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2024-03-31-accounts

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 2024

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

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 Ann Sullivan
Matthew Blake
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

Trustees’ Annual Report for the period

From: 1[st] April 2023 To: 31[st] March 2024

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.

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 2023/24 has finally seen the Club return to pre-Covid
activities with the end of the pandemic and the
completion of the refurbishment of the Commonwealth
pool.
Consequently, we have continued to increase our
membership in all age groups and Squads.
The Club are looking forward to continuing to offer more
opportunities for swimmers of all aspirations. In
particular, numbers are increasing in the Disability
Academy, Masters, and novice swimming, with the
community Squads close to capacity.
The performance side of the team has had considerable
success at national level and gaining representation at
World Championships and Paralympic Games.
The club has also maintained it’s high level of qualifiers
from the city at County, Regional and national level with
winners at all these 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 second national event camp.
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:
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.

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 2024 the charity
had reserves totalling £57,846 (2023: £66,144).
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 2024 total reserves held were £57,846,
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.

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:
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.

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		 Trustee name Office (if any) Dates acted if not for
whole year		 Name of person
(or body) entitled
to appoint trustee
(if any)
Michael Hilton Treasurer/Admin
Prof. Sophie Parker Meet Manager Up to 1stMarch 2024
Committee Member From 1stMarch 2024
Ruth Dawson Chairperson
Siobhan Ann Sullivan Secretary
Matthew Blake Committee Member Left 1stMarch 2024

– 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.

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 26th October 2024

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 2024

I report on the accounts for the year ended 31 March 2024 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:

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 2024.

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:

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.

18[th] November 2024

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

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2024

Unrestricted
Funds
Restricted
Funds
2024
2024
Notes
£
£
Income from:
Grants and donations
2
43,000
250
Charitable activities
3
280,651
-
Other income
4
2,388
-
Investments
712
-

Total
326,751
250
Expenditure on:
Raising funds
24
-
Charitable activities
5
322,468
250
Other expenditure
6
12,557
-

Total
335,049
250
Net income/(expenditure)
(8,298)
-
Transfers between funds
11
-
-
Net movement in funds
(8,298)
-
Reconciliation of funds:
Total funds brought forward
66,144
-
Total funds carried forward
11
57,846
-		 Total
Funds
2024
£
43,250
280,651
2,388
712

327,001
24
322,718
12,557

335,299
(8,298)
-
(8,298)
66,144
57,846		 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

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 2023.

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

BALANCE SHEET

AS AT 31 MARCH 2024

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		 2024
£
9,311
15,570
49,003
73,884
16,038		 £
57,846
-
57,846
57,846
-
57,846		 2023
£
11,430
2,300
54,196
67,926
1,782		 £
66,144
-
66,144
66,144
-
66,144

The financial statements were approved by the Board of Trustees on the 26[th] of October 2024 and signed on their behalf:

Michael James Hilton Trustee

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) [effective January 2022]. The financial statements have been prepared under the historical cost convention.

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.

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.

.

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024

2. INCOME FROM GRANTS & DONATIONS

Unrestricted
Funds
Restricted
Funds
£
£
MCR Active (MMU)
-
-
Swim England Funding
10,000
250
Swim England (Taster Session)
-
-
Sponsorships:
AWB & Son Ltd
3,000
-
Grants:
Manchester Council Grant
30,000
-
MCR Active Grant
-
-
43,000
250		 2024
Total
Funds
£
-
10,250
-
3,000
30,000
-
43,250		 2023
Total
Funds
£
15,500
10,250
50
-
60,000
1,000
86,800

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
Restricted
Funds
£
£
Training Fees
143,104
-
Membership Fees
11,840
-
Meets
87,138
-
External Competitions & Meets
13,147
-
Camps
25,300
-
Awards Evening
-
-
Fundraising
92
-
Miscellaneous
30
-
280,651
-**		 2024
Total
Funds
£
143,104
11,840
87,138
13,147
25,300
-
92
30
280,651		 2023
Total
Funds
£
95,295
13,186
-
23,160
33,436
1,637
247
434
167,395

**There was no income for Meets in the last financial period as it was in 2023/24 that the Club returned to pre-Covid activities following the end of the pandemic and the completion of the refurbishment of the Commonwealth pool.

