The Charity Registration Number is :- 1143156
Friends of Bude Sea Pool Ltd
Report and Accounts
31 October 2023
Friends of Bude Sea Pool Ltd
Report and accounts for the year ended 31 October 2023
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 6 | |
| Independent Auditors' Report | 7 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 8 | |
| Movements in funds | 9 | |
| Income and Expenditure account | 10 | |
| Balance sheet | 11 | |
| Notes to the accounts | 12 |
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
The Trustees present their Report and Accounts for the year ended 31 October 2023, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name
The legal name of the charity is:- Friends of Bude Sea Pool Ltd.
The charity is also known by its operating name, FoBSP.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1143156.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated
29 July 2011
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, email and web addresses of the charity are:-
The Old Toilets Summerleaze Crescent, Bude Cornwall, EX23 8HJ
Email address: chair@budeseapool.org Website: budeseapool.org
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
1
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The company's principal activity is the maintaining of the historical sea pool on Summerleaze Beach, Bude. In practice this means that we manage, maintain and, where possible improve Bude Sea Pool (BSP). Since we took over responsibility for the pool in 2011 on a 99-year lease from Cornwall County Council our Trustees, Committee members, paid employees, volunteers, and sponsors have worked together to ensure that BSP provides a safe, open access, free of charge environment for swimming and related activities for the use of local residents and visitors alike. In 2011 the company took over the responsibility of the pool from Cornwall Council and contracted for significant improvement work to be undertaken.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
We have delivered tangible and enduring improvements to the pool and its associated amenities while ensuring that regular essential maintenance is completed to a yearly schedule. This has entailed us conducting an energetic and imaginative fund-raising operation, backed by a successful campaign to raise awareness of BSP's importance to Bude and the BSP's visibility at both local and national levels. BSP is an asset to the town and contributes to pulling in revenue to local businesses. Pool use, and recognition of the BSP's importance to the leisure economy of Bude that is generated through social media feedback, has increased year on year. BSP is frequently a top-rated visitor attraction on TripAdvisor. We are well-regarded and respected in the local area – we continue to receive the support of many local businesses.
We have also responded positively to the changes in the environment in which we operate, both regulatory, financial and more broadly as Bude develops as a year-round holiday destination, and, just as importantly, we have always looked ahead and sought to be proactive in developing BSP in ways that will secure its long-term future as an amenity for the local community and visitors alike, whilst retaining its natural and open aspects
The short term and longer term aims and objectives.
Our website is being updated to be more accessible and informative. We continue to research new products, ensuring that they fit with our objectives of being manufactured sustainably and locally where possible. We also plan fundraising events to support BSP but also ensure that we contribute to and remain part of the Bude community.
The charity's strategies for achieving its aims and objectives in the future.
The trustees have updated the strategic plan for the sea pool and it covers 1 April 2020 to 31 March 2025. The plan is published on the sea pool website. The plan includes the work and development for the plan period and looks forward to the 100th anniversary in 2030 of the construction and opening of the sea pool. The plan remains for the sea pool to remain open to the public free of charge for the foreseeable future.
Risk Mitigation
The major risks to which the Charity is exposed, as identified by the trustees, continue to be reviewed and systems have been extrablished to mitigate those risks.
2
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
Structure, governance and management of the charity
The following persons served as Trustees diring the year ended 31st October 2023 The trusees are also the directors for the purposes of company law.
| Name | Appointed | Resigned/Retired |
|---|---|---|
| Paul Tilzey | - | - |
| Mark Matthews | - | 31st May 2023 |
| Martyn Holehouse | - | - |
| Stella James | 26th March 2023 | - |
| Chris Cannon | 31st May 2023 | - |
| Sarah Moore | - | - |
The methods used to recruit and appoint new charity trustees.
The process for recruiting and appointing new trustees is:
•Invite expressions of interest in joining the trustee board from volunteers and friends via our standard communication channels.
•Expressions of interest are matched against the specific skills and experience which the trustees have identified as required
•Applicants are interviewed by a minimum of two trustees
•Following interviews, the trustee board makes a decision on whether the applicants are suitable
•Applicants are invited to attend a trustee and committee meeting as observers and are provided with an induction checklist
•Following this attendance, new trustees are confirmed in their post and are put to a members’ vote at the next AGM. Governance issues are dealt with within the required timescales
The charity's relationships with related parties.
