**REGISTERED COMPANY NUMBER: 10157657 (England and Wales) REGISTERED CHARITY NUMBER: 1169615**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST MARCH 2022**
## **FOR**
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
McCabe Ford Williams Statutory Auditors and Chartered Accountants 2 The Links HERNE BAY Kent CT6 7GQ
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Report of the Independent Auditors**|4|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Cash Flow Statement**||9||
|**Notes to the Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|17|
|**Detailed Statement of Financial Activities**|18|to|19|
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Faversham Pools provides affordable and accessible leisure facilities for the community of Faversham and beyond. It is a service run for the benefit of local people, operated independently but in partnership with other local and public authorities. The excellent swimming and water activity facilities promote healthy lifestyles and well-being, encourage families to exercise together and are a vital local asset.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The year was one of significant change for the Pools. Our long serving General Manager retired and at the same time our Health and Safety Manager also retired. We also lost our Maintenance Manager and our Financial Administrator left to go travelling. Shortly afterwards the swim school which was operated as a separate business from the Pools gave short notice of terminating their arrangement.
This clearly placed a pressure on the operation and management of the Pools but like any change this offered the opportunity to bring in new and fresh ideas. We recruited a new management team and strengthened our financial administration function.
The swim school was brought in house and has been a major success. The outdoor pool, for the first time, was kept open during the winter months with a well - developed sunset swims programme in place. The new team has brought new ideas and are well placed to take us forward. We were grateful to have received grant funding of £5,000 from Faversham Town Council to assist with the running costs of winter opening. We modernised our financial and business processes and undertook an organisational structure review.
We invested in new variable speed drives which are environmentally friendly and which reduced our carbon footprint.
We have also undertaken a review and measurement of our carbon footprint.
Although there is currently no statutory requirement to report CO2 emissions for businesses of our size we think it good practice to do so. Our measurement is tCO2e at 327.05[tonnes of carbon dioxide equivalents]. This covers scope 1 and 2 emissions.
We continue to be grateful for the support provided by Swale Borough Council and Faversham Town Council along with a number of other organisations which have grant aided us.
## **FINANCIAL REVIEW**
## **Operational performance**
The year saw the Pools beginning to recover from the lockdowns of the previous year as life began to return to some normality. Despite keeping the outdoor Pool open during the winter we restricted the loss on our operational activities to £13,266. Net liquid assets at the year- end showed only a marginal reduction from £190,208 to £189,105. We were able to invest £53,996 in our plant and machinery.
## **Reserves policy**
The Pools ended the year with an adequate level of reserves. We continue to actively pursue all avenues of external funding. New investment initiatives are only given the go ahead if we can raise external funding to meet the majority of the costs.
## **FUTURE PLANS**
We continue to develop our long term plans for the Pools particularly in respect of the changing rooms which are looking very dated. We have recently commissioned a condition survey which has identified a number of areas where investment will be required.
Our ability to invest in the Pools will be highly dependent on our ability to raise funding particularly at a time when we are facing ever increasing cost pressures.
Page 1
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity, as a company limited by guarantee is governed by its Memorandum and Articles of Association, as defined by the Companies Act 2006. The founding trustees and directors were carried over from the former unincorporated charity, and are subject to re-election at the AGM. Nominations are also invited from Swale Borough Council, Faversham Town Council and Faversham Swimming Club.
The Board of Trustees continues to get stronger with a wide range of skills available. We have had additional expressions of interest from potential new trustees.
## **Organisational structure**
The governance of the charity is set out in the Memorandum and Articles of Association. The affairs of the charity are managed by a board of trustees not normally less than 7 in number with no maximum. The Board meets not less than once each quarter. The chair is appointed by the trustees and the day to day operation of the Pools is managed by a Pools manager. The Board has established 3 sub committees to deal with Finance, Governance and Development.
