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:**
1. Treat people well
2. Exceed expectations
3. Aim high and never give up
4. 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.