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2023-12-31-accounts

Out to Swim

Annual Report and Accounts

31 December 2023

Charity Registration Number 1181454

Contents

Reports
Legal and administrative information 1
Trustees’ report 3
Independent examiner’s report 10
Accounts
Statement of financial activities 11
Balance sheet 12
Principal accounting policies 13
Notes to the accounts 16

Out to Swim

Legal and administrative information

Trustees Joe Palmer Chair of Trustees
Matthew Bazeley-Bell
Stephen Lue to 4 March 2023
Alex Davies from 4 March 2023
Club Council Matthew Bazeley-Bell Chair of the Club Council
Kelvin Hall Club Secretary
Robert Nemet Club Treasurer
Michelle Weltman Head Coach
Plus the Chair of each Subcommittee
OTS Brighton & Hove Martin Wheeler Chair
Thomas Lillington Secretary
Matthew Ives Treasurer
Iain Gowers Communications Officer
Kirstin Eibi Membership Secretary
OTS Bristol James Craig Chair
Al Jarratt Treasurer & Swimming Lead
Danni Carter Membership Secretary
Emma Rowden Open Water Swimming Lead
Michael Newby Social And Activities Lead

Water Polo Sub-		 Luke Millican Chair
Committee Lucy Morgan Treasurer
Molly Boal Amazons Secretary
Kelvin Hall Men’s Secretary
Jo Redshaw Amazons Captain
Ricardo Bario Men’s A Captain
David Hudson Men’s B Captain
Jo O’Connor / Joseph Palmer Development Rep
Artistic Swimming Stephanie Ramsey Chair
Sub-Committee Rebecca Martinho Membership Secretary
Alice Boilini Competition rep
Cassie Smyth Social Media Rep
Amy Allen Social Rep
Craig Brimmer Comms Rep

Out to Swim 1

Legal and administrative information

Swimming Sub- Daniel Hadden Chair Committee Myles Hanlon Sub-committee Treasurer Alex Rogers Sub-committee Treasurer Gus Veasey & Hannah Soltz Competition Rep Ryan Brown Comms Rep Keith Millar New Swimmers Rep Richard Snow Open Water Rep Nick Grant Lane 4-10 Rep Martin Purcell Lessons Rep 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 2023

The trustees present their report and financial statements for the year ended 31 December 2023.

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 Objectives:

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.

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

Out to Swim 3

Trustees’ report 31 December 2023

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 .

With over three decades of operation and growth - in participation, in aquatic disciplines, in geographic reach and in ambition - 2023 was finally the year that we moved from being solely registered as a single Swim England affiliated aquatics club to establish a number of aquatics clubs enabling participation locally and a new national club which enables members to participate together. We remain one entity - Out to Swim - the charity - to support our charitable objectives as far and wide as possible and enabling us to operate effectively ‘as one’.

Our Clubs’ Council - where the leadership team of Out to Swim works together - replaced what was formerly the Out to Swim Committee and has worked effectively at a more strategic level and supported each local club to take responsibility for its day-to-day running.

Out to Swim 4

Trustees’ report 31 December 2023

We agreed a three-year business plan with our members. As we look forward, we want our focus to be on how our clubs not only provide ‘aquatics for all’ but how we realise the sum of our parts as a national movement for inclusion. Our plans for the next three years are therefore all about local sustainability which allows for growth through supporting new clubs to open.

We are also proud of the direct financial support and grants we have provided this year to members for them to participate in our club or take part in our activities and have established a new and successful aquatics camp and attended competitions. We are proud of the c. £10k given in grants to support our members this year.

We participated as a whole club at many events across the country and in each region of our operation. These included the Royal Navy gala, Sussex relay event, TIP in Paris, Nationals in Sheffield. Artistic swimming and Waterpolo members also took part in many events both in the UK and across the world. We celebrate the achievement of every member involved and celebrate not only the medals but their participation and flying the flag for inclusivity in aquatics across the world.

London IGLA 2023, led and hosted by Out to Swim, proved to be an extraordinary event, surpassing expectations and leaving an indelible mark on the global LGBTQ+ aquatics community. With a diverse range of participants, engaging activities, and a strong emphasis on inclusivity, the event successfully achieved its goals of celebrating LGBTQ+ representation in aquatics while fostering an environment of acceptance and support.

To underpin our direct support to members, we have introduced a member assistance programme and intend to review its value to members in 2024.

