Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 **Borough of Waltham Forest Swimming Club** **Trustees Annual Report and Unaudited Financial Statements For Year Ended 31 December 2024** **Registered Charity Number: 1185492** Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **Contents** Trustees Annual Report Page 3 - 7 Independent Examiner’s Report to the Trustees Page 8 Statement of Financial Activities Page 9 Statement of Financial Position Page 10 Notes to the Financial Statements Page 11-15 2 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Charity Name** Borough of Waltham Forest Swimming Club **Registered Charity Number** 1185492 **Principal office** 59 Wellington Road, London, E11 2AS **Trustees** Chair Anna Kasparian (appointed 6 April 2025) Gary Lewis (appointed 21 January 2024, resigned 9 March 2025) Darren Ashcroft (resigned 21 January 2024) Secretary Louisa Elizabeth Voss (appointed 6 April 2025) Margaret Tanner (resigned 6 April 2025) Treasurer Kamila Zapala **Head Coach** Harley Hicks Terri Harris **Independent Examiner** 112 Chestnut Avenue South London E17 9EL 3 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **CHARITY OVERVIEW AND OBJECTIVES** The Borough of Waltham 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 significant importance on County, Regional and National levels as well as some international successes. We are 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 Swim 21 Accreditation at Competitive Level since 2009. BWFSC Gators has adopted the National Plan for Teaching Swimming as the core programme 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 the 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 plays a huge role in ensuring the community’s wellbeing. Through active engagement in sports and being part of a supportive community we help improve our members physical and mental wellbeing. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** In September 2019 BWFSC Gators was formed as a charitable incorporated organisation registered with the Charity Commission and governed by its constitution, also known as the 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 2024. 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 Chair, Secretary and Treasurer (together “the Executive Officers of the Club”). The club also has a Welfare Officer. During the financial year, Gary Lewis was appointed Chair and Darren Ashcroft resigned as Chair at the charity’s Special General Meeting (SGM) held on 21 January 2024. Subsequent to the end of the financial year, Gary Lewis resigned from office at the AGM held on 9 March 2025 and Margaret Tanner resigned as 4 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** Secretary at the SGM held on 6 April 2025. Anna Kasparian was elected as Chair and Louisa Voss was elected as Secretary at the SGM held on 6 April 2025. 2024 remained challenging as engagement from the community and volunteers continued to be limited to a few performing substantial roles within the 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 the club. ## **ACHIEVEMENTS AND PERFORMANCE** BWFSC Gators continued to meet its charitable objective in providing opportunities for children to take 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, increasing our membership. The club operates 43 swimming sessions a week and 53 hours of training from learn to swim to masters across 4 locations: Sylvestrian Leisure Centre, London Aquatic Centre, Chingford Leisure Centre, Chigwell and Waltham Forest Feel Good Centre. We also provide land training for our aspiring performance squads at the London Aquatics Centre. We are currently at a 5-year membership high with 261 active members on the books. That’s a 12-month programme increase of over 35%. Learn To Swim (“LTS”) grew during the year following structural changes that allowed an extra 30-minute slot for LTS each week. 2024 was a groundbreaking year for Gators’ Performance Programme. 38 swimmers competed at Essex Championships, making 69 finals, including a silver for our Senior Girls relay team as well as 6 golds, 5 silvers and 10 bronzes through the individual events. We then went on to have a fantastic Regionals and a very busy National Window. 20 swimmers competed at Regional level, with Ada Yeow being crowned London Champion in the 50 Backstroke and Noah Willer taking bronze in the 50 Breaststroke. No less than nine swimmers qualified for Nationals, Open Water Nationals and National Masters, with Thomas Chittock and Amir Zahouani making National finals. Armandas Mavropulo also made the 50 Backstroke final at the Dubai Open, racing against International swimmers in the process. 