2021-03-31-accounts - Harrow School Of Gymnastics

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COMPANY	COMPANY	INFORMATION	INFORMATION	INFORMATION
Registered	Company		No		2585823
:'Registered	Charity No				1002258
:'Directors	(including		those who	served for any part ofthe Financial Year)
Chair					Nigel Clarke
Treasurer					Weldon Ramirez
Other					Lynsay Shaw
					Karsten Shaw
Principal	Address and Registered Office				186Christchurch		Avenue
					Harrow
					Middlesex HA3 5BD
Key Personnel		and Professional		Advisers
General Manager					Fliss Copp
Health, Safety		&Welfare Officers			Lynsay Shaw
Head Coach					Graham O' Sullivan
Bankers					NatWest Bank Plc
					80Shenley Road
					Boreham wood
					Hertfordshire	WD6 1DZ
					United Trust Bank
					1Ropemaker	Street
					London EC2Y9AW
					Hampshire Trust		Bank
					PO Box74003
					London EC2P	2QR
					Cambridge 4	Counties Bank
					Chamwood Court
					5BNew Walk
					Leicester LE1	6TE

Human	Resources	Citrus HR
		ISECharles Street Bath BAI
Independent	Examiner	Stephen Meredith FCA DChA
		Alliotts LLP
		Chartered Accountants
		Imperial House
		SKean Street London
		WC4B 4AS

			Year to	Year to	Year to	Year to	Year to	Year to
			February	March	March	March	March	March
			2016	2017	2018	2019	2020	2021
Recreational:
Playgym (age		under 5 years)	51	49	48	50	48	21
Pre-school	(ages 3 —5years)		191	201	202	170	157	0
Gymnastics	for All (ages 5 —15)		1,064	1,016	998	1,031	1,101	721
Adult gym			49	48	32	35	32	24
Competitive (including		Floor S.Vault):
Men's Artistic			27	44	47	31	23	18
Women's	Artistic		50	55	37	42	44	29
Total			1,432	1,413	1,364	1,359	1,405	813

(Including Income a	nd Expe	nditure Account)
						Unrestricted
					Total Funds
				Unrestricted		Funds Year
			Notes		Year ended	ended
					31/03/21
						31/03/20
Income from:
Donations				13	13	398
Charitable activities				89,967	89,967	564,054
Other incoming resources				4,948	4,948	34,464
Government grants	received			133,285	133,285
Investments				6,380	6,380	9,442
Total Income				234,592	234,592	608,358
Expenditure on:
Raising funds				3,903	3,903	16,757
Charitable Activities				777,019	777,019	463,550
Total expenditure				780,922	780,922	480,307
Net Income before	Transfers			-546,330	-546,330	128,051
Transfer Between Funds
Net movement in Funds				-546,330	-546,330	128,051
Reconciliation ofFunds
Total funds brought	forward	at I April 2020		1,385,730	1,385,730	1,257,679
Total funds carried	forward	at 31March 2021		839,400	839,400	1,385,730

				2021		2020
Fixed Assets
Tangible Assets				266,811		36,702
Current Assets
Stock			7,062		8,987
Debtors			29,403		8,858
Cash at bank	4 in hand		583,075		1,382,084
			619,540		1,399,929
Current Liabilities
Creditors: Amounts		falling due within one year	46,951		50,901
Net Current	Assets			572,589		1,349,028
Total Net Assets				839,400		1,385,730
Funds
Unrestricted	-Invested in Fixed Assets			266,811		36,702
Unrestricted	-Free Reserves			572,589		1,349,028
Total Funds				839,400		1,385,730

							2021		2020
					Notes
Cash flows from operating		activities
Cash generated from/(absorbed by) operations							(542,274)		161,992
Net cash	inflow/(outflow)	from operating	activities				(542,274)		161,992
Investing	activities
Payments	to acquire fixed assets					(263,115)		(26,980)
Interest received						6,380		9,442
Net cash	used in investing	activities					(256,735)		(17,538)
Net cash	(used in)/generated from financing			activities			(799,009)		144,454
Net (decrease)/increase in		cash and cash	equivalents				(799,009)		144,454
Cash and	cash equivalents at beginning ofyear						1,382,084		1,237,630
Cash and	cash equivalents	at end ofyear					583,075		1,382,084

