Charity No. 1173503 Company No. CEO11107
SALTDEAN LIDO TRUST
TRUSTEES' REPORT AND ACCOUNTS
YEAR ENDED 31 DECEMBER 2020
SALTDEAN LIDO TRUST
LEGAL & ADMINISTRATIVE INFORMATION
Trustees D Bailey D Chester S Horrox D Leaver P Shepherd Charity Number 1173503 Company Number CEO111107 Principal Address The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Independent examiners TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bankers HSBC plc 1 Warwick Street Worthing West Sussex BN11 3DE
SALTDEAN LIDO TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Report of the Independent Examiner | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the accounts | 7 - 13 |
SALTDEAN LIDO TRUST
FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their Annual report, together with the financial statements for Saltdean Lido Trust for the year to 31 December 2020.
The accounts comply with the Charities Act 2011, and 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 2015).
Structure, Governance & Management
on 21 June 2017. The charity was registered with the Charity Commission on the 21 June 2017 (Charity number 1173503).
Organisational structure
During the period, the Board of Trustees consisted of the following individuals:
D Chester S Horrox P Shepherd D Bailey D Leaver
The Board members, who are all volunteers, come from a wide variety of backgrounds and possess skills that are relevant to the work of the organisation.
Objectives & Activities
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1) To provide or assist in the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life, in particular the provision and maintenance of an open air pool and recreation area (the "lido") for the use of inhabitants of the Brighton and Hove & Lewes district and visitors to the area.
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2) To advance the education of the public in the history and heritage of Saltdean, the Saldean lido and the grade ii* listed building connected to the lido in particular by preserving and maintaining the building and providing educational visits, talks and lectures on the history and heritage of the Saltdean lido and the town of Saltdean.
Activities
During 2020 the Charity's finances were strengthened by a number of grants and donations. The end of 2020 saw CIC) has been granted a lease on the site and received a partial Permisison to Start from the National Lottery Heritage Fund. The Trustees consider that the Charity is now well placed, in conjunction with Saltdean Lido CIC, to further progress the project to restore the building.
Public Benefit
In accordance with our duties as stated in section 17(5) of the 2011 Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit has been demonstrated by the activities undertaken since
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SALTDEAN LIDO TRUST
FOR THE YEAR ENDED 31 DECEMBER 2020
Risk Management
The Board of Trustees holds overall responsibility for Risk Management for the organisation and has conducted a review of the major risks to which the organisation is exposed. Consequently and where appropriate, systems or procedures have been established to manage the risks that the Charity faces.
Financial Review
The charity reports total income for the year ended 31 December 2020 of £310,514 (period to 31 December 2019: £35,086).
Resources expended for the year totaled £6,575 (period to December 2019: £22,624), which mostly comprised
The charity report a surplus on activities for the year to 31 December 2020 of £303,939 (period to December 2019: £12,462).
As at 31 December 2020, the charity held reserves of £456,053 (2019: £152,114) consisting of restricted funds of £220,000 (2019: £20,000), designated funds of £225,000 (2019: £nil) and unrestricted funds of £11,053 (2019: £132,114).
Reserves policy
Since the end of the reporting period the Trustees have established a policy to retain minimum free reserves equal to twelve months' estimated minimum overheads (currently estimated at £2,000).
Unrestricted reserves at 31 December 2020 totaled £11,053 (31 December 2019: £132,114).
Future Plans
The charity plans on continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.
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SALTDEAN LIDO TRUST
FOR THE YEAR ENDED 31 DECEMBER 2020
accounts
The Charities Act 2011 requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the board on: 20 August 2021
Signed on behalf of the board of trustees
D Leaver Trustee
Charity number: 1173503
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SALTDEAN LIDO TRUST
REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 DECEMBER 2020
I report to the trustees on my examination of the accounts of the Saltdean Lido Trust (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the
accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Since the Charity gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, both of which are listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in accordance with section 130 of the Charities Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement an independent examination.
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.
