**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
**----- End of picture text -----**
**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 :- - **Swimming lessons for school students, individuals, groups and adult learners.** - **Casual and lane swimming.** - **Water aerobics classes/keep fit etc.** - **Provision of leisure activity such as children's parties.** - **Provision of water safety education through lifeguarding, rookies and swimming teacher programmes both at Ryde and on the mainland.** - **Provision of seasonal beach lifeguard patrols (separate contracts with Ryde Town Council and Sandown Town Council)** - **Provision as a talent feeder into Ryde Swimming Club, now an integral part of the charity and streamlining talented swimmers to go on to club level to compete as an elite swimmer under the umbrella of Waterside.** ## **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: - **School and individual swimming lessons** - **Aquafit for elderly client base** - **A 'sensory swim' class for a disabled group** - **Swim safety training** - **Lifeguard training for both adults and children** 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: - Catastrophic mechanical or structural failure. - Major increase in energy costs. The Charity is looking at ways this risk can be mitigated. - A risk register is maintained highlighting major and minor risk to our business. ## **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| This page does not form part of the statutory financial statements 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