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2022-11-30-accounts

WATERSIDE COMMUNITY TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

REGISTERED CHARITY NUMBER: 1174631

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR

ENDED 30 NOVEMBER 2022 FOR

WATERSIDE COMMUNITY TRUST

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

WATERSIDE COMMUNITY TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

----- Start of picture text -----
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 18
Detailed Statement of Financial Activities 19 to 20
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WATERSIDE COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022

The trustees present their report with the financial statements of the charity for the year ended 30 November 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

The charity was established in 2017 as a CIO, with the constitution set out in its trust deed, to take over the running of the Waterside Pool in Ryde, rescued by some of the current trustees in 2011 and run as a company limited by guarantee.

Waterside Community Trust operates a 25m public swimming pool in a coastal seaside town. Ryde on Isle of Wight is a mixed community, but the pool is located in one of the most deprived wards on the Isle of Wight and UK.

The charity's objectives are to promote, for the benefit of the inhabitants of Ryde, Isle of Wight and the surrounding area, 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 disablement, financial hardship or social and economic circumstance or for the public at large in the interests of social welfare and with the object of improving the condition of life of said inhabitants.

Main objectives encompassing public benefit reflected in the accounts are :-

Public Benefit

The Trustees of Waterside Community Trust are fully compliant with the rules governing charitable bodies. Trustees obtain no financial gain either monetary or in kind from serving as Trustees.

Social Investments

It is policy that we offer a Community Swim session each week. This session is subsidized and targeted at low waged/unwaged.

Volunteers

The Trustees give their time on a voluntary basis and encourage others within the community to also volunteer. A Trustee, together with the general manager is responsible for coordinating the action of volunteers.

Page 1

WATERSIDE COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022

ACHIEVEMENT AND PERFORMANCE

Charitable Activities

The successful fund raising in the previous financial year has enabled the charity to carry out further maintenance work on its plant and equipment.

Members have returned and the investment made in on-line booking provides both casual swimmers, trainee swimmers and aqua trainees with easy access to our facilities.

The centre is providing a warm environment for the community, during the current energy crisis, enabling the population to improve and maintain their fitness and addressing the aftereffects of the Covid 19 lockdowns and infections.

The pool continues to provide circa. 1000 child swimming lessons each week, benefiting the local and wider community and providing a steady income stream. It also provides training for many Island schools both local and Island wide.

The Charity offers life guarding training to other facilities, both on and off the Island, and safe swimming guidance for schools and sea swimmers. It runs a beach lifeguarding service for Ryde and Sandown Town Councils, that has saved several lives during 2022.

One of the charity's greatest assets is its staff. Our well-trained management team provides new recruits with practical mentoring to a high standard, supplemented by a training pathway. Many of our leavers go onto a career in leisure or commerce from the foundation the charity has provided. The charity provides over 30, mainly young people, with employment on the Island.

In August 2022 the Island's Lord Lieutenant Mrs. Sheldon paid a visit to observe and learn first-hand the Charity's community work in action which included a visit to the then operational Ryde lifeguarding team.

Fundraising

Fundraising continues to be difficult in the post pandemic environment. Although we have been successful in some of our smaller specific bids, we have had budget carefully to live within our income.

FINANCIAL REVIEW

Financial Position

Total income for the year amounted to £573,353 (2021 - £546,341). The total cost of raising funds amounted to £16,436 (2021 - £8,674) and the total cost of charitable activities amounted to £538,618 (2021 - £382,690). The net surplus for the year amounted to £18,299 (2021 - £154,977 accounted for mainly by the grant income). Unrestricted funds and restricted funds carried forward at the end of the year amounted to £287,953 and £34,286 respectively (2021 - £218,094 and £85,846).

Investment Policy and Objectives

The Trust's invests, on short term deposit, funds surplus to foreseeable spending. Its social investment encompasses:

The social investment policy is clarified in the charity's Constitution.

Reserves Policy

The charity has designated £40k of its reserves to a specific fund to cover major mechanical failure. The Trust's free reserves of £228k, coupled with its business insurance, are considered adequate to cover a short-term disruption and its short-term strategic investments.

Page 2

WATERSIDE COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The principal risks facing the charity are:

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number

1174631

Principal Address

Waterside Pool, The Esplanade, Ryde, Isle of Wight. PO33 1JA

Trustees

M Haslam (Joint Chairman) A Kurowski (Joint Chairman) P C Taylor JP FCA (Treasurer) J N Sands Dr A Martin K Gentleman C Gauntlett I Jenkins M Marshall (resigned 25.3.22)

Independent Examiner

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

Approved by order of the Board of Trustees on 23[rd] May 2023 and signed on behald by:

M Haslam - Trustee

Page 3

WATERSIDE COMMUNITY TRUST

Independent examiner's report to the trustees of Waterside Community Trust

I report to the charity trustees on my examination of the accounts of Waterside Community Trust (the Trust) for the year ended 30 November 2022.

