Derby Excel Swimming Club
Charity No. 1202349
Trustees' Report and Unaudited Accounts
30 April 2025
Derby Excel Swimming Club Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Actvites | 6 |
| Balance Sheet | 7 |
| Statement of Cash fows | 16 |
| Notes to the Accounts | 8 to 15 |
| Detailed Statement of Financial Actvites | 17 to 18 |
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 April 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1202349
Principal Office
Moorways Sports Village
Moor Lane
Allenton
Derby
DE24 9HY
Trustees
The following trustees served during the year:
N.V. Bains
P. Hibbs
B. Ingram
Accountants
Davis Accountants Limited
Big Wood House 109 Woodlands Road
Allestree
Derby DE22 2HH
OBJECTIVES AND ACTIVITIES
The promotion of community participation in healthy recreation, primarily but not exclusively, for the benefit of the inhabitants of Derby and the surrounding areas by the provision of development/competitive activities/swimming and associated activities.
Page 1
Derby Excel Swimming Club
Trustees Annual Report
The main activities undertaken in relation to those purposes...Swimming lessons, swimming training, competitive swimming.
Providing a swimming pathway in Derbyshire. Capturing children leaving the learn to swim programme at Moorways sports village and other swim schools and improving their health and swimming ability. Providing a competitive swimming club for the City of Derby. Providing a performance swim training programme for the county of Derbyshire.
ACHIEVEMENTS AND PERFORMANCE
The establishment of a swimming academy for children at the end of learn to swim programme who wish to continue in the sport of swimming. The Excel Ignite programme was launched in spring 2025 with the aim of bridging the gap between swim lessons and competitive club squads.
Page 2
Derby Excel Swimming Club
Trustees Annual Report
The provision of a community swim club. The provision of a performance swim club and performance pathway for the county of Derbyshire.
Hosting six high quality swimming competitions for local and nationwide swimmers. Co-hosting a schools gala for the City of Derby.
Running taster sessions throughout the year for children to encourage them to join our swimming club.
We host the Annual Club Championships and a Presentation Night to highlight the achievements of the
swimmers, and to give alumni an opportunity for an annual reunion. FINANCIAL REVIEW
Over the past year Derby Excel achieved a significant surplus which can be attributed to two factors:
-
1) The success of its Open Meet competitions. Derby Excel is gaining a reputation for running high quality, well organised events. The programme encompasses different levels of competition attracting a wide audience, from those competing for the first time to National qualifying events. Entry numbers across the board have increased which has significantly boosted the charity’s finances.
-
2) Increase in membership numbers allowing economies of scale across the programme.
Reserves are held in high interest account and are retained for predicted future threats to the charity’s finances. Over the past two years the main threat to the Charity’s finances has included anticipated and significant increase in pool hire charges. In recent month’s the charity trustees have successfully negotiated an agreement with the pool operator that ensures pool hire prices for the next five years remain affordable.
PLANS FOR FUTURE PERIODS
Growth of the Excel Ignite programme.
Growth at the base of the swimming club with the academy squads.
Investment in dryside training with a link to the University of Derby and the facilities/expertise that they can offer.
Investment in volunteers, removing barriers to entry and supporting training opportunities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Details can be found in our constitution: Derby Excel Constitution
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees
Page 3
Derby Excel Swimming Club
Trustees Annual Report
B. Ingram Trustee 19 September 2025
Page 4
Derby Excel Swimming Club
Independent Examiners Report
Independent Examiner's Report to the trustees of Derby Excel Swimming Club
I report to the trustees on my examination of the financial statements of Derby Excel Swimming Club for the year ended 30 April 2025.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements 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 Act.
Independent examiner's statement
As 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 by being a qualified member of Association of Chartered Certified Accountants.
