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2024-09-30-accounts

Draft Financial Statements at 16 May 2025 at 11:20:35

Charity registration number 1175386

Company registration number 08593193 (England and Wales)

CHELMSFORD CITY SWIMMING CLUB LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees R Ackers (Appointed 29 January 2024)
C Howell
J Doubleday
M Low
J Walker (Appointed 3 June 2024)
Secretary L Burns
Charity number 1175386
Company number 08593193
Registered office Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
UK
CM1 1GU
Independent examiner Mark Philpott BFP FCA
Affinia (Chelmsford)
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
CM1 1GU

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

CONTENTS

Page
Trustees' report 1 - 5
Statement of trustees' responsibilities 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 18

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024

The trustees present their annual report and financial statements for the year ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). This report also serves as a directors' report as required by the Companies Act 2006.

Objectives and activities

The Charity's objects are specifically restricted to the promotion of community participation in amateur sport by the teaching, development and the practice of the art of swimming in all its disciplines, including artistic swimming, water polo and life saving for the benefit of the inhabitants of Chelmsford and its surrounding area.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Chelmsford City Swimming Club (CCSC) has continued to thrive and grow in 2024, maintaining its reputation as a leading swimming club in the country. All sections including competitive swimming, artistic swimming, water polo and masters swimming continue to grow and thrive.

Swimming

Masters

The section continues to rebuild after a difficult transition through Covid. The current leadership is doing a really good job and this includes putting on a great Masters gala. I’d like to just add that the Masters swimmer that became very ill is stable in hospital and credit goes out to all the Riverside staff and members of our club that helped to save the gentleman’s life.

Artistic

The section has had another really strong and positive year and continues to go from strength to strength under the current leadership. The section gained fantastic success in the Combo cup finishing 2nd overall. Team medals of all colours were won at Regionals as well as eight individual medals.

Water polo

The section continues to grow and thrive under the current leadership and it is really pleasing that a section that was struggling a few years ago is going from strength to strength. The women’s section in particular is showing real potential.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

Challenges

Financial review

Financial Performance

The Board has effectively managed the club's finances, ensuring that resources are allocated efficiently to maximize the benefits for our members.

The financial statements to September 2024 show a surplus of £8,563 (2023 - £12,238).

Revenues have increased by £16,522 (6.9%) and expenditure has increased by £20,197 (8.9%).

In response to Pool Hire Cost increases for 2024 a Treasurer communication was sent in January 2024 advising CCSC community of increase in Section Fees by 3.5% across all CCSC disciplines with effect from March 1st, 2024.

Notice given by Riverside November 2024 that pool hire costs are to increase again in 2025 effective from January. Whilst under continuous review, and under the current cost structure, there is no intention to increase Fees further at this time – having made modest profits the Board feel it appropriate for The Club to absorb this cost for the time being. However, with the operating environment remaining challenging for all businesses and their suppliers, operating results, cashflows and cash balances for the current financial year will continue to be closely monitored.

Club has invested in equipment over the past 12 months – 2 White Boards for writing up training sets, 2 x Timing Clocks, a new high performance Laptop for Gala Software interface and a Card Reader device to minimise cash handling to name a few. We are also looking to jointly invest in new diving block covers with our Riverside partner.

Reserves policy

It is the policy of the charity that reserves are maintained between £55,000 - £65,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Results to September 2024 have increased reserves to £74,652 with a surplus of £8,563 being generated in the period.

Historical reserve balances, rounded to the nearest £000, are as follows,

9/19 £101,000 9/20 £89,500 9/21 £59,400 9/22 £53,900 9/23 £66,100

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

With regards to the results to 2022, the Club accumulated losses of circa £47,000. Whilst utilised for the benefit of Membership, this was clearly not sustainable, so it is gratifying to see that losses have been stemmed and a return to a modest surplus in the current and previous financial year. Largely as a result of the full effect of pricing actions taken during the previous financial year flowing through together with the additional gala revenues but slightly offset by higher operating costs. This has allowed the investment in Club equipment and in the Club supporting events such as the re-vamped Awards evening held last summer and continuing to heavily subsidise team travel to Arena League events

With Reserves likely to increase beyond the current authorised range the Club is now more inclined to not only invest in equipment but also in supporting the wider membership in keeping fees as low as possible. The Trustees will not allow the Club to haemorrhage cash as it has done in prior years and will remain prudent on expenditure and will increase fees as necessary. The Club will also continue to look at diversifying revenue streams such as expanding our successful gala strategy to relieve the constant pressure on fees. Whilst the bulk of our funds are in an interest-bearing instant access account, the Club is also looking at possibly investing a portion of those funds in a fixed term Bond to increase our interest income further whilst not threatening our liquidity and ability to meet our day-to-day commitments.

The Trustees will continue to invest where appropriate, but will take a cautious and prudent approach to ensure the long term viability of the Club for the benefit of the members at all levels.

Plans for future periods

Immediate Plans

Expansion: We plan to expand our reach for membership and seek out swimmers of strong potential. Volunteers: We are seeking out a number of new volunteers, Board members and coaches.

