SWIM TORQUAY LIMITED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 ST OCTOBER, 2020 SWIM TORQUAY LIMITED INDEX TO THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 ST OCTOBER, 2020 PAGE NO. Directors, and l-rLislees' report 2. Protit and Loss AcLoLiiII 3-4. Balance Sheet 5-6. Notes to the Financial Statements 7-8 Tradincy and Profit and Loss Account 9. Independent accountant's report SWIM TORQUAY LIMITED REPORT OF THE DIRECTORS AND TRUSTEES The directors and trustees present their report and tlie financial statements for the year ended 31 st October, 20?0. PRINCIPAL OBJECTS AND ACTIVITIES The principal object and activity of the compaiiy continues to be tliat of rLinning a public swimming pool, in accordance wilh the Meinorandum and Articles of Association of the company. REVIEW The company runs tlie pool arid t"aLilities 011 a sLIt"_f Iiiancing basis, CHARITABLE STATUS The company is a rLJgiislei"Ld cliarity. RESULTS The results for the )ieai" are set OLIt in tlie Protit and Loss Accouiit. DIRECTORS The directors througyhout the year were as follows:_ R.G.W. Maroetts, D. Roberts. P. Tysoe. L. Pitts. K Merritt. The company is limited by guarantee and the directors have no beneficial interest in any shares. ADMINISTRATION The running of the pool is undertaken by a management committee., The members throughout the year were as follows: Mr. R. Margetts. Mr. L. Pitts, Mr. P. Tysoe, Mrs. C. Waldock, Mr. R Downing: Ms. K. Sundholm, Mrs. R Ives, Mr. A Boulton, Mrs. K, Merrick EXEMPTION In preparing this report, the directors have taken advantage of the special exemptions available to small coinpanies. BY ORDER OF THE BOARD This report was approved by the Board of Directors and the Trustees on I 's>c c Director REGISTERED OFFICE: St Pauls Road, Plainmoor, Torquay, TQI 3QP BANKERS: National Westminster Bank plc, 108 Union Street, Torquay, TQ25PH REGISTERED COMPANY NUMBER: 01?14?1] REGISTERED CHARITY NUMBER: 27?712 Page I SWIM TOR UAY LTD UNAUDITED PRofIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31.10.20 31.10.?0 31.10.19 NOTES Turnover Cost of sales GROSS PRofIT ADMINISTRATIVE COSTS 146928 269140 1074 2490 145854 266650 ?24940 280824 Other operatingy inconie OPLRATING LOSS FOR THf YF,AR -79086 -14174 109413 18731 Noii tradingy inconie Profit/loss on ordinary actii'ities bLfoi'L la,xatioii Losses brought fonvard RLtained profits / loss carried forward 30327 4557 1290 3790 31617 8347 -9078 -174?5 22539 -9078 Tlie coiiipany has neither aquired or commenced any new business activities in the year nor discontinued any operations and it has no recognised gains or losses other than the prof it/loss for the year Tliere is no material difference between the profit for this ye￿. aiid tlie prior year as showii above and that on the historical co.st basis TIIL notes set out on pages 5 to 6 form an integral part of these accounts Bookin(ys schools pagye 2 SII'IM TOR UAY LTD BALANCE SHEET AT 31 ST OCI-OBER 20?0 31.10.20 31.10.19 Note FIXED ASSETS 3089?9 329082 CURRENT ASSETS Stock Debtors and prcpayineiits Bank deposit Baiik Fuiidraisiiig Deposit Baiik CLirrciit Casli in haiid 1?19 12430 i 0000 23613 18?66 161 1258 17680 i 0000 15606 3763 879 65689 49186 DEDUCT Creditors aiid accriials Aniounts due witliiii l year Trade creditors Oilier creditors Loaii Torba), Couiici I 15082 7818 1500 20918 15596 1500 24400 38014 NET CURRENT ASSETS 41289 11179 LONG TIRM LIABILITIES Loaii Torba), Council 10 -18750 -20250 3J1468 320004 RetaiiiLd profits At I st Nc)veniber, ?019 SLirplLlS for tlie J'ear -9078 J1617 ?2539 308929 -17425 8347 -9078 3?908? RLI'aluation reserve Carried forward 31 .10.2020 331468 320004 Coiitinued 011 page 4 pagie 3 SWIM TORQUAY LIMITED UNAUDITED BALANCE SHEET (continiied from the previous