**REGISTERED CHARITY NUMBER: 1174631** 

## **REPORT OF THE TRUSTEES AND** 

## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **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 2025** 


**----- Start of picture text -----**<br>
Page<br>Report of the Trustees 1 to 3<br>Independent Examiner's Report 4<br>Statement of Financial Activities 5<br>Balance Sheet 6<br>Cash Flow Statement 7<br>Notes to the Cash Flow Statement 8<br>Notes to the Financial Statements 9 to 19<br>Detailed Statement of Financial Activities 20 to 21<br>**----- End of picture text -----**<br>




**WATERSIDE COMMUNITY TRUST** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025** 

The trustees present their report with the financial statements of the charity for the year ended 30 November 2025.  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.. It celebrated its 50th birthday in August 2023. 

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, rooky training, 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). - Facilitating Ryde Swimming Club, now an integral part of the charity aiming to streamline talented swimmers to go  on to club level to compete as an elite swimmer in the UK under the umbrella of Waterside. 

## **Public benefit** 

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

## **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. 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **Charitable activities** 

The charity continues to provide swimming lessons for circa. 1000 children per week, the limit the facility and our staffing provision can accommodate, and this remains the pool's prime source of revenue. 

The Charity is instrumental in aiding health in the community by providing lessons for Island Schools and Aquafit classes for all ages. The pool swimming programme provides varied sessions for all ages and abilities and is a major contributor to the healthy recreation and mental well being in the local community. 

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**WATERSIDE COMMUNITY TRUST** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **Charitable activities - continued** 

The Charity continues to deliver beach lifeguarding in both Ryde and Sandown. It also runs "Rookie" beach lifeguarding for young people and tuition of beach safety. In addition, it runs lifeguarding tuition for trainee lifeguards both on and off the Isle of Wight. 

Our well-trained management team lead by Todd Miller provides new recruits with essential lifeguarding skills to a national standard, supplemented by a modular training pathway addressing any wider educational needs. The Trustees are proud of our staffing team and thank them for the care and tuition delivered to our members and users. 

## **Fundraising activities** 

During the year the Charity received funding from Sport England and the Community Ownership Fund which combined with its own funds enabled the re-roofing of the changing rooms, the plant room and complete refurbishment of the main changing room facility, the installation of solar panels and the replacement of the Heatstar, made on the Isle of Wight enabling both air and water to be recycled. The renovated facility was officially opened by HM Lord Lieutenant Mrs S Sheldon on 3 December 2025. 

## **FINANCIAL REVIEW** 

## **Financial position** 

Total income for the year amounted to £772,590 (2024 - £903,642). The total cost of raising funds amounted to £12,219 (2024 - £14 **,** 564) and the total cost of charitable activities amounted to £638,287 (2025 - £619,613). The net surplus for the year amounted to £122,084 (2025 - £269,465). These figures are influenced by grant income received in both years and the increased depreciation charge following the refurbishment of the changing facilities. Unrestricted funds and restricted funds carried forward at the end of the year amounted to £797,861 and £4,896 respectively (2024 -  £673,814 and £6,869). 

At the end of the year, £nil (2024 - £260,000) was designated to the replacement reserve, £nil (2024 - £254,000) was designated to the changing room refurbishment fund and £596,869 (2024 - £nil) was designated to the tangible fixed assets fund. The remaining balance of £201,002 (2024 - £159,814) is held as free reserves. 

## **Investment policy and objectives** 

The Trust 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 

- Beach swim safety training supported by Southern Water 

- Lifeguard training for both adults and children 

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

## **Reserves policy** 

It has been agreed by the Trustees that a sum equivalent to six months unrestricted operational costs is kept in  reserve. At the year end, the amount held in free reserves was lower than that required by our reserves policy and we are looking to build the reserve towards our target. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

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

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**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 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 2025. 

## **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 Institute of Chartered Accountants in England and Wales, 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: ............................................. 