4. OTHER INCOME

Unrestricted
Funds
Restricted
Funds
£
£
Club Kit
2,388
-
Sundry Income
-
-
2,388
-		 2024
Total
Funds
£
2,388
-
2,388		 2023
Total
Funds
£
2,883
-
2,883

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024

5. EXPENDITURE ON CHARITABLE ACTIVITIES

Unrestricted
Direct &
Governance
Costs
Restricted
Direct &
Governanc
e Costs
Unrestricted
Support
Costs
Restricted
Support
Costs
£
£
£
£
Salaries
107,636
-
-
-
Travel & Subsidence
-
-
9,971
-
Swim England Fees
-
-
10,880
-
Camps
-
-
108,000
-
Meets
-
-
39,527
-
External Competitions & Meets
-
-
16,203
-
Pool Hire (Raven Moss)
-
-
3,724
-
Events (Performance Centre)
-
-
1,500
-
Awards Evening
-
-
-
-
Coaching Development
-
-
1,573
250
Communications
-
-
4,598
-
Office Expenses
-
-
772
-
Office Equipment
-
-
8,318
-
Training Equipment
-
-
4,586
-
Accountancy Fees
1,400
-
-
-
Payroll Costs
646
-
-
-
Bank & Service Charges
2,422
-
-
-
Miscellaneous
-
-
712
-
112,104
-
210,364
250		 2024
Total
Funds
£
107,636
9,971
10,880
108,000
39,527
16,203
3,724
1,500
-
1,823
4,598
772
8,318
4,586
1,400
646
2,422
712
322,718		 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
Total resources expended are stated after charging:
Independent examination fees
Other accountancy costs		 2024
2023
£
£
1,400
1,400
-
757
1,400
2,157

6. OTHER EXPENDITURE

Club Kit
Sundry Expenditure		 2024
£
12,557
-
12,557		 2023
£
11,608
-
11,608

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024

7. STAFF COSTS

The movement in the year is after charging:
Wages and Salaries Costs
 2024
£
107,636		 2023
£
105,341

No employee received emoluments of £60,000 or above (2023: none).

Average number of employees during the year was 15, being an average of 4.81 full time equivalent (2023: 14, an average of 4.76 FTE):

2024 2023
Lead Coach 1.00 1.00
Performance Analysist 0.79 0.83
Coach 1.92 1.81
Coach Assistant 0.41 0.43
Administrator 0.69 0.69
4.81 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 (2023: none).

8. STOCK ANALYSIS


Sales
Less: Cost of Sales:
Stock (as at 01/04/2023)
Add: Purchases
Less: Closing Stock (as at 31/03/24)
Net Movement		 £
11,430
10,438
21,868
9,311		 2024
£
2,388
12,557
10,169		 £
5,037
18,001
23,038
11,430		 2023
£
2,883
11,608
8,725

9. DEBTORS

Debtors
Prepayments		 2024
£
15,570
-
15,570		 2023
£
2,300
-
2,300

10. CREDITORS: Amounts falling due within one year

Creditors
Accruals
Deferred Income		 2024
£
-
14,466
1,572
16,038		 2023
£
-
1,782
-
1,782

CITY OF MANCHESTER AQUATICS SWIM TEAM (COMAST)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024

11. FUND ANALYSIS

Fund Name
Balance
as at
1 April
2023
£
Unrestricted Funds
General Funds
66,144
Restricted Funds
Manchester Council Grant
-
TOTAL FUNDS
66,144
12. COMPARATIVE INFORMATION (Previous Year)
Notes
Income from:
Grants and donations
2
Charitable activities
3
Other income
4
Investments
Total
Expenditure on:
Raising funds
Charitable activities
5
Other expenditure
6
Total
Net income/(expenditure)
Reconciliation of funds:
Total funds brought forward

Funds carried forward at 31 March 2023
11		 Receipts
Payments
Transfer
of Funds

£
£
£
326,751
(335,049)
-
250
(250)
-
327,001
(335,299)
-
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
86,550
250
167,395
-
2,883
-
297
-
257,125
250
-
-
229,0259
30,250-
11,608
-

240,667
30,250
16,458
(30,000)

49,686
30,000
66,144
-		 Balance
as at
31 March
2024
£
57,846
-
57,846
Total
Funds
2023
£
86,800
167,395
2,883
297
257,375
-
259,309
11,608
270,917
(13,542)
79,686
66,144