2024 was Gators’ most successful year in the pool for almost a decade. ## **National Qualifiers:** Thomas Chittock, Amir Zahouani, Noah Willer & Ada Yeow. ## **Open Water National Qualifiers:** Ava Allison, Luke Pemberton & Ella Pemberton ## **Colombian International Team Selection:** Nicholas Tarquino 5 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **British Championships Qualifier:** Thomas Chittock ## **Masters National Qualifier:** Anna Kasparian We were lucky enough to receive tickets and accommodation from our club sponsor to attend the Paris Olympics, with six of our most dedicated and successful swimmers picked to watch Adam Peaty live at Paris 2024. This was an experience of a lifetime and very motivating for those who went. 2024 ended with a bang as we attended the Newham County Qualifier, with every single swimmer in attendance making a significant personal best time. On the same weekend, Amir Zahouani and Thomas Chittock were back in Sheffield at Winter Nationals also performing lifetime bests. We ran two Level 3 Home Galas during the year. These events continue to be a successful and highly profitable undertaking. We were unable to run Level 4 licensed meets in 2024 due to shortages of qualified volunteers to obtain the licence. However, we continued with the time trials as unlicensed events to provide opportunity to younger swimmers to test themselves in a familiar setting. An ongoing area of concern 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 more officials, a J2 and a club referee. The charity continued to support parent volunteers in achieving qualifications, allowing them to contribute to the charitable aims over the next few years as we continue supporting our members with all pathways from learn to swim through competitive to masters and coach training. ## **RESERVES POLICY** BWFSC Gators is a charitable organisation. Membership fees for Training Squads and Learn to Swim (LTS) are set at an overall level that covers the club’s material expenditure. The Trustees agreed a need to increase fees from 2024 onwards and run at least 2 galas each year alongside sustainable fee income to cover the club’s full running costs and build a reserve. This has been included in our forecasts. The Reserves Policy is to maintain sufficient 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, the Trustees have agreed to aim to build a reserve to cover freelance coaches’ fees for one month (£6.5k) and one month of pool hire (£7.2k); reserves of c. £15k are required. The 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 2024, but we acknowledge cost of living increases meant coaches pay required review and pool hire is expected to increase further in 2025. We are committed to maintaining our fees at the current level during 2025, which may impact 6 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** our ability to build reserves. We are committed to looking for sponsors and fundraising opportunities to build reserves over the next 3-5 years. This policy will be reviewed annually by the Committee. ## **PUBLIC BENEFIT** The Trustees have complied with their duty to have due regard to the Charity 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 to thank all our coaches, members, parents of our swimmers and all other stakeholders for their continued support of our activities. We also express thanks to the many local businesses that have provided prizes for our raffles. Thank you to you all for your interest, support, and commitment to BWFSC Gators now and we look forward to your continued support in the future. The Trustees Annual Report was approved and signed on behalf of the board of trustees by: _____________________ _____________________ Anna Kasparian Chair Louisa Voss Secretary 7 September 2025 7 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **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 ended 31 December 2024. As the Charity’s trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Charities Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)b of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011; or - the accounts did not comply with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of the accounts as set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ view which is not a matter considered as part of independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ________________________ ## Terri Harris 7 September 2025 Terri Harris, MAAT 112 Chestnut Avenue South London E17 9EL 8 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **STATEMENT OF FINANCIAL POSITION** ## **As at 31st December 2024** 9 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** ## **STATEMENT OF FINANCIAL ACTIVITY For the Year End 31st December 2024** The financial statements were approved by Trustees and signed on their behalf by ________________________ Anna Kasparian Chair _____________________ Kamila Zapala Treasurer 7 September 2025 10 Docusign EnvelopÈ ID". CE44295E-889&4A4A-B589-44A1F9ACFC14 Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024 NOTES TO THE ACCOUNTS 1185492 BOROUGH OF WAL THAM FOREST SWIMMING CLUB Note l Attounling Politits 8a$is ol prèparing the financial $iatement$ The finanoal slalemenls have t)een Prepared Sn accordance ￿th Accounts"no and Reportlng by Chariles.. Statement ol Recommended Pfadice applicable to charities pfeparing their accounts in accordance the Financial Reporting Standard applicable in Ihe United Trth'ngdom andRepublic of Ireland (char￿.eS SORP FRS 1021 issued on 16 July 2014. Ihe Financaal Reporb"ng Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and Ihg Charibes A(12011. The finanoal slalements have been prepared underthe hisloncal cost Convenbon. The finanoal slalemenls are prepared in slerfino. which is Ihe funthonal uJrrenLy olthe company. Monetsry amounts in these fin3naal slalemenls are rounded lo the nearest £. Financjal ￿pOrting $tant1ard 102- ￿0v¢ea discbSU￿ exemptions The chaiity has taken athanlaoe of the following disdosure exemption in preparing IhÈse financi81 stslements. as permrtted by FRS 102 The Financial Reporting Standafd applicable in the UK and Republic of Ireland".