REGISTERED COMPANY NUMBER: 05165102 (England and Wales)

REGISTERED CHARITY NUMBER: 1106148

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

TADCASTER SWIMMING POOL TRUST

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

10

Statement of Financial Activities

11

Statement of Financial Position

12

to

13

Statement of Cash Flows

14

Notes to the Statement of Cash Flows

15

Notes to the Financial Statements

16

to

24

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 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

Our charity's objectives, as set out in the company's Memorandum of Association, are:

"To construct, maintain and operate leisure facilities including a swimming pool and other buildings, structures, apparatus and equipment ancillary to the provision, use and maintenance of leisure facilities as the Trustees may think fit for the benefit of and with the object of improving the conditions of life for the residents of and visitors to the town in which those facilities are located."

The aims of our charity are to provide a high quality community service for people wishing to swim and to offer a comprehensive programme of recreation, education and fitness all year round. Our aims fully reflect the purposes that the charity was set up to achieve.

Ensuring Our Work Delivers Our Aims

We review our aims and activities each year and the Trustees ensure that we continue to remain focused on our core values and main purpose. 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. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Significant activities

Our main objectives for the year continued to be met as we provided access to a large selection of aquatic and fitness opportunities to a broad and varied range of individuals and community groups. In addition, we have trained our staff and volunteers to deliver a quality service and supported them to achieve formal qualifications where possible. The strategies we used to meet these objectives included:

- Maintaining high standards of health and safety throughout the facility.

- Offering a wide and varied programme available to the whole community seven days a week.

- Delivering a comprehensive range of quality-assured swimming lessons to both children and adults.

- Providing discounted access to school groups with the support of professional instructors.

- Providing access to disabled people and vulnerable adults.

- Offering a range of complementary activities to support swimmers and improve or maintain general fitness.

- Working in partnership with clubs, societies and statutory bodies.

Public benefit

All of our charitable activities focus on operating and maintaining the Tadcaster Community Swimming Pool and are undertaken to further our charitable purposes for public benefit. Our facility serves as much more than a place to swim - it is a vital community hub, a warm space, and a lifeline for health, fitness, and social interaction for residents across Tadcaster and the surrounding rural villages.

The social value delivered by the Trust during 2025 is estimated at £1,188,000, based on Sport England Moving Communities data (2025 Facilities Impact Report) which calculates an average Social Return on Investment of £240 per unique participant across small wet and dry facilities. This figure reflects improved wellbeing, reduced social isolation, and measurable health outcomes across our community.

Volunteers

The extent and scope of our service is heavily dependent on the support and commitment of our volunteers. Approximately 70 regular volunteers support the Trust across lifeguarding, reception, maintenance, IT, and a wide range of other operational roles. Their combined contribution represents an annual wage cost saving in the region of £100,000, which is critical to maintaining affordable access for the community.

The Trustees wish to acknowledge and sincerely thank all those people who give up their spare time to support the Trust. Volunteers come from all walks of life - school leavers, retirees, the unemployed, and parents - and many have used free lifeguard training received through TCSPT to further their careers. Without this continued level of support, our aims and objectives could not be achieved.

STRATEGIC REPORT

Achievements and performance

Who Used and Benefitted from Our Services?

Total attendance at the facility in 2025 reached 182,355, with cumulative post-Covid attendances now exceeding 807,000 across our core swimming activities. Year-on-year growth has been achieved across casual swimming, swimming lessons, and aquafit - the only category to record a reduction being school swimming, directly attributable to the withdrawal of school funding rather than any reduction in demand.

Demand during peak times remains high and the charity balances the activities available by considering the age and availability of individuals and groups. Our fee structure allows discounted access to be offered to Tadcaster school groups, carers of disabled people, and children under five years of age. Concessionary pricing is also available for a range of individuals.

