Derby Excel SNvimming Club
Contents
Pages
2to3
Tru5tees' Annual Report
Independent Examinèr's Report
Statement of Financial Actlvliles
Balance Sheet
Notes to the Accounts
Detalled Statement Df Financlal Actlvltles
7t012
13to14
Page 1

Derby Excol Swimming Club
Trustees Annual fteport
The trustees present their réport with the unaudit8d financial statements of the charity for the pèriod ended
30 April 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Ch@rity No. 1202349
Principal Officè
Moorways Sports Viiiage
Moor Lane
Aiienton
Derby
OE24 9HY
Trustees
Th9 following trustees servod during the year:
N.V. Balns
P. Hlbbs
B. Ingram
Accountants
Davls Accountants Limlted
Big Wtsod House
109 Woodlands RoFJd
Allèstre
Derby
DE22 2HH
08JECTIVES AND ACTIVITIES
The promotion of community participation in h•fjlthy rècr6atlon, prlmarlly bul not excluslvÈly. for the bèneflt
of the inhBbliants of Derby and the surroundlng urea5 by the provislon of dèvelopm8nil¢¢mpetitlv
actlvltleslswimming and wssoclclted activitles.
The main octivltles undertaken In relatlon to those purposes.,.SwSmmlng lessons, swlmmlng tralnlng,
compotltlve swimmlng.
Providlng a swimming pathway in Derbyshlre. Capturing chil(tren leaving the learn to swlm programme at
Moorways sports vlllage and other swlm schoo15 and improvlng thelr health ￿nd swlmmlng ability. Providlng
a competitlve swimming club for thè City of Derby. Provldlng a performance swlm trainlng programmo for
tho county of DÈrbyshir&.
ACHIEVEMENTS AND PERFORMANCE
The establlshmenl of a swimmlng aeademy for children at the end of learn ltr swim programme who wlsh to
continue In th& sport of swlmmlng.
The provision of a community swim club. The rAovision of a performancé swim club and performanca
pathway for the county of Derbyshire.
Hosting six high quality swlmming compelitlons for Iwal and natlonwid8 swimmers. Co.hostlng a schools gala
ror Ihe City of Derby.
Running raster 5esglons throughout the year for childrèn to encourage tliem to join our swimming club.
Page 2

Derby Excel Swimrhing Club
Trusteè5 Annual Report
FINANCIAL REVIEW
Reserves are held in hlgh interest acctsunt and are retainèd for predicted future threats to thè ¢harity'5
finance5. These Include increased pool hire charges.
Current threats are significant increased pool hire Charges at our main facility, Moorways Sports Villège.
PLANS FOR FUTURE PERIODS
Growth of the D8rby Excel Academy.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Details can be found In our constitutlon.. Derby Exc$1 Constitution
Statoment of trustees, responsibilities in relation to the financial statèments
Th& ¢harity trusrees are responslble for preparlng a trustees, annu81 report and f5nan¢lal Statements in
accordance with applicable law and Uniled Kingdom Aceounting Standards (Unlied Kingdom Generally
Accepied Accounting PraGticel.
The trustees are responsible for keeplng proper accounting records that dis¢1050 Wlth raasonable accuracy at
any tim6 the financi¢11 posltion of the ¢hariry and to ènAble Ihem to ensuro that the financial stwtements
comply wlth the Charities Act 2011, the applicablo Chorities IA¢counts and Reports) Regulations, and tho
provlslon5 of the Trust deed. Thè Trustèes are also responslble for safeguarding the as5et5 of tha Charlty and
hen¢0 ¢aklng rgasoniblg 5lèps for ihè pr9V9ntlon and det6Ctlon offraud and othgr irregularltles.
Signgd on bghalf ol th8 charity'$ trustees
B. Ingram
Trust
17 Sept8mber 2024
Page 3

