ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
REPORT OF THE MANAGEMENT COMMITTEE
Registered Office: 1 Farm Park Road, Abbotts Ann, Andover, Hants SP11 7AU
The Management Committee have pleasure in presenting their Report of the Club for the year to 31st August 2022.
The Management Committee
The governing body of the company is the Management Committee together with its company directors and charity trustees. The Management and structure of the charity have been reviewed and re-organised to enhance and strengthen the functioning of the Management Committee.
Principal Activity
The principal activity of the club is the promotion of gymnastics. The company provides gymnastics coaching facilities in association with Andover Gym Club Limited. - a non profit making club that trains gymnasts and is based at the Salto Centre.
The Charity operates a purpose built gymnastics centre in Andover. It has achieved National Centre of Excellence status.
Share Capital
The company is limited by guarantee and does not have a share capital.
The liability of the members under their guarantee is limited to a sum not exceeding one pound per member.
Reserves
The charity aims to cover its running costs each year and produce a modest surplus to add to reserves.
Charitable Status
The company is registered with the Charity Commissioners for England and Wales as a charity; its registered charity number is 1035811. It is governed by its Memorandum and Articles of Association.
Risk Management Policy
The charity is focusing on two key areas of risk management policy. A strategy has been developed to re enhance and refocus its key values and services. A plan has been prepared to upgrade and expand facilities to safeguard the future and viability of the charity as a leading gymnastics centre.
Dividends
The memorandum and articles of association of the company do not permit the payment of dividends.
Directors
The directors in office during the period were:-
A. Lavelle D. Roberts
Independent Examiners
The company's independent examinors are C B Heslop And Company Limited, Chartered Accountants of 1 High Street, Thatcham, Berkshire RG19 3JG.
By Order of the Board
Date: 02.03.2023
D Roberts
Page 1
Company Number 02832211 Charity Number 1035811
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
REVENUE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST AUGUST 2022
| £ £ 51793 INCOME EXPENDITURE 0 Interest paid 393 Bank charges 4352 Rent 0 Advertising 22578 Utilities and service charges 0 Merchandise 15481 Insurances 0 Staff costs 0 Leasing rentals 0 Legal, Professional and licence fees 3095 Depreciation 45899 5894 SURPLUS (DEFICIT) FOR THE PERIOD 0 Transferred to Capital Project 114305 Accumulated surplus brought forward 120199 Accumulated surplus carried forward 2021 |
NOTE £ £ 1 54542 328 403 4352 0 45017 1447 12170 0 0 0 2631 66348 -11806 -5000 120199 103393 2022 |
NOTE £ £ 1 54542 328 403 4352 0 45017 1447 12170 0 0 0 2631 66348 -11806 -5000 120199 103393 2022 |
|---|---|---|
| -11806 -5000 120199 |
||
| 103393 |
The notes of pages 5 to 7 form part of these accounts
Operations
None of the core operations were discontinued
| Not | Continuing | Not | Continuing | |
|---|---|---|---|---|
| Continuing | Continuing | |||
| £ | £ | £ | £ | |
| 0 | 51793 | Income | 0 | 54542 |
| 0 | 5894 | Surplus (deficit) | 0 | -11806 |
Page 2
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31ST AUGUST 2022
| £ £ NOTE FIXED ASSETS 246569 Tangible assets 3 CURRENT ASSETS 1400 Stock of merchandise 0 Debtors and prepayments 4 6553 Cash at bank and in hand - Revenue fund 7953 12416 CREDITORS:amounts falling due within one year (4463) NET CURRENT ASSETS/(LIABILITIES) 242106 TOTAL ASSETS LESS CURRENT LIABILITIES 9629 CREDITORS:amounts falling due after more than one year 232477 RESERVES 120199 Accumulated surplus - Revenue account 112278 - Capital account 232477 The notes on pages 5 to 7 form part of these accounts 2021 |
£ £ 243938 1400 0 7001 8401 26036 -17635 226303 5632 220671 103393 117278 220671 2022 |
£ £ 243938 1400 0 7001 8401 26036 -17635 226303 5632 220671 103393 117278 220671 2022 |
|---|---|---|
| 7953 12416 |
8401 26036 |
|
| 226303 5632 |
||
| 220671 | ||
| 103393 117278 |
||
| 220671 | ||
The company is entitled to exemption conferred by section 477 Companies Act 2006 not to have these accounts audited and the members have not required an audit under section 476 Companies Act 2006. The directors acknowledge their responsibilities for ensuring that:
i. The company keeps accounting records which comply with sections 386 and 387 Companies Act 2006 and ii. The accounts give a true and fair view of the state of affairs of the company as at 31st August 2022 and of its result for the year then ended in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements on pages 1 to 7 were approved by the Board of Directors.