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Bibi Saadia Davis FCCA Association of Chartered Certified Accountants Davis Accountants Limited Big Wood House 109 Woodlands Road Allestree
Derby DE22 2HH 19 September 2025
Page 5
Derby Excel Swimming Club Statement of Financial Activities
for the year ended 30 April 2025
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total funds | Total funds | ||
| 2025 | 2025 | 2025 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| Income and endowments | |||||
| from: | |||||
| Donatons and legacies | 3 | 4,497 | - | 4,497 | 8,376 |
| Charitable actvites | 4 | 462,852 | 2,958 | 465,810 | 403,843 |
| Other trading actvites | 5 | 2,261 | - | 2,261 | 5,731 |
| Investments | 6 | 2,062 | - | 2,062 | - |
| Other | 7 | ||||
| Total | |||||
| Expenditure on: | |||||
| Raising funds | 8 | ||||
| Charitable actvites | 9 | ||||
| Other | 10 | ||||
| Total |
Net gains on investments
Net income
Transfers between funds
Net income before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Page 6
Derby Excel Swimming Club
| Balance Sheet at 30 April 2025 Net assets excluding pension asset or liability Charity No. 1202349 Current assets Stocks Debtors Cash at bank and in hand Creditors:Amount falling due within one year Net current assets Total assets less current liabilites |
- | - - |
138,292 |
|---|---|---|---|
| 471,672 4,849 420,794 9,710 |
2,958 474,630 - 4,849 - 420,794 - 9,710 |
556,242 5,436 401,089 9,559 |
|
| 435,353 - |
- 435,353 - - |
416,084 - |
|
| 36,319 - |
2,958 39,277 - - |
140,158 - |
|
| 36,319 | 2,958 39,277 |
140,158 | |
| 36,319 140,158 |
2,958 39,277 - 140,158 |
140,158 - |
|
| 176,477 | 2,958 179,435 |
140,158 | |
| 12 13 14 |
|||
| 179,435 140,158 ~~2025~~ ~~£~~ 6,283 10,220 201,602 218,105 (38,670) 179,435 179,435 |
|||
| ~~2024~~ |
|||
| ~~£~~ | |||
| 6,283 - 172,005 178,288 (38,130) 140,158 140,158 |
|||
Page 7
Derby Excel Swimming Club Notes to the Accounts Total net assets
179,435
140,158
The funds of the charity
| Restricted funds 15 Restricted income funds Unrestricted funds 15 General funds Reserves 15 Total funds |
2,958 - 2,958 - 176,477 140,158 176,477 140,158 179,435 140,158 |
|---|---|
Approved by the trustees on 19 September 2025
And signed on their behalf by:
----- Start of picture text -----
B. Ingram
Trustee
19 September 2025
----- End of picture text -----
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Page 8
Derby Excel Swimming Club Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
Derby Excel Swimming Club Notes to the Accounts
| es to the Accounts | |
|---|---|
| Expenditure | |
| Recogniton of | Expenditure is recognised on an accruals basis. Expenditure includes any VAT which |
| expenditure | cannot be fully recovered, and is reported as part of the expenditure to which it |
| relates. | |
| Expenditure on | These comprise the costs associated with atractng voluntary income, fundraising |
| raising funds | trading costs and investment management costs. |
| Expenditure on | These comprise the costs incurred by the Charity in the delivery of its actvites and |
| charitable actvites | services in the furtherance of its objects, including the making of grants and |
| governance costs. | |
| Grants payable | All grant expenditure is accounted for on an actual paid basis plus an accrual for |
| grants that have been approved by the trustees at the end of the year but not yet | |
| paid. | |
| Governance costs | These include those costs associated with meetng the consttutonal and statutory |
| requirements of the Charity, including any audit/independent examinaton fees, | |
| costs linked to the strategic management of the Charity, together with a share of | |
| other administraton costs. |
Other expenditure These are support costs not allocated to a particular activity. Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Page 10
Derby Excel Swimming Club
Notes to the Accounts
