Charity number: 1179105
Fareham Nomads Swimming Club
Trustees’ annual report and financial statements
For the year ended 31 July 2025
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 | 5 |
| Examiner’s report to the Trustees | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
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) – Resigned 18/12/2024 | |
| G Knipe (Secretary) – Resigned 18/12/2024 | |
| C White (Secretary) – Appointed 09/10/2024 | |
| R Davies (Treasurer) | |
| A Attwood | |
| A Hartley – Resigned 25/03/2025 | |
| D Beale – Appointed 09/10/2024 | |
| 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 2025
The Trustees present their report and the financial statements for the year ended 31 July 2025. The Trustees who served during the year and up to the date of this report are set out on page 1.
Significant activities
Following a period of rebuilding and consolidation, the 2024-25 financial year has presented a different set of challenges for Fareham Nomads. A decision to reset our Learn 2 Swim (L2S) teaching section has seen a significant increase in the number of L2S swimmers, but this has coincided with a similar-sized reduction in the number of competitive squad swimmers. Clearly, a thriving L2S section lays the foundation for the Club to build on over the coming years, but the immediate impact of this shift in membership has been a reduction in fee income. Overall swimmer numbers have now reached (and subsequently exceeded) the 200 mark for the first time since the COVID pandemic, which suggests that we are becoming more sustainable in the medium term.
Several factors have combined over the financial year to reduce our income and increase our expenditure:
-
There was a reduction in money raised through fundraising activities throughout the year – less sponsorship was achieved in the Big T challenge than in previous years and there was no Christmas raffle to bring additional funds in
-
The annual Nomads Valentine Meet generated £2k less profit than in 2023-24 – despite a similar number of swimmers, a shift in uptake towards longer distance races meant less income from visiting clubs
-
Celebrating Nomads’ 50th anniversary resulted in some one-off costs for hire of party equipment, which was only partially offset by income from ticket sales
-
Everyone Active pool fees increased at the maximum level allowed by their contract again – while this level was lower than the previous two years, it still equated to a jump of over 5% which we have felt unable to fully pass on to the membership
-
The resetting of L2S required an £1k investment in new swimming hats for all L2S swimmers, with different colours to represent the stage of their development
-
We invested in a further four portable backstroke ledges to ensure that we had enough to cover all lanes at our annual Club Championships (funds were released from restricted funds for this purpose)
Against this, a concerted effort to boost the number of Gift Aid declarations amongst our membership saw a 42% increase in the amount we were able to claim back from HMRC, and we were successful in obtaining a £1k grant from the Hampshire & Isle of Wight Community Fund to cover the majority of the cost of medals for the Valentine Meet 2025.
While we did incur a loss in the 2024-25 year, it should be noted that we continue to achieve our stated aim of holding a minimum of three months’ running costs in our reserves, albeit with very little to spare. With no significant capital outlays anticipated for the coming year and with some more focus on fundraising, we would hope to recoup the majority of this year’s losses.
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 the 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.
Page 2
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2025
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 "to 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 and 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
-
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 membership and training fees
-
Resetting Learn 2 Swim and employing a new Learn 2 Swim Co-Ordinator to reinvigorate that part of the Club
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 teaching, training and competitions. In addition to the new L2S Co-Ordinator, we have taken on a further three regular teachers during the year and have seen the same number move on. In the competitive squads, we have taken on one permanent swimming coach and one land training coach, while our former Club Coach has moved into a Swim Programme Manager role and the former Development Coach has become our Trainee Head Coach. The balance of swimmers across the squads is broadly where we would like it to be, subject to seasonal fluctuations.
In addition to the annual Valentine Meet, the Club also hosted two invitational Novice Distance Meets, allowing swimmers without previous times in the 800m and 1500m Freestyle to swim these events for the first time. Seven other clubs were allowed to take part and the events were well received, although they did not generate a significant amount of income.
Club performance in competition has been excellent throughout the year, with large numbers of medals being won at both junior and senior levels, culminating in Nomads crowning its first home-grown national champion in over a decade at the end of season finale in Sheffield.
Page 3
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2025
Fundraising activities
Most of the Club’s fundraising income for the year arose from the ‘Big T Challenge’ although, as previously mentioned, this did not gain the level of interest previously seen. We continue to host bingo nights which generate a small net income but are primarily intended as social events to bring Club members together away from the swimming pool.
FINANCIAL REVIEW
Financial position
The Trustees are satisfied with the incoming resources of £233,825 (2024: £220,584), outgoing expenditure of £236,123 (2024: £210,951) and net expenditure of (£2,298) (2024: net income £9,633), in view of the circumstances set out in the report.
Membership
The number of swimming members as at 31 July 2025 is 200.
