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2022-12-31-accounts

Out to Swim

Annual Report and Accounts

31 December 2022

Charity Registration Number 1181454

Contents

Reports

Legal and administrative information 1
Trustees’ report 3
Independent examiner’s report 11
Accounts
Statement of financial activities 12
Balance sheet 14
Principal accounting policies 15
Notes to the accounts 18

Out to Swim

Legal and administrative information

Trustees Richard Walton (resigned on 5thMarch 2022)
Matthew Bazeley- Bell (appointed on 5thMarch 2022)
Joe Palmer
Stephen Lue Chair
Club Committee Stephen Clark Chair of the Club
Committee
Kelvin Hall Club Secretary
Neal Thomson Club Treasurer
Alex Davis Equality, Diversity and
Inclusivity Officer
Regen-James Gregg Communications Officer
Michelle Weltman Head Coach
Plus the Chair of each Subcommittee
South Sub-Committee Martin Wheeler Chair of the South Sub-
committee
Alex Davis Membership Secretary
Matthew Ives Sub-committee Treasurer
Iain Gowers Communications Officer
Kirstin Eibi Social Secretary
Matthew Ives Social Secretary
OTS West Matthew Bazeley-Bell Co-chair Development
Alastair Bazeley-Bell Co-chair Swimming
James Craig Co-chair Membership
Water Polo Sub- Luke Millican Chair of the Water Polo
Committee Sub-committee
Lucy Morgan Sub-committee Treasurer
Joanna Redshaw Women’s Secretary
Kelvin Hall Men’s Secretary
Georgina Toft Women’s Captain
James Fesemeyer Men’s A Captain
Arthur Dabrowski Men’s B Captain
Jo O’Connor / Joseph Palmer Development Rep
Walid Hazem Referee Rep
Artistic Swimming Stephanie Ramsay Chair of the Artistic
Sub-Committee Swimming Sub-committee
Mark Hollis Membership Secretary
John Amberton Communications Officer
Miles Coote Competition Secretary
Sai Li Social Secretary

Out to Swim 1

Legal and administrative information

Swimming Sub- Dermot Flynn Chair of the Swimming Committee Sub-committee Debbie McLauchlan Sub-committee Treasurer Ella Hattey Sub-committee Secretary Keith Millar New Swimmers Rep Alex Rogers Attendance Rep Anthony Chamberlain Lanes 5-10 Rep Steph Ramsay Women’s Competition Rep Paul Gray Men’s Competition Rep Rowan Longhurst and Open Water Hunter Charlton Representatives Registered address 73 Cornhill London EC3V 3QQ Charity registration 1181454 number Independent Examiners Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers Lloyds Bank Plc 25 Gresham Street London EC2V 7HN

Out to Swim 2

Trustees’ report 31 December 2022

The trustees present their report and financial statements for the year ended 31 December 2022.

Reference and administrative information set out on pages 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the Charities Act 2011, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

Out to Swim (OTS) has two Charitable Objects:

The charity’s first purpose is therefore to promote equality of access to, and diversity in, aquatic sport. The charity has a particular focus on LGBTQ+ communities and seeks to educate and broaden awareness of the need for, and benefits of, equality and diversity in aquatic sport. The charity looks to reach out into areas under-represented in aquatic sport in order to make people of under-represented backgrounds feel welcome in a number of aquatic sport disciplines. OTS participates in programmes such as providing swimming teaching and coaching support to both TAGS, a community swimming group for transgender and nonbinary people, and Positive Strokes, a community swimming group for people living with HIV. Women are underrepresented within swimming and water polo so the club runs weekly women only swimming sessions to create an environment where women who feel safer with other women can engage with the club, swim together and improve their health. People from Black and other minority ethnic backgrounds are underrepresented within aquatic sport and Out to Swim has been working on promoting the club within black and minority ethnic (BAME) LGBTQ+ spaces and undertaking other projects such as improving our representation in our online media to encourage participation from the BAME LGBTQ+ community.

Out to Swim 3

Trustees’ report 31 December 2022

Objectives and activities (continued)

Purposes and aims (continued)

In support of the charity’s second object OTS runs a comprehensive programme of swimming lessons and coached sessions on every day of the week. To ensure full community participation is possible the charity runs two grant programmes: The Graham Perlman Fund, which seeks to support people with HIV to access aquatic sport for recreation and to access amateur competitions. The OTS Scholarship Fund seeks to ensure that those members of the community with limited financial means can access the healthy recreation opportunities provided by all of our aquatic disciplines. It also provides support to attend a limited number of amateur competitions. This is important because different members of the community have different motivators to stay healthy.