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
| Unrestricted | ||
|---|---|---|
| funds | Total funds | |
| 2024 | 2024 | |
| £ | £ | |
| Income and endowments from: | ||
| Donatons and legacies | 8,376 | 8,376 |
| Charitable actvites | 403,843 | 403,843 |
Page 11
Derby Excel Swimming Club
Notes to the Accounts
| Notes to the Accounts | ||
|---|---|---|
| 2 Statement of Financial Actvites - prior year Total Net income Other trading actvites Other Total Expenditure on: Raising funds Charitable actvites Other Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliaton of funds: 3 Income from donatons and legacies Unrestricted £ 4,497 4,497 4 Income from charitable actvites Unrestricted Restricted £ £ Home Event Income 190,262 - External Meet Income 19,680 - Monthly Fee 184,530 - Other Charitable Actvites 68,380 2,958 462,852 2,958 Unrestricted £ 2,261 2,261 6 Income from investments Unrestricted £ 2,062 2,062 7 Other income Income on merger of Derby City Swimming Club and Dervento |
416,084 140,158 5,731 138,292 556,242 5,436 401,089 9,559 140,158 140,158 Total 2025 £ 4,497 4,497 Total 2025 £ 190,262 19,680 184,530 71,338 465,810 Total 2025 £ 2,261 2,261 Total 2025 £ 2,062 2,062 Total 2025 £ - |
5,731 138,292 556,242 5,436 401,089 9,559 |
| 416,084 | ||
| 140,158 140,158 |
||
| 140,158 Total 2024 £ 8,376 8,376 Total 2024 £ 171,165 21,308 167,653 43,717 403,843 Total 2024 £ 5,731 5,731 Total 2024 £ - - Total 2024 £ 138,292 |
Page 12
Derby Excel Swimming Club Notes to the Accounts
Total funds carried forward 140,158 140,158 5
| Income from other trading actvites | |
|---|---|
| - 138,292 |
| 8 | Expenditure on raising funds | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Fundraising trading costs | ||||
| 4,849 | 4,849 | 5,436 | ||
| 4,849 | 4,849 | 5,436 |
Page 13
Derby Excel Swimming Club Notes to the Accounts
| Expenditure on charitable actvites Home Event Income External Meet Income Monthly Fee Other Charitable Actvites Governance costs 10Other expenditure Employee costs Premises costs General administratve costs 11Staf costs Pension costs No employee received emoluments in excess of £60,000. 12 Stocks Finished goods Carrying value analysed by actvites Home Event Income |
Unrestricted Total Total 2025 2024 £ £ £ 180,801 180,801 130,601 86,774 86,774 50,360 112,627 112,627 204,011 38,992 38,992 11,673 1,600 1,600 3,954 - - 490 420,794 420,794 401,089 Unrestricted Total Total 2025 2024 £ £ £ 5,480 5,480 6,215 1,587 1,587 1,221 2,643 2,643 2,123 9,710 9,710 9,559 2025 2024 4,280 4,253 4,280 4,253 2025 2024 £ £ 6,283 6,283 6,283 6,283 2025 2024 £ £ 6,283 6,283 |
|---|---|
Page 14
Derby Excel Swimming Club Notes to the Accounts
| 9 Expenditure on charitable actvites 13Debtors Prepayments and accrued income |
6,283 6,283 2025 2024 £ £ 10,220 - 10,220 - |
|---|---|
Page 15
Derby Excel Swimming Club Notes to the Accounts
14 Creditors:
amounts falling due within one year
| Accruals Deferred income 15 Movement in funds At 1 May 2024 Restricted funds: Restricted income funds: Cypriot Fund - Total Unrestricted funds: General funds 140,158 Total funds 140,158 Purposes and restrictons in relaton to the funds: Restricted funds: Cypriot Fund Swimcamp 16Analysis of net assets between funds Net current assets 17Reconciliaton of net debt Cash and cash equivalents - |
2025 2024 £ £ 13,607 38,130 25,063 - 38,670 38,130 Incoming resources (including Resources At 30 April other expended 2025 gains/losses ) £ £ £ 2,958 - 2,958 471,672 (435,353) 176,477 474,630 (435,353) 179,435 Unrestricted funds Total £ £ 179,435 179,435 179,435 179,435 At 1 May 2024 Cash fows At 30 April 2025 £ £ £ 172,005 29,597 201,602 172,005 29,597 201,602 2,958 - 2,958 |
|---|---|
Page 16
Derby Excel Swimming Club Notes to the Accounts
Net debt
172,005 29,597 201,602
18 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2025 | 2025 | 2024 |
2024 | |
|---|---|---|---|---|
| Land and | Land and | |||
| Other | Other buildings | buildings | ||