Financial review

The statement of financial activities for the year is set out on page 11 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 £5,963 (2022: £5,441), income from charitable activities of £241,692 (2022: £210,233) and investment income and interest of £524 (2022: £29). Total income amounted to £248,522 (2022: £215,726).

Expenditure for the year comprised costs of activities and totalled £246,456 (2022: £220,916). During the year, the charity was able to issue grants to members of £2,275 (2022: £9,380) in order to widen the access of aquatic sport to existing and new members.

The funds held on deposit are £nil (2022: £nil).

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

Out to Swim 5

Trustees’ report 31 December 2023

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 Council.

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 Council 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.

Actual free reserves at 31 December 2023 were £46,310 (2022: £41,705). The trustees are aware that reserves are 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 6

Trustees’ report 31 December 2023

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 constitution which was 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.

Structure, governance and management (continued)

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 Council and reported to the trustees quarterly. Approved minutes of the Club Council are circulated to all members by the Club Secretary.

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 Council 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.

Out to Swim 7

Trustees’ report 31 December 2023

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:

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

Out to Swim 8

Trustees’ report 31 December 2023

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.

The trustees’ annual report has been approved by the trustees on 28[th] of October 2024 and signed on their behalf by

William Holmes Trustee

Out to Swim 9

Independent examiner’s report 31 December 2023

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 2023.

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.

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

Out to Swim 10

Statement of financial activities Year to 31 December 2023

Notes
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 income for the year
6
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestrict
ed
funds
£
5,663
237,157
4,535
524
343
248,222
241,751
2,430
1,636
245,817
2,405
2,405
43,906
46,311		 Restrict
ed
funds
£
300
—
—
—
—
300
—
—
639
639
(339)
(339)
9,595
9,256		 2023
Total
£
2022
Total
£
5,963
5,441
237,157
192,602
4,535
17,631
524
29
343
23
248,522
215,726
241,751
205,272
2,430
6,264
2,275
9,380
246,456
220,916
2,066
(5,190)
2,066
(5,190)
53,501
58,691
55,567
53,501

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 11

Balance Sheet Year to 31 December 2023

Notes £
7,838
—
78,712
86,550
(35,152)
—
46,310		 2023
£		 £
867
—
60,197
61,064
(11,966)
2,200
41,705		 2022
£
Fixed assets
Tangible Fixed Assets
9
Current assets
Debtors
10
Short-term deposits
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:
12
Restricted income funds
13
Unrestricted income funds:
- Designated fund – Scholarship
Fund
13
-General funds
13
Total unrestricted funds
Total charity funds		 4,169
51,399		 4,404
49,098
55,567 53,502
9,257 9,596
46,310 43,905
55,567 53,501

Approved by the Trustees on 29 August 2024 and signed on their behalf by:

Bill Holmes Trustee

Out to Swim 12

Principal accounting policies Year to 31 December 2023

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.

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.

Out to Swim 13

Principal accounting policies Year to 31 December 2023

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.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £300. Depreciation costs are allocated to activities based on the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Training equipment 3 - 5 years

Short term deposits

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

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

Out to Swim 14

Principal accounting policies Year to 31 December 2023

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 15

Notes to the accounts Year to 31 December 2023

1 Income from donations and legacies

Donations Unrestricted
funds
£
5,663
5,663		 Restricted
funds
£
300
300		 2023
Total
funds
£
5,963
5,963		 Unrestricted
funds
£
3,941
3,941		 Restricted
funds
£		 2022
Total
funds
£

1,500

1,500		 5,441
5,441

2 Income from charitable activities

Aquatic Sport income
Sub-total for Aquatic
Sport income
Events income –
Socials
Total income from
charitable activities		 Unrestricted
funds
£
237,157
237,157
4,535
241,692		 Restricted
funds
£
—
—
—
—		 2023
Total
funds
£
237,157
237,157
4,535
241,692		 Unrestricted
funds
£
192,602
192,602
17,631
210,233		 Restricted
funds
£
—
—
—
—		 2022
Total
funds
£
192,602
192,602
17,631
210,233

3 Income from investments

Bank and deposits
interest		 Unrestricted
funds
£
524
524		 Restricted
funds
£
2023
Total
funds
£
—
524
—
524		 Unrestricted
funds
£
29
29		 Restricted
funds
£
—
—		 2022
Total
funds
£
29
29