Page 4 



**WATERSIDE COMMUNITY TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025** 

|Unrestricted<br>funds<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>9,834<br>**Charitable activities**<br>5<br>Provision of recreational facilities<br>582,651<br>Other trading activities<br>3<br>13,182<br>Investment income<br>4<br>25,025<br>Other income<br>12,619<br>**Total**<br>643,311<br>**EXPENDITURE ON**<br>Raising funds<br>6<br>12,219<br>**Charitable activities**<br>7<br>Provision of recreational facilities<br>634,670<br>**Total**<br>646,889<br>**NET INCOME/(EXPENDITURE)**<br>(3,578)<br>**Transfers between funds**<br>18<br>127,635<br>**Net movement in funds**<br>124,057<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>673,814<br>**TOTAL FUNDS CARRIED FORWARD**<br>797,871|Restricted<br>funds<br>£<br>129,279<br>-<br>-<br>-<br>-<br>129,279<br>-<br>3,617<br>3,617<br>125,662<br>(127,635)<br>(1,973)<br>6,869<br>4,896|2025<br>Total<br>funds<br>£<br>139,113<br>582,651<br>13,182<br>25,025<br>12,619<br>772,590<br>12,219<br>638,287<br>650,506<br>122,084<br>-<br>122,084<br>680,683<br>802,767|2024<br>Total<br>funds<br>£<br>276,012<br>572,516<br>11,980<br>26,518<br>16,616<br>903,642<br>14,564<br>619,613<br>634,177<br>269,465<br>-<br>269,465<br>411,218<br>680,683|
|---|---|---|---|



The notes form part of these financial statements 

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**WATERSIDE COMMUNITY TRUST** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2025** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Cash flows from financing activities**<br>Loan repayments in year<br>Net cash used in financing activities<br>**Change in cash and cash equivalents in the**<br>**reporting period**<br>**Cash and cash equivalents at the beginning**<br>**of the reporting period**<br>**Cash and cash equivalents at the end of the**<br>**reporting period**|2025<br>£<br>185,060<br>185,060<br>(595,209)<br>7,608<br>(587,601)<br>(10,000)<br>(10,000)<br>(412,541)<br>706,130<br>293,589|2024<br>£<br>285,560<br>285,560<br>(34,128)<br>9,918<br>(24,210)<br>(10,000)<br>(10,000)<br>251,350<br>454,780<br>706,130|
|---|---|---|



The notes form part of these financial statements 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2025** 

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

|**Net income for the reporting period (as per the Statement of Financial**<br>**Activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Loss on disposal of fixed assets<br>Interest received<br>Increase in stocks<br>Increase in debtors<br>Increase in creditors<br>**Net cash provided by operations**|2025<br>£<br>122,084<br>60,840<br>284<br>(7,608)<br>(2,073)<br>(2,277)<br>13,810<br>185,060|2024<br>£<br>269,465<br>23,074<br>-<br>(9,918)<br>(3,149)<br>(3,721)<br>9,809<br>285,560|
|---|---|---|



**2. ANALYSIS OF CHANGES IN NET FUNDS** 

|**Net cash**<br>Cash at bank and in hand|At 1.12.24<br>Cash flow<br>At 30.11.25<br>£<br>£<br>£<br>706,130<br>(412,541)<br>293,589|
|---|---|
||706,130<br>(412,541)<br>293,589|
|**Debt**<br>Debts falling due within 1 year<br>Debts falling due after 1 year|(10,000)<br>-<br>(10,000)<br>(12,500)<br>10,000<br>(2,500)|
||(22,500)<br>10,000<br>(12,500)|
|**Total**|683,630<br>(402,541)<br>281,089|



The notes form part of these financial statements 

Page 8 



**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **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. 

## **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. 

## **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. 

continued... 