Derby Excel Swlmming Club
Indèpend&nt Examiners Report
Independent Examiner's R&p¢rt to the trustees of Derby Excel Swimming Club
I report lo tha trustéès on my examination of the flnan¢lal statements of Derby Excel Swimming Club for thg
period ended 30 Aprll 2024.
Responsibilities ènd ba515 of report
As the charity's trust8e5 you are responslble for ihe preparation of the financi815l4tements in accordan¢e
wlth thè requir&ment5 of the Charlt16s Act 20111'tlie Act'l.
I report In respect of my examlnation af the charliy's flnancit)1 statements carried out under section 145 of
tlie 2011 Act and In carrying out my examination I have followed all the applicabl& Dirèctlon5 given by the
Charity Commission under secilon 1451511bl of the Act.
Independent examiner s statement
As the charity's gros5 Sncome exceeded £250,000 your eKominer musi be a member of a body listed in
section 145 of tlie 2011 Act. l confirm Iliat l am quallfied to undertake the examination by bèing a qualifled
mèmber of ACCA.
I have complet8¢J my examlnatlon. I can ¢onflrm that no matèrlal matters have come lo my attentlon in
onnectlon wlth the examinatlon glvlng me ¢ausè to belleve that In any maierlal respect..
th¢ accountlng records were noi kepr In respect of the ¢harlty as requlred by sectlon 130 of the Act., or
the flnanclal statements do not i¢cord with those records,. or
the flnancial stalomènts do not comply wSth thè applS¢ablts requirem8nt$ concornlng the form
content of financlal stalament5 set out In the Charltiés IAc¢ounis and Reports) Rogulations 2008 othor
than any requiremènt thut the 1Snanclol statements glve a 'true and filr, vlew whicli Is not a matier
cohsldergd as part of an Independent examlnatlon.
I liavè no concerns and have Come acr055 no other matigrs In conne¢ilon wlth the examlnatlon to whl¢h
atl8ntlon should bg drawn In thls rgport In order to 8nabla 8 proper understanding of the financial
statem6ntS lo be reached.
Bibl SaadS0 Davls FCCA ACCA
Dav15 Account¢ints Limited
Big Wood House
109 Woodlands Roaé
Aiie5tree
Derby
DE22 2HH
17 September 2024
Page 4

Derby Exc61 Swimming Club
Statement of Financial Activities
for the period ended 30 April 2024
Unrestricted
funds Total fund5
2024
2024
Notes
Ineome and endovvments
from..
Donationg and legacies
Charltable activities
Othèr trading activit1&$
Oth6r
8,376
403,843
5,731
138,292
8.376
403,843
5,731
138,292
Total
556,242
556,242
Expenditur? on..
Raising ftjnds
Charitable aetivities
O¢har
5,436
401,089
9,559
5,436
401,089
9,559
Total
416,084
416,084
Net galns on Investments
Not Incom•
140,158
140,158
Transfers bgtween funds
Net income beforè other
gains/llossèsl
140,158
140,158
Other gains end losses
Net movement in funds
140,158
140,158
R袢n¢llialion of funds.,
Total funds carried forw&rd
140,158
140,158
Page 5

Derby Excel Swimming Club
Balan¢e Sheet
at 30 April 2024
Charity No. 1202349
2024
Current assets
Stocks
Cash at bank and In hand
10
6.283
172,005
178,288
138,1301
140,158
140,158
140.158
Creditors.. Amount falllng due within one year
Net currant assets
Total assets lèss current liabilitiès
Net assèts Excluding pension asset or liability
Total net assets
11
140,158
The funds of tlie cliarity
Re5trictod funds
Unrestricted funds
General funds
12
12
140,158
140,158
Reserves
12
Total funds
140,158
Approved by the tru5te85 on 17 September 2024
And slgned on thelr behalf by..
8. Ingrim
Trustèe
17 Septembar 2024
Page 6

