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2025-05-31-accounts

Shoalstone Seawater Pool

Annual Report and Unaudited Financial Statements

For the Year Ended 31 May 2025

Charity Registered in England and Wales Number: 1195879

Shoalstone Seawater Pool Contents For the Year Ended 31 May 2025

Page
Reference and Administrative Details 1
Trustees’ Report 2 – 8
Independent Examiner’s Report to the Trustees 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to Financial Statements 12 – 21

Shoalstone Seawater Pool Reference and Administrative Details For the Year Ended 31 May 2025

Trustees D Cooper
S Cracknell
M Furness
A Heard
R Manley
A Plowman
L Ross
J Stock
Charity Number 1195879
Principal Address and Registered Office Shoalstone Seawater Pool
Berry Head Road
Brixham
TQ5 9FT
Independent Examiner Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP
Goodwood House,
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

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Page 1

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

The Trustees’ present their report and accounts for the year ended 31 May 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law, and the requirements of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019).

STRUCTURE, GOVERNANCE, AND MANAGEMENT

Governing document

Shoalstone Seawater Pool CIO is a Charitable Incorporated Organisation with voting members other than its charity trustees, governed by its Constitution, which was registered with the Charity Commission on 21 September 2021.

As of 31 May 2025, it has 36 members.

Trustees are currently recruited by advertisement or nomination. Following the Constitution:

(1) At the first annual general meeting of the members of the CIO, all the charity trustees shall retire[d] from office;

(2) At every subsequent annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office, but if there is only one charity trustee, he or she shall retire.

(3) The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot;

(4) The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (5) of this clause; (5) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15 (Retirement and removal of charity trustees), or as an additional charity trustee, provided that the limit specified in Clause 12(3) on the number of charity trustees would not as a result be exceeded;

(6) A person so appointed by the members of the CIO shall retire in accordance with the provisions of subclauses (2) and (3) of this clause. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting.. Brixham Town Council is entitled to appoint a trustee, who would stand for a period of one year.

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Page 2

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

The Charity is managed by its Board of Trustees, who meet bi-monthly. Working groups consisting of trustees and volunteers meet as and when needed, and focus on Operations, Finance, Funding, and Events and Activities, passing recommendations to the Board as necessary for decision-making.

The day-to-day running of the Shoalstone site is overseen by David Thomas, the full-time Pool Operations Manager, with support from Sean Castle, the part-time Caretaker. 8 seasonal lifeguards were recruited over the Summer of 2024.

The Pool could not operate without support from its volunteers, who provide hands-on support with pool cleans, maintenance, and event running and organisation. Currently, we have 64 registered volunteers.

The Trustees serving during the period and since the period end are as follows:

J Stock (Chair) S Bell (Resigned 12/11/2025) D Cooper S Cracknell (Appointed 03/02/2025) S Furminger (Resigned 12/11/2025) M Furness (Appointed 03/02/2025) D Gershinan (Resigned 07/11/2024) A Heard R Manley A Plowman L Ross (Appointed 03/02/2025) S Thompson (Resigned 07/11/2024) K Worts (Resigned 07/11/2024)

None of the trustees has any beneficial interest in the charity. All trustees are members of the charity.

Objectives and Activities

Summary of the purposes of the charity as set out in its governing document

To promote, for the benefit of the public, the provision of facilities for recreation or other leisure time occupation, and in particular facilities for participation in swimming and other similar sports, for the public at large in the interests of social welfare and with the object of improving their conditions of life.

Activities June 2024 to May 2025 Activities on and off-site have included: 2024 June 7th & 8th Trek 26 event for Alzheimer’s (Food stop on the green) 15th Swim the Bay Challenge 19th Quiz night at Brixham Yacht Club 28th Twilight Swim

July 6th Riviera Singers Concert at The Town Hall 17th & 18th Brixham College Pool Hire 23rd & 30th Missin’ Tackle sea shanty singalong under the old fish market

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Page 3

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

August

1st Punch & Judy on the Green Saturdays – Park Swim 10-11 am 6th Missin’ Tackle sea shanty singalong under the old fish market 11th Animal HQ on the Green 13th Missin’ Tackle sea shanty singalong under the old fish market 16th Twilight Swim 17th Chris Corbally Kid entertainer on the green

September 7th Wellness Day

October 1st Talk – Ladies Forum Sundays – Model Yacht Racing 27th Doggy Swim

November

Sundays – Model Yacht Racing

2025 February 13th Rockfish Supper

March

29th Timeline Mural Wall Presentation – The Spanish Barn

May 8th VE Day Celebrations 11th Wellness Day 22nd Arc Marine – Pool Hire 27th Talk – Brixham Library

Regular activities have included:

Tuesdays – Tai-Chi (May–September) Wednesdays – Yoga (May–September) Fridays – Mindfulness Walks (May–September) Lane Swimming (May–September)

Onsite operations improvements:

Wildflowering around greenspace Repainting of beach huts Whitewashing around the pool area pre-season Bench & shelter repairs and repaint Damaged railings replaced around pool area Concrete repairs to pathways and pool defence wall Update and refitting of sponsor boards in the car park

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Page 4

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

Achievements and Performance

Pool operations have continued as normal over the 2024 to 2025 period.

