**REGISTERED COMPANY NUMBER: 07667762 (England and Wales) REGISTERED CHARITY NUMBER: 1148907** 

**Report of the Trustees and** 

**Audited Financial Statements for the Year Ended 31 March 2023** 

**for** 

**Guildford City Swimming Club** 

JMSolutions 48 Rothschild Drive Sarisbury Green Southampton Hampshire SO31 7NS 



## **Guildford City Swimming Club** 

## **Contents of the Financial Statements for the Year Ended 31 March 2023** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|9|
|**Report of the Independent Auditor**|10|to|12|
|**Statement of Financial Activities**||13||
|**Balance Sheet**||14||
|**Cash Flow Statement**||15||
|**Notes to the Cash Flow Statement**||16||
|**Notes to the Financial Statements**|17|to|23|
|**Detailed Statement of Financial Activities**|24|to|25|





## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

(a) the promotion of community participation in healthy recreation for the benefit of the inhabitants of Guildford, its surrounding area and the general public, in particular by the provision of facilities for swimming; and 

(b) the preservation of human life by the teaching of swimming, water safety, lifesaving and survival in water. 

In the furtherance of the Objects: 

(a) the Charity is committed to treating everyone equally within the context of its activity. This shall be, without limitation, regardless of sex, ethnic origin, religion, disability or political persuasion, on any grounds; 

(b) the Charity shall implement Swim England's Equal Opportunities policy; 

(c) the trustees continue to have regard to the Charity Commission's guidance on public benefit. 

## **Significant activities** 

Affiliation to Swim England 

The Charity shall be affiliated to Swim England through the Swim England South East Region, shall adopt and conform to the rules of Swim England and to such other bodies as the Charity may determine from time to time. 

The business and affairs of the Charity shall at all times be conducted in accordance with the Swim England Laws and in particular: 

(a) all competing members of the Charity shall be eligible competitors as defined in Swim England Laws; 

(b) the Charity shall in accordance with Swim England Laws adopt the Swim England Child Safeguarding Policy and 

people have a right to have fun, be safe and be protected from harm; and 

(c) members of the Charity shall in accordance with Swim England Laws comply with the Swim England Child Safeguarding Policy and Procedures. 

By virtue of the affiliation of the Charity to Swim England through Swim England South East Region, the Charity and all members of the Charity acknowledge that they are subject to the laws, rules and constitutions for the time being in force of: 

(a) Swim England South East Region; 

(b) Swim England (including, without limitation, the Swim England Handbook and Code of Ethics); 

(c) British Swimming (including, without limitation, the British Swimming Anti-Doping Rules and Judicial Code (February 2009)); and 

(d) FINA; 

In the event that there shall be any conflict between any of these Articles, or by-law of the Charity, any of the Governing Body Rules and the provisions of the Acts then the provisions of the Acts shall prevail. 

## VOLUNTEERS 

The Trustees are indebted to the many volunteers who give their time and expertise to enable the Club to achieve its objectives. 

## **Public benefit** 

The Trustees and the management committee have kept in mind the Charity Commission's guidance on public benefit and the objectives of the charity accord with this. 

Page 1 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

**STRATEGIC REPORT Achievement and performance Charitable activities** Competitive Swimming Highlights 1st April 2022 - 31st March 2023 April 2022: 

- GCSC take 41 swimmers to British Championships in Sheffield 

* Surrey Uni take 18 swimmers to British Championships in Sheffield. 

- 6 swimmers selected to attend the South East Region Open Water Camp (Madison, Darcy, Alice, Fin, Lexi, Isla) 

* Surrey Uni finish 4th at Team Championships - highest ever finish 

- 12 Swimmers selected for the Swim England Phase 2 National Development Camp 

May 2022: 

* Highest ranked Club at South East Region on Points o GCSC: 1132 o WDSC: 974.5 o RTW Monson: 591.5 

* Darcy Revitt selected for European Junior Championships. Ultimately finishing 10th. 

* Alicia Wilson selected for Commonwealth Games. Ultimately finishing in 8th Place on the 200m IM and with a Bronze medal in the Mixed IM relay. 

July 2022 

- 50 swimmers attend British and Home Nation Championships. 

September 2022: 

* National Arena Junior League Champions 2022 

* Madison Emment qualifies for and swims at the Barcelona LEN Cup with British Swimming finishing 12th. 

October 2022 

* 17 GCSC swimmers represent Surrey at the County Team Championships who finish 6th in the Premier Division. 

November 2022: 

* Fin and Alice selected for the Swim England Distance Initiative. 

* Surrey Uni finish in 8th place at BUCS with their highest ever points total. 

December 2022: 

* 34 GCSC swimmers attend Winter National Championships in Sheffield. 

* Darcy Revitt and Emma Allat-file represent Swim England at the Toronto Open Meet in Canada. 

* Arena League - A Team finish at Regional Champions with the C Team winning Division 1. This means GCSC will have 3 teams in the Premier Division in 2023. 

