## PETERSFIELD OPEN AIR
## SWIMMING POOL
Report and Financial Statements
Period ending 31 December 2022
## Charity number 1195755
Final Version - Approved on 18/04/23
www.petersfieldpool.org
Petersfield Open Air Swimming Pool is a Charitable Incorporated Organisation. Reg Charity No. 1195755
## PETERSFIELD OPEN AIR SWIMMING POOL
## ANNUAL REPORT AND ACCOUNTS
FOR THE PERIOD ENDING 31 DECEMBER 2022
2. Annual Report Index
3. Charity Information
- 4-11. Trustees’ Annual Report
12. Independent Examiner's Report
13. Statement of Financial Activities
14. Balance Sheet
- 15-24. Notes to the Accounts
2
## **Charity Information**
Charity number: 1195755 Principal Office: Heath Road, Petersfield, Hampshire GU31 4DZ
## **Our advisers**
Independent Examiner
Gordon Beer MA (Cantab) FCA GRB Chartered Accountant 4 Chilgrove House, Marden Way, Petersfield, Hampshire GU31 4PU
Bankers Nat West Bank plc 4 High Street, Petersfield, Hampshire, GU32 3JF
**Trustees who served during the year and to the date of this approval were as follows:**
**----- Start of picture text -----**
Name Appointed Resigned Nominating Body
* --
Linda Knutsen [Chair] Effective 01 Jan 2022
Vaughan Clarke Effective 01 Jan 2022 * --
Jonathan Daley Effective 01 Jan 2022 * --
Andrew Elder 08 Nov 2022 --
Jamie Matthews Effective 01 Jan 2022 * 16 May 2022 Petersfield Town Council
Paul Milner 14 June 2022 -- Petersfield Town Council
David Robbins Effective 01 Jan 2022 * --
Paul Savage Effective 01 Jan 2022 * 03 May 2022
Sheila Spence Effective 01 Jan 2022 * --
Karen Tyrell 07 Feb 2022 03 May 2022
Trustees * who also acted for the old (pre CIO) charity are shown in post effective from 01 Jan 2022
**----- End of picture text -----**
## **Principal Officers**
Treasurer Synamon Harvey-Forrester
3
## **Petersfield Open Air Swimming Pool**
## **Report of the trustees for the period ending 31 December 2022**
The trustees are pleased to present their annual report together with the financial statements of the charity and for the period ending 31 December 2022. This being the first year as a Charitable Incorporated Organisation (CIO). The trustees have adopted the provisions of the Statement of Recommended Practice (SORP): Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and (FRS 102) issued on 14 July 2014 and the Charities Act 2011.
## **Chair’s Report**
This annual report reflects the first full operational period of Petersfield Open Air Swimming Pool (POASP) as a CIO (Charitable Incorporated Organisation) with a financial year end concurrent with the calendar year. 2022 was also a first year for our new General Manager, Tom Callingham, who has joined us with over 10 years’ experience as a manager in the sport and leisure industry. Tom has hit the ground running in terms of understanding the pool’s USP, the vision and purpose of the charity and the provision of a community pool to serve the people of Petersfield and surrounding area. He has undertaken certified training where needed and is qualified to train the lifeguards. The trustees believe that Tom is a real asset to the pool and is proving very proficient in his role as General Manager and is popular with the staff, trustees and customers alike.
The team of 7 trustees decided at the start of the year not to be too ambitious in terms of extra offerings to the customers and community. It was the first full year of no Covid restrictions and we resumed similar timetable and non-booking entry operations that we undertook before the pandemic. Lessons continued to be very popular and private hire events were also in high demand. The kitchen (Dive Thru Café) was able to open offering light refreshments and sandwiches as well as snacks and hot drinks. The operations team planned to ensure that there was a variety of different sessions in the timetable to maximise revenue, such as morning lane swimming, children’s inflatable sessions and shorter quick dip / low cost sessions. What was unexpected in the planning of the timetable was the unprecedented spell of very hot weather which put pressure on the pool to turnover people in the longer general swim sessions as we hit maximum bather load for long periods of time. This was unfortunate for those customers waiting long times for entry in the sun, and ultimately damaged the reputation of the pool in its ability to service the community in very hot weather. Improving this aspect is a high priority in our planning for 2023. The season ended with a special celebration for the pool’s 60[th] birthday as it opened in May 1962.
