REGISTERED CHARITY NUMBER: 282020
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
FOR
ENGLISH SCHOOLS SWIMMING ASSOCIATION
Killicks Limited 35/37 Kingsway Kirkby in Ashfield Nottinghamshire NG17 7DR
ENGLISH SCHOOLS SWIMMING ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
ENGLISH SCHOOLS SWIMMING ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
The trustees present their report with the financial statements of the charity for the year ended 31 July 2022. 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).
The trustees have had due regard to guidance published by the Charity Commission on public benefit.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Association is the advancement of physical education of schoolchildren through the medium of swimming, life-saving, diving, water polo and synchronized swimming. In furtherance of these objects, the Association:
(a) promotes and organises contests, conducts tests and makes awards: and
- (b) promotes the provision of proper facilities for swimming, life-saving, diving, water polo and synchronized swimming.
Significant activities
The English Schools Swimming Association continues to work closely with the Amateur Swimming Association, the National Council for School Sports, Swimming Advisory Group and the DCMS. Members of Council have continued to attend meetings with the ASA, NCSS and the Youth Sports Trust.
Volunteers
The charity has a number of volunteers who give up much of their time to help run events each year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
With the comparative easing of Covid 19, our Association has been able to undertake the majority of IT's activities. These included participation in the ISF Gymnasiade held in Normandy, France. Although, because of the change of date, we had no participants in the London Marathon.
During this time we have made regular contact with Swim England and the grant we receive from them has been resumed with the first tranche of this year's payment paid in full.
Our investments have continued to be relatively stable during these difficult times and we remain in a solid position. We must again thank the Hon. Treasurer, our Accountant and our Investment Adviser who through our regular contact offers us sound advice.
We will continue to act with prudency and careful planning and ensure we undertake good governance of the Association.
FINANCIAL REVIEW
Reserves policy
The trustees endeavour to maximise their reserves in order to ensure that its activities continue into the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The charity has had no plans for the recruitment and appointment of new trustees. The charity co-opts individuals with relevant experience onto councils where appropriate.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
282020
Page 1
ENGLISH SCHOOLS SWIMMING ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
Principal address
Mulina Pyrford Woods Pyrford Woking GU22 8QT
Trustees
J Stiven J Bedford Mrs M Bracey
Independent Examiner
Killicks Limited 35/37 Kingsway Kirkby in Ashfield Nottinghamshire NG17 7DR
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J Stiven - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENGLISH SCHOOLS SWIMMING ASSOCIATION
Independent examiner's report to the trustees of English Schools Swimming Association
I report to the charity trustees on my examination of the accounts of English Schools Swimming Association (the Trust) for the year ended 31 July 2022.
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
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.
M. Stafford FCA FCCA Killicks Limited 35/37 Kingsway Kirkby in Ashfield Nottinghamshire NG17 7DR
Date: .............................................
Page 3
ENGLISH SCHOOLS SWIMMING ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 448 Charitable activities General 101,193 Other trading activities 3 17,168 Investment income 4 2,137 Other income 40 Total 120,986 EXPENDITURE ON Raising funds 6 16,993 Charitable activities General 161,216 Other 17,597 Total 195,806 Net gains/(losses) on investments (16,848) NET INCOME/(EXPENDITURE) (91,668) RECONCILIATION OF FUNDS Total funds brought forward 339,278 TOTAL FUNDS CARRIED FORWARD 247,610 |
2021 Total funds £ - 42,868 - 2,280 559 |
|---|---|
| 45,707 | |
| 3,703 2,960 17,824 |
|
| 24,487 | |
| 28,250 | |
| 49,470 289,808 |
|
| 339,278 |
The notes form part of these financial statements
Page 4
ENGLISH SCHOOLS SWIMMING ASSOCIATION
BALANCE SHEET
31 JULY 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 154 Investments 9 197,280 197,434 CURRENT ASSETS Stocks 10 7,481 Debtors 11 3,719 Cash at bank 42,656 53,856 CREDITORS Amounts falling due within one year 12 (3,680) NET CURRENT ASSETS 50,176 TOTAL ASSETS LESS CURRENT LIABILITIES 247,610 NET ASSETS 247,610 FUNDS 13 Unrestricted funds 247,610 TOTAL FUNDS 247,610 |
2021 Total funds £ 309 214,468 214,777 18,369 2,696 106,426 127,491 (2,990) 124,501 339,278 339,278 339,278 339,278 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
J Stiven - Trustee
The notes form part of these financial statements
Page 5
ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements are drawn up using the going concern basis. However, in the present difficult economic climate, it is difficult to gauge the level of incoming resources for a period of more than one year. The trustees have no reason to believe however that funding will cease and, indeed, the level of reserves held at the balance-sheet date are more than adequate to keep the charity running, even in the current restrictions caused by the Covid-19 pandemic.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
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.
Computer equipment
- 33% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
1. ACCOUNTING POLICIES - continued
Investments
Investments (listed) are shown at their market values at the balance sheet date. Any increase or decrease in value from one year to the next is taken to accumulated funds.
