Charity number: 1179105
Fareham Nomads Swimming Club
Trustees’ annual report and financial statements
For the year ended 31 July 2024
Compass Accountants Ltd Venture House The Tanneries East Street Titchfield Hampshire PO14 4AR
Fareham Nomads Swimming Club
| Contents | |
|---|---|
| Page | |
| Legal and administrative information | 1 |
| Trustees' annual report | 2 - 4 |
| Objectives & activities | |
| Achievements & performance | |
| Financial review | |
| Plans for future periods | |
| Statement of Trustees’ responsibilities | 4 |
| Examiner’s report to the Trustees | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 13 |
Fareham Nomads Swimming Club
Legal and administrative information
| Charity number | 1179105 |
|---|---|
| Principal address | 2 Heather Gardens |
| Fareham | |
| Hampshire | |
| PO15 6JB | |
| Trustees | S Davies (Chair) |
| N Stantiall (Vice Chair) | |
| G Knipe (Secretary) | |
| N Davies (Treasurer) | |
| A Attwood | |
| A Hartley – Appointed 17/12/2023 | |
| Independent examiner | Kerry Lawrance FCA |
| Accountants | Compass Accountants Limited |
| Venture House, The Tanneries | |
| East Street | |
| Titchfield | |
| Hampshire | |
| PO14 4AR | |
| Bankers | Barclays Bank UK Plc |
| 67-69 West Street | |
| Fareham | |
| Hampshire | |
| PO16 0AT |
Page 1
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2024
The Trustees present their report and the financial statements for the year ended 31 July 2024. The Trustees who served during the year and up to the date of this report are set out on page 1.
Significant activities
Following two years of post-Covid rebuilding, the 2023-24 financial year has felt like the Club has achieved a degree of financial stability. While we have still needed to be cautious, we have taken the opportunity to make some investments in equipment to improve our training facilities, specifically pace clocks and backstroke starting ledges. We have also purchased an additional laptop to run the AOE timing equipment for our Valentine Meet, removing the risk of failure of the old laptop supplied by the Horizon Leisure Centre.
Some other factors have affected our operating profit for the year. Firstly, West Hill Park School has moved to a new system of invoicing which resulted in our having to pay for September’s pool hire in July, where we would previously have paid in arrears. Secondly, we have held over a stock of medals for the Valentine Meet and had paid for the medals for the 2024 Club Championships and Distance Meets, the income for which will not be recouped until the 2024-25 financial year.
Swimming membership has remained fairly stable throughout the year, typically in the 180-190 range, which gives a little room for growth within our existing allocation of pool time. The coaching and teaching teams have also remained stable, although efforts are now being made to recruit a new Head Coach to enable our current Club Coach to begin to step back over the next year or so. We were hit by substantial increases in our pool hire costs for the second year in a row, particularly in respect of our two Everyone Active pools. The healthy level of fundraising activity has again enabled us to avoid passing the full weight of those increases on to our swimmers, but we certainly hope for less dramatic increases in the 2024-25 year.
Objectives and activities
The objects of the charity are:
The promotion of community participation in healthy recreation for the benefit of the inhabitants of Fareham and surrounding areas by the provision of facilities for coaching, teaching and practice of swimming and other related activities, in particular (but not exclusively) the teaching of water safety, lifesaving and survival in water.
Our mission is:
-
To ensure that every member has the opportunity to learn to swim and compete regardless of age and ability by offering the best possible coaching in a friendly, affordable and high achieving environment.
-
To ensure that every member can achieve their personal goals within the sport and promote the ethos "Be the Best We Can Be", encouraging a lifelong participation in the sport.
-
To positively contribute to our members' physical and emotional development through building selfconfidence, fitness and self-discipline, in an environment of mutual respect & support. Developing skills that will carry over into a life outside the swimming pool.
Strategies to achieve our objectives
The strategies that we have used to achieve these objectives over the last year have included:
-
Continued advertising in local schools and on social media to encourage members into the Club
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Exploring opportunities to maximise income from the hosting of open meets throughout the year
-
Investigating and applying for grants to support Club income and minimise increases in fees
Page 2
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2024
Public benefit
The Club is open to all those living within Fareham and its surrounding areas and we strive to achieve our mission for the public benefit. The Trustees have read the Charity Commission guidance on Public Benefit and consider it with due regard in exercising their powers and duties.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Swimming activity is split between training and competitions. The coaching and teaching workforce have been fairly stable throughout the year, with progress being made towards having the correct mix of abilities in each of our squads. Some effort needs to be made to achieve a better balance across the various stages of our Learn to Swim setting, as some early stages were extremely light on numbers by the end of the year.