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

Out to Swim 16

Notes to the accounts Year to 31 December 2023

4
Analysis of

Coaching costs
Hiring of pool space
Subscription /
registration fees
Event expenditure
Competition fees and
expenses
Kit and equipment
costs
Grants awarded to
members
Audit fees
Depreciation
Sundry costs
Support costs
Governance costs		 expenditure
Aquatic Sport
expenditure
£
45,722
155,668
26,385
—
3,181
—
—
—
1,042
—
231,998
7,149
2,604
241,751		 Event
expenditure
£
—
—
—
2,430
—
—
—
—
—
—
2,430
—
—
2,430		 Grant
expenditure
£
—
—
—
—
—
—
2,275
—
—
—
2,275
—
—
2,275		 Governance
costs
£
—
—
—
—
—
—
—
2,604
—
—
2,604
—
(2,604)
—		 Support
costs
£
—
—
—
—
—
254
—
—
—
6,895
7,149
(7,149)
—
—		 2023
Total
£
45,722
155,668
26,385
2,430
3,181
254
2,275
2,604
1,042
6,895
246,456
—
—
246,456
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		 Aquatic Sport
expenditure
£
38,063
130,746
16,116
—
15,180
—
—
—
1,101
—
201,206
1,846
2,220
205,271		 Event
expenditure
£
—
—
—
6,264
—
—
—
—
—
—
6,264
—
—
6,264		 Grant
expenditure
£
—
—
—
—
—
—
9,380
—
—
—
9,380
—
—
9,380		 Governance
costs
£
—
—
—
—
—
—
—
2,220
—
—
2,220
—
(2,220)
—		 Support
costs
£
—
—
—
—
—
452
—
—
-
1,394
1,846
(1,846)
—
—		 2022
Total
£
38,063
130,746
16,116
6,264
15,180
452
9,380
2,220
1,101
1,394
220,916
—
—
220,916

Out to Swim 17

Notes to the accounts Year to 31 December 2023

5 Grant making

Grant making
Membership grants provided Grants to
institutions
£
—
—		 Grants to
individuals
£
2,275
2,275		 Support
costs
£
—
—		 2023
Total
funds
£
2,275
2,275		 2022
Total
funds
£
9,380
9,380

Multiple members of Out to Swim were supported financially by grants towards discounting their membership fees. In 2023 and 2022 all grants were made to individuals.

6 Net (expenditure) income for the year This is stated after charging:

Independent examination 2023
£
2,604		 2022
£
2,220

7 Related party transactions

There are no related party transactions to disclose for 2023 (2022- £nil). 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.

Out to Swim 18

Notes to the accounts Year to 31 December 2023

9 Tangible Fixed Assets

Tangible Fixed Assets
Cost
At the start of the year
Additions in the year
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
At the end of the year
At the start of theyear		 Equipment
£		 Total
£
4,404
807
5,211
—
1,042
1,042
4,169
4,404
4,404
807
5,211
—
1,042
1,042
4,169
4,404

All of the above assets are used for charitable purposes.

10 Debtors

Debtors
Prepayments
Accrued income		 2023
£
2,103
5,735
7,838		 2022
£
—
867
867

11 Creditors: amounts falling due within one year

Other creditors
Accruals		 2023
£
20,977
14,175
35,152		 2022
£
—
11,966
11,966

Out to Swim 19

Notes to the accounts Year to 31 December 2023

12 Analysis of net assets between funds

Net current assets
Net assets at 31 December 2023		 General
unrestricted
£
46,310
46,310		 Designated
£
—
—		 Restricted
£
9,257
9,257		 Total
funds
£
55,567
55,567

13 Movements in funds

Restricted funds:
Graham Pearlman Fund
BAME Participation Fund
Peppe Orru Fund
Total restricted funds
Unrestricted funds:
Designated funds
-Scholarship fund
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1
January
2023
£
7,107
988
1,500
9,595
2,200
2,200
41,706
43,906
53,501		 Income
& gains
£
—
300
—
300
500
500
247,722
248,222
248,522		 Expenditure&
losses
£
(279)
(360)
—
(639)
(2,700)
(2,700)
(243,117)
(245,817)
(246,456)		 Transfers
£
—
—
—
—
—
—
—
—
—		 At 31
December
2023
£
6,828
928
1,500
9,256
—
—
46,311
46,311
55,567

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.

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.

The Pepe Orru Fund was set-up from member donations to support coaching training.

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 20