2022-03-31-accounts

ANNUAL REPORT 01/04/21-31/03/22

Gymnastic Trust Ltd

Email address: [e-mail] Tel: [phone]

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ANNUAL REPORT: GYMNASTIC TRUST LTD

Introduction

Gymnastic Trust Ltd is a registered charity established to promote and encourage the sport of gymnastics in Southend-on-Sea. Our goal is to provide support and resources to young people and communities who are interested in the sport, helping them to reach their full potential and achieve their goals.

Financial Overview:

In the past year, Gymnastic Trust Ltd has a total income of £176,424, including £12,900 in government grants. These have been used to invest in new equipment and facilities, provide training for coaches and instructors, and support young gymnasts in their competitions and events. The total expenditure for the year was £141,678.

Programme Activities:

Over the last year, we have continued to develop our programme in all areas of gymnastics. We have trained eight new coaches, developed our volunteer force and diversified our programme to include school and general classes for boys, girls, and adults, as well as children with special needs. Our competition programme has delivered 96 medals in the last year, and we have enhanced our main facility with new insulation and managed to purchase some new equipment. Our numbers have recovered to in excess of pre-pandemic numbers.

Outreach and Community Engagement:

The Gymnastic Trust Ltd is committed to promoting the sport of gymnastics in Southendon-Sea and reaching out to communities that may not have had access to these opportunities in the past. During the past year, we have worked closely with schools and community organizations to provide gymnastics classes and events and offer work experience practice.

Conclusion:

The past year has been a successful one for Gymnastic Trust Ltd, and we are proud of the progress we have made in promoting and supporting the sport of gymnastics. Our

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dedicated team of coaches, instructors, and volunteers has been instrumental in our success, and we would like to thank them for their hard work and dedication. As we move forward, we aim in the coming year to develop a more comprehensive programme, rededicating ourselves to promoting and providing a gymnastics experience to all areas of our local and regional community.

Signed, Svetlozar Jeliazkov, Chair - Gymnastics Trust Ltd

REGISTERED COMPANY f4UMBER: 03395875 (England and Wales) REGISTERED CHARITY NUMBER: 1064878 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR GYMNASTIC TRUST LTD. Clemence Hoar Cummings Chartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN A8JGIOIP 2311212022 COMPANIES HOUSE A27 137

GYMNASTIC TRUST LTD. CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report statement of Financial Activities Balance Sheet 6 to 7 Notes to the Financial Ststements 8 to 12 Detailed Statement of Financial Activities 13

GYMNASTIC TRusf LTD. REFERENCE AND ADMINZSTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022 TRUSTEES S Jeliazkov M J Murphy (appointed 191712021) COMPANY SECRETARY L Jeliazkova REGISTERED OFFICE Riverside House 1-5 Como Street Romford Essex RM7 7DN REGISTERED COMPANY NUMBER 03395875 (England and Wales) REGISTERED CHARITY NUMBER 1064878 INDEPENDENT EXAMINER Clemence Hoar Cummings Chartered Accountants Riverside House 1-5 Como st￿et Romford Essex RM7 7DN Page I

GYMNAsfic TRUST LTD. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The trustees who are also ¢Jirectors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ende¢J 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommende¢J Practice applicable to charities preparing their accotlnts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 20191- OBJEcfIvES AND ACTIvrrIES Objertives and aims The charity's objective and sole activity for the year is to maintain and make available for hire the use of a gymnastic centre. Charitable artivities The Charity has made available the gym centre for hire and will continue to do so and ensure that all expenditure is funded, as necessary. 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 Art 2006. Gymnastic Trust Ltd is a regIste￿￿ charity and a company lirnitetl by guarantee. The maximum liability of each member is limited to one pound. At 31 March 2022 the company had 2 members 12021 -2). Gymnastic Trust Ltd is governed by its Memorandum and Articles of Association. Recruitment and appointment of trustee5 Trustees, who are also Directors of the Company. are elected from the local community Induction and training of new trustees Newly appointed Trustees are provided with a comprehensive induction to the service and are encouraged to attend external training courses Oryanisational stnKture Gymnastic Trust Ltd is govemed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the condurt of the service and for ensuring that the tharity 5at15fies its legal and contrattual obligations. Risk management The twstees have a ¢Juty to identify and review the risks to which the charity is exposed and to ensure appropriate controls a￿ in place to provide ￿aSonable assurance against fraud and error. The trustees are not aware of any particular potential or artual areas of risk or problem. FINANCIAL REVIEW Reserves policy The tnjstees remain committed to mairhtaining sufficient reserves in the event of unforeseen circumstances arisin9 this policy is subject to a regular revtew of finances annually. Prlnclpal funding sources The charity is funded on the basis of expenditure. All expenditu￿ is funded in advance. Investment pollcy and objertives There is no investment policy. Public Beneflt The trustees have due regard to the guidance relating to public benefit published by the Charity Commission. The Club's activities are primarily intended for the benefit of the people of Southend on Sea and the surrounding areas. Our Club is open to all. regardless of age. race, gender, or sexual orientation. FUTURE PLANS Gymnastic Trust Ltd aims to continue to provide a gym coaching facilities. Page 2