Bankers Cambridge & Counties Bank, Charnwood Court, New Walk, Co-operative Bank plc, PO Box 250, Skelmersdale, WN8 6WT Hampshire Trust Bank, 80 Fenchurch St, London EC3M 4BY Flagstone, Clareville House, 26-27 Oxendon St, London SW1Y 4
Accountants Sanderson Accountants Ltd, 1st Floor, 38 Lansdown Road, Bude, Cornwall,
3
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
Financial review
The charity's financial position at the end of the year ended 31 October 2023
The financial position of the charity at 31 October 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Designated Revenue Funds Total Unrestricted Funds Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Net income |
2023 £ (5,623) 97,244 221,909 319,153 319,153 |
2022 £ 121,598 302,867 21,909 324,776 324,776 |
|---|---|---|
As at 31st October 2023 the charity had reserves of £319,153 (2022: £324,776. The charities income has decreased by £82,969 to £245,073 (2022: £328,042). Expenditure has increased by £44,252 to £250,696 (2022: £206,444).
No charge is made for the use of the pool. It is free to use all year round. Our main income year on year is derived from membership fees with further income, particularly over the summer holiday months, coming from the sale of BSP merchandise, beach hut and deck chair hire and visitor donations. We are fortunate to have ongoing sponsorship from a range of local and national businesses. Their regular support makes a substantial contribution to costly recurring pool maintenance tasks and provides additional advertising for Bude and the pool. In addition, and where our plans and projects require substantial capital funding, we have made successful bids for grants. The past year has seen continued successful sales of merchandise.
In the year ended 31 October 2023 our total income of £245,073 was made up as follows:
----- Start of picture text -----
Beach Huts Hire £19,500 7.96%
Collection Tins £6,088 2.48%
Corporate Membership £16,100 6.57%
Donations £39,752 16.22%
Fundraising £11,505 4.69%
Gift Aid £11,448 4.67%
Grants £6,440 2.63%
Legacies £199 0.08%
Interest receivable £9,148 3.73%
Membership £25,567 10.43%
Merchandise £96,499 39.39%
Storage £1,300 0.53%
Venue Hire £1,527 0.62%
£245,073 100.00%
----- End of picture text -----
4
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
Policies on reserves.
Like all charities, Friends of Bude Sea Pool keeps money aside as reserves to ensure it has sufficient funds to deliver its planned business for the year ahead, to protect against drops in income, manage both major and un-planned calls for funds and to allow the charity to move quickly to take advantage of new opportunities. The charity holds the following reserves as at 31 October 2023.
An unrestricted general reserve , set at £75,000. This reserve can be used for any expenditure designed to support the charity’s mission.
A designated reserve for the replacement of the charity’s beach huts. This reserve is designated for the replacement of the charity’s beach huts following an uninsured loss event. The beach huts are a business-critical source of income and, in the event of the need to replace them as a matter of urgency, funds must be available immediately. Whilst the beach huts and their revenue are insured, given their construction and location, it is not possible to insure them against many normal insurable perils (i.e. storm damage). This reserve is set at £21,909 .
A designated reserve for major repairs and maintenance. The location of the pool makes it very vulnerable to storm damage, cliff collapse and other natural hazards. As the charity is unable to secure natural perils insurance on the sea pool structure itself or the adjacent terracing, the charity requires a substantial designated reserve for quick remedial action to be taken in the event of major damage, in order to prevent further damage, additional repair costs, and a potential loss of income if the pool had to be taken out of use for a prolonged period. The aim is to maintain a self-insurance reserve of £200,000 to protect against such eventualities. This sum does not represent the costs of the complete replacement of the sea pool wall but the trustees believe that the eventuality of its complete destruction is unlikely to occur, based on previous experience.
Restricted reserves. These will include any grants and/or donations that have been received for a specified and limited purpose. None were held at 31 October 2023.
5
Friends of Bude Sea Pool Ltd
Company Registration Number - 07630060
Trustees' Annual Report for the year ended 31 October 2023
Statement of the Directors ' and Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the accountant preparing the accounts has no responsibilities in relation to the Trustees' report.
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 8 to 20.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), B623 and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 14th March 2024
PAUL TILZEY Director and Trustee
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Friends of Bude Sea Pool Ltd
Independent Examiner's Report to the trustees of Friends of Bude Sea Pool Ltd
I report to the charity trustees on my examination of the accounts of the company for the period ended 31st October 2023.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that::-
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102)
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.
