qlVI a Borough of Waltham Forest Swimming Club Trustees, Annual Report and Unaudited Financial Statements For Year Ended 31 December 2023 Registered Charity 1185492
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustses Annual Report & Financial Ststements For Year Ended 31 December 2023 Trustees. Annual Report Page3-7 Independent Examinerfs Report to the Trustees Page 8 Statement of Financial Activities Page 9 Statement of Financial Posrtion Page 10 Notes to the Financial Ststements Page 11-15
Borough ofwaltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAILS R•g18t•r•d Charlty Nam• Borough of Waltham Forest Swimming Club R•gl8t•r•d Charlty Numb•r 1185492 Prlnclpal offlc• 59 Wellington Road, London, E112AS Trust••s Chaimian Darren Ashcroft Secretary Margaret Tanner Treasurer Kamila Zapala Coaohlng T•am Head Coach Harley Hicks Ind•p•nd•nt Effi1n•r Agnieszka Wirkowska 23 Southwell Grove Road London E114PP
Borough ofwaltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2023 CHARITY OVERVIEW AND OBJECTIVES The Borough of Wattham Forest Swimming Club (BWFSC Gators) was formed in 1986 through a joint initiative of the Borough Swimming Clubs and the local Borough Council. The amalgamation led to a period of growth and measured success with locally produced athletes that would have a significanl importance on County, Regional and National levels as well as some international successes. Today we're a diverse and inclusive swimming club with a purpose to promote swimming skills in the local communities of North East London and South West Essex. We are no longer financially or otherwise supported by the Borough of Waltham Forest which put a considerable strain on club's finances particularly during the Covid years and post Covid recovery. BWFSC Gators has enjoyed many years of producing quality athletes as well as competitive youngsters at all levels of competition and has been awarded Swim21 Accreditation at Competitive Level since 2009. BWFSC Gators has adopted the National Plan for Teaching Swimming as the core prograrnme throughout which young children learn to swim and develop a love of the sport. The club continues to attract children at the earliest age to undergo the basic skills of water safety, swimming techniques and further on to competitive levels of the sport. The specific programmes within th6 club allow for swimmers at these levels to compete as a team or as individuals for swimming events leading up to County, Regional and National as well as occasionally at International Level. BWFSC Gators is committed to treat everyone equally within the context of its activity. This shall be, for example, regardless of sex, ethnic origin, religion, disability, or political persuasion, on any grounds and we implement the ASA Equal Opportunities policy. BWFSC Gators swimming club plays a huge role in ensuring our community's wellbeing. Through active engagement in sports and belonging into a supportive community Yrfe help improve our members physical and menlal wellbeing. STRUCTURE, GOVERNANCE AND MANAGEMENT In September 2019 BWFSC Gators was formed as a charitable incorporated organisation registered with Charity Commission and govemed by its constitution, also known as club's rules. The constitution sets out the club's objects as teaching, development, and practice of swimming for its members. The club continued in this form throughout 2023. The trustees and the committee members are elected by ballot at the Annual General Meeting each year. The Committee as set out in the constitution consists of the Chairman. Secretary and Treasurer {together 'lhe Executive Officers of the Club"). The club also has a Welfare Officer. There were no new appointments during 2023. However. the Chairman has expre&sed the d8sire to step down and therefore