We have continued to provide free access for all to the pool, ensuring that the economically disadvantaged gain the health and social benefits of the pool community.

We have built on the weekly health and well-being activities, increasing the frequency of these events, starting with our well-being day in May. We were granted a Coop Community funds to widen the activities we provide and this allowed us to put on activities for the younger children, to encourage their use of the site. The Halogi Sauna and swim activities also proved very popular.

Having finalised our Government Community Ownership Fund application in April 2024, we heard that we were successful in our Save Shoalstone From the Waves bid in December 2024.

The grant awarded was made up of a £514,000 capital grant and £39,750 revenue grant, which on top of the £180,000 match funding raised gave a total project fund of £733,750. This great news meant we were able to go ahead with works to secure the pool future for many years to come. During Spring 2025 we appointed a Project Manager for these works, Sef Allali, who provided further information to COF to assure them that we were able to complete the project within a 12-month period. We finally signed the grant agreement in April 2025. A project group was formed to oversee the works, consisting of the Pool Operations Manager, a volunteer with engineering/planning experience and 3 trustees. The design stage of the project then started in earnest, with full designs being drawn up, further engineering surveys commissioned, final tender documents issued and planning applications submitted.

In partnership with Brixham Heritage Museum we were successful in our application for a Torbay Local Heritage grant of around £6,500 to carry out the erection of 6 display boards at Shoalstone Pool telling stories of bygone ages, starting with the pre-history age through to modern day Brixham, working with the local community on their content and design.

Once the Museum had produced the text and the printers had produced proofs of the boards, we held various meetings of the steering group to review the content and style of the panels. We held a further meeting with the Brixham Sea Rangers, SRS Churchill, who provided input on the style and content of the boards from the perspective of young people aged 9 to 18 years. The wall at the pool on which the boards were to be sited was cleaned and repairs made prior to a new mural being painted by a local artist Mark Bell. More recent photographs of Brixham scenes were provided by a local photographer, Chris Slack, who kindly agreed to our using the photographs free of charge. We liaised with Melanie Border, the English Riviera UNESCO Geopark Co-ordinator, in relation to the content of the boards that concerned Brixham’s place

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Page 5

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

within the English Riviera Geopark. At the opening event on 29th March the Mayor of Torbay gave a speech and declared the project launched.

Kiosk and Restaurant Tenancy Agreements

Having signed the 30-year lease with Brixham Town Council in May 2023, we continued with the necessary legal changes to negotiate direct leases between our CIO and the Kiosk and Restaurant Tenants. An independent rent assessment was commissioned and negotiations started to draw up new leases for both of these properties.

Discharging of Planning Conditions for Beach Hut Village

We continued to work to discharge the planning conditions imposed by Torbay Planning Committee for our beach hut village. This important project looks to increase revenue for the pool site.

The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit.

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Page 6

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

FINANCIAL REVIEW

Income for the year was £305,421 (2024: £232,638), of which £175,539 (2024: £71,556) was restricted. Against this, funds of £122,255 (2024: £161,342) were spent, £8,052 (2024: £31,387) of which was spent on restricted projects.

The net surplus for the year was therefore £183,166 (2024: £71,296), which is comprised of a restricted fund surplus of £101,254 and an unrestricted fund surplus of £81,912 (2024: restricted fund surplus of £40,169 and unrestricted fund surplus of £31,127), leaving reserves carried forward as at 31 March 2025 of £336,691 (2024: £153,435), of which £180,015 was restricted (2024: £78,761).

Reserves policy

Trustees believe it is prudent to have unrestricted reserves amounting to a sum sufficient to cover salaries and running costs for 2 months of peak summer expenditures in case of a significant drop in funding. This would equate to approximately £36,000.

Total reserves on 31 March 2025 totalled £336,691 (2024: £153,525), of which £180,01 (2024: £78,762) was restricted. The unrestricted reserves were £156,676 (2024: £74,763). The charity is comfortably over its reserves policy; however, the Trustees also recognise the need to build up free reserves to meet the capital requirements of the pool and to fund improvements and expansion of the facility.

