## **Kingsbridge Gymnastics Club Trustees Report** Present; M Edmonds, A Masters,( C Povey by correspondence) The Trustees met to discuss and examine the activities and governance of Kingsbridge Gymnastics Club. In challenging year unwinding from The Covid crisis The Club has cotinued to thrive. The Trustees are grateful to The Committee and coaches for their hard work and dedication. The Club has had sound leadership and continues to be conducted in accordance with the charitable object. Finances are also sound but Trustees would like to see more active fundraising from the bottom up. Squad sponsor and competition fundraising will reduce the burden on the recreational income and should be a priority. Club Championships will take place this year for the first time since 2016!, this is very welcome news. The Committee should remain mindful that Club Championships are an integral part of our constitution and every effort should be made to hold it each year. It is also a showcase for the Club and a good source of fundraising. Trustees are aware a properly constituted Chair, Treasurer and Secretary are being in post and will monitor progress offering assistance and advice as and when needed. Building projects are planned to include a new accessible entrance for those with mobility challenges, changing rooms and opening up and aking safe the balcony / mezzanine area. The Trustees congratulate all those involved with keeping the club operational in accordance with professional standards. The volunteers, administrators, fundraisers and building work devotees should not be overlooked. We are here to support the young people in our community or those with additional needs and the enthusiasm of the coaches and members demonstrates this in volumes. KINGSBRIDGE GYMNASTICS CLUB FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2022 REGISTERED CHARITY NO: 1069625 KtNGSBRIDGE GYMNASTICS CLUB Independent Examiners, Report to the Trustees of Kingsbridge Gymnasties Club Respective responsibilities of the Trustees and IndepeDdent EIaminer As the charity's trustees you are responsible for the preparation of the accounts9 you consider that the audit requirement of section 43{2) of the Charities Act 1993 (the Act) docs not apply. It is ow reswnsibility to state, on the basis of procedures sp¢cified in the General Directions given by the Charity Cornmission¢TS under section 43(7)(b) of the ACL whether p8rticular matters have come to out attention. Basis of oplnion Our examination was carried out in accordance with the General Directions given by the Charity Commissioners, An examination includes a review of the acwunting records kept by the charity and a compaTison of the accounts presented with those records. It also includes CO￿81deratiOn of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidene2 that would Et required in an audit and consequ¢ntly we do nol express an audit opinion on the view given by the accounts. In connection with OUT examinatioffj no matter has come to our attention l. which gives us reasonable cause to believe that in any material respect the requiremcnts to keep a￿OuntIng recoTds in accordance with section 41 of the act: and to prepatt accounts which ￿0rd with the accounting records and to comply with the accounting requirement of the Act. bave not been met: or 2. to which, in our opinio￿ attention should be thawn in order to enable a proper understanding of the accounts is reached. SoLoMovL Ltd Helen Solomon Ltd Chartered Certified Accountants Unit 4G, South Hams Business Park Churchstow Kingsbridge Devon TQ7 3QH September 2023 Page I KINGSBIUDGE GYMNASTICS CLUB INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2022 2022 2021 RECEIPTS Subscriptions and Summer Training Insurance and Memberships Kits, badges and Grades Donations Fundraising Bank interest Received 81,272.00 3,809.00 2,564.00 47,913 1.590 768 449 751 1.458.00 51.00 15,635.00 22,620 104,789 74,093 EXPENDITURE Kit, Badges and Grades Rent Light and Heat Wages, Pensions and Self Employed Staff Training and Associated Costs Office Administration Expenses tnsurance Equipment replacements Building Repairs and Maintenance Staff Clothing Advertising ar￿ Promotions Subscriptions and BAGA Legal fees Accountancy Bank Charges Sundry Expenditure Depreciation 2,301 20.936 3,735 43,759 915 1.534 1,871 12,484 1.732 1,779 10,083 586 24,579 590 698 9,552 4,257 405 885 308 loo 90 94 642 30 180 122 75 2,830 108 2,377 93,240 56,397 Net Surplus Expenditure Over Income 11,549 £ 17,696 Page 2 KINGSBRIDGE GYMNASTICS CLUB BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2022 2022 2021 FIXED ASSETS Gym Equipment Office Equipment 10,146 882 11.028 8,146 1,113 9.259 CURRENT ASSETS Stock of Clothing for Resale Current Account Deposit Account 2,756.00 24.790 24,644 52,190 16,784 24,594 41.378 CREDITORS: Amounts due within ODe year 1,296 264 NET CURRENT ASSETS 61,922 TOTAL ASSETS LESS CURRENT LIABILITIES 61,922 £ 50,373 RESERVES Accumuffiated Funds Brought Forward Plus Surplus for the year 50,373 11,549 32,677 17.696 Unrestiicted Funds 61,922 £ 50J73 Transactions with trustees and related arties During the year the charity made payments lo A Masters a tn￿e¢ of £3,292 for coaching work done. Wages for gymnastic coaching a150 included payments to family members of trusiees. Ail payments of this type were at no More than norn)al commercial rates of pay. Page 3 There accounts were approved by the truste&% on: O-iL>-kryLg Signed on behalf of the tru8t¢e8: Name.. Signed on Ixhalf of the In￿CeS. Pa8e 4 2022 has been an exceptional year for the Club. We've managed to emerge from Covid bigger and stronger than ever before. The club now offers a broader and more diverse program including Gymclusive classes, tumble clinics, adult gym, mini squad classes, boys squad classes, and a Saturday club. In 2022, we invested significantly in the development of our Gymclusive area. This is mainly due to Grant funding kindly donated by Devon County Council, Activities 115 and local businesses. Although these classes are still in the process of being developed, they are contributing a small amount of income. During 2022, we relaunched our annual club champions, which was a huge success in terms of participation, enjoyment, and word of mouth. Overall, we made a profit of £700 Our Christmas party for the children was finally held in the loft! This was at a cost of £71.90. The club has invested in the following for 2022 - Brand new heating system - Clothing & leotards - Quick books – accounting software - Mobile payment system Square - New booking system Class4kids - New sign - New equipment / trampette / blocks - Gymclusive & sensory area - Competition and grade support Profit & loss for 2022 - Turnover - £105,916.54 - Monthly fees - 70% - Expenditures - £98,862.75 - As per every year the largest cost is rent (20%), electricity (3%) and wages (39%). - Net Income - £7,053.79 EST ## **Grants** - Total Grants received = £15,635.22 - Total Spent = £17,272.09 - 2022 - £9,791.40 – Sign & Heating - 2022 - £4,420.23 – Gymnova Gymclusive equipment, barriers - 2022 - £3,060.46 – Gymclusive wall & disability sign Due to the increase in the cost of living, rent, and electricity in 2023, it will be a financially challenging year for the club. Currently, we are exploring ways to expand our services and looking at our daytime and holiday offerings. Additionally, we will examine ways to reduce our costs. Efforts will also be made to identify and pursue additional sources of funding.