Jonathan Aikens ACA, DChA
On behalf of TC Group
The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN United Kingdom
Dated: 13 September 2021
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SALTDEAN LIDO TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes Income from: Donations and grants 2 Total income Expenditure on: 3 Raising funds Charitable activities Charitable projects Total expenditure Net income Transfers between funds: Gross transfers in Gross transfers out Net movement in funds Fund balances at 1 January 2020 Fund balances at 31 December 2020 10 |
Unrestricted funds £ 10,514 10,514 234 6,341 6,575 3,939 - (125,000) (121,061) 132,114 11,053 |
Restricted funds £ 200,000 200,000 - - - 200,000 - - 200,000 20,000 220,000 |
Designated funds £ 100,000 100,000 - - - 100,000 125,000 - 225,000 - 225,000 |
Total 2020 £ 310,514 310,514 234 6,341 6,575 303,939 125,000 (125,000) 303.939 152,114 456,053 |
Total 2019 £ 35,086 |
|---|---|---|---|---|---|
| 35,086 | |||||
| 762 21,862 |
|||||
| 22,624 | |||||
| 12,462 | |||||
| - - |
|||||
| - 139,652 152,114 |
All activities are classed as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities.
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SALTDEAN LIDO TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2020
| Notes Current Assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Net assets Funds 10 Unrestricted funds Restricted funds 8 Designated funds 9 TOTAL FUNDS |
2020 £ 457,303 457,303 (1,250) 456,053 456,053 11,053 220,000 225,000 456,053 |
2019 £ 153,597 |
|---|---|---|
| 153,597 | ||
| (1,483) | ||
| 152,114 | ||
| 152,114 | ||
| 132,114 20,000 - 152,114 |
The accounts were approved by the Board of Trustees on 20 August 2021.
[D Leaver]
Trustee
Charity number: 1173503
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SALTDEAN LIDO TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of financial statements are as follows:
1.1 Basis of accounting
The accounts have been prepared in accordance with 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 2015) (Charities SORP (FRS 102)) and the Charities Act 2011.
Saltdean Lido Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The trustees have not prepared consolidated accounts on the basis that group income is below £1,000,000.
1.2 Preparation of the accounts on a going concern basis
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This includes taking into account any potential impact of the COVID-19 pandemic.
going concern basis has been adopted for the preparation of these financial statements.
1.3 Income
Grants and donations are credited to the SoFA when the charity becomes entitled to the income, the income can be measured reliably and it becomes possible that the income will be received. Whereby a grant is subject to donor imposed conditions, (i.e. they are performance related or the donor specifies the time period in which the funds must be spent), the income is recognised in line with such donor imposed conditions.
1.4 Expenditure
Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item of expense to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs (included within support costs) include those costs associated with meeting the constitutional and statutory requirements of the charity and include examination fees and costs linked to the strategic management of the charity. These are included within support costs.
All costs are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned based on estimated usage as a proportion of directly attributable expenditure.
1.5 Cash Flow Statement
In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.
1.6 Taxation
As a charity, Saltdean Lido Trust is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
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SALTDEAN LIDO TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
ACCOUNTING POLICIES (continued)
1.7 Fund accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees and which have not been designated for other purposes.
Restricted funds - these are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.
Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects..
1.8 Cash at bank and in hand
Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposits or similar account.
1.9 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
1.10 Critical accounting estimates and judgements
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
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SALTDEAN LIDO TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
2 INCOME FROM DONATIONS & GRANTS
| Donations Grants Total |
2020 £ 104,627 205,887 310,514 |
2019 £ 28,086 7,000 |
|---|---|---|
| 35,086 |
3 EXPENDITURE
| Raising funds Charitable activities Charitable projects Activities undertaken directly Support costs (note 4) Total Total |
Grants Payable £ - 4,137 - 4,137 4,137 |
Other costs £ 234 125 2,079 2,204 2,438 |
2020 £ 234 4,262 2,079 6,341 6,575 |
2019 £ 762 19,000 2,862 |
|---|---|---|---|---|
| 21,862 | ||||
| 22,624 |
Grants payable consists entirely of grants payable to Saltdean Lido CIC.
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SALTDEAN LIDO TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
4 SUPPORT COSTS
| Insurance Other support Governance costs |
2020 £ 498 331 1,250 2,079 |
2019 £ 846 816 1,200 2,862 |
|---|---|---|
Governance costs includes amounts payable in respect of accountancy/independent examination fees of £1,250 (period to December 2019: £1,200).