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Flnancial Ststements For Year Ended 31 December 2023 th6 club has started looking for a new chairman. Any vacancy occurring by resignation or otherwise is filled by the Committee. 2023 continued to be challenging as engagement from community and volunteers continues to be limited to a few performing substantial roles within club's operations. We pride ourselves in continuing to create paths for our swimmers with many continuing to take on active roles as coaches, lifeguards or volunteers within our club. ACHIEVEMENTS AND PERFORMANCE BWFSC Gators continued to rneet rts charitsble objective In providing opportunities for children to lake part in swimming activities for purposes of both fitness and competitive swimming. Most of the year we operate at capacity across the squads as families embrace group activities, bringing our memberships up. The club operates 43 swimming sessions a vRek and 53 hours of training from learn to swim to masters across 4 locations.. Sylvestrian Leisure Centre, London Aquatic Centre, Chingford Leisure Centre and Waltham Forest Feel Good Centr&. We also do land training for our aspiring performance squads in London Aquatics Centre. We are currently at a 5 year membership high wilh 261 active members on the book8. That's a 12-month programme increase of over 35Yo and in Learn To Swim ('LTS") specifically we grew this year thanks to our structural changes that allowed an extra 30-rninuta slot for LTS on a Monday night. Our 'in the pool" success has meant we have been able to attract a sponsor this year in Scuturn Group. Scutum are supporting our Performance element of the club and wish to even the playing field when it comes to opportunities given to high performing and committed swimmers at a smaller local club like ours. This has meant our swimmers are benefiting from subsidised swim camps, including our Saturday training programme which has given our fastest 23 swimmers access to an extra 24 hours of training throughout the winter season. We have also begun to build a closer Partnership with Forest School who have invited some of our senior swimmers to train with the schools Perfonnance Programme. Over the period, our learn to swim section continued to develop and progress into the main club to start their competitive training programmes. Swimmers in the training groups developed their competitive skills in many swimming competitions from local leagues to County and National championships wrth success for many individuals not only in perfomiance achievements but in personal development. The charity's swimmers managed to achieve some exceptional results during 2023.. 42 County QUaIrfr8 16 Regional Qualifiers 7 National Qualffiers 1 Brits'sh Championships Qualifier
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financlal Ststements For Year Ended 31 December 2023 We maintained high county qualifiers tally with multiple swimmers winning medals. Similar accolades were collected at Regional level. We have run three Level 3 Home Galas this year as well as two Level 4 club champs. These events continue to be a successful and highly profrtable undertaking. Level 4 events give our young swimmers ability to test themselves in a competitive yet familiar environment. Level 3 events significantly helped to offset the pool hire expenditure increases towards the end of 2023 with a full impact anticipated during 2024. An ongoing area of concem is our ability to host future galas due to the volunteers and personnel required to run a licenced meet. We would like more parents to volunteer in this area, we need officials and a club referee. Considering we froze membership prices during last few years we will now need to look at that again as we approach 2024 to ensure we build stable operations for the upcoming 2 to 3 years. The charity continued to support parent volunteets in achieving qualifications, allowing them to contribute to the charitable aims over the next few years. In addition to that some of our members completed Swim England Level 1 coaching qualification as we continue 8UPPOrting our members with all pathway8 from leam to swim through competitive to masters and coach training. RESERVES POLICY Borough of Waltharn Forest Swimming Club is a charitable organisation. Membership fees for Training Squads and Learn to Swim (LTS) are to going to be set at an overall level that covers the club's material expenditure. Executive team has agreed to that we need to increase our fees from 2024 onwards and run at least 2 galas each year alongsid8 SU5tsinable fee income to cover the club's full running costs and build a reseNe. This has been included in our forecasts. The Reserves Policy is to maintsin sufficient level of reseNes to enable normal operating activities to continue 8hould 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 reseple to cover freelance coaches, fees for one month £6.5k and one month of pool hire £7.2k reserves of £13.7k required to ba build over the next 2 years. Trustees acknowledge reserves should ideally be 3 months and will have to incorporate this into the planning over the next 2 years. We had a good year in 2023 and all we need is to repeat it again in 2024 by-. 1. Building membership back up to 260-280 members 2. Run 213 club home galas 3. Look for fundraising opportunities and sponsorships The policy will be reviewed annually by the Committee