January 2023: 

* 5 GCSC swimmers attend Luxembourg Open as part of the South East Region Team (Tegan Matthews, Nicole Ryan, Darcy Revitt, Emma Allat-File & Christian Duetoft) 

* 4 Surrey Uni Swimmers attend Luxembourg Open (Chris Finch, Ewan Taylor, Maisie Thornton, Rhiannon Bowen) 

* Roger Billings British Record 100m Back (80-84 years) 

- February 2023: Surrey: Top men's, women's and overall club. 20 consecutive years 

March: 

- Surrey Uni secure another top 10 finish at BUCS. 

* GCSC finish 2nd at the National Arena League final in Cardiff. Tatiana Belonogoff winning the top female award and Olivia Hagberg winning the top under 11 award. The Team won the Relay Challenge. 

- Darcy Revitt and Emma Allat-File represent Swim England in Sweden with Lewis Dunford attending at a coach. 

* Mar Gunnarsson swims at the Disability World Swimming Championships in Sheffield and qualifies for the World Championships in Manchester later in August. 

Page 2 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STRATEGIC REPORT Financial review** 

## **Principal funding sources** 

Review of Income and Expenditure for the year ended 31 March 2023 

Total Income for the year amounted to £1,353,807, an increase of £125 thousand on 2022. The principal funding sources are: membership income and training fees (929 thousand); Coaching and Development fees charged for the Learn to Swim programme, camps, clinics and University of Surrey student training (£352 thousand); £55 thousand from GCSC Open meets. Our income from Gift Aid was £3 thousand. 

Total Expenditure of the Charity was £1,351 thousand, an increase of £53 thousand on 2022 with the main expenditure being the costs of coaching, teaching and administrative staff; and the hire of pool and land training facilities. Governance costs were £27 thousand (£31 thousand 2022). 

Net Assets 

The Charity's Net Assets at 31 March 2023 were £131 thousand. This represents an increase of £2 thousand compared to 2022. Net Current Assets were £127 thousand and Fixed Assets £4 thousand. 

## **Reserves policy** 

Financial Strategy and Reserves 

In the absence of unforeseen circumstances, the Charity aims to increase reserves in the region of £30 thousand each year until it reaches the agreed reserves target set by the Trustees. The reserves target at 31 March 2023 was set at £250 thousand. The reserves target is set at a level where the Charity can continue to cover short term commitments should income from members suddenly cease. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

The liability of the members is limited to a sum not exceeding £10 per member on winding up. 

## **Recruitment and appointment of new trustees/directors** 

Following the identification of the present skills and expertise of the current Trustees, the desired additional skills required are identified and potential new Trustees are invited to submit a CV and a letter to the club administrator covering their suitability and experience. They then attend an interview with at least 3 Trustees and at least 4 members of the Management Team to determine suitability. Account will be taken of welfare issues etc. 

Page 3 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure** 

The directors shall be responsible for the management of the Charity, for which purpose they may exercise all the powers of the Charity, and they shall have the sole right of appointing and determining the terms and conditions of service of employees of the Charity, and of dismissing them. The directors shall appoint a Management Team which will comprise a minimum of 4 and up to 6 persons and shall act under delegated powers of the directors. The Management Team shall not be directors of the charity but will be members of the charity. The directors shall authorise the Management Team to be responsible for the day to day management of the charity. The directors shall not refuse to follow the recommendations of the Management Team unless there is good cause. 

The directors shall be responsible for ensuring that the accounts of the Charity for each financial year be independently audited, such auditor to be appointed by the members in a general meeting. 

The directors shall  have the power to make regulations and to settle disputed points not otherwise provided for in the Articles of Association after recommendations by the Management Team. Any meeting of directors at which a quorum is present at the time the relevant decision is made, may exercise all the powers exercisable by the directors. Subject to the Articles and any restriction imposed by the Companies Act or any special resolution, the directors, after recommendation by the Management Team, may change any rule about how they take decisions, and about how such rules are to be recorded or communicated to the members. 

The directors shall be entitled to an indemnity out of the assets of the Charity for all expenses and other liabilities properly incurred by them in the management of the affairs of the Charity, to the extent permitted by sections 232 to 234 of the Companies Act. 

The club administrator shall maintain an accident and incident record on behalf of the directors regarding club members at swimming related activities. Details of such accidents and incidents shall be reported to the relevant Swim England/insurance department. The Charity shall make an annual return to Swim England in the prescribed form. No alteration of the Articles or any special resolution shall have retrospective effect to invalidate any prior act of the directors. 

## CONFLICT OF INTEREST 

A director must declare the nature and extent of any interest, direct or indirect, which he or she has in a proposed transaction or arrangement with the Charity or in any transaction or arrangement entered into by the Charity which has not previously been declared. A director must absent himself or herself from any discussions of the directors in which it is possible that a conflict will arise between his or her duty to act solely in the interests of the Charity and any personal interest (including but not limited to any personal financial interest). 