On: 02.03.2023
A Lavelle ) Director
Page 3
ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST AUGUST 2022
| Capital Project Income Fund Funds £ £ 35854 - 51793 0 0 - 0 6800 - 45899 29054 5894 83224 114305 112278 120199 2021 Unrestricted |
Note Total £ Income Resources 35854 From Grants and Donations 51793 From Revenue operations 1 - Transfer from Income - Transfer to Capital Resources Expended Charitable Expenditure 6800 Deducted from capital assets 45899 On providing facility (Page 2) 34948 Net Incoming Resources 197,529 Opening Reserves 232477 Closing Reserves |
Capital Project Fund £ 0 0 5000 0 - 5000 112278 117278 |
Unrestricted Income Funds Total £ £ 8792 8792 45750 45750 5000 66,348 66348 - -16806 -11806 120199 232477 103393 220671 2022 |
Unrestricted Income Funds Total £ £ 8792 8792 45750 45750 5000 66,348 66348 - -16806 -11806 120199 232477 103393 220671 2022 |
|---|---|---|---|---|
| -11806 232477 |
||||
| 220671 |
All income reserves are unrestricted funds and are applied to the charitable purposes set out in the governing document.
Periodically the charity has benefited from capital grants for specific projects and these are treated as restricted funds and passed through the capital project fund and matched against the relevant capital expenditure.
Capital Project Fund
The balance represents incoming restricted funds, the sole purpose for which was the funding of the building project.
The notes on pages 5 to 7 form part of these accounts
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ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF ACCOUNTING POLICIES
FOR THE YEAR ENDED 31ST AUGUST 2022
-
a) Basis of Accounting The financial statements of the charity, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
-
b) Income and Expenditure Income and Expenditure is stated on the accruals basis.
-
c) Depreciation Depreciation has been provided on fixed assets at the following rates
Fixtures & fittings 15% written down value Gym equipment 15% written down value Mini buses 25% written down value
- d) Cash Flow Statement The company has taken advantage of the exemption under FRS1 1 and has not produced a cash flow statement on the grounds that it is a small company.
STATEMENT OF MANAGEMENT COMMITTEE'S RESPONSIBILITIES
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to:
-
a) select suitable accounting policies and then apply them consistently;
-
b) make judgements and estimates that are reasonable and prudent;
-
c) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2022
| INCOME- REVENUE ACCOUNT Merchandise Salto donations, gift aid, gifts etc Outside hire Fitness membership Fitness classes Courses Donations and Grants Tax refunds Salto Judo From Salto Kids Club From Andover Gym Club Other income |
2022 2021 £ £ 1000 0 0 0 31750 9317 0 0 0 0 0 8792 42476 0 0 0 0 0 0 13000 0 54542 51793 |
|
|---|---|---|
1 INCOME - REVENUE ACCOUNT
2 TAXATION
The directors are of the opinion that the company is not liable for corporation tax on its income as it is a registered charity.
3 TANGIBLE ASSETS
| COST At 1st September 2021 Additions At 31st August 2022 DEPRECIATION At 1st September 2022 Charge for year At 31st August 2022 NET BOOK VALUE At 1st September 2021 At 31st August 2022 |
Building £ 229031 0 229031 0 0 0 229031 229031 |
Fixtures and Fittings £ 55131 0 55131 53194 291 53485 |
Fixtures and Fittings £ 55131 0 55131 53194 291 53485 |
Gym Equipment £ 158183 0 158183 142582 2340 144922 |
Mini Buses £ 22000 0 22000 22000 0 22000 0 0 |
Total £ 464345 0 464345 217776 2631 220407 246569 243938 |
||
|---|---|---|---|---|---|---|---|---|
| 1937 1646 |
15601 13261 |
|||||||
The building stands on land at Charlton, Andover leased from Test Valley Borough Council on a 99 year lease.
Depreciation on the building has been considered each year. The balance sheet carrying amount represents original build cost less capital grants received for the purpose, plus additions. Every year a thorough programme is carried out to keep the facility in good repair and condition and the costs of this are charged to expenditure annually.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2022
| 4 5 6 |
DEBTORS Grants outstanding CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Creditors and accruals Bank loan Due to AGC Other loans CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Provisions on building project Bank loan |
|
|---|---|---|
7 SHARE CAPITAL
The company is limited by guarantee and does not have a share capital. The liability of the members under their guarantee is limited to a sum of not exceeding one pound per member.
| ACCUMULATED SURPLUS- REVENUE ACCOUNT At 1st September 2021 Surplus (deficit) for the period Transferred to capital project At 31st August 2022 |
2022 £ 120199 -11806 -5000 103393 |
2021 £ 114305 5894 0 |
|---|---|---|
| 120199 |
8 ACCUMULATED SURPLUS - REVENUE ACCOUNT
9 LEASING COMMITMENTS
The company had a commitment under a 99 year lease on land at Charlton, Andover for an annual nominal rental of £4,452. This has been re negotiated by the landlord TVBC to include for TVBC a share of the rental profit generated from outside hire.
10 TRUSTEES
None of the Trustees receive remuneration or expenses from the charity for acting as Trustees. A Lavelle and D Roberts are gymnastics coaches and are paid fixed salaries by Andover Gym Club Limited as coaches who train gymnasts.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANDOVER SALTO GYMNASTICS CLUB LIMITED
Independent examiner's report to the trustees of Andover Salto Gymnastics Club Limited
We report to the charity trustees on our examination of the accounts of the Andover Salto Gymnastics Club Limited (the club) for the year ended 31st August 2022
Responsibilities and basis of report
As the charity trustees of the club you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
We report in respect of our examination of the club's accounts carried out under section 145 of the Act and in carrying out our examination we have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act .
Independent examiner's statement
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the club as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
We confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
C.B. Heslop And Company Limited, Chartered Accountants, 1 High Street, Thatcham, Berkshire RG19 3JG
Date: 02.03.2023
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