REGISTERED COMPANY NUMBER: 04237068 (England and Wales) REGISTERED CHARITY NUMBER: 1088122
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2022
for Swallows Of Helston Gymnastics Club
Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Swallows Of Helston Gymnastics Club
Contents of the Financial Statements for the Year Ended 30 September 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
Swallows Of Helston Gymnastics Club
Report of the Trustees for the Year Ended 30 September 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2022. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective of the charity is to provide facilities for young people to undertake gymnastic activities in order to promote their physical education and development.
In setting our aims and objectives the Trustees have given consideration to the Charity Commission's guidance on public benefit and have complied with their duty in section 17 of the Charities Act 2011. All the charitable activities are to offer public access to high quality gymnastics training in West Cornwall. This objective is delivered through various levels from recreational, amateur and advanced level classes. The aim is to allow interested individuals to develop their potential as well as promote their physical well-being. The charity also works closely with schools to promote gymnastics and physical exercise.
In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging.
Significant activities
The objectives of the charity are delivered through a comprehensive programme of gymnastic training classes covering a multitude of age groups and abilities. Classes are also geared towards gymnastics as a recreational activity as well as a competitive sport.
Volunteers
One thing is still very clear and that is without volunteers (both coaches and Trustees), the charity would have difficulty in delivering a low-cost activity for the community and schools, and our thanks goes to those providing this service. Thanks also goes to those parents that contribute regular financial support by allowing their children to participate.
How our activities deliver Public Benefit
The charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised below, provide benefit to those who train with the club and the wider community.
Gymnastic Activities
The charity operates a number of different classes in order to give access to young people of all ages and abilities. The Covid-19 pandemic required changes within the class base so that the club can offer both online and facility classes, ensuring that during periods of lockdown and training restrictions that all members can still join a class. Both platforms are flexible and can be initiated swiftly. All classes are fully inclusive with additional coaching support available to meet individual members needs.
Toddlers classes - these are held as a drop in session for those aged up to 3 years old. The sessions are not structured and allow those attending free play to engage with the sport. These sessions then feed into the pre school classes when they are 3 years old.
Pre School Training - the charity offers training sessions for children from when they start walking, up until they attend school full time. These sessions introduce them to the soft play equipment and teach them basic coordination, improve confidence and help general development in a specialised safe environment.
Recreational classes - these are held for both boys and girls of school age with a wide range of abilities and they combine fitness and fun. They are held to encourage children to attend and develop their basic gymnastic skills. There is no pressure of competition although the charity rewards the children's improvements with Proficiency badges and awards. The sessions provide a good grounding for other sporting activities. The club holds annual recreational competitions for those children to take part, giving them a focus for their training.
Competitive - the charity has three levels of competition; Novice, Intermediate and County + level. Those who have gymnastic potential are invited to participate in competitive training which requires a commitment of between 1 and 25 hours per week depending on the level at which they are competing. The charity regularly holds competitions at the gym in Helston but also encourages the gymnasts to take part in competitions throughout the UK. The difficulty that the charity faces is the cost that the families face in their children attending competitions throughout the region and nationally as travel costs can be significant. The Pandemic had seen all competitions being cancelled sadly.
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Swallows Of Helston Gymnastics Club
Report of the Trustees for the Year Ended 30 September 2022
OBJECTIVES AND ACTIVITIES
Adult and teenage classes - adult and teenage classes are included within the timetable which cater for everyone over the age of 16. Many participants in these classes have never had the opportunity to participate in gymnastics training while at school. All members are encouraged to develop at their own pace and within their levels of fitness and flexibility.
Parent training- sessions are offered termly to allow parents to attend sessions with their children to learn the basics of gymnastic coaching and to build an understanding of the sport. Some parents have chosen to become volunteers at the club based on their enjoyment of attending these sessions.
Disability classes - the club's recent Makaton Friendly status and further disability training for staff has allowed the club to offer an inclusion program to all disability members from toddler to adult age, within the current training time table. 1:2:1 sub sized sessions are also available to cater for individual disability needs.
