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← Cirencester Open Air Swimming Pool Association

2024-10-31-accounts

CHARITY NUMBER: 1158739

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024

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

MANAGEMENT COMMITTEE’S REPORT FOR THE YEAR ENDED 31ST OCTOBER 2024

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

The Management Committee presents its report along with the financial statements of the Charity for the year ended 31st October 2024 . 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 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 open again for a full summer season. The poor summer weather reduced attendances and the pool had a modest year. The combined Operating Company and Charity results show a surplus of £6,221 for the year.

The Trustees are pleased with the performance and the feedback from users confirmed that the health benefits of swimming and relaxing in the open air continue to be valued by the local community and wider public.

Financial Review

The Charity holds funds of £67,258 (Note 11) in bank accounts. The Trustees consider this to be adequate funding to plan for future planned site enhancements.

Reserves Policy

Restricted funds of £671,634 have been donated for the specific purpose of the improvement scheme (Note 14), and the remaining funds are an unrestricted General fund amounting to £528,747.

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.

The Trustees wish to thank Ian Sadler, David Wright and Sally Plowman who have resigned during the year. Their service and support has been much appreciated over the year.

The Trustees are currently reviewing the board structure and membership with a view to modernizing and simplifying the management of the Charity.

1

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO MANAGEMENT COMMITTEE AND ADVISERS FOR THE YEAR ENDED 31ST OCTOBER 2024

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.

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 Hale (Chair) Ms G Mercier Mrs C Maggs Mr M Athienites Mr P Jenkins Mrs S Bond Mrs S Plowman (resigned 26th February2025) Mrs J Harrison Mr D Wright (resigned 26th February 2025) MR I Sadler (resigned 1st June 2024)

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 2024

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:

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.

Treasurer – Mr P Jenkins

Date: 5th March 2025

3

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 2024 , 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: 14th March 2025

4

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024

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 2024		 Note
2024
2023
General
Restricted
Total
Total
Fund
Fund
Fund
Fund
2 (a)
2,310
-
2,310
32,846
-
-
-
-
2
27,500
-
27,500
27,500
3
3,144
-
3,144
3,262
-
-
-
-
2,379
-
2,379
1,772
__
_


35,333
-
35,333
65,380




4
-
-
-
-
5
25,014
829
25,843
25,907
6
1,950
-
1,950
1,900




26,964
829
27,793
27,807




8,369
(829)
7,540
37,573
520,378
672,463
1,192,841 1,155,268




£ 528,747
£ 671,634 £ 1,200,381
£ 1,192,841



___

5

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

BALANCE SHEET 31ST OCTOBER 2024

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
2024
2023
8
832,088
857,715
9
1
1
__
_
832,089
857,716


10
309,034
224,051
11
67,258
119,061


376,292
343,112
12
8,000
7,987


368,292
335,125


£ 1,200,381
£ 1,192,841


528,747
520,378
671,634
672,463


£ 1,200,381
£ 1,192,841

___

Approved by the Management Committee on 5th March 2025 and signed on its behalf by Mr P Jenkins.

6

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024

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
2024 2023
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 2024

2 (a)
3.
4.
5.
6.
 2024
2023
Donations
Other donations
£ 2,310
£ 32,846
__
_
Activities for Generating Funds
Fund Raising:
Events and book sales
£ 3,144
£3,262


Costs of Raising Funds
Fund Raising
£ -
£ -


Charitable Activities
Premises expenses - -
Advertising
-
64
Bank charges
216
216
Depreciation
25,627
25,627


£ 25,843
£ 25,907


Other support costs
Examination Fee
1,950
1,900
Legal fees
-
-


£ 1,950 £ 1,900

___

8

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2024

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 2024
Net book value at 31st October 2023		 Leasehold
Improvements
978,570
-
__
978,570
_
155,434
19,572

175,006

£ 803,564

£ 823,136
___		 Plants &
Machinery
Total
60,561
1,039,131
-
-
__
_
60,561
1,039,131


25,982
181,416
6,055
25,627


32,037
207,043


£ 28,524
£ 832,088


£ 34,579
£ 857,715

___

9

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED

31ST OCTOBER 2024

9. Investments

Cirencester Open Air Swimming Pool Ltd £ 1

A summary of the Financial Performance of the subsidiary alone is noted below:

10.

11.		 2024
2023
£
£
Turnover
193,069
208,598
Cost of sales
(28,458)
(23,491)
Staff Costs
(90,377) (70,267)
Administration Expenses
(75,463)
(93,998)
Covenant to the Cirencester Open Air Swimming Pool
(-)
(20,842)
The aggregate of the assets, liabilities and funds is:
2024
2023
£
£
Assets
318,459
236,875
Liabilities
(316,487) (233,584)
Funds
1,972
3,291
As a result of trading in 2024 the company covenanted profits of £nil (2023: £20,842)
Debtors
2024
2023
Intercompany Balance
309,034
224,051
Prepayments - -
__
_
£ 309,034
£ 224,051


Cash at Bank and in Hand20242023
Current Account – NatWest
19,123
73,305
Deposit Account – COIF
48,135
45,756


£ 67,258
£ 119,061

___

10

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED

31ST OCTOBER 2024

12. Creditors: Amounts falling due

within one year

Creditors:Amounts falling due
within one year
2024 2023
Accruals 2,500 2,500
Taxation and Social Security 5,500 5,487
______ ______
£ 8,000 £ 7,987
______ ______

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
160,445
Investments
1
Debtors
309,034
Cash at bank
67,258
Creditors
(8,000)
__
£ 528,747
____
Total
Total
Restricted
2024
2023
671,643
832,088
857,715
-
1
1
-
309,034
224,051
-
67,258
119,061
-
(8,000)
(7,987)
__
_

£ 671,643
£ 1,200,381
£ 1,192,841


___

11

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED

31ST OCTOBER 2024

15.



 Funds
General
Funds B/fwd
520,378
Surplus/(loss) for the year
8,369
Transfers
-
__
£ 528,747
____		 Total
Total
Restricted
2024
2023
672,463
1,192,841
1,155,268
(829)
7,540
37,573
-
-
-
__
_

£ 671,634
£ 1,200,381
£ 1,192,841


___		 Total
2023

The restricted reserve relates to 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 year end date it was owed by the Subsidiary Company £309,034 via an intercompany account repayable on demand.

12