Charity registration number 1160663 (England and Wales) Company registratlon number 06548736 THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B C Morgan Mr M R Henley Mr G P Kibblewhite Mr P J Maclaren Mrs J Kendall MrsA J Broadbent Mr T P Mlmnagh Mr R M Udall (Appointed 14 January 2025) Secretary Mr B C Morgan Charlty number 1160663 Company number 06548736 Day to day management MrA Massey Reglstered office Weir Lane Lower Wick Worcester WR2 4AY Independent examiner Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Bankers HSBC Bank PIC 6 Broad Street Worcester VVR12EJ Sollcltors Thursfi@Ids Solicitors 42 Foregate Street Worcester WR1 IEF
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION CONTENTS Page Trustee8' report Independent examiner's report Statement of fjnancial activities Balance sheet Slatement of cash flows Notes to the financlal statements 8-18
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The twstees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set OLrt in note 1 to the financial statements and comply wth the Charttvs Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporknng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)" Objectives and activltles The Charity's objects are that of providing leisure facilities. The polides adopted in furtherance of these objects are providing leisure facilities for public use and these have continued during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charily should undertake. Achlevements and performance Income from swimming pool sources has increased by 10.71/10 to £693,128 and the surplus from the studio has increased by £10,074 to £37,337. All aspects of the pool performance have Improved over the year and the trustees would like to give their thanks to the staff for their substantial support in achieving this. Public swims continue to Increase and we continue to monitor numbers in an effort to ensure that customers have Ihe easiest access to the pool but without any overcrowding. Swimming lessons continue as a success story wtth nearly 1,000 customers taking lessons. Again our thanks to staff for their work in making changes to timetabling enabling more swimmers to experience our excellent lessons. The Fitness Studio continues to perform well with an increase in income of £10,880 resultlng In an increase In the surplus of£10,074. Flnancial review Our net surplus has improved from £88,519 to £138,024 an increase of £49,505 of which the tTU8tees are most pleased. However we are aware of the dangers of becoming complacent. Our overheads have increased by 14.90A from £541,524 to £621.962. With the increase in employers, National Insurance this year with that of minimum wage the trustees will continue to monitor the situation as regards price increases. Totsl reserves are £682,130 (2024 - £544,106) of this £77,426 is restricted (2024 - £82,352) and £76,312 (2024 - £18,611) designated. The designated funds wlll be used to continue the programme of facility enhancement. The remaining £528,392 is unrestricted and of this amount £178,556 (2024 - £184,406) is represented by tangible fixed assets net of associated loan funding leaving £349,836 (2024- £258,737) as readily available reserves. This is within the preferred level of bee@n three and six months overheads, and the trustees are satisfied that this will enable theAssociation to carry out the objecttves of the charity. The tnjstees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structurey governance and management The Charity is a company limited by guarantee and is govemed by its Memorandum and Articles ofAssociatlon and is reglstered with the Charity Commission, Charity Registration No 1160663, The trustees, who are 8180 the directors for the Purpose of company law, and who Seed during the year and up to the date of signature of the financial statements were: Mr B C Morgan Mr M R Henley Mr G P Kibblewhite Mr P J Maclaren Mrs J Kendall Mrs A J Broadbent Mr T P Mimnagh Mr R M Udall (Appointed 14 January 2025) The Board have the statutory power to appoint new trustees under the terms of the Trust Deed and provide the necessary training in order that they may fulfil their obligations as Trustees. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Charity is governed by the Board of Trustees which is responslble for formulating the strategies and policies of the Charity including the approval of budgets and the exercising of financial controls. Day to day rnanagement is delegated to and performed by the pool manager This report has been prepared in accordance with the special provisTons relating Éo small companies within Part 15 of the Companies Act 2006. The Trus ees, report was approved by the Board of Trustees. MrBCM Trustee Dated". 14 Octo er 2025