The trustees have decided to implement a new booking system in 2023 so that customers have the ability to guarantee entry, and some swim sessions will also be shorter to allow a turnover of people in hot weather. The long term aims of the CIO remains the same as the original constitution but with a focus on sustainability for both the business and the environment in which it operates in the coming medium to long term future.
Finally a big thank you to all our staff, trustees, volunteers, customers and swimmers for continuing to support our charity within the community of Petersfield.
**Linda Knutsen**
**Chair of Trustees**
**POASP CIO**
4
## **History, Purpose and Activities**
The former charity known as Petersfield Open Air Pool (No:301917) was created on 31 July 1961 with a Deed of trust by Petersfield Urban District Council who thereby made the land available at Heath Road, Petersfield, Hampshire, GU31 4DZ. On 1[st] January 2022 the assets and liabilities of the former charity were transferred to a new Charitable Incorporated Organisation known as Petersfield Open Air Swimming Pool created on 8 September 2021 with the new charity no of 1195755.
The objectives of the Petersfield Open Air Swimming Pool are to promote community participation in healthy recreation by the provision and maintenance of a swimming pool for the benefit of the inhabitants of Petersfield and the surrounding area for the purposes of providing leisure swimming, training facilities, lessons, courses and associated facilities for local individuals, schools and organisations.
## **Achievements and Performance**
The record breaking temperatures of July and August 2022 generated strong demand for swim ticket sales particularly those for family groups. This activity also emphasised the variability and seasonal nature of the pool income profile which may be represented by the following graphs.
Other 2022 Performance Stats and Achievements were as follows:
- Four local community schools scheduled group swimming lessons with approximately 250 pupils receiving lessons.
-
- A further 200 individual children received individual lessons across several types of lesson format.
- From over the counter transactions approximately 21,700 swimming sessions were registered over the season of which 58% were in the months of July and August.
-
- Refreshment income at our ‘Drive Thru Café’ [pictured on page 6] was £23,730 representing 12% of total trading income.
- The Anniversary Party held in September 2022 closed the main season period and was held to commemorate the 60[th] year of the pool in Petersfield given the original opening date of May 1962.
-
- National publicity gained via published photographs from Big Ladder Photography.
- Our website petersfieldpool.org is progressively being updated to provide added functionality and customer information to improve efficiency and customer care.
5
## **A Selection of Pictures from the 2022 Pool Season**
6
The Big Ladder Photographer www.bigladder.co.uk 7
## **Financial Review**
This report covers the first year of trading for POASP as a CIO with a calendar year financial period. Given which no comparative figures are presented. In addition with the last two years being disrupted by the Covid pandemic (no trading activity in 2020) it is appropriate to re-set the financial objectives and establish new KPI’s for management and monitoring purposes. With this in mind the following observations have been noted and discussed by the Trustees.
## a. Trading Results and Budget
The overall revenue surplus of £34,937 was comfortably above the prudent budget albeit primarily attributable to cost and efficiency savings under the expenditure headings of staffing, utilities and maintenance. Trading income was below budget but largely offset by growth in other income including donations, grants and fundraising.
## b. Sensitivity of Trading Performance
The sensitivity of swimming activity to weather conditions and its seasonal profile are factors that the Trustees routinely monitor and the planned adoption of a new booking system is expected to improve the stability of swim session income as evidence from comparable Lido businesses indicates.
- c. Other Income
- £17,485 of Other Income is reported and the pie chart below illustrates the respective sources.
Given the sensitivity of core trading performance it is recognised that growth in the above headings will help to fund site and facility improvements and to secure the reserve funding policy position to secure the future.
