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2021-12-31-accounts

Company No. CEO11107

The Saltdean Lido Trust

Report and Financial Statements For the year ended 31 December 2021

Registered Charity number: 1173503 (England and Wales)

SALTDEAN LIDO TRUST LEGAL & ADMINISTRATIVE INFORMATION

Trustees D Bailey
D Chester
S Horrox
D Leaver
P Shepherd
Charity Number 1173503
Company Number CEO11107
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 2021

The Trustees present their Annual report, together with the financial statements for Saltdean Lido Trust for the year to 31 December 2021.

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

Activities

During 2021 the Charity received a number of grants and donations to support its aims. The Charity's Subsidiary (Saltdean Lido CIC) was awarded full Permission to Start from the National Lottery Heritage Fund. Major restoration works on the main Saltdean Lido building commenced shortly after the end of the reporting period. The Trustees consider that the Charity is now well placed, in conjunction with Saltdean Lido CIC, to complete 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

1

SALTDEAN LIDO TRUST

FOR THE YEAR ENDED 31 DECEMBER 2021

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 2021 of £30,699 (2020: £310,514).

Expenditure for the year totaled £28,550 (2020: £6,575), which mostly comprised donations to a related

The charity report a surplus on activities for the year to 31 December 2021 of £2,149 (2020: £303,939).

As at 31 December 2021, the charity held reserves of £458,202 (2019: £456,053) consisting of restricted funds of £230,800 (2020: £220,000), designated funds of £200,000 (2020: £225,000) and unrestricted funds of £27,402 (2020: £11,053).

Reserves policy

The Trustees have a policy to retain minimum free reserves equal to twelve months' estimated minimum overheads (currently estimated at £4,000) to ensure future sustainability.

Unrestricted reserves at 31 December 2021 totaled £27,402 (2020: £11,053). The trustees therefore consider the charity to be operating in line with the reserves policy.

Future Plans

The charity plans on continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

2

SALTDEAN LIDO TRUST

FOR THE YEAR ENDED 31 DECEMBER 2021

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:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent; and

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: 6 July 2022

Signed on behalf of the board of trustees

D Leaver Trustee

Charity number: 1173503

3

SALTDEAN LIDO TRUST

REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 DECEMBER 2021

I report to the trustees on my examination of the accounts of the Saltdean Lido Trust (the Trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements

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.

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:

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 FCA, DChA

On behalf of TC Group

The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN United Kingdom

Dated: 7 July 2022

4

SALTDEAN LIDO TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Income from:
Donations and grants
2
Investment income
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 2021
Fund balances at 31
December 2021
11		 Unrestricted
funds
£
19,844
55
19,899
216
3,993
4,209
15,690
659
-
16,639
11,053
27,402		 Restricted
funds
£
10,800
-
10,800
-
-
-
10,800
-
-
10,800
220,000
230,800		 Designated
funds
£
-
-
-
-
24,341
24,341
(24,341)
-
(659)
(25,000)
225,000
200,000		 Total
2021
£
30,644
55
30,699
216
28,334
28,550
2,149
659
(659)
2,149
456,053
458,202		 Total
2020
£
310,514
-
310,514
234
6,341
6,575
303,939
125,000
(125,000)
303,939
152,114
456,053

All activities are classed as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities.

5

AS AT 31 DECEMBER 2021

SALTDEAN LIDO TRUST

BALANCE SHEET

Notes
Current Assets
Cash at bank and in hand
Debtors
7
Creditors: amounts falling due within one year
8
Net current assets
Net assets
Funds
11
Unrestricted funds
Restricted funds
9
Designated funds
10
TOTAL FUNDS		 2021
£
459,081
441
459,522
(1,320)
458,202
458,202
27,402
230,800
200,000
458,202		 2020
£
457,303
-
457,303
(1,250)
456,053
456,053
11,053
220,000
225,000
456,053

The accounts were approved by the Board of Trustees on 6 July 2022

D Leaver

Trustee

Charity number: 1173503

6

SALTDEAN LIDO TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

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.