We do not operate a private membership, but instead promote ourselves as an 'open access' facility, welcoming people from the immediate town of Tadcaster as well as customers from further afield. We do not restrict access in any way and aim to offer our services to all genders, all ethnic groups, able-bodied people, and people with disabilities.

Customer satisfaction data gathered by independent consultant The Evaluator during 2024 confirmed the profound impact the facility has on users' lives: 47% of customers reported feeling happier, 46% felt healthier, and 52% had met new people through the pool. On average, customers had been members for nine years and visited 2.6 times per week. These outcomes reflect the Trust's role not just as a fitness facility, but as a cornerstone of community wellbeing.

Going Concern

The Trust operated at a deficit of £52,997 in 2025. This deficit was driven primarily by significant increases in operating costs beyond the Trust's control, including the combined impact of National Living Wage increases and the increase in Employers' National Insurance contributions from April 2025, estimated to have added approximately £180,000 to operating costs across the 2025-2026 period. Utility costs, while partially stabilised, remain significantly above pre-2021 levels.

At the close of 2025, the Trust held cash reserves of £477,781. However, financial projections produced for the period 2026 to 2030 indicate that without additional external funding, these reserves will be exhausted by 2028 if only minimal maintenance is undertaken, and significantly sooner if the full Facility Maintenance Plan is required.

The Trustees are actively pursuing all available options to secure the long-term financial sustainability of the Trust.

The Trustees are satisfied that the Trust's current activities remain viable for the immediate future and are committed to taking all necessary steps to protect this vital community asset.

Swimming Lessons and Education

The Trust is proud of the level and range of lessons and learning opportunities it offers. We deliver our Learn to Swim programme to approximately 1,200 pupils per week and currently support 90 swimmers within the Tadcaster and York Sport Swim Squad, along with 20 swimmers in the Tadcaster Stingrays disability swim squad. The squad has produced national-level swimmers who have represented their country at the Commonwealth Games.

All Tadcaster schools continue to use the facility for swimming lessons and aquatic skills development. The high level of instruction leads to strong attainment rates for National Key Stage 2 swimming, contributing meaningfully to child safety and long-term participation in physical activity.

Improving Fitness and Furthering Participation

The charity continues to meet its aim of improving the fitness of clients by operating the fitness suite and promoting both structured and unstructured programmes. These include Crazy Fun Sessions in the pool during school holidays, adult swim clinics, and development pathways to the Tadcaster and York Sport Swim Squad and the Lower Wharfe Canoe Club.

The GoodBoost water-based rehabilitation class continues to support participants recovering from injury, operation, or illness. Recognised by Swim England, this programme uses tablet-guided technology to deliver instructor-led exercise routines tailored to individual needs, contributing directly to the Trust's health and wellbeing objectives.

The aquafit programme continues to grow, with attendance reaching 8,256 in 2024/25 and contributing to improved physical and mental health outcomes for regular participants.

Partnerships

The Trust continues to build and maintain strong partnerships that extend the reach and impact of its work:

- All local primary schools are fully engaged in utilising our facility and staff, with attainment measured against National Key Stage 2 swimming standards.

- A Service Level Agreement with Active North Yorkshire allows Direct Debit members from Tadcaster Leisure Centre access to the swimming pool.

- The Trust remains part of the Community Leisure UK group, working collaboratively with Trusts across Yorkshire and the North East.

- The Trust manages the Tadcaster Grammar School lettings programme, overseeing out-of-hours use and promoting local clubs, groups, and grassroots sports at those facilities. This arrangement has been in place for three years and has resulted in the introduction of a winter training programme that has been regularly oversubscribed

- The Trust-continues to work with Race Best to host the Tadcaster Triathlon, supporting wider community sport participation.

- The Trust provides H&S consultancy and lifeguard training services to external organisations including Leeds United Football Club training facility, PTC Harrogate, and Rishworth School. To date, over 900 individuals have obtained the Royal Lifeguard - National Pool Lifeguard Qualification through TCSPT, a globally recognised certification.