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**WATERSIDE COMMUNITY TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 


**----- Start of picture text -----**<br>
2. DONATIONS AND LEGACIES<br>2025 2024<br>£ £<br>Donations and gifts  6,506 5,566<br>Grants 129,279 266,860<br>Membership subscriptions and sponsorships  3,328 3,586<br>139,113 276,012<br>Grants received, included in the above, are as follows:<br>2025 2024<br>£ £<br>Isle of Wight County Council  644 -<br>-<br>Energise Me  3,500<br>-<br>Locality 9,360<br>-<br>Ministry of Housing, Communities & Local Government  254,000<br>-<br>Isle of Wight Distillery  1,000<br>-<br>Sport England  127,635<br>129,279 266,860<br>3. OTHER TRADING ACTIVITIES<br>2025 2024<br>£ £<br>Food and shop sales  13,182 11,980<br>4. INVESTMENT INCOME<br>2025 2024<br>£ £<br>Rental income  17,417 16,600<br>Deposit account interest  7,608 9,918<br>25,025 26,518<br>**----- End of picture text -----**<br>


continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **5. INCOME FROM CHARITABLE ACTIVITIES** 

|Activity<br>Membership swimming<br>Provision of recreational facilities<br>Individual swimming<br>Provision of recreational facilities<br>Swimming lessons<br>Provision of recreational facilities<br>Pool hire<br>Provision of recreational facilities<br>Lifeguarding, splash park and<br>courses<br>Provision of recreational facilities<br>**6.**<br>**RAISING FUNDS**<br>**Raising donations and legacies**<br>Postage and stationery<br>Advertising and marketing<br>Licencing costs<br>**Other trading activities**<br>Purchases<br>Aggregate amounts<br>**7.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Direct<br>Costs<br>£<br>Provision of recreational facilities<br>381,766|2025<br>£<br>103,425<br>79,644<br>300,542<br>40,738<br>58,302<br>582,651<br>2025<br>£<br>1,039<br>3,559<br>1,649<br>6,247<br>2025<br>£<br>5,972<br>12,219<br>Support<br>costs (see<br>note 8)<br>£<br>256,521|2024<br>£<br>101,440<br>83,415<br>290,164<br>34,947<br>62,550<br>572,516<br>2024<br>£<br>1,866<br>2,432<br>2,623<br>6,921<br>2024<br>£<br>7,643<br>14,564<br>Totals<br>£<br>638,287|
|---|---|---|



continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **8. SUPPORT COSTS** 

|Management<br>£<br>Provision of recreational facilities<br>35,400<br>Support costs, included in the above, are as follows:<br>Wages<br>Rates and water<br>Insurance<br>Light and heat<br>Postage and stationery<br>Sundries<br>Travel<br>Computer costs<br>Repairs and renewals<br>Bank charges<br>Depreciation of tangible fixed assets<br>Loss on sale of tangible fixed assets<br>Independent examiners' fees<br>Independent examiners' fees prior year<br>Legal and professional fees|Governance<br>Other<br>costs<br>£<br>£<br>212,927<br>8,194<br>2025<br>Provision<br>of<br>recreational<br>facilities<br>£<br>35,400<br>8,898<br>9,869<br>66,946<br>1,904<br>1,456<br>634<br>8,017<br>35,128<br>18,951<br>60,840<br>284<br>1,680<br>360<br>6,154<br>256,521|Totals<br>£<br>256,521<br>2024<br>Total<br>activities<br>£<br>33,600<br>10,121<br>10,121<br>88,418<br>1,496<br>1,582<br>1,077<br>8,176<br>35,675<br>19,083<br>23,074<br>-<br>1,320<br>340<br>14,006<br>248,089|
|---|---|---|



## **9. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 30 November 2025 nor for the year ended 30 November 2024. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 30 November 2025 nor for the year ended 30 November 2024. 

continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **10. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Management<br>Charitable activities<br>Administration||2025<br>£<br>360,636<br>4,888<br>3,774<br>369,298<br>2025<br>1<br>41<br>2<br>44||2024<br>£<br>347,221<br>5,666<br>2,205<br>355,092<br>2024<br>1<br>42<br>2<br>45|
|---|---|---|---|---|



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 £49,678. 

## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>funds<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>263,152<br>**Charitable activities**<br>Provision of recreational facilities<br>572,516<br>Other trading activities<br>11,980<br>Investment income<br>26,518<br>Other income<br>9,116<br>**Total**<br>883,282<br>**EXPENDITURE ON**<br>Raising funds<br>14,564<br>**Charitable activities**<br>Provision of recreational facilities<br>608,657<br>**Total**<br>623,221<br>**NET INCOME**<br>260,061<br>**Transfers between funds**<br>20,035|Restricted<br>funds<br>£<br>12,860<br>-<br>-<br>-<br>7,500<br>20,360<br>-<br>10,956<br>10,956<br>9,404<br>(20,035)|Total<br>funds<br>£<br>276,012<br>572,516<br>11,980<br>26,518<br>16,616<br>903,642<br>14,564<br>619,613<br>634,177<br>269,465<br>-|
|---|---|---|



continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 


**----- Start of picture text -----**<br>
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued<br>Unrestricted Restricted Total<br>funds funds funds<br>£ £ £<br>Net movement in funds  280,096 (10,631) 269,465<br>RECONCILIATION OF FUNDS<br>Total funds brought forward  393,718 17,500 411,218<br>TOTAL FUNDS CARRIED FORWARD  673,814 6,869 680,683<br>12. TANGIBLE FIXED ASSETS<br>Freehold Plant and<br>property machinery Totals<br>£ £ £<br>COST<br>At 1 December 2024  32,955 142,753 175,708<br>Additions 441,926 153,283 595,209<br>-<br>Disposals (11,918) (11,918)<br>At 30 November 2025  474,881 284,118 758,999<br>DEPRECIATION<br>At 1 December 2024  17,112 95,812 112,924<br>Charge for year  31,197 29,643 60,840<br>-<br>Eliminated on disposal  (11,634) (11,634)<br>At 30 November 2025  48,309 113,821 162,130<br>NET BOOK VALUE<br>At 30 November 2025  426,572 170,297 596,869<br>At 30 November 2024  15,843 46,941 62,784<br>13. STOCKS<br>2025 2024<br>£ £<br>Stocks 14,969 12,896<br>**----- End of picture text -----**<br>


continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

|**14.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Prepayments<br>**15.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Bank loans and overdrafts (see note 17)<br>Trade creditors<br>Taxation and social security<br>Other creditors<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>Bank loans (see note 17)|2025<br>£<br>7,989<br>954<br>8,943<br>2025<br>£<br>10,000<br>8,502<br>9,135<br>81,466<br>109,103<br>2025<br>£<br>2,500|2024<br>£<br>4,512<br>2,154<br>6,666<br>2024<br>£<br>10,000<br>20,349<br>2,905<br>62,039<br>95,293<br>2024<br>£<br>12,500|
|---|---|---|



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

## **17. LOANS** 

An analysis of the maturity of loans is given below: 

|Amounts falling due within one year on demand:<br>Bank loans<br>Amounts falling between one and two years:<br>Bank loans - 1-2 years<br>Amounts falling due between two and five years:<br>Bank loans - 2-5 years|2025<br>£<br>10,000<br>2,500<br>-|2024<br>£<br>10,000<br>10,000<br>2,500|
|---|---|---|



continued... 

