Charity registrdtion numbèr 1165857 STRATFORD SHARKS SWIMMING CLUB ANNUAL REPORT AND UNAUDITED FlhlANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STRATFORD SHARKS SWIMMING CLUB LEGAL AND ADMINi¥fRATIVE INFORMATION Trustees Mr A Partington Mr D Skinner Mrs H Evans Charity number 1165857 Principal addre55 43 Hunts Roa Stratford upon Avon Warwickshire CV37 71J England Independent examlner TC Group Celixir House stratford Business & Technology Park Innovation Way, Banbury Road Stratford-upon-Avon Warwick5hire United Kingdom CV37 7GZ srRATFORD SHARKS SWIMMING CLUB CONTENTS Trustees report Independent examiner's report Statement of financial artivities Balance sheet Notes to the financial statements 7-13 STRATFORD SHARKS SWIMMING CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The tru5tee5 present their annual report and financial statements for the year ended 31 March 2025. The financial statement5 have been prepared in accordance with the accounting policies set out irk the notes to the financial statements and comply with the 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 IFRS 1021" (effective l January 20191- Objectives and artlvlties The principal objective of the charity is to promote community participation in healthy recreation, in particular bv the provision of facilities, teaching and coaching for competitive swimming, water safety and the opportunity to participate in related aquatic events. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake. Achievèments and performance Significont activitie5 ond achievements ugoinst objectives The Charity has achieved its mission, which Is. To promote community participation in healthy recreation in particular by the provision of facilities, teaching 3nd coaching for competitive swimming, water safety and the opportunity to participate in related aquatic events" The Club continued with competitive swimming during the 2024-2025 season competing in a number of meets in the West Mtdlands. We also continued to compete in the th￿t main league competitions (Arena, Mercian and Nuneaton Juniorl. We saw 37 swimFner5 gain at least one qualifying time to compete at thè Warwickshire County championships in February with the club also entering teams Sn several relay event5. During the year four swimmers gained Level l or Level 2 teaching or coaching qualifications, putting their qualifications to use supporting the coaching teaTn With our Academy squads. The Club also Continues to provide volunteerin6 opportunities to swimmers in 5UPPOrt of their Duke of Edinburgh awards. The Club continues to support the Coventry and District ASA and Warwick5hire ASA, providing representation at their meetings, attending training events and competitions that they arrange. In return the Club has benefitted from variou5 bur58ries that are provided for the development of young coaches. .In September we were awarded a grant of £6,250 from the Stratford Town Trust. This included funds to support the club providing finan¢i81 support to familie5,' bursaries for teaching and coaching qualifications,. and the purchase of additional starting equipment. In February the Coventry & District ASA provided each representative club with a grant of £1,000 towards coaching and teaching qualifications, which we will be distributing as bursaries over the coming year. We continue to hold 2 club gala competions annually, the 'Mike Wardle Sprint5, swimming gala with events swam over 50m to commemorate the contribution made to the club of an Honorary Life Member and the 'll)0's' g31a with events swam over loom. Both 2re aimed at allowing swimmers to gain experience of competitive swimming in a fun environment. srRATFORD SHARKS SWIMMING CLUB TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Financlal revlew The Statement of Financial Activities shows a surplus for the year ended 31 March 2025 of £13,897 12024.. Surplus of £12,7771- The Balance Sheet show5 a net assets position at the yeèr end of £32,121 12024: Net assets of £18.2241. Reserves polity The Trustees have determined that the club should build towards at least three month5, Worth of operational expenses in its unrestricted funds as reported on its year-end balance sheet. The club requires this level of working capital (mainly cashl which will Ènable it to commit to providing facilities and services to its members. These commitments include swimming pool hire and the Salaries and wages of the toaching team. 5tructtlTei Bovernènce and management The charity is controlled by its governing document, B deed of trust, and constitutes a charitablè incorporated organisation. The charity's activities commenced on l April 2016. The trustees who served durinB the year and up to the date of signature of the financial statements were.. Mr A Partington Mr D Skinner Dr P Robotham Mrs H Evans (Resigned 14 March 20251 Mr R james IResigned 20 September 20241 Recruitment ond GTppointment of trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. There must at all times be a minimum of three Trustees in office. New Trustees are appointed by a resolution passed by the Trustees in special meeting. OrgOnlSOtionol Structure The Trustees are responsible for the management of the charity and may delegate any of their powers of functlOn5 to a committee or committees, and, if they do, they must éetermine the term5 and conditions on which the delegation is made and in accordance with the constitution. Inductionol trt7ining oAnew trustees New Trtjstees undergo an orientstion process to brief them on their leg31 