COMPANY REGISTRATION NUMBER: 06805012 CHARITY REGISTRATION NUMBER: 1132102
Beccles Lido Limited Company Limited by Guarantee Unaudited financial statements 31 January 2023
Beccles Lido Limited
Company Limited by Guarantee
Financial statements
Year ended 31 January 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 |
| Independent examiner's report to the trustees | 15 |
| Statement of financial activities (including income and expenditure account) | 16 |
| Balance sheet | 17 |
| Statement of cash flows | 19 |
| Notes to the financial statements | 20 |
Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 January 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 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 published in October 2019.
Chair's report
I am delighted to have joined the Board as Chair of a Charity with strongly performing assets, but at a point in its evolution where it needed a broader, stronger Board and better strategic direction; as well as tighter scrutiny and controls. In combination, this will ensure that the Charity continues to meet the needs of the community it serves, while at the same time doing so sustainably and within the charitable and regulatory frameworks it operates.
As the board continues to evolve and grow, the most notable change is the development of subcommittees and working groups. These have been designed to ensure that the Board continues to operate with full oversight on the strategic vision, but also to ensure that Beccles Lido Limited is putting the right resources into where they are needed.
As a new Trustee it has been hugely encouraging to see the dedicated team of volunteers and staff, and the eco-system of valued suppliers and partners. I would like to take this opportunity to extend my thanks to all of them, without whom the Charity and its assets would not be able to operate with the success that they do.
Lee Johnson Chair
Outgoing Chair's report
After 14 years as Chair/Vice Chair and more recently, following Vicky Russ' resignation, acting Chair, I am very pleased to welcome Lee as our new Chair. We also have new Board members to carry us forward. It has been my pleasure to steer us thus far, but we need new ideas from new people to continue the valuable work achieved so far.
I hope to continue my Trustee role and volunteer work with the Charity for the foreseeable future and I look forward to some exciting new projects.
Without our dedicated team of volunteers, as well as our salaried staff and trusted suppliers and partners, the Charity could not have flourished as it has, and my sincere thanks go out to all of them.
Maureen Saunders Trustee
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Reference and administrative details
Registered charity name Beccles Lido Limited Charity registration number 1132102 Company registration number 06805012 Principal office and registered 6 Cromwell Close office Beccles Suffolk NR34 9XE
The trustees
The trustees who served during the year and at the date of approval were as follows:
Mr L Johnson (Chair) (appointed 19 April 2023, appointed Chair 25 May 2023) Mrs M Saunders (acting Chair from December 2022 to May 2023) Ms V Russ (resigned 31 December 2022) Mrs J Claridge Mrs S Gibbons (Secretary) Mr D Howson Ms E Orford (appointed 16 February 2023) Ms N Pakenham (appointed 16 February 2023) Mr R Peacock (appointed 16 February 2023) Mr D Saunders (appointed 16 February 2023) Ms T Woolner (appointed 16 February 2023)
Managing director Mr S Crowley Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers Barclays Bank Plc 23c New Market Beccles Suffolk NR34 9HD CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Objectives and activities
To promote for the benefits of the inhabitants of Beccles and the surrounding area the provision of carefully selected assets, particularly a Lido (open air swimming pool and recreation area), Beccles Public Hall & Theatre (theatre and community meeting space) and the Big Dog Ferry; in the interests of social welfare, health, fitness, mental well-being, education, culture, artistic and other leisure pursuits of the said inhabitants.
The vision that has shaped our annual activities since the Charity was set up has been focused on providing leisure facilities for the people of Beccles and surrounding area. The three main activities at this time are Beccles Lido, Beccles Public Hall & Theatre and Big Dog Ferry, each of which would otherwise have closed.
In shaping our objectives for the year and planning our activities, the Trustees considered the Charity Commission's guidance on public benefit, including the guidance "Public Benefit: running a charity (PB2)". Beccles Lido Limited activities rely on income from Lido users, from events at the Hall and Hall hire, and from customers for the Big Dog Ferry services, to cover operating costs. All three operations supplement operating income with fundraising, donations and grants for the development of buildings and purchase/replacement of plant and equipment, as well as, from time to time, operating costs. Affordability and access to our facilities is very important to us and is reflected in our pricing policies set out later in this report. Our activities are planned to ensure that no one is excluded and all can enjoy what we offer at the Lido, the Hall and the Ferry.
Within our three assets we endeavour to encourage, through wide advertising, all within our community to participate in our activities to enhance their lives.
The activities employed to achieve the charity's aims and objectives, which are where prudent and practicable being extended, are to:
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keep the Lido open and heated seven days a week in the Summer and where financially sustainable and demand justifies, between April and October; and to also operate a Winter timetable of cold-water swimming; and to have the Lido café open during periods when demand justifies;
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run associated events, and liaise with local schools, clubs and groups to give access to the Lido;
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promote ourselves, as well as work with promoters, to put on a wide range of events at the Hall, and make the Hall available to local groups and individuals at a reasonable hire fee;
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make our assets available to groups with specific needs and offer disabled access and facilities where practicable;
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operate Big Dog Ferry on a regular timetable along the river Waveney for groups of people and charters;
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recruit a pool of volunteers to undertake the many varied tasks at all venues and, where this is not possible or inappropriate, appoint qualified, salaried employees where it is economically viable to do so.
We have recruited additional Trustees and re-organised the Board, including establishing a number of sub-committees to oversee each aspect of the Charity's operation, to ensure our continued success.
The Trustees will further develop our strategy and vision during 2023 and 2024.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Achievements and performance
Beccles Lido
Following two years of Covid or post-Covid operations it was hard to predict what the year ended 31 January 2023 would look like, but we based our budget and timetable on our reasonable expectations, and the following summarises the year:
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Winter swimming continued in February and March, and while borderline profitable, it was popular and considered to be a valuable community service. Swimmer feedback supported its continuation for Winter 2022/23 and at a higher entry fee (in line with other local pools).
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The heated swimming season was again extended, from April to end-October and a there was a new timetable, changing through the season to meet anticipated visitor demand.
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The booking system was retained, with walk up entry also offered when sessions were not fully booked. While not universally popular, there were more visitors in favour than against; it meant the end of long queues and assured entry on busy days and less crowded sessions on those days; it allowed us to manage staff rotas more efficiently; the impact on income was broadly neutral.
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The incredible and unseasonal long hot summer meant that July and August were very busy, and the new systems allowed us to manage the demand without any of the issues faced pre-Covid, with a total 65,000 visitors enjoying the Lido in 2022/23.
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Many of the clubs that hired the pool in 2021 returned, and the schools also returned for Summer term swimming lessons.
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The café (operated by Beccles Lido Trading Limited, BLT) returned to full operation, but with a simplified menu which allowed us to operate it without the need for an expensive, full-time café/kitchen manager. While not without some issues, this did mean that the café enjoyed its most profitable ever year.