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION I report to the trustees on my examination of the financial statements of The Worcester Citizens sMmIng Bath Association (the Charity) for the year ended 31 March 2025. Responslblllties and basis of report As the trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Havlng satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity's financial ststements carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the Charities Act 2011. Independent examinerfs ststement Since the Charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed In section 145 of the Charities Act 2011. I confirm that l am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the Charity as required by section 388 of the Companies Act 2006. the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparlng their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I hav cerns and have come across no other matters in connection with the examination to which attention wn in this report in order to enable a proper understanding of the financial statements to be reached. Elizabeth Needham ACA CTA (VAT) Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated.. 14 October 2025
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restrlcted funds funds 2026 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from" Donations and legacies Charitable activities Investments 59,000 59,000 693,128 7,858 693,128 7,858 626,124 3,919 626,124 3,919 Total Income 700,986 59,000 759,986 630,043 630,043 Expendlture on: Charitable activities 617,036 4.926 621,962 536,132 5,392 541,524 Total expenditure 617,036 4,926 621,962 536,132 5,392 541,524 Net income 83,950 54.074 138,024 93,911 (5.392) 88,519 Transfers bekneen funds 12 59,000 (59,000) Net movement in funds 142,950 (4,926) 138,024 93,911 (5,392) 88,519 Reconclllatlon of funds: Fund balances at 1 April 2024 461.754 82,352 544,106 367,843 87,744 455,587 Fund balances at 31 March 2025 604,704 77,426 682,130 461,754 82,352 544,106 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 13 401,330 365,254 Current assets Stocks Debtors Investments Cash at bank and in hand 14 15 16 6,599 22,650 155,000 221.780 5,549 9,216 100,000 199,555 406,029 314,320 Credltors: amounts falling du& wÉthin one year 17 {45,699) (41.450) Net current assets 360,330 272,870 Totsl assets less current Ilabllltles 761.660 838,124 Credltors: amounts falllng due after more than one year (79,530> (94,018) Net assets 682,130 544,106 Income funds Restricted fvnds 20 77,426 82,352 Designated funds General unrestricted funds 21 76,312 528,392 18,611 443,143 604,704 461,754 682.130 544,106
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION BALANCE SHEET (CONTINUED) AS AT31 MARCH 2025 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for Gomplying wth the requirements of the Companles Act 2006 wtth respect to accounting records and the preparation of financial statements. Th8 members have not required the company to obtain an audit of its financial statements for the year in question in accordance wlth section 476. These financial statements have been prepared in accordance wÉth the provisions applicable to comparries subject to th& small companies regime. The finan statements were approved by the Trustees on 14 October 2025 Mr B C Morgan Truste8 Company Reglstratlon No. 06548736
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng aetivltles Cash generated from operations 25 147,122 112.296 Investlng actlvltles Purchase of tangible fixed assets Purchase of investments Investment inGome received (62,800) (55,000) 6,921 (11,183) ifj 00,000) 2,878 Net cash used in inv8Sting activitles (110,879) (108,305) Flnanclng actlvltles Repayment of bOowingS Repayment of bank loans (3,921) (10,097) (3,706) (9,845) Net cash used In financlng actlvltles (14,018) (13,551) Net increaseJ(de¢rease) In cash and cash equlvalents 22,225 (9,560) Cash and cash equivalents at beginning of year 199,555 209,115 Cash and cash equivalents at end of year 221,780 199,555
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charity infomiation The Worcester Citizens Swimming Bath Association is a prtvate company limited by guarantee incorporated in England and Wales. The registered office is Weir Lane, Lower Wick, Worcester, WR2 4AY. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparrng their accoLSnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)" The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting p0claS adopted are set out below, 1.2 Golng concern At the time of approving the financial statements. the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trLtstees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds are unrestricted funds eamiarked by the Management Committee for particular purposes. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be recelved. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and Sel¢e$ provided in the normal course of activities. 1.5 Expendlture Expenditure is re¢ognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligatlon can be measured reliably. Expendlture is classified by activity. The costs of each activity are made up of the total of dIt costs and shared costs, including support costs Involved in undertaidng each activity. Direct costs attrEbutable to a single activity are allocated directly to that activity.