Community Activities
In addition to the gymnastic training for their members, the charity also plays a greater role throughout the local region in order to promote physical health and fitness to members of the public.
Schools - the club has an active role in promoting the charity and its facilities to local schools and to improve relationships with them. The schools programme is designed to deliver the National Curriculum to children of primary school age. The coaches deliver a 6-week National Key Steps programme to the schools either in school or in the Swallows gym. Many rural schools choose to come to the gym where the students are able to benefit from the use of specialised equipment. The programme gives access to qualified coaches to all children including those who might otherwise not be able to benefit. Although the charity charges a fee to the schools to help cover costs, on many occasions these services are provided at a loss to the charity as the Trustees are aware of the additional benefits that it brings which are in line with its objectives.
ACHIEVEMENT AND PERFORMANCE Charitable activities Chairman's Report
Our year started with the country emerging from the grips of the Covid-19 pandemic, a welcome relief with gymnasts and coaching staff eager to see what the new norm looked like. There were changes that we maintained for example, the online booking facility.
Trustees
The club has continued to run with a small team of 3 board members; at one point we had 4 but then sadly we said goodbye to a longstanding trustee who, together with their family, had supported the club for a number of years.
The board's focus has continued to concentrate on abiding by the post-pandemic rules, to ensure we provide a safe training facility for both staff and members to return to sport, and look to the future for the club with renewed vigour.
Community
In the autumn term we welcomed back several local primary schools, enabling their children to benefit from the gymnastics discipline; this progressed throughout the remainder of the school year. Our gymnasts were back, with birthday parties and 'Bring a friend' events.
Staffing
Edy Bratu, head coach, and HPC continued to provide high quality coaching in facility to the male gymnasts and his dedication and skilful coaching methods have seen some of the boys challenge for national honours. Edy is among the most highly qualified male artistic gymnastic coaches in the South West area and his expertise is a real asset to the club.
The staff have continued to show real dedication and support to the club during another difficult year. It continues to be a steep learning curve in terms of changing training regulations, as well as an ever-changing Health and Safety policy.
The trustees recognise that the conscientious and dedicated approach to coaching shown by all staff is essential to the charity's continued success and would therefore like to express their gratitude to all involved.
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Swallows Of Helston Gymnastics Club
Report of the Trustees for the Year Ended 30 September 2022
Members
The charity has grown membership in 2022/23 with up to 250 gymnasts at any one time, spread over all ages from pre-school to young adults. Adult and toddler members have increased once they were allowed to return to training also. It is rewarding to see the hard work of both trustees and staff, in terms of working to keep members engaged and return to the gym in what has been unknown territory for all. With over 10 gymnastics clubs within the county, the trustees and staff realise that in order to keep numbers growing that they must continue to build their reputation and find a niche for themselves within the county, whilst ensuring a safe training environment.
The growing membership numbers by the end of the year is obviously very satisfying for the charity and a great reward for the hard work of coaches. We have strived to retain our belief that the charity should provide 'gymnastics for all'. Therefore, it is pleasing to note that at the end of this financial year, our choices and decisions have been the right ones and looking forward the club will be able to return to offering a disabled pathway and fully inclusive facility within the county, post Covid. We continue to be the only Makaton friendly gymnastics club in the UK.
Summary
Despite the number of new clubs within the county and available choice for parents of clubs within a 20 minute radius of Helston, the club has continued to sustain its reputation as an excellent Covid-safe facility within the county. Continued member support over the second year of the pandemic has helped us to continue to remain open. Government support has also been forthcoming both in the form of financial support via funding and grants and members have been fundraising also. There is still a real family atmosphere about the charity which is very pleasing to see and will help recruit and retain new members over the coming years.
FINANCIAL REVIEW
Principal funding sources
The principal operational funding sources for the charity are currently by way of training fee income from club members.
General Review
Total funds of the charity are £127,281 (2021: £119,449). Unrestricted funds total £125,388 (2021: £117,224) and restricted funds total £1,893 (2021: £2,225).
The net surplus for the year as set out on the Statement of Financial Activities was £7,832 (2021 net deficit: £10,812).