Responsibilities and Basis of Report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 ERROR - relevant professional body must be completed, which is one of the 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:

  1. Accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do 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 that the accounts give a true and fair view which is not a matter considered as part of 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.

David Stevens

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

Date: 23[rd] June

Page 4

WATERSIDE COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022

Unrestricted
INCOME AND ENDOWMENTS FROM
Notes
funds
£
Donations and legacies
2
16,385
Charitable activities
Provision of recreational facilities
5
504,181
Other trading activities
3
11,679
Investment income
4
16,397
Other income
8,603
Total
557,245
EXPENDITURE ON
Raising funds
6
16,436
Charitable activities
Provision of recreational facilities
7
512,747
Total
529,183
NET INCOME/(EXPENDITURE)
28,062
Transfers between funds
19
41,797
Net movement in funds
69,859
RECONCILIATION OF FUNDS
Total funds brought forward
218,094
TOTAL FUNDS CARRIED FORWARD
287,953		 Restricted
fund
£
16,108
-
-
-
-
16,108
-
25,871
25,871
(9,763)
(41,797)
(51,560)
85,846
34,286		 2022
Total
funds
£
32,493
504,181
11,679
16,397
8,603
573,353
16,436
538,618
555,054
18,299
-
18,299
303,940
322,239		 2021
Total
funds
£
223,455
298,458
7,086
11,818
5,524
546,341
8,674
382,690
391,364
154,977
-
154,977
148,963
303,940

The notes form part of these financial statements

Page 5

WATERSIDE COMMUNITY TRUST

BALANCE SHEET 30 NOVEMBER 2022

2022 2021
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 13 53,134 - 53,134 62,298
CURRENT ASSETS
Stocks 14 7,924 - 7,924 6,135
Debtors 15 7,834 - 7,834 11,488
Cash at bank and in hand 337,548 34,286 371,834 349,099
353,306 34,286 387,592 366,722
CREDITORS
Amounts falling due within one year 16 (85,987) - (85,987) (82,580)
NET CURRENT ASSETS 267,319 34,286 301,605 284,142
TOTAL ASSETS LESS CURRENT LIABILITIES 320,453 34,286 354,739 346,440
CREDITORS
Amounts falling due after more than one year 17 (32,500) - (32,500) (42,500)
NET ASSETS 287,953 34,286 322,239 303,940
FUNDS 19
Unrestricted funds 287,953 218,094
Restricted funds 34,286 85,846
TOTAL FUNDS 322,239 303,940

The financial statements were approved by the Board of Trustees and authorised for issue on 23[rd] May 2023 and were signed on its behalf by:

M Haslam - Trustee

P C Taylor - Trustee

The notes form part of these financial statements

Page 6

WATERSIDE COMMUNITY TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing 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
£
43,341
(313)
43,028
(13,007)
(1)
215
(12,793)
-
(7,500)
(7,500)
22,735
349,099
371,834		 2021
£
186,715
-
186,715
(43,092)
-
24
(43,068)
50,000
-
50,000
193,647
155,452
349,099

The notes form part of these financial statements

Page 7

WATERSIDE COMMUNITY TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2022 2021
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 18,299 154,977
Adjustments for:
Depreciation charges 22,171 15,124
Loss on disposal of fixed assets 1 8,569
Interest received (215) (24)
Interest paid 313 -
(Increase)/decrease in stocks (1,789) 493
Decrease/(increase) in debtors 3,654 (2,744)
Increase in creditors 907 10,320
Net cash provided by operations 43,341 186,715

2.

ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.21 Cash flow At 30.11.22
£ £ £
Net cash
Cash at bank and in hand 349,099 22,735 371,834
349,099 22,735 371,834
Debt
Debts falling due within 1 year (7,500) (2,500) (10,000)
Debts falling due after 1 year (42,500) 10,000 (32,500)
(50,000) 7,500 (42,500)
Total 299,099 30,235 329,334

The notes form part of these financial statements

Page 8

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. 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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs that relate to a particular activity are allocated directly, others are apportioned between activities in line with their respective proportion of the total incoming resources.

Tangible fixed assets

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

Freehold property - 3 - 10 years on cost
Plant and machinery - 3 - 10 years on cost

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 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.

continued...

