**Charity Registration Number: 1195630** **City of Manchester Aquatics Swim Team (COMAST)** **A Charitable Incorporated Organisation (CIO)** ## **TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **For The Year Ended** **31 March 2023** ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **CONTENTS** |Members of the Board and Professional Advisers|2| |---|---| |Trustees’ Annual Report|3 to 8| |Independent Examiner’s Report|9| |Statement of Financial Activities (incorporating the income|10| |and expenditure account)|| |Balance Sheet|11| |Notes to the Financial Statements|12 to 16| - 1 - **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISORS** |**Organisation Name**|City of Manchester Aquatics Swim Team (COMAST)| |---|---| |**Charity Number**|1195630| |**Address**|Commonwealth Pool Aquatic Centre| ||2 Booth Street East| ||Manchester| ||M13 9SS| |**Trustees**|Michael Hilton| ||Professor Sophie Parker| ||Ruth Dawson| ||Siobhan Sullivan (appointed 06/02/2023)| ||Matthew Blake (appointed 06/02/2023)| ||Dianne Copeland (resigned 06/02/2023)| ||Duncan Walklet (resigned 06/02/2023)| |**Accountants**|Community Accounting Lancashire C.I.C.| ||Foxfields| ||9 Norley Close| ||Chadderton| ||Oldham| ||OL1 2RA| |**Bankers**|Royal Bank of Scotland| ||Drummond House| ||1 Redheughs Avenue| ||Edinburgh| ||EH12 9JN| - 2 - ## **Trustees’ Annual Report for the period** **From:** 1[st] April 2022 **To:** 31[st] March 2023 **Charity name:** City of Manchester Aquatics Swim Team **Charity registration number:** 1195630 ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The promotion of community participation in healthy
recreation, primarily but not exclusively, for the benefit of
the inhabitants of Manchester and the surrounding areas
by the provision of facilities for swimming and associated
events.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts|Para 1.17 and
1.19|To provide access to facilities and coaching for
swimmers in the following categories
Disability swimmers – either recreational or competitive
of all ages.
Masters’ swimmers – either recreational or competitive
for swimmers 18 years and over.
Academy
and
Community
based
swimming
for
beginners coming out of the Learn to Swim programme,
offering a pathway access for Manchester based
swimmers to progress their skills and techniques in
addition to recreational swimming.
Support for the development of all swimmers to achieve
their goals, from basic improvement to national and
international competition.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees have regard to the guidance issued by the
Charity Commission on public benefit and discuss this at
our trustees’ meetings where we plan and make
decisions for the carrying out of our activities to which
the guidance is relevant.| - 3 - ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|Not applicable.| |Policy on social investment
including program related
investment|Para 1.38|Not applicable.| |Contribution made by
volunteers|Para 1.38|Many of the Club’s activities are dependent on good
volunteers and we have a core support that regularly
assist the work we do.| |Other||Not applicable.| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole|Para 1.20|2022/23 has been a challenging year for the Club.
Following on from the restrictions of the pandemic, our
home at the main Aquatics centre has been undergoing
major refurbishment which has restricted the Club’s
activities with far less pool space. However, despite this,
new members have continued to be added to the
Community, Masters,’ and Disability Squads by using
our satellite pools.
The Performance swimmers have had great success
with medals at Commonwealth Games and European
Juniors. The Club also had increased representation at
National and County events.
The Club has a great relationship with Manchester City
Council and Swim England, the governing body of
swimming. Opportunities coming from this included
hosting a national event camp.
The Club are looking forward to exciting opportunities as
we move into new era at the refurbished Manchester
Aquatic Centre.| ## **Additional information (optional)** |**Additional information (optional)**|**Additional information (optional)**|**Additional information (optional)**| |---|---|---| |You may choose to include further statements where relevant about:||| |Achievements against
objectives set|Para 1.41|Not applicable.| |Performance of fundraising
activities against objectives
set|Para 1.41|Not applicable.| |Investment performance
against objectives|Para 1.41|Not applicable.| |Other||Not applicable.| - 4 - ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|At the end of the period to 31stMarch 2023 the charity
had reserves totalling £66,144.