## d. Staff Costs
Total staff costs of £87,494 are reported representing 46.8% of total expenditure. Efficient management of this budget was a feature of this expenditure heading which includes on costs, holiday pay and employers’ pension costs. Notwithstanding this position the requisite safe staffing ratios remain an essential priority in the planning of staffing schedules.
## e. Bank and Loan Balance
At the year end a total bank balance of £216,281 is reported comprising two separate current accounts which are used for operational and fundraising purposes. This balance includes the remaining cash balance (£31,751) of the Covid Bounce Back Loan taken in 2021 with an initial
8
balance of £40,000. Note 14 to the accounts covers the disclosure requirements of the of the loan which is being repaid over a maximum 6 year term and may be repaid early in full or in part as decided by the Trustees. Interest earning accounts are being evaluated given the recent rise in marginal savings interest rates.
Given the sensitivity of core trading performance it is recognised that growth in the cash balance will help to fund site and facility improvements and to secure the reserve funding policy position to secure the future (see below).
## f. 2023 Season Planning Budget
A revenue budget for 2023 has been set with an objective of generating a 10% net surplus to total income ratio, In the current economic climate cost sensitivities of operational, maintenance and utility expenditure are key to the setting of ticket and session prices. The trading income headings are budgeted to increase by approximately 10% given growth and pricing changes including those arising from the adoption of a new booking system.
## **Reserves Policy**
Unrestricted funds (being reserves not represented by fixed assets) are needed to provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice and to cover administration, fund raising and support costs without which the charity could not function. The trustees consider it prudent that the unrestricted reserves level should be sufficient to cover 3 months of staff wages (salaried staff, excluding overtime), 3 months of operations and maintenance (establishment costs), 3 months of administration costs and as a contingency for major maintenance works and unforeseen risk expenditure.
Given these criteria the level is currently set at £100,000 and this is monitored and reviewed by the trustees on a regular basis.
## **Plans for the Future**
The Trustees are working on a new Development Plan for the pool with a focus on the short, medium and long-term position arising from an internal SWOT analysis recently undertaken.
The emerging elements of the plan are as follows.
|Time Frame|Time Period|Emerging Elements|
|---|---|---|
|Short-Term|0 – 3 yrs|New Booking System, Complete Development & Facility Plan
Refurbishment of Toilet Facilities, Grow Other Income inc Grants
Investigate Lettings Income Opportunities
Formalise a Trustee Sucession Plan
Investigate Green and Renewable Energy Options|
|Medium
Term|3 – 10 yrs|Develop Community Hub Aspects of POASP
Further Develop Lettings and Extended Season Opportunities
Continue to Refurbish the Site Facilities|
|Long Term|10 yrs +|Consider Long Term Issues for POASP inc The Pool Structure (at 60+
Yrs Old)
Evaluate the potential impact of Local Development/ Infrastructure
Projects that are relevant to the existing site and long term future of
the pool|
9
## **Structure, Governance and Management**
## **Governing Document and Organistaion**
Petersfield Open Air Swimming Pool is a Charitable Incorporated Organisation (CIO) governed by its constitution dated 14 Dec 2021. The charity has the power to borrow funds, lease equipment, dispose of property, employ & remunerate staff and to deposit or invest funds with all its powers subject to the relevant Charities Act 2011 provisions.
## **Appointment of trustees**
The CIO constitution provides for a minimum of five and a maximum of eight trustees with a provision that the majority reside in the Petersfield Area of charity benefit. All trustees of the charity are appointed for a three year term following a suitable resolution being passed at a formal meeting. Petersfield Town Council are an ‘Appointing Body’ so may nominate one trustee for appointment who will have the same responsibilities as the other trustees.
## **Trustee induction and training**
New trustees will receive (before appointment) the following information: a. A copy of the current version of the charity constitution
b. A copy of the POASP CIO’s latest Trustees’ Annual Report and statement of accounts.
Other elements of new trustee induction will include:
c. A visit to the pool site to meet fellow trustees and the pool manager.
d. A briefing covering the pool history, governance arrangements, activity program, budgetary position and development plans. This will be undertaken by the Chair or other trustees as appropriate.
