Charity No. 1205019
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR CITY OF SOUTHAMPTON SWIMMING CLUB
CITY OF SOUTHAMPTON SWIMMING CLUB
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 1
CITY OF SOUTHAMPTON SWIMMING CLUB
REPORT OF THE TRUSTEES for the year ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES Objectives and aims
The City of Southampton Swimming Club is the major swimming club in Southampton, Hampshire and is based at the Quays Swimming & Diving Complex. The club was founded in 1963 by the amalgamation of Southampton Amateurs and City Borough. The City of Southampton Swimming Club won the European Club Championship under the leadership of Derek Snelling and numbered many international swimmers. This ethos and ambition has been carried forward by the coaches and committee to this day.
City of Southampton Swimming Club (CSSC) is a community-based organisation with a focus on:
-
Providing a learn to swim programme called “Otters” to develop swimmers through fun;
-
Enabling swimmers to develop and achieve their own personal goals regardless of ability;
-
A swimmer centric programme that involves all ages from young to masters;
-
A training programme to enable swimmers to compete at local, regional and national competitions;
Club Values:
-
Treat people well
-
Exceed expectations
-
Aim high and never give up
-
Act with integrity
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 2
CITY OF SOUTHAMPTON SWIMMING CLUB
REPORT OF THE TRUSTEES for the year ended 31 December 2024
Public benefit
The trustees have considered the Charity Commission's guidance on public benefit.
Volunteers
The charity benefits from significant voluntarily donated time. Volunteers help with the administration of the charity, supporting competitive swimmers and running competitive swimming meets. They give significant time to support the activities and maintain the delivery of the objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The previous 12 months have been a big year for the club with a complete overhaul of the squad structure for the swimming side of the club, a new head of performance coach and 5 new Trustees. The organisation has coped well with all of the changes. We continue to expand our offering to serve all members of the club.
As we continue to develop the focus will be on maintaining the quality of services offered whilst growing at the foundation levels of the club and whilst continuing to work on improvements in the performance of club swimmers on the regional, national and international stages.
FINANCIAL REVIEW
Financial position
The charity shows a healthy balance sheet at the end of the accounting period. The club transferred from a CASC to CIO in January 2024. The club generated a surplus in the year of £25,778 and was gifted £75,541 by the existing club when it transitioned to a CIO.
Reserves policy
It is the policy of the trustees to maintain unrestricted funds at a level where they can provide at least six months' expenditure. At the balance sheet date, the funds were sufficient to meet this objective.
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 3
CITY OF SOUTHAMPTON SWIMMING CLUB
REPORT OF THE TRUSTEES for the year ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution dated 21[st] September 2023, and constitutes a Charitable Incorporated Organisation ("CIO").
Recruitment and appointment of new trustees
Nominations for election of charity trustees shall be made in writing by the proposer and seconder to the secretary not later than 14 days before the annual general meeting.
The charity trustees will make available to each new charity trustee, on or before his or her first appointment: A copy of the constitution, and any amendments made to it, and a copy of the latest annual report and financial statements.
Organisational structure
The overall day to day management of the charity is carried out by the trustees who are also responsible for significant decisions of a long term operational nature.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1205019
Principal address and registered office
The Quays Swimming and Diving Complex 27 Harbour Parade Southampton, SO15 1BA
Trustees
| Trustees | ||
|---|---|---|
| Name | Position | Appointed |
| Stewart Adamson | Chair | 02-Oct-23 |
| Adrian Edwin Jones | Trustee | 17-Oct-24 |
| Joanne Roles | Trustee | 02-Oct-23 |
| Karen Baroni | Trustee | 02-Oct-23 |
| Robert Bassett FRSA | Trustee | 02-Oct-23 |
Independent Examiner
tdgaccountancy 237 Manor Farm Road Bitterne Park Southampton, SO18 1NY
CIO Company number CE033768
Approved by order of the board on 25 March 2025 and signed on it’s behalf by:
Mr Stewart Adamson – Trustee
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 4
CITY OF SOUTHAMPTON SWIMMING CLUB
STATEMENT OF TRUSTEES' RESPONSIBILITIES for the year ended 31 December 2024
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY OF SOUTHAMPTON SWIMMING CLUB for the year ended 31 December 2024
Independent examiner's report to the trustees of City of Southampton Swimming Club
I report to the charity trustees on my examination of the accounts of City of Southampton Swimming Club (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Chartered Institutes of Public Finance Accountants and a member of the Association of Accounting Technicians in England and Wales, which are both 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of 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.