## **Decision making**
All questions at any meeting are determined by simple majority votes cast by trustees, with each trustee having one vote. In the event of an equality of votes, the Chair may exercise a second vote as a casting vote.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
10157657 (England and Wales)
## **Registered Charity number**
1169615
## **Registered office**
Leslie Smith Drive Faversham Kent ME13 8PW
## **Trustees**
R Duncan Director (resigned 31.7.21) M Ellsmore Director M Henderson Director B J Martin Director E Care Director D Riggs Director T Valentine M Marsh O Rawlinson (resigned 31.7.21) A Edwards L Moriarty (appointed 1.3.22) T Conroy (appointed 25.10.21) Dr P Cuomo (appointed 24.10.22)
## **Company Secretary**
L L Jarvis Keysell
## **Auditors**
McCabe Ford Williams Statutory Auditors and Chartered Accountants 2 The Links HERNE BAY Kent CT6 7GQ
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Faversham Swimming Pools Management Committee Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, McCabe Ford Williams, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ M Marsh - Trustee
Page 3
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **Opinion**
We have audited the financial statements of Faversham Swimming Pools Management Committee Ltd (the 'charitable company') for the year ended 31st March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31st March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Material uncertainty relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 4
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the leisure industry;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, FRS 102, Charities Act 2011, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
McCabe Ford Williams
Statutory Auditors and Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 2 The Links HERNE BAY Kent CT6 7GQ
Date: .............................................
Page 6
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
4,885
**Charitable activities**
Charitable Activities
195,049
Other trading activities
4
706,651
Investment income
5
-
**Total**
906,585
**EXPENDITURE ON**
Raising funds
7
16,875
**Charitable activities**
8
Charitable Activities
902,976
**Total**
919,851
**NET INCOME/(EXPENDITURE)**
(13,266)
**Transfers between funds**
19
45,720
**Net movement in funds**
32,454
**RECONCILIATION OF FUNDS**
Total funds brought forward
372,177
**TOTAL FUNDS CARRIED FORWARD**
404,631|Restricted
funds
£
4,680
44,602
-
-
49,282
-
3,184
3,184
46,098
(45,720)
378
45,458
45,836|2022
Total
funds
£
9,565
239,651
706,651
-
955,867
16,875
906,160
923,035
32,832
-
32,832
417,635
450,467|2021
Total
funds
£
297,049
246,536
68,716
20|
|---|---|---|---|
||||612,321|
||||1,035
596,348|
||||597,383|
||||14,938
-|
||||14,938
402,697|
||||417,635|
The notes form part of these financial statements
Page 7
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **BALANCE SHEET 31ST MARCH 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
14
225,246
**CURRENT ASSETS**
Stocks
15
8,193
Debtors
16
1,204
Cash at bank and in hand
247,420
256,817
**CREDITORS**
Amounts falling due within one year
17
(77,433)
**NET CURRENT ASSETS**
179,384
**TOTAL ASSETS LESS CURRENT LIABILITIES**
404,630
**NET ASSETS**
404,630
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
36,116
-
9,721
-
9,721
-
9,721
45,837
45,837|2022
Total
funds
£
261,362
8,193
10,925
247,420
266,538
(77,433)
189,105
450,467
450,467
404,630
45,837
450,467|2021
Total
funds
£
227,427
13,047
4,230
214,204|
|---|---|---|---|
||||231,481
(41,273)|
||||190,208|
||||417,635|
||||417,635|
||||372,177
45,458|
||||417,635|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M Marsh - Trustee
The notes form part of these financial statements
Page 8
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2022
£
87,436
87,436
(54,220)
-
(54,220)
33,216
214,204
247,420|2021
£
(3,756)
(3,756)
(4,197)
20
(4,177)
(7,933)
222,137
214,204|
|---|---|---|
The notes form part of these financial statements
Page 9
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operations**|2022
£
32,832
20,285
-
4,854
(6,695)
36,160
87,436|2021
£
14,938
18,951
(20)
1,035
8,568
(47,228)|
|---|---|---|
|||(3,756)|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.4.21|Cash flow|At 31.3.22|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|214,204|33,216|247,420|
||214,204|33,216|247,420|
|**Total**|214,204|33,216|247,420|
The notes form part of these financial statements
Page 10
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. PRESENTATION CURRENCY**
The financial statements are prepared and reported in GB Pound Sterling.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance and 4% on a straight line basis Computer equipment - 33% on a straight line basis
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 11
continued...
