REGISTERED CHARITY NUMBER: 1151030
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
FOR
BOURNE OUTDOOR SWIMMING POOL
BOURNE OUTDOOR SWIMMING POOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 13 |
BOURNE OUTDOOR SWIMMING POOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees present their report with the financial statements of the Charitable Incorporated Organisation for the year ended 31 October 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
The objectives of the CIO are to provide swimming and associated facilities for the benefit of the inhabitants of Bourne and the surrounding area.
Public benefit reporting
When reviewing the CIO's objectives and activities, and in planning future activities, the trustees have considered the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The CIO continued to provide swimming facilities throughout the 2023 season. In addition to the main 50 yard heated pool, the CIO provides a toddlers pool, fountain pool, extended lawns with seating and picnic tables and a toddlers play area.
FINANCIAL REVIEW
The detailed statement of financial activities showed that during the period of the financial statements, the CIO had a deficit of expenditure greater than income of £6,233 (2022: excess £30,477).
Income from pool activities in 2023 decreased most probably due to the UK recording one of the warmest yet wettest years on record. Total income was £84,298 (2022: £105,040). Most notably general admissions totalled £59,826 (2022: £84,830) being a 35% decrease on the previous year. This decrease reflects an unusually wet period in July and August.
During the year donations of £4,417 (2022: £650) were received. All donations received were unrestricted being available for use in accordance with the charity's objectives at the discretion of the trustees.
The cost of resources expended totalled £90,531 (2022: £74,563). The main items of expenditure were light and heat £18,530 (2022: £15,168), wages £24,982 (2022: £23,773) and repairs and maintenance which totalled £11,929 (2022: £9,067) with the most significant items being £1,890 for repairs to windows, £1,617 for paint for the pool and £1,290 for works to the surrounding trees.
RESERVES POLICY
The trustees are aware that they need to maintain unrestricted free reserves at a level to provide sufficient funds to cover operating expenditure. The trustees consider that the CIO should maintain between three and six months of unrestricted free reserves. The current unrestricted free reserves of £182,439 (2022: £187,022) are more than sufficient to comply with this policy.
FUTURE PLANS
The pool will reopen for the 2024 season shortly. The trustees thank all volunteers who have helped to get the pool ready for re opening. The trustees hope for another hot summer to ensure high pool usage to generate high levels of income.
Whilst at present there are sufficient funds to secure the medium term future of the pool, unless attendances are maintained in the coming seasons at a satisfactory level, the longer term future of the pool will need to be carefully considered.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a constitution document dated 26 July 2018.
Recruitment and appointment of new trustees
The trustees may appoint a person who is willing to serve as a trustee on such terms as they may agree from time to time.
Page 1
DOURNE (XmOR SWIMMING POOL AEPORTC THE TRUSTEES FOR TNE YEAR ENDED 31 ocfoBER 21111 srAucfuK. GOVERNANceAND MANAGEMENT Th•tru5t•¢s shown bplry h•v¢ held •lfi¢e drIthewho1e of the perfod from l November Z021 to thedate ofthls rewrt.. Mts M l DeLglt)e-Smlth P11 C l Atln Mrs 8 H Smhh The trustees meet reeularty lo Make deEon5 reWlr¥ ¢0 thp QO. AM trnstets ve thdr tlme free and no remuneratknn or eywnseswerep•ld. dudlon Ind tr•lnlw of n•wtn4t• The Irilnin8 •nd Ind110Th provldtd for new trustees 11 depend cffj thelr exSstlni experl•nce. there nece551ry. Inductlon wlll b• Dn infomi•l basls. It betallored swclallyto the Indlvldual and 11 provwe tr•lnln8 on ch•rly, lryal ind flnanclal rnatters. ¢ru5t••s h¥è i duty to Idenlfy •nd revlew the dsks to whlch the CIO 15 exposed ènd to •n5ure approprlote control$ Ire In pl•¢e io provlde re•sonible èssur•nce •ialnst fr4ud and error, The tn15te•s contlnui to rnonltpr ind r¢W rlsks •nd InsJi•t¢ contrds thtyd¢¢m necess•ry to reduce these rlsks. RfFERE14CE AND ADM11115fiL4TNE NTAIiS 1151030 Prfndyl•ddM c(e$ Causewav Un¢olnshW PE109LN MJ 1n1.5M¢h P Rthll C l Atkln MrsBMSmth Hlndmarch 8Sc ACA rNtaN & Toplis Limited 14AII Sèlnts 51reet St•mford Uncolnshlr• PE9 2PA LI•$ Ba PLC 65 Hl6h Street Siamford Uncoln5hlre PE9 ZAT •proved byorl¢r olthe board of trustees on 29 Aprfl 2024 •nd s18ned on ftsbehalf by.. Mrs MJ Oelainfrsrnith. Truste• P*8e2
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BOURNE OUTDOOR SWIMMING POOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 6,712 Other trading activities 4 76,546 Investment income 5 1,040 Total 84,298 EXPENDITURE ON Raising funds 6 88,881 NET INCOME/(EXPENDITURE) (4,583) RECONCILIATION OF FUNDS Total funds brought forward 187,022 TOTAL FUNDS CARRIED FORWARD 182,439 |