obligations under Charity law the Charity's governing documents, the committee and decision making processes, the business plan and recent financial performance of the Charity. During the induction process they meet key employees and other trustee5. Trustees are encouraged to attend appropriate external and internal training events which will assist them in carrying out their role. Rffsk Munagement The trustees have a d￿tY to identify and review the risk5 to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and errDr. srRATFORD SHARKS SWIMMING CLUB TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 The trustees report was approved by the Board of Trustee5. Mr A Partington Trustee 11 June Z025 STRATFORD SHARKS SWIMMING CLUB INOEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STRATFORD SHARKS SWIMMING CLUB I report to the trustee5 on my examination of the financial statements of Stratford Sharks Swimmin8 Club for the year ended 31 March 2025. Re5ponsibllities and basls of report As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Charity's Act. In carrying out my examination I have followed all the applicable Direttions given by the ChBrity Commission under sectioft 14515llbl of the 2011 Act. Independent examlner's slalement yO￿r atterFtion is drawn to the fact that the charity has prepared financial 5tstements in accordanee with Accounting and Reporting by Charitie5 preparing their account5 in accordance with the Financial Reporting Standard applioble in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which Is referred to in the extant regulations but has now been withdrawn. understand that this has been done in order for financial statements to provide a true and fair view in accord3nce with Generally Accepted Accounting Practlce effective for reporting periods beginning on or after I January 2015. 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: accountinE records were not kept in respect of the as required by section 130 of the 2011 A¢t,- or the financial statements do not accord wSth those records,. or the financial statements do not Comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulation$ 2008 other than any requirement that the accounts give a true and fair view which is rtot a matter considered as part of an independent examination. I have no concerns and have come across no othef matters in connettion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the firban¢ial statements to be reached. TC Group Celixir House Stratford Business & Technology Park Innovation W3y, Banbury Road Stratford-upon-Avon Warwickshire CV37 7GZ United Kingdom Dated.. 11 lune 2025 STRATFORD SHARKS SWIMMING CLUB STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Unrestrlrted funds 2024 Notes Income from: Donations and legacies Charitablè acttvities Other trading activities Investments 14,259 156,264 3,177 8,165 143,978 5,123 Total Income 173,707 157,266 Expenditure on: Raising funcls Charitable activities 3,828 155,982 3,025 141,464 Total expenditure 159,810 144,489 Net irbcome and movement in funds 13,897 12,777 Reconciliation of funds: Fund balances at l April 2024 18,224 5,447 Fund balancesat 31 Ma￿h 2025 32.121 18,224 The statement of financial attivities inclltdes all gains and losses feco8ni5ed in the year. All income and expenditure derive from continuing activities. STRATFORD SHARKS SWIMMING CLUB BALANCE SHEEr AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 13 5.192 3,239 Current assets Debtors Cash at bank and in hand 14 821 26,366 1,823 13,704 27,187 15,527 Credltors: amounts falllng due within one year 15 12581 5421 Net current assets 26,929 14,985 Total assets less current IlabllltSes 32,121 18.224 Net assets excludln8 penslon Ilabillty 32,121 18.224 The funds of the Unrestricted funds 32,121 18.224 32.121 18,224 The flnancial statements were approved by the trustees on 11 June 2025 AS PRrtliiBt& Mr A Partington Trustee STRAfFoRD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountln8 pollcles Charity informatlon Stratford Sharks Swimming Club is a charitable incorporated organisation. 1.1 A¢¢ounting conventlon The financial statements have been prepared in èccordan¢e with the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republ*c of Ireland" I'FRS 102.1 and the Charities SORP "Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accDunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. Advantage has been taken of the provision5 in the SOAP for charities not to Prepare a Statement of Cash Flows. The Charity is a public benefit entity as defined by FRSIO2. The flnancial statements have been prepared under the historical cost Convention. 1.2 Golng Concern At the time of approviftg the financi31 statements, the trustees have a rèasonable expectation that the has adequate resources to continue in operational existence for the foresee3ble future. Thus the trustee5 continue to adopt the going concern ba515 Of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustee5 in lurtherance of their charitable objectives. 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 thèt income will be received. 