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 2023.
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: 09 May 2024
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 2023
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
REVENUE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST AUGUST 2023
| £ £ 54542 INCOME EXPENDITURE 328 Interest paid 403 Bank charges 4352 Rent 0 Advertising 45017 Utilities and service charges 1447 Merchandise 12170 Insurances 0 Staff costs 0 Leasing rentals 0 Legal, Professional and licence fees 2631 Depreciation 66348 -11806 SURPLUS (DEFICIT) FOR THE PERIOD -5000 Transferred to Capital Project 120199 Accumulated surplus brought forward 103393 Accumulated surplus carried forward 2022 |
NOTE £ £ 1 51310 328 379 4352 0 39293 1400 7051 0 0 0 2235 55038 -3728 -3728 2023 |
NOTE £ £ 1 51310 328 379 4352 0 39293 1400 7051 0 0 0 2235 55038 -3728 -3728 2023 |
|---|---|---|
| -3728 | ||
| -3728 |
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 | 54542 | Income | 0 | 51310 |
| 0 | -11806 | Surplus (deficit) | 0 | -3728 |
Page 2
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31ST AUGUST 2023
| £ £ NOTE FIXED ASSETS 243938 Tangible assets 3 CURRENT ASSETS 1400 Stock of merchandise 0 Debtors and prepayments 4 7001 Cash at bank and in hand - Revenue fund 8401 26036 CREDITORS:amounts falling due within one year -17635 NET CURRENT ASSETS/(LIABILITIES) 226303 TOTAL ASSETS LESS CURRENT LIABILITIES 5632 CREDITORS:amounts falling due after more than one year 220671 RESERVES 103393 Accumulated surplus - Revenue account 117278 - Capital account 220671 The notes on pages 5 to 7 form part of these accounts 2022 |
£ £ 267488 0 0 3015 3015 26036 -23021 244467 27524 216943 99665 117278 216943 2023 |
£ £ 267488 0 0 3015 3015 26036 -23021 244467 27524 216943 99665 117278 216943 2023 |
|---|---|---|
| 8401 26036 |
3015 26036 |
|
| 244467 27524 |
||
| 216943 | ||
| 99665 117278 |
||
| 216943 | ||
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 2023 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: 09 May 2024
A Lavelle ) Director
Page 3
ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST AUGUST 2023
| Capital Project Income Fund Funds £ £ 0 8792 0 45750 5000 5000 0 66348 5000 -16806 112278 120199 117278 103393 2022 Unrestricted |
Note Total £ Income Resources 8792 From Grants and Donations 45750 From Revenue operations 1 Transfer from Income Transfer to Capital Resources Expended 66348 Charitable Expenditure Deducted from capital assets On providing facility (Page 2) -11806 Net Incoming Resources 232477 Opening Reserves 220671 Closing Reserves |
Capital Project Fund £ 31515 0 31515 - 0 117278 117278 |
Unrestricted Income Funds Total £ £ 31515 51310 51310 - 31515 55038 55038 -3728 -3728 103393 220671 99665 216943 2023 |
Unrestricted Income Funds Total £ £ 31515 51310 51310 - 31515 55038 55038 -3728 -3728 103393 220671 99665 216943 2023 |
|---|---|---|---|---|
| -3728 220671 |
||||
| 216943 |
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
Page 4
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF ACCOUNTING POLICIES
FOR THE YEAR ENDED 31ST AUGUST 2023
-
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.
Page 5
ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
| INCOME- REVENUE ACCOUNT Merchandise Outside hire Donations and Grants From Andover Gym Club |
2023 2022 £ £ 0 1000 42800 31750 25 8792 8485 13000 51310 54542 |
|
|---|---|---|
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
| TANGIBLE ASSETS | ||||||||
|---|---|---|---|---|---|---|---|---|
| COST At 1st September 2022 Additions At 31st August 2022 DEPRECIATION At 1st September 2022 Charge for year At 31st August 2023 NET BOOK VALUE At 1st September 2022 At 31st August 2023 |
Building £ 229031 25785 254816 0 0 0 229031 254816 |
Fixtures and Fittings £ 55131 0 55131 53485 246 53731 |
Gym Equipment £ 158183 0 158183 144922 1989 146911 |
Mini Buses £ 22000 0 22000 22000 0 22000 0 0 |
Total £ 464345 25785 490130 220407 2631 222642 243938 267488 |
|||
| 1646 1400 |
13261 11272 |
|||||||
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.
Page 6
ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
| 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.
| 8 | ACCUMULATED SURPLUS- REVENUE ACCOUNT At 1st September 2022 Surplus (deficit) for the period Transferred to capital project At 31st August 2023 |
2023 £ 103393 -3728 0 99665 |
2022 £ 120199 -11806 -5000 |
|---|---|---|---|
| 103393 |
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.
Page 7
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 2023
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: 09 May 2024
Page 8