Charltable Incorporated Orzanisation Number: 1156933 TEAMIPSWICH SWIMMING FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2022 Steven R Francls & Co Ltd Chartèred Certified Accountants Bury Lodge Bury Road Stowmarket Suffolk IP14 IJA TEAMIPSWICH SWIMMING FINANCIAL sfATEMENTS YEAR ENDED 31 AUGUST 2022 CONTENTS PAGE Trustees, report and statement of trustees. responsibilities Independent examinerfs report to the trustees Statement of financial activities Balance sheet Notes to the flnanclal statements TheAollowinq pages do notfvrm part ofthefinonclal statements Detalled statement of flnanclal acllvitles TEAMIPSWICH SWIMMING THE REPORT OF THE TRUSTEES YEAR ENDED 31 AUGUST 2022 The trustees have pleasure In presenting their report of the unaudited financial statements for the year ended 31 August 2022 Statement of trustees, ￿SpOnsIbIlItIeS The tru5tee5 are required by law to prepare financial statements for each financlal year whlch 8lve a true and fair view of the state of affairs of the charity at the end of the financial year and of the results of the year then ended. In preparing those financial statements, the trustees are required to select suitable accounting policie5, a5 described on page 5, and then apply them on a consistent basis. making judgements and estimates that are prudent and reasonable. The trustees must also prepare financial statements on the going concern basis unles5 it is inappropriate to presume that the charity will continue in business. The trustees are re5pon5ible for safeguardin8 the assets of the charity and hence taking reasonable steps for the preventlon and detectlon of fraud and other irregularities. The trustees confirm that they have met with these requirements. Approved by order of the board of trutees on ... . and signed on its behalf by.. G Scarff Treasurer Pa8e I TEAMIPSWICH SWIMMING INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 AUGUST 2022 I report on the accounts for the charity for the year ended 31 Au8USt 2022, set out on pa8es 3 to 6. RespectSve responslbilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audSt is not requlred for this year under sectlon 144 of the Charitles Act 2011 (the Charities Actl and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of thè Charities Art to follow procedures lald down In the 8eneral dlrectlons 8lven by the Charlty Commlssion under section 145151 Ibl of the Charities Act, and to state whether particular matter5 have come to my attentlon Basls of the Independent examlner's report My examlnailon was carrled out In accordance wlth the 8eneral dlrect5ons 8iven by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those ￿CordS. It also includes consideration of any unusual Items or disclosures in the accounts, seeking explanaiions from the trustees concerning any such matter5. The procedure5 undertaken do not provide all the evidence that would be required In an audit and consequently no opinion is 8iven as to whether the accounts present a 'true and fair, view and the report Is Ilmlted to those matters set out In the statement below. Independent èxamln*ls ststement In connection with my examinatlon, no matter has come to my attentlon: 111 which gives me reasonable cause to believe that, In any material respect, the requlrement5'. to keep atcountln8 records in accordance wlth section 130 of the Charities Act.. to prepare accounts In accordance wlth the accounting records and comply with the requlrements of the Charities Act have not been met: or 121 to which in my oplnlon, attentlon should be drawn In order to enable a propef under5tandin8 of the accounts to be reached. Steven R Franci5 & Co Ltd Bury Lodge Bury Road Stowmarket Suffolk Date IP14 IJA Page 2 TEAMIPSWICH SWIMMING sTATEmE￿r OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2022 2022 2021 Note INCOME 226.170 131,726 Cost of 8eneratin8 income 211.462 135,310 Administrative expenses 38,507 26,912 other operatSng Income 4,521 16,935 NET INCOME FOR THE YEAR 119.2781 113.5611 RECONCILIATION OF FUNDS Total funds brought forward 78,266 91,827 Total funds carried forward 58,988 78,266 Page 3 TEAMIPSWICH SWIMMING BALANCE SHEET YEAR ENDED 31 AUGUST 2022 Note 2022 2021 FIXED ASSETS Tangible asset5 12,353 14.557 CURRENT ASSETS Debtors Cash at bank and in hand 35,127 72,802 107,929 29,844 111,737 141,581 CREDITORS: Amounts falllng due wlthln one year Creditors 61.294 77.872 NEf CURRENT ASSETS 46,635 63,709 TOTAL ASSET5 LE55 CURRENT UABILITIES 58,988 78,266 CAPITAL AND RESERVES Surplus funds 58,988 78,266 Page 4 TEAMIPSWICH SWIMMING NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2022 I. ACCOUNTING POLICIES Basi5 of preparation The financial 5tatement5 have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards. Income All income is reco8nised in the statement of financial activities once the charity has entitlement to the funds. Tan8lble Ilxed assets Depreciation is provided at the followlng annual rates In order to wrlte off each a55et over It5 estimated useful life. Equipment Computer equipment - 10%120% on cost - 33% on cost I. TANGIBLE ASSETS Equlpment COST At I September 2021 Additions At 31 August 2022 16,530 16,530 DEPRECIATION At I September 2021 Charge for the year At 31 August 2022 1,973 2,204 4,177 NEf BOOK VALUE At 31 Au8ust 2021 14,557 At 31 August 2022 12,353 DE8TOR5 2022 2021 Dèbtors Other debtors and prepayments 17.075 18,052 10.621 19,223 35,127 29,844 Page 5 TEAMIPSWICH SWIMMING NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2022 4. CREDITORS: Amounts falling due within one year 2022 2021 Creditors Payments on account Accruals and deferred income 245 1.136 59,913 2.179 75,693 61.294 77,872 Page 6 TEAMIPSWICH SWIMMING MANAGEMENT INFORMATION FOR YEAR ENDED 31 AUGUST 2022 The followin8 page5 do not form part of the statutory flnanclal statements Page 7 TEAMIPSWICH SWIMMING DEfAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2022 2022 2021 INCOME SqLtad fees Swim school Water polo income Gala income Membershlp fees Swlm shop income 97,410 71,277 10,830 29,442 14,634 2.5n 81,202 28,686 7,275 14,104 459 226,170 131,726 COSTS OF GÉNERATING INCOME Coaching fee5 Pool hire and land trainin8 Gala costs Water polo league and competitlon c05t5 Swim shop expenses 104,362 97,113 8,224 80,9)2 54,061 30 317 1,723 211.462 14,708 6.5% 135,310 3,584 .2.7% GROSS SURPLUS OTHER INCOME Grants received Other income Donations/sponsorship Giftaid Interest received 817 472 1.481 1.699 52 6,793 183 6,476 3,403 80 4.521 16,935 OVERHEA05 Away meet costs General 8ala costs Insurance Advertising Equipment repairs and renewals Certs expenses CRB and DBS Checks Computer expenses Subscriptions Administration expenses Accountancv Depreciation 7,728 481 627 158 748 1.197 96 230 275 2.008 23.291 719 1,207 22.219 2,204 1,031 38,507 26,912 NET DEFICITISURPLUS £ 119,2781 £ 113.5611 Page 8