Reserves carried forward from 31stMarch 2022 were
£79,686 from the assets of the “City of Manchester
Aquatics Swim Team (un-constituted)” that were
transferred to the charity at that date.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Our reserves policy is to hold 3 months costs
(expenditure) in free reserves (unrestricted funds) to
ensure all costs are covered and the charity is
sustainable as a going concern.| |Amount of reserves held|Para 1.22|As at 31stMarch 2023 total reserves held were £66,144,
being wholly from the charity’s Unrestricted Funds
(general free reserves).| |Reasons for holding zero
reserves|Para 1.22|Not applicable as reserves are held.| |Details of fund materially in
deficit|Para 1.24|No funds were in deficit.| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|Not applicable.| |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|The Charity’s principal sources of funds are from: -
Annual Memberships
Monthly Training Fees
Grant from the local Council
Income from Swim Meets - the Club organise and invite
participants to enter.| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|Not applicable.| |A description of the principal
risks facing the charity|Para 1.46|Not applicable.| |Other||Expenditure for the Club relates in the main to: -
Providing Qualified Coaching & Teaching Staff
Training Cost Support for Coaching & Teaching Staff &
Volunteers
Purchase of training equipment
Provision of kit for swimmers
Subsidy for swimmers on international meets and
training camps
General Administration costs for the running of the Club.| - 5 - ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|
Para 1.25|Constitution| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Charitable Incorporated Organisation (CIO)| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Elected from Membership| |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|We have written policies in place, which are given to our
new Trustees to read, and a training programme is in
place to ensure that any newly appointed Trustees will
receive training on all matters necessary for them to be
able to perform their duties effectively.| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|Policies and procedures:
Club Development Plan 2021-2023
Equality Plan
Training Needs Analysis
Codes of Conduct for Swimmers, Parents, Coaches &
Teachers
Codes of Conduct for Committee Members, Volunteers
& Officials
Risk Assessments for Training, Land Training & Abroad
Trips
Club Emergency Procedures for all Pools| |Relationship with any
related parties|Para 1.51|Related Parties:
Swim England – Governing Body
Manchester City Council via MCRactive
GLL – Pool Operator
MMU (Sports Scholarships - Swimming)
England Para Swimming – Disability Academies
Manchester Club Network Group| |Other||Not applicable.| - 6 - ## **Reference and Administrative details** |Charity name|City of Manchester Aquatics Swim Team| |---|---| |Other name the charity uses|COMAST| |Registered charity number|1195630| |Charity’s principal address|Commonwealth Pool Aquatic Centre
2 Booth Street East
Manchester
M13 9SS| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person**
**(or body) entitled**
**to appoint trustee**
**(ifany)**| |---|---|---|---|---| ||Michael Hilton|Treasurer/Admin||| ||Prof. Sophie Parker|Meet Manager||| ||Ruth Dawson|Chairperson||| ||Siobhan Sullivan|Secretary|From 6th February 2023|| ||Matthew Blake|Committee Member|From 6th February 2023|| ||Dianne Copeland|Secretary|Left 6th February 2023|| ||Duncan Walklet|Committee Member|Left 6th February 2023|| ## – Corporate trustees names of the directors at the date the report was approved **Director name** Not applicable Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |Not applicable||| ## **Funds held as custodian trustees on behalf of others** |Description of the assets
held in this capacity|Not applicable.| |---|---| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|Not applicable.| |Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|Not applicable.| - 7 - ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of adviser Name Address** Accountant Community Foxfields, 9 Norley Close, Chadderton, Oldham, Accounting Lancashire, OL1 2RA Lancashire C.I.C. **Name of chief executive or names of senior staff members (Optional information)** Not applicable. ## **Exemptions from disclosure** ## **Reason for non-disclosure of key personnel details** Not applicable. ## **Other optional information** None. ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** ## **Signed on behalf of the charity’s trustees** **Signature(s) Full name(s)** Michael James Hilton **Position (eg Secretary,** Treasurer/Admin **Chair, etc) Date** 12th June 2023 - 8 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **REPORT TO THE MEMBERS ON THE UNAUDITED FINANCIAL STATEMENTS OF CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **YEAR ENDED 31 MARCH 2023** I report on the accounts for the year ended 31 March 2023 set out on pages 10 to 16. ## **Respective Responsibilities of Trustees and Examiner** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The charity’s trustees consider an audit is not required for this year under section 144 of the 2011 Act, and that an independent examination is needed. It is my responsibility as independent examiner to: - ~ examine the accounts under section 145 of the 2011 Act - ~ follow the applicable Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act, and; - ~ to state whether particular matters have come to my attention ## **Basis of Independent Examiners Report** My examination was carried out in accordance with the Directions given by the Charity commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent Examiners Statement** I have completed my examination for the year ended 31 March 2023. I can 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: - ~ accounting records were not kept in accordance with section 130 of the 2011 Act or - ~ the accounts do not accord with the accounting records to comply with the accounting requirements of the 2011 Act - ~ the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Independent Examiners Qualification** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination, being a Fellow Member of the Association of Accounting Technicians, which is one of the listed bodies. ## 27[th] June 2023 ## **Miss Jacqueline Bird F.M.A.A.T.** _Practicing Licence Number: 1003659_ **Community Accounting Lancashire C.I.C.** Foxfields, 9 Norley Close, Chadderton, Oldham, OL1 2RA - 9 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 31 MARCH 2023** |**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2023**
**2023**
**_Notes_**
**£**
**£**
**Income from:**
Grants and donations
**_2_**
86,550
250
Charitable activities
**_3_**
167,395
-
Other income
**_4_**
2,883
-
Investments
297
-

**Total**
257,125
250
**Expenditure on:**
Raising funds
-
-
Charitable activities
**_5_**
229,059
30,250
Other expenditure
**_6_**
11,608
-

**Total**
240,667
30,250
**Net income/(expenditure)**
16,458
(30,000)
**Transfers between funds**
**_11_**
-
-
**Net movement in funds**
16,458
(30,000)
**Reconciliation of funds:**
Total funds brought forward
**49,686**
**30,000**
**Total funds carried forward**
**_11_**
**66,144**
**-**|**Total**
**Funds**
**2023**
**£**
86,800
167,395
2,883
297
257,375
-
259,309
11,608
270,917
(13,542)
-
(13,542)
**79,686**
**66,144**||**Total**
**Funds**
**2022**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
**79,686**
**79,686**| |---|---|---|---| ||||| ||||| ||||| ||||| ||||| ||||| The notes on pages 12 to 16 form part of these financial statements. Note 12 to the accounts shows a comparative Statement of Financial Activities for the year ended 31 March 2022. - 10 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **BALANCE SHEET** ## **AS AT 31 MARCH 2023** |**_Notes_**
**CURRENT ASSETS**
Stocks
**_8_**
Debtors
**_9_**
Cash at Bank and in Hand
**CREDITORS: Amounts falling due**
**within one year**
**_10_**
**NET CURRENT ASSETS**
**CREDITORS: Amounts falling due**
**after one year**
**NET ASSETS/(LIABILITIES)**
**FUNDS OF THE CHARITY**
Unrestricted Funds
Restricted Funds
**TOTAL FUNDS**
**_11_**|**2023**
**£**
11,430
2,300
54,196
67,926
1,782|**£**
66,144
-
**66,144**
66,144
-
**66,144**|**2022**
**£**
5,037
-
74,649
79,686
-|**£**
79,686
-
**79,686**
49,686
30,000