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**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **18. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>Replacement reserve<br>Changing room refurbishment<br>Tangible fixed assets<br>**Restricted funds**<br>Restricted fund<br>Sport England<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are a<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>Sport England<br>**TOTAL FUNDS**|At<br>1.12.24<br>£<br>159,814<br>260,000<br>254,000<br>-<br>673,814<br>6,869<br>-<br>6,869<br>680,683<br>s follows:|Net<br>movement<br>in funds<br>£<br>(3,578)<br>-<br>-<br>-<br>(3,578)<br>(1,973)<br>127,635<br>125,662<br>122,084<br>Incoming<br>resources<br>£<br>643,311<br>1,644<br>127,635<br>129,279<br>772,590|Transfers<br>between<br>At<br>funds<br>30.11.25<br>£<br>£<br>44,766<br>201,002<br>(260,000)<br>-<br>(254,000)<br>-<br>596,869<br>596,869<br>127,635<br>797,871<br>-<br>4,896<br>(127,635)<br>-<br>(127,635)<br>4,896<br>-<br>802,767<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(646,889)<br>(3,578)<br>(3,617)<br>(1,973)<br>-<br>127,635<br>(3,617)<br>125,662<br>(650,506)<br>122,084|
|---|---|---|---|



continued... 

Page 16 



**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **18. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>Replacement reserve<br>Changing room refurbishment<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|At<br>1.12.23<br>£<br>293,718<br>100,000<br>-<br>393,718<br>17,500<br>411,218|Net<br>movement<br>in funds<br>£<br>6,061<br>-<br>254,000<br>260,061<br>9,404<br>269,465|Transfers<br>between<br>funds<br>£<br>(139,965)<br>160,000<br>-<br>20,035<br>(20,035)<br>-|At<br>30.11.24<br>£<br>159,814<br>260,000<br>254,000<br>673,814<br>6,869<br>680,683|
|---|---|---|---|---|



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

|**Unrestricted funds**<br>General fund<br>Changing room refurbishment<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>629,282<br>254,000<br>883,282<br>20,360<br>903,642|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(623,221)<br>6,061<br>-<br>254,000<br>(623,221)<br>260,061<br>(10,956)<br>9,404<br>(634,177)<br>269,465|
|---|---|---|



continued... 

Page 17 



**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **18. MOVEMENT IN FUNDS - continued** 

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

|**Unrestricted funds**<br>General fund<br>Replacement reserve<br>Changing room refurbishment<br>Tangible fixed assets<br>**Restricted funds**<br>Restricted fund<br>Sport England<br>**TOTAL FUNDS**|At<br>1.12.23<br>£<br>293,718<br>100,000<br>-<br>-<br>393,718<br>17,500<br>-<br>17,500<br>411,218|Net<br>movement<br>in funds<br>£<br>2,483<br>-<br>254,000<br>-<br>256,483<br>7,431<br>127,635<br>135,066<br>391,549|Transfers<br>between<br>funds<br>£<br>(95,199)<br>(100,000)<br>(254,000)<br>596,869<br>147,670<br>(20,035)<br>(127,635)<br>(147,670)<br>-|At<br>30.11.25<br>£<br>201,002<br>-<br>-<br>596,869<br>797,871<br>4,896<br>-<br>4,896<br>802,767|
|---|---|---|---|---|



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

|**Unrestricted funds**<br>General fund<br>Changing room refurbishment|Incoming<br>Resources<br>Movement<br>resources<br>expended<br>in funds<br>£<br>£<br>£<br>1,272,593<br>(1,270,110)<br>2,483<br>254,000<br>-<br>254,000|
|---|---|
|**Restricted funds**<br>Restricted fund<br>Sport England|1,526,593<br>(1,270,110)<br>256,483<br>22,004<br>(14,573)<br>7,431<br>127,635<br>-<br>127,635|
||149,639<br>(14,573)<br>135,066|
|**TOTAL FUNDS**|1,676,232<br>(1,284,683)<br>391,549|



## **Transfers between funds** 

During the year, the following amounts were transferred between funds: 

£254,000 was transferred from the changing room refurbishment fund to the general fund. This represents amounts received as designated income towards the cost of changing room refurbishments, the costs for  which were incurred during the year and are included in fixed asset additions. The use of the refurbished changing rooms will be for unrestricted charitable activities. 

continued... 