Restricted funds £ - - - - 1,650 (1,650) 17,700 16,050 |
2023 Total funds £ 6,712 76,546 1,040 84,298 90,531 (6,233) 204,722 198,489 |
2022 Total funds £ 2,735 102,288 17 |
|---|---|---|---|
| 105,040 | |||
| 74,563 | |||
| 30,477 174,245 |
|||
| 204,722 |
The notes form part of these financial statements
Page 4
JI OCTIY•ER 2021 2023 Toial fvnd5 2022 Totil fvnds Tan£Sbleassets 12 83.314 %.524 cuftRÈNrASSETS Stpths Otbtttrs h4tbMk 620 1.166 97A02 620 1,225 iC6.408 14 1.166 99.108 IOJ.253 CAEWOAS 155 99.1 99.125 110,198 I,712 182.439 198. 2N.722 JNDS UnresiActedfunds 16 182A39 16JJ50 187.022 17,7(X+ TOTALFUNOS 198 204,712 The hnarKlal 5taterr•rt5 the lo•rd ol Trusthes •¥01¢d kn159Je on 29 4••rll 2024 ind on iti M J Danknh. Trwt¢¢
BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. STATUTORY INFORMATION
Bourne Outdoor Swimming Pool is a Charitable Incorporated Organisation whose principal office is in England.
The presentation currency of the financial statements is the Pound Sterling (£).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the CIO, 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 Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the CIO's accounting policies, management are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no critical accounting judgements or estimation uncertainty that, in the opinion of the trustees, will have a material effect on the financial statements.
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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 20 years Equipment - 20% on reducing balance and 10% on cost
Tangible fixed assets are held at cost less accumulated depreciation.
Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the CIO. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Debtors
Debtors are measured at their recoverable amount.
continued...
Page 6
BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
2. ACCOUNTING POLICIES - continued
Creditors
Creditors are measured at their settlement amount or in the case of provision for liabilities the best estimate of their settlement amount.
Government grants
Government grants are recognised when there is reasonable assurance that the grant will be received and any conditions attached will be complied with. Grants are recognised as income over the period necessary to match them with related costs or lost income, for which they are intended to compensate, on a systematic basis.
Financial instruments
The charity has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Notional donation | 2,295 | 2,085 |
| Donations and gift aid | 4,417 | 650 |
| 6,712 | 2,735 |
All donations received were unrestricted.
continued...
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BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
4. OTHER TRADING ACTIVITIES
| General admission Season tickets Fun nights Pool hire Schools Lockers and deckchairs Catering franchise Shop accessories 5. INVESTMENT INCOME Deposit account interest 6. RAISING FUNDS Raising donations and legacies Staff costs Rent, rates and water Light and heat Repairs and maintenance Chemicals Cleaning Swimming accessories Depreciation Loss on sale of assets Other trading activities Support costs Aggregate amounts |
2023 £ 59,826 904 3,659 5,847 90 213 1,625 4,382 76,546 2023 £ 1,040 2023 £ 24,982 1,499 18,530 11,929 6,160 761 5,107 12,278 34 81,280 2023 £ 9,251 90,531 |
2022 £ 84,830 - 4,029 7,055 - 364 1,400 4,610 |
2022 £ 84,830 - 4,029 7,055 - 364 1,400 4,610 |
|
|---|---|---|---|---|
| 102,288 | ||||
| 2022 £ 17 2022 £ 23,773 1,134 15,168 9,067 4,634 1,242 3,120 9,484 - |
||||
| 67,622 | ||||
| 2022 £ 6,941 74,563 |
continued...
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BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
7. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Other | costs | Totals | |
| £ | £ | £ | |
| Other trading activities | 6,956 | 2,295 | 9,251 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.
9. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Lifeguards No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,735 Other trading activities 102,288 Investment income 17 Total 105,040 EXPENDITURE ON Raising funds 72,913 NET INCOME/(EXPENDITURE) 32,127 RECONCILIATION OF FUNDS Total funds brought forward 154,895 TOTAL FUNDS CARRIED FORWARD 187,022 |
2023 8 Restricted funds £ - - - - 1,650 (1,650) 19,350 17,700 |
2022 8 Total funds £ 2,735 102,288 17 |
|---|---|---|
| 105,040 | ||
| 74,563 | ||
| 30,477 174,245 |
||
| 204,722 |
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
11. INDEPENDENT EXAMINERS REMUNERATION
Duncan & Toplis Ltd provide the charity with accountancy and independent examination services at no cost. The commercial fees for these services would have been £2,295 (2022: £2,085). These fees are included as notional income and notional expenditure in the income and expenditure account.