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The Lido's partnership with TheCanoeMan (the income for which is accounted within BLT) continued to be successful, and while we did not see the unprecedented demand of 2021 (when staycationers meant a record season), bookings and revenue were still way ahead of pre-Covid.
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BLL's Trustees take the view that where possible it should provide as many jobs as it can. This not only helps the local economy but gives young people an opportunity to acquire life skills. Staffing in 2022/23 comprised a mix of full-time, seasonal full-time and casual employees. Wage costs for staff fulfilling café/kiosk or canoe hire activities were met by BLT in support of these trading activities.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Achievements and performance (continued)
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The Triathlon returned and was again a sell out and huge success, as was the Autumn Beer Festival.
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There were a number of essential purchases of plant and pool equipment, including a new giant inflatable (generously supported by a Suffolk County Council locality grant from Cllr Peggy McGregor), and lane ropes for all remaining lanes.
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The largest infrastructure expense was a complete refurbishment of reception and changing cubicles, with new roofs, insulation, windows and doors (costing in excess £45,000 from Lido reserves).
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Utility prices were rising sharply, and solar panels were installed on reception and proved a valuable mitigation measure (with an estimated return on investment of less than two years), with more planned to be installed in 2023.
While the Lido showed an overall deficit following the large investment in plant, equipment and buildings, operating surpluses before those expenses were strong, and following drawdown of £35,073 from restricted income, unrestricted reserves (and free cash) increased, designated reserves remained strong, and each are ahead of the pre-Covid position.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Achievements and performance (continued)
Beccles Public Hall & Theatre
Following the resignations of long-standing employee Jerry Garcia and Trustee/General manager John Cushing, the Hall entered a period of significant change:
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Roles and responsibilities were changed, with existing employees/volunteers/Trustees stepping in to take on the day-to-day operations of the Hall, as well as the accounting for the Hall. Some changes were successful, albeit after some adjustments, others less so, and it quickly became clear that additional paid roles would be necessary.
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An interim General Manager was recruited on a part-time, Freelance basis for six months to stabilise operations; leading to recruitment of a salaried General Manager and Marketing Manager (with the Programming & Marketing Manager relinquishing Marketing duties), all on a part-time basis. In combination this put pressure on reserves in order to cover costs, with income not yet showing sufficient increase to cover these costs.
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Nonetheless, the Trustees considered the changes to be essential to ensure a robust operation, the costs could be covered from reserves in the medium term, and they would in turn lead to the increased revenue needed to cover these costs.
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The Youth Theatre established in 2021 continued and supported another very successful in-house production (Oliver, The Musical in Autumn), supported by a Local Authority grant.
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The Hall also held a programme of intergenerational Jubilee celebrations with a grant from the Arts Council's Let's Create Jubilee Fund and Suffolk Community Foundation. The project was a collaboration with Suffolk Libraries, Beccles Town Council, Beccles Museum and The Community Hub, with the Hall taking the lead on marketing and community engagement. Activities across the whole town were well attended and included heavily reduced ticket prices and free events.
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The Hall's regular Forget Me Nots social group continues to welcome people with dementia or memory loss. It is supported by various grants, including a new grant from the Co-op Community Cares Fund and Suffolk Community Foundation, which assure its continuation for the foreseeable future.
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The Pantomime was more popular than ever, with additional performances added over previous years.
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The Hall bar enjoyed its busiest ever year and contributes valuable funds to the Hall operation.
The well attended November/December/January programme, all with good sales at the bar, meant a strong 4th quarter performance. This gave the Trustees confidence that the medium-term plan is working; and the Trustees remain confident that the Hall is better placed than ever to enable the venue to continue to offer a variety of events at the Hall, striking a fair balance between performances by local amateur groups, event hirers (commercial and private), in-house productions and Hall-curated performances by touring professionals and other artistes.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Achievements and performance (continued)
Big Dog Ferry
The Ferry returned to full service in 2022:
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The two engines are five years old (and fully depreciated), and engine #1 needed a minor re-build at a cost of approaching £1,000.
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The service was more popular than ever, helped we think by the increasing popularity of The Locks Inn pub (now under community ownership) at the Ferry's Geldeston destination.
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Thanks, once again, to valued partner Steve Moody of Windways Marine in Beccles, who continues to look after servicing and re-build of the engines, for which we are very grateful.
Following last year's strong performance, the Ferry again showed a significant surplus of £5,607 (2021/22: £4,604, excluding extraordinary Covid grants). This follows many years of breakeven since its acquisition. Surplus was again retained, with the Ferry now building reserves for future upgrades/replacement of engines, but available if needed by the Lido, for whom the Ferry was established as a fundraising operation.
Grants, donations and volunteers
We continue to be the beneficiary of most generous grants and donations, set out in note 5, for which we are extremely grateful.
None of the Charity's assets could operate without our fantastic and dedicated volunteers, or the goodwill of supporters, the general public and the local Community, to which we again extend our very grateful thanks.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Financial review
Beccles Lido
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Following two years of Covid support grants and prior to that a major fundraising campaign to fund the 2019/20 pool refurbishment/upgrade, donations and grants were modest at £5,232 and included small community grants towards some of the new equipment purchases.
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Events income and surplus was much improved, following the return of the Triathlon and a Beer Festival free from Covid-restrictions.
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The Lido's main income stream from swimming and hire was at a historic high of £335,492 (2021/22: £276,969, 2019/20: £160,655) helped by the fantastic summer as well as 52 weeks opening.
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The café contributed an all-time record high surplus of £15,509 and, in combination with canoe hire, a surplus of £37,116 (2021/22: £28,864 excluding extraordinary Covid grants) - café income was up, while canoe hire income was down (due in combination to less staycationers and more SUP ownership competing with hires).
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The Lido's main expense is wages, and this was up due to heavy demand in the summer and more staff required to service that demand: £215,156 (2021/22: £182,459).
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Utility costs were up, with both electricity and chemical costs doubling: £69,620 (2021/22: £41,994).
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Maintenance costs were also up due to the reception and changing cubicle upgrades: £58,493 (2021/22: £38,480).
In combination this meant an overall deficit of £40,937 - (2021/22: surplus £45,537); but an operating surplus (before depreciation and extraordinary expenses) of £58,570 (2021/22: £33,360); and an increase in unrestricted/designated cash reserves (excluding fixed assets) to £186,979 (2021/22: £167,564).
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Financial review (continued)
Beccles Public Hall & Theatre
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Following exceptional Covid support grants (local authority and government/Arts Council), donations and grants were significantly down, but still a very pleasing £21,492.
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Income from shows, events and fundraising was an all-time high £181,381 (2021/22: £84,088, 2019/20: £81,018).
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Hire income was £25,833 (2021/22: £18,881, £2019/20: £30,324), with some hirers slow to return post-Covid.
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Gross bar income (including from fundraising events) was £44,748 (2021/22: £21,426, 2019/20: £39,282).
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The Hall made a successful application for Theatre Tax Relief on 2021/22 in-house productions, which yielded an accrual of £4,505 (£5,300 less Agent's fee); we will be making a similar claim for 2022/23 in-house productions, which can reasonably be expected to yield a higher return.