For those best motivated by friendly competition the ability to access a couple of competitions with other members of OTS can be a key factor in encouraging them to exercise regularly.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The charity’s objects are pursued through three strategic priorities: diversity; development and community bearing in mind the charity’s values of friendship, respect and inclusivity. These are factors of our membership that are considered at each annual meeting. The enduring priority for the trustees is to ensure that the activities of all the aquatic disciplines are available to as many people as possible. This means a focus on some key areas:

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The charity's main activities and who it tries to help are described below. All its charitable activities focus on aquatic sport and are undertaken to further Out to Swim’s charitable purposes for the public benefit.

OTS continues to go from strength to strength. OTS has been undertaking a review of its structure for us to operate as one club with many divisions, this is exciting work and will have positive consequences for all of us and future generations of OTS across the whole country .

Out to Swim 4

Trustees’ report 31 December 2022

Objectives and activities (continued)

Achievements and performance (continued)

It means we can compete together as one powerhouse in relays at national level and also compete in our local divisions as local clubs, we get to have the best of both worlds.

The club continues to work diligently on its work around Diversity and Inclusion led by Alex Davis to make it accessible for people from all backgrounds. In 2022/23 Out to Swim invested in equity, diversity and inclusion training for all committee members and swimming coaches. Two virtual workshops took place over the year to provide a learning opportunity and a space to ask questions and share knowledge. The Trustees will be having a follow up session with the trainer (Chris Gibbons from Inside Inclusion) to consider what the next steps in terms of learning and development will be for volunteers and coaches. Alongside club wide learning, individual club members and teams have taken the lead in trialling new ways to both promote our club and sports to diverse audiences and find ways to create more inclusive spaces.

Highlights include:

The club has benefitted from the volunteer time of many, many members of the club and the trustees wish to thank absolutely everyone for their dedication, commitment and diligence in helping the club work. The club continues to refine its polices, policies procedures and general functioning and we thank all the people who have used their skills, patience, project management skills and love to improve the structure and working of our club. The trustees wish to thank all those who work hard on the internal communications and social media for the club, it is a tireless job and is key to the smooth working of the club and member participation. It also helps us all to feel part of the same endeavour.

Everyone will have their own way of describing the magic of what OTS brings to their lives. In many ways however, words are not sufficient to acknowledge the fraternity, community and sense of family that OTS brings to people’s lives.

The benefits to mental and physical health, the sense of purpose and diversity of experience that the club brings to people’s lives. For many, their relationship with OTS is one of the most important relationships in their lives.

Out to Swim 5

Trustees’ report 31 December 2022

Objectives and activities (continued)

Financial review

The statement of financial activities for the year is set out on page 12 of the financial statements. A summary of the financial results and the work by the Association is set out below.

Income for the year included donations and legacies of £5,441 (2021: £3,019), income from charitable activities of £192,602 (2021: £89,142) and investment income and interest of £29 (2021: £15). Total income amounted to £215,726 (2021: £92,216).

Expenditure for the year comprised costs of activities and totalled £220,916 (2021: £109,557). During the year the charity was able to issue grants to members of £9,380 (2021: £3,988) in order to widen the access of aquatic sport to existing and new members.

Reserves policy and going concern

The purpose of the Reserves Policy for the charity is to ensure its ongoing operations are protected in the event of a sudden decline in financial health. The reserve is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses. The reserve may also be used for one-time, non-recurring expenses that will build long-term capacity, such as staff development or investment in infrastructure.

Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap; in situations like this the trustees would use reserves to restructure the charity in order to ensure its future financial viability.

The reserve is defined as unrestricted funding, held in cash or near-cash, that has not been designated for a specific purpose (e.g. for generating income or to support a grants programme). The reserve will be reviewed and adjusted in response to internal and external changes.

The target minimum reserve fund is equal to three months of normal operating costs, which are to be monitored through a cash flow forecast. The calculation of average monthly operating costs includes all recurring, predictable expenses such as contractor invoices, central costs, expenses, marketing, insurance and charity projects including bursaries and grants.

Depreciation, in-kind, and other non-cash expenses are not included in the calculation. The calculation of average monthly expenses also excludes one-time or unusual, capital purchases.

