**REGISTERED CHARITY NUMBER: 1175684**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021**
## **FOR**
## **CITY OF COVENTRY SWIMMING CLUB**
Harrison Beale & Owen Limited Chartered Accountants Seven Stars House 1 Wheler Road Coventry CV3 4LB
**CITY OF COVENTRY SWIMMING CLUB**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
|**Detailed Statement of Financial Activities**|12|to|13|
**CITY OF COVENTRY SWIMMING CLUB**
## **REPORT OF THE TRUSTEES for the year ended 30 September 2021**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. 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 objective of the charity is the promotion of community participation in healthy recreation, primarily but not exclusively, for the benefit of the inhabitants living in Coventry and the surrounding area by the provision of facilities for swimming, water polo and Para swimming.
## **Significant activities**
Training scheme - Provision of a competitive swim training scheme for children and adults focussing on improving swimming ability and competing at local, county, regional and national level competitions.
Home meets - Provision of gala competitions at the home pool, staffed and organised by the charity.
Away meets - Attendance at gala competitions provided by other competitive clubs or organisations.
Swim camps - Provision of intense swimming sessions, focussing on stroke technique, by qualified coaches.
Waterpolo - Waterpolo provision for adults and youths, including competition at national level.
Pathways - Pathways to competitive swimming is a transition programme for children who have finished the learn to swim programme but are not quite ready for the competitive squads.
Course tutoring - Professional services delivered to governing bodies to provide tutoring for future teachers and coaches.
Education and training - Provision of training and education to volunteers and employees to enable the charity to continue to provide the services on offer.
Learn to swim - Provision of swimming lessons with our trusted partners.
## **Public benefit**
The trustees have considered the Charity Commission's guidance on public benefit.
## **Volunteers**
The charity benefits from significant voluntarily donated time. Volunteers help with the administration of the charity and give their time to support activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Charity has continued in challenging conditions over the last 12 months. With the COVID-19 pandemic causing further lockdowns and impacting our revenue generating activities such as Open Meets, Swim Camps etc. However things have begun to return to more normal circumstances and we were finally able to host our first open meet in the new pool in September 2021. As we look ahead to the next 12 months we are confident that the club will be able to operate a full programme of activities and continue with our growth plans.
## **FINANCIAL REVIEW**
## **Financial position**
The charity has a healthy balance sheet at the end of the accounting period. Despite the lockdown costs have been closely managed and members continued to support and contribute towards the club through lockdown. The future is still challenging and the reserves are needed to ensure the club can continue to operate whilst increasing the turnover in the next 2-3 years. Since closing out the accounts, the club has accepted a final offer of £15,770 from their insurers in relation to a claim for COVID-19 losses impact due to the financial impact of the numerous lockdowns. This will be shown the financial statements for next year.
Page 1
**CITY OF COVENTRY SWIMMING CLUB**
## **REPORT OF THE TRUSTEES for the year ended 30 September 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the trustees to maintain unrestricted funds at a level where they can provide at least six months' expenditure. At the balance sheet date, the funds were sufficient to meet this objective.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a constitution dated 17 November 2018, and constitutes a Charitable Incorporated Organisation ("CIO").
## **Recruitment and appointment of new trustees**
Nominations for election of charity trustees shall be made in writing by the proposer and seconder to the secretary not later than 14 days before the annual general meeting.
The charity trustees will make available to each new charity trustee, on or before his or her first appointment: A copy of the constitution, and any amendments made to it, and a copy of the latest annual report and financial statements.
## **Organisational structure**
The overall day to day management of the charity is carried out by the trustees who are also responsible for significant decisions of a long term operational nature.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1175684
## **Principal address**
The Alan Higgs Centre Allard Way Coventry CV3 1HW
## **Trustees**
Miss H Ward Mrs R Jelley C Sherwood S Sinclair W Offer (appointed 1.11.2020)
## **Independent Examiner**
Harrison Beale & Owen Limited Chartered Accountants Seven Stars House 1 Wheler Road Coventry CV3 4LB
## **CIO Company number**
CE011687
## **Registered office**
The Alan Higgs Centre Allard Way Coventry CV3 1HW
Page 2
**CITY OF COVENTRY SWIMMING CLUB**
## **REPORT OF THE TRUSTEES**
## **for the year ended 30 September 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by order of the board of trustees on 12 July 2022 and signed on its behalf by:
Miss H Ward - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY OF COVENTRY SWIMMING CLUB**
## **Independent examiner's report to the trustees of City of Coventry Swimming Club**
I report to the charity trustees on my examination of the accounts of City of Coventry Swimming Club (the Trust) for the year ended 30 September 2021.