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The Hall's main expenses are show and event costs: £131,019 (2021/22: £66,327, 2019/20: £58,578); and wages/freelance services: £107,980 (2021/22: £62,116, 2019/20: £20,307).
So, overall deficit was £29,998 - (2021/22: surplus £34,386, 2019/20 surplus £19,706); with operating deficit (before depreciation and extraordinary Covid support grants/Covid compensation insurance claim) was £27,560 - (2021/22: deficit £68,241, 2019/20 surplus £24,383); and a decrease in unrestricted/designated cash reserves (excluding fixed assets) to £117,613 (2021/22: £148,622, 2019/20: £41,538). While there was a decrease between 31 January 2022 and 31 January 2023 of £31,009, we had in fact provisioned £42,500 (for increased wages) from designated reserves. We also provisioned a further £22,500 to be used in 2023/24, again for wages.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Financial review (continued)
Big Dog Ferry
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Like the Lido, donations and grants were down to pre-Covid levels (£50).
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Following another strong season, income was up: £24,065 (2021/22: £21,336).
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Costs, including freelance skipper services and wages were up: £15,909 (2021/22: £13,940) in line with increased demand.
So, overall surplus was £5,607 (2021/22: £12,604); while operating surplus (excluding depreciation, extraordinary expenses and Covid grants) was £7,574 (2021/22: £5,736); with an increase in unrestricted/designated cash reserves (excluding fixed assets) to £25,570 (2021/22; £18,831) which has been retained by the Ferry but remains available to the Lido if required.
Summary
Overall, the Charity made a deficit, but its cash reserves and assets mean that it remains in a strong position and resilient against future shocks, not least those posed by escalating energy costs, particularly at the Lido, and by wages at the Hall. Each asset is otherwise performing strongly, and the Charity remains sustainable now and into the medium/long term.
The overall financial results of the charity as shown on page 16, were total income of £729,359 (2022: £690,183) including £26,848 (2022: £162,506) of grants and donations. Expenditure amounted to £794,687 (2022: £597,656) including repairs, maintenance and equipment cost of £62,915 (2022: £48,168). Net expenditure amounted to £65,328 (2022: net income £92,527).
The Lido has a trading company, Beccles Lido Trading Limited (BLT), which manages the café and kiosk and gifts all profits to the Lido. In 2021/22, the canoe hire income was at a level that was deemed trading and also moved into BLT. Now recognising that the café/kiosk trading activities and canoe hire trading activities are quite different, a new trading company has been set up effective 2023/24 (Big Dog Services Limited) in which canoe hire income will be managed.
Following a strong performance throughout the year, the Hall bar plus merchandise sales are now at a level that a Hall trading company is considered appropriate, and a new trading company (Beccles Public Hall Trading Limited) has been set up effective 2023/24 to manage the Hall bar.
Pricing Policy
Pricing for all assets is regularly reviewed against costs and against peer facilities and set at a level that is considered to be affordable and fair value, while at the same time allowing each asset to operate as sustainably as possible, which is increasingly challenging given energy and consumables inflation.
Loyalty schemes (e.g. the Lido's membership scheme), negotiable hire rates and, from time to time, free or heavily subsidised entry to events, in combination aim to allow the widest possible use of each asset by the Community.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Financial review (continued)
Reserves Policy
At 31 January 2023 the Charity has unspent restricted reserves (Lido: £3,560, Hall: £5,201, Ferry: £0) which it will spend as soon as the relevant expenses are incurred.
Each asset then has a designated reserve retained as a provision against anticipated future expenses.
The remaining free cash reserves are available to cover expenses exceeding income. The Trustees anticipate various repairs, upgrades and improvements, for which some grant funding has already been secured and further funds will be applied for, but against which BLL has to continue to demonstrate that it can match these grants with funds of its own through its own prudent financial management and accumulation of reserves for this purpose. No target has been set for these reserves. They need to be as large as possible to set against the still remaining significant expenses anticipated to fully restore and maintain both the Lido and the Hall to the high quality to which the Trustees aspire; for increases in wages as BLL needs to replace long standing volunteers with paid employees; to cover increasing energy costs. These reserves also give BLL the resilience to survive unforeseen circumstances; and to be ready to take advantage of any opportunities to expand its asset base if this furthers its charitable objectives and creates greater financial security.
Unrestricted cash reserves (excluding fixed assets) at 31 January 2023 are:
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Lido: £186,978, of which is free cash £73,763 and designated reserve is £113,215.
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Hall: £117,613, of which is free cash £20,113 and designated reserve is £97,500.
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Ferry: £25,570, of which is free cash £21,405 and designated reserve is £4,165.
The designated reserve policies are:
Beccles Lido
The open-air swimming pool and its infrastructure needs continuous maintenance, upgrade and replacement to ensure that it can fulfil the objectives of the charity. At 31 January 2023, this Fund stands at £113,215 (31 January 2022: £124,979) following deductions for 2022/23 and reflation (the Lido aims to reflate by £25,000 p.a. until further notice). The primary purpose of this fund will remain to cover the reasonably anticipated maintenance and replacement of equipment at the Lido, but it is also available to cover any other exceptional costs (such as extraordinary energy price increases) if these cannot otherwise be met by grants, free cash or income.
Beccles Public Hall & Theatre
In anticipation of various investments required at the Hall, the Trustees also decided in 2020 that it is prudent for the Hall to formalise its own allocation of unrestricted funds. At 1 February 2022 its Designated Reserve Fund was £140,000 (including £42,500 to cover increased wages, with a further £22,500 budgeted for increased wages in 2023/24; each provisioned for the time anticipated for income to increase as the benefit of these additional salaried staff accrues). At 31 January 2023 it stands at £97,500 (£22,500 for wages and the balance of £75,000 for significant repairs and replacement of plant and equipment, highly desirable upgrades or improvements, but can be re-directed at the discretion of the Trustees).
Big Dog Ferry
The Ferry has a designated reserve at 31 January 2023 of £4,165 (31 January 2022: £5,000) following re-build of engine #1, and this will cover anticipated re-build costs of engine #2, it will be reflated at 31 January 2024 and thereafter to meet the reasonably anticipated future costs of engine re-builds/replacement.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Plans for future periods
Beccles Lido
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New Solar PV installations on the toilet block and store/medical room; and consider replacement of aging and inefficient Solar PV on the plant room.
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Refurbishment of the toilet block to remediate wear and tear.
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Replacement and upgrade of aging plant, together with provision of backups for essential plant; including primary heating pipework, where contamination is clogging the filter to the heat exchanger.
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Upgrade/installation of new lighting, emergency lighting and fire alarm to meet latest safety and fire regulations.
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Replacement of unreliable underwater pool lights.
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Decorating of upgraded reception, and exterior of plant room.
With all of the above budgeted to be funded from Lido reserves.
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To continue with 52 weeks opening, although this will be guided by the impact of potentially crippling energy price increases and any mitigation offered by Government support.