If a conflict of interest arises for a director because of a duty of loyalty owed to another organisation or person and the conflict is not authorised by virtue of any other provision in the Articles, the unconflicted directors may authorise such a conflict of interest where the following conditions apply: 

(a) the conflicted director is absent from the part of the meeting at which there is discussion of any arrangement or transaction affecting that other organisation or person; 

(b) the conflicted director does not vote on any such matter and is not to be counted when considering whether a quorum of directors is present at the meeting; and 

(c) the unconflicted directors consider it is in the interests of the Charity to authorise the conflict of interests in the circumstances applying. 

In this Article a conflict of interest arising because of a duty of loyalty owed to another organisation or person only refers to such a conflict which does not involve a direct or indirect benefit of any nature to a director. 

## VALIDITY OF ACTS OF DIRECTORS 

Subject to Article 13.2, all acts done by a meeting of directors shall be valid notwithstanding the participation in any vote of a director: 

(a) who was disqualified from holding office; 

(b) who had previously retired or who had been obliged by the constitution to vacate office; 

(c) who was not entitled to vote on the matter, whether by reason of a conflict of interests or otherwise; if without: 

(d) the vote of that director; and 

(e) that director being counted in the quorum; 

the decision has been made by a majority of the directors at a quorate meeting. 

Article 13.1 does not permit a director or connected person to keep any benefit that may be conferred upon him or her by a resolution of the directors if, but for Article13.1, the resolution would have been void. 

## DISQUALIFICATION AND REMOVAL OF DIRECTORS 

A director shall cease to hold office if he or she: 

(a) ceases to be a director by virtue of any provision in the Companies Act or is prohibited by law from being a director; (b) is disqualified from acting as a trustee by virtue of sections 178 and 179 of the Charities Act (or any statutory re-enactment or modification of that provision); 

(c) ceases to be a member of the Charity or Swim England; 

(d) has a bankruptcy order made against them and it remains undischarged, or they have entered into a voluntary arrangement with their creditors; 

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## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

(e) becomes incapable by reason of mental disorder, illness or injury of managing and administering his or her own affairs; 

(f) resigns as a director by notice to the Charity and such resignation has taken effect in accordance with its terms; or (g) is absent without the permission of the directors from all their meetings held within a period of six consecutive months and the directors resolve that his or her office be vacated. 

## MANAGEMENT TEAM 

The Management Team shall be appointed by the directors and shall be at least 4 and up to 6 persons and shall act under delegated powers of the directors. The Management Team shall not be directors of the charity. 

All members of the Management Team shall be employed members of the charity. The Management Team shall be balanced between membership/administration members and members who are coaches and whilst the charity maintains such positions the members of the Management Team shall include the Chief Coach who shall be the Management Team Chair and the Club Administrator who shall be the Management Team Secretary. Members of the Management Team shall not  be related to each other. 

Meetings of the Management Team, which can also be held by suitable electronic means, shall be held not less than once every month (save where the Management Team itself shall by a simple majority resolve not to meet), and the quorum of that meeting shall be at least 3 members of the Team to include either the Management Team Chair or Management Team Secretary. 

The Chair shall have discretion to call further meetings of the Management Team if they consider it to be in the interests of the Charity. The Secretary shall give all the members of the Management Team not less than two days verbal or written notice of a meeting. Decisions of the Management Team shall be made by a simple majority (and in the event of equality of votes the Chair (or the acting Chair of that meeting) shall have a casting or additional vote.) Each Management Team member attending shall be entitled to one vote save for the Chair in the circumstance described above. The Secretary, or in his absence a member of the Management Team, shall take minutes and the Management Team shall ensure that the Charity keeps a record, in writing, for at least 10 years from the date of the decision recorded, of every unanimous decision or majority decision taken by the Management Team. 

## OFFICERS AND HONORARY MEMBERS 

The Management Team may elect any person as an honorary member of the Charity (President, Vice-Presidents, Honorary Life Vice-President or other), for such period as it thinks fit and they shall be entitled to all the privileges of membership except that they shall not be entitled to vote at meetings and serve as directors or on the Management Team unless they fulfill the criteria set for such positions in the Articles and any such person is elected in addition to his The Charity shall have a Welfare Officer who shall not be a director, the coach, any of the club teachers, coaches or team managers. The Welfare Officer must be not less than 18 years of age, should have an appropriate background for the role and should be prepared to undertake appropriate training as required by Swim England Child Protection Policy and Procedures. The directors shall invite the Welfare Officer to attend meetings of the directors and/or meetings of the 

## MINUTES 

The Management Team, on behalf of the directors, must keep minutes of all: 

(a) appointments of directors and Management Team members made by the Charity; 

(b) proceedings at general meetings of the Charity; 

(c) meetings of the directors including: 

(i) the names of the directors present at the meeting; 

(ii) the decisions made at the meetings; and 

(iii) where appropriate the reasons for the decisions. 

(d) Meetings of the Management Committee including: 

(i) the names of those persons present at the meeting; 

(ii) the decisions made at the meetings; and 

(iii) where appropriate the reasons for the decisions. 