Derby Excèl Swimming Club
Notes to thè Accounts
for thè period ended 30 April 2024
l Accounting policies
Basis of preparation
The financial statements have been prepar8d in accordance with Statement of Recommend8d Practlc&'.
Accouniing and Reporting by Charities preparing thplr 8ccounts in accordance wlth the Financial
Reporrlng Standard èppli¢able in the UK and Rèpublic if Ireland (FRS 1021155ued on 16 July 2014 and thè
Financial Reporling Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change in basis of accounting or to previous a¢¢ounts
There has been no Chango to the accountlng poll¢le$ (valuation rulè% method of accoLsntlngl s1n¢e
last year and no changes have been made io accounts for prevÈou5 years.
Fund accounting
Unrestrbcted funds These are avallable for use at thè discr&tlon of the trustees in fUrthSrar￿e of the
general obJec¢s of che cliarity.
These are unrestrlcted funds earmarked by rhe irustee5 for particular purposes.
Those aro unrestrlcted fund5 which includg a revaluatlon reserve representlng the
restaiemont of investment k)ssets at thelr market valu¥s.
These are available lor u58 subjèct to restrbctlons Imposed by the donor or through
tèrms of an appeal.
Deslgnated funds
Ravaluailon funds
Re5trlcted fund$
Income
Recognltlon of
Income
Income Is Included In ilie Statement oi FinanclEJI Actlvl¢le$1SoFAI when ihè ¢harlty
be¢omes entltled to, and vlrtually c@rtaln lo rec&lve, Ihe In¢ome and the amount tsr
the In¢¢me can b8 mèbsured wlth 5ufflclent rellablllty.
Income wlth related Where Ineome has related expendlture the Income and related expenditure is
expendlture
reportèd grosg In the SOFA.
Donatlon5 and
legacies
Voluntary Income r•cÈlved by Wciy of ￿ants, donations and gifts is included In the
the SOFA when r&¢elvable and only when the Charlty has uncondltional entlllement
tc* the Income.
Tax reclaim5 Qn
Income from tax reclaim5 Is Included In the SOFA ai ihe same ilme a5 the
donations and gift5 giftldonatlon to which it relatos.
Donated services
These aro only Included in i1￿0me (wiih an èqulvalÈnt amount in @xpenditurgl
and faclllrles
whore the benefit to tlie Charlty is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunieer help received is not Included In the accounts.
Investment income Thi5 15 included in rhe accounts when receSvable.
Gainsll1ossesl on
Thi5 include5 any gain or105s resultlng from revalulng Invesimenis io markei value
revaluatlon of fixed at the ènd of the year.
asset5
Gains/llossèsl trn
investment aSSèC5
This includes any galn or1055 on the sÈl& of investments.
Page 7

Derby Excel Swimming CluE)
Notes to the Accounts
Expenditure
Recognition of
expenditure
Exppnditure is recognised on an accruals basis. Expenditure includes any VAT which
annot be fully recovered, and is reported as part of the expenditure io which It
relates.
Expendlture on
These comprise th& tosts a550ciated wlth attra¢tlng volunlary income, fundra15ing
raising funds
tradlng costs and investment management ¢osts.
Expenditure on
Thesè comprlso the costs Sncurred by rhe Charity in the delivery of115 activlties and
charitable actlvltles services in the furtherance ol Its obje¢is, Including the maklng of grants and
govornonte to$ts.
Ali grant expendlture Ss accounted for on an actual paid basis plus an accrual for
grants thai have been approved by the trustees at the ènd of the yoar but rtot yel
paid.
Those include ihose cost5 associated with mèeting the constltutlonal and statuiory
requlrements of the Charlty, Ineludlng any auditlindÈpendent examination fees,
¢osis Ilnked to the strateglr management of the Charlty, together wllh a Share of
other 4dmini5tratlon costs,
These are Support costs noi allocaied to a particular actlvliy.
Grants payablè
Governance costs
Other trxpenditure
Taxatlon
The charlty is exempt from tax on Its charltable a¢tlvicIès.
Fraghold investment proparty
Investment prop8rtles are meosured inltlally at co$L and subsequently at fair value at aach balance sheet
dalg and are noi depreclated. Ali galn5 or losses are taken io the Statement of Finan¢lal A¢tlvltI¥9 as they
arls8.
Stocks
Sto¢k Is Included al the lower of cost or nat raallsable value. Donated items ol stock are recognlsed ot falr
value which 15 tho amount rhe ¢harSty would havg b¢trn wllllng lo pay lor the items on the open merket.
Trade and other debtors
Trade and other debtors arè reeognlsed at the sèttlement amount due after any trade dls¢()un¢ offered.
Prepayments are valued at the amount prppaid net of any trade dlscounts due.
Cash and cash equlvalonts
Cash and cash equivalent5 comprlse eash at bank and on hand, demand deposlts wlth banks and oiher
short-term highly Ilquld Invesiment5 Wlth original maturities of threp montlis or less and bÉink ovèrdrafts.
In the statement of finincial position, bank overdrafts are shown wlthin borrowlng5 or currenl Ilablllilos.
In the Statement of Cash Flows, cash and cash equlvalent5 are shown net of bank overdrafts that are
repayable on demand and form an Integral part of the company's cash managemtsni.
Tradè and otlier creditors
Shorl term crèdllors are measured ai Ihe transactlon prlce. Other credliors and provlslons ¢ire recognlsed
where the charity has a present obligatlon resultlng from o 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 rèllably. Creditors and prov191ons are normally recogni5ed at thew seltlement amount after
allowing for any trade dis¢ounts due.
Page 8