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The number of events and services that are offered could be expanded to exploit the fantastic venue, and also its proximity and access to the river, to create new sources of revenue to supplement swimming and hire income.
Beccles Public Hall & Theatre
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Ongoing review of staff (and volunteer) roles, responsibilities and performance, to ensure that the Hall is appropriately resourced and able to deliver a programme of events that both meets audience demand and provides the income required to do so sustainably (not least to cover the cost of those wages).
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No major upgrades are planned until Hall reserves can be confidently committed, or until grants are secured, but priority upgrades/improvements when funds allow include heating/air conditioning, sound equipment, and tech more generally.
Big Dog Ferry
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Engine #2 needs a full re-build to return it to operation at a forecast cost of c.£3,000 (which is substantially cheaper than a replacement engine and will in fact return it to a state comparable with a replacement engine), to be funded from Ferry reserves.
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To run a full timetable from April through September.
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While a bigger boat would better meet peak demand, it could detract from the overall Big Dog experience, and so while this may be reviewed if the right opportunity arises, there are no immediate plans for the boat's replacement. We continue to look into the future possibility of electric as a power source, although to date no clear or practicable (or affordable) option has been identified.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Structure, governance and management
Governing document
Beccles Lido Limited (BLL) is a charitable company limited by guarantee, incorporated on 21 January 2009 and registered as a charity on 13 October 2009. The company was established under a Memorandum of Association, which set out the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up the Trustees are required to contribute an amount not exceeding £10.
On 7 August 2011 the Memorandum of Association was modified to incorporate the wider scope of BLL's objectives to enable it to include the management of Beccles Public Hall and, should the opportunity arise, other carefully selected assets.
Appointment of trustees
The Trustees held office throughout the year except as indicated on page 2. They are elected for a period of three years after which they can be re-elected.
The Trustees are also Directors within the meaning of the Companies Act 2006.
New Trustees were recruited following an advertising campaign targeting the skills that we felt needed supplementing. Additional Trustees may be considered at the discretion of the Board, as and when the opportunity arises or suitable applications are received.
Induction and training of Trustees
All new Trustees are provided with:
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The Memorandum and Articles of Association
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The latest accounts of the charity
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Details of the Charity Commission publication - The Essential Trustee: "What you need to know"
In addition, Trustees are encouraged to read Charity Commission and other newsletters, and to attend courses designed to keep them abreast of their duties and responsibilities.
Organisational Structure
The Board of Trustees administers the Charity, and the Board meets at least quarterly, with sub-groups of Trustees running various committees to manage important aspects of the Charity, including:
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Business, Finance and Fundraising
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Property and Capital Projects
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Marketing and Community Engagement
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People and Operations
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Governance
Risk assessment
There are a significant number of operational procedures and risk assessments for Lido, Hall and Big Dog Ferry, as well as a risk register for the Charity; each are reviewed and updated annually and as circumstances arise.
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Beccles Lido Limited
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 January 2023
Structure, governance and management (continued)
Related Parties
On 29 January 2014 Beccles Lido Trading Limited (Company Number 08867883) was incorporated as a wholly owned trading company to carry out trading activities, primarily the Lido's café and kiosk sales (and in 2021/22/23 canoe hire), with all profits gifted to the Charity for the sole benefit of the Lido.
On 7 February 2023 Beccles Public Hall Trading Limited (Company Number 14645468) was incorporated as a wholly owned trading company to carry out trading activities, primarily the Hall's bar and merchandise sales, with all profits gifted to the Charity for the sole benefit of the Hall.
On 23 February 2023 Big Dog Services Limited (Company Number 14684563) was incorporated as a wholly owned trading company to carry out trading activities, primarily river-based activities and initially canoe hire, with all profits gifted to the charity for the sole benefit of the Lido.
Independent examiner
Mark Proctor, FCA DChA of Lovewell Blake LLP has been reappointed as Independent Examiner for the ensuing year.
Small company provisions
This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.
The trustees' annual report (incorporating the directors' report) was approved on 25 October 2023 and signed on behalf of the board of trustees by:
Mr L Johnson (Chair) Trustee
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Beccles Lido Limited
Company Limited by Guarantee
Independent examiner's report to the trustees of Beccles Lido Limited
Year ended 31 January 2023
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 January 2023 which comprise the statement of financial activities (including income and expenditure account), balance sheet, statement of cash flows and the related notes.
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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the financial statements 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 company's financial statements 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 Institute of Chartered Accountants in England and Wales 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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
26 October 2023
- 15 -
Beccles Lido Limited
Company Limited by Guarantee
Statement of financial activities (including income and expenditure account)
Year ended 31 January 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 7,376 | 19,472 | 26,848 | 162,506 |
| Charitable activities | 6 | 553,744 | – | 553,744 | 388,602 |
| Other trading activities | 7 | 98,143 | – | 98,143 | 54,132 |
| Investment income | 8 | 37,466 | – | 37,466 | 41,305 |
| Other income | 9 | 13,158 | – | 13,158 | 43,638 |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| Total income | 709,887 | 19,472 | 729,359 | 690,183 | |
| =============================== | ========================== | =============================== | =============================== | ||
| Expenditure | |||||
| Raising funds | |||||
| Costs of other trading activities | 10 | (50,613) | – | (50,613) | (26,943) |
| Charitable activities | 11 | (726,579) | (17,495) | (744,074) | (570,713) |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| Total expenditure | (777,192) | (17,495) | (794,687) | (597,656) | |
| =============================== | ========================== | =============================== | =============================== | ||
| Net (expenditure)/income before transfer of | |||||
| funds | (67,305) | 1,977 | (65,328) | 92,527 | |
| Transfers between funds | 39,040 | (39,040) | – | – | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| Net movement in funds | (28,265) | (37,063) | (65,328) | 92,527 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 445,904 | 45,824 | 491,728 | 399,201 | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| Total funds carried forward | 417,639 | 8,761 | 426,400 | 491,728 | |
| =============================== | ========================== | =============================== | =============================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 20 to 34 form part of these financial statements.
- 16 -
Beccles Lido Limited
Company Limited by Guarantee
Balance sheet
31 January 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 16 | 87,377 | 110,786 | ||
| Investments | 17 | 101 | 101 | ||
| -------------------------- | ------------------------------- | ||||
| 87,478 | 110,887 | ||||
| Current assets | |||||
| Stocks | 18 | 4,041 | 2,965 | ||
| Debtors | 19 | 69,670 | 25,011 | ||
| Cash at bank and in hand | 308,734 | 382,579 | |||
| ------------------------------- | ------------------------------- | ||||
| 382,445 | 410,555 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 20 | (43,523) | (29,714) | ||
| ------------------------------- | ------------------------------- | ||||
| Net current assets | 338,922 | 380,841 | |||
| ------------------------------- | ------------------------------- | ||||
| Total assets less current liabilities | 426,400 | 491,728 | |||
| =============================== | =============================== | ||||
| Funds of the charity | |||||
| Restricted funds | 8,761 | 45,824 | |||
| Unrestricted funds | 417,639 | 445,904 | |||
| ------------------------------- | ------------------------------- | ||||
| Total charity funds | 22 | 426,400 =============================== |
491,728 =============================== |
For the year ending 31 January 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The balance sheet continues on the following page.