Separate earmarked reserve funds will be set up as needed for specific projects but will not be reported separately. Trustees regularly monitor the amount of money held in the accounts of Shoalstone Seawater Pool CIO to ensure there is sufficient money to cover reserves as defined above.

Any expenditure of the reserve funds must be approved by the Board of Trustees, and the nature and reason for the expenditure fully documented.

FUTURE PLANS

We plan to complete the Shoalstone Pool Structural Repair Project by December 2025 and continue fundraising to initiate the next phase of works, to grout the outer NW buttress, retank the pool, repair the ramp, and build the paddling pool.

Further works will be undertaken, including the building of the Beach Hut Village, so that it is up and running by May 2026.

Finalise the leases for the Kiosk and Restaurant, and look into initiating various swimming well-being activities on the pool site.

Lastly, to put together a programme of events for the Pool Centenary in 2026.

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Page 7

Shoalstone Seawater Pool Trustees’ Report For the Year Ended 31 May 2025

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on …………………………..

…………………………. J Stock Chair …………………………. A Heard Trustee

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Page 8

Shoalstone Seawater Pool Independent Examiner’s Report to the Trustees For the Year Ended 31 May 2025

Independent examiners report to the Trustees of Shoalstone Seawater Pool.

I report to the trustees on my examination of the accounts for Shoalstone Seawater Pool (“the charity”) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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 because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not comply with these records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………. Michelle Ferris BSc (Hons) FCA DChA Goodwood House for and on behalf of Blackbrook Park Avenue Albert Goodman LLP Taunton Chartered Accountants Somerset TA1 2PX

Date:12 January 2026

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Page 9

Shoalstone Seawater Pool Statement of Financial Activities For the Year Ended 31 May 2025

----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2025 tricted tricted 2024
Note £ £ £ £ £ £
Income:
Donations, grants and legacies 2 40,035 175,539 215,574 30,022 71,556 101,578
Other trading activities 3 88,270 - 88,270 130,861 - 130,861
Investment income 5 1,576 - 1,576 199 - 199
Total income 129,882 175,539 305,421 161,082 71,556 232,638
Expenditure:
Charitable activities 4 114,203 8,052 122,255 129,955 31,387 161,342
Total expenditure 114,203 8,052 122,255 129,955 31,387 161,342
Net income/(expenditure)
before transfers 15,679 167,487 183,166 31,127 40,169 71,296
Transfers between funds 12 66,233 (66,233) - - - -
Net movement in funds 81,912 101,254 183,166 31,127 40,169 71,296
Reconciliation of funds
Total funds brought forward 12 74,764 78,761 153,525 43,637 38,592 82,229
Total funds carried forward 156,676 180,015 336,691 74,764 78,761 153,525
----- End of picture text -----

The statement of financial activities has been prepared on the basis that all operations are continuing operations.

There were no gains or losses arising in the period that are not shown above.

The statement of financial activities incorporates the income and expenditure account.

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Page 10

Shoalstone Seawater Pool Balance Sheet As at 31 May 2025

----- Start of picture text -----
2025 2024
£ £
Note
Fixed assets
Tangible fixed assets 8 67,339 1,000
Current assets
Debtors 10 87,768 56,563
Cash at bank and in hand 212,290 107,678
300,058 164,241
Liabilities
Creditors falling due within one year 11 (30,706) (11,716)
Net current assets 269,352 152,525
Total net assets 336,691 153,525
The funds of the charity:
Restricted funds 12 180,015 78,762
Unrestricted funds 156,676 74,763
Total charity funds 336,691 153,525
----- End of picture text -----

The financial statements were approved by the Board of Trustees on …………………. and signed on their behalf by:

…………………………. J Stock Chair …………………………. A Heard Trustee

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Page 11

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

1 Accounting policies

The principle accounting policies adopted in the preparation of the financial statements are:

1.1 Basis of accounting

The financial statements have been prepared in £ sterling on the historical cost basis and 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 (FRS 102) (effective 1 January 2019) – (Charities SORP FRS 102).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2

Going concern

There are no material uncertainties about the charity’s ability to continue. The charity prepares budgets and forecasts for revenue income and expenditure, and a capital budget for the pool repair works being undertaken. These budgets and forecasts (which are monitored and reported against regularly) do not show any signs of concern, which is in line with the trustees' expectations and supports the conclusion.

1.3 Income

Income from donations is recognised on a cash basis, in the year the income is physically received, except when the donors specify that they must be used in future accounting periods or donor conditions have not been fulfilled, then the income is deferred.

