HATFIELD SWIM CLUB CIO
REGISTERED CHARITY NUMBER: 1197368
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
HATFIELD SWIM CLUB CIO
HATFIELD SWIM CLUB CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY ................................................................ 3 TRUSTEES' REPORT................................................................................................................................................. 4 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................................................. 5 BALANCE SHEET ....................................................................................................................................................... 6 NOTES TO THE FINANCIAL STATEMENTS ......................................................................................................... 7 DETAILED STATEMENT OF FINANCIAL ACTIVITIES ...................................................................................... 13
HATFIELD SWIM CLUB CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY
TRUSTEES
Ann Quinn (06/01/2022 – 28/09/2023) Clare Yeabsley (06/01/2022 – 30/10/2022) Glenn Jordan (06/01/2022 – 28/09/2023) Janko Gojkovic (06/01/2022 – 31/01/2023) Poornima Kirloskar-Saini (06/01/2022 – 06/01/2023) Belinda Ives (30/10/2022 – 06/01/2023)
Amanda Baskerville (since 28/09/2023) Annette Payne (since 28/09/2023) Duncan Hartley (since 28/09/2023) Jeannine Blight (since 28/09/2023) Keith Green (since 28/09/2023) Rebecca Hartley (since 28/09/2023) Janice Bridgeland (co-opted) (since 05/10/2023) Gavin Boswell (co-opted) (since 05/10/2023)
REGISTERED OFFICE
Hatfield Swim Centre Lemsford Road Hatfield Hertfordshire AL10 0EB
REGISTERED CHARITY NUMBER 1197368 Registered in England and Wales
BANKERS
Lloyds Bank PO BOX 1000, Andover, BX1 1LT
HATFIELD SWIM CLUB CIO
TRUSTEES' REPORT
Following its inception in January 2022, the CIO took most of the year to get organised and begin fundraising to support the Swimming Club. Therefore, the vast majority of financial activity of the Club was not via the CIO.
Future Plans
Future plans include:
-
strengthen governance, policies and procedures
-
grow membership
-
increase financial resilience
-
migrate all financial activity to the CIO - support coaching team to achieve high swimming performance
Financial position
In the inaugural year of the CIO, few activities were undertaken as it was in a set-up phase. Hence, there were minimal funds raised and spent on furthering the charity’s objectives.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Trustee’s responsibilities
The Trustees of the charity acknowledge their responsibility for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Hatfield Swim Club CIO and to take reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Trustees on 28th October 2023 and is signed on their behalf by
Duncan Hartley Amanda Baskerville Jeannine Blight Chair Secretary Treasurer Date: 28/10/2023
HATFIELD SWIM CLUB CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Total | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Funds | ||
| Notes | Funds | Funds | 2022 | |
| INCOME AND ENDOWMENTS FROM: | £ | £ | £ | |
| Charitable activities | ||||
| Swimming Club | 3 | 16,627 | - | 16,627 |
| Total | 16,627 | - | 16,627 | |
| EXPENDITURE ON: | ||||
| Charitable Activities | ||||
| Swimming Club | (11,064) | (11,064) | ||
| Bank charges | 4 | (21) | - | (21) |
| Total | (11,085) | (11,085) | ||
| NET INCOME/(EXPENDITURE) | 5,542 | - | 5,542 | |
| Transfers between funds | - | - | - | |
| Net movement of funds | 5,542 | - | 5,542 | |
| RECONCILIATION OF FUNDS | ||||
| TOTAL FUNDS CARRIED FORWARD | 5,542 | - | 5,542 |
HATFIELD SWIM CLUB CIO
| BALANCE SHEET | ||
|---|---|---|
| AS AT 31ST DECEMBER 2022 | ||
| FIXED ASSETS | ||
| Tangible assets | - | |
| CURRENT ASSETS | ||
| Cash at bank and in hand | 5,542 | |
| CREDITORS | ||
| Amounts falling due within one year | - | |
| NET CURRENT ASSETS | 5,542 | |
| TOTAL ASSETS LESS CURRENT | - | |
| LIABILITIES | ||
| NET ASSETS | - | |
| FUNDS | ||
| Unrestricted funds | 7 | 5,542 |
| Restricted funds | - | |
| TOTAL FUNDS | 5,542 |
HATFIELD SWIM CLUB CIO
NOTES TO THE FINANCIAL STATEMENTS
1. GENERAL INFORMATION
The charity is a charitable incorporated organisation (CIO).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
HATFIELD SWIM CLUB CIO
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3. INCOME FROM CHARITABLE ACTIVITIES
| £ | |
|---|---|
| Membership Fees | 12,627 |
| Grants | 4,000 |
| Grants received, included in the above, are as | |
| follows: | £ |
| Swim England Crowdfunding Grant | 4,000 |
4. SUPPORT COSTS
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Finance | Other | Governance | ||
| costs | Total | |||
| £ | £ | £ | £ | |
| Bank Charges | - | (21) | - | (21) |
5. TRUSTEES’ REMUNERATION AND BENEFITS
| Name of Trustee and Nature of Remuneration | Remuneration (£) |
|---|---|
| Janko Gojkovic, Provision of Swim Coaching Services | (4,931) |
Trustees' expenses There were no trustees' expenses paid for the period ended 31st December 2022.
