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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|8|
|Report ofthe Independent
Auditors|9|to|12|
|Statement ofFinancial Activities||13||
|Balance Sheet||14||
|Cash How Statement||15||
|Notes tothe Cash Flow Statement||16||
|Notes to the Financial Statements|17|to|28|
|Detailed Statement ofFinancial Activities|29|to|30|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|f,|f||g|
|INCOME AND ENDOWMENTS FROM|||||||
|Donations snd legacies||3|110,806||110,806|129,605|
|Charitable
activities|||||||
|Provision ofgymnastic|facilities||980,370||980,370|766,132|
|Other trading activities
Investmcnt
income||4
5|130,793
401||130,793
4D1|81,826
24|
|Total|||1,222,370||1422,370|97'7,587|
|EXPENDITURE ON|||||||
|Raising funds|||50,504||5D,504|29387|
|Charitable
activities|||||||
|Provision ofgymuLstic|facilities||1,102,503||1,102,503|1,035,827|
||||1,153,007||1,153,007|1,065,114|
|NET INCOME/(EXPENDITURE)|||69,363||69,363|(87,527)|
|Transfers between funds||24|199,670|{199,670)|||
|Net movement
in Itmds|||269,033|(199,670)|69,363|(87,527)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought forward|||(266,231)|199,670|(66,561)|20,966|
|TOTAL FUNDS CARRIED FORWARD|||2,802||2,802|{66,561)|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|fbnds|
|||Notes|f|E|||
|FIXEDASSETS|||||||
|Tangible assets||15|220,969||220,969|308+64|
|CURRENT ASSETS|||||||
|Stocks||16|336||336|3,713|
|Debtors||17|23,411||23,411|1,993|
|Cash at bank aud in hand|||167,038||167,038|166,294|
||||190,785||190,785|172,000|
|CREDITORS|||||||
|Amounts
falling due within one year||18|(104,900)||(104,900)|(114,100)|
|NET CURRENT ASSETS|||85,885||85,885|57,900|
|TOTAL ASSETS|LESSCURRENT||||||
|LIABILITIES|||306,854||306,854|366,164|
|CREDITORS|||||||
|Amounts
falling due after more than onc year||19|(111,762)||(111,762)|(157,629)|
|PROVISIONS FORLIABILITIES||22|(47,500)||(47„500)|(47,500)|
|ACCRUALSAND|DEFERRED INCOME|23|(144,790)||(144,790)|(227,596)|
|NKT ASSETS|||2,802||2,802|(66,561)|
|FUNDS||24|||||
|Unrestricted
funds|||||2,802|(266331)|
|Restricted funds||||||199,670|
|TOTAL FUNDS|||||2,802|(66,561)|
##
|||||||2022|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash flows from operating
activities
Cash generated
from operations|||||82,412|(96,096)|
|Interest paid|||||(10,569)|(3,495)|
|Net cash provided
by/(used||in) operating||activities|71,843|(99,591)|
|Cash flows from Investing||activities|||||
|Purchase oftangible fixed assets
Sale oftangible fixed assets|||||(25,633)|(29,475)
3,500|
|Interest received|||||401|24|
|Net cash used in investing|activities||||(25,232)|(25,951)|
|Cash flows frotn flnanclng||activities|||||
|Loan repayments
in year|||||(45,867)|(24,002)|
|Net cash used in fmancing|activities||||(45,867)|(24,002)|
|Change ln cash and cash|equivalents||in||||
|the reporting
period||||||(149,544)|
|Cash and cash equivalents||at the|||||
|beginning ofthe reporting||period|||166/94|315,838|
|Cash and cash equivalents||at the end|of||||
|the reporting
period|||||167,038||
##
|RECONCILIATION
OFNKT INCOME/(EXPENDITURE)|RECONCILIATION
OFNKT INCOME/(EXPENDITURE)|TO NKT CASH FLO% FROM||
|---|---|---|---|
|OPERATING ACTIVITIES||||
|||2023|2022|
|Net income/(expenditure)
for the reporting|period (as per the|||
|Statement ofFinancial Activities)||69,363|(87,527)|
|Adjustments
for:
Depreciation
charges
Loss/(profit)
on disposal offixed assets||111,933
995|128,785
(3,500)|
|Interest received||(401)|(24)|
|Interest paid||10,569|3,495|
|Decrease/(incresse)
in stocks||3,377|(1,603)|
|(Increase)/decrease
in debtors||(21,418)|6,694|
|Decrease in creditors||(92,006)|(142,416)|
|Net cash provhled
by/(used
la) operations||82,412|(96,096)|
