REGISTERED CHARITY NUMBER,. 1174631 REPORTOFTHE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 FOR WATERSIOE COMMUNifiTRU5T Bright Brown Limited Chartered Accountants Exchange House st. Cross Lane Newport Isle of Wight P030 5BZ WATER51DE COMMUNftYTRUSf CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Page Report of the Trustees Independent Examlner's Report Statement of Financlal Actlvitles Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Note5 to the Flnancial Statements 10 to 19 Detalled Statement of Flnanclal Artlvlt5es 20 to 21 WATERSIDE COMMUNITYTRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 30 Novernber 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2019). OBJEcfivES AND AcfiviTIES Objectlves and alms 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 Irustees in 2011 and run as a company limited by guarantee.. It celebrated its Soth blrthday in August 2023. Waterside Community Trust operates a 25m public swimmin8 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 Wlght and UK. The charity's objectives are to promote, for the benefit of the inhabltants of Ryde. Isle of Wight an(J the surroundlng area, the provision of facilities for recreation or other leisure time occupation of individ4Jals who have need of such facllitle5 by reason of their youth, age, infirmity or disablement, financial hardshlp or social and economic circumstance or for the public at large in the interests of social welfare and with the object of ImprovinB the condition of Ilfe of sald inhabitants. Maln objectives encompassing public benefit reflected in the accounts are :_ Swimming lessons for school students, individuals? groups and adult learners. Casu81 and lane swimming. Water aerobics cla55e51keep fit etc. Provlsion of leisure activity such as children's parties. Provision of water safety educatlon through Ilfeguardln& rookies and swlmming teacher programmes both at Ryde and on the malnland, Provlslon 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 swlmmers to go on to club level to compete as an elile swimmer under the umbrella of Waterside. Public beneflt The Trustee5 Of Waterside Community Trust are fully compliant with the rules governing charitable bodie5. Trustees obtaln no f inancial gain either monetary or in kind from serving as Trustees. Volunteers The Trustees give their time on a voluntary basis and encourage others wlthin the community to also volunteer. A Trustee, together with the general manager is responsible for coordinating the action of volunteer5. Page I WATERSIDE COMMUNITYTRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2024 ACHIEVEMEhrr AND PERFORMANCE Charltable activities The charity continues to provide swimming lessons for up to 1000 children per week. the limit the facility and our staffing provision can accommodate, and this remains the pool's prime source of revenue. Work has started to re-foof the changing rooms and plant room prior to the commencement of the above works. The Charity is instrumental aiding health in the community by providing lessons for 151and Schools and Aquaflt classes for all ages. The pool swimming programme provides varied session5 for 311 ages and abilities and is a major contrlbutor to the healthy recreation and mental well belng In the local community. The Charity contlnues to deliver beach lifeguarding in both Ryde and Sandown and has again been the beneficiary of grant alded equipment improving the speed and quality of the service provided. It also runs 'Rookie" beach Ilfeguardln8 for young people and tuition of beach safety. In addition, it runs lifeguarding tuition for trainee lifeguards both on and off the151e of Wlght. Our well-tralned management team lead by Todd Miller provides new recruits with practical lifeguardlng sk1115 to national standard, supplemented by a modular training pathway. The Trustees are proud of our staffin8 team and thank them for the care and tuition dellvered to our members and users. Between 2016 and 2.024 the Charity has provided full or part time employment to over 200 local people. Fundralsing a¢tlvStles The charity has been successful in obtaining grant funding to fit solar panels and replace its aging Heatstar recycling and Control system. Match grant fundlng has also been forthcoming to enable a refurbishment of the changing room5. FINANCIAL REVIEW Flnanclal posltlon Total income for the year amounted to £903,64212023 £624,628). The total cost of ralsing funds amounted to £14,56412023 £14,906) and the total cost of charitable activities amounted to £619,61312023 - £520, 1431. The net surplus for the year amounted to £269,46J12023 - £88,979) accounted for mainly by the grant Income). Unrestrlcted funds and restricted funds carried forward at the end of the year amounted to £673,814 and £6,869 respectlvely 12023 £393,718 and £11,500). At the ye