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REGISTERED COMPANY NUMBER: 04479074

REGISTERED CHARITY NUMBER: 1099941

Trustees' Report and

Audited Financial Statements for the Year Ended 31 March 2025

for

Formby Pool Trust

Formby Pool Trust

Contents of the Financial Statements

for the Year Ended 31 March 2025

| Page |

Reference and Administrative Details | 1 |

Trustees' Report | 2 |  | to |  | 4

Report of the Independent Auditors | 5 |  | to |  | 7

Statement of Financial Activities | 8 |

Balance Sheet | 9 |

Cash Flow Statement | 10 |

Notes to the Cash Flow Statement | 11 |

Notes to the Financial Statements | 12 |  | to |  | 20

Formby Pool Trust

Reference and Administrative Details

for the Year Ended 31 March 2025

| TRUSTEES | D Edwards

| D Wilson

| C M Page

| S Crean

| J C Scorgie

| P Adams

| C H Bull

| H G Davies

| G Sidlow

| M Snaylam

| COMPANY SECRETARY | S J Fletcher

| REGISTERED OFFICE | Elbow Lane

| Formby

| Merseyside

| L37 4AB

| REGISTERED COMPANY NUMBER | 04479074

| REGISTERED CHARITY NUMBER | 1099941

| AUDITORS | Advance Audit Limited

| Statutory Auditor

| 71/73 Hoghton Street

| Southport

| Merseyside

| PR9 0PR

Formby Pool Trust (Registered number: 04479074)

Trustees' Report

for the Year Ended 31 March 2025

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 March 2025. 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

Formby Pool Trust provides a swimming pool, fitness facility and café in a park setting. We aim to be at the heart of the community promoting the health, wellbeing and welfare of local people through the work we do.

The Trust works in partnership with Formby Land Trust as owners of the land and building and Sefton

Metropolitan Borough Council which commissions the services provided.

The trust has 6 strategic objectives as outlined in the 2022-2027 strategy:

==> Delivering a first-class service, being the best that we can be

==> Developing our services and facilities to meet the needs of local people

==> Being at the heart of the Formby Community

==> Being a good employer

==> Working towards environmental sustainability

==> Developing our services and facilities to meet the needs of local people

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

2024/25 has been a year with significant achievements.

Delivering a first-class service, being the best that we can be

In December 2024 Formby Pool Trust became the National Fitness Award Leisure Trust Gym of the year in recognition of the excellence of service, facilities and impact. This significant achievement was well deserved by the hard-working and highly motivated staff team.

Developing our services and facilities to meet the needs of local people

Membership has grown by 11% over the year with 3383 members in March 2025, the highest recorded in the history of the Trust.

There have been over 82,000 fitness class visits over the year, in the 110 classes per week, leading to increased health and wellbeing for members.

The popular swim school continues to be successful with over 1700 children weekly despite the 6-week closure to enable the installation of the wet side changing facilities.

The Trust has invested in refurbishment of the pool café resulting in an improved environment and increased use.

Being at the heart of the Formby Community

The increased use of the facility through swim, classes, gym, café and park shows that Formby Pool Trust is very much at the heart of the community.

The 1 to 1 assisted training has been invaluable for members who would otherwise not be able to access fitness services and has increased accessibility and diversity.

The trust funded a large extension to the popular children's play area which is making Formby Pool at the heart of the Formby Community.

The Trust has hosted several free concerts, plays and other community events over the past year, resulting in improved ownership, use of the grounds and community cohesion.

Formby Pool Trust (Registered number: 04479074)

Trustees' Report

for the Year Ended 31 March 2025

Being a good employer

There has been continued investment in developing staff, through a leadership development programme for senior managers and junior managers and providing opportunities for career progression and succession planning. The trust has invested in staff through increases in line with the national living wage.

Working towards environmental sustainability

The Trust installed an additional 149 solar panels in 2024/5, offsetting electricity resulting in a 5% reduction in electricity use. Approximately 25% of all electricity used in the facility is generated by solar panels.

The trust has invested in battery storage to further reduce energy use, part funded with a grant from the Burbo Bank Community Fund.

The trust undertook an environmental audit achieving the third highest score for any leisure facility in the UK.

FINANCIAL REVIEW

Financial review and reserves

The Trust aims to become financially sustainable and invests to save, when possible. Income has increased in all areas in the financial year. Prudent management has resulted in a surplus of £77,501 for this financial year, £37,600 better than budget.

The Trust has invested in services and in environmental measures to build financial resilience. The Trust has retained some of the government backed business continuity loan to enable it to maintain a stable and strong position moving into the coming year. It also invested in a short-term overdraft to ensure cashflow during the changing room refurbishment.