Andrew D Nicholas CPFA, MAAT
tdgaccountancy 237 Manor Farm Road Bitterne Park Southampton Hampshire SO18 1NY
25 March 2025
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 6
CITY OF SOUTHAMPTON SWIMMING CLUB
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024
| Unrestricted Fund INCOME FROM Notes £ Charitable Activities Other trading income 2 300,855 Investment income 3 644 Grant income 4 3,341 Donations and Sponsorship 5 79,270 Total 384,110 EXPENDITURE ON Charitable Activities Trading activities 6 265,847 Overhead expenses 7 16,944 Total 282,791 NET INCOME/(EXPENDITURE) 101,319 Transfer between funds - Net movement in funds 101,319 RECONCILIATION OF FUNDS Total fund brought forward - TOTAL FUNDS CARRIED FORWARD 101,319 |
Restricted Fund £ - - - - - - - - - - - - - |
2024 Total £ 300,855 644 3,341 79,270 384,110 265,847 16,944 282,791 101,319 - 101,319 - 101,319 |
2023 Total £ - - - - - - - - - - 101,319 - 101,319 |
|---|---|---|---|
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 7
CITY OF SOUTHAMPTON SWIMMING CLUB
BALANCE SHEET
as at 31 December 2024
| Unrestricted Fund FIXED ASSETS Notes £ Tangible assets 5,666 CURRENT ASSETS Stocks 10 1,193 Debtors - Cash at bank 96,213 CREDITORS Amounts falling due within one year 11 1,753 NET CURRENT ASSETS 95,653 TOTAL ASSETS LESS CURRENT LIABILITIES 101,319 NET ASSETS 101,319 FUNDS 12 101,319 TOTAL FUNDS 101,319 |
Restricted Fund £ - - - - - - - - - - |
2024 Total £ 5,666 1,193 - 96,213 1,753 95,653 101,319 101,319 101,319 101,319 |
2023 Total £ - - - - - - - - - - |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 March 2025 and were signed on its behalf by:
Mr Stewart Adamson – Trustee
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 8
CITY OF SOUTHAMPTON SWIMMING CLUB
NOTES TO FINANCIAL STATEMENTS for the year ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Charities SORP (FRS 102) rather than the Charities SORP 2005, which has since been withdrawn.
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. Government grants that do not impose future performance-related conditions are recognised in income when the received or 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Equipment - Straight line over 5 years
The charity has a policy of only capitalising assets with a value of £1,000 or more.
Taxation
The charity is exempt from tax on its charitable activities
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 9
CITY OF SOUTHAMPTON SWIMMING CLUB
NOTES TO FINANCIAL STATEMENTS for the year ended 31 December 2024
| 2. OTHER TRADING ACTIVITIES Squad fees Learn to swim fees Meet Fees Membership fees Other revenue 3. INVESTMENT INCOME Deposit account interest 4. GRANT INCOME HMRC Employment Allowance 5. DONATIONS AND SPONSORSHIP Donation from CSSC CASC Corporate sponsorship Individual Donations |
2024 £ 150,834 86,305 45,812 8,125 9,779 300,855 2024 £ 644 2024 £ 3,341 2024 £ 75,541 1,700 2,029 79,270 |
2023 £ - - - - - - 2023 £ - 2023 £ - 2023 £ - - - - |
|---|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year 31 December 2024.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| Coaching and admin staff | 19 | - |
8. INDEPENDENT EXAMINERS REMUNERATION
The independent examiners remuneration amounts to an independent examination fee of £780 (2023: £0) and other services of £777.60 (2023: £0).