Reserves policy
It is the trustees' aim to retain sufficient liquid funds to affect the smooth winding down of the charity and settlement of outstanding debts and commitments. To put this into monetary terms the target is that free reserves are maintained at approximately £37,500, being at least one quarter's overheads. This level of reserves should provide enough of a cushion to administer a potential winding down of the charity. This is a minimum and ideally free reserves will accumulate to higher levels.
At 30 September 2022 the free reserves of the charity are £92,054 (2021: £76,827). This is above target and the trustees will continue to make efforts in boost incoming funds and fundraising activities.
FUTURE PLANS
2022/23 will continue to be a challenge in the current financial climate but the trustees are confident that the charity is in a better position to remain an effective business model.
In terms of numbers, the charity maintains its place within the County and is well positioned to remain a strategic centre for gymnastics. This strategic role is vital if the charity is to attract substantial funding for any development or new build. The Trustees will continue to look carefully and thoughtfully at the range of activities that the charity provides (both within the gym and in terms of outreach work); new partnerships; marketing and publicity (both within the gym and beyond); grant funding opportunities: and customer care. This last issue continues to be vital as the charity has to provide a quality service for all its young gymnasts and their parents and all its other users.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a charitable company limited by guarantee (No: 04237068) and was incorporated on 19 June 2001.
Swallows of Helston Gymnastics Club is a registered charity (No: 1088122). Its objects and powers and other constitutional matters are set out in its Memorandum and Articles of Association. It is run by a Board of Directors who act as Trustees of the Charity.
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Swallows Of Helston Gymnastics Club
Report of the Trustees for the Year Ended 30 September 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
The Memorandum and Articles of Association govern the basics on appointment of trustees and terms of office. Within the charity the following procedures are in place:
a) Trustees must be nominated using the appropriate nomination form SW-No1. The form must be signed by the proposer and prospective trustee, both must be members.
b) Trustees - can be co-opted but should be endorsed at an Executive Meeting before they take office.
c) Trustees are normally sourced from within the membership but may be invited from other institutions such as the Town & County Councillors or organisations that are members of Swallows under their membership rules.
Organisational structure
The members of the charity elect trustees of the charity for a term of three years.
The charity has a line management structure with the Chairman taking final decisions if a decision is in dispute. Below this tier are the Admin Sub-Committee (ASC) and Operations Sub-Committee (OSC). The ASC is the No. 1 sub-committee responsible for implementing the charity's policies, in particular employment policies. The OSC is the No.2 sub-committee with responsibility for day to day running including Health & Safety issues. Both committees have Terms of Reference and are required to report back to the monthly Executive Committee.
The charity employs a Head Coach and an Administrator to implement and manage the policies of the charity as determined by the Trustees.
Staff have control over the immediate day to day running of the Coaching and gymnastic element as well as cleaning, stationery and purchasing of relevant materials/training courses within a budget. All cheques are signed by two trustees and fiscal matters are monitored by the treasurer.
Emergency situations are managed on a needs basis but usually result in the Head Coach or Administrator telephoning one of the trustees.
Induction and training of new trustees
Once elected, trustees receive an induction from the Chairman or nominated trustee. They are given the "Trustees' Manual" to look through which covers all aspects of being a trustee including the "Trustee Terms of Reference" document. They are also invited to comment on the usefulness of the Trustees' manual. In addition they are given a copy of the Charity Commission booklet CC3 "The essential trustee: what you need to know and what you need to do". For the most part trustees are not given a key role until they have settled in.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The charity, in common with all organisations is open to financial and operating risks. The trustees continually review these risks and implement systems designed to mitigate those risks.
Risks have been examined and identified as:
a) Financial
The trustees are consulted and kept fully informed of the charity's financial situation at the monthly meetings, and their approval is sought and obtained for all major decisions including budgeting and expenditure.
The annual report includes a set of accounts examined by the charity's accountants Atkins Ferrie, which the Trustees are satisfied reflects the true position of the charity's finances.
The Trustees have examined the charity's reserves and they confirm they have sufficient free reserves to sustain future operations.
b) Investment
The charity has no reserves used as investments.