Financial review

Financial position

The Trust had a challenging year during 2025 due to a decline in voluntary income.

During the year, the Trust had total incoming resources of £1,240,273 (2024: £1,332,975) and the deficit for the year was £52,997 (2024: surplus £24,210).

The Trustees will continue to seek external funding, donations and grants to meet refurbishment costs and special projects.

Reserves policy

It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to provide sufficient funds to cover management, administration and support costs and in particular to cover payments towards new projects recommended for support by the trustees.

The Trustees have recommended that the target for free reserves be at least £150,000. As at 31 December 2025, the charity had cash at bank of £584,449 (2024: £513,599) and total free cash reserves of £525,581 (2024: £520,103).

Included within the unrestricted reserves the Trustees have put aside £400,000 into designated funds for the eventual refurbishment of the changing rooms. They have also designated operational funds of £200,000.

Future plans

The Trustees' priorities for 2026 and beyond are shaped by both the ongoing operational needs of the facility and the financial challenges the Trust now faces. The Trustees have commissioned a comprehensive Business Review and Future Options document (April 2026) which sets out in full the financial position, facility maintenance requirements, and strategic options available to the Trust.

In summary, the Trustees' key priorities are:

- Maintain a safe environment for both employees and customers in line with all applicable health and safety legislation and industry guidance.

- Secure external funding support to deliver the Facility Maintenance and Refurbishment Plan (2026-2030), estimated at £1.1 million. This plan addresses critical mechanical and electrical replacements, changing room refurbishment, gym equipment renewal, and external repairs required to maintain the facility's long-term viability.

- Continue to support the community in their physical and mental health and wellbeing.

- Promote volunteering and employment opportunities across the local area.

- Continue to explore partnership and commissioning arrangements that could provide additional funding and support the long-term sustainability of the facility.

- Minimise energy costs and continue to reduce the Trust's carbon footprint, building on the energy monitoring and pool cover investment supported by the Sport England Swimming Pool Support Fund grant of £61,000 received in 2024.

- Focus on developing technology and operational systems within the Trust to improve efficiency and service quality.

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.

The word "Limited" has been omitted in compliance with section 60 of the Companies Act 2006.

It is governed by the memorandum and articles of association dated 12 January 2023.

Recruitment and appointment of new trustees

As set out in the Articles of Association, the Chairman is elected by a simple voting majority and Trustees may be appointed by the Board through application or invitation. Whenever possible, the Trustees consider specialist skills that members might bring to the Board and seek to maintain a board of at least four Trustees. The Board will call further meetings as and when necessary.

Organisational structure

The Trust's policies are determined and reviewed by the Board of Trustees, which meets at least four times per year. The Board delegate the day-to-day operation to a full time facility manager, who is also the Company Secretary. The Facility Manager liaises regularly with individual Trustees for specialist projects that utilise their key skills and expertise.

Induction and training of new trustees

New Trustees receive a half day briefing which includes a facility tour, inspection of the management accounts, health and safety documents and a copy of the Charity Commission Guidance "CC3a-The Essential Trustee: An Introduction".

Risk management

The Trustees have employed Insignis Cash Management to manage the Trust's accounts and reserve funds. Funds are invested across a mixture of low-risk current accounts, 30-day access, 3-month, and 6-month accounts. An annual review takes place to ensure the Trust maintains an appropriate combination of investment returns and accessible cash flow.

In considering the annual budget and the operation of the facility as a whole, the Trustees examine the major risks to which the charity is exposed - in particular, the health and safety of its visitors, volunteers, and staff. The Trustees receive regular reports on financial and operational performance, including incident and accident reports.

An annual health and safety inspection of the building is carried out by a qualified volunteer Health and Safety officer. The Trustees receive copies of the report and act upon any recommendations arising.

The Trustees also recognise the following as significant risks to the charity's ongoing viability:

- The continuing erosion of financial reserves due to operating cost increases outside the Trust's control.