5 STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FUNDS PERIOD ENDED 31 DECEMBER 2019
| Notes Income from: Donations and Grants 2 Total income Expenditure on: Raising funds Charitable activities Charitable Projects Total expenditure: 3 Net income/net movement in funds |
Unrestricted funds £ 35,086 35,086 762 21,862 22,624 12,462 |
Restricted funds £ - - - - - - |
Total 2019 £ 35,086 |
|---|---|---|---|
| 35,086 | |||
| 762 21,862 |
|||
| 22,624 12,462 |
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There was no trustee remuneration or other benefits or reimbursement of trustee expenditure for the year ended 31 December 2020 nor for the year ended 31 December 2019.
| 7 CREDITORS - amounts falling due within one year Accrued expenditure Trade creditors |
2020 £ 1,250 - 1,250 |
2019 £ 1,200 283 1,483 |
|---|---|---|
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
SALTDEAN LIDO TRUST
8 RESTRICTED FUNDS
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Professional fees Restoration of Saltdean Lido |
Balance at 1 January 2020 £ 20,000 - 20,000 |
Movement Income £ - 200,000 200,000 |
in funds Expenditure £ - - - |
Balance at 31 December 2020 £ 20,000 200,000 220,000 |
|---|---|---|---|---|
Professional fees
This is for use towards the professional fees for the Saltdean Lido main building designs to RIBA stage 4.
Restoration of Saltdean Lido
This is for use towards the restoration of Saltdean Lido.
9 DESIGNATED FUNDS
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| NHLF Other project support External grounds |
Balance at 1 January 2020 £ - - - - |
Movement Income £ 200,000 19,854 5,146 225,000 |
in funds Expenditure £ - - - - |
Balance at 31 December 2020 £ 225,000 19,854 5,146 225,000 |
|---|---|---|---|---|
NHLF
This is in support of the funding shortfall for the building renovation.
Other project support
This is for costs outside of the scope of the NHLF grant.
External grounds
This is for disabled equipment planned for the pool users.
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SALTDEAN LIDO TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 December 2020 are represented by: Current assets Creditors: amounts falling due within one year |
Unrestricted funds £ 12,303 (1,250) 11,053 |
Restricted funds £ 220,000 - 220,000 |
Designated funds £ 225,000 - 225,000 |
December 2020 Total £ 457,303 (1,250) 456,053 |
|---|---|---|---|---|
| Fund balances at 31 December 2019 are represented by: Current assets Creditors: amounts falling due within one year |
Unrestricted funds £ 133,597 (1,483) 132,114 |
Restricted funds £ 20,000 - 20,000 |
December 2019 Total £ 153,597 (1,483) 152,114 |
|---|---|---|---|
11 RELATED PARTY TRANSACTIONS
On 17 March 2019 it was resolved that Saltdean Lido Trust be accepted as a member of Saltdean Lido CIC, a company that D Chester, P Shepherd, D Leaver and D Bailey (trustees of the charity) are also directors.
During the year the charity made a grant of £4,137 to Saltdean Lido CIC (2019: £19,000). During the year the Charity received a donation from Saltdean Lido CIC totaling £100,000 (2019: £nil)
There were no other related party transactions during the period to 31 December 2020 (period to 31 December 2019: £nil).
12 CONTROL
The charity is under the control of the Trustees.
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
SALTDEAN LIDO TRUST
13 SUBSIDIARY
On 17 March 2019 it was resolved that Saltdean Lido Trust be accepted as a member of Saltdean Lido CIC, a company that D Chester, P Shepherd, D Leaver and D Bailey (trustees of the charity) are also directors.
The activity of the subsidiary has not been consolidated within these accounts on the basis that group income does not exceed £1m.
The company's registered office and principal address are the same as the principal address of Saltdean Lido Trust.
| Total income Total expenditure Profit before tax Tax charge Profit/(loss) after tax Reserves |
2020 £ 398,478 (390,630) 7,848 (2,233) 5,615 (74,436) |
2019 £ 315,688 (253,983) |
|---|---|---|
| 61,705 (6,803) |
||
| 54,902 (80,051) |
14 CHARITY INFORMATION
registered number and registered office address can be found on the legal and administrative information page.
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