OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Settle Area Swimming Pool

2024-03-31-accounts

REGISTERED COMPANY NUMBER: CEO10412 (England and Wales) REGISTERED CHARITY NUMBER: 1171790

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Settle Area Swimming Pool

Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ

Settle Area Swimming Pool

Contents of the Financial Statements for the year ended 31 March 2024

Page
Chairman's Report 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15 to 16

Settle Area Swimming Pool

Chairman's Report for the year ended 31 March 2024

After a series of difficulties caused by financial crises, a global pandemic, destructive weather events and staff shortages, Settle Area Swimming Pool started to justify its new title "more than just a pool". The progress was brought up short by the invasion of Ukraine and the consequent six-fold increase in energy bills. At the start of 2024 the trustees decided to hold an Open Evening to explain the scale of the threat and listen to any suggestions. More than a hundred members of the public attended, and the trustees established a fund-raising group to consider suggestions.

Since that event the pool has taken steps to ensure that it operates on a sounder financial footing.

The trustees and staff have worked effectively to improve the efficiency of the redeveloped pool building.

The regular programme of trustee change means that new volunteers are urgently needed to add to the more than forty who provide the income from fund raising and the two charity shops without which the pool could not survive.

Colin Coleman Chair of Board of Trustees

Page 1

Settle Area Swimming Pool

Report of the Trustees for the year ended 31 March 2024

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 31 March 2024. 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

To promote for the benefit of the inhabitants of Settle and the surrounding area the provision of facilities for the recreation or other leisure time activity for individuals who have need of such facilities by reason of their youth, age, infirmity, disablement, financial hardship or social economic circumstance. It is for the public at large in the interest of social and mental welfare with the objective of improving the lives of the aforementioned inhabitants.

FINANCIAL REVIEW

Reserves policy

The pool needs to generate a surplus in order to maintain a cash contingency fund of three months running costs.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document and constitution

The charity was established as a Charitable Incorporated Organisation and was registered with the Charity Commission on 12th February 2017

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CEO10412 (England and Wales)

Registered Charity number

1171790

Registered office

Kendal Road Giggleswick Settle North Yorkshire BD24 0BU

Trustees

C Coleman - Chair R Sanderson - Treasurer R I Crossley K A Galloway I Orton - Secretary C Hirst M J Smith R A Brown K Mason (resigned 4.7.23) E Owen (appointed 18.5.23) (deceased 1.5.24) C Moorehead

Independent Examiner

Michael William Procter FCA Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ

Page 2

Settle Area Swimming Pool

Report of the Trustees for the year ended 31 March 2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ C Coleman - Trustee

Page 3

Independent Examiner's Report to the Trustees of Settle Area Swimming Pool

Independent examiner's report to the trustees of Settle Area Swimming Pool ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and 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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts 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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michael William Procter FCA

Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ

Date: .............................................

Page 4

Settle Area Swimming Pool

Statement of Financial Activities

for the year ended 31 March 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
44,013
Charitable activities
Admission charges
232,935
Other income
59,374
Direct charitable expenditure
-
Other trading activities
2
110,342
Investment income
3
276
Total
446,940
EXPENDITURE ON
Raising funds
15,162
Charitable activities
Direct charitable expenditure
545,010
Total
560,172
NET INCOME/(EXPENDITURE)
(113,232)
RECONCILIATION OF FUNDS
Total funds brought forward
393,927
TOTAL FUNDS CARRIED FORWARD
280,695		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 31.3.24
Total
funds
£
44,013
232,935
59,374
-
110,342
276
446,940
15,162
545,010
560,172
(113,232)
393,927
280,695		 31.3.23
Total
funds
£
132,221
68,513
175,437
(94)
85,266
91
461,434
6,163
405,218
411,381
50,053
343,874
393,927

The notes form part of these financial statements

Page 5

Settle Area Swimming Pool

Balance Sheet

31 March 2024

Notes
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Stocks
8
Debtors
9
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
11
ACCRUALS AND DEFERRED INCOME
13
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
915,948
3,576
9,362
93,400
106,338
(71,810)
34,528
950,476
(299,576)
(370,205)
280,695		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 31.3.24
Total
funds
£
915,948
3,576
9,362
93,400
106,338
(71,810)
34,528
950,476
(299,576)
(370,205)
280,695
280,695
280,695		 31.3.23
Total
funds
£
940,835
3,406
133,402
42,249
179,057
(73,658)
105,399
1,046,234
(273,539)
(378,768)
393,927
393,927
393,927

