King Edward VII School Swimming Pool - Charities report

REGISTERED COMPANY NUMBER: 02763474 (England and Wales)

REGISTERED CHARITY NUMBER: 1068928

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

King Edward VII School Swimming Pool

Trust

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

13

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 December 2024. 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objective of the company is to provide and manage a full range of swimming pool services for the people of Sheffield in accordance with the terms of its charitable status.

Significant activities

The company's principal activities are (i) the provision of children's swimming lessons and (ii) a range of services to the general public which in the year to 31st December 2024 generated income of £206,728 (55.7%) \2023 £204,512 (59.5%)\, and £112,227 (30.2%) \2023 £98,018 (28.5%) \ respectively.Other miscellaneous income amounted to £52,262 (14.1%) \2022 £41,380 (12.0%)\ .

Public benefit

All the company's facilities are available to the wider community of Sheffield.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The company's activities are either educational or community based and as such satisfy the necessary charitable criteria.

FINANCIAL REVIEW

Financial position

The company continues to be in a relatively sound financial position.

Reserves policy

The policy of the company is to manage its business in a prudent and conservative manner such that reserves are maximised and all legal requirements are satisfied.

It is the directors' policy to build up the company's free reserves to a level which will be sufficient to cover all expenses for a minimum of 3 months.

REFURBISHMENT PLANS

The company continues to spend all surplus resources on an ongoing programme of refurbishment.In the future the company expects to refurbish the men's changing room facilities.

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.

Recruitment and appointment of new trustees

The company seeks to maintain a board of no less that 5 trustees each of whom has a specialist skill to offer. The board of trustees is fully cognisant of the benefits of gender diversity.

Organisational structure

In a normal year the company has a general manager, 2 supervisors and approximately 12 part time staff, all of whom are either qualified teachers and/or lifeguards

All staff meet all regulatory requirements and attend regular training courses.

Decision making

The day to day operations of the company are the responsibility of the general manager, who reports to the board of trustees; major decisions on issues such as fundraising and capital expenditure are taken by the trustees in co-operation with the general manager.

Induction and training of new trustees

New trustees with specialist expertise are inducted as and when appropriate.

Related parties

The company enjoys a close relationship with Sheffield City Council, who are freeholders of the pool facility.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02763474 (England and Wales)

Registered Charity number

1068928

Registered office

49 Heather Lea Avenue

Sheffield

S17 3DL

Trustees

P Kay

M Jacobi (resigned 31.3.25)

C L Moriarty

J Appleby (resigned 31.3.25)

C J Grant

Company Secretary

P Kay

Independent Examiner

D Mangles FCA

Heather Lea Business Services

49 Heather Lea Avenue

Sheffield

S17 3DL

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 30 September 2025 and signed on its behalf by:

C L Moriarty - Trustee

Independent examiner's report to the trustees of King Edward VII School Swimming Pool Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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 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.

D Mangles FCA

The Institute of Chartered Accountants in England and Wales

Heather Lea Business Services

49 Heather Lea Avenue

Sheffield

S17 3DL

30 September 2025

31.12.24

31.12.23

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME FROM

Grants

2

59,928

-

59,928

13,250

Other trading activities

3

371,217

-

371,217

343,910

Investment income

4

1,729

-

1,729

1,078

Total

432,874

-

432,874

358,238

EXPENDITURE ON

Other trading activities

5

456,863

-

456,863

342,236

NET INCOME/(EXPENDITURE)

(23,989

)

-

(23,989

)

16,002

RECONCILIATION OF FUNDS

Total funds brought forward

87,942

-

87,942

71,940

TOTAL FUNDS CARRIED FORWARD

63,953

-

63,953

87,942

31.12.24

31.12.23

Unrestricted

Restricted

Total

fund

funds

Notes

£

CURRENT ASSETS

Debtors

10

5,930

-

5,930

2,824

Cash at bank and in hand

120,967

-

120,967

150,704

126,897

-

126,897

153,528

CREDITORS

Amounts falling due within one year

11

(62,944

)

-

(62,944

)

(65,586

)

NET CURRENT ASSETS

63,953

-

63,953

87,942

TOTAL ASSETS LESS CURRENT
LIABILITIES

63,953

-

63,953

87,942

NET ASSETS

63,953

-

63,953

87,942

FUNDS

13

Unrestricted funds

63,953

87,942

TOTAL FUNDS

63,953

87,942

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 and authorised for issue on 30 September 2025 and were signed on its behalf by:

P Kay - Trustee

C L Moriarty - Trustee

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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

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.