Bequests and legacies are included when entitlement is established, it is probable that the amount will be received, and the amount receivable can be estimated with sufficient accuracy.

Income from grants is recognised in the year in which they are receivable. Grants without performance conditions are presented within donations and legacies and within charitable activities when performance criteria apply.

Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to the grant income they are recognised within donations and legacies and where conditions relating to performance of services are attached, grant income is recognised in income from charitable activities within the Statement of Financial Activities.

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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Page 12

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

1.4 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

During the year, the charity refocused activities into 3 key projects. Accordingly, the support cost allocation has been updated to reflect these projects, with the split based on an estimation of the use of the resources of the charity across the projects.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Fixtures & Fittings 20% straight line Plant & Machinery 20% straight line Swimming pool restoration 2% straight line

Swimming pool restoration is to be depreciated on a straight line basis over the next 50 years upon completion. No depreciation will be charged until this point.

Tangible fixed assets for use by the charity are capitalised where the cost is greater than or equal to £50.

1.6 Debtors

Trade debtors and accrued income are recognised at the settlement amount due after any trade discount offered and any impairment necessary. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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Page 13

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

1.9 Fund accounting

Funds held by the charitable company are one of the following types:-

1.10 Pension

The Charity operates a defined contribution pension scheme. Contributions are expensed as they become payable.

1.11 Foreign currencies

Foreign currency transactions are initially recorded in the functional currency by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

1.12 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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Page 14

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

2
Donations and legacies
Unrest-
ricted
£		 Restrict-
ed
£		 Total
2025
£		 Unrest-
ricted
£		 Restrict-
Total
ed
2024
£
£
Donations
Legacies
Grants		 23,785
16,250
-		 166,564
-
8,975		 190,349
16,250
8,975		 30,022
-
-		 61,835
91,857
-
-
9,721
9,721
71,556
101,578
40,035 175,539 215,574 30,022

3 Other trading activities

----- Start of picture text -----
Unrest- Restrict- Total Unrest- Restrict- Total
ricted ed 2025 ricted ed 2024
£ £ £ £ £ £
- -
Advertising and marketing 10,054 10,054 10,477 10,477
Events 6,010 - 6,010 10,636 - 10,636
- -
Carparking income 39,979 39,979 39,200 39,200
Rental income 29,345 - 29,345 68,302 - 68,302
Furniture / locker hire 1,400 - 1,400 1,470 - 1,470
Miscellaneous 1,483 - 1,483 757 - 757
Deposit income - - - 20 - 20
- -
88,270 88,270 130,861 130,861
----- End of picture text -----

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Page 15

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

4 Expenditure on charitable activities

General
Wages & salaries
Staff training
Insurance
Consulting
Cleaning
IT software and consumables
Repairs & maintenance
Water charges
Accountancy fees
Legal expenses
Rent and rates
Bank fees
Miscellaneous expenses
Deposits repaid
Depreciation
Interest expense
Corporation tax		 Unrest-
ricted
£
5,433
62,702
300
10,594
1,319
7,216
947
4,177
4,995
4,011
1,245
429
464
1,807
-
276
7
8,281		 Restrict-
ed
£
980
600
-
-
2,000
555
1,632
-
-
-
-
-
2,214
-
71
-
-		 Total
2025
£
6,413
63,302
300
10,594
3,319
7,216
1,502
5,810
4,995
4,011
1,245
429
464
4,021
-
347
7
8,281		 Unrest-
ricted
£
7,559
68,459
382
12,984
-
6,914
654
9,926
1,523
3,270
2,280
450
458
1,471
120
203
-
13,301		 Restrict-
Total
ed
2024
£
£
-
7,559
599
69,058
150
532
-
12,984
26,679
26,679
-
6,914
1,822
2,476
1,690
11,616
-
1,523
-
3,270
-
2,280
-
450
-
458
376
1,847
-
120
71
274
-
-
-
13,301
31,387
161,342
114,203 8,052 122,255 129,955

5 Investment income

----- Start of picture text -----
Unrest- Restrict- Total Unrest- Restrict- Total
ricted ed 2025 ricted ed 2024
£ £ £ £ £ £
Bank interest 1,576 - 1,576 199 - 199
----- End of picture text -----

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Page 16

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 March 2025

6 Net incoming resources before transfers

----- Start of picture text -----
2025 2024
£ £
Net incoming resources for the period are stated after charging
Depreciation 347 274
Independent examiners’ remuneration:
Independent examiners fee 1,200 1,200
Other services 2,811 2,070
----- End of picture text -----

7 Employee costs

----- Start of picture text -----
2025 2024
£ £
Wages and salaries 62,484 68,152
Pension costs 817 906
63,302 69,058
----- End of picture text -----

The average monthly headcount was 5 staff (2024: 5 staff).