The Club was only able to host a single open meet this year – the Valentine Meet which has become synonymous with Nomads. This event was so heavily subscribed with swimmers this year that we were unable to accommodate spectators, which is an indication of its popularity. We have taken the decision to invest in bespoke medals now, which means that any surplus from one year to the next can be reused, a model that we have also followed for our Club Championships and Distance Meet medals.
Fundraising activities
The Club again organised a number of fundraising events throughout the year. The ‘Big T Challenge’ returned and is now part of our annual calendar of events, with swimmers invited to raise sponsorship from friends and family for swimming as many lengths as possible in a fixed period of time. There was also a Christmas raffle using donations from local companies and we have continued to host Club Bingo Nights, which remain popular.
FINANCIAL REVIEW
Financial position
The Trustees are satisfied with the incoming resources of £220,584, outgoing expenditure of £210,951 and net income of £9,633, particularly in view of some exceptional expenditure during the year.
Membership
The number of swimming members as at 31 July 2024 is 181.
Reserves policy
The unrestricted reserves of the Club as at 31 July 2024 were £63,818. The Club’s Reserves Policy states that our main aim is to the further the objects of the Club and therefore we will only hold enough money in reserve to manage the Club should income suddenly drop or expenses suddenly increase. It is felt that three months’ running costs is the minimum amount to hold in reserve in case of significant future expenses, therefore we wish to continue to build the current reserves.
Page 3
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2024
FUTURE PLANS
We hope that the 2024-25 season will see the Club continue to consolidate the recovery work of the last two years. Swimmer numbers are healthy, but not healthy enough to permit any complacency. Our specific objectives for the coming year are:
-
To have all available swim slots full and have a waiting list to join the Club
-
To develop the workforce and continue to increase the number of trained volunteers and officials
-
To continue to build the unrestricted reserves of the club beyond the desired minimum level
-
To minimise increases in monthly fees for swimmers by driving up membership numbers and exploring opportunities to maximise alternative income streams, including grants and sponsorship
Statement of trustees’ responsibilities for the year ended 31 July 2024
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity 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 charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper 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 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.
…………………………………………………………….. S Davies On behalf of the Board
Date:
Page 4
Fareham Nomads Swimming Club
Independent examiner’s report to the Trustees of Fareham Nomads Swimming Club
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st July 2024 which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
-
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.
Kerry Lawrance FCA Compass Accountants Limited
Venture House The Tanneries East Street Titchfield Hampshire PO14 4AR
Date:
Page 5
Fareham Nomads Swimming Club
Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 July 2024
| Unrestricted funds Notes £ Income from: Donations and legacies Donations 2 8,194 Charitable activities Training and coaching 101,268 Competitions and galas 37,006 Trading and other activities - Memberships 68,087 Grants - Other trading activities 3 5,222 Other income 807 Total income 220,584 Expenditure on: Fundraising 4 145 Charitable activities 5 Training and coaching 163,187 Competitions and galas 42,521 Trading and other activities 5,098 Total expenditure 210,951 Net income/(expenditure) 9,633 Transfers between funds - Net movement in funds - Reconciliation of funds: Total funds brought forward 47,748 Total funds carried forward 57,381 |
Restricted funds £ - - - - - - - - - - - - - - - 6,437 6,437 |
2024 Unrestricted Restricted Total funds funds £ £ £ 8,194 8,506 - 101,268 80,048 - 37,006 39,718 - - - 68,087 64,931 - - 840 - 5,222 4,903 840 807 1,943 - 220,584 200,889 840 145 684 - 163,187 158,760 851 42,521 29,626 - 5,098 2,381 - 210,951 191,451 - 851 9,633 9,438 (11) - 4,420 (4,420) - 13,858 (4,431) 54,185 33,890 10,868 63,818 47,748 6,437 |
2023 Total £ 8,506 80,048 39,718 - 64,931 840 5,743 1,943 |
|
|---|---|---|---|---|
| 201,729 | ||||
| 684 159,611 29,626 2,381 |
||||
| 192,302 | ||||
| 9,427 - |
||||
| 9,427 44,758 |
||||
| 54,185 |
All recognised gains and losses are included in the statement of financial activities
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 6
Fareham Nomads Swimming Club
Balance Sheet
as at 31 July 2024
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Net assets Funds Unrestricted funds Restricted funds Total funds |
2024 £ 3,358 3,358 2,315 61,357 63,672 (3,212) 60,460 63,818 63,818 63,818 - 63,818 |
2023 £ 5,718 |
|---|---|---|
| 5,718 - 58,175 |
||
| 58,175 (9,708) |
||
| 48,467 54,185 |
||
| 54,185 | ||
| 47,748 6,437 |
||
| 54,185 |
The financial statements were approved by the Board and signed on its behalf by
S Davies On behalf of the Board of Trustees
Date:
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 7
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
1. Accounting policies
1.1. Charity information
Fareham Nomads Swimming Club is a registered Charitable Incorporated Organisation (CIO), number 1179105.
