**Swim Narberth CIO** **----- Start of picture text -----**
CIO
**----- End of picture text -----**
**Registered Charity Number: 1162606** ## **Annual Report and Financial Statements for the period 1st November 2024 to 31st October 2025** **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 1 of 13** ## **Swim Narberth CIO** **Annual Report and Financial Statements** for the period 1st November 2024 to 31st October 2025 |**Contents**|**Page**| |---|---| |About Swim Narberth CIO|3| |Trustees' report|4-9| |Statement of financial activities|10-11| |Notes to the accounts|12| |Examiner's report|13| ## Prepared by Chris Walters (Chairman) and Ann Stephens & Co Ltd Accountants **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 2 of 13** ## **Swim Narberth CIO** ## **Trustee’s Report** The Trustees present their report together with the financial statements of the charity for the year ended 31st October 2025. The Trustees have prepared the report in accordance with the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Swim Narberth CIO** ## **Charity Number:** 1162606 ## **Registered in England and Wales - Registered Office** Swim Narberth CIO Narberth Swimming Pool, The Old School Estate Station Road Narberth Pembrokeshire SA67 7AD ## **Trustees** Mr. Christopher Walters (Chairman) Mrs Nina Goldsworthy-Griffiths Mr Richard Jones Mrs Judith Jones ## **Governing document** Registered as a Charitable Incorporated Organisation (CIO) on 22st January 2015 ## **Bankers** NatWest Bank 18 High Street Haverfordwest Pembrokeshire SA61 2DE ## **Independent Examiner** Ann Stephens & Company Ltd. The Lodge Allensbank Providence Hill Narberth Pembrokeshire SA67 8RF **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 3 of 13** ## **Swim Narberth CIO** ## **History** Swim Narberth CIO was formed from the Friends of Narberth Pool (FoNP), who in December 2013 decided to challenge the decision of Pembrokeshire County Council (PCC) to close Narberth Swimming Pool. In January 2014, FoNP became formally constituted and developed a viable and sustainable plan to take over and run the pool for the benefit of the community. After presenting the plan to PCC, the group was given three months to raise £80,000 from private sources to enable the takeover to proceed. In total, FoNP raised in excess of £120,000. Swim Narberth CIO was formally constituted in April 2014 and took over a 125-year lease of the grounds, buildings, and full management of the pool on 1st November 2014. The organisation was later registered as a Charitable Incorporated Organisation (CIO) on 9th July 2015. ## **Structure, Governance and Management** Swim Narberth CIO was registered as a charity on 9th July 2015 and is governed according to its constitution as a Charitable Incorporated Organisation (CIO) by the Trustees. The charity has four Trustees, who meet quarterly with the Pool Manager to: - Set policies and determine strategy. - Make management decisions. - Review operations to ensure they continue to meet the aims and objectives of the charity. - Review all income and expenditure of the charity. All Trustees serve on a voluntary basis. The four Trustees were appointed for an unlimited term; natural turnover will occur as required, and a review will be carried out when appropriate. New Trustees will be recruited as needed. The pool is supported by a Friends of Narberth Pool (FONP) Committee, which includes Trustees, members of the Friends of Narberth Pool, pool users, representatives of other community groups, and other interested individuals. The General Committee plays an important role in: - Raising funds. - Recruiting volunteers. - Hosting events in support of the pool. An Annual General Meeting (AGM) for the Friends of Narberth Pool is held in December, at which future plans are reviewed and the strategy for the coming year is agreed. ## **Public benefit statement** The charity advances its objectives for public benefit by providing an affordable swimming pool for the community and members of the general public. Swim Narberth CIO delivers a wide range of services, including: - Public swimming sessions. - Swimming lessons for five local schools. - Private swimming lessons. **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 4 of 13** ## **Swim Narberth CIO** - A variety of water-based activities designed to promote good health, enjoyment, and water safety. Through these activities, the charity supports both physical and mental wellbeing, fosters community engagement, and helps ensure that swimming remains accessible and inclusive for all. ## **Risk Management & Safeguarding** All staff and volunteers are fully trained for the positions they hold. The Pool Manager/Safeguarding Lead is specifically