £ 9,586 61,448 71,034 11 71,075 54,031 33,076 1,659 76,840 2,916 409 240,006 311,051 132,855 4,573 8,038 3,987 442 567 2,827 625 3,310 65,170 6,913 17,741 52,512 3,445 303,005 426 |
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 2,277 215,774 122 |
|---|---|---|
This page does not form part of the statutory financial statements
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BRIXHAM ADMIRAL SWIM COMPANY LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2022 |
||
|---|---|---|
| Support costs Governance costs Accountancy fees Total resources expended Net income/(expenditure) |
2022 £ 720 304,151 6,900 |
2021 £ |
| 733 216,629 (20,265) |
This page does not form part of the statutory financial statements
Page 14