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

Settle Area Swimming Pool

Balance Sheet - continued 31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. C Coleman - Trustee

............................................. R Sanderson - Trustee

The notes form part of these financial statements

Page 7

Settle Area Swimming Pool

Notes to the Financial Statements for the year ended 31 March 2024

1. 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 and irrecoverable vat

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.

Irrecoverable VAT is charged as a cost against the activity for which teh expenditure was incurred.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life,

Plant & machinery - 20% per annum on cost Building - 2% per annum on cost

Depreciation commenced on the building when it was completely opened fully for use and enjoyment. The grants as deferred will be amortised over the same period of 2% per annum.

Tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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 are available to spend on activities that further any of the purposes of the Charity at the discretion of the Trustees..

Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for future capital expenditure on the pool.

continued...

Page 8

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds are grants and donations which the donor or grant giving body has specified are to be solely used for a particular purpose within the objectives of the Charity.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Grants and donations

Grants and donations are recognised in the Statement of Financial Activities when entitlement is established.

Grants and donations for which there are no conditions attached are treated as income in the period which they become receivable.

Grants and donations received for specific purposes are included in Restricted Funds. Grants received for the purpose of asset acquisition are treated as deferred income which is credited to the profit and loss account by instalments over the expected useful economic life of the related assets on a basis consistent with the depreciation policy commencing once the asset has been brought into use.

Covid-19 Government Grants are accounted for under the accrual model as follows:-.

Grants received relating to revenue are recognised as income on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate.

Grants received to give immediate financial support are recognised as income in the period in which they become receivable.

2. OTHER TRADING ACTIVITIES

Shop sales
3.
INVESTMENT INCOME
Deposit account interest
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.3.24
£
110,342
31.3.24
£
276
31.3.24
£
31,526		 31.3.23
£
85,266
31.3.23
£
91
31.3.23
£
16,780

continued...

Page 9

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
132,221
Charitable activities
Admission charges
68,513
Other income
175,437
Direct charitable expenditure
(94)
Other trading activities
85,266
Investment income
91
Total
461,434
EXPENDITURE ON
Raising funds
6,163
Charitable activities
Direct charitable expenditure
405,218
Total
411,381
NET INCOME
50,053
Transfers between funds
94,763
Net movement in funds
144,816
RECONCILIATION OF FUNDS
Total funds brought forward
249,111
TOTAL FUNDS CARRIED FORWARD
393,927		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
(94,763)
(94,763)
94,763
-		 Total
funds
£
132,221
68,513
175,437
(94)
85,266
91
461,434
6,163
405,218
411,381
50,053
-
50,053
343,874
393,927

continued...

Page 10

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

7.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 April 2023
911,540
Additions
-
At 31 March 2024
911,540
DEPRECIATION
At 1 April 2023
7,596
Charge for year
18,231
At 31 March 2024
25,827
NET BOOK VALUE
At 31 March 2024
885,713
At 31 March 2023
903,944
8.
STOCKS
Stocks
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments and accrued income
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 12)
Other loans (see note 12)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses		 Plant and
machinery
£
64,933
6,639
71,572
28,042
13,295
41,337
30,235
36,891
31.3.24
£
3,576
31.3.24
£
6,942
2,131
289
9,362
31.3.24
£
4,540
31,326
19,345
2,410
470
13,719
71,810		 Totals
£
976,473
6,639
983,112
35,638
31,526
67,164
915,948
940,835
31.3.23
£
3,406
31.3.23
£
1,043
11,716
120,643
133,402
31.3.23
£
5,310
42,700
17,670
2,737
265
4,976
73,658

continued...