Name
Address
Rebecca Moore FMAAT
Sanderson Accountants Ltd First Floor 38 Lansdown Rd Bude EX23 8BN
Date
14th March 2024
7
Friends of Bude Sea Pool Ltd - Statement of Financial Activities for the year ended 31 October 2023
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 October 2023, as required by the Companies Act 2006)
| Income from: Donations & Legacies A1 Charitable activities A2 Other trading activities A3 Investments A4 Total income A Expenditure on: Raising funds B1 Charitable activities B2 Total expenditure B Total funds brought forward Total funds carried forward SORP Ref Net movement in funds |
Current year Unrestricted Funds 2023 £ 63,927 160,493 11,505 9,148 245,073 67,110 183,586 250,696 (5,623) 324,776 319,153 |
Current year Restricted Funds 2023 £ - - - - - - - - - - - |
Current year Total Funds 2023 £ 63,927 160,493 11,505 9,148 245,073 67,110 183,586 250,696 (5,623) 324,776 319,153 |
Prior Year Total Funds 2022 £ 150,453 166,487 10,155 947 328,042 68,983 137,461 206,444 121,598 203,178 324,776 |
|---|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
All activities derive from continuing operations
The notes attached on pages 12 to 20 form an integral part of these accounts.
8
Friends of Bude Sea Pool Ltd - Statement of Financial Activities for the year ended 31 October 2023
Movements in revenue and capital funds for the year ended 31 October 2023
Revenue accumulated funds
| Accumulated funds brought forward Closing revenue funds Recognised gains and losses before transfers |
Unrestricted Funds 2023 £ 324,776 (5,623) 319,153 319,153 |
Restricted Funds 2023 £ - - - - |
Total Funds 2023 £ 324,776 (5,623) 319,153 319,153 |
Last year Total Funds 2022 £ 203,178 121,598 324,776 324,776 |
|---|---|---|---|---|
| Designated revenue funds included within the unrestricted funds above At 1 November Transfer to revenue designated funds At 31 October |
Total Funds 2023 £ 21,909 200,000 221,909 |
Last year Total Funds 2022 £ 21,909 - 21,909 |
|---|---|---|
The purposes for which these funds have been designated are described in Note 10 to the accounts.
| Summary of funds Unrestricted and Designated funds 2023 £ Revenue accumulated funds 97,244 Revenue designated funds 221,909 Total funds 319,153 |
Restricted Funds 2023 £ - - - |
Total Funds 2023 £ 97,244 221,909 319,153 |
Last Year Total Funds 2022 £ 302,867 21,909 324,776 |
|---|---|---|---|
The notes attached on pages 12 to 20 form an integral part of these accounts.
9
Friends of Bude Sea Pool Ltd - Statement of Financial Activities for the year ended 31 October 2023
Friends of Bude Sea Pool Ltd
Income and Expenditure Account for the year ended 31 October 2023 as required by the Companies Act 2006
| Income Income from operations Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Fundraising costs Governance costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2023 £ 235,925 9,148 245,073 245,073 183,086 67,110 500 - 250,696 (5,623) - (5,623) (5,623) |
2022 £ 327,095 947 328,042 328,042 136,961 68,983 500 - 206,444 121,598 - 121,598 121,598 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 12 to 20 form an integral part of these accounts.
10
Friends of Bude Sea Pool Ltd - Balance Sheet as at 31 October 2023 Registered Number 07630060
| Note SORP Ref Current assets B Stocks B1 Debtors 6 B2 Cash at bank and in hand B4 Total current assets Creditors: amounts falling due within one year 7 C1 Net current assets The total net assets of the charity |
30,522 10,316 427,180 468,018 148,865 |
2023 £ 319,153 319,153 |
30,853 3,857 432,110 466,820 142,044 |
2022 £ 324,776 324,776 |
|---|---|---|---|---|
The total net assets of the charity are funded by the funds of the charity, as follows:-
Unrestricted Funds
| Unrestricted Revenue Funds 9 D3 97,244 Designated Funds Designated Revenue Funds 9 D3 221,909 Total charity funds |
302,867 97,244 21,909 221,909 319,153 |
302,867 21,909 324,776 |
|---|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
PAUL TILZEY
Trustee
Approved by the board of trustees on 14 March 2024
11
Friends of Bude Sea Pool Ltd
Notes to the Accounts for the year ended 31 October 2023
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
At the time of approving the finacial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existance for the forseeable future. Thus the trustees continue to adopt the going cocern basis of accoutning in preparing the financial statements.
The charity is a public benefit entity.
Income recognition
Income is recognised when the charity is legally entitled to it after any performance conditionals have been met, the amounts can be measured reliably and it is probable that the income will be received.
Income from donations, grants and legacies is accounted for in the period it is received.
Income from corporate membership and beach hut hire is recognised at the date that the income falls due.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
12
Friends of Bude Sea Pool Ltd
Notes to the Accounts for the year ended 31 October 2023
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors
Creditors are amounts identified as outstanding at the balance sheet date,.
