2019-20 Annual report and accounts er.
Level Water
Contents of the Financial Statements
for the Year Ended 30 June 2020
| Chairman’s statement | 1 |
|---|---|
| Report of the trustees | 2 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of cash flows | 10 |
| Notes to the Financial Statements | 11 |
Stuart Rhodes – Chair of Trustees
2019-20 is our seventh year of operation. We have had great success in growing our fundraising and project delivery, helping almost 500 children and delivering up to 20,000 oneto-one lessons annually.
We are financially healthy and secure as we go into the COVID-19 pandemic, and confident that the charity will return strongly as the economy reopens.
Level Water.
We have finally completed our transition from “Keep Playing” to “Level Water”. We were originally founded under the name Keep Playing, but have always traded as Level Water, which occasionally caused confusion. The company, charity, and bank account are now all registered under the name Level Water.
Teacher development.
Supporting our teachers is the single biggest thing we can do to improve lesson quality. We have always been proud and supportive of our swimming teachers’ work, and now have a number of projects underway to help them be at their best.
Larger grants.
This year, we have begun to receive larger grants from key funding bodies. After a multi-year relationship we have now received £45,000 from St James’s Place Foundation. We have also received funding from the National Lottery and Garfield Weston Foundation as well as multiple local Community Foundations.
Innovation.
From March 2020, COVID-19 has shut down much of our fundraising and operations. We have lost the majority of our income and delivery during 2020 and can already see challenges ahead for 2021. Fortunately we are financially secure with healthy reserves and have a proven track record of innovation, piloting and creating new opportunities. We are confident about the charity’s financial security, and optimistic about our future.
Stuart Rhodes, Chairman
22 February 2021
Page 1
The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 30 June 2020 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
The chartable company’s name was changed by a special resolution on 6 November 2019 from Keep Playing to Level Water.
Activities and objectives.
Level Water provides free one-to-one swimming lessons for children with physical disabilities or sensory impairments. Disabled children are one-third as likely to play sport as their non-disabled peers. It can be unsafe and ineffective for them to learn in normal class sizes, so many of these children need additional attention and support to learn the basics.
Without one-to-one lessons, most disabled children will never learn to swim.
Our lessons provide a great start in sport for children who otherwise may not be able to access sport at all. We work with children until they develop water confidence, are safe in water and learn basic swimming strokes (roughly equivalent to Stage 4 of Swim England’s Learn to Swim Framework). From there they can join their non-disabled peers in mainstream or disability swimming lessons and progress into competitive clubs. This gives them lifetime access to sport.
We believe that we are tackling the biggest problem in sport. Here’s why:
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People with disabilities are the most under-represented group in sport
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By working with children, we can have the biggest long term impact
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The sport that children with disabilities most want to do is swimming
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By teaching the basics, we can give disabled children a lifetime of access to swimming
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Achievements and performance.
We ended the year operating at ninety pools Nationwide and have particularly grown in the North and North East. We are now providing up to 20,000 lessons per year, with 500 children swimming each week.
Larger grant funding partners.
We had another successful year of fundraising which covered our operations. We continue to have a good balance across event fundraisers, major donors, and grant funding. We have now built the scale, reputation and track record to win multi-year support from national charities, with grants up to £45,000 to complement smaller local grants. We have delivered projects funded by:
Comic Relief Peter Harrison Foundation The National Lottery Prince of Wales Charitable Foundation Trusthouse Foundation Jane Tomlinson Appeal London Community Foundation Cambridgeshire Community Foundation Sussex Community Foundation Quartet Community Foundation Hertfordshire Community Foundation Tees Valley Community Foundation Boost Charitable Trust Edward Gostling Foundation Boshier Hinton Foundation DM Thomas Foundation Summerfield Charitable Trust Lawson Trust Shanly Foundation ACT Foundation Thomas Cook Children’s Charity True Colours Trust Santander Community Foundation Tescos Bags for Help Coral Samuel Charitable Trust Woodroffe Benton Foundation Lillie C Johnson Charitable Trust Didymus CIO Barbour Foundation Norman Family Trust
St James’s Place Foundation Garfield Weston Foundation Goldsmiths Company Charity Ironmongers Company Wheelwright’s Company Worshipful Company of Basketmakers Morrisons Foundation Hedley Foundation M&G Foundation Bedford PE Old Students Association Simon Gibson Charitable Trust Zurich Community Trust Lawson Charitable Trust WO Charitable Foundation Ernest Kleinwort Charitable Trust Rowlands Trust Ireland Fund Clare Milne Trust Stratford Town Trust Barnwood Trust YBS Charitable Foundation Rothley Trust Johnnie Johnson Trust Cadbury Charitable Trust Pointer Family Charitable Trust Cambridge City Council Southend Borough Council David Brooke Charity Souter Charitable Trust Fowler Smith and Jones Trust Astor Foundation
Page 3
Financial review.