trained in both safety and safeguarding management. All policies, procedures and training are regularly reviewed and updated in line with best practice and the standards applied in municipal swimming pools across the county, with the support of our external HR & HSE advisory company, Key Group Services Ltd. In addition to operational and financial risks, the charity recognises the importance of safeguarding risks. Robust safeguarding policies and procedures are in place to protect children, young people, and vulnerable adults who use the pool. All staff and volunteers receive safeguarding training appropriate to their role, and concerns are dealt with promptly and in line with statutory guidance. It is the policy of Swim Narberth CIO to proactively identify, assess and manage risks inherent in our services, operations and strategic plans. This approach ensures the safety and wellbeing of service users, protects the assets of the charity, and supports the long-term sustainability of the pool for the community. ## **Objectives and Activities** In addition to public swimming and lessons for all ages, Swim Narberth CIO provides a wide range of activities, including: - Parent and Baby classes - Parent and Toddler classes - Junior Life Saving Club - Swimming lessons for local schools - Aqua-Fit classes - Over 55 Club - Ladies Only sessions - Canoe Club - Swimming for the Disabled - Swimming for the Autistic ## **The pool also has a meeting room, which is used for:** - Training courses for Lifeguards, First Aid, and Life Saving - Over 55 Club activities - Children’s pool parties - Training sessions - A free venue for any local community group requiring a meeting space Communication with the community is supported through our website (www.Swim Narberth CIO.com) and Facebook page (www.facebook.com/Swim Narberth CIO). We also produce an annual Pool Newsletter, which is distributed by email to subscribers and displayed in the meeting room and on community notice boards. **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 5 of 13** ## **Swim Narberth CIO** ## **Achievements and Performance including Challenges 2024-2025** ## 1. Grant Funding - We continue to supply where possible Pembrokeshire County Council with schools’ swimming lessons and free-swimming provision, in line with the Welsh Assembly Government commitment. ## 2. Income Streams Despite challenges, we maintained a steady and reliable income through swimming lessons and private hires. We have also now diversified in selling take home commodities such as ‘Cold Drinks & Ice Creams which add on additional income to our bottom line’ ## 3. Development We have as per our aim last year implemented a new Software programme called Soakly which has allowed us to improve financial tracking and payment processing for private hire swimmers, with parent access to see child development from an App. ## 4. Management Team - We have instructed two new Managers into roles who now manage the day to day running of the pool with the help of the Trustee’. ## **Achievements, Challenges & Future Plans** Despite continuing to operate within a challenging financial environment and an ageing building, 2024–2025 has also been a year of considerable progress for Swim Narberth. The charity has continued to provide an important community swimming facility for Narberth and the surrounding area, supporting more than 1,000 visits each week and delivering swimming lessons to more than 350 children. Throughout the year, we have maintained a diverse programme of activities, including swimming lessons, public and lane swimming, aqua-fit, sessions for older people, parent and child activities, disability and autism provision, lifesaving activities and support for other community organisations using the pool. Following some of the management and staffing difficulties experienced during the previous year, greater emphasis has been placed on stability, staff development, teaching standards and building a stronger operational structure for the future. One of our most significant areas of progress has been the development of plans for major investment in the pool building and its ageing infrastructure. This includes proposals for replacement of the flat roof and a substantial upgrade to the pool’s air-handling system, with energy efficiency and reducing future operating costs at the heart of the project. Considerable work has also taken place behind the scenes to identify funding and match-funding opportunities to enable these improvements to proceed. While significant challenges remain, particularly around the cost of maintaining an ageing swimming pool, the Trustees believe that the progress made during 2025–2026 provides a much stronger