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

## **Gymnastic Trust Ltd** 

Email address: info@southendgymnastics.com Tel: 01702 460909 



**2** 

## **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