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COMPANY REGISTRATION NUMBER: SC102492
CHARITY REGISTRATION NUMBER: SC008522
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2023
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Statement of cash flows
8
Notes to the financial statements
9
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023 .
Reference and administrative details
Registered charity name
Poolewe & District Swimming Pool Association
Charity registration number
SC008522
Company registration number
SC102492
Principal office and registered
Poolewe Swimming Pool
office
Clilffton
Poolewe
Wester Ross
IV22 2JU
The trustees
Mr R Baxter
Mr P Townson
H Widdows
Mr R A Widdows
Independent examiner
M.J.Macnab BSc, FCCA
Tulloch Street
Dingwall
Ross-shire
IV15 9JY
Structure, governance and management
The charity, which is a registered charity with the Office of the Scottish Charity Regulator with Registration Number SC008522 , is registered as a charitable company limited by guarantee and was incorporated on 19 December 1986. The Memorandum and Articles of Association were amended and adopted on 28 February 2017.
The management of the charity is the responsibility of the Directors who are elected and co-opted under the terms of the Memorandum and Articles of Association. Directors are recruited from the company membership and appointed by ordinary resolution at the AGM. Any member of the company may apply to the current board or recommend the appointment of a fellow member to become a director of the company.
A Board of volunteer Directors made up of company members manages the organisation. The Board makes all major and strategic decisions about the organisation and Highlife Highland now make all day to day operational decisions.
All the directors of the company are also trustees of the charity, and their responsibilities include all the responsibilities of the directors under the Companies Act and of trustees under the Charities Act.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Objectives and activities
The advancement of public participation in sport and the provision of recreational facilities or the organisation of recreational facilities with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended by the building and operation of a swimming pool and related facilities.
The company operates a small community swimming pool in Poolewe.
Achievements and performance
Staffing:
The operation and management of the Pool continues to be carried out by Highlife Highland, who employ the staff, pay utility bills and all day to day running costs, including routine maintenance.
During this period, the management of the pool was transferred from Ian Goode to Ian McCloy.
Operating hours have been constrained by the difficulty in recruiting staff.
Building, Plant and Equipment:
No major building or plant repairs or replacements were carried out involving the Association but a replacement de humidifier is being investigated.
Pool Board:
At the 21 March 2023 AGM Anna Hainsworth was elected as a new Director and Trustee.
Although Highlife Highland now carry out the 'heavy lifting' in managing the Pool, there remains the need to recruit additional Trustees/Directors to refresh the Board, relieving very long serving members.
Face to face meetings are now rare, members generally maintaining contact by email.
Meetings are called when necessary, and members of the public and staff are entitled to attend these. These are very poorly attended.
Financial review
Highlife Highland continue to finance the operation and management of the pool, including directly employing the staff and paying the utility bills. The pool management committee remain responsible for plant and fabric maintenance.
The 300 Club has a healthy balance, despite declining membership, of £6,678 as at 31 March 2023 with a typical profit of over £2,000 annually after paying prizes. This usefully covers Association running costs such as insurance and accounting and recently funded a kayak safety course with £500. Reversing the declining membership of the 300 Club will be an important step in generating greater financial resilience.
As of 31 March, the main account held £27,847. This should provide the capacity to contribute to replacing a major capital item or form the basis for a major fund-raising campaign.
The Directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate the exposure to the major risks.
Plans for future periods
Whilst tempting to gift the Pool to the Highland Council and close the Association down this would demonstrate a lack of interest by the community and so any leverage in fighting moves to shut the Pool in response to savings measures.
A key priority activity for the next year will be to raise the profile of the Pool throughout the Community to:
i. Increase general awareness and engagement amongst the Community.
ii. Increase 300 Club and Association Membership.
iii. Improve Director/Trustee recruiting.
The Board remains grateful to Highlife Highland and its staff for their continued support in delivery a valuable local capability that supports wellbeing, recreation and teaches invaluable life skills.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 10 November 2023 and signed on behalf of the board of trustees by:
Mr R A Widdows
Trustee
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Poolewe & District Swimming Pool Association
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Poolewe & District Swimming Pool Association ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
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 the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of the Association of Chartered Certified Accountants which is one of the listed bodies.
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 charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or
2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or
3. the financial statements 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 financial statements 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.