**79,686**| |---|---|---|---|---| The financial statements were approved by the Board of Trustees on the 12[th] of June 2023 and signed on their behalf: Michael James Hilton **Trustee** - 11 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of accounting** 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 (FRS102) issued on 16 July 2014 [as updated through Update Bulletin 1 published on 2 February 2016 and also Update Bulletin 2 published on 5 October 2018) – (Charities SORP (FRS 102)], the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. “City of Manchester Aquatics Swim Team (un-constituted)” were converted to “City of Manchester Aquatics Swim Team CIO”, a Charitable Incorporated Organisation (CIO), being registered at the Charity Commission on the 25[th] of August 2021. The assets and liabilities of “City of Manchester Aquatics Swim Team (un-constituted)” were transferred to “City of Manchester Aquatics Swim Team CIO” on the 31[st] of March 2022, being the funds brought forward as at the 1[st] of April 2022. As such there were no comparables for income and expenditure for the year ended the 31[st] of March 2022. ## **Going Concern** The trustees are satisfied that there are no material uncertainties about the charity’s ability to continue. ## **Incoming Resources** All income, including grants and donations, is recognised once the charity has entitlement to the income. It is probable that the income will be received, and the amount of income receivable can be measured reliably. Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria’s is identified to the fund, together with a fair allocation of overheads and support costs. Unrestricted funds are for grants, donations and other incoming resources received or generated for charitable purposes. ## **Resources Expended** All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to applicable expenditure headings. Charitable expenditure shall include all expenditure directly related to the objects of the charity, including the cost of goods and services, that have been incurred in charitable activities. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount for the obligation can be measured reliably. ## **Governance Costs** Governance costs shall include all expenditure directly related to the administration of the charity including expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements. - 12 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023** ## **2. INCOME FROM GRANTS & DONATIONS** |**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
MCR Active (MMU)
15,500
-
Swim England Funding
10,000
250
Swim England (Taster Session)
50
-
Grants:
Manchester Council Grant
60,000
-
MCR Active Grant
1,000
-
**86,550**
**250**|**2023**
**Total**
**Funds**
**£**
**15,500**
**10,250**
**50**
**60,000**
**1,000**

**86,800**
|2022
Total
Funds
£
-
-
-
-
-| |---|---|---| ## **3. INCOME FROM CHARITABLE ACTIVITIES** |**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
Training Fees
95,295
-
Membership Fees
13,186
-
Camps
33,436
-
Competitions & Meets
23,160
-
Awards Evening
1,637
-
Fundraising
247
-
Miscellaneous
434
-
**167,395**
**-**
**4. OTHER INCOME**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
Club Kit
2,883
-
Sundry Income
-
-
**2,883**
**-**||**2023**
**Total**
**Funds**
**£**
95,295
13,186
33,436
23,160
1,637
247
434
**167,395**
**2023**
**Total**
**Funds**
**£**
2,883
-
**2,883**|2022
Total
Funds
£
-
-
-
-
-
-
-
-
2022
Total
Funds
£
-
-
-| |---|---|---|---| ||||| ||||| - 13 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023** ## **5. EXPENDITURE ON CHARITABLE ACTIVITIES** |**Unrestricted**
**Direct &**
**Governance**
**Costs**
**Restricted**
**Direct &**
**Governance**
**Costs**
**Unrestricted**
**Support**
**Costs**
**Restricted**
**Support**
**Costs**
**£**
**£**
**£**
**£**
Salaries
**105,341**
**-**
**-**
**-**
Travel & Subsidence
**-**
**-**
**12,337**
**-**
Swim England Fees
**-**
**-**
**7,682**
**-**
Camps
**-**
**-**
**61,386**
**30,000**
Competitions & Meets
**-**
**-**
**23,378**
**-**
Pool Hire (Raven Moss)
**-**
**-**
**3,504**
**-**
Events (Performance Centre)
**-**
**-**
**1,500**
**-**
Awards Evening
**-**
**-**
**2,351**
**-**
Coaching Development
**-**
**-**
**1,814**
**250**
Communications
**-**
**-**
**2,760**
**-**
Office Expenses
**-**
**-**
**359**
**-**
Office Equipment
**-**
**-**
**1,652**
**-**
Training Equipment
**-**
**-**
**1,332**
**-**
Accountancy Fees
**2,157**
**-**
**-**
**-**
Payroll Costs
**1,132**
**-**
**-**
**-**
Bank & Service Charges
**245**
**-**
**-**
**-**
Miscellaneous
**-**
**-**
**129**
**-**
**108,875**
**-**
**120,184**
**30,250**|**2023**
**Total**
**Funds**
**£**
**105,341**
**12,337**
**7,682**
**91,386**
**23,378**
**3,504**
**1,500**
**2,351**
**2,064**
**2,760**
**359**
**1,652**
**1,332**
**2,157**
**1,132**
**245**
**129**
**259,309**|2022
Total