Page 9

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2022 2021
£ £
Donations and gifts 9,515 6,664
Grants 19,513 214,495
Membership subscriptions and sponsorships 3,465 2,296
32,493 223,455

Grants received, included in the above, are as follows:

2022 2021
£ £
Ryde Town Council - 76,667
Isle of Wight County Council 3,200 37,125
All Terrain Vehicle - 8,000
Marquee - 3,669
National Leisure Recovery Fund - 87,630
PUG Monies - 1,404
Southern Water 8,000 -
National Lottery 7,500 -
Bounce Back Loan Interest 313 -
SMART Training 500 -
19,513 214,495
OTHER TRADING ACTIVITIES
2022 2021
£ £
Food and shop sales 11,679 7,086

3. OTHER TRADING ACTIVITIES

Food and shop sales

continued...

Page 10

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

4. INVESTMENT INCOME Rental income Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES

4. INVESTMENT INCOME
2022 2021
£ £
Rental income 16,182 11,794
Deposit account interest 215 24
16,397 11,818
5. INCOME FROM CHARITABLE ACTIVITIES
2022 2021
Activity £ £
Membership swimming Provision of recreational facilities 105,461 59,812
Individual swimming Provision of recreational facilities 80,313 45,513
Swimming lessons Provision of recreational facilities 232,083 120,773
Pool hire Provision of recreational facilities 33,226 17,498
Lifeguarding, splash park and
courses Provision of recreational facilities 53,098 54,862
504,181 298,458
6. RAISING FUNDS
Raising donations and legacies
2022 2021
£ £
Postage and stationery 2,757 289
Advertising and marketing 1,064 2,274
Licencing costs 3,235 1,828
7,056 4,391
Other trading activities
2022 2021
£ £
Purchases 9,380 4,283
Aggregate amounts 16,436 8,674

continued...

Page 11

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

7. CHARITABLE ACTIVITIES COSTS

Direct Costs Direct Costs Grant
Funding of
Activities
(see note 8)		 Support
Costs
(see note 9)		 Totals
Provision of Recreational Facilities £329,926 £7,500 £201,192 £538,618
GRANTS PAYABLE
Support
Grant Funding of Activities Costs
(see note 8) (see note
9)
2022 2021
Provision of Recreational Facilities £7,500 -
The total grants paid to institutions during the year was as follows:
2022 2021
£ £
Sandown Town Council 7,500 -

8. GRANTS PAYABLE

9.

SUPPORT COSTS

Governance
Management Other costs Totals
£ £ £ £
Provision of recreational facilities 24,000 170,494 6,698 201,192

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no Trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021.

Trustees' Expenses

There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021.

11. STAFF COSTS

STAFF COSTS
2022 2021
£ £
Wages and salaries 289,438 204,472
Social security costs 4,843 6,411
Other pension costs 2,577 2,479
296,858 213,362

continued...

Page 12

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

11. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Management
Charitable Activities
Administration		 2022
2021
2
2
39
33
2
1
43
36

No employees received emoluments in excess of £60,000.

The general manager is considered key management personnel. The total employee benefits for this post were £42,667.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total
funds fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 121,956 101,499 223,455
Charitable activities
Provision of recreational facilities 298,458 - 298,458
Other trading activities 7,086 - 7,086
Investment income 11,818 - 11,818
Other income 5,524 - 5,524
Total 444,842 101,499 546,341
EXPENDITURE ON
Raising funds 8,674 - 8,674
Charitable activities
Provision of recreational facilities 344,247 38,443 382,690
Total 352,921 38,443 391,364
NET INCOME 91,921 63,056 154,977
Transfers between funds (15,338) 15,338 -
Net movement in funds 76,583 78,394 154,977
RECONCILIATION OF FUNDS
Total funds brought forward 141,511 7,452 148,963
TOTAL FUNDS CARRIED FORWARD 218,094 85,846 303,940

continued...

Page 13

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

13. TANGIBLE FIXED ASSETS

13. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£ £ £
COST
At 1 December 2021 22,114 100,323 122,437
Additions 3,162 9,845 13,007
Disposals - (5,560) (5,560)
At 30 November 2022 25,276 104,608 129,884
DEPRECIATION
At 1 December 2021 17,580 42,559 60,139
Charge for year 1,300 20,870 22,170
Eliminated on disposal - (5,559) (5,559)
At 30 November 2022 18,880 57,870 76,750
NET BOOK VALUE
At 30 November 2022 6,396 46,738 53,134
At 30 November 2021 4,534 57,764 62,298
14. STOCKS
2022 2021
£ £
Stocks 7,924 6,135
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 6,071 9,683
Other debtors - 204
Prepayments 1,763 1,601
7,834 11,488

continued...

