Ivia Borough of Waltham Forest Swimming Club Trustees, Annual Report and Unaudited Financial Statements For Year Ended 31 December 2022 Registered Charity 1185492
Borough of Waltham Forest Swlmming Club (BWFSC Gators) Registered Charlty 1185492 Trustees Annual Report & Financlal Ststements For Year Ended 31 December 2022 Trustees, Annual Report Independent Examin8rfs Report to the Tnjstees Statement of Financial Activities Page3-7 Page 8 Page 9 Statement of Financi81 Posttion Page 10 Notes to the Financial Statements Page 11-15
Borough of Waltham Forest Swlmming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2022 The trustees present their report and the unaudit8d financial staternents of the charity for the year ended 31 December 2022 REFERENCE AND ADMINISTRATIVE DETAILS R•gistored Charlty Nam• Borough of Waltham Forest Swimming Club 1185492 R•gistsr•d Charity NuMr Princlpal offi¢• 59 Wellington Road, London, E112AS Trust$ Chaiman Darren Ashcroft Secretary Margaret Tanner Treasurer Kamila Zapala Coaching T•am Head Coach Harfey Hicks Independent Examinor Agnieszka wlrkovka 23 Southwell Grove Road London E114PP
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Flnancial Ststements For Year Ended 31 December 2022 We had our hyhest county qualffieis tal in over 5 years with mU.ple swimmers winning gokj, silverand bronze rnedals. Similar accolades were collected at Regional level. One of our swimmers made the National Final and finished 7th in England for 50 Freestyle whilst another won double silver medals at BrFtish t. Championships in 50 & 100m breaststroke. Gators swimmers were abo very strong on making Open Water Nationals. The charity continued to support parent volunteers in achieving qualifications, allowing them to contribute to the charitable aims over th8 next few years. In addrtion to that sm of our mernbers completed Swim England Level 1 coaching qualffication as we continue supporting our members with all pathways from leam to swim through competitive to masters and coath training. RESERVES POLICY Borough of Waltham Forest Swimming Club is a charitable organisation. Membership fees for Training Squads and Leam To Swim (LTS) are io be set at an overall level that covers the club's expendrture, allowing for growth and cosl increases where appropriate. Unfortunatsly, with reduced membership and time it took to bring it up to post Covid levels as well as looking at affordabilty and market comparisons we were not able to do that in 2022. It's unlikety with cost-of-INing increases this will be possible in the future. so the Executive team agreed to that we need at Lqast 3 galas each year as well as fee income to cover the club's running costs and that has been included in the future planning. The Reserves Policy is to maintain sUffiCnt level of reserves to enable normal operating activities to continue should a shortfall in income occur and to take account of potential risks and contingencies that may arise from time to time. As BWFSC has no ongoing overheads because pools are hired as required. Trustees have agreed to aim to build a reserve to cover freelance coaches. fees for one month £6.3k and one month of pool hire £6 .3k reserves of £12.6k required in the future which is double what we were planning previously. This has been a challenge during 2022 mainly due to post Covid financial instabilty and whilst this remains our polry we acknowledge we need a get back to green plan to be executed during the next couple of years. We focus on a &step plan to recovery and to build out the reserves in the future years: 1. Build membership back up to at least 240-280 members 2. Start running club champs and club galas (213 x home galas and 2 x club champs) 3. Look for fundraisiro opportunities and sponsorship The policy will be reviewed annually by the Committee
Borough of Waltham Forest Swimmlng Club (BWFSC Gators) Registered Charlty 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2022 PUBLIC BENEFIT The trustees have complied with their duty to have due regard to the Charty Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. SUMMARY As a final note, we would like lo thank all our coaches, members, parents of our swimmers, all other members as well as club's friends for their continued support of our activities. We also wanted to thank many local businesses that put forward prizes for our raffies. There are many people to thank for the support they have given over the years. Thank you to you all for your interest, support, and commitment to BWFSC Gators now and in the future The Trustees Annual Report was approved and signed on behalf of the board of trustees by: Margaret Tanner Secretary Kamila Zapala Treasurer