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-| |---|---|---| |**Total resources expended are stated after charging:**
Independent examination fees
Other accountancy costs|**2023**
2022
**£**
£
**1,400**
-
**757**
-
**2,157**
-| |---|---| The accounts previously have been prepared on a ‘Receipts and Payments’ basis, and as such the independent examiners fee was paid in the following accounting period. The £757 is for the year ending 31[st] March 2022 fees. However, as the annual income has exceeded £250,00 in this financial period, for the year ended 31[st] March 2023, the financial statements (accounts) have this year been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities. As such accrual accounts have been prepared and the £1,400 fees for the independent examination of the year ended 31[st] March 2023 have been accrued and included in the ‘Statement of Financial Activities’. ## **6. OTHER EXPENDITURE** |Club Kit
Sundry Expenditure|**2023**
**£**
**11,608**
**-**
**11,608**|2022
£
-
-| |---|---|---| |||-| - 14 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023** ## **7. STAFF COSTS** |The movement in the year is after charging:
Wages and Salaries Costs|**2023**
**£**
**105,341**|**2022**
**£**
-| |---|---|---| No employee received emoluments of £60,000 or above (2022: none). Average number of employees during the year was 14, an average of 4.76 full time equivalent: |
Lead Coach
Performance Analysist
Coach
Coach Assistant
Administrator|**2023**
1.00
0.83
1.81
0.43
0.69| |---|---| ||**4.76**| One Trustee was paid an annual remuneration of £9,768 for administration services during the course of the year (2022: £9,768). There were no related party transactions during the year (2022: none). ## **8. STOCK ANALYSIS** |
Sales
Less: Cost of Sales:
Stock (as at 01/04/2022)
Add: Purchases
Less: Closing Stock (as at 31/03/23)
**Net Movement**|**£**
5,037
18,001
23,038
11,430|**2023**
**£**
2,883
11,608
**(8,725)**| |---|---|---| ## **9. DEBTORS** |Debtors
Prepayments
|**2023**
**£**
**2,300**
**-**
**2,300**|2022
£
-
-
-| |---|---|---| ## **10. CREDITORS: Amounts falling due within one year** |Creditors
Accruals|**2023**
**£**
**-**
**1,782**
**1,782**|2022
£
-
-
-| |---|---|---| - 15 - ## **CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023** ## **11. FUND ANALYSIS** |**Fund Name**
**Balance**
**as at**
**1 April**
**2022**
**£**
**Unrestricted Funds**
General Funds
29,686
Designated Funds*
20,000
**49,686**
**Restricted Funds**
Manchester Council Grant
30,000
**30,000**
**TOTAL FUNDS**
**79,686**|**Receipts**
**Payments**
**Transfer**
**of Funds**
**Balance**
**as at**
**31 March**
**2023**
**£**
**£**
**£**
**£**
257,125
(240,667)
20,000
66,144
-
-
(20,000)
-
**257,125**
**(240,667)**
**-**
**66,144**
250
(30,250)
-
-
**250**
**(30,250)**
**-**
**-**
**257,375**
**(270,917)**
**-**
**66,144**| |---|---| * An amount of £20,000 was historically set aside in Designated Funds by the committee of “City of Manchester Aquatics Swim Team” for the purpose of any contractual redundancy payments and for hardship from swimmers. This was transferred over on the 31[st] of March 2022 to “City of Manchester Aquatics Swim Team CIO” where the board of trustees approved to release the Designated Funds back to the General Funds to adhere to free reserve levels, as per the reserve policy of “City of Manchester Aquatics Swim Team CIO”. ## **12. COMPARATIVE INFORMATION (Previous Year)** |||**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---| |||**Funds**|**Funds**|**Funds**| |||**25/08/21 to**|**25/08/21 to**|**25/08/21 to**| |||**31/03/22**|**31/03/22**|**31/03/22**| ||**_Notes_**|**£**|**£**|**£**| |**Income from:**||||| |Grants and donations|**_2_**|-|-|-| |Charitable activities|**_3_**|-|-|-| |Other income|**_4_**|-|-|-| |**Total**||-|-|-| |**Expenditure on:**||||| |Raising funds||-|-|-| |Charitable activities|**_5_**|-|-|-| |Other expenditure|**_6_**|-|-|-| |**Total**||-|-|-| |**Net income/(expenditure)**||-|-|-| |**Reconciliation of funds:**||||| |Funds transferred at 31 March 2022**||49,686|30,000|79,686| |**Funds carried forward at 31 March 2022**|**_11_**|
**49,686**|**30,000**|**79,686**| **The assets of “City of Manchester Aquatics Swim Team” of £79,686 (£74,649 cash funds and ££5,037 stock) were transferred to “City of Manchester Aquatics Swim Team CIO” on the 31[st] of March 2022. - 16 -