**CHARITY NUMBER: 1158739**
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2020**
**CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **INDEX**
|Trustees’ Report
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
|**Page**|
|---|---|
||
**No.**
1 - 3
4
5
6
7 - 12|
**CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **MANAGEMENT COMMITTEE’S REPORT FOR THE YEAR ENDED 31ST OCTOBER 2020**
The Management Committee presents its report along with the financial statements of the Charity for the year ended 31st October 2020. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the Charity’s Trust Deed and applicable law
## **Objectives and Activities**
The Objects of the Association are:
- To maintain and improve the Cirencester Open Air Swimming Pool for the benefit of the local community and the wider public.
- The promotion of good physical and mental health for the benefit of the local community and wider public
- To promote water-safety principles
- To protect the site and the original function of Cirencester Open Air Swimming Pool as part of local and national heritage.
To this end the Charity collects donations and grants towards improving the site and has started a major scheme of site improvements.
## **Public Benefit**
The Charity operates the swimming pool to improve the physical and mental health of the public in following the Charity Commission's guidance on public benefit.
## **Achievements and Performance**
The Trustees are pleased to report the swimming pool (now run by an operating company) was able to open for part of the summer with reduced attendances due to the Covid 19 Pandemic restrictions. The restrictions had a significant impact on attendances with income well down on previous years. The combined Operating Company and Charity results show a deficit of £11,249 for the year.
The Trustees were pleased to be able to open the facility and the feedback from users highlighted that the health benefits of swimming and relaxing in the open air continue to be valued by the local community and wider public particularly so during the pandemic.
During the year, the Charity identified a number of defects in the design and construction of the changing room building which was completed in 2016. Following action by the Charity lawyers and surveyors, the defects were resolved to the Trustees satisfaction.
## **Financial Review**
The Charity holds funds of £149,803 (Note 11) in bank accounts. The Trustees consider this to be adequate funding to plan for potential continuing restrictions relating to the Covid 19 Pandemic together with future planned site enhancements.
## **Reserves Policy**
Restricted funds of £674,950 have been donated for the specific purpose of the improvement scheme (Note 14), and the remaining funds are an unrestricted General fund amounting to £427,393.
## **Structure, Governance and Management**
The Charity is constituted as a Charitable Incorporated Organisation no. 1158739 under a Trust Deed registered 1st October 2014. New trustees are nominated at the Annual General Meeting and vetted by the committee before appointment.
## **Risk Management**
The Trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is reviewed at least annually. Systems or procedures have been established to mitigate the risks which the Charity faces. All risks fall into the low or medium categories. Internal control risks are minimised as the Trustees authorise all transactions and projects. Written procedures are in place to ensure the health and safety of staff, volunteers and visitors to our premises.
1
**CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO MANAGEMENT COMMITTEE AND ADVISERS FOR THE YEAR ENDED**
**31ST OCTOBER 2020**
## **Legal and Administrative Status**
The Cirencester Open Air Swimming Pool Association is a registered charity No. 1158739.
## **The Management Committee holding office during the year**
Ms J Leo (Chair) Mrs S Bond Mrs C Maggs (Vice Chairman) Mr M Athienites Mrs A Baker Mr P Jenkins Mrs V Wheeler Mrs S Plowman Mrs J Harrison Mr D Wright Mrs P Porter (resigned 9th January 2020)
Ms J Hale (appointed 9th December 2020) Ms G Mercier (appointed 9th December 2020) Mr I Sadler (appointed 9th December 2020)
## **Advisers** :
Banker
National Westminster Bank plc Market Place Cirencester Gloucestershire GL7 2NU
## Independent Examiner
Ruth Herbert FCCA 5 Gosditch Street Cirencester Gloucestershire GL7 2AG
Solicitors
Sewell Mullings Logie 7 Dollar Street Cirencester Gloucestershire GL7 2AS
## Registered Address
Chantilly House Baunton Lane Cirencester Gloucestershire
GL7 2LL
2
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO MANAGEMENT COMMITTEE’S REPORT (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2020**
## **Management Committee’s Responsibilities**
The Management Committee are responsible for preparing the Management Committee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Management Committee are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities 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 charity will continue in operation.
The Management Committee are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and reports) Regulations 2015 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
**Chairman – Ms J Leo**
**Date: 19th May 2021**
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## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF**
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31st October 2020, which are set out on pages 5 to 12.
