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2025-10-31-accounts

CHARITY NUMBER: 1158739

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2025

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 2025

The Management Committee presents its report along with the financial statements of the Charity for the year ended 31st October 2025 . 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 (run by an operating company Cirencester Open Air Swimming Pool Ltd) was open for a full summer season. The good summer weather helped attendances and generated record revenues. However, costs were high and in particular repair work on the pool walls and refurbishment of the filtration tank together with costs for the new website and booking system led to a significant overall loss for the year. The repair work cost nearly £80,000 but is expected to provide many years of service.

The combined Operating Company and Charity results show a loss of £69,425 for the year.

Despite the loss, the Trustees are happy 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 £131,453 (Note 11) in bank accounts. The Trustees consider this to be adequate funding to plan for future planned site enhancements and plant maintenance.

Reserves Policy

The purpose of this policy is to ensure that Cirencester Open Air Swimming Pool maintains adequate financial reserves to safeguard the charity’s operations, manage seasonal cash flow, and provide for future capital investment in the pool’s infrastructure, particularly the ageing plant and filtration systems. The policy also ensures that the charity is financially prepared to meet its obligations in the event of a planned or unplanned winding down of operations.

The Trustees have agreed that reserves should be maintained at a level sufficient to: Cover six months of average operating costs (including staffing, utilities, insurance, and maintenance).

Provide a capital contingency fund for urgent plant room or pool repairs. Provide working capital to cover cash flow variations before seasonal income begins. Ensure the charity can meet all obligations in the event of a wind-down.

The overall target cash reserve requirement is around £350,000 and the Charity and its subsidiary currently hold £340,000.

1

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO MANAGEMENT COMMITTEE AND ADVISERS FOR THE YEAR ENDED 31ST OCTOBER 2025

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 Cathy Maggs, David Wright and Sally Plowman who have resigned during the year. Their service and support has been much appreciated over the years.

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

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 (Resigned 21st October 2025) Mr M Athienites Mr P Jenkins Mrs S Bond Mrs J Harrison Mrs S Plowman (Resigned 26th February 2025) Mr D Wright (Resigned 26th February 2025)

Advisers :

Banker

National Westminster Bank plc Market Place Cirencester Gloucestershire GL7 2NU

Ruth Herbert FCCA Watermoor Point Watermoor Road Cirencester GL7 1LF

Independent Examiner

Wenn Townsend Chartered Accountants

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 2025

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: 2nd February 2026

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 2025, 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 Watermoor Point Watermoor Road Cirencester GL7 1LF

Date: 2nd February 2026

4

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2025

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
Transfer between funds
Fund Balance carried forward at
31st October 2025		 Note
2025
2024
General
Restricted
Total
Total
Fund
Fund
Fund
Fund
2 (a)
1,885
-
1,885
2,310
-
-
-
-
2
27,500
-
27,500
27,500
3
2,340
-
2,340
3,144
-
-
-
-
2,416
-
2,416
2,379
__
_


34,141
-
34,141
35,333




4
-
-
-
-
5
25,843
-
25,843
25,843
6
6,624
-
6,624
1,950




32,467
-
32,467
27,793




1,674
(-)
1,674
7,540
528,747
671,634
1,200,381 1,192,841
671,634 (671,634) - -




£ 1,202,055
£ -
£ 1,202,055 £ 1,200,381



___

5

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

BALANCE SHEET 31ST OCTOBER 2025

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
2025
2024
8
806,461
832,088
9
1
1
__
_
806,462
832,089


10
272,140
309,034
11
131,453
67,258


403,593
376,292
12
8,000
8,000


395,593
368,292


£ 1,202,055
£ 1,200,381


1,202,055
528,747
-
671,634


£ 1,202,055
£ 1,200,381

___

Approved by the Management Committee on 2nd February 2026 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 2025

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
2025 2024
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 2025

2 (a)
3.
4.
5.
6.
 2025
2024
Donations
Other donations
£ 1,885
£ 2,310
__
_
Activities for Generating Funds
Fund Raising:
Events and book sales
£ 2,340
£3,144


Costs of Raising Funds
Fund Raising
£ -
£ -


Charitable Activities
Premises expenses - -
Advertising
-
-
Bank charges
216
2166
Depreciation
25,627
25,627


£ 25,843
£ 25,843


Other support costs
Examination Fee
1,950
1,950
Legal fees
4,674
4,674


£ 6,624 £ 6,624

___

8

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST OCTOBER 2025

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 2025
Net book value at 31st October 2024		 Leasehold
Improvements
978,570
-
__
978,570
_
175,006
19,572

194,578

£ 783,992

£ 803,564
___		 Plants &
Machinery
Total
60,561
1,039,131
-
-
__
_
60,561
1,039,131


32,037
207,043
6,055
25,627


38,092
232,670


£ 22,469
£ 806,461


£ 28,524
£ 832,088

___

9

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

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

31ST OCTOBER 2025

9. Investments

10.

11.		 Cirencester Open Air Swimming Pool Ltd
£ 1
A summary of the Financial Performance of the subsidiary alone is noted below:
2025
2024
£
£
Turnover
216,756
193,069
Cost of sales
(24,532)
(28,458)
Staff Costs
(112,872) (90,377)
Administration Expenses
(150,756)
(75,463)
Covenant to the Cirencester Open Air Swimming Pool
(-)
(-)
The aggregate of the assets, liabilities and funds is:
2025
2024
£
£
Assets
209,861
318,459
Liabilities
(274,988) (316,487)
Funds
(69,127)
1,972
As a result of trading in 2025 the company covenanted profits of £nil (2024: £nil)
Debtors
2025
2024
Intercompany Balance
272,140
309,034
Prepayments - -
__
_
£ 272,140
£ 309,034


Cash at Bank and in Hand20252024
Current Account – NatWest
25,563
19,123
Deposit Account – COIF
105,890
48,135


£ 131,453
£ 67,258

___

10

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

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

31ST OCTOBER 2025

12. Creditors: Amounts falling due within one year

Creditors:Amounts falling due
within one year
2025 2024
Accruals 2,500 2,500
Taxation and Social Security 5,000 5,500
______ ______
£ 8,000 £ 8,000
______ ______

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
806,461
Investments
1
Debtors
378,030
Cash at bank
25,563
Creditors
(8,000)
__
£ 1,202,055
____
Total
Total
Restricted
2025
2024
-
806,461
832,088
-
1
1
-
378,030
309,034
-
25,563
67,258
-
(8,000)
(8,000)
__
_

£ -
£ 1,202,055
£ 1,200,381


___

11

CIRENCESTER OPEN AIR SWIMMING POOL ASSOCIATION CIO

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

31ST OCTOBER 2025

15.



 Funds
General
Funds B/fwd
528,747
Surplus/(loss) for the year
1,674
Transfers
671,634
__
£ 1,202,055
____		 Total
Total
Restricted
2025
2024
671,634
1,200,381
1,200,381
-
1,674
7,540
(671,634)
-
-
__
_

£ -
£ 1,202,055
£ 1,200,381


___		 Total
2024

The restricted fund relates to restrictions requested by The Winstone Charitable Trust which were eventually never implemented hence the removal of the restriction.

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 £272,140 via an intercompany account repayable on demand.

12