- The condition of the building and mechanical and electrical infrastructure, several key components of which are approaching or have reached their end of useful life.

- The impact of further admission charge increases on attendance levels, particularly given ongoing cost-of-living pressures on local families.

- The risk of facility closure in the event that reserves are exhausted before sustainable funding arrangements are in place.

The Trustees are satisfied that these risks are being actively managed and that the Business Review and Future Options process provides a clear framework for addressing the financial and operational challenges facing the Trust.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05165102 (England and Wales)

Registered Charity number

1106148

Registered office

C/o Tadcaster Community

Swimming Pool Westgate

Tadcaster

North Yorkshire

LS24 9AB

Trustees

D J Marsh Director

J Sykes Director (resigned 22/6/2026)

J Cahill Director

Dr A E Inglis Director

Miss C A Atwater Director

D I Jockel Director (resigned 27/5/2025)

Miss E J English Director (resigned 27/5/2025)

Mrs N K Eades Director (appointed 27/5/2025)

Mrs J Sykes Director (appointed 14/8/2025)

Company Secretary

C G Hirst

Auditors

SMH Group Audit

Statutory Auditors

5 Westbrook Court

Sharrow Vale Road

Sheffield

South Yorkshire

S11 8YZ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Tadcaster Swimming Pool Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, SMH Group Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 10 September 2026 and signed on the board's behalf by:

D J Marsh - Trustee

Opinion

We have audited the financial statements of Tadcaster Swimming Pool Trust (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 December 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; 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

-	the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

-	the charitable company has not kept adequate accounting records; or

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

-	we have not received all the information and explanations we require for our audit.

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

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment of the susceptibility to material misstatement, whether by fraud or error, is made in a risk based approach.

In this approach, laws and regulations applicable to the entity, such as the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102, the Housing Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2019, along with employment law, safeguarding legislation, data protection law and Health and Safety law. The policies and controls the entity has in place to comply with these laws are reviewed, by discussion, reviews of correspondence and registrations monitored by external bodies. The engagement team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Policies and controls relating to the risk of material misstatement as a result of fraud, management override of controls, and revenue recognitions are also considered. These are assessed by obtaining an understanding of the company's operations and control environment. The policies and controls have been reviewed by discussion, review and sample testing of accounting entries, including journals, challenging assumptions and judgements, reviewing and evaluating related parties transactions, and wider background searches. Testing of income recognition and fund accounting is also completed.

We have ensured that the engagement team have appropriate levels of competence and experience to effectively monitor these risks and carry out work relevant to our assessment of each risk, including consideration of the sector the company operates in and its size and complexity.

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.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

SMH Group Audit

Statutory Auditors

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

5 Westbrook Court

Sharrow Vale Road

Sheffield

South Yorkshire

S11 8YZ

23 September 2026

2025

2024

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

6,144

84,263

Charitable activities

5

Swimming pool

1,127,468

1,143,334

Other trading activities

3

87,481

85,424

Investment income

4

19,181

19,954

Total

1,240,274

1,332,975

EXPENDITURE ON

Raising funds

6

36,266

48,357

Charitable activities

7

Swimming pool

1,257,005

1,260,408

Total

1,293,271

1,308,765

NET INCOME/(EXPENDITURE)

(52,997

)

24,210

RECONCILIATION OF FUNDS

Total funds brought forward

1,130,778

1,106,568

TOTAL FUNDS CARRIED FORWARD

1,077,781

1,130,778

2025

2024

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

13

544,663

607,359

CURRENT ASSETS

Stocks

14

7,537

7,990

Debtors

15

49,585

134,445

Cash at bank and in hand

584,449

513,599

641,571

656,034

CREDITORS

Amounts falling due within one year

16

(108,453

)

(127,941

)

NET CURRENT ASSETS

533,118

528,093

TOTAL ASSETS LESS CURRENT LIABILITIES

1,077,781

1,135,452

CREDITORS

Amounts falling due after more than one year

-

(4,674

)