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£ Trade debtors -
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
HATFIELD SWIM CLUB CIO
31.12.22 31.12.21 £ £ Accruals and deferred income - -
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 31.12.22 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| £ | £ | £ | |||
| Fixed Assets | - | - | - | ||
| Current Assets | 5,542 | - | 5,542 | ||
| Current Liabilities | - | - | - | ||
| Total | 5,542 | - | 5,542 | ||
| MOVEMENT IN FUNDS | |||||
| At 06.01.22 | Net | Transfers | At 31.12.22 | ||
| Movement | between | ||||
| in Funds | Funds | ||||
| £ | £ | £ | £ | ||
| Unrestricted Funds | |||||
| General Funds – all funds | - | 16,606 | - | 16,606 | |
| Restricted Funds | |||||
| ASA membership | - | - | - | - | |
| External gala events | - | - | - | - | |
| - | - | - | - | ||
| TOTAL FUNDS | - | 16,606 | - | 16,606 |
9. MOVEMENT IN FUNDS
HATFIELD SWIM CLUB CIO
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General Funds – all funds | 16,627 | (11,085) | 5,542 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31[st] December 2022
11. TANGIBLE FIXED ASSETS
Fixtures & Fittings £ COST - At 6th January 2022 DEPRECIATION - At 6th January 2022 - Charge for the year At 31[st] December 2022 - NET BOOK VALUE At 6[th] January 2022 -
HATFIELD SWIM CLUB CIO
At 31[st] December 2022
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
12. Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General Funds – all funds | - | - | - | |
| Restricted Funds | ||||
| ASA membership | - | - | - | |
| External gala events | - | - | - | |
| - | - | - | ||
| Total Funds | - | - | - | |
| Comparatives for movement in funds | ||||
| At 06.01.22 | Net | Transfers | At | |
| Movement | between | 31.12.22 | ||
| in Funds | Funds | |||
| £ | £ | £ | £ | |
| Unrestricted Funds | ||||
| General Funds – all funds | - | - | - | - |
| Restricted Funds | ||||
| ASA membership | - | - | - | - |
| External gala events | - | - | - | - |
HATFIELD SWIM CLUB CIO
| - | - | - | - | |
|---|---|---|---|---|
| Total Funds | - | - | - | - |
| DEFERRED INCOME | ||||
| 31.12.22 | 31.12.21 | |||
| £ | £ | |||
| Deferred income at 6thJanuary 2022 | - | - | ||
| Resources deferred during the year | - | - | ||
| Amounts released from previous periods | - | - | ||
| - | - |
13. DEFERRED INCOME
HATFIELD SWIM CLUB CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| 31.12.22 | 31.12.21 | |
|---|---|---|
| INCOME AND ENDOWMENTS | £ | £ |
| Donations and legacies | ||
| Donations | - | - |
| Other trading activities | ||
| Fundraising events | - | - |
| Investment income | ||
| Deposit account interest | - | - |
| Charitable activities | ||
| Training Fees | - | - |
| Membership Fees | 12,627 | - |
| ASA Membership Fees | - | - |
| Other income | - | - |
| Grants | 4000- | - |
| Open Meet Income | - | - |
| External Gala Entry | - | - |
| Event Income | - | - |
| - | - | |
| Total incoming resources | 16,627- | - |
| EXPENDITURE | ||
| Charitable activities | ||
| Coaches fees | 11,064- | - |
HATFIELD SWIM CLUB CIO
| Pool Hire | - | - |
|---|---|---|
| Gala Entry Fees | - | - |
| ASA membership fees | - | - |
| Lifeguard costs | - | - |
| Equipment | - | - |
| Event travel | - | - |
| Other travel and regional costs | - | - |
| Open meets | - | - |
| Other costs | - | - |
| Fixtures and fittings | - | - |
| - | - | |
| Support costs | ||
| Finance | ||
| Bank charges | 21 | - |
| Other | ||
| Insurance | - | - |
| Telephone and internet | - | - |
| Postage and stationery | - | - |
| Administration | - | - |
| Catering | - | - |
| Travel expenses | - | - |
| Advertising and marketing | - | - |
| Security | - | - |
| Governance costs | ||
| Accountancy and legal fees | - | - |
| Total resources expended | 11,085 | - |
HATFIELD SWIM CLUB CIO Net In¢omel{expendIlu) 5,542