GRANTS

31.12.24

31.12.23

£

Grants

59,928

13,250

Grants received, included in the above, are as follows:

31.12.24

31.12.23

£

Key Fund Investment Grant

-

12,750

Other grants

59,928

500

59,928

13,250

3.	OTHER TRADING ACTIVITIES

31.12.24

31.12.23

£

Swimming pool income

369,507

342,612

Sale of confectionery

1,456

943

Miscellaneous income

254

355

371,217

343,910

4.	INVESTMENT INCOME

31.12.24

31.12.23

£

Bank interest received

1,729

1,078

5.	OTHER TRADING ACTIVITIES

Expenditure on other trading activities

31.12.24

31.12.23

£

Staff costs

209,165

174,166

Rates and water

13,211

11,279

Insurance

7,727

7,747

Light and heat

77,738

56,307

Telephone

1,637

1,470

Sundries

2,057

407

Repairs and maintenance

82,459

36,618

Towels/wipes

502

656

Service cont/equip

597

580

Resaleable items

-

425

Pool dosing chemicals

3,458

3,961

Pool requisits other

7,395

5,479

Confectionery

1,104

747

Cleaning

2,099

1,623

Advertising

362

120

Carried forward

409,511

301,585

31.12.24

31.12.23

£

Brought forward

409,511

301,585

Printing, postage & stationery

811

967

Subscriptions

-

191

Uniforms etc

225

340

Training

849

4,870

Fun session equipment

354

36

Tools and small office repairs

5,971

2,636

Travel and accommodation

132

230

Canteen costs

247

405

DBS checks

1,953

927

Computer costs

1,043

114

Web Site costs

989

25

Rent

251

250

Accountancy fees

13,945

12,200

Credit Card charges

6,651

5,726

Pension costs

2,603

1,443

Interest payable and similar charges

3,250

3,494

Support costs

8,078

6,797

456,863

342,236

6.	TRUSTEES' REMUNERATION AND BENEFITS

The trustees received no remuneration or benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.12.24

31.12.23

Management

1

Permanent part time

2

Casuals

12

11

15

14

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME FROM

Grants

13,250

-

13,250

Other trading activities

343,910

-

343,910

Investment income

1,078

-

1,078

Total

358,238

-

358,238

EXPENDITURE ON

Other trading activities

342,236

-

342,236

NET INCOME

16,002

-

16,002

RECONCILIATION OF FUNDS

Total funds brought forward

71,940

-

71,940

TOTAL FUNDS CARRIED FORWARD

87,942

-

87,942

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Office

machinery

fittings

equipment

Totals

£

COST

At 1 January 2024 and
31 December 2024

12,552

3,838

4,608

20,998

DEPRECIATION

At 1 January 2024 and
31 December 2024

12,552

3,838

4,608

20,998

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

9,310

3,371

Bad Debt provision

(5,990

)

(3,371

)

Wages control

640

-

Prepayments

1,970

2,824

5,930

2,824

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other loans (see note 12)

-

11,537

Trade creditors

6,788

5,437

Social security and other taxes

7,288

6,609

Pension creditor

2,369

1,335

VAT

9

38

Other creditors

-

24

Prepaid swimming lessons

24,077

27,967

Accrued expenses

22,413

12,639

62,944

65,586

12.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

Amounts falling due within one year on demand:

Key Fund Loan

-

11,537

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

87,942

(23,989

)

63,953

TOTAL FUNDS

87,942

(23,989

)

63,953

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

432,874

(456,863

)

(23,989

)

TOTAL FUNDS

432,874

(456,863

)

(23,989

)

Comparatives for movement in funds

Net

movement

At

At 1.1.23

in funds

31.12.23

£

Unrestricted funds

General fund

71,940

16,002

87,942

TOTAL FUNDS

71,940

16,002

87,942

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

358,238

(342,236

)

16,002

TOTAL FUNDS

358,238

(342,236

)

16,002

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.23

in funds

31.12.24

£

Unrestricted funds

General fund

71,940

(7,987

)

63,953

TOTAL FUNDS

71,940

(7,987

)

63,953

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

791,112

(799,099

)

(7,987

)

TOTAL FUNDS

791,112

(799,099

)

(7,987

)

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.