The notes on pages 20 to 34 form part of these financial statements.
- 17 -
Beccles Lido Limited
Company Limited by Guarantee
Balance sheet (continued)
31 January 2023
These financial statements were approved by the board of trustees and authorised for issue on 25 October 2023, and are signed on behalf of the board by:
Mr L Johnson (Chair) Trustee
Company registration number: 06805012
The notes on pages 20 to 34 form part of these financial statements.
- 18 -
Beccles Lido Limited
Company Limited by Guarantee
Statement of cash flows
Year ended 31 January 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (65,328) | 92,527 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 53,673 | 50,933 |
| Investment income | (37,116) | (41,007) |
| Other interest receivable and similar income | (350) | (298) |
| Changes in: | ||
| Stocks | (1,076) | (450) |
| Trade and other debtors | (44,659) | 7,661 |
| Trade and other creditors | 13,809 | 10,492 |
| -------------------------- | ------------------------------- | |
| Cash generated from operations | (81,047) | 119,858 |
| Interest received | 350 | 298 |
| -------------------------- | ------------------------------- | |
| Net cash (used in)/from operating activities | (80,697) | 120,156 |
| ========================== | =============================== | |
| Cash flows from investing activities | ||
| Investment income | 37,116 | 41,007 |
| Purchase of tangible assets | (30,264) | (57,073) |
| Purchases of other investments | – | (100) |
| -------------------------- | ------------------------------- | |
| Net cash from/(used in) investing activities | 6,852 | (16,166) |
| ========================== | =============================== | |
| Net (decrease)/increase in cash and cash equivalents | (73,845) | 103,990 |
| Cash and cash equivalents at beginning of year | 382,579 | 278,589 |
| ------------------------------- | ------------------------------- | |
| Cash and cash equivalents at end of year | 308,734 | 382,579 |
| =============================== | =============================== |
The notes on pages 20 to 34 form part of these financial statements.
- 19 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements
Year ended 31 January 2023
1. General information
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales.
The address of the registered office is 6 Cromwell Close, Beccles, NR34 9XE, Suffolk.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.
(b) Going concern
The financial statements have been prepared on a going concern basis, as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
On 7 February 2023 Beccles Public Hall Trading Limited (Company Number 14645468) was incorporated as a wholly owned trading company to carry out trading activities, primarily the Hall's bar and merchandise sales, with all profits gifted to the Charity for the sole benefit of the Hall.
On 23 February 2023 Big Dog Services Limited (Company Number 14684563) was incorporated as a wholly owned trading company to carry out trading activities, primarily river-based activities and initially canoe hire, with all profits gifted to the charity for the sole benefit of the Lido.
(c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
- 20 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
3. Accounting policies (continued)
(d) Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
• Donations, grants and legacies are included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
• Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
• Investment income is included when receivable.
• Income from charitable trading activities is accounted for when earned.
• Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(e) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
• Costs of raising funds comprise the costs associated with attracting voluntary income.
• Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
• All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
- 21 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
3. Accounting policies (continued)
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- Hall building - 20% straight line Lido building - 20% straight line Lido pool equipment - 20% straight line Other assets - 20% straight line Lido kitchen equipment - 20% straight line Public Hall equipment - 20% straight line
(h) Investments
Unlisted investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
(i) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
(k) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost
- 22 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
4. Limited by guarantee
The organisation is a charitable company limited by guarantee and in the event of the company being wound up members are required to contribute an amount not exceeding £10.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations and grants - restricted | – | 19,472 | 19,472 |
| Donations and grants - unrestricted | 7,302 | – | 7,302 |
| Membership fees | 74 | – | 74 |
| ---------------------- | -------------------------- | -------------------------- | |
| 7,376 | 19,472 | 26,848 | |
| ====================== | ========================== | ========================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations and grants - restricted | – | 120,287 | 120,287 |
| Donations and grants - unrestricted | 42,145 | – | 42,145 |
| Membership fees | 74 | – | 74 |
| -------------------------- | ------------------------------- | ------------------------------- | |
| 42,219 | 120,287 | 162,506 | |
| ========================== | =============================== | =============================== |
The charity received a number grants, including from local councils. Details of the grants received are set out in note 22.
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Swimming income | 335,492 | 335,492 | 276,969 | 276,969 |
| Big Dog Ferry income | 24,065 | 24,065 | 21,336 | 21,336 |
| Hall hire | 25,833 | 25,833 | 14,105 | 14,105 |
| Show income | 168,354 | 168,354 | 76,192 | 76,192 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 553,744 | 553,744 | 388,602 | 388,602 | |
| =============================== | =============================== | =============================== | =============================== |
7. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Fundraising events and income | 42,363 | 42,363 | 21,170 | 21,170 |
| Bar income | 44,778 | 44,778 | 21,426 | 21,426 |
| Lottery income | 11,002 | 11,002 | 11,536 | 11,536 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| 98,143 | 98,143 | 54,132 | 54,132 | |
| ========================== | ========================== | ========================== | ========================== |
- 23 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
8. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Income from group undertakings | 37,116 | 37,116 | 41,007 | 41,007 |
| Bank interest receivable | 350 | 350 | 298 | 298 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| 37,466 | 37,466 | 41,305 | 41,305 | |
| ========================== | ========================== | ========================== | ========================== | |
| Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Other income | 7,114 | 7,114 | 540 | 540 |
| Coronavirus Job Retention Scheme | – | – | 15,124 | 15,124 |
| Theatre tax relief | 4,505 | 4,505 | – | – |
| Insurance claims | 1,539 | 1,539 | 27,974 | 27,974 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| 13,158 | 13,158 | 43,638 | 43,638 | |
| ========================== | ========================== | ========================== | ========================== | |
| Costs of other trading activities | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Event and fundraising costs | 25,345 | – | 25,345 | |
| Lottery expenses | 5,709 | – | 5,709 | |
| Bar costs | 19,559 | – | 19,559 | |
| -------------------------- | ------------- | -------------------------- | ||
| 50,613 | – | 50,613 | ||
| ========================== | ============= | ========================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Event and fundraising costs | 12,464 | – | 12,464 | |