The total income for the year was £739,658 (2019: £681,652) and total expenditure amounted to £550,191 (2019: £563,330) resulting in net income of £189,467 (2019: £118,322) for the year.
At 30 June 2020 the free reserves of the charity were £265,875 (2019: £130,803).
Reserves Policy.
After reviewing our reserves policy during the year, our reserves target is between six and 18 months’ turnover.
Reference and administrative details:
Directors and trustees.
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:
S M Rhodes (Chairman) E Bracher (resigned 22 November 2019) M W Haslam G Jennings
Key management personnel serving in the year:
I Thwaites (Chief Executive Officer)
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Reference and administrative details. (continued)
TRADING NAME: Level Water CHARITY NUMBER: 1151510 COMPANY NUMBER: 08091814 (England and Wales)
REGISTERED OFFICE: Suite 5 33 Mount Ephraim Tunbridge Wells Kent, TN4 8AA
INDEPENDENT EXAMINER:
L W Woodhams FCCA TN6 Ltd Pine Grove Enterprise Centre Pine Grove Crowborough East Sussex, TN6 1DH
Structure, Governance and Management:
Governing document.
Level Water is a company limited by guarantee governed by its Memorandum and Articles of Association dated 1 June 2012. It is registered as a charity with the Charity Commission.
Appointment of trustees.
New trustees are appointed by existing trustees on the basis of skills and experience required.
Risk management.
The trustees have assessed the major risks to which the charitable company is exposed and are satisfied that systems are in place to mitigate exposure to these risks.
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Statement of trustees’ responsibilities.
Trustees’ responsibilities in relation to the financial statements: The charity trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
On behalf of the board:
S M Rhodes – Director and Chair of Trustees
Date: 22 February 2021
Page 6
On the accounts for the year ended 30 June 2020
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2020.
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.
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants (ACCA).
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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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
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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.
L W Woodhams FCCA TN6 Ltd Pine Grove Enterprise Centre Pine Grove, Crowborough East Sussex, TN6 1DH
Date: 22 February 2021
Page 7
Including Income and Expenditure Account for the Year Ended 30 June 2020
| Unrestricted funds Restricted funds 2020 Total |
2019 Total |
||
|---|---|---|---|
| Notes | £ | £ | |
| INCOME FROM: | |||
| Donations and legacies Grants Fundraising Total |
126,048 - 126,049 146,120 82,759 228,879 384,730 -384,730 656,898 82,759 739,658 |
264,883 79,594 337,175 |
|
| 681,652 | |||
| EXPENDITURE ON: | |||
| Raising funds 3 Charitable expenditure 3 Total |
120,172 - 120,172 401,655 28,364 430,019 521,827 28,364 550,191 |
77,356 485,974 |
|
| 563,330 | |||
| NET INCOME/ (EXPENDITURE) |
135,072 54,395 189,467 |
118,322 | |
| Total funds brought forward | 130,803 37,570 168,373 |
50,051 | |
| TOTAL FUNDS CARRIED FORWARD |
265,875 91,965 357,840 |
168,373 |
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As at 30 June 2020
| 2020 | 2019 | |
|---|---|---|
| Notes | £ | £ |
| CURRENT ASSETS | ||
| Debtors 5 Cash at bank |
121,813 315,938 437,751 |
131,463 137,596 |
| 269,059 | ||
| LIABILITIES | ||
| Creditors: Amounts falling due within one year 6 |
79,911 | 100,686 |
| NET CURRENT ASSETS | 357,840 | 168,373 |
| TOTAL NET ASSETS | 357,840 | 168,373 |
| THE FUNDS OF THE CHARITY | ||
| Unrestricted funds 7 Restricted income funds 7 |
265,875 91,965 |
130,803 37,570 |
| 357,840 | 168,373 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Trustees on 22 February 2021 and were signed on its behalf by:
S M Rhodes - Chair of Trustees
Page 9
for the Year Ended 30 June 2020
| 2020 | 2019 £ 56,686 - - 80,910 137,596 activities 118,322 (45,681) (15,955) 56,686 |
|
|---|---|---|
| Notes | £ | |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
||
| Net cash provided by operating activities | 178,342 | |
| CASH FLOWS FROM INVESTING ACTIVITIES |
||
| Net cash provided by investing activities | - | |
| CASH FLOWS FROM FINANCING ACTIVITIES |
||
| Net cash provided by financing activities Changes in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning ofthereporting period |
- 137,596 |
|
| Cash and cash equivalents at the end of the reporting period |
315,938 | |
| Reconciliation of net income to net cash flow from operating | ||
| Net income for the reporting period (as per the statement of financial activities) |
189,467 | |
| Adjustments for: (Increase)/decrease in debtors Increase/(decrease) in creditors |