NET ASSETS

1,077,781

1,130,778

FUNDS

19

Unrestricted funds

1,077,781

1,130,778

TOTAL FUNDS

1,077,781

1,130,778

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

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 audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 September 2026 and were signed on its behalf by:

D J Marsh - Trustee

Cash flows from operating activities

Cash generated from operations

1

63,925

(23,721

)

Net cash provided by/(used in) operating activities

63,925

(23,721

)

Cash flows from investing activities

Purchase of tangible fixed assets

(1,861

)

(40,940

)

Interest received

19,181

19,954

Net cash provided by/(used in) investing activities

17,320

(20,986

)

Cash flows from financing activities

Loan repayments in year

(10,395

)

(10,138

)

Net cash used in financing activities

(10,395

)

(10,138

)

Change in cash and cash equivalents in the reporting period

70,850

(54,845

)

Cash and cash equivalents at the beginning of the reporting period

513,599

568,444

Cash and cash equivalents at the end of the reporting period

584,449

513,599

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

2025

2024

£

£

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities)

(52,997

)

24,210

Adjustments for:

Depreciation charges

64,557

64,184

Interest received

(19,181

)

(19,954

)

Decrease in stocks

453

370

Decrease/(increase) in debtors

84,860

(79,139

)

Decrease in creditors

(13,767

)

(13,392

)

Net cash provided by/(used in) operations

63,925

(23,721

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

513,599

70,850

584,449

513,599

70,850

584,449

Debt

Debts falling due within 1 year

(10,138

)

5,721

(4,417

)

Debts falling due after 1 year

(4,674

)

4,674

-

(14,812

)

10,395

(4,417

)

Total

498,787

81,245

580,032

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 incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. 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.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.

Expenditure

Expenditure is recognised on an accrual 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 generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

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.

Irrecoverable VAT has been accounted for within cost of activities for the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 50 years

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Stocks

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

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted Reserves.

The Trust has unrestricted funds consisting of:

Revenue Reserves arising from the charitable activities and surplus of funds generated. The reserves are freely available to be expended at the discretion of the trustees in the furtherance of the Charity's objectives.

Designated Funds.

The trustees have set up designated funds for the future development of the changing facilities and air source heat pump project and for the development of new computer software for the Swimming Development programme.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-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.

Financial instruments

A financial asset or a liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or finances at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under appropriate hedging in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or group on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

6,144

13,263

Legacies

-

10,000

Government grants receivable

-

61,000

6,144

84,263

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

2025

2024

£

£

Government grants receivable

-

61,000

3.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Retail and vending

59,507

53,021

Lifeguard training income

14,526

16,787

First aid training courses

1,370

3,320

Activities and hire

10,399

12,296

Sundry income

1,679

-

87,481

85,424

4.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

19,181

19,954

5.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

£

Swimming pool income

Swimming pool

1,127,468

1,143,334

6.	RAISING FUNDS

Other trading activities

2025

2024

£

£

Purchases

35,477

46,779

Vending costs

789

1,578

36,266

48,357

7.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 8)

Totals

£

£

£

Swimming pool

1,233,023

23,982

1,257,005

8.	SUPPORT COSTS

Governance

costs

£

Swimming pool

23,982

9.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Auditors' remuneration

6,825

4,650

Depreciation - owned assets

64,557

64,184

10.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

11.	STAFF COSTS

2025

2024

£

£

Wages and salaries

707,765

643,038

Social security costs

47,538

32,979

Other pension costs

10,769

9,208

766,072

685,225

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

2025

2024

Swimming pool

46

51

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

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

84,263

Charitable activities

Swimming pool

1,143,334

Other trading activities

85,424

Investment income

19,954

Total

1,332,975

EXPENDITURE ON

Raising funds

48,357

Charitable activities

Swimming pool

1,260,408

Total

1,308,765

NET INCOME

24,210