Vision & Long Term Plans

Year One:

Year Two:

The main focus is to build on the foundations set in Year one,

Year Three:

Next Year the focus will be very much on all aspects financial.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

Year Four:

Forge closer links with the local community and as a charity look to benefit local projects and programs. Perhaps assisting members of the community from under-privileged backgrounds or with difficulties, to take part in swimming as a positive impact on their lives.

Chelmsford City Swimming Club has had another successful year, marked by strong achievements and continued growth. We are committed to providing a supportive and competitive environment for all our members and look forward to another year of success and development.

Structure, governance and management

Chelmsford City Swimming Club Ltd (CCSC or the "Club" ) is a company limited by guarantee. It is governed by its Memorandum and Articles of Association and the Club's bye laws. It is registered as a charity with the Charity Commission.

The Club is affiliated to Swim England, Swim England East Region, Essex ASA and holds Swim Mark accreditation from Swim England.

The business and affairs of the Club are also conducted in accordance with the Laws and Technical Rules of Swim England, including the Wavepower Child Safeguarding Policy. All coaches and other volunteers in specific roles are required to have DBS checks and undertake Child Safeguarding training in accordance with Swim England guidelines upon commencement of their role and are renewed in line with statutory requirements. The Club also carries out a detailed Risk Assessment, following Swim England guidance, of each pool/venue that is hired, as well for swimmers when travelling with the Club.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

R Ackers (Appointed 29 January 2024)
C Howell
L Sugden (Resigned 3 June 2024)
J Doubleday
C Bullus (Resigned 3 June 2024)
M Low
J Walker (Appointed 3 June 2024)
E Ripton (Resigned 29 January 2024)

The Trustees are also Directors for the purpose of company law. The Chair of the Trustees is elected by the Board. There is provision for at least two Trustees. The directors shall be appointed to one of the following roles by resolution of the board of directors: Chair, Secretary, Treasurer, Membership Secretary, Welfare Officer, Fundraising Officer, Marketing and Communications Officer, Head Coaches Representative.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the charitable company and guarantee to contribute £1 in the event of a winding up.

Independent Examiner

In accordance with the company's articles, a resolution proposing that Affinia (Chelmsford) be reappointed as independent examiner of the company will be put at a General Meeting.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

Disclosure of information to examiner

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the examination, but of which the examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the examiner is aware of such information.

The trustees' report was approved by the Board of Trustees.

.............................. M Low Chair of Trustees

Date: .............................................

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2024

The trustees, who are also the directors of Chelmsford City Swimming Club Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

..............................

M Low

Chair of Trustees

Date: ...........................................

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CHELMSFORD CITY SWIMMING CLUB LIMITED

I report to the trustees on my examination of the financial statements of Chelmsford City Swimming Club Limited (the charity) for the year ended 30 September 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mark Philpott BFP FCA Affinia (Chelmsford)

Ground Floor Swift House 18 Hoffmanns Way Chelmsford CM1 1GU

Dated: .........................

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations
3
-
3,963
Charitable activities
4
244,186
-
Other trading activities
5
6,793
-
Investments
6
1,109
-
Total income
252,088
3,963
Expenditure on:
Charitable activities
7
241,916
5,572
Net movement in funds
10,172
(1,609)
Fund balances at 1 October
2023
64,180
1,909
Fund balances at 30
September 2024
74,352
300		 Total Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
as restated
as restated
as restated
£
£
£
£
3,963
-
1,909
1,909
244,186
231,791
-
231,791
6,793
5,482
-
5,482
1,109
347
-
347
256,051
237,620
1,909
239,529
247,488
227,291
-
227,291
8,563
10,329
1,909
12,238
66,089
53,851
-
53,851
74,652
64,180
1,909
66,089		 Total Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
as restated
as restated
as restated
£
£
£
£
3,963
-
1,909
1,909
244,186
231,791
-
231,791
6,793
5,482
-
5,482
1,109
347
-
347
256,051
237,620
1,909
239,529
247,488
227,291
-
227,291
8,563
10,329
1,909
12,238
66,089
53,851
-
53,851
74,652
64,180
1,909
66,089
239,529
227,291
12,238
53,851
66,089

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 10 to 18 form part of these financial statements.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Funds of the Charitable Company
Restricted funds
16
Unrestricted funds
17		 2024
£
25,248
87,555
112,803
(38,690)
74,352		 £
539
74,113
74,652
300
74,352
74,652		 2023
as restated
£
7,439
71,433
78,872
(13,323)
64,180		 £
540
65,549
66,089
1,909
64,180
66,089

The notes on pages 10 to 18 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. M Low Trustee

Company registration number 08593193

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

1 Accounting policies

Charity information

Chelmsford City Swimming Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Swift House, Ground Floor, 18 Hoffmanns Way, Chelmsford, Essex, CM1 1GU, UK.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Other income is recognised in the year it is receivable and to the extent that the Charitable Company has provided the goods or services.