Reserves policy
The unrestricted reserves of the Club as at 31 July 2025 were £56,992 (2024: £57,381). The Clubs free reserves (unrestricted net current assets) are £54,303 (2024: £53,023). The Club’s Reserves Policy states that our main aim is to 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 still felt that three months’ running costs is the minimum amount we would wish to hold for this eventuality, therefore we wish to continue to build the current reserves.
FUTURE PLANS
We hope that the healthy numbers now seen in Learn 2 Swim will gradually begin to transfer through to the competitive squads, resulting in a return to the kind of numbers the squads have enjoyed over recent years. Our specific objectives for the year are:
-
To have all available classes and squads full, with a waiting list to join the Club
-
To develop the workforce and increase the number of trained volunteers and technical officials, particularly at the younger end of the Club
-
To build the unrestricted reserves beyond the desired minimum level
-
To minimise increases in monthly fees for swimmers by driving up membership numbers and maximising income from other sources, including grants, sponsorship and hosting additional open meets
Page 4
Fareham Nomads Swimming Club
Report of the Trustees for the year ended 31 July 2025
Statement of trustees’ responsibilities for the year ended 31 July 2025
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:
-
select suitable accounting policies and then apply them consistently;
-
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 5
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 2025 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 2. 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 6
Fareham Nomads Swimming Club
Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 July 2025
| Unrestricted funds Notes £ Income from: Donations and legacies Donations 2 13,596 Charitable activities Training and coaching 112,892 Competitions and galas 45,780 Trading and other activities 747 Memberships 54,921 Grants 59 Other trading activities 3 3,870 Other income 960 Total income 232,825 Expenditure on: Fundraising 4 4,386 Charitable activities 5 Training and coaching 186,344 Competitions and galas 41,560 Trading and other activities 994 Total expenditure 233,284 Net income/(expenditure) (459) Transfers between funds - Net movement in funds (459) Reconciliation of funds: Total funds brought forward 57,381 Total funds carried forward 56,922 |
Restricted funds £ - - - - - 1,000 - 1,000 - - 1,066 1,773 2,839 (1,839) - (1,839) 6,437 4,598 |
2025 Unrestricted Restricted Total funds funds £ £ £ 13,596 8,194 - 112,892 101,268 - 45,780 37,006 747 - - 54,921 68,087 - 1,059 - - 3,870 5,222 - 960 807 - 233,825 220,584 - 4,386 145 - 186,344 163,187 - 42,626 42,521 - 2,767 5,098 - 236,123 210,951 - - (2,298) 9,633 - - - - (2,298) 9,633 - 63,818 47,748 6,437 61,520 57,381 6,437 |
2024 Total £ 8,194 101,268 37,006 - 68,087 - 5,222 807 |
|
|---|---|---|---|---|
| 220,584 | ||||
| 145 163,187 42,521 5,098 |
||||
| 210,951 | ||||
| 9,633 - |
||||
| 9,633 54,185 |
||||
| 63,818 |
All recognised gains and losses are included in the statement of financial activities
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 7
Fareham Nomads Swimming Club
Balance Sheet as at 31 July 2025
| 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 12 Total funds |
2025 £ 2,619 2,619 2,076 59,406 61,482 (2,581) 58,901 61,520 61,520 56,922 4,598 61,520 |
2024 £ 3,358 |
|---|---|---|
| 3,358 2,315 61,357 |
||
| 63,672 (3,212) |
||
| 60,460 63,818 |
||
| 63,818 | ||
| 57,381 6,437 |
||
| 63,818 |
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 9 to 14 form an integral part of these financial statements.
Page 8
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2025
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 9
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2025
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 11,796 Subscriptions 1,800 13,596 |
Restricted funds £ - - - |
2025 Unrestricted Total funds £ £ 11,796 8,194 1,800 - 13,596 8,194 |
Restricted funds £ - - - |
2024 Total £ 8,194 - |
|---|---|---|---|---|
| 8,194 |
3. Other trading activities
| Unrestricted funds £ Fundraising events 3,870 3,870 Fundraising costs Unrestricted funds £ Other fundraising expenses 4,189 Support costs 197 4,386 |
Restricted funds £ - - Restricted funds £ - - - |
2025 Unrestricted Total funds £ £ 3,870 5,222 3,870 5,222 2025 Unrestricted Total funds £ £ 4,189 - 197 145 4,386 145 |
Restricted funds £ - - Restricted funds £ - - - |
2024 Total £ 5,222 |
|---|---|---|---|---|
| 5,222 2024 Total £ - 145 |
||||
| 145 |
4. Fundraising costs
Page 10
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2025
5. Charitable activities
| Training and coaching Competitions and galas Trading and other activities |
Direct Support costs (see note 6) £ £ 183,910 2,434 41,962 664 2,697 70 228,569 3,168 |
2025 Total £ 186,344 42,626 2,767 231,737 |
2024 Total £ 163,187 42,521 5,098 |
|---|---|---|---|
| 210,806 |
6. Governance and support costs
| Management £ Raising donations and legacies 121 Training and coaching 1,004 Memberships 488 Competitions and galas 407 Trading and other activities 43 2,063 Staff costs Employment costs Wages and salaries Social security costs Pension contributions |
Finance Governance £ £ 6 70 50 584 24 284 20 237 2 25 102 1,200 |
Total 2025 £ 197 1,638 769 664 70 3,365 2025 £ 49,554 - 1,111 50,665 |
Total 2024 £ 145 1,786 3,478 321 112 |
|
|---|---|---|---|---|
| 3,890 2024 £ 42,675 - 1,295 |
||||
| 43,970 |
7. Staff costs
The average number of employees during the year was 3 (2024: 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 (2024: None).