Page 18 



**WATERSIDE COMMUNITY TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025** 

## **18. MOVEMENT IN FUNDS - continued** 

## **Transfers between funds - continued** 

£127,635 was transferred from the Sport England fund to the general fund. This represents amounts received as restricted income towards the cost of replacing the Heatstar and installing solar panels, the costs for which were incurred during the year and are included in fixed asset additions. The use of the Heatstar and solar panels will be for unrestricted charitable activities. 

£260,000 was transferred from the replacement reserve to the general fund. Following the refurbishment of the changing facilities and replacement of the Heatstar, the trustees consider this designated fund is no longer required. 

£596,869 was transferred from the general fund to the tangible fixed assets fund. This amount represents the net book value of tangible fixed assets less any liabilities owing in relation to those assets as at the year end. 

## **19. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 30 November 2025. 

Page 19 



**WATERSIDE COMMUNITY TRUST** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations and gifts<br>Grants<br>Membership subscriptions and sponsorships<br>**Other trading activities**<br>Food and shop sales<br>**Investment income**<br>Rental income<br>Deposit account interest<br>**Charitable activities**<br>Membership swimming<br>Individual swimming<br>Swimming lessons<br>Pool hire<br>Lifeguarding, splash park and courses<br>**Other income**<br>Other income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Raising donations and legacies**<br>Postage and stationery<br>Advertising and marketing<br>Licencing costs<br>**Other trading activities**<br>Food and shop purchases|2025<br>£<br>6,506<br>129,279<br>3,328<br>139,113<br>13,182<br>17,417<br>7,608<br>25,025<br>103,425<br>79,644<br>300,542<br>40,738<br>58,302<br>582,651<br>12,619<br>772,590<br>1,039<br>3,559<br>1,649<br>6,247<br>5,972|2024<br>£<br>5,566<br>266,860<br>3,586<br>276,012<br>11,980<br>16,600<br>9,918<br>26,518<br>101,440<br>83,415<br>290,164<br>34,947<br>62,550<br>572,516<br>16,616<br>903,642<br>1,866<br>2,432<br>2,623<br>6,921<br>7,643|
|---|---|---|



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Page 20 



**WATERSIDE COMMUNITY TRUST** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025** 

|**Other trading activities**<br>**Charitable activities**<br>Wages<br>Social security<br>Pensions<br>Training and uniform<br>Repairs and renewals<br>Cleaning<br>Badges and certificates<br>**Support costs**<br>**Management**<br>Wages<br>**Other**<br>Rates and water<br>Insurance<br>Light and heat<br>Postage and stationery<br>Sundries<br>Travel<br>Computer costs<br>Repairs and renewals<br>Bank charges<br>Freehold property<br>Plant and machinery<br>Loss on sale of tangible fixed assets<br>**Governance costs**<br>Independent examiners' fees<br>Independent examiners' fees prior year<br>Legal and professional fees<br>Total resources expended<br>**Net income**|2025<br>£<br>325,236<br>4,888<br>3,774<br>21,277<br>6,405<br>12,333<br>7,853<br>381,766<br>35,400<br>8,898<br>9,869<br>66,946<br>1,904<br>1,456<br>634<br>8,017<br>35,128<br>18,951<br>31,197<br>29,643<br>284<br>212,927<br>1,680<br>360<br>6,154<br>8,194<br>650,506<br>122,084|2024<br>£<br>313,621<br>5,666<br>2,205<br>19,798<br>8,934<br>16,810<br>4,490<br>371,524<br>33,600<br>10,121<br>10,121<br>88,418<br>1,496<br>1,582<br>1,077<br>8,176<br>35,675<br>19,083<br>3,318<br>19,756<br>-<br>198,823<br>1,320<br>340<br>14,006<br>15,666<br>634,177<br>269,465|
|---|---|---|



This page does not form part of the statutory financial statements 

Page 21