FUTURE PLANS

Membership of the organisation is continuing to grow following the investment in facilities and services. Future plans for the Trust include:

- Continuing to grow and adapt to meeting the needs and demands arising from population changes.

- Agreeing long term plans which will enable increasing financial sustainability and community benefit.

- Agreeing an operational lease with partners to commence in January 2027

- Developing plans to extend the gym to accommodate more members and increase financial sustainability

- Refurbishment of the external bin store within the grounds.

- Creation of an energy hub

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.

Trustees

Dr Dympna Edwards |  | Chairman |

Mr David Wilson |  | Vice Chairman |

Cllr Catie Page |  | Trustee and Sefton Council Representative |

Mr Mark Snaylam |  | Trustee and Sefton Council Representative |

Mrs Sharon Crean |  | Trustee and Formby Land Trust Representative |

Mr Jamie Scorgie |  | Trustee |

Ms Pauline Adams |  | Trustee |

Mrs Katie Bull |  | Trustee |

Mrs Heather Davies |  | Trustee |

Mr Graham Sidlow |  | Trustee |

Trustees are appointed for a three-year period. One trustee was reappointed to the board at the last AGM. Ms Samantha Fletcher, Finance Manager for Formby Pool acts as Company Secretary

Formby Pool Trust (Registered number: 04479074)

Trustees' Report

for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Decision making

The Board of Trustees has continued to meet bimonthly over the year and has overall responsibility for the management of the business with clear oversight and a scheme of delegation. It is supported by three subcommittees. Regular performance reports are made to the board against the annual delivery plan and 5-year strategic plan. Performance is also reported to a partnership board and scrutinised on a six-monthly basis. Financial transactions undergo independent checks by the trustees, particularly cash-flow, expenditure and income trends. Cheques are signed by one authorised signatory. The accounts and supporting records have been reviewed by the Trust's auditors.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Formby Pool Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

- | select suitable accounting policies and then apply them consistently;

- | observe the methods and principles in the Charities SORP;

- | make judgements and estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

- | there is no relevant audit information of which the charitable company's auditors are unaware; and

- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Advance Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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 9 October 2025 and signed on its behalf by:

D Edwards - Trustee

Report of the Independent Auditors to the Members of

Formby Pool Trust

Opinion

We have audited the financial statements of Formby Pool Trust (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

- | give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Trustees' Report has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Formby Pool Trust

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of trustees' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit; or

- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the trustees' Report.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

- Enquiry of management and those charged with governance around actual and potential litigation and claims;

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Report of the Independent Auditors to the Members of

Formby Pool Trust

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jennifer Tobin FCCA (Senior Statutory Auditor)

for and on behalf of Advance Audit Limited

Statutory Auditor

71/73 Hoghton Street

Southport

Merseyside

PR9 0PR

9 October 2025

Formby Pool Trust

Statement of Financial Activities

(Incorporating an Income and Expenditure Account)

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Unrestricted |  | Total

| funds |  | funds

| Notes | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 2 | 200,000 |  | 227,741 |

Charitable activities | 4

Activities undertaken directly | 2,465,749 |  | 2,081,790 |

Investment income | 3 | 1,425 |  | 5,061 |

Total | 2,667,174 |  | 2,314,592 |

EXPENDITURE ON

Charitable activities | 5

Activities undertaken directly | 2,589,673 |  | 2,383,716 |

NET INCOME/(EXPENDITURE) | 77,501 |  | (69,124 | )

RECONCILIATION OF FUNDS

Total funds brought forward | 154,555 |  | 223,679 |

TOTAL FUNDS CARRIED FORWARD | 232,056 |  | 154,555 |

Formby Pool Trust (Registered number: 04479074)

Balance Sheet

31 March 2025

| 2025 |  | 2024

| Unrestricted |  | Total

| funds |  | funds

| Notes | £ | £ |

FIXED ASSETS |

Tangible assets | 11 | 223,594 |  | 202,981 |

CURRENT ASSETS |

Stocks | 12 | 6,146 |  | 7,266 |

Debtors | 13 | 165,278 |  | 172,849 |

Cash at bank and in hand | 173,709 |  | 173,353 |

345,133 |  | 353,468 |

CREDITORS |

Amounts falling due within one year | 14 | (306,263 | ) | (300,377 | )

NET CURRENT ASSETS | 38,870 |  | 53,091 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 262,464 |  | 256,072 |

CREDITORS |

Amounts falling due after more than one year | 15 | (30,408 | ) | (101,517 | )