Borough of Waltham Fore8t Swlmmlng Club (BWFSC Gators) Reglstered Charlty 1185492 Trustees Annual Report & Flnanclal Statements For Year Ended 31 December 2022 FINANCIAL STATEMENTS- INDEPENDENT EXAMINER'S OPINION I report to the Trustees on my examination of the accounts of Borough of Waltham Forest Swimrning Club (BIVFSC Gators) for the year ending 31 December 2022. As Trustees of the Charity, you are responsible for the preparation of the accounts in accordance with The Charities Act 2011.1 report in respect of my examination of the Charty's accounts Carried under section 145 of the 2011 Charities Act and in carrying out my examlnation I have followed the applicable Directions given by the Charity Commission under section 145(5)b of the 2011 Charities Act. I have completed my examination and no material matters have come to my attention in connection with the examination and therefore I can confim that 8) Accounting records were kept in respect of the Charty as required by section 130 of the Charities Act 2011 b) The financial statements were prepared in agreement W5th the accounting records c) The financial statements comply with the applicable requirements concerning the fonn and content of the accounts as set out in the Charities (Accounts and Reports) Regulations 2009 and give a 'true and fair view, of the financial perfomiance for the period Agnieszka Wirkowska Agnieszka Wirkowska 23 Southwell Grove Road London E114PP
Borough of Waltham Forest Swlmming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financlal Ststements For Year Ended 31 December 2022 STATEMENT OF FINANCIAL POSITION Accounts Year End 31st December 2022 Unrestrictsd R•stricted Total funds Total ndS fund• Income fund• 2022 2021 Noles Flx?d 4ss•ts Tar¥Je assets Current assets Debt Cash at and h) hand 8,558 8.558 5,4e3 CredltcKs'. •mryJnls falh7 vhthkn o year Net curient a*setsl(liablWe81 15.746 15.748 8,148 Totsl a•gets les• curr•nt Il•bll•tSe•
Borough of Waltham Forest Swlmmlng Club (BWFSC Gators) Reglstered Charlty 1185492 Trustee8 Annual Report & Flnanclal Statements For Year Ended 31 December 2022 STATEMENT OF FINANCIAL ACTIVITY Accounts Year End 318t December 2022 Unr••trl¢t•d R••trlct•d TotAI fvnd• Totsl fund• nd• Incom• fund• 2022 2021 Not•• Incomln9 r•¥our¢•• Don•iioni and l•g¢l•$ Chlrllabh a¢ttvN•• ¢)Ih•r Trndlng ktl¥ll•• 201 179,812 201 179,812 120.196 R•n9 funds 189.610 189.610 141,526 229 oth•r Tol•l N•t mov•ffl•nt In for th• y••T 9.698 9.598 14.693 To141 fund• •t 1•t J•nu&ry 2021 Totsl fvndi al 311 OK•Ml 2021 6,148 15.745 The financlal statements were approved by Trustees and signed on their behalf by Margaret Tanner Secretsry Kamila Zapala Treasurer 10
Borough of Waltham Forest Swlmmlng Club (BWFSC Gators) Reglstered Charlty 1185492 Trustees Annual Report & Flnanclal Ststements For Year Ended 31 December 2022 NOTES TO THE ACCOUNTS The hthy be•n in KcordwK¢ iih Accixrting WKI R•rthlw ty ChYAies: Stalèmert kndd aNthcat4• li ikuted l(llyJom Ireld {Chwitie$ SORP FRS 102) i9gued 16 2014. the F181 Rètthtry aFal4• fft thè UK Rèwtk d Ireld IFRS 102) WKI the Ch@S Act 2011. Thè statemerts beèn P¥•d the histlear cost coThwrtion. Tho ffin¥ Flnfjn¢lal ¥tsndard 102 . weduc•d dhclowr• exem The chwty has tsken th¥rtage (Ithg f04tr th5clos •xemOion in these statom8rts. as that exlwth. * is woble that a trnnsfef d •cononwc left5 be rewwèd in settkmert the amount rfth• th al cost rdaed Ip thé c8lw. cosls b8 (fjrectly atsilxrt lo p•ti¢ul8r h•athngg they been abxaled to actratieg on a ba.5 CsIStnI th• us• d r•s(uces. T•nolblo Ilxed •Mots crtY ¢thYerrtty no as$8ts bA if such existed dgwe¢iion y)uld for at apWOl 5 rydor to TAite (Y exh ass8t ovx ts eslimod u$oAd th. FhN¢S and frtlyfjs. on a linè basi$. Umestiicted fiJvJ$ cw be used in xcthe chailable otyethys at the thscretion (rfth• ITUStees. Restixted knds used fix Tr$Ited rAwpses the objecis ofthe chwly. RestrictKth wise spcw ty the OYNV ¢y then fijnds • rnised for testsicted wqhises. Tmstees Con¥1 to up to the •ent least £12.6k in rnser+• to 5aew&d ag*nst thjture changes incomè. Y¥hlst this wag nrll FSItIe to li 2022. 85 thwity Yds Stll rec(prning from thè impxts ol Cthid19. ttrms 11
B(Wh of Waltham Forest SmmIng Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial StateMts For Year Ended 31 December 2022 T•lal 11 15.937 1&937 1&399 121.358 121. 8T.1 14,712 14,712 6,412 &412 &315 12
Borough of Waltham Forest Swlmmlng Club (BWFSC Gator6) Reglstered Charlty 1185492 Tru8tee8 Annual Report & Flnanclal Ststements For Year Ended 31 December 2022 .4C4 BOR UGVI OF I'ML THMNI FQRF.SY SI Ip,11,1Jffj CLUB Unr•strkt•d R•strl¢t•d Tgtl funds Tolal fimds fvn Tatsl •Iliu on rthlng fvnds 75.116 75.885 6,7(MJ 13,645 9,7¥2 75.116 75.685 6,7ry) 13,645 9,7V2 51,114 8,674 7.675 4078 078 164 1r2 Bal detrt wrie dl 109 610 189610 13
Borough of Waltham Forest Swlmmlng Club (BWFSC Gators) Reglstered Charlty 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2022 11¢54qI BOgC.UGH OF 11 L THMfbl FnREST SkNINIMII4G CLUB 2022 2022 Tanglbl• Ass•ts Totsl 6558 T¢Aal AAunts falllng du• *lthln 2022 TTad• cr•dlior5 Bad D•bt Provlslon Accruals and d•l•rr•d Incoffl• Totsl 18.059 • Cash •tth• bank •nd In h•nd 2022 20 Talal 11364 14
Borough of Waltham Forest Swimmlng Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2022 p¢ I,012 11&745) 15