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **3. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
Other grants
**4.**
**OTHER TRADING ACTIVITIES**
Pool income
Swimshop income
Dryers and recharges
**5.**
**INVESTMENT INCOME**
Deposit account interest
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Charitable Activities
Grants received, included in the above, are as follows:
Annual operational support grant
Other grants
**7.**
**RAISING FUNDS**
**Other trading activities**
Opening stock
Purchases
Closing stock|2022
£
4,885
4,680
9,565
2022
£
4,680
2022
£
670,967
31,592
4,092
706,651
2022
£
-
2022
£
239,651
2022
£
100,001
129,930
229,931
2022
£
13,047
12,021
(8,193)
16,875|2021
£
28,827
268,222
297,049
2021
£
268,222
2021
£
64,872
1,708
2,136
68,716
2021
£
20
2021
£
246,536
2021
£
175,000
71,536
246,536
2021
£
14,082
-
(13,047)
1,035|
|---|---|---|
||||
Page 12
continued...
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **8. CHARITABLE ACTIVITIES COSTS**
|**8.**
**CHARITABLE ACTIVITIES COSTS**|||
|---|---|---|
|Charitable Activities
**9.**
**SUPPORT COSTS**
Finance
£
Charitable Activities
3,583|Support
Direct
costs (see
Costs
note 9)
£
£
851,416
54,744
Governance
Other
costs
£
£
40,357
10,804|Totals
£
906,160|
|||Totals
£
54,744|
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2022|2021|
|---|---|---|
||£|£|
|Auditors' remuneration|5,000|4,000|
|Depreciation - owned assets|20,285|18,951|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.
## **Trustees' expenses**
Expenses of £71 (2021 - £138) were paid to one trustee during the period as a reimbursement for costs incurred on behalf of the charity, relating to administration.
## **12. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average employees|2022
£
562,337
25,570
2,262
590,169
2022
49|2021
£
419,486
15,068
551|
|---|---|---|
|||435,105|
|||2021
43|
No employees received emoluments in excess of £60,000.
Page 13
continued...
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Charitable Activities
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Charitable Activities
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**14.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1st April 2021
Additions
At 31st March 2022
**DEPRECIATION**
At 1st April 2021
Charge for year
At 31st March 2022
**NET BOOK VALUE**
At 31st March 2022
At 31st March 2021|Unrestricted
funds
£
28,827
201,078
68,716
20
298,641
1,035
318,769
319,804
(21,163)
177,784
156,621
215,556
372,177
Plant and
machinery
£
269,132
53,996
323,128
42,365
19,880
62,245
260,883
226,767|Restricted
funds
£
268,222
45,458
-
-
313,680
-
277,579
277,579
36,101
(177,784)
(141,683)
187,141
45,458
Computer
equipment
£
990
224
1,214
330
405
735
479
660|Total
funds
£
297,049
246,536
68,716
20
612,321
1,035
596,348
597,383
14,938
-
14,938
402,697
417,635
Totals
£
270,122
54,220
324,342
42,695
20,285
62,980
261,362
227,427|Total
funds
£
297,049
246,536
68,716
20|
|---|---|---|---|---|
|||||612,321|
|||||1,035
596,348|
|||||597,383|
|||||14,938
-|
|||||14,938
402,697|
|||||417,635|
Page 14
continued...