## ANNUAL GENERAL MEETING 

The annual general meeting of the Charity shall be held each year on a date to be determined by the Management Team. The minimum notice required for the Annual General Meeting is 21 clear days The purpose of the annual general meeting is to transact the following business: 

(b) to receive and consider the accounts of the Charity for the previous year and the report on the accounts of the independent auditor and the Treasurer's report as to the financial position of the Charity; 

(c) to remove and elect the auditor (who must not be a director or a connected person of a director) or confirm that he remain in office; 

(d) to elect or re-elect the directors; 

(e) to decide on any resolution which may be duly submitted in accordance with Article 18.2.5 

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## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

Nominations for election of members to the Board of Trustees and Directors shall be made in writing by the proposer and seconder to the Secretary not less than 14 days and no more than 35 days before the date of the annual general meeting. The nominee shall be required to indicate in writing on the nomination form his willingness to stand for election. A member may be proposed for more than one office, but may not be elected or appointed to more than one. 

## ADMISSION OF MEMBERS 

The Charity must keep a register of members as required by the Companies Act. 

The membership of the Charity, by category, or in total, may not be limited other than by decision of the directors whose decision shall be determined by the availability of resources (principally water time), teachers and/or coaches. 

shall include, but not be restricted to, administrators, associate members, voluntary instructors, teachers and coaches, Management Team members, helpers, honorary members, life members, officers, patrons, Presidents, technical and non- 

certificates. 

Paid instructors, teachers and coaches who are not members of the Charity must be members of a body which accepts Procedures and those parts of the Judicial Code (February 2009) and procedures necessary for their implementation and whilst engaged in activities under the jurisdiction of Swim England shall be subject to all the constraints and privileges of the Judicial Code (February 2009). 

Any person who wishes to become a member of the Charity must submit a signed application to the Secretary (and in membership shall be determined by the Membership Applications sub-committee but other person(s) authorised by the -committee shall be required to give reasons for the refusal of any application for membership. Any person refused membership may seek a review of this decision before a review panel appointed by the directors comprised of not less than three members (who may or may not be directors). The panel shall (wherever practicable) include one independent member nominated by Swim England through Swim England South East Region. The person refused membership shall be entitled to make representations to the Review Panel. The procedures for review shall be at the discretion of the Review Panel whose decision shall be final and binding. 

The Charity shall not refuse an application for membership on discriminatory grounds, whether in relation to ethnic origin, age, sex, religion, disability, political persuasion or sexual orientation. 

The Charity may refuse membership only for good and sufficient cause, such as conduct or character likely to bring the Charity or the sport of swimming into disrepute, or, if acting reasonably and properly, it is considered to be in the best interests of the Charity to refuse the application. 

The membership of the Charity shall consist of: 

(a) the directors for the time being; 

(b) all employed staff; 

(c) all adult members; 

(d) all junior members; 

(e) all persons who assist with the Charity's activities; 

(f) any honorary members who become members of the Charity in accordance with Article 16.1. Membership shall not be transferable. 

## SUBSCRIPTION AND OTHER FEES 

directors and the directors shall in so doing make special provision for different classes of membership as it shall determine. 

The annual subscription, coaching, Swim England membership fee and entrance fee (if any) shall be due on joining the Charity and thereafter on such dates as determined by Swim England (for membership fees) or the Charity as determined by  the Management Team . Parents of junior members shall be responsible for the fees applicable to the junior member. 

Any member whose applicable fees remain unpaid by the date falling 30 days after the due date for payment may be suspended by the Management Team from some or all Charity activities from a date to be determined by the Management Team until such payment is made. In coming to a decision as to the suspension of a member under this Article, the Management Team shall follow the Charity's bursary policy and shall have the discretion to waive fees if they consider it to be in the best interests of the Charity or of a beneficiary of the Charity. 

Page 6 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The directors shall, from time to time, have the power to determine the annual membership subscription and other fees following consultation with the Management Team (and the directors shall not refuse to follow the recommendation of the Management Team unless for good cause) and shall have the power in special circumstances to remit the whole or part of the fees, including Swim England's membership fees, to address issues of social inclusion. This shall include the power to make such increase in the subscription and shall, where the Charity pays the individual Swim England membership fees to Swim England on behalf of members, be consequential upon an increase in individual Swim England membership fees. Any increase in subscriptions shall be advised to the members in writing with the reasons for any increase to be reported to the members at the next annual general meeting. 

## RESIGNATION 

## Membership is terminated if: 

(a) the member dies, or, if it is an organisation, ceases to exist; 

(b) the member gives to the Membership Administrator written notice of his resignation unless, after the resignation, there would be fewer than two members. 

shall commence from the date of the relevant subscription invoice, or the start of any club term, whichever is the later. Where the membership of a member shall be terminated in this way he shall be informed in writing that he is no longer a member. 

No member of the Charity is entitled to any refund of applicable fees on ceasing to be a member for any reason. Swim England membership department shall be informed should a member resign when still owing money or goods to the Charity. 

## EXPULSION OR OTHER DISCIPLINARY ACTION 

The directors, following consultation with the Management Team, shall have power to expel a member when, in their opinion, it would not be in the interests of the Charity for him to remain a member. The Charity in exercising this power shall comply with the provisions of the Articles. 

the same may be revised from time to time. 