NET ASSETS | 232,056 |  | 154,555 |

FUNDS | 18

Unrestricted funds | 232,056 |  | 154,555 |

TOTAL FUNDS | 232,056 |  | 154,555 |

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 9 October 2025 and were signed on its behalf by:

D Edwards - Trustee

D Wilson - Trustee

Formby Pool Trust

Cash Flow Statement

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 197,228 |  | 26,626 |  |

Interest paid | (10,392 | ) | (14,170 | ) |

Net cash provided by operating activities | 186,836 |  | 12,456 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (109,853 | ) | (64,418 | ) |

Interest received | 1,425 |  | 5,061 |  |

Net cash used in investing activities | (108,428 | ) | (59,357 | ) |

Cash flows from financing activities

Loan repayments in year | (60,000 | ) | (60,000 | ) |

Capital repayments in year | (18,052 | ) | (15,274 | ) |

Net cash used in financing activities | (78,052 | ) | (75,274 | ) |

Change in cash and cash equivalents in the reporting period | 356 |  | (122,175 | ) |

Cash and cash equivalents at the beginning of the reporting period | 173,353 |  | 295,528 |  |

Cash and cash equivalents at the end of the reporting period | 173,709 |  | 173,353 |  |

Formby Pool Trust

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

| 2025 |  | 2024

£ | £ |

| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) | 77,501 |  | (69,124 | ) |

| Adjustments for:

| Depreciation charges | 89,240 |  | 91,809 |  |

| Interest received | (1,425 | ) | (5,061 | ) |

| Interest paid | 10,392 |  | 14,170 |  |

| Decrease/(increase) in stocks | 1,120 |  | (3,425 | ) |

| Decrease/(increase) in debtors | 7,571 |  | (73,484 | ) |

| Increase in creditors | 12,829 |  | 71,741 |  |

| Net cash provided by operations | 197,228 |  | 26,626 |  |

2. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 173,353 |  | 356 |  | 173,709 |  |

173,353 |  | 356 |  | 173,709 |  |

| Debt

| Finance leases | (28,272 | ) | 18,052 |  | (10,220 | ) |

| Debts falling due within 1 year | (60,000 | ) | - |  | (60,000 | ) |

| Debts falling due after 1 year | (90,408 | ) | 60,000 |  | (30,408 | ) |

(178,680 | ) | 78,052 |  | (100,628 | ) |

| Total | (5,327 | ) | 78,408 |  | 73,081 |  |

Formby Pool Trust

Notes to the Financial Statements

for the Year Ended 31 March 2025

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.

| Company status

| The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

| 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.

| Revenue support grants are accounted for as they become receivable.

| Government grants

| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

| 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

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Equipment - 50% on cost, 33% on cost and 25% on cost

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| Impairment of fixed assets

| At each reporting period end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

1. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

| Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cash at bank and in hand

| Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

| Financial Instruments

| The charity only has financial assets and financial 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.

| 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.

| Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of the designated fund is set out in the notes to the financial statements.

| The charity does not have any restricted funds.

| Leases

| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

| Retirement benefits

| The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

1. | ACCOUNTING POLICIES - continued

| Retirement benefits

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Judgements and key sources of estimation uncertainty

| In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| The trustees do not believe that there are any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

| Irrecoverable VAT

| All VAT which can not be recovered due to partial exemption regulations is shown within the appropriate expenditure headings in the Statement of Financial Activities.

| Going concern

| The accounts show a net asset position at 31 March 2025. Management and the Board of trustees have reviewed the current performance and prepared forecasts alongside setting achievable budgets for the next 12 months.

| The realisation of these forecasts may be affected by a number of factors outside their control affecting the charity and the UK economy. Management and the trustees are continuously assessing the impact of these factors on the charity and are reacting and adapting to ever changing working circumstances.

| For these reasons, they continue to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

2. | DONATIONS AND LEGACIES

| 2025 |  | 2024

£ | £ |

| Annual Fee Sefton MBC | 200,000 |  | 227,741 |  |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | INVESTMENT INCOME