Page 14

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts (see note 18) 10,000 7,500
Trade creditors 14,308 11,077
Taxation and social security 4,064 1,656
Other creditors 57,615 62,347
85,987 82,580
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Bank loans (see note 18) 32,500 42,500

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

An unsecured £50,000 loan was taken out in February 2021 under the government backed Bounce Back Loan Scheme.

18. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 2022
£
10,000
10,000
22,500
-		 2021
£
7,500
10,000
30,000
2,500

continued...

Page 15

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

19. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
At movement between At
1.12.21 in funds funds 30.11.22
£ £ £ £
Unrestricted funds
General fund 178,094 28,062 41,797 247,953
Replacement reserve 40,000 - - 40,000
218,094 28,062 41,797 287,953
Restricted funds
Restricted fund 85,846 (9,763) (41,797) 34,286
TOTAL FUNDS 303,940 18,299 - 322,239
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 557,245 (529,183) 28,062
Restricted funds
Restricted fund 16,108 (25,871) (9,763)
TOTAL FUNDS 573,353 (555,054) 18,299

Comparatives for movement in funds

Unrestricted funds
General fund
Replacement reserve
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
Transfers
At
movement
between
At
1.12.20
in funds
funds
30.11.21
£
£
£
£
101,511
91,921
(15,338)
178,094
40,000
-
-
40,000
141,511
91,921
(15,338)
218,094
7,452
63,056
15,338
85,846
148,963
154,977
-
303,940

continued...

Page 16

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 444,842 (352,921) 91,921
Restricted funds
Restricted fund 101,499 (38,443) 63,056
TOTAL FUNDS 546,341 (391,364) 154,977

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Replacement reserve
Restricted funds
Restricted fund
TOTAL FUNDS		 At
Net
movement
Transfers
between
At
1.12.20
£
in funds
£
funds
£
30.11.22
£
101,511
119,983
26,459
247,953
40,000
-
-
40,000
141,511
119,983
26,459
287,953
7,452
53,293
(26,459)
34,286
148,963
173,276
-
322,239

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

Incoming
resources
£
Unrestricted funds
General fund
1,002,087
Restricted funds
Restricted fund
117,607
TOTAL FUNDS
1,119,694		 Resources
expended
£
Movement
in funds
£
(882,104)
119,983
(64,314)
53,293
(946,418)
173,276

continued...

Page 17

WATERSIDE COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 NOVEMBER 2022

20. RELATED PARTY DISCLOSURES

£85 was paid to a trustee during the year in respect of a balance owing at the start of the year. There were no other related party transactions during the year. At the end of the year, the balance owed to trustees amounted to £nil (2021- £85).

continued...

Page 18

WATERSIDE COMMUNITY TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifts
Grants
Membership subscriptions and sponsorships
Other trading activities
Food and shop sales
Investment income
Rental income
Deposit account interest
Charitable activities
Membership swimming
Individual swimming
Swimming lessons
Pool hire
Lifeguarding, splash park and courses
Other income
Other income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Postage and stationery
Advertising and marketing
Licencing costs
Other trading activities
Food and shop purchases		 2022
£
9,515
19,513
3,465
32,493
11,679
16,182
215
16,397
105,461
80,313
232,083
33,226
53,098
504,181
8,603
573,353
2,757
1,064
3,235
7,056
9,380		 2021
£
6,664
214,495
2,296
223,455
7,086
11,794
24
11,818
59,812
45,513
120,773
17,498
54,862
298,458
5,524
546,341
289
2,274
1,828
4,391
4,283

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Page 19

WATERSIDE COMMUNITY TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022

Other trading activities
Charitable activities
Wages
Social security
Pensions
Light and heat
Training and uniform
Repairs and renewals
Cleaning
Badges and certificates
Loss on sale of tangible fixed assets
Grants to institutions
Support costs
Management
Wages
Other
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Travel
Computer costs
Repairs and renewals
Bank charges
Freehold property
Plant and machinery
Loss on sale of tangible fixed assets
Bank loan interest
Governance costs
Independent examiners' fees
Independent examiners' fees prior year
Legal and professional fees
Total resources expended
Net income		 2022
£
265,438
4,843
2,577
57
28,822
9,824
15,327
3,038
-
7,500
337,426
24,000
5,894
7,907
48,030
314
1,591
3,814
658
5,224
63,406
11,171
1,300
20,871
1
313
170,494
900
160
5,638
6,698
555,054
18,299		 2021
£
183,772
6,411
2,479
160
17,384
6,308
11,141
-
8,569
-
236,224
20,700
3,345
8,110
44,109
27
1,771
2,251
431
5,586
33,143
4,191
783
14,341
-
-
118,088
800
660
6,218
7,678
391,364
154,977

This page does not form part of the statutory financial statements

Page 20