foundation from which Swim Narberth can plan for its long-term future. **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 6 of 13** ## **Swim Narberth CIO** ## **Financial review and reserves policy** The charity’s total income for the year ended 31 October 2025 was £251,352 (2024: £241,208), representing an increase of approximately £10,000 on the previous year. This was principally driven by continued growth in pool income, which increased to £237,585 (2024: £215,680), demonstrating continued strong demand for the services provided by Swim Narberth. Swim Narberth 2025 Receipts and payments charity accounts.pdf Total payments for the year were £250,652 (2024: £243,497). Staff costs remained the charity’s largest area of expenditure at £156,609, broadly consistent with the previous year. Premises-related costs, including rent, rates, power and insurance, increased to £34,312 (2024: £24,969), while repairs and renewals increased to £15,646 (2024: £12,523), reflecting the continuing financial pressures associated with operating and maintaining an ageing swimming pool facility. Swim Narberth 2025 Receipts and payments charity accounts.pdf Despite these increased costs, the charity ended the year with a £700 surplus of receipts over payments, compared with a deficit of £2,288 in the previous year. This represents a positive improvement and reflects the Trustees’ continued focus on maintaining services, controlling expenditure and improving the charity’s financial sustainability whilst responding to significant operational and maintenance pressures. Swim Narberth 2025 Receipts and payments charity accounts.pdf At the year end, the charity held £3,168 in unrestricted cash funds, compared with £2,468 at the start of the year. The charity was also due £3,782 from HMRC in respect of VAT. Swim Narberth 2025 Receipts and payments charity accounts.pdf Although the improvement in the year-end position is welcomed, the Trustees recognise that the charity’s level of readily available reserves remains significantly below that considered desirable for an organisation operating a facility of this nature and scale. The swimming pool carries substantial fixed costs and remains exposed to unforeseen expenditure arising from plant, equipment and building repairs. The Trustees therefore remain committed to strengthening the charity’s reserves over the longer term. The aim remains to work progressively towards holding unrestricted reserves equivalent to at least three months of core operating expenditure, recognising that achieving this target will take time and must be balanced against the need to maintain the facility, invest in essential infrastructure and continue providing affordable community swimming provision. Overall, the Trustees consider the 2024–2025 financial year to show encouraging progress towards a more sustainable financial position, particularly given the continuing pressures associated with staffing, utilities, repairs and the operation of an ageing facility. The priority for the coming year will be to build upon this progress, strengthen unrestricted reserves and continue seeking external funding for major capital improvements so that these costs do not place undue pressure on the charity’s day-to-day finances.. ## **Measures to Strengthen Financial Sustainability** The Trustees remain committed to strengthening the charity’s financial position and ensuring that Swim Narberth remains sustainable for the long term. During the year, progress has been made in addressing historic financial liabilities. The charity has successfully agreed a structured repayment plan with HMRC for outstanding liabilities, with the intention that these historic amounts will be fully repaid by June 2026. The Trustees consider this an important step towards placing the charity on a stronger financial footing and removing liabilities inherited from previous periods. **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 7 of 13** ## **Swim Narberth CIO** The charity also continues to invest in its management team, recognising that strong leadership and effective day-to-day management are essential to improving operational performance, developing income opportunities and maintaining the high standard of provision expected by our users. The Trustees will continue to support the development of our new managers through training, professional development and increased responsibility. Looking forward, a major priority will be securing significant external capital funding to address some of the longer-term challenges associated with the swimming pool building and its ageing infrastructure. The Trustees are developing ambitious proposals for investment in the facility, with a particular