| Lottery expenses | 5,853 | – | 5,853 | |
| Bar costs | 8,348 | 278 | 8,626 | |
| -------------------------- | ------------- | -------------------------- | ||
| 26,665 | 278 | 26,943 | ||
| ========================== | ============= | ========================== |
9. Other income
10. Costs of other trading activities
- 24 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
11. Expenditure on charitable activities
| Total Funds | ||||
|---|---|---|---|---|
| Lido | **Public Hall ** | Big Dog Ferry | 2023 | |
| £ | £ | £ | £ | |
| Staff wages | 215,156 | 95,980 | 7,422 | 318,558 |
| Show costs | – | 123,834 | – | 123,834 |
| Services | 2,421 | – | 5,316 | 7,737 |
| Repairs and maintenance | 58,493 | 4,422 | – | 62,915 |
| Light, heat and water | 69,620 | 6,998 | – | 76,618 |
| Printing, postage and telephone | 2,308 | 2,130 | 111 | 4,549 |
| Cleaning and waste disposal | 5,322 | 3,200 | – | 8,522 |
| Insurance | 11,414 | 2,018 | 853 | 14,285 |
| Advertising and publicity | 5,943 | 14,404 | 75 | 20,422 |
| Bank charges | 1,884 | 1,333 | – | 3,217 |
| Depreciation | 48,564 | 3,977 | 1,132 | 53,673 |
| Equipment | 8,556 | 7,103 | – | 15,659 |
| Miscellaneous (inc training, uniforms) | 1,382 | 3,000 | 428 | 4,810 |
| Big Dog Ferry costs | – | – | 3,171 | 3,171 |
| Governance costs | 7,550 | 18,554 | – | 26,104 |
| ------------------------------- | ------------------------------- | -------------------------- | ------------------------------- | |
| 438,613 | 286,953 | 18,508 | 744,074 | |
| =============================== | =============================== | ========================== | =============================== | |
| Total Funds | ||||
| Lido | Public Hall | Big Dog Ferry | 2022 | |
| £ | £ | £ | £ | |
| Staff wages | 182,459 | 62,116 | 8,373 | 252,948 |
| Show costs | – | 61,937 | – | 61,937 |
| Repairs and maintenance | 38,480 | 9,688 | – | 48,168 |
| Light, heat and water | 41,994 | 3,950 | – | 45,944 |
| Printing, postage and telephone | 1,941 | 3,258 | 72 | 5,271 |
| Cleaning and waste disposal | 2,907 | 1,106 | – | 4,013 |
| Insurance | 8,308 | 1,695 | 812 | 10,815 |
| Advertising and publicity | 3,130 | 21,331 | 383 | 24,844 |
| Bank charges | 1,276 | 100 | – | 1,376 |
| Depreciation | 46,444 | 3,357 | 1,132 | 50,933 |
| Equipment | 8,454 | 6,647 | – | 15,101 |
| Miscellaneous (inc training, uniforms) | 8,215 | 459 | 4,186 | 12,860 |
| Big Dog Ferry costs | – | – | 1,773 | 1,773 |
| Governance costs | 11,162 | 23,568 | – | 34,730 |
| ------------------------------- | ------------------------------- | -------------------------- | ------------------------------- | |
| 354,770 | 199,212 | 16,731 | 570,713 | |
| =============================== | =============================== | ========================== | =============================== | |
| Governance costs | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Independent examination fee | 3,734 | 5,191 | ||
| Other accountancy services | 1,462 | 1,320 | ||
| Professional fees | 20,908 | 28,219 | ||
| -------------------------- | -------------------------- | |||
| 26,104 | 34,730 | |||
| ========================== | ========================== |
During the year ended 31 January 2023 £17,495 (2022: £136,472) of charitable activities was restricted and £726,579 (2022: £434,241) was unrestricted.
- 25 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
12. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets | 53,673 ========================== |
50,933 ========================== |
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 302,401 | 242,022 |
| Social security costs | 12,425 | 8,553 |
| Employer contributions to pension plans | 3,732 | 2,373 |
| ------------------------------- | ------------------------------- | |
| 318,558 | 252,948 | |
| =============================== | =============================== |
The average head count of employees during the year was 37 (2022: 38).
This includes both full time and part time staff. Of the 37 staff employed by Beccles Lido Limited (BLL) 5 staff were employed to support the trading activities of Beccles Lido Trading Limited (BLT). BLT is a wholly owned subsidiary of BLL and recompensed BLL £20,099 (2022: £15,059) for staff costs which directly related to trading activities carried out by BLT on Beccles Lido's behalf.
The Trustees consider the key management personnel to be the Managing Director, Lido General Manager and Hall General Manager. The total compensation paid to key management personnel for services provided to the charity was £63,712 (2022: three individual but with different roles £107,083).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
14. Trustee remuneration and expenses
Two trustees received the reimbursement of expenses totalling £106 in 2023 (2022: £Nil). No remuneration from employment with the charity was received by the trustees in the current or previous year.
15. Transfers between funds
Fund transfers represent the purchase of capital items from restricted income where no ongoing restriction exists, to cover the costs of any significant repairs of unavoidable expenditure, and to increase the value of the designated repairs funds.
- 26 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
16. Tangible fixed assets
| Hall | Lido | Lido | Other | Public Hall | ||
|---|---|---|---|---|---|---|
| Building | Building | Equipment | assets | Equipment | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At | ||||||
| 1 February 2022 | 11,908 | 83,403 | 195,400 | 13,725 | 53,555 | 357,991 |
| Additions | – | 9,747 | 13,538 | – | 6,979 | 30,264 |
| -------------------------- | -------------------------- | ------------------------------- | -------------------------- | -------------------------- | ------------------------------- | |
| At | ||||||
| 31 January 2023 | 11,908 | 93,150 | 208,938 | 13,725 | 60,534 | 388,255 |
| ========================== | ========================== | =============================== | ========================== | ========================== | =============================== | |
| Depreciation | ||||||
| At | ||||||
| 1 February 2022 | 11,908 | 66,724 | 109,286 | 11,418 | 47,869 | 247,205 |
| Charge for the | ||||||
| year | – | 18,630 | 29,934 | 1,132 | 3,977 | 53,673 |
| -------------------------- | -------------------------- | ------------------------------- | -------------------------- | -------------------------- | ------------------------------- | |
| At | ||||||
| 31 January 2023 | 11,908 | 85,354 | 139,220 | 12,550 | 51,846 | 300,878 |
| ========================== | ========================== | =============================== | ========================== | ========================== | =============================== | |
| Carrying amount | ||||||
| At | ||||||
| 31 January 2023 | – | 7,796 | 69,718 | 1,175 | 8,688 | 87,377 |
| ========================== | ========================== | =============================== | ========================== | ========================== | =============================== | |
| At | ||||||
| 31 January 2022 | – | 16,679 | 86,114 | 2,307 | 5,686 | 110,786 |
| ========================== | ========================== | =============================== | ========================== | ========================== | =============================== |
17. Investments
| Shares in | |||
|---|---|---|---|
| group | Other | ||
| undertakings | investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 February 2022 | 1 | 100 | 101 |
| Additions | – | – | – |
| ------------- | ------------- | ------------- | |
| At 31 January 2023 | 1 | 100 | 101 |
| ============= | ============= | ============= | |
| Impairment | |||
| At 1 February 2022 and 31 January 2023 | – | – | – |
| ============= | ============= | ============= | |
| Carrying amount | |||
| At 31 January 2023 | 1 | 100 | 101 |
| ============= | ============= | ============= | |
| At 31 January 2022 | 1 ============= |
100 ============= |
101 ============= |
All investments shown above are held at valuation.