Where a member is expelled by the directors under Article 10.1 the resolution removing the member may only be a) passed if the member has been given 21 days notice in writing of the meeting of the directors and Management Team at which the resolution will be proposed and the reasons why it is to be proposed and (b) the member or, at the option of the member, the member's representative,(who need not be a member of the Charity) has been allowed to make representation to the meeting. A member may not be permanently expelled unless the member has been temporarily suspended by the Management Team  as under Article 10.4. 

Where suspension is approved it shall take immediate effect and shall apply for the period specified. Where expulsion is approved the member shall cease to be a member with immediate effect in accordance with Article 10.5. 

The Administrator or Head of Safeguarding, who shall be members of the Management Team, may temporarily suspend or exclude a member from particular training sessions and/or wider club activities, when in their opinion, such action is in the interests of the Charity. Where such action is taken the complaint will thereafter be dealt with in accordance with Swim England Laws and the provision of Article 10.6. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

07667762 (England and Wales) 

## **Registered Charity number** 

1148907 

## **Registered office** 

48 Rothschild Drive Sarisbury Green Southampton Hampshire SO31 7NS 

## **Principal address** 

70 Connaught Road Aldershot Hampshire GU12 4RR 

Page 7 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Trustees** 

J E Ingram Prof C R Victor J R Steele (Lawyer) A Wilson (Managing Director) 

## **Senior Administrators** 

Mrs J Smith Mrs E Simmons 

## **Auditor** 

Hughes Waddell Limited The White House 2 Meadrow Godalming Surrey GU7 3HN 

## **Solicitors** 

Charles Russell Speechlys LLP One London Square Cross Lanes Guildford GU1 1UN 

## **COMMENCEMENT OF ACTIVITIES** 

The Charity acquired the assets and liabilities of the unincorporated body known as Guildford City Swimming Club on 1 April 2013. 

Guildford City Swimming Club was originally established in 1889 and is now a Swim England SwimMark Performance Club and a Swim England National Performance Centre. 

It is one of the largest and most successful swimming clubs in the country and operates from 7 different swimming pools, enjoying twin headquarters at both the Guildford Spectrum Leisure Centre and the University of Surrey / Surrey Sports Park 50m facility. 

The membership covers a large geographical area including all of Surrey, and parts of Berkshire, Hampshire, Kent, Sussex & London. 

The Club is managed by a Management Team with delegated powers from the Board of Trustees/Directors, and a professional staff of qualified coaches, teachers, and administrators. Head Coach Lee Spindlow and his team manage the University of Surrey Swimming Squads. The Club has  over 700 active members and employs over 80 members of staff including two Swim England Level 4 Coaches, two specialist strength & conditioning coaches plus a chartered physiotherapist and nutritionist and a psychology intern who deliver our unique training programme to international swimmers including Olympians and Paralympians all the way through to Learn to Swim youngsters. 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of Guildford City Swimming Club for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

Page 8 



## **Guildford City Swimming Club** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditor is unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

## **AUDITOR** 

The auditors, Hughes Waddell, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 20 December 2023 and signed on the board's behalf by: 

A Wilson - Trustee 

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**Report of the Independent Auditor to the Members of Guildford City Swimming Club** 

## **Opinion** 

We have audited the financial statements of Guildford City Swimming Club (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditor thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

Page 10 



**Report of the Independent Auditor to the Members of Guildford City Swimming Club** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditor that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We performed risk assessment procedures and obtained an understanding of the Charity and its environment, the applicable financial reporting framework, the applicable laws and regulations, the Charity's system of internal control and the fraud risk factors relevant to the Charity that affect the susceptibility of assertions to material misstatement due to fraud. We made enquiries with management regarding actual or suspected fraud, non-compliance with laws and regulations, potential litigation and claims. The engagement partner led a discussion among the audit team with particular emphasis on how and where the Charity's financial statements may be susceptible to material misstatement due to fraud, including how fraud might occur. The engagement partner assessed that the engagement team collectively had the appropriate competence and capability to identify or recognise non-compliance with laws and regulations. We considered the Charity Act 2006, UK Companies Act 2006 and UK GAAP as the key laws and regulations which non-compliance with could directly lead to material misstatement due to fraud at the financial statement level. We evaluated whether the selection and application of accounting policies by the Charity may be indicative of fraudulent financial reporting. Our audit procedures responsive to assessed risks of material misstatement due to fraud at the assertion level included but were not limited to: 

- Testing the appropriateness of manual journal entries recorded in the general ledger and other adjustments made in the preparation of the financial statements; 

- Making inquiries of individuals involved in the financial reporting process about inappropriate or unusual activity relating to the processing of journal entries; 

- Selecting and testing journal entries and other adjustments made at the end of a reporting period and throughout the period; 

- Reviewing accounting estimates for biases that could represent a risk of material misstatement due to fraud; There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditor. 