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Swallows Of Helston Gymnastics Club
Report of the Trustees for the Year Ended 30 September 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
c) Business/Commercial
Services are carefully costed and budgeted against annual fee income.
Commercial decisions on any outlay of the charity's resources on fundraising events are first evaluated by senior managers and reported to the trustees and outlay would only be approved on the basis of very sound propositions.
The charity holds Public Liability Insurance of up to £2,000,000.
d) Health and Safety
The charity is very conscious of its duty of care to its clients, members of staff and members of the public, and all staff are required to regularly undertake training in Health and Safety procedures and comprehensive Risk Assessments on current working practices are regularly carried out and reviewed.
e) Personnel
The charity complies with accepted good practice and standard scrutiny of staff, including the taking up of two references, DBS, police and other appropriate checks etc., particularly when staff are working with children.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04237068 (England and Wales)
Registered Charity number 1088122
Registered office
The Gunsmiths Water Ma Trout Helston Cornwall TR13 0LW
Trustees
Mr C Perry Retired Teacher (resigned 15.1.2023) Mrs S E Bangay Treasurer Mrs T M Bullen Chartered surveyor (resigned 15.5.2022) Mrs D Bawden Accountant/Office Manager (appointed 21.3.2022) Dr C A Osborne (appointed 28.03.2023)
Positions held by Trustees within the organisation:
Treasurer: Mrs S E Bangay
Independent Examiner
Thomas Tripp FCCA, ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Bankers
HSBC Bank plc 17 Boscawen Street Truro Cornwall TR1 2QZ
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Swallows Of Helston Gymnastics Club
Report of the Trustees
for the Year Ended 30 September 2022
REFERENCE AND ADMINISTRATIVE DETAILS Solicitors
Foot Anstey LLP High Water House Malpas Road Truro Cornwall TR1 1QH
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 June 2023 and signed on its behalf by:
Mrs S E Bangay - Trustee
Page 6
Independent Examiner's Report to the Trustees of Swallows Of Helston Gymnastics Club
Independent examiner's report to the trustees of Swallows Of Helston Gymnastics Club ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) 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 accounts 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 examination 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) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting 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.
Thomas Tripp FCCA, ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Date: 29 June 2023
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Swallows Of Helston Gymnastics Club
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 30 September 2022
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,093 2,934 Charitable activities Training 132,497 - Club Memberships 5,837 - Other trading activities 3 10,392 - Investment income 4 55 - Other income 5 397 - Total 150,271 2,934 EXPENDITURE ON Raising funds 3,106 - Charitable activities 6 Training 139,001 3,266 Total 142,107 3,266 NET INCOME/(EXPENDITURE) 8,164 (332) RECONCILIATION OF FUNDS Total funds brought forward 117,224 2,225 TOTAL FUNDS CARRIED FORWARD 125,388 1,893 |
2022 Total funds £ 4,027 132,497 5,837 10,392 55 397 153,205 3,106 142,267 145,373 7,832 119,449 127,281 |
2021 Total funds £ 4,016 50,078 2,772 3,292 9 47,396 107,563 1,025 117,350 118,375 (10,812) 130,261 119,449 |
|---|---|---|
The notes form part of these financial statements
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Swallows Of Helston Gymnastics Club (Registered number: 04237068)
| Balance Sheet 30 September 2022 Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 13 33,334 893 CURRENT ASSETS Stocks 14 - - Debtors 15 4,968 - Cash at bank and in hand 132,965 1,000 137,933 1,000 CREDITORS Amounts falling due within one year 16 (23,221) - NET CURRENT ASSETS 114,712 1,000 TOTAL ASSETS LESS CURRENT LIABILITIES 148,046 1,893 CREDITORS Amounts falling due after more than one year 17 (22,658) - NET ASSETS 125,388 1,893 FUNDS 19 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 34,227 - 4,968 133,965 138,933 (23,221) 115,712 149,939 (22,658) 127,281 125,388 1,893 127,281 |
2021 Total funds £ 41,622 1,230 6,684 127,709 135,623 (29,021) 106,602 148,224 (28,775) 119,449 117,224 2,225 119,449 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 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
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(b) 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 otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 and authorised for issue on 29 June 2023 and were signed on its behalf by:
Mrs S E Bangay - Trustee
The notes form part of these financial statements
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Swallows Of Helston Gymnastics Club
Notes to the Financial Statements
for the Year Ended 30 September 2022
1. STATUTORY INFORMATION
Swallows of Helston Gymnastics Club is a charitable company limited by guarantee. It was incorporated in the United Kingdom and its registered office is The Gunsmiths, Water Ma Trout, Helston, Cornwall TR13 0LW.
