**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.
- Energy bills have reduced
- A revised insurance policy has freed £40,000 to invest in developing a gym facility
- A grant of £21,000 from the government Swimming Pool Fund has been used to increase size of the solar panel array
- Public donations of £27,000 and eight fund raising events.
The trustees and staff have worked effectively to improve the efficiency of the redeveloped pool building.
- Completion of the building contract and all snagging
- Installation of B4RN fibre broadband including telephones at a discounted community asset rate
- Regular inspection and maintenance schedules
- Improved relations with North Yorkshire Council.
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
3. 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
4. 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
- (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.
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