10
## **Risk management**
The trustees have a risk management strategy which comprises:
an annual review of the risks the charity;
the establishment of systems and procedures to mitigate those risks identified in the plan; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
This work has identified that financial sustainability is the major long term financial risk for the charity. A key element in the management of financial risk is via a regular review of the reserves policy.
## **Trustees’ responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law and the law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 1985, the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Linda Knutsen
## **Chair of the Trustees**
## **18 April 2023**
11
PETERSFIELD OPEN AIR SWIMMING POOL
12
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR PERIOD ENDED 31 DECEMBER 2022
|Note
3
3
3
3
**RESOURCES EXPENDED**
**Expenditure on:**
6
6
6
**Extraordinary items**
7
**_Reconciliation of_**
**_funds:_**
**Income**
Raising funds
**_Total_**
**INCOMING RESOURCES**
Donations and legacies
_Extraordinary Item -_Gains on revaluation of fixed assets for
the charity’s own use
Charitable activities
Total funds brought forward at 14 April 2022 from former
charity
**_Net movement in funds_**
**Other recognised gains/(losses):**
**Income and endowments from:**
**_Total funds carried forward at 31_**
**_December 2022_**
**_Total_**
**Net Surplus**
Other trading activities
Charitable activities|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
11,658
-
-
11,658
-
204,173
-
-
204,173
-
5,827
-
-
5,827
-|
|---|---|
||221,658
-
-
221,658
-|
||1,558
-
-
1,558
-
185,162
-
-
185,162
-|
||186,720
-
-
186,720
-|
|||
||34,938
-
-
34,938
-|
||-
-
-
-
-
363,762
363,762
-|
||34,938
-
363,762
398,700
-|
||217,408
-
-
217,408
-|
||252,346
£
-
363,762
£
616,108
£
-|
13
## PETERSFIELD OPEN AIR SWIMMING POOL
## BALANCE SHEET
AS AT 31 DECEMBER 2022
|**Fixed assets**
**Tangible assets**
**_Total fixed assets_**
**Current assets**
**Stocks**
**Debtors**
**Cash at bank and in hand**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year**
**_Net current assets_**
**Creditors: amounts falling due after one**
**year**
**_Total net assets_**
**Funds of the Charity**
**Endowment funds**
**Unrestricted funds**
**_Total funds_**|Note
11|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
66,995-363,762 430,757
-|
|---|---|---|
|||66,995-363,762 430,757
-|
||12
13
16|2,057 - - 2,057
-
2,105 - - 2,105
-
216,281- -216,281
-|
|||220,443- -220,443
-|
||14
14
7|10,616 - - 10,616
-|
|||209,827- -209,827
-|
|||24,476- -24,476
-|
|||252,346-363,762616,108
-|
|||-
363,762 363,762
-
252,346
-252,346
-|
|||£252,346-£ 363,762£ 616,108
-|
The charity was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The trustees have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by D T Robbins on behalf of all the trustees DT Robbins
Date of approval 18 April 2023
14
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
- a) BASIS OF PREPARATION
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements include all transactions, assets and liabilities for which the charity is responsible in law.
## b) GOING CONCERN
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## c) INCOMING RESOURCES
All income and donations are accounted for when received by the charity. Grants are accounted for when the charity has entitlement to the funds, certainty of receipt and the amount is measurable.
## d) DONATED SERVICES AND FACILITIES
Donated services or facilities are included in incoming resources when the benefit to the charity is reasonably quantifiable and measurable. They are valued by the trustees at the amount the charity would have been willing to pay for the services or facilities on the open market.
## e) FUND ACCOUNTING
_Endowment funds_ are funds, the capital of which must be maintained; only income arising from investment of endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.
_Restricted funds_ represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trusty or bequest, and (b) donations or grants received for a specific object or invited by the Petersfield Open Air Swimming Pool.
_Unrestricted funds_ are available to use to further any of the purposes of the charity.