Pensions - defined contribution schemes
The charity contines to operate a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Staff costs and emoluments
| Salary costs Gross Salaries excluding trustees and key management personnel Employer's National Insurance for all staff Employer's operating costs of defined contribution pension schemes Total salaries, wages and related costs The average number of part time staff employed in the year was The average number of full time staff employed in the year was The estimated full time equivalent number of all staff employed in the year was |
2023 £ 113,760 3,052 1,702 118,514 8 3 7 |
2022 £ 91,740 - 1,140 92,880 6 4 7 |
|---|---|---|
There were no employees whose annual remuneration was £60,000 or more.
13
Friends of Bude Sea Pool Ltd
Notes to the Accounts for the year ended 31 October 2023
4 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
| 5 Stocks & Work in Progress Stocks before write downs 6 Debtors Trade debtors Prepayments and accrued income Other debtors 7 Creditors: amounts falling due within one year Trade creditors Accruals PAYE, NIC VAT and other taxes |
2023 £ 30,522 30,522 2023 £ 3,403 5,818 1,095 10,316 2023 £ 4,089 135,000 9,776 148,865 |
2022 £ 30,853 30,853 2022 £ 150 3,036 671 3,857 2022 £ 3,614 135,000 3,430 142,044 |
|---|---|---|
8 Particulars of how particular funds are represented by assets and liabilities
| At 31 October 2023 Current Assets Current Liabilities At 1 November 2022 Current Assets Current Liabilities |
Unrestricted funds £ 468,018 (148,865) 319,153 Unrestricted funds £ 444,911 (148,865) 296,046 |
Designated funds £ - - Designated funds £ 21,909 - 21,909 |
Restricted funds £ - - - Restricted funds £ - - - |
Total Funds £ 468,018 (148,865) 319,153 Total Funds £ 466,820 (142,044) 324,776 |
|---|---|---|---|---|
14
Friends of Bude Sea Pool Ltd
Notes to the Accounts for the year ended 31 October 2023
9 Change in total funds over the year as shown in Note 8 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Designated Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2022 £ 302,867 21,909 324,776 324,776 |
Movement in funds in 2023 £ (5,623) - (5,623) (5,623) |
£ (200,000) 200,000 - - Transfers between funds in 2023 |
Funds carried forward to 2024 £ 97,244 221,909 319,153 319,153 |
|---|---|---|---|---|
10 The purposes for which the funds
Unrestricted and designated funds:-
Unrestricted Revenue Funds
Designated Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
These funds are set aside for major repairs and maintenance to the Sea Pool.
11 Ultimate controlling party
The charity is under the control of its legal members.
15
Friends of Bude Sea Pool Ltd
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
12 Donations, Grants and Legacies
----- Start of picture text -----
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2023 2023 2023 2022
£ £ £ £
Donations and gifts from individuals
Donations 39,752 - 39,752 16,537
Gift Aid 11,448 - 11,448 11,617
Total donations and gifts from 51,200 - 51,200 28,154
individuals
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2023 2023 2023 2022
£ £ £ £
Legacies receivable
Small legacies individually less than £1000 199 - 199 459
John Littlejohns Walter - - - 107,629
Total legacies receivable 199 - 199 108,088
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2023 2023 2023 2022
£ £ £ £
Revenue grants from government and
public bodies
Small grants individually less than £1000 - - - 200
Stewardship 5,000 - 5,000 5,000
Semble Network Ltd 1,440 - 1,440 -
Total public sector revenue grants 6,440 - 6,440 5,200
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2023 2023 2023 2022
£ £ £ £
Collection Tins 6,088 - 6,088 9,011
Total Collection Tins 6,088 - 6,088 9,011
Total Donations, Grants and Legacies
Total Donations, Grants and A1 63,927 - 63,927 150,453
Legacies
----- End of picture text -----
16
Friends of Bude Sea Pool Ltd
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
13 Income from charitable activities - Trading Activities
| Current year Income from Charitiable Activities Corporate Memberships Beach Huts Hire Letting of property for charitable purposes Venue Hire Membership subscriptions Total Income from Charitiable Activities Sale of goods and services in accordance with the charity's objects |
Current year Unrestricted Funds 2023 £ 96,499 1,300 16,100 25,567 1,527 19,500 160,493 |
Current year Restricted Funds 2023 £ - - - - - - - |
Current year Total Funds 2023 £ 96,499 1,300 16,100 25,567 1,527 19,500 160,493 |
Prior Year Total funds 2022 £ 101,343 - 15,829 30,773 - 18,542 166,487 |
|---|---|---|---|---|
14 Income from other, non charitable, trading activities
| Total from other activities A3 15 Investment income Bank Interest Receivable Total investment income A4 Income from fundraising events |
Current year Unrestricted Funds 2023 £ 11,505 11,505 Current year Unrestricted Funds 2023 £ 9,148 9,148 |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 11,505 11,505 Current year Total Funds 2023 £ 9,148 9,148 |
Prior Year Total Funds 2022 £ 10,155 10,155 Prior Year Total Funds 2022 £ 947 947 |
|---|---|---|---|---|
All the income in the prior year was unrestricted.