- 27 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
17. Investments (continued)
Investments represents 100% share capital of Beccles Lido Trading Limited, incorporated in England. The results for the company for the year are:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Turnover | 101,402 | 58,539 | |
| Profit for the year | 37,116 | 47,001 | |
| Gifted to the charity | (37,116) | (47,001) | |
| Net assets | 1 | 1 | |
| =============================== | ========================== | ||
| Stocks | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Stock held for resale | 4,041 | 2,965 | |
| ====================== | ====================== | ||
| Debtors | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors | 6,556 | 2,226 | |
| Amounts owed by group undertakings | 57,215 | – | |
| Prepayments and accrued income | 1,394 | 22,785 | |
| Other debtors | 4,505 | – | |
| -------------------------- | -------------------------- | ||
| 69,670 | 25,011 | ||
| ========================== | ========================== | ||
| Creditors: Amounts falling due within one year | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 8,921 | 2,534 | |
| Social security and other taxes | 3,231 | 5,174 | |
| Accruals and deferred income | 30,620 | 18,251 | |
| Other creditors | 751 | 3,755 | |
| -------------------------- | -------------------------- | ||
| 43,523 | 29,714 | ||
| ========================== | ========================== | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Deferred income brought forward | 10,017 | 3,427 | |
| Released during the year | (10,017) | (3,427) | |
| Deferred during the year | 14,461 | 10,017 | |
| -------------------------- | -------------------------- | ||
| Deferred income carried forward | 14,461 | 10,017 | |
| ========================== | ========================== |
18. Stocks
19. Debtors
20. Creditors: Amounts falling due within one year
Deferred income comprise funds received in advance of 2023 events.
- 28 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,732 (2022: £2,373).
22. Analysis of charitable funds
Unrestricted funds at 31 January 2023
| At 31 Jan | |||||
|---|---|---|---|---|---|
| At | 1 Feb 2022 | Income | Expenditure | Transfers | 2023 |
| £ | £ | £ | £ | £ | |
| Lido Designated reserves fund | 124,979 | – | – | (11,764) | 113,215 |
| Hall Designated reserves fund | 140,000 | – | – | (42,500) | 97,500 |
| Big Dog Ferry reserves fund | 5,000 | – | – | (835) | 4,165 |
| General funds | 175,925 | 709,887 | (777,192) | 94,139 | 202,759 |
| ------------------------------- | ------------------------------- | ------------------------------- | -------------------------- | ------------------------------- | |
| 445,904 | 709,887 | (777,192) | 39,040 | 417,639 | |
| =============================== | =============================== | =============================== | ========================== | =============================== | |
| Unrestricted funds at 31 January 2022 | |||||
| At 31 Jan | |||||
| At | 1 Feb 2021 | Income | Expenditure | Transfers | 2022 |
| £ | £ | £ | £ | £ | |
| Lido Designated reserves fund | 63,527 | – | – | 61,452 | 124,979 |
| Lido Reserves fund | 10,000 | – | – | (10,000) | – |
| Lido Emergency repairs fund | 10,000 | – | – | (10,000) | – |
| Hall Designated reserves fund | 60,000 | – | – | 80,000 | 140,000 |
| Big Dog Ferry reserves fund | 5,000 | – | – | – | 5,000 |
| General funds | 175,193 | 569,896 | (460,906) | (108,258) | 175,925 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 323,720 =============================== |
569,896 =============================== |
(460,906) =============================== |
13,194 =============================== |
445,904 =============================== |
Lido Designated reserves fund - represents the allocation of reserves to cover the planned cost of repairs and equipment replacement together with exceptional costs (such as extraordinary energy price increases) if these cannot otherwise be met by grants or free reserves.
Lido Reserves fund - represents the allocation of reserves to cover the financial effects of a reduction in visitor income due to circumstances beyond the charity's control. This fund was transferred to the Lido Designated reserves fund in the year ended 31 January 2022.
Lido Emergency repairs fund - represents the allocation of reserves to cover the cost of any unexpected maintenance required at the Lido. This fund was transferred to the Lido Designated reserves fund in the year ended 31 January 2022.
Hall Designated reserves fund - represents the allocation of reserves to cover the cost of any significant repairs and replacement of plant and equipment, or any other large and unavoidable or otherwise deemed appropriate expense including wages incurred replacing long standing senior volunteers while additional income is generated to cover these increased operating costs.
- 29 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
Big Dog Ferry reserves fund - represents the allocation of reserves to cover the cost of significant repairs and replacement of plant and equipment, or any other large and unavoidable or otherwise deemed appropriate expenses.
Restricted funds at 31 January 2023
| At 1 Feb | At 31 Jan | ||||
|---|---|---|---|---|---|
| 2022 | Income | Expenditure | Transfers | 2023 | |
| £ | £ | £ | £ | £ | |
| Lido: | |||||
| Suffolk Community - Harris | |||||
| Family Trust | 1,028 | – | – | (1,028) | – |
| SCC Locality Budget (Cllr | |||||
| Brambley-Crawshaw) | 2,000 | – | – | (2,000) | – |
| SCC Locality Budget (Cllr | |||||
| Ritchie) | 500 | – | – | (500) | – |
| Garfield Weston | 6,060 | – | (2,500) | – | 3,560 |
| SCC Locality Budget (Cllr | |||||
| McGregor) | – | 1,732 | – | (1,732) | – |
| Sport England | 29,045 | – | – | (29,045) | – |
| Hall: | |||||
| Suffolk Community Foundation | |||||
| (3) | 4,101 | – | (1,370) | (1,250) | 1,481 |
| Suffolk Community Foundation | |||||
| (5) | 1,490 | – | (1,055) | (435) | – |
| Suffolk Community Foundation | |||||
| (7) | – | 8,980 | (8,980) | – | – |
| Suffolk Community Foundation | |||||
| (8) | – | 3,720 | – | – | 3,720 |
| ESC - Restart Grant | 400 | – | (190) | (210) | – |
| ESC - Youth Takeover Day | 1,200 | – | (1,120) | (80) | – |
| ESC – Holiday Activities Fund | – | 2,760 | – | (2,760) | – |
| ESC - YTG trip | – | 2,280 | (2,280) | – | – |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ---------------------- | |
| 45,824 ========================== |
19,472 ========================== |
(17,495) ========================== |
(39,040) ========================== |
8,761 ====================== |
- 30 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
| Restricted funds at 31 January | 2022 | ||||
|---|---|---|---|---|---|
| At 1 Feb | At 31 Jan | ||||
