West Leigh Swim School Limited - Charities report - 19.2
West Leigh Swim School Limited - Charities report - 19.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED |
| 31 AUGUST 2019 |
| FOR |
| WEST LEIGH SWIM SCHOOL LIMITED |
| WEST LEIGH SWIM SCHOOL LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| Page |
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 to 5 |
| Notes to the Financial Statements | 6 to 10 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 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 August 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). |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by |
| guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| - deceased 27.11.18 |
| - appointed 5.12.18 |
| Company Secretary |
| Independent examiner |
| Segrave & Partners LLP |
| Chartered Accountants |
| 1208/1210 London Road |
| Leigh on Sea |
| Essex |
| SS9 2UA |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| WEST LEIGH SWIM SCHOOL LIMITED |
| Independent examiner's report to the trustees of West Leigh Swim School Limited ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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 |
| I Hay |
| Segrave & Partners LLP |
| Chartered Accountants |
| Turnpike House |
| 1208/1210 London Road |
| Leigh on Sea |
| Essex |
| SS9 2UA |
| 15 November 2019 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 2019 | 2018 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds | 4 |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 11,005 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| BALANCE SHEET |
| AT 31 AUGUST 2019 |
| 2019 | 2018 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Stocks | 10 |
| Debtors | 11 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 12 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 13 |
| Unrestricted funds | 11,045 | 11,005 |
| TOTAL FUNDS | 11,005 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| BALANCE SHEET - CONTINUED |
| AT 31 AUGUST 2019 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 August 2019. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 31 August 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 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Fixtures and fittings |
| Computer equipment |
| 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 corporation 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. |
| 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. |
| 2. | OTHER TRADING ACTIVITIES |
| 2019 | 2018 |
| £ | £ |
| Contracts | 130,130 | 128,923 |
| Sale of drinks and snacks | 75 | 463 |
| Sale of hats and badges | 2,184 | 2,715 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 3. | INVESTMENT INCOME |
| 2019 | 2018 |
| £ | £ |
| Deposit account interest |
| 4. | RAISING FUNDS |
| Other trading activities |
| 2019 | 2018 |
| £ | £ |
| Opening stock |
| Purchases |
| Closing stock | ( |
) | ( |
) |
| Support costs | 126,116 | 127,557 |
| 132,364 | 131,382 |
| 5. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2019 | 2018 |
| £ | £ |
| Depreciation - owned assets |
| Other operating leases | 52,000 | 56,000 |
| 6. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2019 nor for the year ended |
| 31 August 2018. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2019 nor for the year ended 31 August 2018. |
| 7. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2019 | 2018 |
| Administrators | 1 | 1 |
| Teachers | 8 | 8 |
| Lifeguards | 4 | 4 |
| No employees received emoluments in excess of £60,000. |
| WEST LEIGH SWIM SCHOOL LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Other trading activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 10,256 |
| TOTAL FUNDS CARRIED FORWARD | 11,005 |
| 9. | TANGIBLE FIXED ASSETS |
| Fixtures and fittings |
Computer equipment |
Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| Additions |
| At 31 August 2019 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| 10. | STOCKS |
| 2019 | 2018 |
| £ | £ |
| Stocks |
| WEST LEIGH SWIM SCHOOL LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Prepayments |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Accrued expenses |
| 13. | MOVEMENT IN FUNDS |
At 1.9.18 |
Net movement in funds |
At 31.8.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 11,005 | 40 | 11,045 |
| TOTAL FUNDS | 40 | 11,045 |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 132,404 | (132,364 | ) | 40 |
| TOTAL FUNDS | ( |
) | 40 |
| Comparatives for movement in funds |
At 1.9.17 |
Net movement in funds |
At 31.8.18 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 10,256 | 749 | 11,005 |
| TOTAL FUNDS | 10,256 | 749 | 11,005 |
| WEST LEIGH SWIM SCHOOL LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 13. | 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 | 132,131 | (131,382 | ) | 749 |
| TOTAL FUNDS | 132,131 | (131,382 | ) | 749 |
| A current year 12 months and prior year 12 months combined position is as follows: |
At 1.9.17 |
Net movement in funds |
At 31.8.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 10,256 | 789 | 11,045 |
| TOTAL FUNDS | 10,256 | 789 | 11,045 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 264,535 | (263,746 | ) | 789 |
| TOTAL FUNDS | 264,535 | (263,746 | ) | 789 |
| 14. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 August 2019. |