9 false false false false false false true false false false false false true true No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023_Charity xbrli:pure xbrli:shares iso4217:GBP 6583359 2022-04-01 2023-03-31 6583359 2023-03-31 6583359 2022-03-31 6583359 2021-04-01 2022-03-31 6583359 2022-03-31 6583359 2021-03-31 6583359 core:LandBuildings 2022-04-01 2023-03-31 6583359 core:FurnitureFittings 2022-04-01 2023-03-31 6583359 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 6583359 char:Trustee1 2022-04-01 2023-03-31 6583359 char:Trustee2 2022-04-01 2023-03-31 6583359 char:Trustee3 2022-04-01 2023-03-31 6583359 bus:CompanySecretary1 2022-04-01 2023-03-31 6583359 char:TotalUnrestrictedFunds 2022-03-31 6583359 char:TotalRestrictedIncomeFunds 2022-03-31 6583359 char:TotalUnrestrictedFunds 2023-03-31 6583359 char:TotalRestrictedIncomeFunds 2023-03-31 6583359 char:TotalRestrictedIncomeFunds 2022-03-31 6583359 char:TotalUnrestrictedFunds 2022-03-31 6583359 char:TotalUnrestrictedFunds 2022-04-01 2023-03-31 6583359 char:TotalUnrestrictedFunds 2021-04-01 2022-03-31 6583359 char:TotalRestrictedIncomeFunds 2021-04-01 2022-03-31 6583359 char:Activity2 char:TotalUnrestrictedFunds 2022-04-01 2023-03-31 6583359 char:Activity2 2022-04-01 2023-03-31 6583359 char:Activity2 2021-04-01 2022-03-31 6583359 char:Activity2 char:TotalUnrestrictedFunds 2021-04-01 2022-03-31 6583359 core:LandBuildings 2022-03-31 6583359 core:FurnitureFittings 2022-03-31 6583359 core:LandBuildings 2023-03-31 6583359 core:FurnitureFittings 2023-03-31 6583359 core:WithinOneYear 2023-03-31 6583359 core:WithinOneYear 2022-03-31 6583359 core:LandBuildings 2022-03-31 6583359 core:FurnitureFittings 2022-03-31 6583359 bus:SmallEntities 2022-04-01 2023-03-31 6583359 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 6583359 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 6583359 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 6583359 bus:FullAccounts 2022-04-01 2023-03-31 6583359 core:ComputerEquipment 2022-04-01 2023-03-31 6583359 core:PlantMachinery 2022-04-01 2023-03-31 6583359 core:PlantMachinery 2023-03-31 6583359 core:PlantMachinery 2022-03-31
COMPANY REGISTRATION NUMBER: 6583359
CHARITY REGISTRATION NUMBER: 1128979
Stanhope Swimming Pool Limited
Unaudited Financial Statements
For the Year Ending
31 March 2023
Stanhope Swimming Pool Limited
Financial Statements
Year Ended 31 March 2023
Page
Trustees' Annual Report (Incorporating the Director's Report)
1
Independent Examiner's Report to the Trustees
3
Statement of Financial Activities (Including Income and Expenditure Account)
4
Statement of Financial Position
5
Notes to the Financial Statements
6
Stanhope Swimming Pool Limited
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 company for the year ended 31 March 2023 .
Objectives and Activities
The objects of the charity are to establish and maintain or to assist in establishing and maintaining an open air swimming pool at Stanhope aforesaid for the benefits of the inhabitants of Weardale and such other members of the public as desire to and to promote the benefit of the public by the advancement of instruction in swimming and other relevant water based activities and the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
The aim of the management committee is to maintain an attractive open-air swimming pool in Stanhope that is a good asset for the Weardale community.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Achievements and Performance
The 2022 Season was the first post covid that we could operate normally but as with the rest of the Swimming Pool sector in the UK, we suffered from high energy costs (helped by the our contracts not renewing till late August) but more importantly there was a regional shortage of life guards with current qualification certificates and few candidates wishing to train.
Although we ran a lifeguard training course we struggled through out the season to fully staff the sessions. We capped our swimmer numbers to match our staffing which affected our overall swimmer numbers for the season. With this and some indifferent weather during the season we attracted 5100 swimmers.
We continued to operate the online booking system which worked well but also offered tickets on the door. The cafe operated as normal.