Derby Excel Swimming Club
Notes to the Account5
Research and devèlopmènt
Expenditure on re5ear¢h and dev@lopmÈni ts writton off in the year In whiGh it is incurred.
Foreign CLrrr•nEies
Monetary assets and liabilitie5 denominaied In curren¢ie5 other than the functional currency of thè
charity are translated at the rates of exchange wevalllng at the end of thè rèporiing period.
Transactlon5 in currencies other than the functional currenGy of Ihe charity ara r8corded at the rale ol
•xchange on the datè thai ihe transaction rxcurred.
Ali exchange differences &rè ère taken into account in arriving at neL Incomelexpenditure.
Lèased 455ets
Wheré the charity enters Into a lease which entalls taking subst1[ ntlally all the risks and rewards of
ownership of an assei, the leaso is treated as a fin8nce lease.
Leases whlch do not transfer substantially all t11& rlsks and rewards ol ownershlp to charlty are classified
s op6rclting leases.
A$5ets held under finance leases are inltlally rocognised as assets of the charlty at their fair valuè at tho
Inceptlon of the lease or, If lower, at thè present value of rhe mlnlmum leaso paym&nis. The
correspondlng liability to ihe18550r is included in the balance sheer dale as a finance lease obllgatlon.
Lease payments are apporlloned between flnance expenses end reductlon of the lèagÉ c>bligation 50 a$ 10
ochleve a constant rate of interest on the remalning balance of the liability. Flnit nco oxpen5es are
r8cognl$ed Immediately, unless they ara dlrectly attributAble to quallfying asset$, in wliich etyso tlioy are
capit211sed In accordjncg wlth the charlty's pollcy on borrowlng ¢o$i$.
Assers held under flnanco laa$es are depreclatèd In the same way 8$ owned assel5.
Op8ratlng lèase payment5 are recognlsed as an 8xpgnse on a straight-line basls over the lease lerm.
In the ev$nt that1oa5e Incentlves Ejro re¢elved to enior Into operatlng leeses, su¢tt Incentlves are
recognlsed k)s a Ilablllty. The aggregate benellt of Inc8ntlves Is recognlsed as 8 rgdu¢rion of renlal
expenso on a straight.llno ba515.
Pènsion costs
The charlty oper4tes a deflned contrlbution plan for Its employees. A deflned contributlon plan is a
peiislon plan under whlch the charlty pays flxed conrrlbuiions into a s8paratè entity. Once the
contrlbuiions have been paid the charity has no furthèr paymenl5 obllgations. The contrlburlons are
recognlsed as expense5 when they fall due. Amounts not paid are shown In a¢¢ruals In the balance sheet.
Thè assets of the plan are hold Separately from tlie charity in independenlly admlnislered funds.
Rec¢ipt of donated goods, facilities and s@rvices
All d()nated goo(Js, fa¢llltles and Services recelved are recogni5ed wllhln Incoming rosources and
expendiiure it an estimate of the value to the charity.
2 Income from donations and legacies
Unrestricted
Total
2024
8,376
8,376
8.376
8.376
Page 9

Derby Ex¢81 Swimming Club
Note5 to the Accounts
3 Income from charitable a¢tivltles
Unrestricted
Total
2024
Home Event Incomè
Extèrnal Mèei Income
171,165
21.308
167,653
43.717
403,843
171,165
21.308
Monthly Fee
Other Charitablè ActlviLi95
167,653
43,717
403,843
4 Income from othgr tradirvj 8¢tivities
Unrestrlcted
Total
2024
5,731
5,731
S,731
5,731
S Other income
Unrostri¢ted
Total
2024
Income on merger ol Derby
Cliy Swlmmlng Club and
Derventlo
138,292
138,292
138,292
138,292
6 Expendlture on raising funds
Unre$tri¢ted
Total
2024
Fundralsing trading costs
5,436
5,436
5,436
5,436
Page 10