| 2025 |  | 2024

£ | £ |

| Bank interest receivable | 1,425 |  | 5,061 |  |

4. | INCOME FROM CHARITABLE ACTIVITIES

| 2025 |  | 2024

| Activity | £ | £ |

| Pool Income | Activities undertaken directly | 2,156,478 |  | 1,910,459 |  |

| Car Park Income | Activities undertaken directly | 4,515 |  | 3,249 |  |

| Goods for Resale | Activities undertaken directly | 30,509 |  | 28,052 |  |

| Café and Events | Activities undertaken directly | 208,771 |  | 139,576 |  |

| Grant income | Activities undertaken directly | 57,906 |  | - |  |

| Miscellaneous Income | Activities undertaken directly | 7,570 |  | 454 |  |

2,465,749 |  | 2,081,790 |  |

5. | CHARITABLE ACTIVITIES COSTS

| Direct | Support |

| Costs (see | costs (see |

| note 6) | note 7) | Totals

£ | £ | £ |

| Activities undertaken directly | 2,570,756 |  | 18,917 |  | 2,589,673 |  |

6. | DIRECT COSTS OF CHARITABLE ACTIVITIES

| 2025 |  | 2024

£ | £ |

| Staff costs | 1,175,375 |  | 1,007,433 |  |

| Freelance instructors | 131,924 |  | 121,910 |  |

| Rates and water | 69,769 |  | 61,389 |  |

| Insurance | 111,470 |  | 106,323 |  |

| Light and heat | 181,025 |  | 257,413 |  |

| Telephone | 1,939 |  | 5,897 |  |

| Postage and stationery | 9,692 |  | 11,436 |  |

| Advertising | 13,627 |  | 16,291 |  |

| Sundries | 33,205 |  | 31,339 |  |

| Repairs, Maintenance and Equipment | 297,514 |  | 257,289 |  |

| Equipment Rental | 9,032 |  | 14,398 |  |

| Chapel Lane costs | - |  | 6,037 |  |

| Cleaning | 33,871 |  | 33,725 |  |

| IT Support, Hardware and Software | 67,098 |  | 58,462 |  |

| Provisions | 127,611 |  | 86,529 |  |

| Recruitment and Training | 16,600 |  | 12,618 |  |

| Consultancy and Professional Fees | 44,765 |  | 38,228 |  |

| Finance Charges | 76,082 |  | 63,955 |  |

| Security | 15,212 |  | 18,606 |  |

| Rent | 65,705 |  | 60,959 |  |

| Depreciation | 89,240 |  | 91,809 |  |

2,570,756 |  | 2,362,046 |  |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | SUPPORT COSTS

| Governance

| costs

£ |

| Activities undertaken directly | 18,917 |  |

| Support costs, included in the above, are as follows: |

| Governance costs |

| 2025 |  | 2024

| Activities |

| undertaken |  | Total

| directly |  | activities

£ | £ |

| Auditors' remuneration | 8,525 |  | 7,500 |  |

| Bank interest | 10,392 |  | 14,170 |  |

18,917 |  | 21,670 |  |

8. | NET INCOME/(EXPENDITURE)

| Net income / (expenditure) is stated after charging / (crediting):

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Auditors' remuneration |  | 8,250 |  | 7,500 |  |

| Depreciation |  | 89,240 |  | 91,809 |  |

9. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10. | STAFF COSTS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,101,334 |  | 943,896 |  |

| Social security costs | 58,624 |  | 49,455 |  |

| Other pension costs | 15,417 |  | 14,082 |  |

1,175,375 |  | 1,007,433 |  |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | STAFF COSTS - continued

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

| 2025 |  | 2024

| Pool, Gym and Cafe | 93 |  | 76 |  |

| Maintenance | 3 |  | 3 |  |

| Admin | 12 |  | 12 |  |

| Management | 8 |  | 7 |  |

116 |  | 98 |  |

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

11. | TANGIBLE FIXED ASSETS

| Equipment

£ |

| COST

| At 1 April 2024 | 825,961 |  |

| Additions | 109,853 |  |

| Disposals | (365 | ) |

| At 31 March 2025 | 935,449 |  |

| DEPRECIATION

| At 1 April 2024 | 622,980 |  |

| Charge for year | 89,240 |  |

| Eliminated on disposal | (365 | ) |

| At 31 March 2025 | 711,855 |  |

| NET BOOK VALUE

| At 31 March 2025 | 223,594 |  |

| At 31 March 2024 | 202,981 |  |

12. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 6,146 |  | 7,266 |  |

13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025 | 2024 |

£ | £ |

| Trade debtors | 66,671 |  | 130,903 |  |

| VAT | - |  | 5,781 |  |

| Prepayments and accrued income | 98,607 |  | 36,165 |  |

165,278 |  | 172,849 |  |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 16) | 60,000 |  | 60,000 |  |

| Hire purchase (see note 17) | 10,220 |  | 17,163 |  |

| Trade creditors | 92,022 |  | 157,672 |  |

| Social security and other taxes | 30,121 |  | 12,503 |  |

| VAT | 5,202 |  | - |  |

| Other creditors | 4,840 |  | 28,664 |  |

| Accruals and deferred income | 103,858 |  | 24,375 |  |

306,263 |  | 300,377 |  |

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025 | 2024 |

£ | £ |

| Bank loans (see note 16) | 30,408 |  | 90,408 |  |

| Hire purchase (see note 17) | - |  | 11,109 |  |

30,408 |  | 101,517 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year on demand:

| Bank loans | 60,000 |  | 60,000 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 30,408 |  | 90,408 |  |