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles {Contlnued) Direct charitable expendlture consists of all expenditure directly relating to the objects of the Association. Expendlture is recognised on an accruals basis. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the Charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measurèd at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Swlmming pool & building Fixtures, fittings & equipment 2.5 %1401011 OQA stralght line basis 250/0 straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of flxed assets Al each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset 18 estimated in order to determine the extent of the Impalrment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and net realisable value. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-temi liquid investments wlth original maturities of three months or less. Cash placed on long temi deposit is treated as a current asset investmenL 1.10 Flnanclal Instruments The Charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Flnancial Instruments Issues, of FRS 102 to all of its finsncial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is 8 legally enforable right to set off the recognised amounts and there is an intention to settle on a net basis or to re81ise the asset and settle the liability simult8neously. Baslc flnaneial assets Basic financial assets, which indude debtors and cash and bank balances, are initl8lly measured at transaction price including transaction costs and are subsequently carried at amortised. Financial assets classified as receivable within one year are not amortised.
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) Basic financial liabillties Basic financial liabilities, including creditors are initially recognised at transaction prlce unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of intere8t. Financial liabilities classified as payable within one year are not amortised. Trade credltors are obligations to pay for goods or servlces that have been acqulred in the ordin¥y course of operatlons from suppllers. Amounts payable are classified as current liabilitles if payment is due withln one year or less. If not, they are presented as non-current liabilities. Trade credltors are recognised Initlally at transaclion pri and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognlsed when the Charity's Contractu obligations expire or are discharged or cantslled. 1.11 Employee beneffts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediateEy as an expense when the Charity is demonstrably committed to termlnate the employment of an employee or to provide temilnation benefits. 1.12 Retlrement beneflts The Charity operates a defined contributions pension scheme. Payments to defined contrlbution retirement benefit schemes are charged as an expense as they fall due. Contributions for the year amounted to £8,332 (2024 - £5,697).The assets of the scheme are held separately from those of the Chanly in an independently administered fund. other contrlbutlons are made to the personal pension arrangements of certain staff. Crftlcal accountlng estlmates and Judgements In the application of the Charity's accounting policies, the trustees are required to make judgements, estimates and assumptlons about the canying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Aotual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects ClY that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Restricted funds 2025 Restrlcted fund8 2024 Grants 59.000 10-
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable activities Leisure facilities 2025 Leisure facllltles 2024 Sales within charitable activities Fitness studio Fitness studio expenditure 655,791 59,459 (22,122) 598,861 48,599 (21,336} 693,128 626,124 Income from Investments Unrestrlcted Unrestrtcted funds funds 2025 2024 Interest receivable 7,858 3,919 11
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitabl8 activities Total 2025 Totsl 2024 staff costs Depreciation and impairment Water rates Insurance Light and heat 435,293 26,724 13,938 21,083 48.990 376,913 28,188 18,595 20,216 38,051 F il Repairs and maintenance Advertising and office supplies Telephone Sundry expenses SubsGriptions Pool running expenses Bank charges Other interest paid Staff training 18,583 3,543 3,527 1,891 4,950 20,606 8,736 3,781 4,631 16,688 4,675 2,800 1,000 5,627 13,220 4,091 4,248 4,704 616,274 537,016 Share of governance costs (see note 7) 5,688 4,508 621,962 541,524 Analysls by fund Unrestricted funds - general Restricted funds 617,036 4,926 538,132 5,392 621,962 541,524 Governance costs allocated to activities 2025 2024 Governance costs 5.688 4,508 Analysed between: Operation of pool and facllities 5,688 4,508 Included in governance costs is £800 in respect of Independent Examination fees (2024- £750), together with £3,650 {2024 - £3,300) in connection with the preparation of the statutory accounts. Trustees None of the trustees (or any persons connected with them) received any remuneration, expenses or benefits from the Charity during the year. 12-