8. Net outgoing resources for the year
| Net outgoing resources for the year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Net outgoing resources for the year is stated after charging: | ||
| Depreciation and other amounts written off tangible assets | 1,473 | 4,133 |
| Independent examiner's remuneration | 1,200 | 1,200 |
Page 11
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2025
9. Tangible fixed assets
| Cost At 1 August 2024 Additions in year Disposals in year At 31 July 2025 Depreciation At 1 August 2024 Charge for the year On disposals At 31 July 2025 Net book values At 31 July 2025 At 31 July 2024 10. Debtors Amounts due within 1 year: Trade debtors Prepayments 11. Creditors: amounts falling due within one year Taxation and social security Other creditors |
Plant and machinery £ 20,729 734 - 21,463 17,371 1,473 - 18,844 2,619 3,358 |
Computer equipment £ - - - - - - - - - - 2025 £ 2,076 - 2,076 2025 £ 582 1,999 2,581 |
Total £ 20,729 734 - |
|---|---|---|---|
| 21,463 | |||
| 17,371 1,473 - |
|||
| 18,844 | |||
| 2,619 | |||
| 3,358 2024 £ - 2,315 |
|||
| 2,315 2024 £ 818 2,394 |
|||
| 3,212 |
Page 12
Fareham Nomads Swimming Club
Notes to the financial statements for the year ended 31 July 2025
12. Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| 1 D F fund Solent Network Pool fund HIWCF fund 1 D F fund Solent Network Pool fund HIWCF fund |
August 2024 £ 156 1,006 5,209 66 6,437 August 2023 £ 156 1,006 5,209 66 6,437 |
Income Expenditure £ £ - - - - - (1,773) 1,000 (1,066) 1,000 (2,839) Income Expenditure £ £ - - - - - - - - - - |
Gains/ (losses) £ - - - - - Gains/ (losses) £ - - - - - |
Transfers £ - - - - Transfers £ - - - - |
31 July 2025 £ 156 1,006 3,436 - |
| 4,598 31 July 2024 £ 156 1,006 5,209 66 |
|||||
| 6,437 |
D F Fund
Funds raised to assist the previous head coach and his family after he was involved in a traffic accident.
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.
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.
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 2,619 54,303 Restricted funds - 4,598 2,619 58,901 Tangible Net current fixed assets assets £ £ Unrestricted funds 3,358 53,023 Restricted funds - 6,437 3,358 60,460 |
2025 Total £ 56,922 4,598 |
|---|---|
| 61,520 | |
| 2024 Total £ 57,381 6,437 |
|
| 63,818 |
Page 13
Fareham Nomads Swimming Club
Notes to the financial statements
for the year ended 31 July 2025
14. Related parties
There were no related party transactions.
15. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
| 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) |
2025 £ - - 1,999 582 2,581 |
2024 £ - |
| - 2,394 818 |
||
| 3,212 |
Page 14
Fareham Nomads Swimming Club
Detailed Statement of financial activities For the year ended 31 July 2025
| 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 Transport Medals and trophies Fundraising expenses Depreciation - Plant and machinery - Computer equipment |
2025 £ 11,796 1,800 13,596 3,870 112,892 45,780 1,806 54,921 232,865 960 233,825 13,771 1,111 73,010 92,109 28,303 8,551 1,393 2,698 1,043 1,399 3,709 4,188 1,473 - 232,758 |
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 |
Page 15
Fareham Nomads Swimming Club
Detailed Statement of financial activities
For the year ended 31 July 2025
| Support costs Management Insurance Post and Stationery Sundries Computer costs Finance Bank charges Governance costs Independent examiner’s fee Total expenditure Net income |
2025 £ 394 261 799 609 2,063 102 102 1,200 1,200 236,123 (2,298) |
2024 £ 353 207 396 1,301 |
|---|---|---|
| 2,257 115 |
||
| 115 1,518 |
||
| 1,518 | ||
| 210,951 | ||
| 9,633 |
Page 16