## PETERSFIELD OPEN AIR ## SWIMMING POOL Report and Financial Statements ## For The Year To 31[st] December 2023 ## Charity number 1195755 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 YEAR TO 31 DECEMBER 2023 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 Effective 01 Jan 2022 * --
Vaughan Clarke Effective 01 Jan 2022 * --
Jonathan Daley Effective 01 Jan 2022 * 12 Sept 2023
Andrew Elder 08 Nov 2022 --
Rupert Kirby 14 Nov 2023
Paul Milner 14 June 2022 --
[Chair]
David Robbins Effective 01 Jan 2022 * --
Elizabeth Pillans 11 Mar 2023
Sheila Spence Effective 01 Jan 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** Pool Manager Tom Callingham Treasurer Patsy Fernandez 3 ## **Petersfield Open Air Swimming Pool** ## **Report of the trustees for the year to 31 December 2023** The trustees are pleased to present their annual report together with the financial statements of the charity and for the period ending 31 December 2023. This being the second 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** In 2023 we saw a couple of changes to the trustee team. Firstly, we said farewell to Johnathan Daley after over 10 years. Secondly, after over a decade of leadership, Linda Knutsen, stepped down as Chair of the trustee’s to be replaced by myself. Fortunately, Linda still wishes to remain as a trustee and we are delighted to still have her knowledge and experience with us. Our sincere thanks to both for their long service. 2023 started promisingly in May and June, weather wise, but disappointingly changed to a prolonged colder, overcast and wet period through July, and early August. This impacted sales negatively at the height of our peak season, particularly discouraging family groups from regular visiting to us. This aside, the staff, management team and trustees have been busy in trying to improve the pool experience and exploring new ways to boost income. We invested in marketing this year, generating good results in social media interest with evidence that a lot of new people came to the pool for the first time. Marketing has also been an asset to our fundraising activities of Buy-a-brick and Pool Lottery. It was also noticeable at our increased number of Twilight swims that were frequent sell-outs. Our Pool Manager, Tom Callaghan also worked very hard and I’d single out his efforts with the BBQ for bringing in a strong revenue contribution as a result. Overall, the pool trialled a lot of new ideas this season – including – Naturist Swims! – with the net result the season was a positive one despite the dire summer weather. The new booking system has now bedded in and although it comes with a small cost to us all when visiting the pool, the upsides are significant in reducing the complaints from customers turning up and having to wait long periods in a queue. I’m convinced the Bookedit system adds positively to the bottom line as a result and something the vast majority of our customers prefer us to have. The out of season work has been equally impressive from the trustees and management team. The focus to seek grant funding for facility improvements has been particularly successful with various awards received and pending. The first success was for around £5K towards a new pool cover, but more impressively was a successful £50K capital grant from the South Downs National Park CIL Fund towards our toilet refurbishment project. This along with a generous donation of ceramic sanitaryware and tiles from the local firm RAK Ceramics to the value of £7,747 and £1,000 from Horne Engineering will mean that we start the 2024 season with new amenities. Revenue contributions from Hampshire and EHDC Councillors and Petersfield Town Council have also be used for this key project and we are very grateful for this significant community support to our charity. The stability of our financial position arising has enabled us to pay back the full balance of the Government Bounce-back-loan, taken out during the covid period, whilst still maintaining our balance of reserves in accordance with the adopted policy. 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. **Paul Milner - Chair of the Trustees** 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 felt distant memories in 2023 with the season starting and finishing strongly in June and September but dipping in July and August with a typically British grey and damp summer. Whilst the weather set the trend for the season a number of new initiatives and events including the booking system, evening social swims and BBQ catering helped to negate the grey skies and maintain customer and swimmer activities. To illustrate this aspect of the trading period the following graph illustrates the impact of the weather on our swimming ticket sales during the June and July 2023 period. Other notable points included: - Strong staff