## **Responsibilities and basis of report**
As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
**Ruth Herbert FCCA Fellow of Chartered Certified Accountants 5 Gosditch Street Cirencester Gloucestershire GL7 2AG**
## **Date: 3rd June 2021**
4
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2020**
|**INCOME FROM:**
**Donations, Legacies and**
**Charitable Activities**
Donations
Grants
Pool
Fund Raising
Other Income
**Interest**
**Total Income**
**EXPENDITURE ON:**
**Costs of Raising Funds**
**Charitable Activities**
**Other Support Costs**
**Total Expenditure**
**Net Movement on Funds**
**for the Year**
**Total Funds brought Forward**
**Fund Balance** carried forward at
31st October 2020|**Note**
**2020**
**2019**
**General**
**Restricted**
**Total**
**Total**
**Fund**
**Fund**
**Fund**
**Fund**
2 (a)
3,709
-
3,709
17,543
-
-
-
-
2
27,500
-
27,500
27,500
3
1,261
-
1,261
7,957
114,338
-
114,338
-
321
-
321
67
______
______
______
______
147,129
-
147,129
53,067
______
______
______
______
4
-
**-**
**-**
**-**
5
72,659
829
73,488
23,187
6
60,141
-
60,141
3,000
______
______
______
______
132,800
829
133,629
26,187
______
______
______
______
14,329
(829)
13,500
26,880
413,064
675,779
1,088,843 1,061,963
______
______
______
______
£ 427,393
£ 674,950
£ 1,102,343
£ 1,088,843
______
______
______
______|
|---|---|
5
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **BALANCE SHEET 31ST OCTOBER 2020**
|**Fixed Assets**
Tangible Fixed Assets
Investments
**Current Assets**
Debtors
Cash at Bank and in Hand
**Deduct**:Creditors
Net Current Assets
**Net Assets**
**Unrestricted Funds**
General
Restricted Funds|
**Note**
**2020**
**2019**
8
900,809
923,540
9
1
1
______
______
900,810
923,541
______
______
10
77,249
57,401
11
149,803
115,979
______
______
227,052
173,380
12
25,519
8,078
______
______
201,533
165,302
______
______
£ 1,102,343
£ 1,088,843
______
______
427,393
413,064
674,950
675,779
______
______
£ 1,102,343
£ 1,088,843
______
______|
|---|---|
Approved by the Management Committee on 19th May 2021 and signed on its behalf by Ms J Leo.
6
**CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2020**
## **Basis of accounting**
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) – (Charities SORP (FRS 102)). Cirencester Open Air Swimming Pool Association CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The Charity has applied Update Bulletin 2 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Reconciliation with previous Generally Accepted Accounting Practice.
## 1.
## **Accounting Policies**
## a) Income
All income is included in the Statement of Financial Activities in the year in which it is receivable.
## b) Expenditure
Resources expended are recognised in the year in which they are incurred.
## c) Fund Accounting
Unrestricted general funds comprise those funds which the committee members are free to use in accordance with the charitable objects. Designated funds are unrestricted funds earmarked by the Committee for particular purposes. Restricted Funds can only be used for the purposes identified.
## d) Depreciation
Depreciation is charged on a straight-line basis over 50 years on leasehold improvements, plants and machinery 10 years straight line.
## e) Concessionary Loans
Concessionary loans include those receivable and payable to a third party which are interest free or below market interest rates and are made to advance charitable purposes. These loans are initially measured at the amount received and recognised as a liability on the balance sheet.
## 2.
## **Activities in furtherance of the Charity’s Objects**
|**Activities in furtherance of the Charity’s Objects**|||
|---|---|---|
||**2020**|**2019**|
|Pool Commercial Exploitation Licence Fee|£27,500|£ 27,500|
||______|______|
7
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED** ) **FOR THE YEAR ENDED 31ST OCTOBER 2020**
|2 (a)
3.
4.
5.
6.|**2020**
**2019**
**Donations**
Other donations
£ 3,709
£ 17,543
______
______
**Activities for Generating Funds**
Fund Raising:
Events and book sales
£ 1,261
£ 7,957
______
______
**Costs of Raising Funds**
Fund Raising
£ -
£ -
______
______
**Charitable Activities**
Premises expenses 50,732 -
Insurance
-
391
Sundries
25
65
Depreciation
22,731
22,731
______
______
£ 73,488
£ 23,187
______
______
**Other support costs**
Examination Fee
2,100
3,000
Legal fees
58,041
-
______
______
£ 60,141
£ 3,000
______
______|**2019**|
|---|---|---|
8
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2020**
## 7. **Staff Costs and Trustees’ Remuneration**
There were no staff costs during the year.