page) In the directors, opinion tlie coinpany was entiiled uiider section 447(?) of the Companies Act 2006 to e,xemption from tlie audit of its accounts foi" tlie yec2r ended 31 st October 2090. The members have Iiot reqLiired tlie coiiipaiiy to obtain an aLidit in accordance with section 476 of the Compaiiies Act The directors and trusteis ackiiowlediye tlieir I"esponsibi lity t-or: ensurinly tlie coinpany keeps aLCOUlltiiig rLLords which comply with the Companies Act 2006 and preparing aLLOLiiils 11,IIiLlI g)iVL a IrLIL aiicl fair view of the %tate of affairs of the company as at the end of tliL finc2llLial N Lar, aiid ot" its profit or loss for the financial year in accordance with tlie requireniLllts of the relevant and whicli otherwise comply with the requirements of the Companies Act relating to accounts so far as applicable to the company. Tlie accounts have been prepared in accordance with the special provisions in Part VII of the Companies Act 1985 relating to small companies. Approved by the board on i ( Di I"ector The notes on pages 5 to 6 form an inte(Tral part of these accounts Page 4 SWIM TORQUAY LIMITED NOTES TO THE UNAUDITED ACCOUNTS FOR TI IE YEAR ENDED 31 ST OCTOBER, 2020 I. ACCOUNTING POLICIES a) Accounting Convention These financial stateinents have been prepcired under the historical cost convention. b) Depreciation Depreciation is calcLilated to Ivi"ite ot"t" tliL CO£it of tangyible fixed assets in equal annual installments over thLir usef-ul lives as set out beloiv:_ l.easeliold Property ?5 years, this being tlie reinaining terin of the lease Fixtures. Fittings and Equipment 20 % per annum. c) Stocks Slocks are stated at the lower of cost or net realizable value ? PROPERTY VALUATION The leasehold property was revalued in 2013 at the cost of the major renovation work undertaken during the year. 3. TURNOVER Turnover represents the amount of takingys, bookings and sales to custoiners during the year. 4. STAFF COSTS 2020 2019 Wages and salaries Social security costs Pension costs Self employed teachers 154735 2741 20Jl 1538 177069 4861 2620 3673 161045 188223 5 OPERATING LOSS / PROFIT This is stated after charging Depreciation ?0153 20153 Page 5 %W'IM TOR UAY LIMITED NOTFS TO THL UNAUDITED ACCOUNTS FOR THL YEAR ENDED 3 1ST OCTOBER 2020 Fixtures. Fittiii and ui 6 TANGIBLE FIXED ASSETS Land and Buildin, Total COST/VALUATION At I st Noveniber 2019 Renovation costs Less Grant Sport Engyland At 31 st OclobLr 2020 35,139 500,000 -50,000 485,139 23,962 100,000 -1 00.000 23.962 59.101 600,000 -150,000 509,101 DF.PRECIATION At I st November 2019 Provision for the year At 31 st October ?O?O 156057 20153 2396? 159866 20153 176210 23962 180019 NET BOOK VAI.IJE At I st Noveiiiber ?019 Depreciation t.or tlie yLai' Balaiice at 31.10.?o?o 329082 20153 329082 20153 308,929 308,9?9 The Leasehold property was revalued in 2013 at the cost of the major renovation work uiidertaken durin(y the year less the amount of the grant received from Sport England. 2020 2019 7 DFBTORS Trade debtors Other debtors 6580 5850 10850 6830 1?4JO 17680 8 BANK BALANCES 51879 34641 9 CREDITORS: aniounts falling duL within oiie year Trade creditors & accruals Accruals Other creditors Loan TBC 7059 8023 7818 1500 11718 9200 15596 1500 24400 38014 10 LOAN The long term loan of £30,000 froni Torbay Council is repayable in equal quarterly instalments, the final instalineiit being due on 1 .4.2034 I I REVALUATION RESERVE Brought fonvard Depreciation for the ye£ Carried forward 01.11.2019 329082 ?0153 349?35 ?0153 31.10 ?0?0 308929 3?908? Pagje 6 SWIM TOR UAY LTD For the information of the mana ement cor IJNAUDITED TRADING & PROFIT & LOSS ACCOUNT Year ended Year ended 31.10.19 Year elided 31 st October 2020 31.10.20 INCOME Entr