| 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| Lido: | |||||
| Essex Community Foundation | 800 | – | – | (800) | – |
| Suffolk Community - Harris | |||||
| Family Trust | 1,800 | – | – | (772) | 1,028 |
| Beccles Town Council | 500 | – | – | (500) | – |
| SCC Locality Budget (Cllr | |||||
| Brambley-Crawshaw) | 2,000 | – | – | – | 2,000 |
| SCC Locality Budget (Cllr | |||||
| Ritchie) | 500 | – | – | – | 500 |
| Garfield Weston | 20,700 | – | (11,640) | (3,000) | 6,060 |
| SCC Locality Budget (Cllr | |||||
| Elfrede) | – | 2,000 | – | (2,000) | – |
| SCC Locality Budget (Cllr Bee) | – | 2,000 | – | (2,000) | – |
| Sport England | – | 30,245 | (1,200) | – | 29,045 |
| Community Lottery | – | 94 | – | (94) | – |
| Hall: | |||||
| Peter Aldous MP | 155 | – | (155) | – | – |
| C & A Thomas Memorial Trust | |||||
| (5) | 2,942 | – | (2,942) | – | – |
| Beccles Community donations | |||||
| and fundraising (4) | 720 | – | (720) | – | – |
| Suffolk Community Foundation | |||||
| (3) | 4,101 | – | – | – | 4,101 |
| Suffolk Community Foundation | |||||
| (5) | – | 2,838 | (286) | (1,062) | 1,490 |
| ESC - Restart Grant | – | 400 | – | – | 400 |
| Tesco Bags of Help | – | 1,000 | (233) | (767) | – |
| Suffolk Community Foundation | |||||
| (6) | – | 2,500 | (2,500) | – | – |
| ESC - Youth Takeover Day | – | 1,200 | – | – | 1,200 |
| Arts Council England | 41,263 | 78,010 | (117,074) | (2,199) | – |
| -------------------------- | ------------------------------- | ------------------------------- | -------------------------- | -------------------------- | |
| 75,481 | 120,287 | (136,750) | (13,194) | 45,824 | |
| ========================== | =============================== | =============================== | ========================== | ========================== |
- 31 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
Beccles Lido
Essex Community Foundation, Suffolk Community - Harris Family Trust, Beccles Town Council, SCC Locality Budget (Cllr Brambley-Crawshaw), SCC Locality Budget (Cllr Ritchie)- Grants for lane ropes
Aiden's Gift Charitable Fund - Donation for springboard
Garfield Weston - Grant for reflating reserves, various expenses and upgrades
SCC Locality Budget (Cllr Bee), SCC Locality Budget (Cllr Elfrede) - Grants towards springboards
Community Lottery, SCC Locality Budget (Cllr Bee), SCC Locality Budget (Cllr Elfrede) - Grants towards boilers
SCC Locality Budget (Cllr McGregor) - Grant towards a giant inflatable
Sport England - Grant to support the Charity post Covid-19
Beccles Public Hall & Theatre
Peter Aldous MP - Grant for dementia sessions
C & A Thomas Memorial Trust (5) - Grants for staff wages
Beccles Community donations and fundraising (4) - Grants towards dementia sessions
Suffolk Community Foundation (3) - Grant for dementia session
Arts Council England - Culture recovery fund grant
Suffolk Community Foundation (5) – JA & Suffolk Giving Fund grant towards dementia sessions
Suffolk Community Foundation (6) - Grant towards Matilda the Musical Jnr
ESC Restart Grant - Grants towards dementia sessions
ESC Youth Takeover Day - Grants towards the youth theatre
Tesco Bags of Help - Grant towards sound equipment
ESC – Holiday Activities Fund - Grant towards Panto tickets
ESC - YTG trip - Grant towards YTG trip, but repurposed (with ESC permission) for Oliver! The Musical
Suffolk Community Foundation (7) & Arts Council – Let’s Celebrate Jubilee Fund – Grant towards Jubilee celebrations
Suffolk Community Foundation (8) – Coop Community Cares Fund grant towards dementia session.
- 32 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
23. Analysis of net assets between funds
As at 31 January 2023
| As at 31 January 2023 | ||||
|---|---|---|---|---|
| Net current | ||||
| Fixed assets | Investments | assets | Total 2023 | |
| £ | £ | £ | £ | |
| Restricted Income Funds | ||||
| Lido: | ||||
| Garfield Weston | – | – | 3,560 | 3,560 |
| Hall: | ||||
| Suffolk Community Foundation (3) | – | – | 1,481 | 1,481 |
| Suffolk Community Foundation (8) | – | – | 3,720 | 3,720 |
| ------------- | ------------- | ---------------------- | ---------------------- | |
| – | – | 8,761 | 8,761 | |
| ------------- | ------------- | ---------------------- | ---------------------- | |
| Unrestricted Funds | ||||
| Designated Funds | – | – | 214,880 | 214,880 |
| General Funds | 87,377 | 101 | 115,281 | 202,759 |
| -------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| 87,377 | 101 | 330,161 | 417,639 | |
| -------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| -------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| Total Funds | 87,377 | 101 | 338,922 | 426,400 |
| ========================== | ============= | =============================== | =============================== |
- 33 -
Beccles Lido Limited
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 January 2023
| As at 31 January 2022 | ||||
|---|---|---|---|---|
| Net current | ||||
| Fixed assets | Investments | assets | Total 2022 | |
| £ | £ | £ | £ | |
| Restricted Income Funds | ||||
| Lido: | ||||
| Suffolk Community - Harris Family | ||||
| Trust | – | – | 1,028 | 1,028 |
| SCC Locality Budget (Cllr | ||||
| Brambley-Crawshaw) | – | – | 2,000 | 2,000 |
| SCC Locality Budget (Cllr Ritchie) | – | – | 500 | 500 |
| Garfield Weston | – | – | 6,060 | 6,060 |
| Sport England | – | – | 29,045 | 29,045 |
| Hall: | ||||
| Suffolk Community Foundation (3) | – | – | 4,101 | 4,101 |
| Suffolk Community Foundation (5) | – | – | 1,490 | 1,490 |
| ESC - Restart Grant | – | – | 400 | 400 |
| ESC - Youth Takeover Day | – | – | 1,200 | 1,200 |
| ------------- | ------------- | -------------------------- | -------------------------- | |
| – | – | 45,824 | 45,824 | |
| ------------- | ------------- | -------------------------- | -------------------------- | |
| Unrestricted Funds | ||||
| Designated Funds | – | – | 269,979 | 269,979 |
| General Funds | 110,786 | 101 | 65,038 | 175,925 |
| ------------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| 110,786 | 101 | 335,017 | 445,904 | |
| ------------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| ------------------------------- | ------------- | ------------------------------- | ------------------------------- | |
| Total Funds | 110,786 | 101 | 380,841 | 491,728 |
| =============================== | ============= | =============================== | =============================== |
24. Related party transactions
There were no related party transactions in the current year or prior year.
25. Analysis of changes in net debt
| At | At | |||
|---|---|---|---|---|
| 1 | February 2022 | Cash flows | 31 January 2023 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 382,579 | (73,845) | 308,734 | |
| =============================== | ========================== | =============================== |
- 34 -