GYMNASTIC TRusf LTD. REPORT OF ThE TRusfEES FOR THE YEAR ENDED 31 MARCH 2022 Approved by order of the board of trustees on 16 December 2022 antl signed on its behalf by: M J Murphy - Trustee Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF GYMNASTIC TRUST LTD. Independent examiner's report to the trustees of Gymnastic Trust Ltd. ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. Responsibilities and basls of report As the charity's trustees of the Company (and also rts directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the attounts of the Company are not required to be audited under Part 16 of. the 2006'Act and are eligible for independent examination. I report in respect of my exarnination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) Ib) of the 2011 Act. Independent examiner's statement I have completed my examination. I confinn that no matters have come to My attention in connection 'with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Att,. or the accounts do not accord with those ￿cord5- or the accounts do not cornply with the accounting requirements of Settion 396 of the 2006 Act 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,. or the accounts have not been prepared in atcordance with the methods and principles of the Statement of Recommended Practice for accounting and reportlng by charities {applicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Lee Blunden FCCA cfA Institute of Chartered Accountants in England & Wales Clemence Hoar Cummings Chartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN 16 December 2022 Page 4

GYMNASTIC TRUST LTD. STATEMENT OF FINANCIAL ACtivrTIES FOR THE YEAR ENDED 31 MARCH 2022 2022 Unrestritted fund 2021 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 163.524 Other trading activities 12,900 126,058 Total 176,424 126,058 EXPENDITURE ON Charitable activities Gymnastics 141.678 70,424 NET INCOME 34,746 55,634 RECONCILIATION OF FUNDS Total funds brought forward (31,546) (87,180) TOTAL FUNDS CARRIED FORWARD 3,200 (31.546) The notes fom part of these financial statements Page 5

GYMNASTIC TRusf LTD. BALANCE SHEET 31 MARCH 2022 2022 Unrestricted fund 2021 Total funds Notes FIXED ASSETS Tangible assets 4.440 CURRENT ASSETS Debtors Cash at bank 4&000 64 42,000 23,615 42.064 65,615 CREDITORS Amounts falling due within one year (23,31Y4) (77,161) NET CURRENT ASSETS/(LIABILmES) 18.760 (11,546) TOTAL ASSETS LESS CURRENT LIABILITIES 23.200 (11,546) CREDrfoRS Amounts falling ¢Jue after more than one year (20,000) {20,000) NET ASS￿51(LIABILrr]ES) 3.200 (31,546) FUNDS Unrestricted funds li 3.200 (31,546) TOTAL FUNDS 3,200 (31,546) The charitable company is entitled to exemption from audit under Settion 477 of the Companies Art 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Cornpanies Art 2006. 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 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 otherv4ise comply with the ￿quIrementS of the Companies Art 2006 relating to financial statements, so far as applicable to the charitable company. {b) The notes forni part of these financial statements Page 6 continued...

GYMNASTIC TRUST LTD. BALANCE SHEET - continued 31 MARCH 2022 These financial statements have been prepared in accordance with the provisions applicable" to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees antl authorised for issue on 16 December 2022 and were signed on its behalf by: M J Murphy - Trustee Tre notes form part of these financial statements Page 7

GYMNASTIC TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Basls of preparfng the flnancial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been p￿Pared 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 l January 2019),, Financial Reporting Standard 102 Yhe 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 incorne is recognised in the Statement of Financial Activities once the charity has entitlement to the fijnds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as the￿ is a legal or constructive obligation committing the chanty to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis Con￿Stent with the use of resources. Tangible ftxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 25% on reduang balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting. Unrestricted funds can be used in acCOrdar￿ with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes Wlthin the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raisetl for particular restricted purposes. Further explanation of the nature and purpose of each fvn(J is included in the notes to the financial statements. OTHER TRADING ACTivrriES 2022 2021 Charitable trading Grant income 85,773 40,285 12,900 11900 126,058 Page 8 continued...