17
Friends of Bude Sea Pool Ltd
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
16 Expenditure on charitable activities - Direct spending
| Current Year Total direct spending B2a Defined contribution pension costs - charitable activities Staff training and welfare Employers' NI - Charitable activities Gross wages and salaries - charitable activities Travel and Subsistence - Charitable Activities |
Current year Unrestricted Funds 2023 £ 113,760 3,052 1,702 689 1,829 121,032 |
Current year Restricted Funds 2023 £ - - - - - - |
Current year Total Funds 2023 £ 113,760 3,052 1,702 689 1,829 121,032 |
Prior Year Total Funds 2022 £ 91,740 - 1,140 1,230 421 94,531 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
17 Expenditure on charitable activities - Charitable trading
| Current Year Total charitable trading costs B2b Repairs and maintenance |
Current year Unrestricted Funds 2023 £ 29,586 29,586 |
Current year Restricted Funds 2023 £ - - |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 29,586 17,000 29,586 17,000 |
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
18 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grantmaking costs B2c Grants made to organisations |
Current year Unrestricted Funds 2023 £ 782 782 |
Current year Restricted Funds 2023 £ - - |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 782 - 782 - |
|---|---|---|---|
18
Friends of Bude Sea Pool Ltd
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
Breakdown of Grants made to organisations
| Current Year Keep Britain Tidy |
Current year Unrestricted Funds 2023 £ 782 782 |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 782 782 |
|---|---|---|---|
19 Support costs for charitable activities
| Current year Current year Current Year Unrestricted Funds Restricted Funds 2023 2023 £ £ Premises Expenses 7 - 835 - 4,542 - Administrative overheads 414 - 1,836 - 5,805 - 546 - 4,378 - 3,469 - 743 - 1,005 - 4,000 - Professional fees paid to advisors other than the auditor or examiner 1,068 - - - Financial costs 3,038 - Support costs before reallocation 31,686 - Total support costs - Current Year 31,686 - The basis of allocation of costs between activities is described under accounting policies All the expenditure in the prior year was unrestricted. Bank charges Accountancy fees other than examination or audit fees Legal fees Stationery and printing Rent Light heat and power Telephone, fax and internet Rates and water charges Liabilty and contents insurance Hire of equipment Equipment expenses Software licences and expenses Admin overheads Sundry expenses Other office costs |
Current year Total Funds 2023 £ 7 835 4,542 414 1,836 5,805 546 4,378 3,469 743 1,005 4,000 1,068 - 3,038 31,686 31,686 |
Prior Year Total Funds 2022 £ 68 1,357 1,000 400 1,673 5,835 272 2,481 4,288 610 1,602 1,899 788 735 2,422 25,430 25,430 |
|---|---|---|
19
Friends of Bude Sea Pool Ltd
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
20 Other Expenditure - Governance costs
| Current Year Independent Examiner's fees Total Governance costs All the expenditure in the prior year was unrestricted. 21 Total Charitable expenditure Current Year Total direct spending B2a Total charitable trading costs B2b Total grantmaking costs B2c Total support costs B2d Total Governance costs B2e Total charitable expenditure B2 |
Current year Unrestricted Funds 2023 £ 500 500 Current year Unrestricted Funds 2023 £ 121,032 29,586 782 31,686 500 183,586 |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - - - - - |
Current year Total Funds 2023 £ 500 500 Current year Total Funds 2023 £ 121,032 29,586 782 31,686 500 183,586 |
Prior Year Total Funds 2022 £ 500 500 Prior Year Total Funds 2022 £ 94,531 17,000 - 25,430 500 137,461 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
22 Expenditure on raising funds and costs of investment management
| Current Year Fundraising trading costs Marketing & advertising of fundraising Costs of charity shop selling goods Total fundraising costs B1 |
Current year Unrestricted Funds 2023 £ 486 10,330 56,294 67,110 |
Current year Restricted Funds 2023 £ - - - - |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 486 - 10,330 4,523 56,294 64,460 67,110 68,983 |
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
20