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2023 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 Ihe guidanca is relevant. SUMMARY As a final note, we would like to 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 raffles. 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 Forest Swimming Club {BWFSC Gators) Registered Charlty 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2023 FINANCIAL STATEMENTS- INDEPENDENT EXAMINER'S OPINION I report to the Trustees on my examination of the accounts of Borough of Waltham Forest Swimming Club (BWFSC Gators) for the year ending 31 Dernber 2023. 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 Charrty's accounts carried under section 145 of the 2011 Charities Act and in carrying out my examination I have followed the applicable Directions given by the Charty Commission under section 145(5)b of the 2011 Charrties Act. I have completed my examination arKI no material matters have come to my attention in connection with the examination and therefore I can confirm that a) Accounting records vrfere kept in r88pect of the Charity as required by section 130 of the Charrties Act 2011 b) The financial statements were prepared in agreement with the accounting records c) The financial statements comply with the applicable requirements concerning the form 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 performance for the period Agnieszka Wirkowska Agnieszka wlrkovka 23 Southwell Grove Road London E114PP
Borough of Waltham Forest Swimming Club (BWFSC Gators) Reglstered Charity 1185492 Trustees Annual Report & Flnanclal Statements For Year Ended 31 December 2023 STATEMENT OF FINANCIAL POSITION Accounts Year End 31st December 2023 Unt••lrtot•d R•trtot•d Totsllunth Total fund• Inoom• fvndj 2023 2022 Notes PLY•d ••W• TarvJible a5601$ CuN•nt 8•11 D8btors C•8h al bard( •rKI In hr 2.708 8,55B 21 $67 152 Cfe(41ors'. 4mount8 18WrvJ dua vthn on year M•t awv•nt #I••1bI1•8l 432 2,152 15,748 Totsl a•ty kn• ¢urr•nt IlAblll AUMt*d fund R88trfcted income furyl$ UNeslrl¢t fuThl8 15,746 15.748 9,598 Resu for the p•rfod 432 Tha Th)tos forn part of th• 8CCOUrts
Borough of Waltham Forest Swimming Club {BWFSC Gators) Registsred Charity 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2023 STATEMENT OF FINANCIAL ACTIVITY Accounts Year End 31st December 2023 Unr•strk4t•d R•slrf¢t•d Total funds Tatal fvnds funds knoom• fund$ 2023 Notes Dorkgtlor6 aTrJ gaCleS Charitsbl8 actlvitles Otsr Tradiro Aclwites 1,426 244,126 15,000 18,428 244.128 201 179,812 280 552 180013 R•sourn•s •xp•nd•d RalslrvJ fuThds Ctsritablg actlvitles Olh8r rot 229,258 115 229 374 12,845 242,103 118 242 222 189,610 189610 N•t mov•M•nl In lunds f•r th• y•ar 16,178 2,152 18,330 9,598 Tot81 I$ at 1st JaN8ry 2023 Tot81 fuThYs at 31st December 2023 433 Th8 mtes fomi part of the accounts The financial statements were approved by Trustees and signed on their behalf by Margaret Tanner Secretary Kamila Zapala Treasurer 10
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financlal Ststements For Year Ended 31 December 2023 NOTES TO THE ACCOUNTS 1186492 BOROUGH OF WALTHAM FOREST SWIMMING CLU Not• l Aooountlng PollBkns Ba•1• of th• flnan¢lal t4t•m•nts The ffinandal 8ts1emenls have been prepared In &cordance vAth Accounllng and Reporting by Charltle8". Statement of Recommended Practl¢e applicable lo charities preparlng Ihefir accounts In acrdanCe 1th lh8 Financlal Reportlna Sland8rd applicable In the Unrted Kingdom andRepubllc of Ireland (Charities SORP FRS 102) issued on 16 July 2014, the Financlal Reportlng Stsndard applicable in the UK and Republic of Ifdand IFRS 1021 and the Charille¥ A¢t 2011. The financlal 81atements have been prepared under the hist1 ¢ogl convention. Tho flnancLql Slalements are prepared in sterling. thIch 18 the fvnctlonal currency olthe company. Monetary amoun18 In these flnanclal Btatements are rounded lo thè nearest £. Flnnol•l r•portlnq #tsndl 102 - r•duo•d d1•olUTr •x•mptloM The chaty ha8 taken advantag8 of the IdIn9 dl&dosure 8MplOn In prgparing these financial $lalemen16, as permltted by FRS 102 'The Finanoial Reports'ng Standard appluble In the UK and Republlc of Ireland,:. the