7

SALTDEAN LIDO TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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

rustees are required to make judgements, estimates and 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.

8

SALTDEAN LIDO TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 INCOME FROM DONATIONS & GRANTS

Donations
Grants
Total		 2021
£
19,844
10,800
30,644		 2020
£
104,627
205,887
310,514

3 EXPENDITURE

Raising funds
Charitable activities
Charitable projects
Activities undertaken directly
Support costs (note 4)
Total
Total		 Grants
Payable
£
-
24,341
-
24,341
24,341		 Other
costs
£
216
1,003
2,990
3,993
4,209		 2021
£
216
25,344
2,990
28,334
28,550		 2020
£
234
4,262
2,079
6,341
6,575

Grants payable consists entirely of grants payable to Saltdean Lido CIC.

4 SUPPORT COSTS

Insurance
Other support
Governance costs		 2021
£
713
957
1,320
2,990		 2020
£
498
31
1,350
2,079

Governance costs includes amounts payable in respect of accountancy/independent examination fees of £1,320 (2020: £1,250).

9

SALTDEAN LIDO TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FUNDS PERIOD ENDED 31 DECEMBER 2020

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
£
10,514
10,514
234
6,341
6,575
3,939		 Designated
funds
£
100,000
100,000

-

-
-
100,000		 Restricted
funds
£
200,000
200,000
-
-
-
200,000		 Total
2020
£
310,514
310,514
234
6,341
6,575
303,939

6

There was no trustee remuneration or other benefits or reimbursement of trustee expenditure for the year ended 31 December 2021 nor for the year ended 31 December 2020.

7 DEBTORS
Prepaid expenditure		 2021
£
441
441		 2020
£
-
-
8 CREDITORS - amounts falling due within one year
Accrued expenditure		 2021
£
1,320
1,320		 2020
£
1,250
1,250

10

SALTDEAN LIDO TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

9 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
2021
£
20,000
200,000
220,000		 Movement
Income
£
-
10,800
10,800		 in funds
Expenditure
£
-
-
-		 Balance at
31 December
2021
£
20,000
210,800
230,800

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.

10 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:

Lido building
Other project support
External grounds		 Balance at
1 January
2021
£
200,000
19,854
5,146
225,000		 Movement in funds
Income
Expenditure
£
£
-
-
-
(19,854)
-
(4,487)
-
(24,341)		 Transfers
£
-
-
(659)
(659)		 Balance at
31 December
2021
£
200,000
-
-
200,000

Lido Building

This is to support the funding requirements of the main building project.

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. The residual balance was transferred to unrestricted funds at the year end.

11

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

SALTDEAN LIDO TRUST

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 December 2021
are represented by:
Current assets
Creditors: amounts falling due within
one year
Fund balances at 31 December 2020
are represented by:
Current assets
Creditors: amounts falling due within
one year		 Unrestricted
funds
£
28,722
(1,320)
27,402
Unrestricted
funds
£
12,303
(1,250)
11,053		 Restricted
funds
£
230,800
-
230,800
Restricted
funds
£
220,000
-
220,000		 Designated
funds
£
200,000
-
200,000
Designated
funds
£
225,000
-
225,000		 December
2021
Total
£
459,522
(1,320)
458,202
December
2020
Total
£
457,303
(1,250)
456,053

12 RELATED PARTY TRANSACTIONS

During the year the charity made a grant of £24,341 to Saltdean Lido CIC (2020: £4,137). During 2020 the Charity received a donation from Saltdean Lido CIC totaling £100,000 (2021: £Nil).

There were no other related party transactions during the period to 31 December 2021 (period to 31 December 2020: £nil).

13 CONTROL

The charity is under the control of the Trustees.

12

SALTDEAN LIDO TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 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		 2021
£
504,429
(296,892)
207,537
(40,241)
167,296
92,860		 2020
£
398,478
(390,630)
7,848
(2,233)
5,615
(74,436)

15 CHARITY INFORMATION

registered number and registered office address can be found on the legal and administrative information page.

13