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Pool Staff Administration 36 37 Total 38 39 Employment costs 2026 2024 Wages and salaries Social security costs Other pension costs 403,051 21,110 11,132 347,767 20,649 8,497 435,293 376,913 During the year key personnel remuneration was £85,880 (2024 - £84,543) There were no employees whose annual remuneration was more than £80,000. l O Retirement benefit schemes 2025 2024 Defined contrlbutlon schemes Ch8rge to profit or loss in respect of defined contribution schemes 11,132 8,497 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 11 Taxation The charity is exempt from taxation on its activities because all its Income Is applied for charitsble purposes. 12 Transfers A grant of £59,000 was received towards the installation of solar panels, the project was completed and a transfer has been made from restricted funds to unrestricted - designated funds to reflect this. 13-
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Tangible fixed assets Swlmmlng pool & bulldlng Flxtuyes, fittings & equlpment Total Cost At l April 2024 Additions 721,570 62,800 135,454 857,024 62,800 At 31 March 2025 784,370 135,454 919,824 Depreclatlon and Impairment At 1 April 2024 Depreciation charged in the year 357.745 26,210 134.025 514 491,770 26,724 At 31 March 2025 383,955 134,539 518,494 Carrylng amount At 31 March 2025 400,415 915 401,330 At 31 March 2024 363,825 1,429 365,254 14 Stocks 2025 2024 Goods held for resale and consumables 6,599 5,549 15 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 10,943 5,000 6,707 5,676 3,540 22,650 9,218 16 Current asset Investmepts 2025 2024 Cash on long term deposit 155,000 100,000 14-
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Credltors: amounts falllng due wlthln one year 2025 2024 Notes Bank loans other borrowings Other taxation and social security Trade creditors Other creditors Accruals and deferred income 19 10,354 11,287 6,299 5,261 89 12,409 10,099 11,072 5,742 3,453 11,084 45,699 41,450 18 Credltorn: amounts falling due after more than one year 2025 2024 Notes Bank loans Other borrowings 19 6.162 73,368 16,514 77,504 79,530 94.018 19 Loans and overdrafts 202S 2024 Bank loans Other loans 16,516 84,655 26,613 88,576 101,171 115,189 Payable w7thln one year Payable after one year 21.641 79,530 21,171 94.018 Amounts included above which fall due after five years: Payable by instalments 54,669 59.667 A long term loan was received from Worcester City Council to enable the pool to be refurbished. The loan is unsecured, carries Interest at 40A per annum and is repayable by instalments over a period of 20 years. A bounce back loan of £50,000 was secured in October 2020 to assist with the impact of the Covid-19 pandemic. This loan is for 72 months with interest at 2.5 /0. the first 12 months of interest was covered by the government and the first repayment was made in month 13. 15-
THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2024 Incoming resources Resources expanded Transfers At 31 March 2025 Roof Replacement Fund Boiler Replacement Fund Solar panel grant 71,705 10,847 (2.559) (2,367) 69,146 8,280 59,000 (59,000) 82,352 59,000 (4,926) (59,000) 77,426 Prevlous year.. At l Aprfl 2023 Incomlng resources Resources expended Transfers At 31 March 2024 Roof Replacement Fund Boiler Replacement Fund 74,304 13,440 (2,599) 12,793) 71,705 10,647 87,744 (5,392) 82.352 21 Unrestrtcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific condltions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2024 Incoming resources Resources expended Transfers At 31 March 2025 Building Development Fund Solar panel installation General funds 18,611 98 (413) (984) (615,639) 18,296 58,016 528,392 59,000 443,143 700,888 461,754 700,986 (617,036) 59,000 604,704 Prevlous year: At 1 April 2023 Incomlng resources Resources expended Transfers At 31 March 2024 Building Development Fund General funds 19,024 348,819 (413) (535,719) 18,611 443,143 630,043 367,843 630,043 (536,132) 461,754 16-
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THE WORCESTER CITIZENS SWIMMING BATH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Operatlng lease commltments The amount recognised in the statement of financial actlvities as an expense in the period in restEct of operating leases totalled £1,003 {2024 - £789>. 24 Related party transactlons There were no disclosable related party transactions during the year (2024 - none}. 25 Cash generated from operatlons 2025 2024 Surplus for the year 138,024 88,519 Adjustments for.. Investment Income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (7,858) 26,724 (3,919) 28,188 Movements in working Capital.. (Increase)Idecrease in stocks Ilncrease) in debtors Increase in creditors (1,050) (12,49n 3,779 459 (3,364) 2,413 Cash generated from operatlons 147,122 112,296 26 Analysls of changes In net funds At q ApTiI 2024 Cash tlows Other nonrycashAt 31 March 2025 changes Cash at bank and in hand 199,555 22,225 221,780 Loans falling due within one year Loans falling due after more than one year (21,171) {94,018) 14,018 (14,488) 14,488 (21,641) (79,530) 84.366 36,243 120,609 18-