The amount of the reserve fund target minimum will be calculated each year after approval of the annual budget, reported to the trustees and included in the regular financial reports to the club committee.

Out to Swim 6

Trustees’ report 31 December 2022

Objectives and activities (continued)

Reserves policy and going concern (continued)

From time to time the trustees might choose to designate funds for long term investment in order to realise an income that can be used to further the charity’s objects. These funds will not be counted as part of the charity’s free reserves. Reserves will be held in cash or near cash (accessible in no longer than three calendar months).

The reserve fund will be funded with surplus unrestricted funds. The trustees may from time to time direct that a specific source of revenue be set aside for reserves. Examples may include one-time gifts or bequests, special grants, or special appeals.

Use of the reserves requires the following steps:

If the use of reserves will take longer than 12 months to replenish, the request will be scrutinised more carefully. The Club Committee must receive prior approval from the trustees if the reserves will take longer than 12 months to replenish.

In either case the use of reserves will be reported to the trustees at their next scheduled meeting, accompanied by a description of the analysis and determination of the use of funds and plans for replenishment to restore the reserve fund to the target minimum amount.

The target minimum level of reserves in 2022 was frozen at £48,586 for the second year in a row. Because 2020 and 2021 were such unusual years, with expenditure significantly depressed, the 2019 calculation has been used to set the minimum level of reserves. Actual free reserves at 31 December 2022 were £41,705 (2021: £39,238).

This means that free reserves are approximately £6,881 under (2021: £9,348 in excess of) the reserves policy. The trustees are aware that reserves are around 15% less than the target position, however they are content that over the course of 2023 the charity moved from a deficit position to a surplus position. Now that finances are stabilised the trustees are looking into how to recover the reserves to the target level.

Out to Swim 7

Trustees’ report 31 December 2022

Objectives and activities (continued)

Reserves policy and going concern (continued)

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect of a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Fundraising

The charity is not a member of the Fundraising Regulator because it does not engage in the kind of fundraising activity that would make this a requirement. The charity’s approach to fundraising activity is to seek grants from organisations in order to achieve a particular aim, for example to support coaching of a particular aquatic sport. Where an individual or group with an interest in the charity’s activities would like to make a donation to the charity we consider the reputational implications of the donation. We do not use a professional fundraiser or a commercial participator.

We offer the facility for individuals to make one off or repeat donations online and offer membership of the charity to individuals. We have received no complaints about fundraising.

Structure, governance and management

Out to Swim is a registered Charitable Incorporated Organisation (CIO). The entity was incorporated and registered as a charity with the Charity Commission for England and Wales on 7 January 2019. It is governed by its memorandum and articles of association which were adopted on 2 January 2019. This arrangement replaced an earlier construct of Out to Swim which was constituted by an association model constitution in 1996. The assets of this earlier version of Out to Swim were transferred to the new construct which was duly registered with the Charity Commission under charity number 1181454.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

The day to day management of the charity is delegated to an elected voluntary committee of charity members and is governed by a set of bye laws voted on by the membership and ratified by the trustees. The Chair of the Club Committee is Stephen Clark who acts as the senior leader of the charity supported by Neal Thompson as Club Treasurer. They are supported by a volunteer Club Committee identified in the reference details on page 1.

The annual budget, including the setting of fees, is approved by the membership in accordance with the bye laws. The finances and day to day running of the club are reviewed at a monthly meeting of the Club Committee and reported to the trustees quarterly. Approved minutes of the Club Committee are circulated to all members by the Club Secretary.

Out to Swim 8

Trustees’ report 31 December 2022

Structure, governance and management (continued)

There are a number of sub-committees that carry out much of the day to day running of the charity’s activities including booking of pool space, purchase and maintenance of equipment, membership applications, and the recruiting and scheduling of coaches and teachers.

The trustees meet at least quarterly and often attend Club Committee meetings. As well as considering policy, risk and strategy the trustees personally assess all grant applications. Once grants have been awarded the Club Secretary notifies successful applicants and the Club Treasurer makes payments and fee adjustments to awardees.

Appointment of trustees

The club constitution specifies that there must be three trustees. Trustees are appointed for a period of three years and may stand for a maximum of two consecutive terms. After a trustee’s second term there is a constitutionally imposed period of one year during which that individual may not stand again for trusteeship. Trustees must be members of Out to Swim.