|ANALYSIS OF CHANGES IN NET (DEBT)/|FUNDS|||
|---|---|---|---|
||At 1.9.22|Cash flow|At 31.8.23|
|||f.||
|Net cash||||
|Cash at bank and in hand|166/94|744|167,038|
||166,294|744|167,038|
|Debt||||
|Debts fiLIIing duc within 1year|(45,950)||(45,950)|
|Debts falling duc afler 1 year|(157,629)|45,867|(111,762)|
||(203,579)|45,867|(157,712)|
|Total|(37,285)|46„611|9,326|
##
##
|3.|DONATIONS|AND LEGACIES|||
|---|---|---|---|---|
||||2023|2022|
|||||I|
||Grants||110,806|127,356|
||Job Retention Scheme|||2+49|
||||110,806|129,605|
||Grants received,|included in the above, are as follows:|||
||||2023|2Q22|
|||||g|
||ALC Grant||82,806|93,356|
||BAD Council Grant||28,0QQ|28,000|
||Other Grants|||6,000|
||||110,806|127,356|
|4.|OTHER TRADING ACTIVITIES||||
||||2023|2022|
||Sponsorships
Shop income
Cafe income||11,773
4,191
11,574|1,719
9,430
2,635|
||Fundraising
events
Birthday parties
Room and coach hire||49,598
7,140
6,792|18,049
11323
4,020|
||Other income||186|966|
||Holiday club||39,539|33,784|
||||130,793|81,826|
|5.|INVESTMENT INCOME||||
||||2023|2022|
||Interest receivable - trading||401|24|
##
|6.|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||Gymnastic
fees &||||||||
||subscription
Gymnastic
competitions||Provision ofgymnastic
Provision ofgymnastic||facilities
facilities||961,223
19,147|742,838
23/94|
||||||||980,370|766,132|
|7.|RAISING FUNDS||||||||
||Other trading activities||||||||
||||||||2023|2022f|
||Purchases||||||21,598|14/93|
||Bad debts||||||14|1,700|
||Other costs||||||17,922|4,621|
||Events costs||||||401|4,904|
||Holiday club costs
Interest payable and similar charges||||||10,569|274
3,495|
|||||||||29/87|
|g.|CHARITABLE ACTIVfI'IES||COSTS||||||
||||||||Support||
|||||||Direct|costs (see||
|||||||Costs|note 9)|Totals|
||||||||E|f,|
||Provision ofgymnastic|facilities||||976,769|125,734|1,102,503|
|9.|SUPPORT COSTS||||||||
||||||||Governance||
|||||Management||Finance|costs
f|Totals|
||Provision ofgymnastic|facilities||105,398||13,072|7,264|125,734|
|10.|NET INCOME/(EXPENDITURE)||||||||
||Net income/(expenditure}|is stated after charging/(crediting):|||||||
||||||||2023|2022|
||||||||f,||
||Depreciation - owned assets||||||111,933|128.785|
||(Deficit)/surplus
on disposal offixed assets
Operating
lease rentals||||||995
38,500|(3,500)
42,000|
##
##
##
##
##
|STAFFCOSTS|||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||f.||
|Wages snd salaries|||||669,255|612,400|
|Social security costs|||||42,474|42,169|
|Other pension costs|||||11,373|14,514|
||||||723,102|669,083|
|The average monthly|number ofemployees|||during the year was as follows:|||
||||||2023|2022|
|Average number ofstaK|||||50|43|
|No employees
received||emohunents|in excess off60,000.||||
|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES|||||||
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|INCOME AND ENDOWMENTS|||FROM||||
|Donations
and legacies||||36,249|93,356|129,605|
|Charitable
activities|||||||
|Provision ofgymnastic||facilities||766,132||766,132|
|Other trading activities||||81,826||81,826|
|Investment
income||||24||24|
|Total||||884,23]|93,356|977,587|
|EXPENDITURE ON|||||||
|Raising funds||||33,812|(4,525)|29,287|
|Charitable
activities|||||||
|Provision ofgymnastic||facilities||1,032,256|3,571|1,035,827|
|||||Pae21||connnued. ..|
##
|14,|COMPARATIVKS FOR THK STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVKS FOR THK STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVKS FOR THK STATEMENT OF FINANCIAL ACTIVITIES|-continued||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||f.|f,|f,|
||||1,066,068|(954)|1,065,114|
||NKT INCOME/(EXPENDITURE)||(181,837)|94,310|(87,527)|
||RECONCILIATION|OF FUNDS||||
||Total funds brought forward||(84,394)|105,360|20,966|