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 10,220 |  | 17,163 |  |

| Between one and five years | - |  | 11,109 |  |

10,220 |  | 28,272 |  |

| Non-cancellable | operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 4,708 |  | 4,708 |  |

| Between one and five years | 2,078 |  | 6,786 |  |

6,786 |  | 11,494 |  |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

18. | MOVEMENT IN FUNDS

|  | At 01.04.24 |  | Net movement in funds |  | Capital expenditure paid out of development fund |  | Transfers between funds |  | At 31.03.25 |  |

| £ |  | £ |  | £ |  | £ |  | £ |  |

| Unrestricted funds |  |

| General fund |  | 154,555 |  | 77,501 |  | - |  | - |  | 232,056 |  |

| Development fund |  | - |  | - |  | - |  | - |  | - |  |

| TOTAL FUNDS |  | 154,555 |  | 77,501 |  | - |  | - |  | 232,056 |  |

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

|  | Incoming resources |  | Resources expended |  | Movement in funds |  |

| £ |  | £ |  | £ |  |

| Unrestricted funds |  |

| General fund |  | 2,667,174 |  | (2.589.673 | ) | 77,501 |  |

| TOTAL FUNDS |  | 2,667,174 |  | (2,589,673 | ) | 77,501 |  |

| Comparatives for movement in funds

|  | At 01.04.23 |  | Net movement in funds |  | Capital expenditure paid out of development fund |  | Transfers between funds |  | At 31.03.24 |  |

| £ |  | £ |  | £ |  | £ |  | £ |  |

| Unrestricted funds |  |

| General fund |  | 199,255 |  | (69,124 | ) | 24,424 |  | - |  | 154,555 |  |

| Development fund |  | 24,424 |  | - |  | (24,424 | ) | - |  | - |  |

| TOTAL FUNDS |  | 223,679 |  | (69,124 | ) | - |  | - |  | 154,555 |  |

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

|  | Incoming resources |  | Resources expended |  | Movement in funds |  |

| £ |  | £ |  | £ |  |

| Unrestricted funds |  |

| General fund |  | 2,314,592 |  | (2,383,716 | ) | (69,124 | ) |

| TOTAL FUNDS |  | 2,314,592 |  | (2,383,716 | ) | (69,124 | ) |

Formby Pool Trust

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

19. | RELATED PARTY DISCLOSURES

| Formby Pool Trust are part of a tri-party agreement together with Formby Land Trust and Sefton MBC to enable the operation of the leisure centre.

| Formby Land Trust own the land and building within which Formby Pool Trust operates the leisure centre.

| The land and building are leased under the terms of a lease contained within the Operating Agreement and there is a representative of Formby Land Trust on the Formby Pool Trust board of trustees. Rent totalling £5,000 was charged to profit and loss during the year (2024: £5,000).

| Sefton MBC provide Formby Pool Trust with an annual fee contribution towards the operation of the leisure centre. Sefton MBC provides a Sinking Fund which is accessed for LifeCycle maintenance and building requirements at the leisure centre. There are ordinarily two representatives of Sefton MBC on the Formby Pool Trust board of trustees.

| During the 2017 year end the operating agreement was renewed with Sefton MBC and a new ten year lease was agreed and signed. The annual fee contribution has been agreed which provides a financial subsidy linked with RPI.

| Formby Pool Trust received an Annual Fee contribution from Sefton MBC of £200,000 (2024: £227,741) under the terms of the Operating Agreement and £180,333 (2024: £288,765) was accessed in relation to LifeCycle works paid for out of the Sinking Fund. At the year end £65,321 (2024: £130,493) was due from Sefton Council in respect of LifeCycle works.

| Formby Pool Trust paid Sefton MBC £8,154 (2024: £7,003) for waste removal and security services and £6,753 (2024: £6,432) for general rates. At the year end an amount of £512 (2024: £920) was due to Sefton MBC in respect of the above recharges.

| In an earlier year, Formby Pool Trust agreed to provide a contribution in relation to equipment to Formby Land Trust following completion of the extension during 2019/20. The total contribution was £60,000 of which the final £24,900 was paid within the 2024/25 financial year.