The presentation currency of the financial statements is the Pound Sterling (£).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The 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
Donation and legacy income consists of small donations and gift aid.
Income from charitable activities consists of training fees, membership fees and competition fees.
Income from other trading activities consists of sale of gymnastic goods, fundraising events, refreshments and hire of the gymnasium.
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Government grants
Government grants are recognised as income when there is evidence of entitlement, receipt is probable and the amount can be measured reliably. Grants received are included as unrestricted funds within 'Other income'.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity 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 consistent with the use of resources.
Raising funds
Costs of generating funds include those items of expenditure directly related to ancillary trading such as goods for resale.
Charitable activities
Charitable activity costs include those items of expenditure incurred in delivering the charity's main objective of gymnastic training and coaching. This category also includes support costs such as governance costs, premises expenses and the administrative function.
Allocation and apportionment of costs
Support costs have been allocated between management, finance, information technology and governance costs. Governance costs are those items of expenditure incurred in the course of the charity's statutory obligations and include the cost of independent examination and costs linked to the strategic management of the charity.
Support costs are wholly allocated to training activities, being the main charitable activity undertaken by the charity. These costs form part of the overall cost of training activities disclosed under Charitable activities on the face of the Statement of Financial Activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost Gym equipment - 10% on cost Gym clothing - 33% on cost Office equipment - 25% on cost
continued...
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Swallows Of Helston Gymnastics Club
for the Year Ended 30 September 2022
Notes to the Financial Statements - continued
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Assets and equipment are capitalised where there is an enduring benefit to more than one accounting period. Small value items under £100 are not capitalised.
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Going concern
The trustees have no material uncertainties about the charity's ability to continue as a going concern.
3. OTHER TRADING ACTIVITIES
| Sale of gymnastic goods Hire of gymnasium |
2022 £ 3,368 7,024 10,392 |
2021 £ 1,032 2,260 |
|---|---|---|
| 3,292 |
continued...
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Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
4. INVESTMENT INCOME
Deposit account interest
| 2022 | 2021 |
|---|---|
| £ | £ |
| 55 | 9 |
5. OTHER INCOME
Other income consists of government grant income received to cover interest on the initial period of a bank loan.
Other income in previous year also consisted of government grants received during the Covid-19 pandemic. £21,999 was received in relation to the Job Retention Scheme and an additional business grant of £25,000 was also received from the local authority. There are no unfulfilled conditions or other contingencies attached to this grant income.
6. CHARITABLE ACTIVITIES COSTS
| Training SUPPORT COSTS Management £ Training 8,203 Support costs, included in the above, are as follows: Wages Telephone Postage and stationery Bank charges Interest payable and similar charges Computer and internet costs Accountancy |
Support Direct costs (see Costs note 7) £ £ 124,429 17,838 Information Governance Finance technology costs £ £ £ 3,840 1,415 4,380 2022 Training £ 7,278 747 178 3,058 782 1,415 4,380 17,838 |
Totals £ 142,267 |
|
|---|---|---|---|
| Totals £ 17,838 |
|||
| 2021 Training £ 7,279 904 40 1,406 397 1,315 3,965 |
|||
| 15,306 |
7. SUPPORT COSTS
Support costs, included in the above, are as follows:
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets Accountancy fees - independent review |
2022 £ 8,058 4,380 |
2021 £ 8,065 3,965 |
|---|---|---|
continued...
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Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Management and administration Charitable activities |
2022 £ 73,029 91 1,176 74,296 2022 1 4 5 |
2021 £ 61,483 - 928 |
|---|---|---|
| 62,411 | ||
| 2021 1 4 |
||
| 5 |
No employees received emoluments in excess of £60,000.