Page 11

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

----- Start of picture text -----
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Bank loans (see note 12)|32,596|36,107| |Other loans (see note 12)|266,980|237,432| |299,576|273,539|

----- End of picture text -----

12. LOANS

Other loans comprise an unsecured community loans from nine individuals, payable in twelve monthly instalments after 1st April 2025 which will include accrued interest at 2%. It also comprises an unsecured loan from craven district council, payable in sixteen monthly instalments after 1st October 2022 which will include accrued interest at 6%. The final unsecured loan is from Key Fund Investments Ltd, payable in one hundred and twenty one monthly instalments after 1st August 2022 which will include accrued interest at 3.95%.

The bank loan is secured by a Government supported guarantee against the outstanding facility balance.

13. ACCRUALS AND DEFERRED INCOME

----- Start of picture text -----
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Deferred grants|370,205|378,768|

----- End of picture text -----

The grants were received for the building project and will be amortised over twenty years in line with the rate of depreciation of the building once it has been completed and brought into use.

14. MOVEMENT IN FUNDS

----- Start of picture text -----
||||| |---|---|---|---| |Net| |movement|At| |At 1.4.23|in funds|31.3.24| |£|£|£| |Unrestricted funds| |General fund|393,927|(113,232)|280,695| |TOTAL FUNDS|393,927|(113,232)|280,695| |Net movement in funds, included in the above are as follows:| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |Unrestricted funds| |General fund|446,940|(560,172)|(113,232)| |TOTAL FUNDS|446,940|(560,172)|(113,232)|

----- End of picture text -----

continued...

Page 12

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
249,111
50,053
Restricted funds
Restricted fund
94,763
-
TOTAL FUNDS
343,874
50,053
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
461,434
TOTAL FUNDS
461,434
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
249,111
(63,179)
Restricted funds
Restricted fund
94,763
-
TOTAL FUNDS
343,874
(63,179)		 Transfers
between
At
funds
31.3.23
£
£
94,763
393,927
(94,763)
-
-
393,927
Resources
Movement
expended
in funds
£
£
(411,381)
50,053
(411,381)
50,053

Transfers
between
At
funds
31.3.24
£
£
94,763
280,695
(94,763)
-
-
280,695

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
908,374
908,374		 Resources
Movement
expended
in funds
£
£
(971,553)
(63,179)
(971,553)
(63,179)

continued...

Page 13

Settle Area Swimming Pool

Notes to the Financial Statements - continued for the year ended 31 March 2024

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 14

Settle Area Swimming Pool

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Shop sales
Investment income
Deposit account interest
Charitable activities
Admission charges
Miscellaneous receipts
Total incoming resources
EXPENDITURE
Raising donations and legacies
Shop costs
Charitable activities
Wages
Rent and rates
Insurance
Light and heat
Telephone
Advertising and promotion
Sundries
Water costs
Training
Repairs
Chemicals and pool supplies
Subscription
Partial exemption adjustment
Depreciation of tangible fixed assets
Support costs
Finance
Bank charges
Carried forward		 Detailed Statement of Financial Activities
for the year ended 31 March 2024
31.3.24
31.3.23
£
£
36,393
32,879
7,620
99,342
44,013
132,221
110,342
85,266
276
91
232,935
68,419
59,374
175,437
292,309
243,856
446,940
461,434
15,162
5,213
248,372
138,822
15,886
11,229
60,074
31,888
78,352
46,634
1,491
707
950
6,800
3,828
5,709
5,001
2,947
11,996
9,957
27,031
29,263
5,688
10,911
-
400
21,404
64,975
31,526
16,780
511,599
377,022
1,319
323
1,319
323

This page does not form part of the statutory financial statements

Page 15

Settle Area Swimming Pool

Finance
Brought forward
Bank loan interest
Loan
Governance costs
Administration costs
Accountancy and legal fees
Professional fees
Independent examiners fee
Total resources expended
Net (expenditure)/income		 Detailed Statement of Financial Activities
for the year ended 31 March 2024
31.3.24
31.3.23
£
£
1,319
323
598
1,110
15,475
10,885
17,392
12,318
2,535
5,855
1,528
1,124
10,506
8,379
1,450
1,470
16,019
16,828
560,172
411,381
(113,232)
50,053

This page does not form part of the statutory financial statements

Page 16