GYMNAsfIc TRusf LTD. t40TES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 MARCH 2022 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after charging1(crediting)= 2022 2021 Accountants, remuneration Bookkeeping Depreciation - owned assets 923 11,070 I,LlO 805 2,808 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. Trustees. expertses There We￿ no tnjstees, expenses paid for the year ended 31 March 2022 nor for the year endetl 31 March 2021. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL AcrIvrrIES Unrestricted fund INCOME AND ENDOWMENTS FROM Other trading activities 126,058 EXPENDITURE ON Charitable activities Gymnastics 70,424 NET INCOME 55,634 RECONCILIATION OF FUNDS Total funds brought forward (87, 1801 TOTAL FUNDS CARRIED FORWARD (31,546) Page 9 continued...

GYMNASTIC TRUST LTD. t4OTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 TANGIBLE FIXED ASSETS Fixtures and fittings nt and machinery Totals COST At l April 2021 Additions 18.921 18,921 5,550 5,550 At 31 March 2022 18,921 5,550 24,471 DEPRECIATION At l April 2021 Charge for year 18.921 18.921 i.iio i.iio At 31 March 2022 18.921 I,iio 20,031 NEf BOOK VALVE At 31 March 2022 4.440 4.440 At 31 March 2021 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2022 2021 Other debtors 42,000 42,000 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2D21 Other creditors Other creditors - GymFun Accrued expenses 22,522 22,522 53,814 825 782 23,304 77,161 CREDITORS: AMOUNTS FALLING DVE AFTER MORE THAN 014E YEAR 2022 2021 Bank loans (see note 10) 20.000 20,000 10. LOANS An analysis of the maturity of loans is given below: 2022 2021 Amounts falling between one and two years: Bank loan5 - 1-2 years 20,000 20,000 Page 10 conts"nued...

GYMNASTIC TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 11. MOVEMENT IN FUNDS Net movement in funds At 31.3.22 At 1.4.21 Unrestricted funds General fund (31.546) 34.746 3,200 TOTAL FUNDS (31,546) 34.746 3,200 Net movement in funds. included in the above a￿ as follows: Incoming resources Resources expended Movement in fijnds Unrestricted funds General fund 176,424 (141.678) 34,746 TOTAL FUNDS 176.424 (141,678) 34,746 Comparatives for movement in funds Net movement in funds At 31.3.21 At 1.4.20 Unrestrlcted funds General fund (87,180) 55,634 (31,546) TOTAL FUNDS (87, 180) 55,634 (31,546) Comparative net movement in funds, induded in the above are as follows- Incolning resources Resources expen¢Jed Movement in funds Unrestri¢ted funds General ftjnd 126.058 {70,424) 55,634 TOTAL FUNDS 126,058 (70,424} 55,634 Page 11 continued.

GYMNASTIC TRusf LTD. NOTES TO THE FINANCIAL sfATEME14TS - continued "FOR THE YEAR ENDED 31 MARCH 2022 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds l At 31.3.22 At 1.4.20 Unrestricted funds General fund (87.180) 90.380 3,200 TOTAL FUNDS (87.180) 90,380 3,200 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follow5= Incoming resour￿$ Resource5 expended Movement in funds Unrestricted funds General ftjnd 302.482 (212.102) 90.380 TOTAL FUNDS 302,482 (212,102) 90,380 12. RELATED PARTY DISCLOSURES As at 31 March 2022 the Trustees have advanced a sum of £22.522 to facilitate the continued operation of the Charity. Page 12

GYMNAsfIc TRUST LTD. K)ETAILED STATEMENT OF FINANCIAL ACTivfTIES FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 INCOME AND ENDOWMENTS Donations and legacies Donations 163.524 Other tradlng artlvltles Charitable trading Grant income 85,773 40.285 12.900 12,900 126,058 Total incoming resources 176.424 126,058 EXPENDITURE Charitable activities Gym coaches Travelling 66,803 959 36,723 1,373 67,762 38,096 Support costs Management Insurance 762 Adrninistration costs Telephone Advertising Sundries Bank charges 1.146 5,010 2,564 871 635 55 690 9,591 Premises Costs Light and heat Rent Repairs 2,385 11,153 5,586 56.640 2,721 59.361 19,124 Other Fixtures and fittings i.iio Governance costs Accountants. remuneration Bookkeeping 923 11.070 805 2,808 11.993 3,613 Total resources expended 141.678 70,424 Net income 34.746 55,634 This page does not form part of the statutory financial statements Page 13