moral and efficiency across the season with a customer care focus - Five local community schools scheduled group swimming lessons with approximately 365 pupils receiving lessons. A further 178 individual children received individual lessons across several types of lesson format. - Over the whole season approximately 19,250 (2022-21,700) swimming sessions were registered - - Refreshment income at the Dive Thru Café’ was £31,263 representing sales growth of 32% - Our website petersfieldpool.org and social media profile was progressively improved to provide added functionality and customer information along with booking system links 5 The pool was again pictorially represented in the local and national press and heavily on social media with some of these pictures and promotional postings featured below. 6 The Big Ladder Photographer www.bigladder.co.uk 7 ## **Financial Review** This report covers the second year of trading for POASP as a CIO with a calendar year financial period such that comparative figures are able to be presented. Given the trading performance of the charity the following observations have been noted and discussed by the Trustees. ## **a. Trading Results and Budget** The overall revenue surplus of £17,610 (7.2% of Trading Income) was in line with the budget set albeit largely derived through increased net income across the various headings reported. The table below compares trading income year on year and illustrates this position with stable share ratios. Whilst overall expenditure (unrestricted) also increased; by £63,341 including staffing costs (note d) this was essentially managed re marketing, the booking system, depreciation/loss on sale and maintenance all of which facilitated the growth in income. ## **b. Sensitivity of Trading Performance** The sensitivity of swimming activity and thus the trading performance to weather conditions and its seasonal profile are factors that the Trustees routinely monitor and the 2023 income profile was markedly varied with sunny peaks in June and September and damp low levels in the school holiday periods of July and August. The new booking system enabled real time tracking of this and helped to prompt the introduction of new and varied events and activities to try and boost and sustain the summer income levels. Despite the weather the surplus arising was satisfactory. ## **c. Other Income** £72,219 of Other Income is reported and this pie chart illustrates the respective sources and includes the full amount of the South Downs CIL Fund Grant i.e. £50,000 with the refurbishment project expenditure being incurred over the Oct 23 to March 24 period. Given the sensitivity of core trading performance it is recognised that growth in the above headings will further help to fund site and facility improvements and to secure the reserve funding policy position. 8 ## **d. Staff Costs** Total staff costs of £106,707 (£87,494) are reported representing 43% of total unrestricted expenditure and included those for a senior Deputy Pool Manager and a seasonal bonus to the staff team of 7%. 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 £198,731 is reported comprising two separate current accounts and a savings account which are used for operational and fundraising purposes. Note 15 to the accounts covers the position of the Covid Bounce Back Loan which was repaid in full during the year. Interest earning accounts are being evaluated given the 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. 2024 Season Planning Budget** A prudent revenue budget for 2024 has been set with an objective of breaking even which is accepted as justified for specific operational; purposes re staffing needs despite being below the target of a 10% net surplus to total income ratio. It is also noted that in the current economic climate cost sensitivities of operational, maintenance and utility expenditure in addition to the need for an efficient season timetable are all key to the setting of ticket and session prices. ## **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 has been revised to £140,000 and this is monitored and reviewed by the trustees on a regular basis. ## **Plans for the Future** The Trustees have been working on a new Business Development Plan for the pool with a 5 year focus i.e. 2024 – 2029 and reference to the long-term position arising from an internal SWOT analysis, customer feedback and comparative/marketplace analysis. The emerging elements of the plan which is due to be completed in Spring 24 with an action plan to highlight the delivery objectives are as follows: The business plan is an action-oriented document which documents the trustees’ assessment of the current and future business environment, the desired state for the business at the end of the 5 years. It lays down the direction, goals and actions needed