Page 11 



**Report of the Independent Auditor to the Members of Guildford City Swimming Club** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Nicholas Dodd (Senior Statutory Auditor) for and on behalf of Hughes Waddell Limited The White House 2 Meadrow Godalming Surrey GU7 3HN 

20 December 2023 

Page 12 



## **Guildford City Swimming Club** 

## **Statement of Financial Activities** 

**for the Year Ended 31 March 2023** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**Charitable activities**<br>5<br>Coaching & development<br>Investment income<br>4<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>6<br>Coaching & development<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**31.3.23**<br>**Unrestricted**<br>**fund**<br>**£**<br>**3,434**<br>**1,350,006**<br>**367**<br>**1,353,807**<br>**1,351,408**<br>**2,399**<br>**129,507**<br>**131,906**|31.3.22<br>Total<br>funds<br>£<br>2,409<br>1,225,961<br>10|
|---|---|---|
|||1,228,380|
|||1,298,245|
|||(69,865)<br>199,372|
|||129,507|



The notes form part of these financial statements 

Page 13 



## **Guildford City Swimming Club** 

## **Balance Sheet 31 March 2023** 

|**31.3.23**<br>**Unrestricted**<br>**fund**<br>Notes<br>**£**<br>**FIXED ASSETS**<br>Tangible assets<br>13<br>**4,232**<br>**CURRENT ASSETS**<br>Stocks<br>14<br>**255**<br>Debtors<br>15<br>**257,914**<br>Cash at bank<br>**400,567**<br>**658,736**<br>**CREDITORS**<br>Amounts falling due within one year<br>16<br>**(531,062)**<br>**NET CURRENT ASSETS**<br>**127,674**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**131,906**<br>**NET ASSETS/(LIABILITIES)**<br>**131,906**<br>**FUNDS**<br>17<br>Unrestricted funds<br>**131,906**<br>**TOTAL FUNDS**<br>**131,906**|31.3.22<br>Total<br>funds<br>£<br>4,237<br>525<br>170,142<br>394,141<br>564,808<br>(439,538)<br>125,270<br>129,507<br>129,507<br>129,507<br>129,507|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2023 and were signed on its behalf by: 

A Wilson - Trustee 

The notes form part of these financial statements 

Page 14 



## **Guildford City Swimming Club** 

## **Cash Flow Statement** 

**for the Year Ended 31 March 2023** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**31.3.23**<br>**£**<br>**9,845**<br>**9,845**<br>**(3,786)**<br>**367**<br>**(3,419)**<br>**6,426**<br>**394,141**<br>**400,567**|31.3.22<br>£<br>93,949<br>93,949<br>(959)<br>10<br>(949)<br>93,000<br>301,141<br>394,141|
|---|---|---|



The notes form part of these financial statements 

Page 15 



## **Guildford City Swimming Club** 

## **Notes to the Cash Flow Statement for the Year Ended 31 March 2023** 

## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**||||
|---|---|---|---|
|||**31.3.23**|31.3.22|
|||**£**|£|
|**Net income/(expenditure) for the reporting period (as per the**||||
|**Statement of Financial Activities)**||**2,399**|(69,865)|
|**Adjustments for:**||||
|Depreciation charges||**3,791**|4,928|
|Interest received||**(367)**|(10)|
|Decrease in stocks||**270**|230|
|Increase in debtors||**(87,772)**|(75,289)|
|Increase in creditors||**91,524**|233,955|
|**Net cash provided by operations**||**9,845**|93,949|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.4.22|Cash flow|**At 31.3.23**|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**394,141**|**6,426**|**400,567**|
||**394,141**|**6,426**|**400,567**|
|**Total**|**394,141**|**6,426**|**400,567**|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

The notes form part of these financial statements 

Page 16 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **1. PRESENTATION CURRENCY** 

The whole of this report is presented in GB pounds. 

## **2. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

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

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

Where amounts received and receivable in the year relate to future periods they are carried forward as deferred income. Where amounts relating to the current period are received and receivable after the year end they are included as accrued income. 

## **Expenditure** 

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

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Tangible fixed assets** 

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

|Plant and machinery|-  33% on cost|
|---|---|
|Fixtures and fittings|-  20% on cost|



Tangible fixed assets are initially measured at cost. Cost is measured as the purchase price plus any additional costs incurred in bringing the asset into use in the charity's activities. Tangible fixed assets are subsequently measured at cost less any impairment. 

## **Stocks** 

Stock comprises swimming badges not yet sold and vouchers for officials not yet used. These are valued at purchase price. 

## **Taxation** 

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

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme.  Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Financial instruments** 

The financial instruments of the charity comprise financial assets, cash and financial liabilities. 

## Financial assets 

The charity's financial assets comprise trade debtors. The accounting policy for trade debtors is described in the income accounting policy note. 

Cash and cash equivalents 

Cash and cash equivalents are balances held with banks. 

Page 17 

continued... 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **2. ACCOUNTING POLICIES - continued** 

## **Financial instruments** 

## Financial liabilities 

The charity's financial liabilities include trade and other creditors. The accounting policy for trade and other creditors is described in the expenditure accounting policy note. 