No employee received remuneration of more than £60,000 in the period (2024: none).

Key management personnel

The key management personnel of the charity are considered to be the trustees. The trustees are unpaid and therefore there is no key management personnel remuneration to be disclosed (2024: none).

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension costs charge for the year represents contributions payable by the company to the scheme. Contributions totalling £0 (2024: £0) were payable to the scheme at the end of the year and are included in creditors.

Trustee remuneration and expenses

No remuneration, expenses or other benefits from the charity were received by any trustees during the year (2024: none).

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Page 17

Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

8 Tangible fixed assets

Plant &
Machinery
£
Cost
At 01 June 2024
800
Additions
-
At 31 May 2025
800
Depreciation
At 01 June 2024
271
Charge for the year
160
At 31 May 2025
431
Net book value
At 31 May 2025
369
At 01 June 2024
529
10
Debtors
Trade debtors
Other debtors
Prepayments and accrued income
11
Creditors: Amounts falling due within one year
Trade creditors
Accruals and deferred income
Other creditors		 Fixtures &
Fittings
£
615
452
1,066
143
187
330
736
471		 Swimming pool
restoration
£
-
66,233
66,233
-
-		 Swimming pool
restoration
£
-
66,233
66,233
-
-		 Total
£
1,415
66,685
68,099
414
347
-
66,233
-
2025
£
26,881
224
60,662
87,768		 761
67,339
1,000
2025
£
26,881
224
60,662
87,768		 2024
£
35,180
112
21,271
56,563
2024
£
2,415
8,107
1,194
2025
£
17,446
11,941
1,319
30,706 11,716

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Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

12 Summary of movement in funds

----- Start of picture text -----
Opening Closing
Balance Transfers & Balance
1 June 2024 Income Expenditure gains/(losses) 31 May 2025
£ £ £ £ £
Restricted funds
Save Shoalstone From The Waves 72,597 166,564 - (66,233) 172,928
-
TBC Local Heritage Grant Scheme 1,151 6,680 (6,630) 1,201
- -
Co-Op 2022-23 2,913 (868) 2,045
- -
Co-Op 2023-24 1,289 2,295 3,584
Heritage Compass 483 - (483) - -
TCDT 329 - (71) - 258
Total restricted funds 78,762 175,539 (8,052) (66,233) 180,015
Unrestricted funds
General fund 74,763 129,882 (114,203) 66,233 156,676
Total unrestricted funds 74,763 129,882 (114,203) 66,233 156,676
Total funds 153,525 305,421 (122,255) - 336,691
----- End of picture text -----

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Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

Summary of movement in funds- 2024

Opening
Balance
1 June 2023
£		 Income
£		 Expenditure
£		 Closing
Transfers &
Balance
gains/(losses) 31 May 2024
£
£
Restricted funds
Save Shoalstone From The Waves
TBC Local Heritage Grant Scheme
Active Devon Consortium		 37,441
1,151
-		 61,835
-
900		 (26,679)
-
(900)		 -
72,597
-
1,151
-
-
BCOC
Co-Op 2022-23
Co-Op 2023-24
Heritage Compass
TCDT		 -
-
-
-
-		 1,765
3,063
1,289
2,304
400		 (1,765)
(150)
-
(1,821)
(71)		 -
-
-
2,913
-
1,289
-
483
-
329
Total restricted funds
Unrestricted funds
38,592 71,556 (31,386) -
78,762
General fund 3,468 232,638 (161,342) -
74,763
Total unrestricted funds 3,468 232,638 (161,342) -
74,763
Total funds 42,060 304,194 (192,728) -
153,525

General funds represent unrestricted funds.

Restricted funds comprise monies donated for a specific project or purpose and represent monies received for:

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Shoalstone Seawater Pool Notes to the Financial Statements For the Year Ended 31 May 2025

13 Analysis of assets between funds

----- Start of picture text -----
Total
Unrestricted Restricted funds
funds funds 2025
£ £ £
-
Tangible assets 67,339 67,339
Current assets 120,043 180,015 300,058
Current liabilities (30,706) - (30,706)
156,676 180,015 336,691
----- End of picture text -----

Analysis of assets between funds- 2024

Unrestricted Total
Restricted
funds
Tangible assets
Current assets
Current liabilities		 funds
£
1,000
85,479
(11,716)
74,763		 funds
2024
£
£
-
1,000
78,762
164,241
-
(11,716)
78,762
153,525

14 Related party transactions

During the year, there were no Trustee donations (2024: none) to the charity, with no restrictions or conditions imposed.

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