Charlty reglstratlon number 1211142 (England and Wal9$1 EXETER CITY SWIMMING CLUB (C.I.O.) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 EXETER CITY SWIMMING CLUB (C.I.O.) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Wayland Mr L Joyce Ms K Vain Mrs C Board Mr J Walters (Appointed 3 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 Charity registration England and Wales 1211142 Principal address 3 Glebelands Exminster EX6 8AR Indepgndgnt examlnor Damells Chartered A¢¢ountsnts 30 Fore Street Totne5 Devon TQ9 5RP Bankers Barclays Bank PLC 3 Bedford Street Exeter EX1 1 LX Solicitors Tozers LLP Broadwalk House Southernhay Exeter EX1 1UA EXETER CITY SWIMMING CLUB (C.I.O.) CONTENTS Page Trustees, report Accounlanl's report Statement of financial activities Balance sheet Notes to the financial slalements EXETER CITY SWIMMING CLUB (C.I.O.) TRUSTEES. REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2025 The trustees present their annual report and financial slalemenls for the period ended 30 September 2025. The accounts have been prepared in accordance wth the accounting policies set out in note 1 to the accounts and comply with the charity's governing document. the Charities Act 2011 and°Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities Exeter Cily Swimming Club CIO was registered with the Charity Commission in November 2024. Its charitable objective is to promote community participation in the sport of swmming through the provision of coaching, training and competitive opportunities. The trustees have had due regard to the Charity Commission's guidance on public benefit. Achievements and performance The CIO was established during the year to facilitate the incorporation of Exeter City Swimming Club and the transfer of its charitable activities from the existing unincorporated association. During the reporting period, the CIO did not undertake any trading or operational aclivilies. The trustees focused on establishing the governance arrangements, policies and adminislralive framework necessary to enable the transfer of the Club's undertaking. Financial review The CIO had no significant trading activity during the period ended 30 September 2025. The financial statements therefore reflect a preparatory period prior lo the commencement of operations. Events After the Reporting Period On 1 October 2025, the assets, liabilities and activities of Exeter City Swimming Club (the unincorporated association) transferred to Exeter City Swimming Club CIO. From that date, the CIO became responsible for delivering all of the Club's charitable activities. Future Plans The trustees will continue lo develop the Club within the CIO slruclure, maintaining strong governan￿, financial sustainability and a high-quality swimming programme for members and the wider community. Structure, governance and management The charity is an unincorporated charity established by constitution as adopted 27 November 2024. EXETER CITY SWIMMING CLUB (C.I.O.) TRUSTEES. REPORT {CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2025 The trustees who served during the period were". Mr T Biddick Mr J Clements Mr J Wayland Mr L Joyce Ms K Vain Mrs C Board Mr J Walters (Resigned 29 January 20251 (Resigned 5 July 20261 (Appointed 3 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 (Appointed 1 December 20241 The Trustees are appointed by approval of the members. The CIO is governed by its Constitution and managed by its Board of Trustees, who are responsible for the strategic direction, govemance and financial management of the charity. The trustees. report was approved by the Board of Trustees. Eaèg Vaiii Ms K Valn Trustee Dated.. 31107126 EXETER CITY SWIMMING CLUB (C.I.O.) ACCOUNTANT'S REPORT TO THE TRUSTEES OF EXETER CITY SWIMMING CLUB In orderlo assist you lo fuKIl your duties under the Charities Act 2011, we have prepared for yourapproval the financial slalemenls of Exeter City Swmming Club IC.I.O.I for the period ended 30 September 2025, which comprise the slalemenls of financial activities and the related notes from the charity's accounting records and from information and explanations you have given us. As a praclicing member fimi of the Inslilule of Chartered Accountsnts in England and Wales, we are subject to its ethical and other professional requirements which are detsiled al hllps"./lwww.icaew.comlregulalion. The report is made lo the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely lo prepare for your approval the financial slalèments of Exelèr City Swimming Club IC.I.O.l and slate those matters that we have agreed lo slate the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exeter City Swimming Club {C.l.O.l and the charity's Iruslees as a body, for our work or for this report. It is your duty lo ensure that Exeter City Swimming Club IC.I.O.I has adequate accounting records and to prepare slalutory Iinanual statements that give a true and fair view of the assets, liabilities, financial position and surplus of Exeter City Swimming Club IC.I.O.l. You consider that Exeter City Swmming Club IC.I.O.l is exempt from the slalutory audit requirement for the year and is not required lo obtsin an independent examiner's report. We have not been instructed to cary out an audit or review of the financial statements of Exeter City Swimming Club IC.I.O.l. For this reason, we have not verified the accuracy or completeness of the accounting or information and explanations you have given lo us, and we do not, therefore, express any opinion on the statutory financial slalemenls. zJa Louisa Lulek FCA Darnells Chartered Accountants 30 Fore Street Tolnes Devon TQ9 5RP Dated.. 