requlremenls of Seclth 7 Statement of Cash Flows. Inoom• (Not• 21 Al income is recognl8ed In the Statement of Flnanclal ActtIeS one8 the charlty ha8 enlrtlement to the fund8, tt18 probable that the Income w111 be recelved and the amount can bè me88urÈd rdlably. Exp•ndlr• (Nol• 31 Llabilitie8 are recognised a8 expendllure as 800n as there Is a legal cf constructe obllgatlon commltllng the chadty to that expendrture, K Is probable that a transler of economlc benefbts IMII be requlred in 88ttlemenl and the 8mount of the obligallon can be maasured rellably. E>pendfture18 8c¢ounted for on an acorual8 bag1$ and hgs been c1&88Med under headlngs that aggregate all c08t related to the category. Where cost8 cannot be direclly attrlbuted lo particular heading8 they have been allocated lo aclplts.es on a basis consistent with the use ol re80urce8. Tanolbl• flx•d a•••ts Charity currently own8 no a88ets bul if Buch ested deproGlatbn V•vuld be provlded lor at an approprlale annual ratge In order to WTite off each asset over Ils eBtimalèd useful life. Flxtures and frttlng8 Includlng equiptmenl al 20% on a Blraighl lin6 bas18. T•xqtlon The charlty18 exanpt from corpakn tax on Its charftable actlvlttè8. Fund ac¢ountlno Unre81ricted fund8 can be used In accordance Yilh the Charitable Object88 at the dlscretion of the trustees. Re8trkled fund$ can only be used for partlcular restricted purposes wthin the oblecls of the charfty. Re8ldctlon8 arfse when Spfied by the donor or vknen fund8 are ralsed for particular re81rkled purpo$e8. R•8•piM Poll¢y Trugle88 commit lo bulldlng up to the equivalent ol at lea81 £15k in reserve to safelluard agaln8t future eh*ges in ino)me and expenditure. Charlty ha8 made geod progre$$ towards Ihls goal durino 2023 and aims to achleve tt or come close lo r( during 2024. 11
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charlty 1185492 Trustees Annual Report & Financial Statements For Year Ended 31 December 2023 Not• 2 Inoom• An•trJls ol Inoam• fundg knoom• funds 2023 2022 Domtions arnl gift8 •nd l•qaol•s: Grant8 1,426 1,426 201 15000 Totsl 201 Member8Np F Jolnirg Fees Tralniro Sesslons Boolcamp8 GaLqs Home Ga Club Ch&mp8 Kit SP Di8CO Interest rècalved 16,606 5,700 136,325 16,6C6 5,7C() 136,325 15.937 Chartab 121,358 11,501 65,288 11,501 65,288 4,9C() 1,79) 1.858 161 14,712 14,785 5,412 1,338 2,367 1.790 1,858 181 244,126 Totsl 179 812 Totsl Inoom• 245 552 260 552 180012 R•slrlot•d Fund of £15k r•presents the Scutum Group grant for perfomiance element of the club and wlsh lo even the playlng field when It comes to opportunltl88 glven to high p8rformlng and commltted $wlmmer8 at 8 smaller club like our8. 12
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2023 Not• 3 Exp•ndllur• Unr•strlot•d R•$lrlat•d lunds Inoom• funds 2023 2022 Exp•Trdr• rn18kng lunds: SLmdry c06ts T•l•l •xp•ndur• an rAIBlnq fund Exp•ndur• •n •h•rtalJl• aathiitl•s: Pool trdte 86,222 75,267 86,222 75,287 9,548 10,427 31,643 11.8C 934 75,116 75,685 6,700 13,645 9,792 Coaches ASA Member8Np Gala Costs 10.427 31,643 Home Gab Co8ts Bootcany C08tB EqLipment TralnlrvJ Kil Shop Paymert proce881ng fee8 Webstte 11,800 41 893 1.770 2,382 6,683 1,082 25 2,382 6,683 1,082 5,078 164 T•tsl •xp•ndlbJr• on oharkal>l• aothMI•8 229 258 242 103 189610 Oth•r Ba ohgTges Bad debt wrfte off Accowrtaroy TolAI oth•r •xp•ndltur• 115 118 115 118 Totsl Exp•nd1r• 189610 13
Borough of Waltham Forest Swlmming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financlal Statements For Year Ended 31 December 2023 Not• 4 Ind•p•nd•nt Examln•rs F••s 2023 2022 Ind•p•nd•nt •xarnln•r's f••s T¢)tal Not• 6 T*nglbl• Ass•ts 2023 2022 Tanglbl• A88•ty Total Ilot• 8 D•btorg and Pf•pwn•nts 2023 2022 Trad• d•blors Pr•p4ym•nts and a¢¢N•d In¢om• Tolal 6,658 Not• 7 Crndlkord and d•f•rr•d In¢om Amounts lallng du• wlthln on• y•ar 2022 2023 Trad• ¢r•dltorn Bad D•bt Provlslon A¢¢ruals and d•f•rr•d In¢om• Totsl Not• O C•sh at th• bank and kn hand 2023 2022 Cash al bAnk Ind on hand 12,364 12,364 TotAI 14
Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity 1185492 Trustees Annual Report & Financial Ststements For Year Ended 31 December 2023 Not• • Pund5 movem•ntln ounvnt Fund b•L•no•s Fund l)thno TrnMf•rn G•Mral FWKI 115,7451 245,552 1229,3741 433 R•61rict8d Rtcl•d Fur T•tsl Funds • p•r l•no• •h••t 15,CQO 280.662 2,585 N•1• 10 R•ht•d pirt * r•Lthd p•ty trpAoctkrn too pla Irll r to 31 Dec•rthr 20rJ. altlw trt0•1 bn p•kl •ry r•c•hd otr fr¢m tto or a rOt*1 drg 2023. 15