1.5 Expenditure Expenditure is recoBnised once there is a legal or constructive obligation to transfer economic beneflt to 3 third party, it is probable that a transfer of economic benefits will be required in Settlement, and the amount of the obligation can be measured reliably. Expenditure is cla55ified by activity. The costs of each artivity are made up of the total of direct costs and shared costs, including 5UPPOrt C95ts involved in undertaking each activity. Direct ¢0Sts attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those attivities on a basis consistent with the use of lesources. Central stsff costs are allocated on the basis of time spent, and depreciat￿On charge5 are allocated on the portion of the asset's use. STRATFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poll¢ies {Continuedl 1.6 Tangible fixed assets Tangible fixed assets a￿ initially measured at cost and subsequently rneasured at cost or valuation. net of depreciation and any impairment losses. Depreciatton is recognised so as to write off the c05t or valuation of assets less their residual values over their useful live5 on the following bases: Fixtures and fittings IS% reducing balance The gain or loss arising on the disposal of 3n asset is determined as the difference between the sale proceeds and the ￿rrying value of the asset, and is recognised in the statement Df financial activities. 1.7 Employee benefits The cost of any unused hollday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits. The charity operates a defined contribution scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities In the period to which they relate. 1.8 Fund Accounting Unrestricted funds can be used in atcordance with the charitable objectives at the discretion of the trustees. Restricted funds can be used for particular restricted purposes Wlthin the objects of the charity. Restrictions arise when Specified by the donor or when funds are raised for parti¢Lilar restricted purposes. Further explanation of the nature and purpose of each fund is included In the note5 to the financial ststernents. Income trorn donation5 and legacies Unrestricted funds Unrestrl¢ted fund5 2024 20Z5 Donations and gifts Grant 5ncome 7,009 7,250 6,787 1,378 14,259 8,165 STRATFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAI STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charltable activlties Unrestrlcted tunds 2025 Unrestritted funds 2024 Charltable artivlties Membership and training Fees Galas and open meet entries 124,536 31,728 114,106 29,872 156,264 143,978 Income from other tradinE actlvltle$ Unrestrirted Vnrestrl¢led fund5 fund5 2025 2024 Shop Income Fundralsing 2,057 1,120 2,391 2,732 Other trading artivities 3,177 5,123 Income from investments Unrestrkted Unrestricted luDds funds 2025 Z024 Interest receivable STRATFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Unre5trirted Unrestricted funds funds 2025 2024 Trading costs Purchases 3,828 3,025 Expenditure on charltable artlvltles Unrestricted Unrestrlrted Expenditule Expenditure 2025 2024 Direct tosts Depreciation and impairment Pool Hire ASA registration and 5e3gue fees Other direct costs Education and Training Home gala and open meet entries Wages Pension 533 572 72,033 9,031 5,022 1,165 16,344 35,942 385 76,277 9,804 5,502 1,073 17,175 43,893 541 154,798 140.494 Grant funding of activities15ee note 81 1,184 970 155,982 141,464 Analysis by fund Unrestricted funds 155,982 141,464 Grants payable Grants payable are provided to help with membership costs and club development including training and equipment. 10- STRATFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Net movement In funds 2025 2024 The net movement in fLÉnds is stated after char8ingllcreditinEI'. Depreciation of owned tangible fixed assets S33 572 10 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the during the year. 11 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number 13 Employment costs 2025 2024 Wages and salaries Other pension costs 43,893 541 35.942 483 44,434 36,425 There were no employees whose annual remuneration was more than £60,000. 12 Taxation The charity 15 exempt from taxation on its attivities because all its income is applied for charitable purpose5. TFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Tan8lble flxed assets Fittturts •nd ll85 Cost At l April 2024 Additions 11,014 2.485 At 31 March 2025 13,499 Depreciation and impalrment At l April 2024 Depreciation charged In the year 7.774 533 At 31 March 2025 8,307 Carrying amount At 31 March 2025 5,192 At 31 March 2024 3,239 14 Debtors 2025 2024 Amounts falling due within one year.. Other debtors 821 1,823 15 Credltors: arnounts falllng due within one year 2025 2024 Other CreditOTS 258 542 2S8 542 12- STRATFORD SHARKS SWIMMING CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Unrestrfcted funds The unrestricted funds of the charity comprlse the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may bè usèd. These include designated funds which have been Set aside out of unrestricted funds by the trustees for specific purposes. At l April 2024 IncomSng resources Resources At 31 March expended 2025 General funds 18.224 173,707 1159,8101 32,121 Prevlous year: At l April 2023 In¢omlng resources Resources At 31 March expended 2024 General funds 5,447 157,266 1144,4891 18,224 The unrestricted funds of the charity comprise the unexpended balances of donations, income from charitable activities and gr3nt5 which are not subject to specif1¢ conditions by donor or grantor as to how they may be used. These include designated funds which have been Set aside out of unrestricted fund5 by the trustees for specific purposes. 17 Operating lease commitments Lessee At the reporting end date the had outstanding comTftitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2025 2024 Within one year 6,357 6,621 18 Related party transactions There were no disc105able related party transactions during the year12024- none). 13