	Charity information
	Harrow School ofGymnastics is aprivate limited company by Guarantee incorporated in England and Wales. The registered		office is
	186Christchurch Avenue, Harrow, Middlesex, HA3 SBD.
	Accounting convention
	The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and
	Reporting by Charities: Statement ofRecommended Practice applicable to charities preparing their accounts in accordance		with the
	Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102)" (as amended for accounting periods
	commencing from I January 2019).The charity is aPublic Benefit Entity as defined by FRS 102.
	The accounts are prepared in sterling, which is the functional currency ofthe charity. Monetary amounts in these financial		statements
	are rounded to the nearest X.
	The accounts have been prepared under the historical cost convention. The principal accounting policies
	adopted are set out below.
1.2	Going concern
	At the time ofapproving the accounts, also taking into account the potential effects ofthe Covid-19 pandemic, the Council		of
	Management have areasonable expectation that the charity has adequate resources to continue in operational existence for	the
	foreseeable future. Thus the Council ofManagement continue to adopt the going concern basis ofaccounting in preparing	the accounts.
1.3	Charitable funds
	Unrestricted funds are available for use at the discretion ofthe trustees in furtherance oftheir charitable objectives unless the funds have
	been designated for other purposes.
	Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses ofthe restricted funds
	are set out in the notes to the accounts.
1.4	Incoming resources
	Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts		can be
	measured reliably, and it is probable that income will be received.
	Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified ofthe donation,		unless
	performance conditions require deferral ofthe amount. Income tax recoverable in relation to donations received under Gift	Aid or deeds
	ofcovenant is recognised at the time ofthe donation.
	Grant income is recognised on receipt or otherwise ifthe charity has been notified ofan impending distribution, the amount		is known,
	and receipt is expected.
	Incoming resources are the amounts derived from the provision ofcharitable services, and stated after applicable discounts.
1.5	Resources expended
	Resources expended are accounted for an accruals basis. Certain expenditure is allocated and apportioned between costs of		generating
	funds and charitable expenditure by allocating costs on a fair basis, based on aspecific review ofthe expenditure incurred.
	Cost ofgenerating funds comprises costs which are associated with raising funds from all the possible sources ofincoming		resources.
	Support costs comprise costs for the training ofstaff, and have been allocated to sheltered accommodation in line with the	nature ofthe
	training. Governance costs comprise costs incurred in connection with administration ofthe charity and compliance and constitutional
	and statutory requirements. Salary costs have been allocated on the basis oftime engaged in each area ofactivity.

Employee benefits
The cost ofany 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 charity is demonstrably	committed to		terminate		the
employment ofan employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they	fall due.
Funds
The operating reserves are unrestricted funds which are available for use at the discretion ofthe	Trustees	in furtherance			ofthe		general
objects ofthe charity and which have not been designated for other purposes.
Taxation
No provision for taxation arises on the income ofthe Charitable Company due to its charitable	stutus.
Government grants
Government grants received are recognised at the fair value ofthe asset received or receivable when there		is reasonable			assurance			that the
grant conditions will be met and the grants will be received. Government grants relating to revenue expenditure			are	recognised			in income
on a systematic basis over the periods in which the entity recognises the related costs for which	the grant	is intended		to compensate.
During the year ending 31March 2021 the Charitable Company received f.133,285 (2020 —fnil) in respect ofthe Coronavirus							Job
Critical accounting estimates and judgements
In the application ofthe charity's accounting policies, the Council ofManagement are required	to make
judgements, estimates and assumptions about the carrying amount ofassets 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 Irom 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 ofthe revision and future periods where the revision affects both current	and future
periods.
Critical judgements
Tangible fixed assets
Tangible fixed assets are recorded at cost less accumulated depreciation and impairment losses.	Judgement is required to determine
whether there are indicators ofimpairment ofthe company's property, plant and equipment. Factors taken into			consideration				in reaching
such a decision include the economic viability and expected future financial performance ofthe	assets.
Key sources ofestimation uncertainty
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values,	where appropriate.			The actual			lives ofthe
assets and residual values are assessed annually and may vary depending on anumber offactors. In re-assessing			asset lives, factors such
as technological innovation, product life cycles and maintenance programmes are taken into account. Residual			value assessments
consider issues such as future market conditions, the remaining life ofthe asset and projected disposal values.
Impairment ofdebtor balances The charitable company makes an estimate ofthe recoverable value oftrade and other debtors .	When assessing		impairment			management
considers factors including the ageing profile ofamount due and historical experience.