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 10
CITY OF SOUTHAMPTON SWIMMING CLUB
NOTES TO FINANCIAL STATEMENTS for the year ended 31 December 2024
| 9. TANGIBLE FIXED ASSETS COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for the year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 10. STOCK / DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Shop stock 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses |
2024 £ - 1,193 1,193 2024 £ 38 1,715 1,753 |
Equipment £ - 7,083 7,083 - 1,417 1,417 5,666 - 2023 £ - - - 2023 £ - - - |
|---|---|---|
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 11
CITY OF SOUTHAMPTON SWIMMING CLUB
NOTES TO FINANCIAL STATEMENTS for the year ended 31 December 2024
| 12. MOVEMENT IN FUNDS At 01/01/23 £ Unrestricted funds General fund - Restricted funds None - TOTAL FUNDS - Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds None TOTAL FUNDS |
Net Movement £ 101,319 - 101,319 Incoming resources £ 384,110 - 384,110 |
Net Transfer £ - - - Resouces expended £ 282,791 - 282,791 |
At 31/12/24 £ 101,319 - 101,319 Movement in funds £ 101,319 - 101,319 |
|---|---|---|---|
12. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension plan for its employees. The amount recognised in the SOFA as an expense in the period was £4,971 (2023 - £0)
The defined contribution liability is allocated to unrestricted funds and amounts to £0 (2023 - £0) at the period end.
13. RELATED PARTY DISCLOSURES
During the period under review no related party transaction occurred.
14. OPERATING LEASES
The charity has two non-material operating lease commitments.
The main pool utilised by the club is on a one month rolling basis with a monthly commitment of £5,600 currently.
The charity also uses two other local pools again on a monthly or pay asyou go basis.
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 12
CITY OF SOUTHAMPTON SWIMMING CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITES for the year ended 31 December 2024
| Unrestricted Fund INCOME AND ENDOWMENTS FROM £ Donations and Legacies 75,541 Charitable Activities Age Group Squad Fees 137,456 Away Meet Fees (Revenue) 22,393 Club Membership Fees 923 CSSC Meet Fees (Revenue) 23,419 Fundraising (Corporate Sponsorship) 1,700 Interest Income 644 Learn to Swim Fees 86,305 Masters Squad Fees 13,378 Other Revenue 4,103 Parking Passes 1,651 Shop / Merchandise Sales 4,025 Sponsorship & Donation (Individuals) 2,029 Swim England Membership Fees (Revenue) 7,202 HMRC Employment Allowance 3,341 Total 384,110 EXPENDITURE ON Charitable Activities Age Group Squads - Fee Refunds 502 Car Park Passes (Cost) 38 Club Merchandise (COGS) 1,129 Contractor Costs - Direct Wages 139,585 Pension 4,971 Equipment Hire 435 Meeting Room Hire 138 Medals and Awards 3,764 Meet Fees - Away Meets (COGS) 22,126 Otters Learn to Swim - Fee Refunds 24 Meet Fees - COSS Meet Refunds 245 Pool Hire 83,303 Swim England Meet Levies 617 Swim England Membership Fees (COGS) 8,970 265,847 |
Restricted Fund £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
2024 Total £ 75,541 137,456 22,393 923 23,419 1,700 644 86,305 13,378 4,103 1,651 4,025 2,029 7,202 3,341 384,110 502 38 1,129 - 139,585 4,971 435 138 3,764 22,126 24 245 83,303 617 8,970 265,847 |
2023 Total £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
|---|---|---|---|
This page does not form part of the statutory financial statements
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.
Page 13
CITY OF SOUTHAMPTON SWIMMING CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITES Continued for the year ended 31 December 2024
| Unrestricted Fund Overhead expenses £ Advertising & Marketing 16 Audit & Accountancy fees 1,322 Bank Transaction Fees 2,465 Depreciation Expense 1,417 Entertainment - 0% 1,155 Telephone Expenses 183 Insurance 2,794 Printing & Stationery 317 IT Software and Consumables 115 IT & Online Subscriptions 2,009 Repairs & Maintenance 279 Staff Training - Staff Compliance Costs 126 Staff Uniform 176 Volunteer Expenses 177 Travel & Subsistence - National 3,395 Food & Drink 998 16,944 NET INCOME/(EXPENDITURE) 101,319 |
Restricted Fund £ - - - - - - - - - - - - - - - - - - - |
2024 Total £ 16 1,322 2,465 1,417 1,155 183 2,794 317 115 2,009 279 - 126 176 177 3,395 998 16,944 101,319 |
2023 Total £ - - - - - - - - - - - - - - - - - - - |
|---|---|---|---|
This page does not form part of the statutory financial statements
Making swimming in the City of Southampton accessible and fun, and helping swimmers to swim fast.