||TOTAL FUNDS CARRIED FORWARD||(266,231)|199,670|(66,561)|
|15.|TANGIBLE FIXEDASSETS|||||
|||||Improvements||
||||Long|to|Plant and|
||||leasehold|property
f|machinery|
||COST|||||
||At 1 September 2022
Additions||1,631,814|157,722|313,377
17,356|
||Disposals||||(28,233)|
||At 31August 2023||1,631,S14|157,?22|302,500|
||DEPRECIATION|||||
||At
1 September 2022
Charge foryear
Eliminated
on disposal||1,398,062
81,591|136,118
5,223|265,089
20,992
(27,238)|
||At 31August 2023||1,4'79,653|141,341|258,843|
||NET BOOK VALUE|||||
||At 31August 2023||152,161|16,381|43,657|
||At 31August 2022||233,752|21,604|48,288|
|15.|TANGIBLE FIXEDASSETS - continued||||
|---|---|---|---|---|
||||Computer||
||||eqmpment|Totals
f|
||COST||||
||At 1 September 2022|23,311|28,248|2,154,472|
||Additions|7,066|1,211|25,633|
||Disposals|||{28,233)|
||At 31August 2023|30,377|29,459|2,151,872|
||DEPRECIATION||||
||At 1 September 2022|23,311|23,628|1,846,208|
||Charge foryear
Eliminated
on disposal|1,413|2,714|111,933
(27,238)|
||At 31August 2023|24,724|26,342|1,930,903|
||NET BOOK VALUE||||
||At 31August 2023|5,653|3,117|220,969|
||At 31August 2022||4,620|308,264|
|16.|STOCKS||||
||||2023|2022|
||||f||
||||336|3,713|
|17.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||2023|2022|
||||f|I|
||Trade debtors||785|795|
||Other debtors||9,733|663|
||Prepayments||12,893|535|
||||23,411|1,993|
##
##
##
|CREDITORS: AMOUNTS FALLING DUK WITHIN|ONE YEAR||
|---|---|---|
||2023|2022|
|Other loans (sce note 20)
Trade creditors|45,950
8,171|45/50
11,598|
|Social security and other taxes|10,894|9,579|
|Other creditors|7,364|7,403|
|Accrued expenses|32,521|39,570|
||104,900|114,100|
|Included
within creditor
is as follows:|s above is deferred income tota|lling f1,400 (2022-f23,176),The movem|ent
in the ye|
|---|---|---|---|
|||Charitable||
|||activities|Total|
|At 1 September 2022||23,176|23,176|
|Released &om previous|years|(23,176)|(23,176)|
|Deferred in the current|year|1,400|1,400|
|At 31August 2023||1,400|1„400|
##
##
|CREDITORS: AMOUNTS|FALLING DUE AFTER MORE TH|AN ONE YEAR||
|---|---|---|---|
|||2023|2022|
|Other loans (sccnote 20)||111,762|157,629|
|LOANS||||
|An analysis ofthe maturity ofloans is given below:||||
||||2022|
|Amounts
tailing due within one year on demand:
Other loans||45„950|45,950|
|Amounts
faIling duc between
Other loans - 2-5 years|two «nd tive years:|111,762|157.629|
##
|||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
||Within one year
Between one and five years|||||||42,QQQ
42,000|42,QQQ
84,000|
||||||||||126,000|
|22.|PROVISIONS||FORLIABILITIES|||||||
|||||||||2023|2022|
||Provisions|||||||47,500|47,500|
|23.|ACCRUALS|AND DEFERRED INCOME||||||||
|||||||||2023|2022|
|||||||||f.|g|
||Deferred government|||grants||||144,790|227/96|
|24.|MOVEMENT||IN FUNDS|||||||
||||||||Net|Transfers||
||||||||movement|between|At|
||||||At|1.9.22|in funds|funds|31.823|
|||||||f|||f|
||Unrestricted|funds||||||||
||General fund||||(266,231)||(13,443)||(279,674)|
||Designated
fund||||||82,806|199,67Q|282,476|
||||||(266,231)||69,363|]99,670|2,802|
||Restricted funds|||||||||
||Building fund||||23772|||(23,772)||
||Leasehold
fimd||||175,898|||(175,898)||
||||||199,670|||(199,670)||
||TOTAL FUNDS||||(66,561)||69,363||2,802|
||Net movement||in funds„mciuded in the above||are as follows..|||||
||||||||Incoming|Resources|Movement|
||||||||resources|expended|in funds|
||||||||f.|g||
||Unrestricted|funds||||||||
||General fund||||||1,139,564|(1,153,007)|(13,443)|
||Designated
fund||||||82,806||&2,806|
||||||||1422,370|(1,153,007)|69,363|
||TOTAL FUNDS||||||1,222,370|(1,153,007)|69,363|
||||||Pae25||||continued. ..|
##
##
##
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.9.21|in funds|31.8.22|