Derby Excel Swimming Club
Notes to thè Accounts
7 Expendlture on choritable activities
Unre5triEted
Total
2024
Expenditurè on charitBble
activities
Home Event Income
Ext&rnal Meet Income
Monthly Fee
Other Charltable Activities
Gov&rnance costs
130,601
50,360
204,011
11,673
130,601
50,360
204,011
11,673
3.954
3,954
490
490
401,089
401,089
B Other exp6nditure
Unrestricted
Total
2024
Employee ¢ost$
Premlses costs
Genoral admlnlstratlvo ¢ost5
6,215
1,221
2,123
9,559
6,215
1,221
2,123
9,559
9 Staff costs
2024
4,253
4,253
Penslon cost9
No employee rocelved emoluments In eK¢ess of £60,000.
10 Stgcks
2024
Finlshed goods
6,283
6,283
Carrying value analysed by activltles
2024
Home Ev6nt In¢tsme
6,283
6,283
11 Creditors:
amounts falling due wilhln one year
2024
Accruals
38,130
38,130
Page11

Dèrby Excel Swimming Club
Notes to the A¢c¢unts
12 Movement in funds
Incoming
resources
(including
other
gainsllosses
Resources
expended
At 30 April
2024
Restri¢t&d funcls:
Unrèstricted funds:
General funds
556,242
1416,0841
140,158
Total funds
13 Ancily5is of net assets botweÈn funds
556.242
1416,0841
140,158
Unrestricted
funds
Total
Nei current assets
140,158
140,158
140,158
140,158
14 Recon¢iliatlon of net debt
At 30 Aprll
2024
Cash flows
Cash and ¢a$h equlvsJlentS
172,005
172,005
172,005
172,005
Net debt
172,005
172,005
15 Commitment5
Operating 10&58 commitments
Annual commltments under non.can¢ellable operatlng leases arg a5 follows..
2024
2024
Land and
buildings
Otlier
Operating lease5 Wlth expiry date.,
Pension commitment5
2024
The penslon cost charge to the chFJrlty
amounted to..
4,253
Page 12

Derby Excel Swimming Club
Detail@d Stitement of Financial Activities
for the period ended 30 April 2024
Unrestricted
funds
Total funds
2024
2024
Income and endowments from..
Donaclons and legacies
8,376
8,376
8.376
8,376
Charltable activities
Homé Event Income
External Meet Incomè
Monthly Fee
Other Charltable Activitiès
171,165
21,308
167,653
43,717
403,843
171,1Gfj
21,308
167,653
43,717
403,843
Other tradlng actlvltl&s
5,731
5,731
5,731
5,731
Other
Income on merger of Derby Clty
Swlmmlng Club and Derventlo
138,292
138,292
138,292
138,292
556,242
Totol incomè and endowments
Expenditure on..
Cost5 01 othor tradlng actlvltle$
556,242
5,436
5,436
5,436
5,436
Total of expènditure on ralslng
funds
5,436
5,436
Charltable actlvlrle5
Home Event Income
External Meei In¢omÈ
Monthly Feè
Other Charltabl& Activitie5
130,601
50,360
204,011
11,673
396,645
130,601
50,360
204.011
11,673
396,645
Governance ¢osts
3.954
490
4,444
3,954
490
4,444
Total of expenditur8 on ch¢lritable
8Gtivities
401,089
401,089
Employee costs
Pension c05ts
4.253
4,253
Pxge13

Derby Excel Swimming Club
Detailed Statement of Financial Activities
Staff entertainment
Siaff training
Siaff welfare
89
1,255
618
6,215
89
1,255
618
6,215
Premlses G05t5
Rent
1,221
1.221
1,221
1,221
General administrative costs,
Includlng depreciatioii and
amortlsatlon
Bank charg&s
Software, IT support and related
¢osrs
Statlonery and printing
547
547
871
871
705
2,123
9,559
705
2,123
9,559
Total of expenditure of other costs
Total expenditure
Nèt gains on invostmgnt5
416,084
416,084
Net Income
140,158
140,158
Nei Sncome before othgr
oains/l1055e51
Other Galns
140,158
140,158
Net movement In funds
140,158
140,158
Reconcillation of funds..
T¢ral funds brought forward
Total funds ¢arried lorwbrd
140,158
140,158
Page 14