Trustees received no remuneration in the year
Expenses reimbursed to Trustees during the year amounted to £nil.
## 8. **Fixed Assets**
|**Cost**
Brought Forward
Additions in year
**Depreciation**
Brought forward
Depreciation charge for year
Net book value at 31st October 2020
Net book value at 31st October 2019|**Leasehold**
**Improvements**
978,570
-
______
978,570
______
77,146
19,572
______
96,718
______
£ 881,852
______
£ 901,424
______|**Plants &**
**Machinery**
**Total**
31,593
1,010,163
-
-
______
______
31,593
1,010,163
______
______
9,477
86,623
3,159
22,731
______
______
12,636
109,354
______
______
£ 18,957
£ 900,809
______
______
£ 22,116
£ 923,540
______
______|**Total**|
|---|---|---|---|
9
**CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31ST OCTOBER 2020**
## 9. **Investments**
Cirencester Open Air Swimming Pool Ltd £ 1
A summary of the Financial Performance of the subsidiary alone is noted below:
|
10.
11.|**2020**
**2019**
**£**
**£**
Turnover
51,877
124,989
Cost of sales
(4,256)
(16,887)
Staff Costs
(13,218 )
(29,892)
Administration Expenses
(59,166)
(62,126)
Covenant to the Cirencester Open Air Swimming Pool
-
(16,000)
The aggregate of the assets, liabilities and funds is:
**2020**
**2019**
**£**
**£**
Assets
51,549
69,840
Liabilities
(72,939)
(66,481)
**Funds**
(21,390)
3,359
As a result of trading in 2020 the company covenanted profits of £ nil (2019: £16,000)
**Debtors**
**2020**
**2019**
Intercompany Balance
68,923
57,401
Prepayments 8,326 -
______
______
£ 77,249
£ 57,401
______
______
**Cash at Bank and in Hand**
Current Account – NatWest
106,022
71,544
Deposit Account – NatWest
-
811
Deposit Account – COIF
43,781
43,624
______
______
£ 149,803
£ 115,979
______
______|
|---|---|
10
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2020**
## 12. **Creditors: Amounts falling due**
## **within one year**
|**Creditors:Amounts falling due**
**within one year**|||
|---|---|---|
||**2020**|**2019**|
|Accruals|2,500|2,500|
|Taxation and Social Security|23,019|5,578|
||______|______|
||£ 25,519|£ 8,078|
||______|______|
## 13. **Lease**
Cirencester Open Air Swimming Pool Association CIO has a 125-year lease on the site running to 29th September 2139.
## 14. **Analysis of Net Assets by Fund**
|
**<-Unrestricted Funds->**
**General**
Fixed Assets
225,859
Investments
1
Debtors
77,249
Cash at bank
149,803
Creditors
(25,519)
______
£ 427,393
______|
**Total**
**Total**
**Restricted**
**2020**
**2019**
674,950
900,809
923,540
-
1
1
-
77,249
57,401
-
149,803
115,979
-
(25,519)
(8,078)
______
______
______
£ 674,950
£ 1,102,343
£ 1,088,843
______
______
______|
|---|---|
11
## **CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2020**
|15.
|**Funds**
**General**
Funds B/fwd
413,064
Surplus/(loss) for the year
14,329
Transfers
-
______
£ 427,393
______|**Total**
**Total**
**Restricted**
**2020**
**2019**
675,779
1,088,843
1,061,963
(829)
13,500
26,880
-
-
-
______
______
______
£ 674,950
£1,102,343
£ 1,088,843
______
______
______|**Total**
**2019**|
|---|---|---|---|
The designated reserve relates to funds earmarked for major improvements.
## 16. **Related Party Transactions**
During the year the Charity received £27,500 from its Subsidiary Company for a licence to exploit the swimming pool.
The Charity received a covenanted donation of £nil during the year from the Subsidiary Company.
At the yearend date it was owed by the Subsidiary Company £68,923 via an intercompany account repayable on demand.
12