T. A. D. Swimming Pool Association Ltd - Charities report - 19.2
T. A. D. Swimming Pool Association Ltd - Charities report - 19.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 March 2019 |
| for |
| Totnes and District Swimming Pool |
| Association Limited |
| Totnes and District Swimming Pool |
| Association Limited |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 10 |
| Totnes and District Swimming Pool |
| Association Limited (Registered number: 08998445) |
| Report of the Trustees |
| for the Year Ended 31 March 2019 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with |
| the financial statements of the charity for the year ended 31 March 2019. 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 2015). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The company is a charity and exists to provide swimming facilities to the people of Totnes and the surrounding area. We |
| have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing |
| our objectives. |
| Significant activities |
| The charity operates from its base at Borough Park, Totnes where it has one full size swimming pool, one gym with |
| changing rooms and a sauna. It is open from 7.30 to 21.45 Monday-Thursday, 7.00 to 21.30 on Friday, 8.00 to 18.00 on |
| Saturday and 8.00 to 16.30 on Sunday. |
| Volunteers |
| The charity's work is still undertaken by a committee of volunteers. Following the agreement with Fusion for the |
| operation of the centre, we no longer employ any staff. |
| All trustees are volunteers. |
| ACHIEVEMENT AND PERFORMANCE |
| We continue to work with Fusion to ensure the Centre improves and continues to provide affordable leisure facilities to |
| the people of Totnes and surrounding area. We do not have any responsibilities regarding the day to day running of the |
| centre. We do not receive any income at present, although the agreement states that we will receive an annual rental |
| payment after five years. We are not liable for any expenditure either, apart from the annual peppercorn rent on the pool |
| and gym. The agreement with Fusion stipulates that any changes must be firstly agreed with Totnes and District |
| Swimming Pool Association and then by South Hams District Council. |
| FINANCIAL REVIEW |
| Principal funding sources |
| The company currently receives no income from the public. |
| Reserves policy |
| From the unrestricted reserves £20,000 is to be set aside to meet future short term liabilities. |
| The remainder of the unrestricted reserves are intended to provide a buffer against future cut-backs, service disruptions |
| and a contingency to meet any unforeseen expenditure which may arise. In order to mitigate the risk of future funding |
| costs, or a service disruption, it is the charity's policy to retain an amount equivalent to 3 months core costs for running |
| the centre. |
| The Unrestricted reserves as at the 31 March 2019 are £177,793, which are sufficient to cover three months operating |
| cost for the core service and any anticipated professional costs.. |
| FUTURE PLANS |
| The lease of the councils side of the building has been obtained, taking effect from June 2017, and the agreement with |
| Fusion was also completed at the same time. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a written constitution, and constitutes a limited company, limited by |
| guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of new trustees |
| Trustees are recruited in line with the terms and conditions of the Memorandum and Articles of Association of the |
| charity. Trustees may be elected at the annual meeting, nominated by members or co-opted by the trustee board. |
| Totnes and District Swimming Pool |
| Association Limited (Registered number: 08998445) |
| Report of the Trustees |
| for the Year Ended 31 March 2019 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Organisational structure |
| Responsibility for the day-to-day management of the leisure centre is delegated to the manager. The trustee board sets |
| the policy, is involved with the ongoing strategic planning, makes financial decisions and helps set the framework for the |
| human resources policies. |
| Induction and training of new trustees |
| All new trustees are given induction materials from the leisure centre and are invited into the office to discuss and view |
| the work of the charity. |
| Related parties |
| No trustee, funder, member, officer or employee has undue control over, or significant interest in, the charity. Any |
| related party transactions, which require disclosure, are logged internally and reported appropriately as required under |
| both Company Act law and Charity law. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| - appointed 2.5.18 |
| - appointed 2.5.18 |
| Independent examiner |
| W R Frost & Co |
| Ashburton Road |
| TOTNES |
| Devon |
| TQ9 5JU |
| The principal officer during the year was Mrs Jan Maddick (Treasurer and Honorary Secretary) |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Totnes and District Swimming Pool |
| Association Limited (Registered number: 08998445) |
| Independent examiner's report to the trustees of Totnes and District Swimming Pool Association Limited ('the |
| Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2019. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for |
| the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act |
| and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried |
| out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the |
| Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the |
| examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. |
| 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 |
| P D Vooght FCA |
| ICAEW |
| W R Frost & Co |
| Riversdale |
| Ashburton Road |
| TOTNES |
| 7 November 2019 |
| Totnes and District Swimming Pool |
| Association Limited |
| Statement of Financial Activities |
| for the Year Ended 31 March 2019 |
| 2019 | 2018 |
| Unrestricted fund |
Restricted fund |
Total funds |
Total funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 366,087 |
| Totnes and District Swimming Pool |
| Association Limited (Registered number: 08998445) |
| Balance Sheet |
| At 31 March 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 177,793 | 216,087 |
| Restricted funds | 150,000 |
| TOTAL FUNDS | 366,087 |
| Totnes and District Swimming Pool |
| Association Limited (Registered number: 08998445) |
| Balance Sheet - continued |
| At 31 March 2019 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 March 2019. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 31 March 2019 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies |
| subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees on |
| Totnes and District Swimming Pool |
| Association Limited |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, 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 2015)', |
| Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
| convention. |
| 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. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but |
| not accrued as expenditure. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Long leasehold |
| Plant and machinery |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| 2. | INVESTMENT INCOME |
| 2019 | 2018 |
| £ | £ |
| Bank interest |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2019 | 2018 |
| £ | £ |
| Depreciation - owned assets |
| Other operating leases | - | 1 |
| Deficit on disposal of fixed asset |
| Reverse premium received | - | (150,000 | ) |
| Totnes and District Swimming Pool |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2019 nor for the year ended |
| 31 March 2018. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2019 nor for the year ended 31 March 2018. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2019 | 2018 |
| - | 4 |
| No employees received emoluments in excess of £60,000. |
| 6. | TANGIBLE FIXED ASSETS |
| Long leasehold |
Plant and machinery |
Totals |
| £ | £ | £ |
| COST |
| At 1 April 2018 |
| Disposals | ( |
) | ( |
) |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other debtors |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Totnes and District Swimming Pool |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 9. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
| 2019 | 2018 |
| Unrestricted fund |
Restricted fund |
Total funds |
Total funds |
| £ | £ | £ | £ |
| Fixed assets | 28,370 | - | 28,370 | 63,727 |
| Current assets | 150,673 | 150,000 |
| Current liabilities | ( |
) | ( |
) | ( |
) |
| 177,793 | 150,000 | 327,793 | 366,087 |
| 10. | MOVEMENT IN FUNDS |
At 1.4.18 |
Net movement in funds |
At 31.3.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 216,087 | (38,294 | ) | 177,793 |
| Restricted funds |
| Capital fund | 150,000 | - | 150,000 |
| TOTAL FUNDS | (38,294 | ) | 327,793 |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,886 | (40,180 | ) | (38,294 | ) |
| TOTAL FUNDS | ( |
) | (38,294 | ) |
| Comparatives for movement in funds |
At 1.4.17 |
Net movement in funds |
At 31.3.18 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 291,439 | (75,352 | ) | 216,087 |
| Restricted Funds |
| Capital fund | - | 150,000 | 150,000 |
| TOTAL FUNDS | 291,439 | 74,648 | 366,087 |
| Totnes and District Swimming Pool |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 69,390 | (144,742 | ) | (75,352 | ) |
| Restricted funds |
| Capital fund | 150,000 | - | 150,000 |
| TOTAL FUNDS | 219,390 | (144,742 | ) | 74,648 |
| 11. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 March 2019. |