Fareham Nomads Swimming Club meets the definition of a public benefit entity under section 34 of FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy.
The principal objectives of the charity are detailed in the Trustees report.
1.2. Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
The financial statements are presented in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.3. Fund accounting
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overheads and support costs.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
1.4. Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from investments is included in the year in which it is receivable.
Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.
1.5. Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs incurred in the governance of the company and its assets and are primarily associated with constitutional and statutory requirements.
Page 8
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
1.6. Tangible fixed assets and depreciation
Tangible fixed assets with a cost or value greater than £1,000 and a useful life exceeding one year are capitalised at historic cost.
Depreciation has been provided at rates calculated to spread the cost of each asset over its expected useful life as follows:
Plant and machinery - 20% on cost Computer equipment - 33% on cost
1.7. Basic financial Instruments
The charity’s financial assets and liabilities consist of cash and cash equivalents, short term investments, trade debtors, trade creditors and accrued expenses. The fair value of these items approximates their carrying value due to their short-term value. Unless otherwise noted, the charity is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.
2. Donations and legacies
| Unrestricted funds £ Gift aid 8,194 Subscriptions - 8,194 |
Restricted funds £ - - - |
2024 Unrestricted Total funds £ £ 8,194 8,480 - 26 8,194 8,506 |
Restricted funds £ - - - |
2023 Total £ 8,480 26 |
|---|---|---|---|---|
| 8,506 |
3. Other trading activities
| Unrestricted funds £ Fundraising events 5,222 5,222 |
Restricted funds £ - - |
2024 Unrestricted Total funds £ £ 5,222 4,903 5,222 4,903 |
Restricted funds £ 840 840 |
2023 Total £ 5,743 |
|---|---|---|---|---|
| 5,743 |
4. Fundraising costs
| Unrestricted funds £ Other fundraising expenses - Support costs 145 145 |
Restricted funds £ - - - |
2024 Unrestricted Total funds £ £ - 565 145 119 145 684 |
Restricted funds £ - - - |
2023 Total £ 565 119 |
|---|---|---|---|---|
| 684 |
Page 9
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
5. Charitable activities
| Training and coaching Competitions and galas Trading and other activities |
Direct Support costs (see note 6) £ £ 160,201 2,986 41,868 653 4,992 106 207,061 3,745 |
2024 Total £ 163,187 42,521 5,098 210,806 |
2023 Total £ 159,611 29,626 2,381 |
|---|---|---|---|
| 191,618 |
6. Governance and support costs
| Management £ Raising donations and legacies 84 Training and coaching 1,036 Competitions and galas 379 Trading and other activities 696 Memberships 62 2,257 |
Finance Governance £ £ 5 56 53 697 19 255 35 469 3 41 115 1,518 |
Total 2024 £ 145 1,786 321 3,478 112 3,890 |
Total 2023 £ 119 1,116 554 107 906 |
|---|---|---|---|
| 2,803 |
7. Staff costs
| Employment costs Wages and salaries Social security costs Pension contributions |
2024 £ 42,675 - 1,295 43,970 |
2023 £ 38,475 2,930 1,196 |
|---|---|---|
| 42,601 |
The average number of employees during the year was 2 (2023: 2).
No employee received emoluments of more than £60,000
Trustees' emoluments
No trustees received remuneration during the period or were reimbursed for expenses incurred (2023: None).