in the coming 5 years, broken down year by year to achieve that desired state. It has three overarching themes comprising 1. Health and Wellbeing 2. Sustainability 3. Tourism 9 ## **Action Plan Priorities** ## **Short Term** Develop the pool timetable to meet the themes of the plan including swimming activities aimed at children with physical & social needs, those who have stopped swimming and cold-water swimming generally Attract more mature age lifeguards for shoulder season periods to be extended Actively explore more energy efficiency measures and improvements Develop and improve all aspects of the booking system in use Complete the current refurbishment of Toilet Facilities and claim all related grant monies Formalise a Trustee Succession Plan Implement and monitor the new Sustainability Policy ## **Medium Term** Develop a 10 year maintenance & improvement plan with linked financial forecast Develop a marketing strategy to improve awareness and visitor numbers Continue to refurbish the Site Facilities as the budget and grant funding allows ## **Long Term** 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 ## **Structure, Governance and Management** ## **Governing Document and Organisation** 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 ￿lch comwises: an annual review of the risks the tharty; the establishment of systems and ￿￿edureS to mits9ate those risks identified in the plan.. and the implementstion of pro¢edures designed to minimise any I￿ntial impact on the charty should thr￿e risks materialise. This work has identified that financial sustainabilty is ts major long term financial risk for the charity. A key element in the managemerrt of financial risk is via a regular review of the resep4es policy. Trustsa8' rnsponslbllltles In relatlon to the financlal statom• The charity tnjstees are respoMiL* for weparing a trustees. annual report arKI financial ststements in accordan￿ applicat4e I￿¥ and United Kingdom Accounting Starmlards (United Kingdom Generally Accepted Accounting Practice). Company law and ￿ law applicable to charities in England arml Wales requires the tharity trustees to prepare financial statements for eath year which glve a true and fair view of the state of affairs of the charitable company and the group and of the incoming r8sources and application of resources. including the income and expenditure. of the charitalje group that period. In preparing the financial statements, the trustees are required to: select surtable accounting policies aTrl then ath them consistenty, observe the methods and principles in the Charitses SORP" make judgements and estimates that are r&gsorBble and FwtKlent state whether apF4icable accounting starKlards have been followed, subie¢X to any material departures disclosed and exF4ained in the financial statements.. prepare the financial statements on the goir¥J concem basis unless it is inapFYopriate to presume that the charity will contiThJe in lyJsiness. The trustees are responsible for keeping proper accounlirvJ records that disdose with reasonable accuracy at any time the financlal posibon ol the dwity and to 8nabl8 tham to 8nsur8 that the financial ststements (X)rn￿ with the Companies A(1 1985, the Charities Act 1993. the Charity {Accounts and Reports) Regulations 2008 and provisions of the trust deed. They are also responsible for safeguarding the assets of the charty and hence taking reasonable steps for the prevention and detection of fraLKI and othw itregidar￿eS. mil￿6r Chalr of the Trust•O8 14 May 2024 11 PF.TF.IiSFIF.T.D OPF.N AIR SWII¥IMINI G P(X)l. INbv.pTr:lii)V.NT Tr.XAThIINF.K'% KF.V(bKTTVTHTr: T1(lI￿￿:￿.. CIN "I"HE ALC'OLNTS FOR THE YEAR ENDED 31 DEC"E.MBER 2•23 J rrwrt lu ll￿. truslccs OD oxa]D]￿lI0ll of Ib¢ vfprknsfJ¢ld Oprn Air SwTrrnmin8 Pwl for thc vcar cndcd J l Dcccmt￿r ?0?3. ResponsiTrllities and Basis of Report A% die inL￿et4 of C'.hariry >'ou are resporL£ible for the prqjjration of acrouDts i LuThLLnLe v4.ith the C"htsvitse4 Act ?01 l Aci->. I rqM)rl in rLwYI ufmy cxaMi￿lIvD vfilK" ChJTilY's 1￿CoUnl8 carried ()ut under f*etion 145 ol"Ihe ?111 l urnl in ¢arrJ'in8 out my e￿￿nin0t￿nn I have followd thc applicablc DizccliLHts givLTb) th ch￿IlY uD(kr >¢divn 145{5)b of ihe ?01 l A J have complcknl m). thNI Th) m41LTiJI ha&e cTrme Tts m). Il¢nlivn in uiDneclion with dxaminauon giN'ing mc cew io klicfvc thui iu anv l AU4)unIsl￿ ft£vnts" M'efe t￿1 ke￿ in of Llwity as rcquit(yJ b). s￿li0n l iQ vfthe A¢or ? thL" kU<)unLN d¢1 TMII accimj with thlxse rtord*: or 3.the ￿Counts do not compl) Mryth th¢ applicablc rrquirrrnmL4 ¢￿￿1m1 thr lorm alnd LI)n￿ni I)rs￿l)UnL5 *1 i)ui in the 11)ariiies IAccnunLS and RcwrLS) Rcguldlio]]5 ?008 oih¢r Ih¥n ¥n} T¥qLiiTLThenl Iliul JLU?unl% aThl talt vleTh-- wthtch 15 JYA a nmtier considcrcd pan O[L￿ ITh1q￿LdClli LThaM1￿tIOTr I b#N'¢ ¢unLerns h:i%c iom¢ ¢iLrvs5 Iiity Iiikr Til42iiers in cnnThtctrnn thc cxami¥ffjion to M'hi¢h ati¢nii4)n should ￿ dr#*D in thib t¥porl in urd¢r i(Tr enahle a proFr und¥Yy14UXting vl"Ih¢ ￿LI)unl￿ tsi k re￿he G R Bccr (Cantab) FCA (".hanered Ac£1}un￿nt 4.c.hi1¥￿Tr￿ I Mar&n Wa) l>rtcr5fldd HarnpshirL GLfJ l 4PU 14th Mav 20?4 ## PETERSFIELD OPEN AIR SWIMMING POOL ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **FOR THE YEAR TO 31 DECEMBER 2023** 13 PEfERSFIEU) OPEN AIR SWIMMING PQX BALANCE SHEET AS AT 31 DECEMBER 2023 RestrKied iknresimed Endo￿nert Tot•1 this lunds year Tot•1 losl year Fixed a$$ets Tangible a$8e 62. 