The process for identifying trustees is to ask the membership for expressions of interest. All members interested in becoming a trustee are given the opportunity to speak with at least one of the existing trustees and may then put their name forward. A poll of members is then conducted at the AGM in accordance with the voting provisions laid down in the constitution.

Should a trustee vacancy occur for any reason other than at an AGM the constitution charges the remaining trustees to co-opt replacement trustees. Co-opted trustees must then stand down at the next election. New trustees are then elected in the manner described above.

Related parties and relationships with other organisations

Out to Swim has relationships with a number of community sports organisations. In particular OTS is a member club of the London Region of Swim England and is affiliated with TAGS, Out for Sport, European Gay and Lesbian Swimming Federation (EGLSF), Federation of Gay Games (FOGG) and International Gay and Lesbian Aquatics (IGLA).

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and 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 charitable incorporated organisation and of the incoming resources and application of resources, including the income and expenditure, of the charitable incorporated organisation for that period. In preparing these financial statements, the trustees are required to:

Out to Swim 9

Trustees’ report 31 December 2022

Structure, governance and management (continued)

Statement of responsibilities of the trustees (continued)

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable incorporated organisation. They are also responsible for safeguarding the assets of the charitable incorporated organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable incorporated organisation's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent Examiner

Buzzacott LLP was reappointed as the charitable incorporated organisation’s independent examiner during the year and has expressed its willingness to act in that capacity.

and signed on their behalf by

Stephen Lue Chair of Trustees

Out to Swim 10

Independent examiner’s report 31 December 2022

Independent Examiner’s Report to the Trustees of Out to Swim (‘the charity’)

I report to the charity trustees on my examination of the financial statements of the charitable incorporated organisation for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.

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

Independent examiner’s statement

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

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

19 October 2023

Edward Finch Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL

Out to Swim 11

Statement of financial activities Year to 31 December 2022

Notes
Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
£		 2021
Total
£
Income from:
Donations and legacies
1
Charitable activities

. Aquatic Sport income
2
. Event income
2
Interest income
3
Other

Total income


Expenditure on:

Charitable activities
. Aquatic Sport expenditure
4
. Event expenditure
4
. Grant expenditure
4
Total expenditure


Net (expenditure) for the year
6

Net movement in funds


Reconciliation of funds:

Total funds brought forward
Total funds carried forward
3,941


192,602

17,631

29

23
1,500

—

—

—

—
5,441
192,602
17,631
29
23
3,019

87,004

2,138

15

40

214,226
1,500
215,726
92,216



205,272

6,264

9,104
—

—

276		 205,272
6,264

9,380
103,793

1,776

3,988

220,640
276
220,916
109,557


(6,414)		 1,224
(5,190)		 (17,341)


(6,414)


50,319
1,224

8,372
(5,190)

58,691
(17,341)

76,032
43,905
9,596
53,501
58,691

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 12 to the financial statements.

Out to Swim 12

Statement of financial activities Year to 31 December 2021

Notes
Unrestricted
funds
£		 Restricted
funds
£		 2021
Total
£
Income from:
Donations and legacies
1
Charitable activities

. Aquatic Sport income
2
. Event income
2
Interest income
3
Other

Total income


Expenditure on:

Charitable activities
. Aquatic Sport expenditure
4
. Event expenditure
4
. Grant expenditure
4
Total expenditure


Net (expenditure) income for the year
6

Net movement in funds


Reconciliation of funds:

Total funds brought forward
Total funds carried forward
3,019


87,004

2,138

15

40
—

—

—

—

—
3,019

87,004

2,138

15

40

92,216
—
92,216



103,793

585

3,850
—

1,191

138
103,793

1,776

3,988

108,228
1,329
109,557


(16,012)		 (1,329) (17,341)


(16,012)


66,331
(1,329)

9,701
(17,341)

76,032
50,319
8,372
58,691

Out to Swim 13

Balance sheet 31 December 2022

Notes £ Total
2022
£		 £ Total
2021
£
Fixed assets
Tangible assets
Current assets
Debtors
10
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within
one year
11
Net current assets
Total net assets
The funds of the charity:
Restricted income funds
13
Unrestricted income funds:
. Designated fund – Scholarship Fund
13
. General funds
Total unrestricted funds
Total charity funds
867
60,197		 4,404

1,673
82,025		 —
4,404



49,097		 —



58,691
61,063

(11,966)		 83,698
(25,007)


2,200
41,705


11,081
39,238
53,501 58,691
9,596


43,905		 8,372


50,319
53,501 58,691

Approved by the Trustees on 17 October 2023 and signed on their behalf by:

Joseph Palmer Trustee

Stephen Lue Chair of Trustees

Out to Swim 14

Principal accounting policies 31 December 2022

Out to Swim is a charitable incorporated organisation and is incorporated in England and Wales. The registered office address is 73 Cornhill, London, EC3V 3QQ.