12. TANGIBLE FIXED ASSETS
| Improvements to property Equipment £ £ COST At 1 November 2022 118,423 31,896 Additions - 15,152 Disposals - (10,053) Reversal of impairments - 46,470 At 31 October 2023 118,423 83,465 DEPRECIATION At 1 November 2022 40,288 13,507 Charge for year 5,921 6,357 Eliminated on disposal - (10,019) Reversal of impairments - 46,470 At 31 October 2023 46,209 56,315 NET BOOK VALUE At 31 October 2023 72,214 27,150 At 31 October 2022 78,135 18,389 13. STOCKS 2023 £ Shop accessories and chemicals 620 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Prepayments and accrued income 1,166 |
Totals £ 150,319 15,152 (10,053) 46,470 |
Totals £ 150,319 15,152 (10,053) 46,470 |
|---|---|---|
| 201,888 | ||
| 53,795 12,278 (10,019) 46,470 |
||
| 102,524 | ||
| 99,364 | ||
| 96,524 | ||
| 2022 £ 620 |
||
| 2022 £ 1,225 |
continued...
Page 10
BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
| 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 16. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Boiler Pool resurfacing TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Boiler Pool resurfacing TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Boiler Pool resurfacing TOTAL FUNDS |
2023 2022 £ £ 15 40 48 15 63 55 Net At movement At 1.11.22 in funds 31.10.23 £ £ £ 187,022 (4,583) 182,439 6,000 (1,000) 5,000 11,700 (650) 11,050 17,700 (1,650) 16,050 204,722 (6,233) 198,489 Incoming Resources Movement resources expended in funds £ £ £ 84,298 (88,881) (4,583) - (1,000) (1,000) - (650) (650) - (1,650) (1,650) 84,298 (90,531) (6,233) Net At movement At 1.11.21 in funds 31.10.22 £ £ £ 154,895 32,127 187,022 7,000 (1,000) 6,000 12,350 (650) 11,700 19,350 (1,650) 17,700 174,245 30,477 204,722 |
2023 2022 £ £ 15 40 48 15 63 55 Net At movement At 1.11.22 in funds 31.10.23 £ £ £ 187,022 (4,583) 182,439 6,000 (1,000) 5,000 11,700 (650) 11,050 17,700 (1,650) 16,050 204,722 (6,233) 198,489 Incoming Resources Movement resources expended in funds £ £ £ 84,298 (88,881) (4,583) - (1,000) (1,000) - (650) (650) - (1,650) (1,650) 84,298 (90,531) (6,233) Net At movement At 1.11.21 in funds 31.10.22 £ £ £ 154,895 32,127 187,022 7,000 (1,000) 6,000 12,350 (650) 11,700 19,350 (1,650) 17,700 174,245 30,477 204,722 |
2022 £ 40 15 |
|---|---|---|---|
| 55 | |||
| 17,700 | |||
| 204,722 |
continued...
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BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 105,040 | (72,913) | 32,127 |
| Restricted funds | |||
| Boiler | - | (1,000) | (1,000) |
| Pool resurfacing | - | (650) | (650) |
| - | (1,650) | (1,650) | |
| TOTAL FUNDS | 105,040 | (74,563) | 30,477 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| At | movement | At | |
| 1.11.21 | in funds | 31.10.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 154,895 | 27,544 | 182,439 |
| Restricted funds | |||
| Boiler | 7,000 | (2,000) | 5,000 |
| Pool resurfacing | 12,350 | (1,300) | 11,050 |
| 19,350 | (3,300) | 16,050 | |
| TOTAL FUNDS | 174,245 | 24,244 | 198,489 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 189,338 | (161,794) | 27,544 |
| Restricted funds | |||
| Boiler | - | (2,000) | (2,000) |
| Pool resurfacing | - | (1,300) | (1,300) |
| - | (3,300) | (3,300) | |
| TOTAL FUNDS | 189,338 | (165,094) | 24,244 |
continued...
Page 12
BOURNE OUTDOOR SWIMMING POOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2023 nor for the year ended 31 October 2022.
18. ULTIMATE CONTROLLING PARTY
The CIO is controlled by the board of trustees.
19. FINANCIAL INSTRUMENTS
The CIO has the following financial instruments:
| The CIO has the following financial instruments: | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Financial liabilities measured at amortised cost | ||||
| Trade creditors | 15 | 40 |
The total interest income and interest expense for financial assets and financial liabilities that are not measured at fair value through the statement of financial activities was £1,040 (2022 - £17) and £nil (2022 - £nil) respectively.
Page 13