Pension contributions are unrestricted and are allocated to training activities, being the main charitable activity of the charity. The amount outstanding at the balance sheet date was £229 (2021: £206).
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 641 3,375 Charitable activities Training 50,078 - Club Memberships 2,772 - Other trading activities 3,292 - Investment income 9 - Other income 47,396 - Total 104,188 3,375 EXPENDITURE ON Raising funds 1,025 - Charitable activities Training 114,388 2,962 Total 115,413 2,962 |
Total funds £ 4,016 50,078 2,772 3,292 9 47,396 |
|---|---|
| 107,563 | |
| 1,025 117,350 |
|
| 118,375 |
continued...
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Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES - | continued | ||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| £ | £ | £ | ||||
| NET INCOME/(EXPENDITURE) | (11,225) | 413 | (10,812) | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 128,448 | 1,813 | 130,261 | |||
| TOTAL FUNDS CARRIED FORWARD | 117,223 | 2,226 | 119,449 | |||
| 12. | INTANGIBLE FIXED ASSETS | |||||
| Website | ||||||
| £ | ||||||
| COST | ||||||
| At 1 October 2021 and 30 September 2022 | 650 | |||||
| AMORTISATION | ||||||
| At 1 October 2021 and 30 September 2022 | 650 | |||||
| NET BOOK VALUE | ||||||
| At 30 September 2022 | - | |||||
| At 30 September 2021 | - | |||||
| 13. | TANGIBLE FIXED ASSETS | |||||
| Improvements | Gym | Gym | Office | |||
| to property | equipment | clothing | equipment | Totals | ||
| £ | £ | £ | £ | £ | ||
| COST | ||||||
| At 1 October 2021 | 7,380 | 79,060 | 2,155 | 9,046 | 97,641 | |
| Additions | - | 663 | - | - | 663 | |
| At 30 September 2022 | 7,380 | 79,723 | 2,155 | 9,046 | 98,304 | |
| DEPRECIATION | ||||||
| At 1 October 2021 | 7,380 | 38,114 | 2,155 | 8,370 | 56,019 | |
| Charge for year | - | 7,755 | - | 303 | 8,058 | |
| At 30 September 2022 | 7,380 | 45,869 | 2,155 | 8,673 | 64,077 | |
| NET BOOK VALUE | ||||||
| At 30 September 2022 | - | 33,854 | - | 373 | 34,227 | |
| At 30 September 2021 | - | 40,946 | - | 676 | 41,622 | |
| 14. | STOCKS | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Stocks | - | 1,230 |
continued...
Page 14
Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Gift Aid debtor Prepayments 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 18) Trade creditors Other creditors Accruals and deferred income 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 18) 18. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Bank loans Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more than 5yrs by instal |
|
|---|---|
continued...
Page 15
Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
19. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | |||
| At 1.10.21 | in funds | At 30.9.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 117,224 | 8,165 | 125,389 |
| Restricted funds | |||
| JX3 Support Services - new gym | 1,000 | - | 1,000 |
| Bare Knuckle Pick Up Fund - gym equipment | 120 | (60) | 60 |
| Helstonbury - equipment grant | 372 | (62) | 310 |
| Rotary Club Helston - Computer grant | 175 | (25) | 150 |
| Sport England Return to Play | 558 | (186) | 372 |
| 2,225 | (333) | 1,892 | |
| TOTAL FUNDS | 119,449 | 7,832 | 127,281 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 150,271 | (142,106) | 8,165 |
| Restricted funds | |||
| Bare Knuckle Pick Up Fund - gym equipment | - | (60) | (60) |
| Helstonbury - equipment grant | - | (62) | (62) |
| Rotary Club Helston - Computer grant | - | (25) | (25) |
| Sport England Return to Play | - | (186) | (186) |
| The True Colours Trust | 2,934 | (2,934) | - |
| 2,934 | (3,267) | (333) | |
| TOTAL FUNDS | 153,205 | (145,373) | 7,832 |
| Comparatives for movement in funds |
| Net | |||
|---|---|---|---|
| movement | |||
| At 1.10.20 | in funds | At 30.9.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 128,448 | (11,224) | 117,224 |
| Restricted funds | |||
| JX3 Support Services - new gym | 1,000 | - | 1,000 |
| Bare Knuckle Pick Up Fund - gym equipment | 179 | (59) | 120 |
| Helstonbury - equipment grant | 434 | (62) | 372 |
| Rotary Club Helston - Computer grant | 200 | (25) | 175 |
| Sport England Return to Play | - | 558 | 558 |
| 1,813 | 412 | 2,225 | |
| TOTAL FUNDS | 130,261 | (10,812) | 119,449 |
continued...