15
## PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## f) RESOURCES EXPENDED
All resources expended are recognised when incurred. Any grants or donations expended are accounted for once awarded and there is a legal or constructive obligation on the charity.
## g) TANGIBLE FIXED ASSETS
The Freehold Property being The Open Air Swimming Pool in Heath Road, Petersfield and adjoining land is pending formal registration with the Land Registry having been transferred to the POASP CIO structure under a Vesting agreement with Petersfield Town Council date 31 January 2022. It is treated as a Permanent Endowment in the Balance Sheet and has been valued by the Trustees in these accounts at its insurance value as no independent valuation was available.
The Trustees consider that as The Petersfield Open Air Swimming Pool and adjoining land has a high residual value there is no need to charge depreciation on it in the year. This position will be reviewed at each year end in future.
Individual fixed assets costing £3,000 or more are capitalised at cost and are depreciated on a reducing balance basis of 10% as disclosed in note 11.
## h) STOCK
Stock is included at the lower of cost or net realisable value.
## i) PENSIONS
The charity has registered with NEST and eligible employees are auto enrolled as per pension regulations. The Scheme is a defined contribution scheme with the costs equal to the contributions made for the accounting period. The charity’s contributions are shown in Note 10.
## j) OFFSETTING
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRD 102.
## k) GOVERNMENT GRANTS
The charity has received government grants in the reporting period, these are included in note 4.
- l) TAX RECLAIMS ON DONATIONS AND GIFTS Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
16
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
- m) VOLUNTEER HELP
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
- n) REDUNDANCY PAYMENTS
The charity made no redundancy payments during the reporting period.
- o) No material item of deferred income has been included in the accounts.
- p) The charity has creditors which are measured at settlement amounts less any trade discounts.
## 2. LEGAL STATUS OF THE CHARITY
Petersfield Open Air Swimming Pool is a Charitable Incorporated Organisation (CIO) governed by its constitution dated 14 December 2021. The Charity has the power to borrow funds, lease equipment, dispose of property, employ and remunerate staff and to deposit or invest funds with all its powers subject to the relevant Charities Act 2011 provisions. If the POASP CIO is wound up, the members of the POASP CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
17
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 3. INCOME
No income is shown in prior year, as this is the first year of trading for this charity. There are no material items of income to note.
All sums are originally denominated in GBP.
|**Donations**
**and legacies:**
**Charitable**
**activities:**
**Other trading**
**activities:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
Donations and gifts
4,786 - - 4,786
-
Gift Aid
697 - - 697
-
Legacies
- - - - -
General grants provided by government/other
charities
6,175 - - 6,175
-
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services
- - - - -
Other
- - - -
**Analysis of income**|
|---|---|
||**Total** 11,658 - -11,658
-|
||- - -
Daily Tickets
109,246 - - 109,246
-
Season Tickets
13,999 - - 13,999
-
Swim Vouchers
18,527 - - 18,527
-
Merchandise
3,245 - - 3,245
-
Refreshment Sales
23,730 - - 23,730
-
Pool Hire
13,960 - - 13,960
-
Swimming Lessons and Courses
19,837 - - 19,837
-
Solar Panel Tariff Income
1,629
1,629|
||**Total** 204,173 - -204,173
-|
||Fundraising Events
5,827 - - 5,827
-
- - - -
- - - -
Other
- - - - -|
||**Total** 5,827- -5,827
-|
|||
|221,658- -221,658
-
**TOTAL INCOME**||
18
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 4. ANALYSIS OF RECEIPTS OF GOVERNMENT GRANTS
|||||**This year**||
|---|---|---|---|---|---|
|||**Description**||**£**||
|**Petersfield Town Council**|Perennial Grant||||5,000|
|**Petersfield Town Council**|UCP Ukraine Grant||||200|
|**East Hampshire District Council**|Councillor Grant||||975|
|**Other**|||||-|
||||**Total**||6,175|
|||||**Last year**||
|||**Description**||**£**||
||||||-|
||||||-|
||||||-|
|**Other**|||||-|
||||**Total**
||-|
## 5. DONATED GOODS, FACILITIES AND SERVICES
There have been no donated goods, facilities or services recognised in the accounts. However, at the beginning and end of the season and from time to time a team of volunteers support the operation and maintenance of the pool under direction of the trustees who are very grateful for this ongoing support.
