PALS PRO-ACTIVE LIFESTYLE WATER ACTIVITIES CLUB
Registered Charity Number: 1142283 palswac.org.uk
Trustees’ Annual Report 2023/24
There has been a key change in the way the accounts were prepared for this financial year. PALS moved to using bookkeeping software to aid with the record keeping and with the reporting but the software – called Club Treasurer – works on a Cash Accounting basis. In previous years the accounting has been done on a Standard Accounting basis which takes account of accruals and prepayments. Cash Accounting is an acceptable way of preparing the accounts and the PALS committee approved the change at the meeting held on 22 August 2024.
PALS had a good year of activity and made a surplus of £3,834.64 – marginally higher than the previous year. As can be seen, some areas of income are higher than the previous year, though others are lower.
The main “trading” activity for PALS is the pool sessions and income relating to these is higher – both income from attendance and from those using the bus to get to St Audries. There were 173 pool sessions in the year with an average of 15 and a bit people paying to attend each session!
The membership subscriptions look low compared with the previous year but that is because the committee changed the membership year to align with the financial year. It used to be that the bulk of the membership income was received in February/March so at the end of the financial year. From April 2024 it will be received in April/May so at the beginning of the financial year. So, there was a lot of membership income before the date of these accounts, and a lot afterwards, but not so much in this year! There are currently 99 paid up members.
Fundraising Events and Activities includes various things like Bingo sessions, table top sales and sales of various items including knitted gnomes, Christmas cards, Easter chicks and books. But the main income was from the Open Gardens event held in May 2023. Thanks go to our hosts for organising a wonderful and successful event.
The grant of £500 was received from the Harbour Community Bookshop in Watchet in November 2023. The committee has been discussing how this should be used to benefit PALS and some items were identified at the August meeting.
Expenses were fairly consistent with the previous year. The majority of expenses were in enabling the pool sessions to take place – so, hire of the pool, volunteer expenses, and insuring, maintaining and running the bus. The equipment costs were largely spent in maintaining the hoist and leasing the defibrillator. Premises hire is the room at Kildare Lodge used for committee meetings and the annual charge for renting the garage used to store items.
As part of reporting to the Committee they now receive a report of Fund Balances. These funds are pots of money that the Committee has designated for a particular purpose. They are not restricted to those purposes and the Committee has the option to re-designate if the need arises, but they are useful in supporting financial decision-making. These are reflected in the Statement of Assets presented at the AGM. This is a useful account of what PALS is worth (cash and tangible assets) which is just over £39,000.
PALS has not yet returned to pre-Covid levels of socialising and non-pool activities but the signs are there that members would like to resume the coach trips, picnics and lunches so hopefully there will be more activities organised. Events that did take place were a lunch after the AGM in 2023 and a trip to Taunton Museum to see an exhibition by former member Alex Hollweg.
The quarterly newsletter has been revived and has proved very successful in communicating with members at all sessions.
PALS committee
PRO-ACTIVE LIFESTYLE WATER ACTIVITIES CLUB Charity Number 1142283
| Accounts | |||
|---|---|---|---|
| for year ended 31stMarch 2024 | |||
| Notes | 2023/24 | 2022/23 | |
| Income | £ | £ | |
| Membership subscriptions | 1. | 1,140.00 | 2,754.00 |
| Fundraising Events/Activities | 2,074.60 | 1,040.78 | |
| Donations | 772.20 | 2,531.60 | |
| Swimming sessions | 19,262.00 | 16,703.00 | |
| Bus income (members) | 3,660.00 | 2,940.00 | |
| Hire of bus (to third parties) | 1,210.50 | 748.46 | |
| Raffle income | 1,078.20 | 894.85 | |
| Day Memberships | 273.00 | 240.00 | |
| Somerset Lottery | 196.50 | 277.00 | |
| Sundry income | 0.00 | 360.00 | |
| Grants received | 2. | 500.00 | 0.00 |
| TOTAL INCOME | 30,167.00 | 28,489.69 | |
| Expenditure | £ | £ | |
| Instructors’ expenses | 5,297.00 | 4,773.80 | |
| Poolside Assistants’ expenses | 2,460.50 | 2,682.00 | |
| Drivers’ expenses | 1,995.00 | 1,665.00 | |
| Bus (running costs and repairs) | 5,973.19 | 5,656.36 | |
| Pool hire | 7,785.00 | 6,625.00 | |
| Fundraising Event costs | 194.78 | 484.68 | |
| Training | 180.00 | 150.00 | |
| Hire of Premises | 765.80 | 715.36 | |
| Equipment | 3. | 568.05 | 1,325.40 |
| Public Liability Insurance | 354.00 | 350.00 | |
| Stationery and postage | 201.03 | 141.13 | |
| Subscriptions | 4. | 105.07 | 0.00 |
| AGM costs | 386.04 | 0.00 | |
| Sundry expenses | 66.90 | 159.00 | |
| TOTAL EXPENDITURE | 26,332.36 | 24,727.73 | |
| Excess income over expenditure | 3,834.64 | 3,761.96 |
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The subscription year was out of sequence with the financial year. It has now been changed to run AprilMarch and this will be reflected in the accounts from 1 April 2024
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From the Harbour Community Bookshop, Watchet
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Includes lease of defibrillator from South Western Ambulance Service
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Bookkeeping software and domain name
| Movement in Funds | £ | £ |
|---|---|---|
| Bank balance at 31st March 2023 | 29,846.08 | |
| Add income received during the year | 30,167.00 | |
| Add income received for Spring Lunch | 855.00 | |
| Less accrued income (sessions paid in advance) | 259.00 | |
| Less expenditure made during the year | 26,332.36 | |
| Add accrued expenses (garage rent) | 535.80 | |
| Less expenditure accounted for prior year | 2,022.51 | |
| Bank balance at 31st March 2024 | 32,790.01 |
Notes
1. Accounting Policies
The financial statement has been prepared on a Cash Accounting basis (receipts and payments). This is a change from previous accounting years which were prepared on a Standard Accounting basis (accruals and prepayments). This change was approved by PALS Management Committee at its meeting on 22 August 2024. An explanation of the adjustments made in changing the accounting basis is available.
2. Basis of Accounting
All income and expenditure is accounted for on cash basis and has been accounted for at the time of receipt or expense.
3. Fixed Assets
All assets purchased are charged directly to the Accounts. There is therefore no need to provide for depreciation. The assets owned by PALS as at 31st March 2024 consist of a minibus and pool equipment. The minibus was purchased outright in January 2020 for £16,995.00.
4. Grants Received
Somerset Community Foundation provided a grant of £1,500 in June 2019. Somerset Community Foundation provided a grant of £1,560 in November 2020. Harbour Community Bookshop in Watchet provided a grant of £500 in November 2023. These grants are carried forward.
5. Grants spent
£180.00 was spent on First Aid and Reach and Rescue training for volunteers and members.
- A Statement of Assets and Liabilities has been prepared which shows the position as at 31[st] March 2024.