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **15. STOCKS**
|2022
£
Stocks
8,193
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Prepayments and accrued income
9,720
Prepayments
1,205
10,925
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Social security and other taxes
6,936
Accrued expenses
70,497
77,433
**18.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
2022
£
Within one year
498
Between one and five years
1,744
2,242
**19.**
**MOVEMENT IN FUNDS**
Net
Transfers
movement
between
At 1.4.21
in funds
funds
£
£
£
**Unrestricted funds**
General fund
372,177
(13,267)
45,720
**Restricted funds**
Heating Distribution Plant
13,443
27,554
3,790
Restricted
32,015
18,545
(49,510)
45,458
46,099
(45,720)
**TOTAL FUNDS**
417,635
32,832
-|2021
£
13,047
2021
£
-
4,230
4,230
2021
£
4,360
36,913
41,273
2021
£
2,064
-
2,064
At
31.3.22
£
404,630
44,787
1,050|2021
£
13,047|2021
£
13,047|
|---|---|---|---|
|||2021
£
-
4,230||
|||4,230||
|||2021
£
4,360
36,913||
|||41,273||
||||2021
£
2,064
-|
||||2,064|
||45,837|||
||450,467|||
Page 15
continued...
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **19. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Heating Distribution Plant
Restricted
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Heating Distribution Plant
Restricted
**TOTAL FUNDS**|At 1.4.20
£
215,556
178,425
8,716
187,141
402,697|Incoming
resources
£
906,584
29,936
19,347
49,283
955,867
Net
movement
in funds
£
(21,163)
13,443
22,658
36,101
14,938|Resources
Movement
expended
in funds
£
£
(919,851)
(13,267)
(2,382)
27,554
(802)
18,545
(3,184)
46,099
(923,035)
32,832
Transfers
between
At
funds
31.3.21
£
£
177,784
372,177
(178,425)
13,443
641
32,015
(177,784)
45,458
-
417,635|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Heating Distribution Plant
Restricted
**TOTAL FUNDS**|Incoming
resources
£
298,641
13,443
300,237
313,680
612,321|Resources
Movement
expended
in funds
£
£
(319,804)
(21,163)
-
13,443
(277,579)
22,658
(277,579)
36,101
(597,383)
14,938|
|---|---|---|
Page 16
continued...
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022**
## **20. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2022.
Page 17
**FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Other trading activities**
Pool income
Swimshop income
Dryers and recharges
**Investment income**
Deposit account interest
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Opening stock
Swimshop purchases
Closing stock
**Charitable activities**
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Advertising & office costs
Cleaning & waste disposal
Repairs & renewals
**Support costs**
**Finance**
Bank charges
**Other**
Travel & subsistence
Sundries
Staff uniform
Staff training
Carried forward|2022
£
4,885
4,680
9,565
670,967
31,592
4,092
706,651
-
239,651
955,867
13,047
12,021
(8,193)
16,875
562,337
25,570
2,262
7,651
14,595
107,347
3,520
12,573
25,521
90,040
851,416
3,583
-
9,338
6,949
2,983
19,270|2021
£
28,827
268,222
297,049
64,872
1,708
2,136
68,716
20
246,536
612,321
14,082
-
(13,047)
1,035
419,486
15,068
551
14,492
18,388
51,203
2,555
5,937
6,280
24,163
558,123
1,670
23
4,729
20
1,273
6,045|
|---|---|---|
This page does not form part of the statutory financial statements
Page 18
## **FAVERSHAM SWIMMING POOLS MANAGEMENT COMMITTEE LTD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST MARCH 2022**|||
|---|---|---|
|**Other**
Brought forward
Plant and machinery
Computer equipment
Repayment of funds
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net income**|2022
£
19,270
19,880
405
802
40,357
5,000
5,804
10,804
923,035
32,832|2021
£
6,045
18,621
330
-|
|||24,996
4,000
7,559|
|||11,559|
|||597,383|
|||14,938|
This page does not form part of the statutory financial statements
Page 19