Basis of preparation

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) (“Charities SORP FRS 102”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy.

Assessment of going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Based on the above, the trustees have concluded that it is appropriate for the charity to continue to prepare its accounts on the going concern basis.

Income recognition

Aquatic Sport income, primarily relating to membership income, is recognised once the membership fees have been received in cash. These fees are recognised in the period that they relate to.

Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

Income related to events, which is usually received in advance of the provision of the event, is deferred until the event in reference and related services have been delivered.

Donation and legacy income received is recognised upon receipt.

Donations of gifts, services and facilities

On receipt, donated services are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Out to Swim 15

Principal accounting policies 31 December 2022

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Restricted & Designated reserves

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. The Charity has set-up a designated Scholarship fund in order to support members financially.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Allocation of support costs

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity

Aquatic Sport 100%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

Debtors

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

Short term deposits

Short term deposits include cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

Out to Swim 16

Principal accounting policies 31 December 2022

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Out to Swim 17

Notes to the accounts 31 December 2022

1 Income from donations and legacies

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£
3,019		 Restricted
funds
£
—		 2021
Total
funds
£
Donations 3,941 1,500 5,441 3,019
3,941 1,500 5,441 3,019 — 3,019

2 Income from charitable activities

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Aquatic Sport
income
Events income –
Socials
Total income
from charitable
activities		 192,602
17,631		 —
—		 192,602
17,631		 87,004
2,138		 —
—		 87,004
2,138
210,233 — 210,233 89,142 — 89,142

3 Income from investments

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£
15		 Restricted
funds
£		 2021
Total
funds
£
Bank and
deposits interest		 29 — 29 — 15

All income from bank deposits and short-term deposits held is unrestricted.

Out to Swim 18

Notes to the accounts 31 December 2022

4 Analysis of expenditure

Aquatic Sport
expenditure
£
Event
expenditure
£
Grant
expenditure
£
Governance
costs
£
Support costs
£
2022
Total
£
Coaching costs
Hiring of pool
space
Subscription /
registration fees
Event expenditure
Competition fees
and expenses
Kit and equipment
costs
Grants awarded
to members
Independent
examiner’s fees
Depreciation
Sundry costs
Support costs
Governance costs		 38,063
130,746
16,116

—
15,180

—
—
—
1,101
—
—

—

—
6,264

—
—
—
—

—
—		 —
—
—

—
—
—
9,380
—
—
—		 —
—
—
—
—
—

—
2,220
—
—		 —
—
—
—
—
452
—

—
-
1,394		 38,063
130,746
16,116
6,264
15,180

452
9,380
2,220

1,101

1,394
201,206
1,846

2,220
6,264

—

—
9,380
—
—
2,220
—
(2,220)
1,846
(1,846)
—
220,916

—
—
205,272
6,264
9,380
—		 — 220,916
Aquatic Sport
expenditure
£
Event
expenditure
£		 Grant
expenditure
£		 Governance
costs
£		 Support costs
£		 2021
Total
£
Coaching costs
Hiring of pool
space
Subscription /
registration fees
Event expenditure
Competition fees
and expenses
Kit and equipment
costs
Grants awarded
to members
Independent
examiner’s fees
Sundry costs
Support costs
Governance costs		 29,994
58,891
13,086

—
1,335

—
—
—
—
—

—

—

1,776

—

—

—

—

—		 —
—
—
—
—
—
3,988
—
—		 —
—
—
—
—
—
—
1,920
—		 —
—
—
—
—
779
—
—
(2,212)		 29,994
58,891
13,086
1,776
1,335
779
3,988
1,920
(2,212)
103,306
(1,433)

1,920
1,776

—

—		 3,988
—
—		 1,920
—
(1,920)		 (1,433)
1,433
—		 109,557
—
—
103,793
1,776		 3,988 — — 109,557

Out to Swim 19

Notes to the accounts 31 December 2022

5 Grant making

Grant making
Grants to
institutions
£		 Grants to
individuals
£
Support
costs
£		 2022
Total
funds
£		 2021
Total
funds
£
Membership grantsprovided — 9,380
—		 9,380 3,988

During the year, Out To Swim provided grants to several members for them to compete in national and international competitions out of the designated Scholarship fund. Multiple members of Out To Swim were also supported financially by grants towards discounting their membership fees.

