2022-09-30-accounts

REGISTERED CHARITY NUMBER: 1175684

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 2022

		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 2022

The trustees present their report with the financial statements of the charity for the year ended 30 September 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The 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 past year has been a big year of change for the Charity. We have had a full year of competitions which have proved extremely popular, our Swimming Camps have also returned and being held in our home pool. We are growing our membership and in turn our full time staff numbers are also increasing. Our head coach of more than 10 years made the decision to leave the club and has been replaced internally. As we moved forward into the next year the focus for the club is going to be on improving the quality of services offered and growing our membership.

FINANCIAL REVIEW

Financial position

The charity continues to have a healthy balance sheet at the end of the accounting period. The past 12 months have been very successful and enabled the club to build reserves, the surplus does include a contribution from an insurance payout that will not be repeated, however even without this the club would still have generated a surplus. The success of the Home Meet competitions have been a major factor in this and as we continue to grow we will be looking at ways to ensure we can maximise our income from these events. As we move forward the charity are planning to increase full time staff with a view to improving the quality of our service offerings and ensuring our members are getting the best service we can offer.

Page 1

CITY OF COVENTRY SWIMMING CLUB

REPORT OF THE TRUSTEES for the year ended 30 September 2022

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 (resigned 17.11.2022) S Sinclair (resigned 17.11.2022) W Offer N Sellwood (appointed 17.11.2022) L Whitbread (appointed 17.11.2022)

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 2022

Approved by order of the board of trustees on 11 January 2023 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 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a 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

11 January 2023

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CITY OF COVENTRY SWIMMING CLUB

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 22,550 Charitable activities 4 Training scheme 236,588 Home meets 85,887 Away meets 4,742 Swim camp 13,435 Waterpolo 20,508 Course tutoring 2,845 Other activities 13,270 Learn to swim 5,000 Other trading activities 2 32,469 Investment income 3 91 Total 437,385 EXPENDITURE ON Charitable activities Training scheme 311,137 Home meets 38,132 Away meets 5,752 Swim camp 5,500 Waterpolo 21,339 Course tutoring 242 Education and training 3,888 Other activities 20,775 Learn to swim 52 Total 406,817 NET INCOME/(EXPENDITURE) 30,568 RECONCILIATION OF FUNDS Total funds brought forward 265,764 TOTAL FUNDS CARRIED FORWARD 296,332	Restricted fund £ - - - - - - - - - - - - - - - - - - - - - - - 3,081 3,081	2022 Total funds £ 22,550 236,588 85,887 4,742 13,435 20,508 2,845 13,270 5,000 32,469 91 437,385 311,137 38,132 5,752 5,500 21,339 242 3,888 20,775 52 406,817 30,568 268,845 299,413	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

The notes form part of these financial statements

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CITY OF COVENTRY SWIMMING CLUB

BALANCE SHEET 30 September 2022

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 1,667 CURRENT ASSETS Cash at bank 307,553 CREDITORS Amounts falling due within one year 9 (12,888) NET CURRENT ASSETS 294,665 TOTAL ASSETS LESS CURRENT LIABILITIES 296,332 NET ASSETS 296,332 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted fund £ - 3,081 - 3,081 3,081 3,081	2022 Total funds £ 1,667 310,634 (12,888) 297,746 299,413 299,413 296,332 3,081 299,413	2021 Total funds £ 3,667 278,483 (13,305) 265,178 268,845 268,845 265,764 3,081 268,845

The financial statements were approved by the Board of Trustees and authorised for issue on 11 January 2023 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 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

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...

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CITY OF COVENTRY SWIMMING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2022

2. OTHER TRADING ACTIVITIES

3.

OTHER TRADING ACTIVITIES
Fundraising events Shop income Timing system Club fees INVESTMENT INCOME Deposit account interest	2022 £ 3,823 2,677 5,220 20,749 32,469 2022 £ 91	2021 £ 1,189 539 - 16,861
		18,589
		2021 £ 21

4. CHARITABLE ACTIVITIES

Government Grants

The charity has received Job Retention Scheme payments from HMRC totalling £nil (2021: £28,077) in the year. This is recorded within income from Charitable Activities to match the related expenditure, which is also allocated against Charitable Activities.

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.

Trustees' expenses

Expenses totalling £3,637 (2021: £3,694) have been paid to three trustees (2021: 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:

	2022	2021
Staff	14	16

No employees received emoluments in excess of £60,000.

continued...

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CITY OF COVENTRY SWIMMING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2022

7. INDEPENDENT EXAMINERS REMUNERATION

The independent examiners remuneration amounts to an independent examination fee of £1,560 (2021: £1,320) and other services of £nil (2021: £nil).

8. TANGIBLE FIXED ASSETS

COST At 1 October 2021 and 30 September 2022 DEPRECIATION At 1 October 2021 Charge for year At 30 September 2022 NET BOOK VALUE At 30 September 2022 At 30 September 2021 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 10. MOVEMENT IN FUNDS At 1.10.21 £ Unrestricted funds General fund 265,764 Restricted funds Cash for Kids 3,081 TOTAL FUNDS 268,845 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 437,385 TOTAL FUNDS 437,385

Computer equipment £ 10,000 6,333 2,000 8,333 1,667 3,667 2022 2021 £ £ 12,888 13,305 Net movement At in funds 30.9.22 £ £ 30,568 296,332 - 3,081 30,568 299,413 Resources Movement expended in funds £ £ (406,817) 30,568 (406,817) 30,568

continued...

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CITY OF COVENTRY SWIMMING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2022

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.10.20 £ Unrestricted funds General fund 275,189 Restricted funds Cash for Kids 3,081 TOTAL FUNDS 278,270 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 272,328 TOTAL FUNDS 272,328	Net movement At in funds 30.9.21 £ £ (9,425) 265,764 - 3,081 (9,425) 268,845 Resources Movement expended in funds £ £ (281,753) (9,425) (281,753) (9,425)

Restricted funds

Cash for Kids is a fund to be used for under privileged members of the Club, or for disability swimming.

11. 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 £2,589 (2021: £2,665)

The defined contribution liability is allocated to unrestricted funds and amounts to £nil (2021: £nil) at the period end.

12. RELATED PARTY DISCLOSURES

Included in donations received is £20,000 (2021: £8,200) 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 £10,624 (2021: £6,092), and has charged, at arm's length, £1,603 (2021: £1,050) for use of their leased pool.

continued...

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CITY OF COVENTRY SWIMMING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2022

13. 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 five years remaining on the lease agreement.

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CITY OF COVENTRY SWIMMING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

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 Other income Total incoming resources EXPENDITURE Charitable activities Staffing Pool hire Meet expenses Other costs directly attributable to activities Camp expenses Paypal fees Support costs Management Insurance Telephone and general admin	2022 £ 20,000 2,550 22,550 3,823 2,677 5,220 20,749 32,469 91 264,819 90,629 122 13,435 - 13,270 382,275 437,385 152,844 158,293 42,465 28,648 5,500 1,419 389,169 617 9,375 9,992	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

This page does not form part of the statutory financial statements

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CITY OF COVENTRY SWIMMING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2022

Management Finance GoCardless and bank fees Other Capital expenditure Depreciation Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure)	2022 £ 3,796 - 2,000 2,000 1,860 406,817 30,568	2021 £ 3,275 1,492 2,000 3,492 1,320 281,753 (9,425)

This page does not form part of the statutory financial statements

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