0310812026 EXETER CITY SWIMMING CLUB (C.I.O.) STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE PERIOD ENDED 30 SEPTEMBER 2025 Unrestricted funds 2025 Restricted funds 2025 Total 2025 Notes Income from- Donations and legacies Total income Expenditure on- Raising funds Total expenditure Net incomellexpenditurel and movement in funds Reconclllatlon of funds.. Fund balances at 30 September 2025 The ststemenl of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities. EXETER CITY SWIMMING CLUB (C.I.O.) BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 Notes Current assets Cash al bank and in hand Net current assets The funds of the charity Unreslricled funds The financial statements were approved by the trustees on Jul 31, 2026 Vaiii Ms K Vain Trustee EXETER CITY SWIMMING CLUB (C.I.O.) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 Accountlng pollcles Charity information Exeter City Swimming Club IC.I.O.l is an unincorporated charity estsblished by constitution in 2024. 1.1 Accountlng conventlon The accounts have been prepared in accordance wth the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalement of Cash Flows. The financial statements are prepared in sterling, which is the ftjnctional currency of the ¢harity. Monetary amounts in these finanaal statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate reSoU￿S to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the reslricled funds are set out in the notes lo the financial stslemenls. 1.4 Income Income is recognised when the charity is legally entitled lo il after any perfomiance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised On￿ the charity has been notified of the donation, unless performance condits.ons require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant Is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the ¢harity has been notified of an impending dislribulion, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. No amounts are included in the financial statements for services donated by volunteers. 1.5 Expenditure Liabilities are re¢ognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on the accruals basis and includes iThecoverable VAT. ExpenditLJre is allocated to categories either on a direct or a usage basis. EXETER CITY SWIMMING CLUB (C.I.O.) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2025 Accountlng pollcles Icontlnuedl 1.6 Stocks Stocks are stated al the lower of cost and eslimaled selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution al no or nominal consideration are measured at the lower of replacement cost and cost. Net ￿alIsable value is the estimated selling price less all estimated costs of completion and Costs lo be incurred in marketing, selling and dislribulion. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-letm liquid investments with original maturities of th￿e months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls. and Section 12'01her Financial Instruments Issues, of FRS 102 to all of its financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls. when there is a legally ènforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. 8aslc financlal assets Basic financial assets, which include debtor5 and cash and bank balances, are Initially measured at transaction price including transaction costs and are subsequently carrièd al amortised cost using the effective inleiesl method unless the arrangement Conslilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets dassified as receivable within one year are not amortised. Derecognltlon of flnanclal assets Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Baslc financlal Ilabllltles Basic financial liabilities, Including creditors and bank loans are Initially recognised al transaction price unless the arrangement conslitules a financing transaction, where the debt Instrument is measured al the present value of the future payments discounted al a matkel rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade Creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction pri￿ and subsequently measured al amortised cost using the effective interest method. Der9¢0gnitlon of flnanclal Ilabilitles Financial liabilits'es are derecognised when the charity's contractual obligations expire or are discharged or cancelled. EXETER CITY SWIMMING CLUB (C.I.O.) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2025 Accountlng pollcles Icontlnuedl 1.9 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Events aftgr th9 rgporting datg On 1 October 2025, the assets, liabilities and activities of Exeter City Swimming Club Ithe unincorporated association) transferred to Exeter City Swimming Club CIO. From that dale, the CIO became responsible for delivering all of the Club's charitable activities.