- the requirements of SeL*on 7 Slatement ofcash Flows. Note 2 Income l income is r•cognised in the Statement of Financial AdM"ti•s once Ihe thanty has entiU8m•nt lo the fjjnds, tt is wobable Ihatlhe income wll be recetve¢J and Ihe amount can be measuied reliably. Note 3 Expendiluie LJ"abilibes are recoonised as expendrture as soon as there Is a legal or conslruclNe oblig*"on commith.ng Ihe chantylo Ihal expendrture. rt is probable that a transler of economic beneffts will be required in setuemenl and the amount of the obligabon can t)e measured reliat•ly. Expendrture is accounted for on an accruals basis and has been dassified under headings Ihat aggregate all cost related to the category. Where costs cannot be diredy attn'buted lo parb'cular headings Ihey have been allocated lo aLtrb"es on a basis consislent wlh the use of resources. Note 4-9 dependent examiners fees Independent examinabon has been conducled on pro bono basis lor 2024. Tanolble Ilxed assets Charity currenvy owns no assets but rf such e￿$ted rtepreuatlon would be Pro￿ded for at an appropriate annual rates In Ofder lo write off eaeh asset over its esbmaled useful life. Fixlures and fitbngs induding equiptmenl at 20% on a straight line t•asis. Taxation The chanty Is exemplfrom corporation lax on its charitsble ath"ties. Fund accounts.ng Unrestricted lunds tan be used In accordance the charitable obiÈclAies al Ihe thsuetion ollhÈ trustees. Resln'ded funds can only be used lor partjojlar restricted purposes wlhin the otsjects olthe charity. Restn"c*'ons arise when speafie¢J by the syonor Of when lunds are raised fof patt"cular iesln.cled purposes. Examples olsuch Indude Jack Petcheyfijnding and Scutum sponsorship. Rese￿eS Policy Trustees commilto building up lo the equNalenl of al least £15k in feseNe to saleguard 3gainslluture changes In income and expendilure. Twstees also committo remewng the ieser¥e policy at least annually. 11 Docusign Envelope ID: CE44295E-8898-4A4A-B589-44A1F9ACFC14 ## **Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024** **Restricted Fund** of £10k represents the Scutum Group grant for 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. The remaining amount relates to Jack Petchey grant. 12 Docusign EnvelopÈ ID". CE44295E-889&4A4A-B589-44A1F9ACFC14 Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024 1185492 BOROUGH OF WALThAM FOREST SWIMMING CLUB Nots 3 exp•nditur• Unrestricted Restricted fvnds income fvnd5 2024 2023 Exp•ndltur• on ralslno lunds: Jry costs Total expendrture on raising lunds Exp•ndltur• on ¢harh•bl• a¢tlvhl•s: Pool hire 81,448 83.862 11,779 13.138 25.611 83,352 83.862 11,779 13,138 25.611 11.5 342 86,222 75,267 9,548 10,427 31.643 11,8 934 Coaches ASA Membersh Gala Costs Fknme Gala Costs Bootcamp Costs Equipment Training KJI Shop Payment processmg fees Website 11,500 342 835 835 1,770 2,382 6,683 1,082 1,272 7,392 86 1.272 7,392 Su[￿ry T*xal •xp•ndtwr• on ¢harftsbl• a￿1¥1￿•$ 229,027 14,552 243,579 242,103 Oth•r Bank charges Bad debt write off Accountancy Total oth•r •xpenditur• 84 118 T*)tal exp•ndhur• 14552 243.863 242.222 13 Docusign EnvelopÈ ID". CE44295E-889&4A4A-B589-44A1F9ACFC14 Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024 1185492 BOROUGH OF WALTHAM FOREST SWIMMING CLUB Notè 4 Indtpèndtnt Examinèrs Ft•s 2024 2023 Ind•p•nd•nt •xamin•fs f••5 Total Not• 5 Tangible Ass•ts 2024 2023 Tangibl• Ass•ts Total Not• 6 O•btors and pr•paym•nts 2024 2023 Trad• d•btors Prepaymenis and a¢¢rued In¢ome Total 10,197 2,708 Note 7 Creditors and deferred income knounts falllng du• ￿thIn on• y•ar 2024 2023 Trade creditors Bad Debt Provision Aecruals and def•rr•d incom• 4,941 25913 30.854 21691 21.691 Totsl Note 8 Cash atthè bank and In hand 2024 2023 Cash at ￿nk and on hand 29.481 29,481 Total 21,567 14 Docusign EnvelopÈ ID". CE44295E-889&4A4A-B589-44A1F9ACFC14 Borough of Waltham Forest Swimming Club (BWFSC Gators) Registered Charity Number: 1185492 Trustees Annual Report & Unaudited Financial Statements For Year Ended 31 December 2024 1185492 BOROUGH OF WAL THAM FOREST SWIMMING CLUB Note 9 Funds movement in current year Fund balances brought fonvard In¢¢)mt Fund balances carried forward Expenditure Transfers Unrestllcted funds General Fund 432 237,503 1229,1111 8,824 ReStr￿ted Funds Restncted Fund Total Funds as pr b*lance sheet 2,152 12.400 249,903 14,552 243.663 1185492 BOROUGH OF WALTHAM FOREST SWIMMING CLUB Note 10 Relatgd part￿$ No related party transaction5 took place in the year to 31 Decernber 2024. Trustees recèwed 50mÈ rernuneratk?n, in the form of tse rebate, for the seNces provided tts the eharity as follows". Kamila Zapala £518 rebate for accountirKJ & bookkeeping services Margaret Tanner £322 rebate for administrative support Anna Kasparian £414 rebate for adrninistralive support In additK)n to Trustees a Se￿¢ted members have a150 provthd service5 to the chariiy a5 folows.. Catherine Murray Louise Chittock Matthew Hart £2,964 invoices for adminislralive support £1.264 rebate for adrn￿nIStra1ive supmrt £322 rebate for administrative support Going forward Trustses agreed lo rebate up to £70 per rronth for the 5 key roles. 15