3.162 3.7 426.130 ' 426.730 430.757 430.757 YO￿ fix•dass•ts Current assets Stixks Debiors Cash ai ban% and In hand Total turF*nl asS•ts 1.439 1.439 2.057 2.105 216.281 220.443 2T.T36 198.131 228.530 198.T31 256.256 27.726 Cr•drtors: amwnts f•lling *ithin one year 21.542 21.542 10.616 Ilei cuff•ffl assers 27.726 234.714 209.827 Credirors: amounrs falling due after one yeai 24.476 Total net assets 269.956 27.726 363.762 661.444 616.10B Funds of the Charity Endowmeni lunth 363.T62 3.762 27.726 269.956 363,7 Resiricied funds 27.126 Unresiiicied funds 269.956 ?52.346 Total funds £ 269.956 f 37.126 £ 363.762 £ 661.444 616.108 The charity was entitled to eXem￿lOn audit under s477 of the Companies Act 2006 relating to small cornpanies. The trustees have not required the company to obtain an aLMdit in aCCord￿ce section 476 of the Companies Ad 20L￿. The trustees a¢knrnvJedge their resp<>nsiblrty lor complyry with the requirements of the Companies Act with respecl to accounting records arKI the preparation of a¢count$. These arxounts have been prepared in accordan￿ with the wovisions applicable to small companies sut4.ed to the small companies regime and in accordance with FRS102 SORP. Signed by D T Robbins oft behalf of all tn￿tee$. Date of approval . 14 May 2024 14 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** 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 FOR THE YEAR TO 31 DECEMBER 2023** ## 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 FOR THE YEAR TO 31 DECEMBER 2023** - 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 FOR THE YEAR TO 31 DECEMBER 2023** ## 3. INCOME 18 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** 4. ANALYSIS OF RECEIPTS OF GOVERNMENT GRANTS ## 5. DONATED GOODS, FACILITIES AND SERVICES The value of some generously donated goods for our toilet facility improvement project are not numerically included in these accounts but can be financially valued as follows: RAK Ceramics – Sanitaryware and tiles £ 7,747 Horne Engineering Ltd Showers – Disabled shower fittings £ 1,000 The trustees are extremely grateful for these donations together with the support provided at the beginning and end of the season and from time to time by a team of volunteers who support the operation and maintenance of the pool under direction of the trustees. 19 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** ## 6. EXPENDITURE 20 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** ## 7. EXTRAORDINARY ITEMS 8. DETAILS OF CERTAIN TYPES OR EXPENDITURE FEES FOR EXAMINATION OF THE ACCOUNTS ## OTHER PROFESSIONAL FEES No fees were paid during the year in respect of Legal advice for the charity. ## 9. STAFF COSTS 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 29 casual staff employed during the open season. 21 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** ## 10. DEFINED CONTRIBUTION PENSION SCHEME ## 11. TANGIBLE FIXED ASSETS Fixed assets from the former (pre incorporation charity no 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. 22 ## **PETERSFIELD OPEN AIR SWIMMING POOL** **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** ## 12. STOCK Stock held relates to pool chemicals, cleaning products, hygiene consumables, refreshment products and pool retail products. ## 13. DEBTORS ## 14. CREDITORS AND ACCRUALS 23 ## **PETERSFIELD OPEN AIR SWIMMING POOL** ## **NOTES TO THE ACCOUNTS FOR THE FOR THE YEAR TO 31 DECEMBER 2023** ## 15. BANK AND LOAN BALANCES The bank loan balance reported last year was a Covid Bounce Back Loan of £40,000 originally taken by the former charity in the year to 31 December 2021 and was being repaid over a maximum term of 6 years with an interest rate of 2.5% arising. The trustees agreed to repay the balance of the loan in full and this was completed in November 2023. ## 16. COMMITMENTS There are no other outstanding commitments or contingent assets or liabilities. at the year end other than those mentioned in note 4 regarding the current facility refurbishment project which are covered by the pending grant receipts from the South Downs Authority. ## 17. CASH IN BANK ## 18. 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. ## 19. ANALYSIS OF NET ASSETS ## 20. 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. 24