focus on essential building improvements, plant and equipment replacement, energy efficiency and measures that can reduce the charity’s future operating costs. Alongside this, the Trustees will continue to: - Review pricing and services to ensure that increases in operating costs are appropriately reflected while maintaining affordable access to community swimming. - Develop fundraising and grant-funding opportunities and strengthen relationships with potential funding partners. - Continue investing in staff training and development, creating greater opportunities to develop skills internally. - Review staffing, timetables and services to ensure the charity operates as efficiently and effectively as possible. - Seek opportunities to increase participation and generate additional sustainable income while remaining consistent with the charity’s objectives. - Continue engaging with the local community, stakeholders and funding organisations to demonstrate the importance and value of maintaining a community swimming facility in Narberth. The Trustees will continue to regularly review the charity’s Risk Register, Reserves Policy, budgets and financial performance, ensuring that emerging financial and operational risks are identified and managed appropriately. While the charity continues to operate with limited unrestricted reserves, the progress made in addressing historic liabilities, strengthening management and developing plans for substantial external investment provides a more positive foundation for the future. The Trustees’ priority is now to build upon this progress and move the charity from managing short-term financial pressures towards greater resilience, planned investment and long-term sustainability. ## **Trustees' Responsibilities** The Trustees of the charity acknowledge their responsibility to: - Maintain proper accounting records. - Prepare annual accounts that show a true and fair view of the activities of the charity. - Take appropriate measures to safeguard the assets of the charity and protect them from major loss or misuse. This Report is prepared under the Charities Act 2011 and in accordance with the requirements of the Charities (Accounts and Reports) Regulations 2008. **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 8 of 13** ## **Swim Narberth CIO** ## **Approval** This report was approved by the Trustees on the 28/August/2026 and is signed on their behalf by: Signed: ## **Christopher James Walters** _**Chairman –** Swim Narberth CIO_ Date: 28/08/2026 **Swim Narberth CIO Trustee Report & Accounts** 1st November 2024 to 31st October 2025 **Page 9 of 13** Swim Narberth CIO Auditors, Re ort CHARITY COMMISSION FOR ENGIAND AND WAiES Receipts and payments accounts Forth• p¥lod To Section A Receipts and payments fund fyndl fvnds T•t•l L••ty•w A1RK Crw 21U 141• Sub totsi{GmM th¢0￿ tsrARJ a41 Coslol rT4 12 12 7•1 741 247 A4 A•••1 •nd In￿1￿ 9.1 &141 Sub A6 CMh lund• K4•t y••r•nd C•*h IIM• yev 4781 146• Swim Narberth CIO Trustee Report & Accounts 1st November 2024 to 31 st October 2025 Page 10 of 13 Swim Narberth CIO CIIARITY COMMISSION FOR EMGLAND AND WALES Receipts and payments accounts 31 OG¥Aw2025 Section B Statement of assets and liabilities at the end of the period Detai fvnds fvThds 81 C••h funth rotsl u•h fvndl fvndB D•¢•ll$ 82 Ollw mon•l•ry ••••ts D•t•lls B3 Inv••tm•nt ••••ts 1W* B4 As••ts rntaln•d kn th• charfty'• ¢)wn u la7￿0 1400 1•2 De¢alls BS U4blmh• s￿ned byw bo Dato of Swim Narberth CIO Trustee Report & Accounts 1st November 2024 to 31 st October 2025 Page 11 of 13 Swim Narberth CIO CHARITY COMMISSION fol ENGLAND AND WALES Recelpts and payments accounts To Section C Notes to the accounts C1 B•¥l• af prnpwaUt)n Th• Ch¥ty dkl r￿1 ha%*d•bt rM*d tylt•t31 Oth*wllZSth•1 •rydlts•B••l Swim Narberth CIO Trustee Report & Accounts 1st November 2024 to 31 st October 2025 Page 12 of 13 Swim Narberth CIO Inde endent Examiner's Re CHARITY COMMISSION ENGLAND ANO WALE5 Independent examlnorfs roport on tho accounts 1112601 l the bws1•08 M rny examlnakn ￿ thfr pA%*wrt8 01 th• abo4• thority {kn• Trrf) frA th• ye•r •rthJ 31 Ortobff 2Q25. ot r•port •r 14S ol ts 2011 pA and In ¢•nwr*J wi rny •x•mln8Yon. I hw• IcAkrtRd al th• a￿.¢￿1 Dlrndkn8 by Ih Ch•rtty s•ctw 145(SXbl ¢Ath• A Ind•p•nd•nt •x•mlD•rf• I hm my •Y￿￿1•b￿l. I c¢mfftm th91 no mottern hw• •l•t•m•nl 10 my ¥tt•ntwyi in Conn￿1￿ vAth b)0 •xJmln•lkn glv•• m• c•nwvJ th• Ilffii •TrJ ctyt•nt ol a¢¢4unts sel wt ChJrtY•s (*￿￿nI8 oThJ R•kwty) 21M)8 other th•n •ny w￿•M•nI V￿t th• •c(wrts • Iru• •nd l*. fV)t • m•tt•r vthh th• •x•fiWt•￿ to •ll•ntsJr) •hrAJhJ bè rnpts1 In Jay Yts* 9u•l1A￿lIrf*1 or W Ilf Swim Narberth CIO Trustee Report & Accounts 1st November 2024 to 31 st October 2025 Page 13 of 13