Brixham Admiral Swim Company Ltd - Charities report - 21.2
Brixham Admiral Swim Company Ltd - Charities report - 21.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| FOR |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2021 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 13 |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 June 2021 |
| The charity runs a community swimming pool and community room. It is a heated indoor pool and aims to provide opportunities for leisure and recreation, the teaching of swimming, swimming coaching through Brixham Swimming Club. It works closely with other agencies and groups and groups including the Torbay Care Trust, local schools and colleges, groups specialising in work with the disabled. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| To promote, provide and/or assist in the provision of leisure, health, educational and aquatic facilities for the benefit of the inhabitants of Brixham and the surrounding area. For recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life and lifestyle of the said inhabitants. |
| Significant activities |
| The charity considers maintaining the pool and its surrounds at a high level to be key to its operation. The Trustees continually look for ways to achieve energy efficiency and cost efficiencies as a result. |
| Public benefit |
| The trustees are aware of the charity commission's guidance on public benefit and have regard for it in their administration of the trust as illustrated by the pursuit of its objectives as set out in this report. |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 June 2021 |
| ACHIEVEMENT AND PERFORMANCE |
| Review of the year |
| CHAIRMAN’S REPORT |
| With the pandemic effects continuing in the leisure and hospitality sector we are very proud that we have been able to re-open the pool as soon as possible following lockdowns, providing a vital service to the local community, which many pools have not been able to do. In terms of actions we have: |
| · been successful in applying for a number of grants to help us through this |
| difficult year, to recover and re-open following COVID restrictions. These include:- |
| o Sport England: Return to Play (£1,040) |
| o Sport England Inequalities Fund - Active Devon (£5,064) |
| o National Lottery (£9,000); and |
| o Torbay Community Fund (£280) |
| · Used Furlough and other applicable Government COVID-19 related grants; |
| · Increased the use of volunteers to reduce salary costs for example to do the extra cleaning required because |
| of COVID regulations. The Swim Club have also helped with cleaning; |
| · continued with improved teacher/pupil ratios; |
| · Turned off unnecessary lights and reduced the pool temperature; and |
| · Advertised in Brixham Council’s newsletter ‘The Brixham Signal’ which is sent to everyone living in Brixham. |
| We are pleased that all the measures taken above have led to our finances improving again over the last year - all this despite having to |
| · restrict numbers of people using the pool; and |
| · close the pool at various times during the day for additional cleaning. |
| The Trustees consider that the charity has sufficient reserves and good prospects for the future. |
| The local community continue to support us and over the year. We have received several financial donations and we are very grateful for this and the continuing support of Brixham Swimming Club and all our volunteers. Thank you. |
| Mike Seffert, Chairman of the Board of Trustees |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 June 2021 |
| FINANCIAL REVIEW |
| Reserves policy |
| The Trustees consider it appropriate that the objective of the reserves policy is to protect the organisation against future events and that a level of reserves are held to protect the charity from closure should financial difficulties arise. |
| The Trustees consider that the minimum reserve level is the minimum cash balance of the organisation available for 3 months of keeping the pool open at minimum running costs. The upper limit for reserves being for 12 months of minimum running costs: |
| Minimum | Upper limit |
| Salary Cost of two full time employees | £13,388 | £53,550 |
| Minimum running costs (at 50%) | £9,287 | £37,147 |
| Total reserve | £22,675 | £90,697 |
| Running costs being: Cleaning & Hygiene, Insurance, chemicals, admin costs, rent and rates and all utilities. |
| This year has seen no change to the method of the reserves calculation. |
| The Trustees consider that in the unlikely event of the charity having to cease operations, the minimum cash and investment reserve together with the value of non-cash net assets would be sufficient to pay winding up liabilities. |
| Should these reserves fall below this level, for whatever reason, immediate steps will be taken to reinstate them over a reasonable period. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by Memorandum and Articles of Association drawn up on incorporation, 5th June 2006, as amended on 15th November 2006 and on 28th February 2017, and by a certificate of change of name dated 27th January 2009. The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Organisational structure |
| Trustees are appointed to reflect the needs of the charity - organisational, human relations, financial and legal. They are appropriately trained on the lines suggested by the Commission and keep up to date by attendance at professional seminars and/or reading professional and Commission publications. |
| Whilst accepting responsibility for all aspects of the Company, day to day management is delegated to the Centre Manager, Phil Thomas, who leads the team. |
| The Trustees meet monthly to review all aspects of the Trust's work. The Centre Manager is always present at these meetings for relevant agenda items. |
| Each worker is allotted a trustee as a personal mentor. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 June 2021 |
| Trustees |
| Company Secretary |
| Independent Examiner |
| I P Barrett |
| FCA FCIE |
| Barretts |
| Chartered Accountants & |
| Chartered Tax Advisers |
| 22 Union Street |
| Newton Abbot |
| Devon |
| TQ12 2JS |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| Independent examiner's report to the trustees of Brixham Admiral Swim Company Ltd ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021. |
| 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 P Barrett |
| FCA FCIE |
| Barretts |
| Chartered Accountants & |
| Chartered Tax Advisers |
| 22 Union Street |
| Newton Abbot |
| Devon |
| TQ12 2JS |
| 22 December 2021 |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| for the Year Ended 30 June 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 505,678 |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| BALANCE SHEET |
| 30 June 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Stocks | 9 |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 12 |
| Unrestricted funds | 505,678 |
| TOTAL FUNDS | 505,678 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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. |
| BRIXHAM ADMIRAL SWIM COMPANY LTD (REGISTERED NUMBER: 05837232) |
| BALANCE SHEET - continued |
| 30 June 2021 |
| 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 and authorised for issue on |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2021 |
| 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 2019)', 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. |
| 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: |
| Leasehold improvements - straight line over 21 years, being the length of the lease |
| Plant & machinery - 20% per annum 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 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. |
| 2. | OTHER TRADING ACTIVITIES |
| 2021 | 2020 |
| £ | £ |
| Covid support grant | - | 24,817 |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 3. | INVESTMENT INCOME |
| 2021 | 2020 |
| £ | £ |
| Bank account interest |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2021 | 2020 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020. |
| 6. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2021 | 2020 |
| Employees |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| Total |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 562,650 | - |
| TOTAL FUNDS CARRIED FORWARD | 505,678 | - | 505,678 |
| 8. | TANGIBLE FIXED ASSETS |
| Long | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2020 and 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 9. | STOCKS |
| 2021 | 2020 |
| £ | £ |
| Stocks |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| 12. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.7.20 | in funds | 30.6.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 505,678 | (20,265 | ) | 485,413 |
| TOTAL FUNDS | (20,265 | ) | 485,413 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 190,260 | (210,525 | ) | (20,265 | ) |
| Restricted funds |
| Restricted grants | 6,104 | (6,104 | ) | - |
| TOTAL FUNDS | ( |
) | (20,265 | ) |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.7.19 | in funds | 30.6.20 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 562,650 | (56,972 | ) | 505,678 |
| TOTAL FUNDS | 562,650 | (56,972 | ) | 505,678 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 217,995 | (274,967 | ) | (56,972 | ) |
| TOTAL FUNDS | 217,995 | (274,967 | ) | (56,972 | ) |
| BRIXHAM ADMIRAL SWIM COMPANY LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2021 |
| 12. | MOVEMENT IN FUNDS - continued |
| Two grants were received in the year from Sport England: |
| Sport England: Return to Play (£1,040) |
| Sport England Inequalities Fund - Active Devon (£5,064) |
| Both grants were spent in the year. |
| 13. | RELATED PARTY DISCLOSURES |