6 Net (expenditure) for the year

This is stated after charging:

2022
£		 2021
£
Independent examiner’s remuneration
Depreciation		 2,220
1,101
1,920

—

7 Related party transactions

There are no related party transactions to disclose for 2022 (2021 - none). None of the trustees were reimbursed expenses.

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9 Tangible fixed assets

Equipment
£		 Total
£
Cost
At 1 January 2022
Additions in year
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
—
5,505		 —
5,505
5,505 5,505
—
1,101		 —

1,101
1,101
1,101
4,404
4,404
— —

All of the above assets are used for charitable purposes.

Out to Swim 20

Notes to the accounts 31 December 2022

10 Debtors

Debtors
2022
£		 2021
£
Prepayments
Accrued income		 —
867		 950
723
867 1,673
Creditors: amounts falling due within one year 2022
£		 2021
£
Accruals 11,966 25,007

11 Creditors: amounts falling due within one year

12 Analysis of net assets between funds

General un-
restricted
£		 Designated
£
Restricted
£		 Total
funds
£
Fund balances at 31 December 2022
Are represented by:
Tangible fixed assets
Net current assets		 4,404
37,301		 —
2,200		 —

9,596		 4,404
49,097
41,705 2,200
9,596		 53,501
General un-
restricted
£		 Designated
£
Restricted
£		 Total
funds
£
Fund balances at 31 December 2021
Are represented by:
Net current assets		 39,238 11,081
8,372		 58,691
39,238 11,081
8,372		 58,691

Out to Swim 21

Notes to the accounts 31 December 2022

13 Movements in funds

At 1
January
2021
£		 Income &
gains
£
Expenditure
& losses
£		 Transfers
£		 At 31
December
2022
£
Restricted funds:
Graham Pearlman Fund
BAME Participation Fund
Pepe Orru Fund
Total restricted funds
Unrestricted funds:
Designated funds
. Scholarship fund
Total designated funds
General funds
Total unrestricted funds
Total funds		 7,384
988
—		 —
—
1,500
(276)

—

—
—

—

—		 7,108
988
1,500
8,372 1,500
(276)		 — 9,596
11,080 500
(9,380)		 — 2,200
11,080
39,239		 500
213,726
(9,380)

(211,260)
—
—		 2,200
41,705
50,319 214,226
(220,640)
—		 43,905
58,691 215,726
(220,916)		 — 53,501
At 1
January
2020
£		 Income &
gains
£
Expenditure
& losses
£		 Transfers
£		 At 31
December
2021
£
Restricted funds:
Graham Pearlman Fund
BAME Participation Fund
Social Re-engagement Fund
Total restricted funds
Unrestricted funds:
Designated funds
. Scholarship fund
Total designated funds
General funds
Total unrestricted funds
Total funds		 7,522
988
1,191		 —
—
—
(138)

—

(1,191)
—

—
—		 7,384
988
—
9,701 —
(1,329)		 — 8,372
14,930 —
(3,850)		 — 11,080
14,930
51,400		 —
92,216
(3,850)

(104,377)
—
—		 11,080
39,239
66,331 92,216
(108,228)
—		 50,319
76,032 92,216
(109,557)		 — 58,691

Purpose of restricted funds

The Graham Pearlman Fund is a fund that was set up from a member’s donation to provide financial support for swimmers with HIV who would otherwise have financial difficulty in being a member of Out to Swim or attending its activities.

Out to Swim 22

Notes to the accounts 31 December 2022

13 Movements in funds (continued)

Purpose of restricted funds (continued)

The BAME Participation fund has been funded by both member and external donations to be utilised on activities to increase BAME membership within Out To Swim.

Peppe Orru Coaching and Development Fund is a fund that was set-up from a member's donation to provide financial support for coaches to get help with paying their coaching qualification fees.

The Social Re-engagement Fund was set-up from member donations to be utilised on activities and events to re-engage with Out To Swim's membership which has been impacted by the Covid-19 lockdown.

Purposes of designated funds

The Scholarship Fund is a designated fund set-up by the Charity to support any members requiring financial support to attend events endorsed, attended or supported by Out To Swim. Expenditure of grant monies from this fund is approved by the Trustees.

Out to Swim 23