Expenditure
				Staff Costs	Depreciation	Other	Total Year ended 31/03/21	Total Year ended
								31/03/20
Raising funds
Fundraising Trading	- Costs ofGoods Sold					3,903	3,903	19,931
Charitable Activities
Costs ofGymnastic	Coaching
Service running costs				271,420	19,234	1,594	292,248	339,747
Premises costs				939	10,427	419,243	430,609	52,964
Support costs				37,642		13,400	51,042	65,491
Governance Costs						3,120	3,120	3,000
				310,001	29,661	437,357	777,019	461,202
Total Expenditure				310,001	29,661	441,260	780,922	481,133
Other Costs
Governance Costs include:
Independent Examiner's		Remuneration					3,120	3,120
Employees
							2021	2020
Employment Costs
Wages &Salaries							293,167	342,692
Social Security Costs							12,115	15,838
Other pension costs							4,719	6,366
							310,001	364,896
The average number	of	persons employed	by				Number	Number
the Charitable Company		during the year	was:
Trustees
Coaches (mainly part-time)							38	38
Administration
							47	47

Tangible Fixed Assets
	Leasehold Land dk Buildings	Gymnasium Equipment	Fixtures, Fittings A Other Equipment	Total 31/03/21
Cost
As at 1 April 2020	155,444	95,218	42,571	293,233
Additions		184,989	78,126	263,115
As at 31March 2021	155,444	280,207	120,697	556,348
Depreciation
As at 1 April 2020	155,443	80,580	20,507	256,531
Charged in year		22,579	10,427	33,006
As at 31March 2021	155,443	103,159	30,934	289,537
Net BookValue
As at 1 April 2020		14,638	22,064	36,702
As at 31March 2021		177,048	89,763	266,811
Debtors
			2021	2020
All due within one year
Trade debtors			5,311
Other debtors			18,543
Prepayments			5,549	8,858
			29,403	8,858
Creditors
			2021	2020
All due within one year
Fees received in advance			31,540	33,408
Trade and Other Creditors			12,318	13,500
Taxes &Social Security Cost			3,093	3,993
			46,951	50,901

Funds
a) Analysis	ofMovement
ofFunds
					Net
			Balance	at	Incoming					Balance at
			01/04/20		Resources		Transfers			31/03/21
Unrestricted:			1,385,730		-546,330					839,400
Total Funds			1,385,730		-546,330					839,400
b) Analysis	ofNet Assets				Tangible Assets	Current Assets	Current Liabilities	Inter Fund Balances		Total 31/03/21
Unrestricted	-Invested	in Fixed Assets			266,811					266,811
Unrestricted	-Freereserves					619,540	(46,951)			572,589
Total Funds					266,811	619,540	(46,951)			839,400
Financial Commitments
At 31 March	2021,the	Charitable	Company	had annual	commitments under	a non-cancellable operating			lease of	its land as
follows:
							2021			2020
							113,000			124,300

Retirement benefit	schemes
The charity operates	adefined contribution		pension	scheme	for all qualifying	employees.	The assets ofthe scheme are held separately		from
those ofthe charity	in an independently	administered		fund.
The charge to profit	or loss in respect	ofdefined contribution			schemes was K4,719(2020		- X6,366).
Cash generated from operations
							2021	2020
							f.
Surplus/(deficit) for	the year						-546,330	128,051
Adjustments for:
Investments income							(6,380)	(9,442)
Depreciation oftangible fixed assets							33,006	11,162
Movements in working capital:
Decrease/(increase)	in stock						1,925	(1,899)
Decrease/(increase)	in trade and other	debtors					(20,545)	75,239
(Decrease)/increase	in trade and other	creditors					(3,950)	(41,119)
Cash generated from/(absorbed by)		operations					(542,274)	161,992