## **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 registered member of ICAEW 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.
Gregg Olner MPhil BA(Hons) ICAEW Harrison Beale & Owen Limited Seven Stars House 1 Wheler Road Coventry CV3 4LB
12 July 2022
Page 4
## **CITY OF COVENTRY SWIMMING CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**25,920**
**Charitable activities**
4
Training scheme
**160,521**
Home meets
**11,015**
Away meets
**1,424**
Swim camp
**-**
Waterpolo
**11,563**
Pathways
**-**
Course tutoring
**5,050**
Other activities
**28,277**
Learn to swim
**9,948**
Other trading activities
2
**18,589**
Investment income
3
**21**
**Total**
**272,328**
**EXPENDITURE ON**
**Charitable activities**
Training scheme
**243,895**
Home meets
**7,475**
Away meets
**2,027**
Waterpolo
**10,839**
Pathways
**-**
Course tutoring
**346**
Education and training
**4,354**
Other activities
**12,817**
Learn to swim
**-**
Other
**-**
**Total**
**281,753**
**NET INCOME/(EXPENDITURE)**
**(9,425)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**275,189**
**TOTAL FUNDS CARRIED FORWARD**
**265,764**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**3,081**
**3,081**|**2021**
**Total**
**funds**
**£**
**25,920**
**160,521**
**11,015**
**1,424**
**-**
**11,563**
**-**
**5,050**
**28,277**
**9,948**
**18,589**
**21**
**272,328**
**243,895**
**7,475**
**2,027**
**10,839**
**-**
**346**
**4,354**
**12,817**
**-**
**-**
**281,753**
**(9,425)**
**278,270**
**268,845**|2020
Total
funds
£
8,500
203,539
21,400
2,839
720
11,093
2,720
6,026
-
11,627
23,155
434
292,053
223,328
10,418
6,463
(2,495)
1,807
635
714
10,466
6,147
2,000
259,483
32,570
245,700
278,270|
|---|---|---|---|
The notes form part of these financial statements
Page 5
## **CITY OF COVENTRY SWIMMING CLUB**
## **BALANCE SHEET 30 September 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
8
**3,667**
**CURRENT ASSETS**
Debtors
9
**-**
Cash at bank
**275,402**
**275,402**
**CREDITORS**
Amounts falling due within one year
10
**(13,305)**
**NET CURRENT ASSETS**
**262,097**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**265,764**
**NET ASSETS**
**265,764**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**3,081**
**3,081**
**-**
**3,081**
**3,081**
**3,081**|**2021**
**Total**
**funds**
**£**
**3,667**
**-**
**278,483**
**278,483**
**(13,305)**
**265,178**
**268,845**
**268,845**
**265,764**
**3,081**
**268,845**|2020
Total
funds
£
5,667
21,082
271,778
292,860
(20,257)
272,603
278,270
278,270
275,189
3,081
278,270|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 July 2022 and were signed on its behalf by:
H Ward - Trustee
The notes form part of these financial statements
Page 6
**CITY OF COVENTRY SWIMMING CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2021**
## **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.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Charities SORP (FRS 102) rather than the Charities SORP 2005, which has since been withdrawn.
## **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.
Government grants that do not impose future performance-related conditions are recognised in income when the received or receivable.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 5 years
The charity has a policy of only capitalising assets with a value of £1,000 or more.
## **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.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 7
**CITY OF COVENTRY SWIMMING CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2021**
## **2. OTHER TRADING ACTIVITIES**
## **3.**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
|Fundraising events
Shop income
Timing system
Club fees
**INVESTMENT INCOME**
Deposit account interest|**2021**
**£**
**1,189**
**539**
**-**
**16,861**
**18,589**
**2021**
**£**
**21**|2020
£
3,858
1,507
1,400
16,390|
|||23,155|
|||2020
£
434|
## **4. CHARITABLE ACTIVITIES**
## **Government Grants**
The charity has received Job Retention Scheme payments from HMRC totalling £28,077 (2020: £25,333) in the year. This is recorded within income from Charitable Activities to match the related expenditure, which is allocated against Charitable Activities also.
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.
## **Trustees' expenses**
Expenses totalling £3,694.29 (2020: £2,953) have been paid to one trustee (2020: one trustee) in the year. The nature of these expenses was to repay the trustee for computer and general admin costs incurred in furtherance of the charitable activities.
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||**2021**|2020|
|---|---|---|
|Staff|**16**|14|
No employees received emoluments in excess of £60,000.
continued...