M.J.Macnab BSc, FCCA Independent Examiner
Tulloch Street Dingwall Ross-shire IV15 9JY
10 November 2023
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2023
2023
2022
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
340
340
120
Other trading activities
6
3,624
3,624
3,816
-------
----
-------
-------
Total income
3,964
3,964
3,936
-------
----
-------
-------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
7
1,280
1,280
1,440
Expenditure on charitable activities
8,9
3,603
5,359
8,962
10,803
-------
-------
--------
--------
Total expenditure
4,883
5,359
10,242
12,243
-------
-------
--------
--------
-------
-------
--------
--------
Net expenditure and net movement in funds
( 919)
( 5,359)
( 6,278)
( 8,307)
-------
-------
--------
--------
Reconciliation of funds
Total funds brought forward
71,461
145,919
217,380
225,687
--------
---------
---------
---------
Total funds carried forward
70,542
140,560
211,102
217,380
--------
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible fixed assets
14
176,812
184,504
Current assets
Debtors
15
265
253
Cash at bank and in hand
34,525
33,079
--------
--------
34,790
33,332
Creditors: amounts falling due within one year
16
500
456
--------
--------
Net current assets
34,290
32,876
---------
---------
Total assets less current liabilities
211,102
217,380
---------
---------
Net assets
211,102
217,380
---------
---------
Funds of the charity
Restricted funds
140,560
145,919
Unrestricted funds
70,542
71,461
---------
---------
Total charity funds
17
211,102
217,380
---------
---------
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 10 November 2023 , and are signed on behalf of the board by:
Mr R A Widdows
Trustee
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
2023
2022
£
£
Cash flows from operating activities
Net expenditure
(6,278)
(8,307)
Adjustments for:
Depreciation of tangible fixed assets
7,692
8,507
Accrued expenses/(income)
44
( 198)
Changes in:
Trade and other debtors
( 12)
( 6)
-------
-------
Cash generated from operations
1,446
( 4)
-------
----
Net cash from/(used in) operating activities
1,446
( 4)
-------
----
Net increase/(decrease) in cash and cash equivalents
1,446
( 4)
Cash and cash equivalents at beginning of year
33,079
33,082
--------
--------
Cash and cash equivalents at end of year
34,525
33,078
--------
--------
Poolewe & District Swimming Pool Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is Poolewe Swimming Pool, Clilffton, Poolewe, Wester Ross, IV22 2JU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Limited by guarantee
The company is a private company limited by guarantee and consequently does not have share capital.
The members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of a winding up.
5. Donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Donations
Voluntary Income: Donations
340
340
120
120
----
----
----
----
6. Other trading activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
300 Club income
3,624
3,624
3,816
3,816
-------
-------
-------
-------
7. Costs of other trading activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Costs of other trading activities - Other activity 1
1,280
1,280
1,440
1,440
-------
-------
-------
-------
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Activity type 1
3,061
5,359
8,420
Activity type 19
Support costs
542
542
-------
-------
-------
3,603
5,359
8,962
-------
-------
-------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Activity type 1
3,103
6,103
9,206
Activity type 19
1,000
1,000
Support costs
597
597
-------
-------
--------
4,700
6,103
10,803
-------
-------
--------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2023
Total fund 2022
£
£
£
£
Activity type 1
8,420
8,420
9,206
Activity type 19
1,000
Governance costs
542
542
597
-------
----
-------
--------
8,420
542
8,962
10,803
-------
----
-------
--------
10. Net expenditure
Net expenditure is stated after charging/(crediting):
2023
2022
£
£
Depreciation of tangible fixed assets
7,692
8,507
-------
-------
11. Independent examination fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
234
222
----
----
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2023
2022
£
£
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
14. Tangible fixed assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
220,473
76,560
297,033
---------
--------
---------
Depreciation
At 1 April 2022
52,356
60,173
112,529
Charge for the year
4,409
3,283
7,692
---------
--------
---------
At 31 March 2023
56,765
63,456
120,221
---------
--------
---------
Carrying amount
At 31 March 2023
163,708
13,104
176,812
---------
--------
---------
At 31 March 2022
168,117
16,387
184,504
---------
--------
---------
15. Debtors
2023
2022
£
£
Prepayments and accrued income
265
253
----
----
16. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
500
456
----
----
17. Analysis of charitable funds
Unrestricted funds
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
71,461
3,964
(4,883)
70,542
--------
-------
-------
--------
At 1 April 2021
Income
Expenditure
At 31 March 2022
£
£
£
£
General funds
73,665
3,936
(6,140)
71,461
--------
-------
-------
--------
Restricted funds
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
Restricted Fund 1 - desc in a/cs
145,919
(5,359)
140,560
---------
----
-------
---------
At 1 April 2021
Income
Expenditure
At 31 March 2022
£
£
£
£
Restricted Fund 1 - desc in a/cs
152,022
(6,103)
145,919
---------
----
-------
---------
18. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
58,966
117,846
176,812
Current assets
11,576
22,714
34,290
--------
---------
---------
Net assets
70,542
140,560
211,102
--------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Tangible fixed assets
61,300
123,205
184,505
Current assets
10,161
22,714
32,875
--------
---------
---------
Net assets
71,461
145,919
217,380
--------
---------
---------
19. Analysis of changes in net debt
At 1 Apr 2022
Cash flows
At 31 Mar 2023
£
£
£
Cash at bank and in hand
33,079
1,446
34,525
--------
-------
--------