19
## PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 6. EXPENDITURE
|**Total expenditure on charitable activities**
**Analysis**
**Expenditure on raising funds:**
Staging fundraising events
Advertising & Marketing
Treasurer Fees
Teaching Wages
**Total expenditure on raising funds**
**Expenditure on charitable activities:**
**TOTAL EXPENDITURE**
Audit & Accountancy fees
Bank and Payment Fees
Licences
Cleaning
Consulting
General Administrative Expenses
Depreciation Expense
Poolside Equipment
Merchandise Purchases
Insurance
Interest Paid
Electricity
Gas
Waste Collection
Salaries
Staff Training
Pensions Costs
Water Supply and Discharge
Pest Control
Refreshment Purchases
Rates
Chlorine and Chemicals
Repairs & Maintenance|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|
|---|---|
||1,558- -1,558- - - -|
||1,558- -1,558- - - -|
||1,012 - - 1,012 - - - -
650 - - 650 - - - -
3,562 - - 3,562 - - - -
6,842 - - 6,842 - - - -
3,691 - - 3,691 - - - -
688 - - 688 - - - -
1,109 - - 1,109 - - - -
497 - - 497 - - - -
3,169 - - 3,169 - - - -
5,432 - - 5,432 - - - -
3,851 - - 3,851 - - - -
1,753 - - 1,753 - - - -
11,164 - - 11,164 - - - -
658 - - 658 - - - -
3,473 - - 3,473 - - - -
5,801 - - 5,801 - - - -
10,671 - - 10,671 - - - -
699 - - 699 - - - -
12,097 - - 12,097 - - - -
269 - - 269 - - - -
7,539 - - 7,539 - - - -
10,686 - - 10,686 - - - -
1,010 - - 1,010 - - - -
87,494 - - 87,494 - - - -
827 - - 827 - - - -
518- -518- - - -|
||185,162- -185,162- - - -|
|||
||186,720
-
-
186,720
-
-
-
-|
20
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 7. EXTRAORDINARY ITEMS
||**This year**|**Last year**||
|---|---|---|---|
|**Description**|**£**|**£**||
|**TANGIBLE FIXED**
Gains on revaluation of fixed assets for the charity’s own||||
|**ASSETS**
use||||
||363,762||-|
||-||-|
|
**Total extraordinary items**|363,762||-|
|DETAILS OF CERTAIN TYPES OR EXPENDITURE||||
|FEES FOR EXAMINATION OF THE ACCOUNTS||||
||**This year**|**Last year**||
||**£**|**£**||
|
**Independent examiner’s fees**|700|-||
|
**Assurance services other than independent examination**|-|-||
|
**Tax advisory fees**|-|-||
|**Other fees (for example: financial advice, consultancy, accountancy services) paid to**|(50)|-||
|**the independent examiner**||||
## 8. DETAILS OF CERTAIN TYPES OR EXPENDITURE
FEES FOR EXAMINATION OF THE ACCOUNTS
## OTHER PROFESSIONAL FEES
£497 was paid in respect of Legal advice regarding the CIO incorporation process and related matters.
## 9. STAFF COSTS
|||**This year**|**Last year**|
|---|---|---|---|
|||**£**|**£**|
|**Salaries and wages**||87,494|-|
|**Social security costs**||-|-|
|**Pension costs (defined contribution scheme)**||518||
|**Other employee benefits**||-|-|
||
**Total staff costs**|88,012|-|
No employees received employee benefits (excluding employer pensions costs) for the reporting period of more than £60,000.
There is one Pool Manager employed 52 weeks of the year. All other staff are employed by the Charity during the open season between April – October.
There was an average of 24 casual staff employed during the open season.