9,650 (20,775) |
|
| Net cash provided by operating activities | 178,342 |
Page 10
for the Year Ended 30 June 2020
1. Statutory information.
Level Water is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company is registered as a charity with the Charity Commission of England and Wales.
2. Accounting policies.
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Level Water meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value.
Income
Charitable donations are recognised in upon receipt unless the donor expressly requests recognition on a particular date.
Gift aid tax recoverable is recognised on the date of the respective donation. Fundraising income is recognised on the date of the event taking place.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified asked to be solely used for particular areas of the Trust’s work or for specific artistic projects being undertaken by the charity.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is classified under the following activity headings:
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Raising funds which comprise costs of fundraising events.
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Charitable activities include the costs of providing swimming teaching and activities undertaken to further the purposes of the charity and their associated support costs.
Page 11
for the Year Ended 30 June 2020
2. Accounting policies (continued).
Taxation
The charity only undertakes charitable activities and is therefore not subject to any taxation.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Expenditure.
| EXPENDITURE ON: Raising funds Fundraising costs Charitable activities Provision of swimming lessons Insurance Accountancy Office and other support costs Travel expenses Marketing TOTAL EXPENDITURE . Staff costs. Wages and salaries Social security costs Employer pension costs Other staff costs TOTAL STAFF COSTS |
Unrestricted funds Restricted funds 120,172 - 356,483 28,364 5,359 - 3,973 - 15,265 - 5,854 - 14,721 - |
2020 Total 120,172 384,847 5,359 3,973 15,265 5,854 14,721 430,019 550,191 2020 175,756 19,314 8,715 713 204,498 |
2019 Total 77,356 460,326 2,138 3,353 9,188 5,973 4,996 |
|---|---|---|---|
| 401,655 28,364 |
485,974 | ||
| 521,827 **28,364 ** |
563,330 | ||
| 2019 171,238 14,394 8,715 1,181 195,528 |
4. Staff costs.
The average number of employees during the year was 4 (2019: 3). During the year, one member of staff had an annual salary of between £80,000 and £90,000 per annum.
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for the Year Ended 30 June 2020
5. Debtors: amounts falling due within one year.
| 2020 £ Accrued income 11,313 Prepayments 110,500 121,813 . Creditors: amounts falling due within one year. 2020 £ Deferred income 54,420 Accrued expenses 25,047 Taxation and social security - Other creditors 444 79,911 |
2019 £ - 131,463 |
|
|---|---|---|
| 131,463 | ||
| 2019 £ 55,627 40,927 3,910 222 |
||
| 100,686 |
6. Creditors: amounts falling due within one year.
7. Analysis of funds.
| Balance at 1 July 2019 Income Expenditure Balance at 30 June 2020 |
Unrestricted Restricted Total Staff Costs Swimming Lessons £ £ £ £ 130,803 - 37,570 168,373 656,899 7,658 75,101 739,658 (521,827) (7,658) (20,706) (550,091) |
|---|---|
| 265,875 - 91,965 357,840 |
The Staff Costs fund reflects income received to assist in the supply of suitably qualified project delivery personnel. The Swimming Lessons fund reflects income received for the provision of swimming lessons at particular locations.
8. Related party transactions.
No trustee received any remuneration or expenses in the year.
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