8. Net outgoing resources for the year
| Net outgoing resources for the year | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Net outgoing resources for the year is stated after charging: | ||
| Depreciation and other amounts written off tangible assets | 4,133 | 3,791 |
| Independent examiner's remuneration | 1,200 | 1,200 |
Page 10
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
9. Tangible fixed assets
| Cost At 1 August 2023 Additions in year Disposals in year At 31 July 2024 Depreciation At 1 August 2023 Charge for the year On disposals At 31 July 2024 Net book values At 31 July 2024 At 31 July 2023 10. Debtors Amounts due within 1 year: Prepayments 11. Creditors: amounts falling due within one year Taxation and social security Other creditors |
Plant and machinery £ 18,956 1,773 - 20,729 13,238 4,133 - 17,371 3,358 5,718 |
Computer equipment £ - - - - - - - - - - 2024 £ 2,315 2,315 2024 £ 818 2,394 3,212 |
Total £ 18,956 1,773 - |
|---|---|---|---|
| 20,729 | |||
| 13,238 4,133 - |
|||
| 17,371 | |||
| 3,358 | |||
| 5,718 2023 £ - |
|||
| - 2023 £ 508 9,200 |
|||
| 9,708 |
Page 11
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
12. Restricted funds
| 1 D F fund Starting blocks/clock Solent Network Pool fund HIWCF fund Restricted funds 1 D F fund Starting blocks/clock Solent Network Pool fund HIWCF fund |
August 2023 £ 156 - 1,006 5,209 66 6,437 August 2022 £ 156 - 1,006 9,706 - 10,868 |
Income Expenditure £ £ - - - - - - - - - - - - Income Expenditure £ £ - - - - - - (77) 840 (774) 840 (851) |
Gains/ (losses) £ - - - - - - Gains/ (losses) £ - - - - - - |
Transfers £ - - - - - Transfers £ - - - (4,420) - (4,420) |
31 July 2024 £ 156 - 1,006 5,209 66 |
|---|---|---|---|---|---|
| 6,437 31 July 2023 £ 156 - 1,006 5,209 66 |
|||||
| 6,437 |
Pool Fund
Funds raised in a fundraising campaign which can only be expended on building a new swimming pool or on maintaining the existing pool.
Solent Network
Funds held on behalf of Solent Network to enable them to run a long distance meet each year. No meet was able to take place during the year to 31 July 2021 due to Covid-19 restrictions.
Starting blocks / clock
Funds given to Fareham Nomads to allow them to buy a pace clock and new starting blocks for the pool at West Hill Park. A new pace clock was purchased in the year to 31 July 2020 and the deposit for the new starting blocks was paid in the year to 31 July 2021. The starting blocks are expected to be delivered just after the year-end.
D F Fund
Funds raised to assist the previous head coach and his family after he was involved in a traffic accident.
Transfers between funds
The transfers from restricted to unrestricted funds reflect tangible fixed assets which have been purchased using restricted funds, but are held for general purpose, in accordance with SORP 2019 section 2.26.
13. Analysis of net assets between funds
| Tangible Net current fixed assets assets £ £ Unrestricted funds 3,358 53,023 Restricted funds - 6,437 3,358 60,460 |
2024 Total £ 57,381 6,437 |
|---|---|
| 63,818 |
Page 12
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2024
| Tangible fixed assets £ Unrestricted funds 5,718 Restricted funds - 5,718 14. Related parties There were no related party transactions. 15. Financial instruments The carrying amounts of the charity's financial instruments are as follows: Financial assets Debt instruments measured at amortised cost: - Other debtors (note 10) Financial liabilities Measured at amortised cost - Other creditors (note 11) - Other taxes & social security (note 11) |
Net current assets £ 42,030 6,437 48,467 2024 £ - |
2023 Total £ 47,748 6,437 |
|---|---|---|
| 54,185 2023 £ - - 9,200 508 9,708 |
||
| - 2,394 818 3,212 |
Page 13
Fareham Nomads Swimming Club
Detailed Statement of financial activities
For the year ended 31 July 2024
| Income Donations and legacies Gift aid Subscriptions Other trading activities Fundraising events Charitable activities Training and coaching fees Competitions and galas Training and other activities Memberships Other income Bank loyalty bonus Total income Expenditure Charitable activities Teaching fees Pensions Coaching fees Pool hire Competition entries ASA registrations and licences Team Unify fees Other expenses Coach and teacher training Uniforms and badges Transport Medals and trophies Fundraising expenses Depreciation - Plant and machinery - Computer equipment |
2024 £ 8,194 - 8,194 5,222 101,268 37,006 - 68,087 219,777 807 220,584 10,091 1,295 65,325 76,835 24,866 7,624 1,448 4,991 1,075 - 4,444 4,646 288 4,133 - 207,061 |
2023 £ 8,479 26 |
|---|---|---|
| 8,505 5,743 80,048 39,718 - 64,931 |
||
| 198,945 1,943 |
||
| 200,888 | ||
| 10,950 1,196 57,945 82,139 18,962 7,354 1,542 2,274 25 - - 2,757 565 3,791 - |
||
| 189,500 |
Page 14
Fareham Nomads Swimming Club
Detailed Statement of financial activities
For the year ended 31 July 2024
| Support costs Management Insurance Post and Stationery Sundries Computer costs Finance Bank charges Governance costs Independent examiner’s fee Total expenditure Net income |
2024 £ 353 207 396 1,301 2,257 115 115 1,518 1,518 210,951 9,633 |
2023 £ 322 30 92 1,012 |
|---|---|---|
| 1,456 145 |
||
| 145 1,200 |
||
| 1,200 | ||
| 192,301 | ||
| 8,587 |
Page 15