2. DONATIONS AND LEGACIES
| Donations 3. OTHER TRADING ACTIVITIES Fundraising events 4. INVESTMENT INCOME Dividends received Bank interest 5. INCOME FROM CHARITABLE ACTIVITIES Internationals Divisional championships Primary teams Secondary teams ASA Grants Water Polo Duke of Cambridge W/P |
2022 2021 £ £ 448 - 2022 2021 £ £ 17,168 - 2022 2021 £ £ 2,125 2,269 12 11 2,137 2,280 2022 2021 Total General activities £ £ 13,900 - 18,772 - 5,120 - 9,948 - 46,907 42,398 5,254 470 1,292 - 101,193 42,868 |
|---|---|
continued...
Page 7
ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
6. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Portfolio management | 3,371 | 3,703 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
Expenses of £4,116 (2021: £2,532) were paid to two trustees during the year in respect of running costs incurred on behalf of the charity.
8. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Computer | |
| equipment | |
| £ | |
| COST | |
| At 1 August 2021 and 31 July 2022 | 463 |
| DEPRECIATION | |
| At 1 August 2021 | 154 |
| Charge for year | 155 |
| At 31 July 2022 | 309 |
| NET BOOK VALUE | |
| At 31 July 2022 | 154 |
| At 31 July 2021 | 309 |
| FIXED ASSET INVESTMENTS | |
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 August 2021 | 214,468 |
| Additions | 54,698 |
| Disposals | (55,038) |
| Changes in market value | (16,848) |
| At 31 July 2022 | 197,280 |
| NET BOOK VALUE | |
| At 31 July 2022 | 197,280 |
| At 31 July 2021 | 214,468 |
9. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
continued...
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ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
9. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 July 2022 is represented by:
| Listed | ||||||
|---|---|---|---|---|---|---|
| investments | ||||||
| £ | ||||||
| Valuation in 2022 | 197,280 | |||||
| 10. | STOCKS | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Stocks | 7,481 | 18,369 | ||||
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Prepayments and accrued income | 3,719 | 2,696 | ||||
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Accrued expenses | 3,680 | 2,990 | ||||
| 13. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At | 1.8.21 | in funds | 31.7.22 | |||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 339,278 | (91,668) | 247,610 | |||
| TOTAL FUNDS | 339,278 | (91,668) | 247,610 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 120,986 | (195,806) | (16,848) | (91,668) | ||
| TOTAL FUNDS | 120,986 | (195,806) | (16,848) | (91,668) |
continued...
Page 9
ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.20 | in funds | 31.7.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 289,808 | 49,470 | 339,278 |
| TOTAL FUNDS | 289,808 | 49,470 | 339,278 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 45,707 | (24,487) | 28,250 | 49,470 |
| TOTAL FUNDS | 45,707 | (24,487) | 28,250 | 49,470 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.20 | in funds | 31.7.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 289,808 | (42,198) | 247,610 |
| TOTAL FUNDS | 289,808 | (42,198) | 247,610 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 166,693 | (220,293) | 11,402 | (42,198) |
| TOTAL FUNDS | 166,693 | (220,293) | 11,402 | (42,198) |
continued...
Page 10
ENGLISH SCHOOLS SWIMMING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2022.
Page 11
ENGLISH SCHOOLS SWIMMING ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Fundraising events Investment income Dividends received Bank interest Charitable activities Internationals Divisional championships Primary teams Secondary teams ASA Grants Water Polo Duke of Cambridge W/P Other income Sundry income Total incoming resources EXPENDITURE Other trading activities Goods presented at Championships Investment management costs Portfolio management Charitable activities Awards to divisions Divisional championships Internationals Primary teams Secondary teams Water Polo Duke of Cambridge W/P Carried forward |
2022 £ 448 17,168 2,125 12 2,137 13,900 18,772 5,120 9,948 46,907 5,254 1,292 101,193 40 120,986 13,622 3,371 8,000 58,693 19,331 15,090 24,429 7,266 2,807 135,616 |
2021 £ - - 2,269 11 |
|---|---|---|
| 2,280 - - - - 42,398 470 - |
||
| 42,868 559 |
||
| 45,707 - 3,703 - 900 - - - 422 - 1,322 |
This page does not form part of the statutory financial statements
Page 12
ENGLISH SCHOOLS SWIMMING ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| Charitable activities Brought forward Medals, shields etc. Donations Fundraising expenses Support costs Management Affiliations and subscriptions Delegates' expenses Promotion and publicity Trustees' expenses Miscellaneous Independent Examiner's fees Insurance Computer equipment Total resources expended Net (expenditure)/income before gains and losses Recognised gains (losses) Gains/(losses) on fixed asset investments Net (expenditure)/income |
2022 £ 135,616 3,538 216 13,622 152,992 475 2,320 52 2,698 7,228 2,040 10,854 154 25,821 195,806 (74,820) (16,848) (91,668) |
2021 £ 1,322 - 294 - |
|---|---|---|
| 1,616 - - 52 972 5,307 1,920 10,763 154 |
||
| 19,168 | ||
| 24,487 | ||
| 21,220 28,250 |
||
| 49,470 |
This page does not form part of the statutory financial statements
Page 13