## **3. DONATIONS AND LEGACIES** 

|Gift aid<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Membership/training fees<br>Coaching & development<br>Coaching and development<br>Coaching & development<br>GC Open meets<br>Coaching & development<br>Other GC activities<br>Coaching & development<br>Net commission from shop<br>Coaching & development<br>Other membership income<br>Coaching & development<br>CJRS Grant<br>Coaching & development|**31.3.23**<br>**£**<br>**3,434**<br>**31.3.23**<br>**£**<br>**367**<br>**31.3.23**<br>**£**<br>**929,226**<br>**352,099**<br>**55,230**<br>**288**<br>**2,498**<br>**10,665**<br>**-**<br>**1,350,006**|31.3.22<br>£<br>2,409<br>31.3.22<br>£<br>10<br>31.3.22<br>£<br>835,398<br>306,757<br>46,826<br>213<br>3,584<br>1,295<br>31,888|
|---|---|---|
|||1,225,961|



## **4. INVESTMENT INCOME** 

## **5. INCOME FROM CHARITABLE ACTIVITIES** 

## **6. CHARITABLE ACTIVITIES COSTS** 

|Coaching & development<br>**GRANTS PAYABLE**<br>Coaching & development|Direct<br>Costs<br>£<br>**1,310,719**|Grant<br>funding of<br>activities<br>(see note<br>7)<br>£<br>**762**|Support<br>costs (see<br>note 8)<br>£<br>**39,927**<br>**31.3.23**<br>**£**<br>**762**|Totals<br>£<br>**1,351,408**|
|---|---|---|---|---|
|||||31.3.22<br>£<br>2,569|



## **7. GRANTS PAYABLE** 

Page 18 

continued... 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **8. SUPPORT COSTS** 

|Governance<br>Management<br>costs<br>£<br>£<br>Coaching & development<br>**12,101**<br>**27,826**|Totals<br>£<br>**39,927**|
|---|---|



## **9. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||**31.3.23**|31.3.22|
|---|---|---|
||**£**|£|
|Auditors' remuneration|**5,400**|5,400|
|Depreciation - owned assets|**3,791**|4,928|



## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2023. 

## **Trustees' expenses** 

During the year trustees were reimbursed a total of £NIL (2022 - £NIL) by the Charity for various expenses such as travel, stationery, equipment and refreshments. Any expenses were properly incurred in connection with the Charity's activities. 

## **11. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Swimming coaches and teachers<br>Administration||**31.3.23**<br>**£**<br>**748,922**<br>**54,317**<br>**13,862**<br>**817,101**<br>**31.3.23**<br>**67**<br>**2**<br>**69**||31.3.22<br>£<br>728,506<br>40,309<br>13,525|
|---|---|---|---|---|
|||||782,340|
|||||31.3.22<br>65<br>2<br>67|



|The number of employees whose employee benefits (excluding employer pension costs) exceeded|The number of employees whose employee benefits (excluding employer pension costs) exceeded|£60,000 was:|
|---|---|---|
||**31.3.23**|31.3.22|
|£60,001 - £70,000|**1**|1|



Page 19 

continued... 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**Charitable activities**<br>Coaching & development<br>Investment income<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Coaching & development<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>fund<br>£<br>2,409<br>1,225,961<br>10<br>1,228,380<br>1,298,245<br>(69,865)<br>199,372<br>129,507|
|---|---|



## **13. TANGIBLE FIXED ASSETS** 

|Plant and<br>machinery<br>£<br>**COST**<br>At 1 April 2022<br>**30,622**<br>Additions<br>**3,725**<br>At 31 March 2023<br>**34,347**<br>**DEPRECIATION**<br>At 1 April 2022<br>**26,471**<br>Charge for year<br>**3,722**<br>At 31 March 2023<br>**30,193**<br>**NET BOOK VALUE**<br>At 31 March 2023<br>**4,154**<br>At 31 March 2022<br>4,151|Fixtures<br>and<br>fittings<br>£<br>**1,135**<br>**61**<br>**1,196**<br>**1,049**<br>**69**<br>**1,118**<br>**78**<br>86|Totals<br>£<br>**31,757**<br>**3,786**|
|---|---|---|
|||**35,543**|
|||**27,520**<br>**3,791**|
|||**31,311**|
|||**4,232**|
|||4,237|



Page 20 

continued... 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

|**14.**<br>**STOCKS**<br>Badges & vouchers stock<br>**15.**<br>**DEBTORS**<br>Amounts falling due within one year:<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>Amounts falling due after more than one year:<br>Other debtors<br>Aggregate amounts<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Deferred income<br>Accrued expenses<br>**17.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.4.22<br>£<br>**129,507**<br>**129,507**<br>Incoming<br>resources<br>£<br>**1,353,807**<br>**1,353,807**|**31.3.23**<br>**£**<br>**255**<br>**31.3.23**<br>**£**<br>**218,893**<br>**757**<br>**37,964**<br>**257,614**<br>**300**<br>**257,914**<br>**31.3.23**<br>**£**<br>**40,993**<br>**19,580**<br>**44,765**<br>**372,728**<br>**52,996**<br>**531,062**<br>Net<br>movement<br>in funds<br>£<br>**2,399**<br>**2,399**<br>Resources<br>expended<br>£<br>**(1,351,408)**<br>**(1,351,408)**|31.3.22<br>£<br>525<br>31.3.22<br>£<br>107,301<br>4,356<br>58,185<br>169,842<br>300<br>170,142<br>31.3.22<br>£<br>13,098<br>18,010<br>42,988<br>317,171<br>48,271<br>439,538<br>At<br>31.3.23<br>£<br>**131,906**<br>**131,906**<br>Movement<br>in funds<br>£<br>**2,399**<br>**2,399**|
|---|---|---|---|



Page 21 

continued... 