| £ | £ | £ | £ | |
| Operatng leases with expiry date: | ||||
| Pension commitments | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 4,280 | 4,253 |
Page 17
Derby Excel Swimming Club Statement of Cash flows for the
year ended 30 April 2025
| Net cash from investng actvites Net cash from fnancing actvites Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances Cash fows from operatng actvites Net income per Statement of Financial Actvites Adjustments for: Dividends, interest and rents from investments Other gains/losses Increase in stocks Increase in trade and other receivables Increase in trade and other payables Net cash provided by operatng actvites Cash fows from investng actvites Dividends, interest and rents from investments |
29,597 172,005 201,602 201,602 201,602 2025 £ 39,277 (2,062) - - (10,220) 540 27,535 2,062 2,062 - |
172,005 - 172,005 172,005 172,005 2024 £ 140,158 (138,292) - (6,283) - 38,130 33,713 138,292 138,292 - |
|---|---|---|
Page 18
Derby Excel Swimming Club
| Unrestricte | Restricted | |||
|---|---|---|---|---|
| d funds | funds | Total funds | Total funds | |
| 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Income and endowments from: | ||||
| Donatons and legacies | ||||
| 4,497 | - | 4,497 | 8,376 | |
| 4,497 | - | 4,497 | 8,376 | |
| Charitable actvites | ||||
| Home Event Income | 190,262 | - | 190,262 | 171,165 |
| External Meet Income | 19,680 | - | 19,680 | 21,308 |
| Monthly Fee | 184,530 | - | 184,530 | 167,653 |
| Other Charitable Actvites | 68,380 | 2,958 | 71,338 | 43,717 |
| 462,852 | 2,958 | 465,810 | 403,843 | |
| Other trading actvites | ||||
| 2,261 | - | 2,261 | 5,731 | |
| 2,261 | - | 2,261 | 5,731 | |
| Investments | ||||
| 2,062 | - | 2,062 | - | |
| 2,062 | - | 2,062 | - | |
| Other | ||||
| Income on merger of Derby City Swimming Club and Dervento |
- | - | - | 138,292 |
| - | - | - | 138,292 | |
| Total income and endowments | 471,672 | 2,958 | 474,630 | 556,242 |
| Expenditure on: | ||||
| Costs of other trading actvites | ||||
| 4,849 | - | 4,849 | 5,436 | |
| 4,849 | - | 4,849 | 5,436 | |
| Total of expenditure on raising | 4,849 | - | 4,849 | 5,436 |
| funds | ||||
| Charitable actvites | ||||
| Home Event Income | 180,801 | - | 180,801 | 130,601 |
| External Meet Income | 86,774 | - | 86,774 | 50,360 |
| Monthly Fee | 112,627 | - | 112,627 | 204,011 |
| Other Charitable Actvites | 38,992 | - | 38,992 | 11,673 |
| 419,194 | - | 419,194 | 396,645 | |
| Governance costs |
Page 19
Derby Excel Swimming Club
| 1,600 | - | 1,600 | 3,954 |
|---|---|---|---|
| - | - | - | 490 |
| - | 4,444 |
Detailed Statement of Financial Activities for the year ended 30 April 2025
1,600 1,600
Page 20
Derby Excel Swimming Club Detailed Statement of Financial Activities
| Total of expenditure on charitable actvites Employee costs Pension costs Staf entertainment Staf training Staf welfare Premises costs Rent General administratve costs, including depreciaton and amortsaton Bank charges Exchange rate (gain)/loss Sofware, IT support and related costs Statonery and printng |
420,794 4,280 108 705 387 5,480 1,587 1,587 522 100 1,502 519 |
- - - - - - - - - - - - |
420,794 4,280 108 705 387 5,480 1,587 1,587 522 100 1,502 519 |
401,089 4,253 89 1,255 618 6,215 1,221 1,221 547 - 871 705 |
|---|---|---|---|---|
36,319 2,958 39,277 140,158
| Total of expenditure of other costs Total expenditure Net gains on investments Net income |
2,643 9,710 435,353 - 36,319 |
- - - - 2,958 |
2,643 9,710 435,353 - 39,277 |
2,123 |
|---|---|---|---|---|
| 9,559 | ||||
| 416,084 - 140,158 |
Page 21
| Derby Excel Swimming Club | ||||
|---|---|---|---|---|
| Net income before other | ||||
| gains/(losses) | 36,319 | 2,958 | 39,277 | 140,158 |
| Other Gains | - | - | - | - |
| Net movement in funds | ||||
| Reconciliaton of funds: | ||||
| Total funds brought forward | 140,158 | - | 140,158 | - |
| Total funds carried forward | 176,477 | 2,958 | 179,435 | 140,158 |
Page 22