|Unrestricted
funds||||
|General fund|(84,394)|(181,837)|(266,231)|
|Restricted funds||||
|Building fund
Leasehold
fund|25,625
82,542|(1,853)
93,356|23,772
175,898|
|Equipment
replacement|(2,859)|2,859||
|Sport England|52|(52)||
||105,360|94,310|199,670|
|TOTAL FUNDS|20,966|(87,527)|(66,561)|
|Comparative
net movement|in funds, included in the above are as follows;|||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||E|K||
|Unrestricted
funds||||
|General fund|884,231|(1,066,068)|(1&1,837)|
|Restricted
Sanda||||
|Building
fund
Leasehold
fimd|93,356|(1,853)|(1,853)
93,356|
|Equipment
replacement
Sport England||2,S59
(52)|2,S59
(52)|
||93,356||94,310|
|TOTALFUNDS|977,587|(1,065,114)|(87,527)|
##
##
|A current year 12months and prior y|ear 12months
combined po|sition is as follow|s:||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1.9.21|in funds|funds|31.8.23|
|earestricted
funds|||||
|General fund|(84,394)|(195,280)||(279,674)|
|Designated
fund||82,806|199,670|282,476|
||{84,394)|(112,474)|199,670|2,802|
|Restricted funds|||||
|Building fund
Leasehold
fund|25,625
82,542|(1,853)
93,356|{23,772)
{175,898)||
|Equipment
replacement|{2,859)|2„859|||
|Sport England|52|(52)|||
||105,360|94,310|(199,670)||
|TOTAL FUNDS|20,966|(18,164)||2,802|
|A current year 12months
and prior year 12
as follows:|months
combined net movement
in|funds, included
i|n the above
|
|---|---|---|---|
||Incoming|Resources|Movement|
||resources|cxpcndcd|in funds|
|Unrestricted
funds||||
|General fund|2,023,795|(2,219,075)|(195,280)|
|Designated
fund|82,806||82,806|
||2,106,601|(2,219,075)|(112,474)|
|Restricted funds||||
|Building fund
Leasehold fund|93,356|{1,853)|(1,853)
93,356|
|Equipment
replacement
Sport England||2,859
(52)|2,859
(52)|
||93,356|954|94,310|
|TOTAL FUNDS|2,199,957|(2,218,121)|{18,164)|
##
##
##
|||2022|
|---|---|---|
|INCOME AND ENDOWMENTS|||
|Donations
and legacies|||
|Grants|110,806|127,356|
|Job Retention Scheme||2/49|
||110,806|129,605|
|Other trading activities
Sponsorships
Shop income
Cafe income|11,773
4,191
11,574|1,719
9,430
2,635|
|Fundraising
events|49,598|18,049|
|Birthday parties
Room and coach hire|7,140
6,792|11@23
4,020|
|Other income|186|966|
|Holiday club|39,539|33,784|
||130,793|81,826|
|Investment
income|||
|Interest receivable
—trading|||
|Charitable
activities|||
|Gymnasnc
fees Bcsubscription|961/23|742,838|
|Gymnastic
competitions|19,147|23@94|
||980,370|766,132|
|Total incoming resources|1,222,370||
|EXPENDITURE|||
|Other trading
activities|||
|Purchases - shop and cafe
Purchases - insurance|17,633
3,965|11,894
2/99|
|Baddebts|14|1,700|
|Other costs|17,922|4,621|
|Events costs|401|4,904|
|Ho1iday club costs
Bank interest|10,569|274
3,495|
||50,504|29.287|
|Charitable
aetlvlties|||
|Wages
Carried forward|669,255
669,255|612,400
612,400|
##
##
||2023|2022|
|---|---|---|
||E||
|Charitable
activities|||
|Brought forward
Social security
Pensions|669,25$ 42,474
11,373|612,400
42,169
14/14|
|Rent and service charges
Insurance|40,073
6,171|37,785
5/89|
|Light and hest
Travelling
Competitions
Depreciation oftangible fixed assets|67,280
8,904
19,306
111,933|24„713
6,641
21,157
128,785|
||976,769|893,453|
|Support costs|||
|Management
Telephone
Postage and stationery
Advertising
Sundries|5,796
5,145
746
4,352|5,782
4,924
527
3@86|
|Repairs and maintenance
Hire ofequipment
TralMlg
Bookkeeping &accountancy
Computer
expenses|29,004
11,815
13,242
61840
28,458|49,700
14,415
10,761
6,615
19,677|
||105,398|115,687|
|Finance|||
|Bank charges
Loss on sale oftangible fIxed assets|12,077
995|24,667
{3,$00)|
||13,072|21,167|
|Governance
costs|||
|Auditors'
remuneration|7,264|5/20|
|Total resources expended|1,153,007|1,065,114|
|Net incomel(expenditure)|69,363|(87,527)|