We have continued to discuss the freehold with the landlord but the chasm between us if proving difficult to breach. Discussions are ongoing. After this season there is only one season left before the lease runs out and much of the plant needs expensive renewal so we take each problem as it arrives. If we can manage to renew the lease or purchase the freehold for long term stability the intention will be to develop refurbishment capital projects to be renew the facility.
We have many supporters in the local authority, social media and the web but the trick seems to be turning support into practical on the ground help.
We are still without a chairman.
Financial Review
The Trustees aim to maintain sufficient "free" reserves to meet the general running costs of the pool for one season. At 31st March 2023 this was estimated at approximately £50,000, excluding depreciation and development costs. Actual "free" reserves at 31st March 2023 were £18,605.
Structure, Governance and Management
Stanhope Swimming Pool Limited is a registered charity (charity number 1128979 ) and a limited company (company number 6583359 ). It was incorporated on 2nd May 2008 and registered as a charity on 2nd April 2009. It is governed by its memorandum and articles of association dated 7th April 2008.
It is managed by the trustees who meet 3-4 times a year formally and more frequently on an informal basis.
On 1st June 2009 the charity took over the assets, liabilities and activities of the unincorporated charity, Weardale Open Air Swimming Pool (charity number 517675).
Reference and Administrative Details
Registered charity name
Stanhope Swimming Pool Limited
Charity registration number
1128979
Company registration number
6583359
Principal office and registered
2 Union Lane
office
Stanhope
Bishop Auckland
County Durham
DL13 2XA
The Trustees
Mr J C Haynes
Dr J Webster
Dr A S Lumb
Company Secretary
Dr J Webster
Independent Examiner
Jane Ascroft FCA MA (Cantab)
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8XT
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 23 December 2023 and signed on behalf of the board of trustees by:
Dr J Webster
Company Secretary
Stanhope Swimming Pool Limited
Independent Examiner's Report to the Trustees of Stanhope Swimming Pool Limited
Year Ended 31 March 2023
I report to the trustees on my examination of the financial statements of Stanhope Swimming Pool Limited ('the company') 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 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 the company’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 financial statements do not accord with those records; 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.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT
23 December 2023
Stanhope Swimming Pool Limited
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
17,297
17,297
15,767
Charitable activities
6
24,770
24,770
6,798
Other income
7
15,143
--------
----
--------
--------
Total Income
42,067
42,067
37,708
--------
----
--------
--------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
8
94
94
20
Expenditure on charitable activities
9,10
65,791
65,791
38,611
--------
----
--------
--------
Total expenditure
65,885
65,885
38,631
--------
----
--------
--------
--------
----
--------
--------
Net expenditure and net movement in funds
( 23,818)
( 23,818)
( 923)
--------
----
--------
--------
Reconciliation of funds
Total funds brought forward
64,667
2,711
67,378
68,301
--------
-------
--------
--------
Total funds carried forward
40,849
2,711
43,560
67,378
--------
-------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Stanhope Swimming Pool Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible fixed assets
15
17,382
19,371
Current Assets
Stock
16
50
50
Debtors
17
389
668
Cash at bank and in hand
26,039
47,589
--------
--------
26,478
48,307
Creditors: amounts falling due within one year
18
300
300
--------
--------
Net Current Assets
26,178
48,007
--------
--------
Total Assets Less Current Liabilities
43,560
67,378
--------
--------
Funds of the Charity
Restricted funds
2,711
2,711
Unrestricted funds
40,849
64,667
--------
--------
Total charity funds
19
43,560
67,378
--------
--------
For the year ending 31 March 2023 the company 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 23 December 2023 , and are signed on behalf of the board by:
Mr J C Haynes
Trustee
Stanhope Swimming Pool Limited
Notes to the Financial Statements
Year Ended 31 March 2023
1. General Information
The company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2 Union Lane, Stanhope, Bishop Auckland, County Durham, DL13 2XA.
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 investments measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. The entity is a Public Benefit Entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
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. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Investment income is included when receivable. Admission income and shop income is included when receivable.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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 between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
Tangible Assets
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised.
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:
Leasehold Property
-
2% straight line
Solar PV
-
4% straight line
Equipment
-
25% 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 company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
4. Limited by Guarantee
The company is limited by guarantee. At 31st March 2023 there were 3 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.