Page 16
Swallows Of Helston Gymnastics Club
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| r Unrestricted funds General fund Restricted funds Bare Knuckle Pick Up Fund - gym equipment Helstonbury - equipment grant Rotary Club Helston - Computer grant Sport England Return to Play TOTAL FUNDS |
Incoming Resources Movement esources expended in funds £ £ £ 104,188 (115,412) (11,224) - (59) (59) - (62) (62) - (25) (25) 3,375 (2,817) 558 3,375 (2,963) 412 107,563 (118,375) (10,812) |
|---|---|
Funds Description
The Downsland Trust donation was received in 2015 for purchase of gym equipment. The JX3 donation was received in 2012 for the purchase of new gym equipment.
The Bare Knuckle Pickups Limited donation was received in 2015 for the purchase of gym equipment.
The Helstonbury grant was received during 2016 for the purchase of specific gym equipment.
The Rotary Club donations were received during 2016 and 2018 for the purchase of new computer equipment and gym equipment, respectively.
The Sport for England grant was received during 2021 for the Return to Play project following Covid-19. The fund was spent in prior year on IT equipment, cleaning and equipment and coaches fees and expenses, as required by the grant.
The related expenditure on all the above funds during the year ended 30 September 2022 is the depreciation on the capitalised costs.
During the year, a grant of £2,934 was received from the True Colours Trust to contribute towards the costs of gymnastics sessions for disabled children and young people. This fund has now been fully utilised.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2022.
21. COMPANY LIMITED BY GUARANTEE
The charity is a company limited by guarantee, and has no share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 17
Swallows Of Helston Gymnastics Club
Detailed Statement of Financial Activities
for the Year Ended 30 September 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Other trading activities Sale of gymnastic goods Hire of gymnasium Investment income Deposit account interest Charitable activities Training Memberships Competitions Other income Government grants Total incoming resources EXPENDITURE Other trading activities Opening stock Purchases Closing stock Charitable activities Wages Social security Pensions Rent and rates Insurance Light and heat Sundries Affiliation fees Competition costs Training costs Repairs & service contracts Travelling & accommodation Cleaning Depreciation of tangible fixed assets |
2022 £ - 120 3,907 4,027 3,368 7,024 10,392 55 132,497 5,834 3 138,334 397 153,205 1,230 1,876 - 3,106 65,751 91 1,176 17,403 1,001 5,864 122 276 2,302 766 7,590 21 14,008 8,058 124,429 |
2021 £ 68 573 3,375 4,016 1,032 2,260 3,292 9 50,078 2,772 - 52,850 47,396 107,563 1,238 1,017 (1,230) 1,025 54,204 - 928 18,181 879 4,197 122 256 315 346 4,347 9 10,195 8,065 102,044 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 18
Swallows Of Helston Gymnastics Club
| Support costs Management Wages Telephone Postage and stationery Finance Bank charges Bank loan interest Information technology Computer and internet costs Governance costs Accountancy Total resources expended Net income/(expenditure) |
Detailed Statement of Financial Activities for the Year Ended 30 September 2022 |
2022 £ 7,278 747 178 8,203 3,058 782 3,840 1,415 4,380 145,373 7,832 |
2021 £ 7,279 904 40 8,223 1,406 397 1,803 1,315 3,965 118,375 (10,812) |
|---|---|---|---|
This page does not form part of the statutory financial statements
Page 19