Income from sale of merchandise is recognised once the Charitable Company has transferred the significant risks and rewards of ownership to the buyer and it is probable that consideration will be received under the transaction.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised on an accruals basis, once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% Reducing balance Computer equipment 33.3% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The Charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.13 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable Company; this is normally upon notification of interest paid or payable by the institution with whom the funds are deposited.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

3 Donations
Restricted Restricted
funds funds
2024 2023
£ £
Donations and gifts 3,963 1,909
4 Charitable activities
Unrestricted
Unrestricted
Funds Funds
2024 2023
£ £
Fees and other income 244,186 231,791
5 Other trading activities
**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Merchandise and other income 6,793 5,482
6 Investments
**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,109 347

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

7 Charitable activities

Pool Hire
Coaching Fees
Other Direct Costs
Merchandise Purchases
Competition and Membership Fees
Share of support costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2024
£
122,044
46,665
28,469
4,162
30,465
231,805
15,683
247,488
241,916
5,572
247,488		 2023
£
107,680
44,637
20,092
1,944
38,702
213,055
14,236
227,291
227,291
-
227,291

8 Support costs

Legal and Professional
Bank Charges
Other costs
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
4,700
-
3,828
-
7,155
-
15,683
-
15,683
-		 2024
£
4,700
3,828
7,155
15,683
15,683		 Support
costs
Governance
costs
£
£
4,690
-
3,645
-
5,901
-
14,236
-
14,236
-		 2023
£
4,690
3,645
5,901
14,236
14,236

9 Examiner's remuneration

2024 2023
£ £
Examination of the Charitable Company's annual accounts 2,175 2,175

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -
12 Tangible fixed assets
Plant and Computer Total
equipment equipment
£ £ £
Cost
At 1 October 2023 1,582 1,494 3,076
Additions - 299 299
At 30 September 2024 1,582 1,793 3,375
Depreciation
At 1 October 2023 1,409 1,127 2,536
Depreciation charged in the year 43 257 300
At 30 September 2024 1,452 1,384 2,836
Carrying amount
At 30 September 2024 130 409 539
At 30 September 2023 173 367 540
13 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 7,016 6,272
Other debtors 369 988
Prepayments and accrued income 17,863 179
25,248 7,439

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

14
Creditors: amounts falling due within one year
Notes
Deferred income
15
Accruals		 2024
£
32,450
6,240
38,690		 2023
£
-
13,323
13,323

15 Deferred income

Deferred income is included in the financial statements as follows:

Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 October 2023
Resources deferred in the year
Deferred income at 30 September 2024		 2024
£
32,450
-
32,450
32,450		 2023
£
-
-
-
-

Deferred income relates to income received for a February 2025 swim camp.

16 Restricted funds

Movement Movement in funds Movement in funds
in funds
Incoming
Balance at		 Incoming Resources Balance at
resources 1 October 2023 resources expended 30 September
2024
£ £ £ £ £
Restricted donations 1,909 1,909 3,963 (5,572) 300

The specific purposes for which the funds are to be applied are as follows:

Restricted donations

This fund represents award monies received from the Jack Petchey Foundation.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

17 Unrestricted funds

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 October 2022 resources expended 1 October 2023 resources expended 30 September
2024
£ £ £ £ £ £ £
General
Funds 51,968 237,620 (227,291) 62,297 252,088 (241,916) 72,469
Financial
Assistance
Fund 1,883 - - 1,883 - - 1,883
53,851 237,620 (227,291) 64,180 252,088 (241,916) 74,352

The specific purposes for which the funds are to be applied are as follows:

General funds

These have arisen from activities carried out by the Charitable Company which have no restrictions.

Financial Assistance Fund

This fund represents funding designated by the Trustees for welfare support.

18 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2024
2024
£
£
Tangible assets
539
-
Current assets/(liabilities)
73,813
300
74,352
300		 Total Unrestricted
funds
Restricted
funds
2024
2023
2023
£
£
£
539
540
-
74,113
63,640
1,909
74,652
64,180
1,909		 Total
2023
£
540
65,549
66,089

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

20 Financial Commitments

As at the year end, financial commitments for future hire charges for swimming pool facilities were limited to one month commitment. A monthly rolling agreement is in place to utilise a third party pool. The charity calculates that its financial commitments is a maximum of £10,000 (2023: £10,000).

21 Members' liability

Each Member of the Charitable Company undertakes to contribute to the assets of the Company in the event of it being wound up while they are a Member, or within one year after they cease to be a Member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before they cease to be a Member.

Draft Financial Statements at 16 May 2025 at 11:20:35 CHELMSFORD CITY SWIMMING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

22 Ultimate Controlling Party

The charitable company is incorporated as a company limited by guarantee and operates independently under the governance of its trustees, who act in accordance with its charitable objectives. As a company limited by guarantee, it has no shareholders, and its members' liability is limited to the amount they have agreed to contribute in the event of winding up.

23 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet
At 30 September 2023
As previously Adjustment As restated
reported
£ £ £
Restricted funds (33,027) 34,936 1,909
Unrestricted funds 99,116 (34,936) 64,180
Total funds 66,089 - 66,089

A prior year restatement has been included within the financial statements to reallocate expenditure previously disclosed as restricted funds to unrestricted funds. This reallocation ensures that expenditure alligns with the restriction of the corresponding income received.