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PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 10. DEFINED CONTRIBUTION PENSION SCHEME
**This year Last year £ £ Amount of contributions recognised in the SOFA as an expense** 518 -
## 11. TANGIBLE FIXED ASSETS
||**Freehold land &**|**Plant, machinery and**|**Total**|
|---|---|---|---|
||**buildings**|**motor vehicles**||
||**£**|**£**|**£**|
|At the beginning of the year
|-|-|-|
|Additions as transfers||72,427|72,427|
|Revaluations
|363,762|-|363,762|
|Disposals
|-|-|-|
|At end of the year
|363,762|72,427|436,189|
|**Depreciation and impairments**||||
|**** Rate**||SL 10%||
|At beginning of the year
|-|-|-|
|Disposals
|-|-|-|
|Depreciation
|-|5,432|5,432|
|At end of the year
|-|5,432|5,432|
|**Net book value**||||
|Net book value at the
|-|-|-|
|beginning of the year||||
|Net book value at the end of
|363,762|66,995|430,757|
|the year||||
Fixed assets from the old charity 301917 were transferred 14 April 2022.
The Land and Buildings shown as a revalued asset were transferred to the new POASP charity under a formal transfer agreement.
PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
## 12. STOCK
22
|**Charitable activities:**
**_Opening_**
**_Added in period_**
**_Expensed in period_**
**_Impaired_**
**_Closing_**
**Total this year**
**_Total previous year_**|**For**
**distribution**
**For resale**
**£**
**£**
- -
- 2,511
-
(454)
- -
**- 2,057**
**Stock**|**For**
**distribution**
**For resale**
**£**
**£**
- -
- -
- -
- -
**- -**
**Donated goods**|
|---|---|---|
||- 2,057|- -|
||- -|- -|
Stock held relates to pool chemicals, cleaning products, hygiene consumables, refreshment products and pool retail products.
## 13. DEBTORS
|||**This year**|**Last year**||
|---|---|---|---|---|
|||**£**|**£**||
|**Trade debtors**||1,731||-|
|**Prepayments and accrued income**||374||-|
|**Other debtors**||-||-|
||
**Total**|2,105||-|
## 14. CREDITORS AND ACCRUALS
||**Amounts falling due within**|**Amounts falling due within**|**Amounts falling due after**|**Amounts falling due after**|
|---|---|---|---|---|
||**one**|**year**|**more than**|**one year**|
||**This year**|**Last year**|**This year**|**Last year**|
||**£**|**£**|**£**|**£**|
|**Bank loans and overdrafts**|7,275|-|24,476|-|
|**Trade creditors**|824|-|-|-|
|**Accruals and deferred income**|2,517|-|-|-|
||**Total** 10,616|-|24,476|-|
## PETERSFIELD OPEN AIR SWIMMING POOL
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2022 CONTINUED
The bank loan reported is a Covid Bounce Back Loan of £40,000 originally taken by the former charity in the year to 31 December 2021 and it is being repaid over a maximum
23
term of 6 years with an interest rate of 2.5% arising. The trustees continue to review the option to repay the loan balance in part or in full before the end date of the loan agreement.
## 15. COMMITMENTS
There are no other outstanding commitments at the year end, or contingent assets or liabilities.
## 16. CASH IN BANK
|**Cash at bank and on hand**
**Total**|**This year**
**Last year**
**£**
**£**
216,281
-|
|---|---|
||216,281
-|
## 17. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES
None of the trustees have been paid any remuneration or received any other benefits from a relationship with the charity.
## 18. ADDITIONAL DISCLOSURES AND CHARITY FUNDS
||**Unrestricted**
**Funds**
**Endowment**
**Fund**
**Total**|
|---|---|
|**Tangible Fixed Assets**
**Land and Buildings**
**Current Assets**
**Current Liabilities**
**Long Term Liabilities**|66,995
66,995
363,762
363,762
220,443
220,443
(10,616)
(10,616)
(24,476)
(24,476)|
|**TOTAL**|**252,346**
**363,762**
**616,108**|
## 19. TAXATION NOTE
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
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