5. Donations and Legacies
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
1,597
1,597
Grants
Grant from Durham County Council
15,700
15,700
--------
----
--------
17,297
17,297
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Donations
Donations
67
67
Grants
Grant from Durham County Council
15,700
15,700
--------
----
--------
15,700
67
15,767
--------
----
--------
6. Charitable Activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Pool takings
24,770
24,770
5,082
5,082
Court fines
140
140
Solar PV Feed In Tariff
1,576
1,576
--------
--------
-------
-------
24,770
24,770
6,798
6,798
--------
--------
-------
-------
7. Other Income
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
DCC Covid support grant
15,143
15,143
----
----
--------
--------
8. Costs of Other Trading Activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Fundraising costs
94
94
20
20
----
----
----
----
9. Expenditure on Charitable Activities by Fund Type
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Costs of charitable activities (see page 15)
65,791
65,791
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Costs of charitable activities (see page 15)
37,729
882
38,611
--------
----
--------
10. Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Total funds 2023
Total fund 2022
£
£
£
Costs of charitable activities (see page 15)
65,791
65,791
38,611
--------
--------
--------
11. Net Expenditure
Net expenditure is stated after charging/(crediting):
2023
2022
£
£
Depreciation of tangible fixed assets
1,989
2,031
-------
-------
12. Independent Examination Fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
360
360
----
----
13. Particulars of Employees
The total staff costs and employee benefits for the reporting period are analysed as follows:
2023
2022
£
£
Wages and salaries
20,940
8,427
--------
-------
The average head count of employees during the year was 9 (2022: 9 ). The average number of full-time equivalent employees during the year is analysed as follows:
2023
2022
No.
No.
Number of lifeguards
9
9
----
----
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
14. Trustee Remuneration and Expenses
The daughter and son of one of the trustees were employed as lifeguards during the 2022 season and received wages of £7,259 (2022 - £5,045).
Trustees were reimbursed expenses of £436 (2022 - £Nil) during the year.
15. Tangible Fixed Assets
Leasehold Property
Solar PV
Equipment
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
50,000
23,664
1,239
74,903
--------
--------
-------
--------
Depreciation
At 1 April 2022
47,833
6,629
1,070
55,532
Charge for the year
1,000
947
42
1,989
--------
--------
-------
--------
At 31 March 2023
48,833
7,576
1,112
57,521
--------
--------
-------
--------
Carrying amount
At 31 March 2023
1,167
16,088
127
17,382
--------
--------
-------
--------
At 31 March 2022
2,167
17,035
169
19,371
--------
--------
-------
--------
16. Stocks
2023
2022
£
£
Café stock
50
50
----
----
17. Debtors
2023
2022
£
£
Prepayments and accrued income
389
345
Other debtors
323
----
----
389
668
----
----
18. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
300
300
----
----
19. Analysis of Charitable Funds
Unrestricted funds
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
42,025
40,470
(63,890)
18,605
Capital funds
19,371
(1,989)
17,382
Fundraising
3,271
1,597
(6)
4,862
--------
--------
--------
--------
64,667
42,067
(65,885)
40,849
--------
--------
--------
--------
At 1 April 2021
Income
Expenditure
At 31 March 2022
£
£
£
£
General funds
40,723
36,065
(34,763)
42,025
Capital funds
21,402
(2,031)
19,371
Fundraising
2,650
1,576
(955)
3,271
--------
--------
--------
--------
64,775
37,641
(37,749)
64,667
--------
--------
--------
--------
Restricted funds
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
Development Fund
1,571
1,571
Pool repairs
1,140
1,140
-------
----
----
-------
2,711
2,711
-------
----
----
-------
At 1 April 2021
Income
Expenditure
At 31 March 2022
£
£
£
£
Development Fund
2,453
(882)
1,571
Pool repairs
1,073
67
1,140
-------
----
----
-------
3,526
67
(882)
2,711
-------
----
----
-------
20. Analysis of Net Assets Between Funds
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
17,382
17,382
Current Assets
23,767
2,711
26,478
Creditors less than 1 year
(300)
(300)
--------
-------
--------
Net assets
40,849
2,711
43,560
--------
-------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Tangible fixed assets
19,371
19,371
Current Assets
45,596
2,711
48,307
Creditors less than 1 year
(300)
(300)
--------
-------
--------
Net assets
64,667
2,711
67,378
--------
-------
--------