Charity rg9i¥tration numbgr 1168906 ST NEOTS AQUATIC AND LEISURE CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ST NEOTS AQUATIC AND LEISURE CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M H Marks MBE CEng Ms J L Drennan Ms E J Speed Mr L E Filch Mr I P Taylor Ms Allison Schonder Ms K Dunda5-Todorov {Appointed 11 July 2023} Charty numbèr 11689)6 Principal address 66 Wrgn Walk Eynesbury Sl Neots Cambridgeshire PE19 2GE Indèpendent examiner Kinnaird Hill Brunel House 1 Arthtris Court Hunlingdon Cambridgeshire PE29 6XG Bankers Lloyds Bank plc Lloyds Bank plc Commercial Banking PO Box 1000 BX1 1LT Natwest Bank pl¢ 37 High Street Sl Neols Cambs PE19 1BP ST NEOTS AQUATIC AND LEISURE CIO CONTENTS Page Trustees report Statement of Trustèes iesponsibililies Independent examlner's report statement of financial activities Balance sheet Note5 to the finanaal statements 8-14 ST NEOTS AQUATIC AND LEISURE CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have bèèn prepared in a¢w[dan￿ with the arxounling policies sel out in note 1.1 to the financial statements and comply wth the Charity's Conslilulion. the Charitie5 Act 2011 and "Accounting and Reporting by Charitiès.. Staternenl of Recommended Practice applicable to charities preparing their accounts in accordance with th& Finand81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191" Objectives and activities The Charity's object is lo promote for the benefit ol the inhabitants of St Neols and the surrounding area, the provision of facilitie$ for ieciealion, in particular aquatic facilities or other leisure time occupation of indi¥Aduals who have need of such facilities by reason of their youth, age, infirmity or disablement. financial hardship or social and ¢onomic eircumslances or for the public al large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants. In setting objectives and planning for activities. the Trustees have give due consideration to general guidance published by the Charity Commission relating to public bènefrt, including the guidan¢9 'Public bgnefiL running a harily IPB21'. The charity ha5 three rnain activitiès.. It provides a lease to the Ten-Pin Bowling Centre which already operates on the sile. It is developing plans for a splash park and Cafwcommunity building on the 511e of the old outdoor pool site. It is working with various parties in the hope of building a wable swimming pooj on the sile. Achlev•m•nts and pèrfomianee The lease of land to the Eat 'n' Bowl for the Ten-Pln Bowllng Centre continued throughout the ye81. The full Splash Park Site plans have now received Planning Pèmission fiom Hunlingdon District Council IHDCI. The CIO have continued the ongoing discussions with Sl Neols Town Council lo obtain the nece55ary financial support to cover construdion costs. The CIO has also Submitted a funding request to the Governmen15 Levelling up Scheme. St Neots Town Council is custodian trustee for Sl Neols Swimrning Pool Tru51 and, in accordance with the terms of the Charity Commission Scheme applicable lo Sl Neols Swimming Pool Trust. the land continues lo be a pamianèntly andowed asset following ils transfer for Sl Neots Aquatic and Leisure CIO. Flnancial review Going concern After making appropriate enqUir￿S. the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existènce for the ft>ieseeable future. The IIu51ees did grant Eat 'n' Bowl a rent-free period whilst it was unable to tr8de, a5 8 resutt of the coronawru5 pandernic. Thi5 was a short- term loss of incomè to the Charity. For this ￿asOn. the Iruslees continue to adopt the going concern basi5 in prèparing the financial Statements. Further delai15 regarding the adoplion of the going wncern basis can be found in the 8¢¢ounling poliries. Reserves policy The Iruslees are seeking ffinancial support lo fund the proposed swimming pool and splash park through grants and donations. There are minimal operating costs at the pr&sent timè. and all funds genèrated from thè iÈnl of the siltr to Eat'n. Bowl are being added lo the general reserve. Fundraising Thè chaiily has not undertaken any fund-raising activities during the period. Grants and donations continue to be sought for the future development of the site. There is no intenlion to use professional fundraisers at the present lime. ST NEOTS AQUATIC AND LEISURE CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Stru¢ture, governance and management Constitution St N&ots Aquallc and Leisure CIO is a registered charity, number 1168906. and is constrtuted under a Tru51 deed. The Trustees who served during the year and up to the date of signature of the financial statements We￿.. Mr M H Marks MBE CEng Ms J L Drennan Ms E J Speed MrLEFilth Mr R l Taylor Mr I P Taylor Ms Allison Schondei Ms K Dundas-Todorov {Resigned 17 January 20231 IAppoinled 11 July 20231 M•thod5 of appointment or ele¢tion of Trustees The eharills constitution, the CIO Foundation docurnent, initially required the charity to have a minimum of 3 and a maximum of 12 Iru51ees, with al least one truslee being over 18 years of age. Sl Neots Town Counril was able lo appoint up lo 3 Iruslees, with each appoinlrnent being for a term of 3 years. In December 2018. the trustees agreed lo amend the charity's constitutions so that, for up to nine Iruslees not appointed by Sl Neols Town Council, there should be one representative from St Neots Town Council. Trustees can be re-appointed for three consecutive terms and may not be re-appointed for a fourth consecutive leTm, but they May be reappointed after an interval ol at least one year. The charity's Iruslees have been appointed in order to establish the range ol skills required to oversee and manage the proposed development ofthe new faalities. Organisational structurè and d•elslon4naking policiès The trustees meet regularly to discuss th8 charty's plan$ foi the future and lo lake necessary decisions to enable the development of thè charitys facilitiès. Decisions may be taken either". la} at a meeting of the ¢harlly Iruslee5'. or Ib} by rèsolution in wrthng or eleclronio fi)rm agreed by all trustee5, which rnay comprise either a single document or several documents containing the lesl of the resolution in like form lo each of which one or more ITU51ees has signified Ihgir agreernenl. Policles adopted for the Inductlon and trainlng of Trustèes The charitys constitution, the CIO Foundalon document, requlres the charty lo make avallable lo new Iruslees, on or before his or her first appointment". la) 8 copy of thè cuirènl version of the ¢onslilulion Ib) a copy of the CIO'S latest Trustees, Annual Report and slalemenl of accounts Financtal risk management The ItU51ees have 8sse58ed the rnajor risks lo which the charity is exposed, in particular those related lo the operations and finances of the charity. and are sa115fied that syslerns and procedures are in place lo miligale our exposure lo the major risks. Plans for future ￿riodS The Iruslees continue lo work on plans for the development of a new swimming pool and splash park at the site on Huntingdon Street. St Neots. ST NEOTS AQUATIC AND LEISURE CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Tr￿81885 rè was appro ed by th8 Board of Twslees. Mrm H Marks MBE C Tnjstse or Trust•e ST NEOTS AQUATIC AND LEISURE CIO STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance wrth applicable law and United ￿ngdoM Accounting Standards (United Trfj"ngdom Generally A¢￿pted Aecounling Praclicel. The law applicable to charities in England anEI Wales requires the Tru51ees lo prepare financial slalemen15 for each financial year which give a tme and falr view of the Stale of affwrs of the Charity and of the incoming resources and application of resour¢è$ of the Chaiity for that year. In preparin9 Ihestr financial slalernenls, the Trustees are iequired to.. select suf(able accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP", makejudgements and estimates thal ar& reasonabla and pru