Page 8
**CITY OF COVENTRY SWIMMING CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2021**
## **7. INDEPENDENT EXAMINERS REMUNERATION**
The independent examiners remuneration amounts to an independent examination fee of £1,320 (2020: £1,400) and other services of £nil.
## **8. TANGIBLE FIXED ASSETS**
|**COST**
At 1 October 2020 and 30 September 2021
**DEPRECIATION**
At 1 October 2020
Charge for year
At 30 September 2021
**NET BOOK VALUE**
At 30 September 2021
At 30 September 2020
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income
**11.**
**MOVEMENT IN FUNDS**
At
1.10.20
£
**Unrestricted funds**
General fund
**275,189**
**Restricted funds**
Cash for Kids
**3,081**
**TOTAL FUNDS**
**278,270**|**2021**
**£**
**-**
**2021**
**£**
**13,305**
Net
movement
in funds
£
**(9,425)**
**-**
**(9,425)**|Computer
equipment
£
**10,000**
**4,333**
**2,000**
**6,333**
**3,667**
5,667
2020
£
21,082
2020
£
20,257
At
30.9.21
£
**265,764**
**3,081**
**268,845**|
|---|---|---|
continued...
Page 9
**CITY OF COVENTRY SWIMMING CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2021**
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
**272,328**
**TOTAL FUNDS**
**272,328**
**Comparatives for movement in funds**
At
1.10.19
£
**Unrestricted funds**
General fund
245,700
**Restricted funds**
Cash for Kids
-
**TOTAL FUNDS**
245,700
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
288,972
**Restricted funds**
Cash for Kids
3,081
**TOTAL FUNDS**
292,053|Resources
Movement
expended
in funds
£
£
**(281,753)**
**(9,425)**
**(281,753)**
**(9,425)**
Net
movement
At
in funds
30.9.20
£
£
29,489
275,189
3,081
3,081
32,570
278,270
Resources
Movement
expended
in funds
£
£
(259,483)
29,489
-
3,081
(259,483)
32,570|
|---|---|
## **Restricted funds**
Cash for Kids is a fund to be used for under privileged members of the Club, or for disability swimming.
continued...
Page 10
**CITY OF COVENTRY SWIMMING CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2021**
## **12. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined contribution pension plan for its employees. The amount recognised in the SOFA as an expense in the period was £2,665 (2020: £2,876).
The defined contribution liability is allocated to unrestricted funds and amounts to £nil (2020: £nil) at the period end.
## **13. RELATED PARTY DISCLOSURES**
Included in donations received is £8,200 (2020: £7,500) from Coventry Swim School Ltd, a company limited by guarantee, that is under common control with the charity.
During the year, the charity recharged expenses to the company, at cost, totalling £6,092 (2020: £316), and has charged, at arm's length, £1,050 (2020: £5,050) for use of their leased pool.
## **14. OPERATING LEASES**
The charity is committed to hiring a minimum amount of pool time each week, at a current cost of £37,180 per annum. There are six years remaining on the lease agreement.
Page 11
**CITY OF COVENTRY SWIMMING CLUB**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Other trading activities**
Fundraising events
Shop income
Timing system
Club fees
**Investment income**
Deposit account interest
**Charitable activities**
Training fees
Meet entries
Development galas
Swim camp
Grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Staffing
Pool hire
Meet expenses
Other costs directly attributable to activities
Paypal fees
**Support costs**
**Management**
Insurance
Telephone and general admin
**Finance**
GoCardless and bank fees|2021
£
**18,700**
**7,220**
**25,920**
**1,189**
**539**
**-**
**16,861**
**18,589**
**21**
**187,082**
**12,439**
**-**
**-**
**28,277**
**227,798**
**272,328**
**146,166**
**97,175**
**8,535**
**17,250**
**967**
**270,093**
**(1,473)**
**5,046**
**3,573**
**3,275**|2020
£
8,500
-|
|---|---|---|
|||8,500
3,858
1,507
1,400
16,390|
|||23,155
434
209,672
24,029
210
720
25,333|
|||259,964|
|||292,053
160,140
69,394
16,219
953
662|
|||247,368
958
3,439|
|||4,397
3,107|
This page does not form part of the statutory financial statements
Page 12
**CITY OF COVENTRY SWIMMING CLUB**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**for the year ended 30 September 2021**|||
|---|---|---|
|**Finance**
**Other**
Capital expenditure
Depreciation
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|2021
£
**1,492**
**2,000**
**3,492**
**1,320**
**281,753**
**(9,425)**|2020
£
1,211
2,000|
|||3,211
1,400|
|||259,483|
|||32,570|
This page does not form part of the statutory financial statements
Page 13