## **Guildford City Swimming Club** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **17. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>199,372<br>199,372|Net<br>movement<br>in funds<br>£<br>(69,865)<br>(69,865)|At<br>31.3.22<br>£<br>129,507|
|---|---|---|---|
||||129,507|



Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>1,228,380<br>1,228,380|Resources<br>expended<br>£<br>(1,298,245)<br>(1,298,245)|Movement<br>in funds<br>£<br>(69,865)|
|---|---|---|---|
||||(69,865)|



A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>199,372<br>199,372|Net<br>movement<br>in funds<br>£<br>(67,466)<br>(67,466)|At<br>31.3.23<br>£<br>131,906|
|---|---|---|---|
||||131,906|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>2,582,187<br>2,582,187|Resources<br>expended<br>£<br>(2,649,653)<br>(2,649,653)|Movement<br>in funds<br>£<br>(67,466)|
|---|---|---|---|
||||(67,466)|



Page 22 

continued... 



## **Guildford City Swimming Club** 

**Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **18. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2023. 

## **19. ULTIMATE CONTROLLING PARTY** 

There is no controlling party over the company. 

Page 23 



## **Guildford City Swimming Club** 

## **Detailed Statement of Financial Activities for the Year Ended 31 March 2023** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Gift aid<br>**Investment income**<br>Deposit account interest<br>**Charitable activities**<br>Membership/training fees<br>Coaching and development<br>GC Open meets<br>Other GC activities<br>Net commission from shop<br>Other membership income<br>CJRS Grant<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Coaching & teaching wages<br>Social security<br>Pension contributions<br>Sundries<br>Pool and training facilities<br>Administration wages<br>Social security<br>Coaches' passes<br>Relay team entries<br>Other gala expenses<br>Arena league final only<br>Coaches' expenses<br>Staff & Nationals kit costs<br>DBS/CRB checks<br>Land training<br>Staff education<br>Sports science<br>ASA fees (staff & officials)<br>Bad debts<br>Depreciation of tangible fixed assets<br>Grants to individuals<br>**Support costs**<br> **Management**<br>Insurance<br>Health insurance|31.3.23<br>£<br>**3,434**<br>**367**<br>**929,226**<br>**352,099**<br>**55,230**<br>**288**<br>**2,498**<br>**10,665**<br>**-**<br>**1,350,006**<br>**1,353,807**<br>**748,922**<br>**54,317**<br>**13,862**<br>**2,914**<br>**352,154**<br>**70,507**<br>**13,659**<br>**1,807**<br>**424**<br>**1,354**<br>**2,124**<br>**24,785**<br>**2,949**<br>**1,673**<br>**11,888**<br>**2,401**<br>**-**<br>**1,188**<br>**-**<br>**3,791**<br>**762**<br>**1,311,481**<br>**1,439**<br>**10,662**<br>**12,101**|31.3.22<br>£<br>2,409<br>10<br>835,398<br>306,757<br>46,826<br>213<br>3,584<br>1,295<br>31,888|
|---|---|---|
|||1,225,961|
|||1,228,380<br>728,506<br>40,309<br>13,525<br>2,705<br>345,307<br>64,257<br>13,000<br>854<br>56<br>970<br>1,872<br>10,813<br>223<br>2,214<br>12,462<br>2,408<br>200<br>1,201<br>4,412<br>4,928<br>2,569|
|||1,252,791<br>2,171<br>11,521|
|||13,692|



This page does not form part of the statutory financial statements 

Page 24 



## **Guildford City Swimming Club** 

## **Detailed Statement of Financial Activities for the Year Ended 31 March 2023** 

|**Management**<br> **Governance costs**<br>Auditors' remuneration<br>Postage and stationery<br>Accountancy and legal fees<br>Legal fees<br>Management team expenses<br>Computing & websites<br>Conference room hire<br>Welfare expenses<br>Bank charges<br>Banners & artwork<br>Telephones & misc office exps<br>Total resources expended<br>**Net income/(expenditure)**|31.3.23<br>£<br>**5,400**<br>**1,723**<br>**7,983**<br>**-**<br>**1,413**<br>**4,073**<br>**2,101**<br>**92**<br>**184**<br>**3,550**<br>**1,307**<br>**27,826**<br>**1,351,408**<br>**2,399**|31.3.22<br>£<br>5,400<br>954<br>7,494<br>6,442<br>1,871<br>3,615<br>1,142<br>893<br>62<br>2,596<br>1,293<br>31,762<br>1,298,245<br>(69,865)|
|---|---|---|



This page does not form part of the statutory financial statements 

Page 25