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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 04794043 (England and Wales) REGISTERED CHARITY NUMBER: 1099407

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2022

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SALTO GYMNASTICS CHARITABLE FOUNDATION

LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 DECEMBER 2022

TRUSTEES

Mr R Powell Mr J C Richardson (deceased 10.3.23) Mr E J Phillips Mr MA D'Arcy Ms L Hanley Mrs P Young (resigned 31.12.22) Ms L Baird Mr G Baliah

REGISTERED OFFICE 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL

REGISTERED COMPANY NUMBER

04794043 (England and Wales)

REGISTERED CHARITY NUMBER

1099407

INDEPENDENT EXAMINER

FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL

ADVISERS

Legal Advisors Machins Solicitors 28 Dunstable Road Luton LUI IDY

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

CHAIRMAN'S REPORT for the Year Ended 31 DECEMBER 2022

2022 was a year of consolidation and a full year of activities post the official end of COVID-19 restrictions. All the hybrid ways of working were put back on the shelf, as classes returned to a new normal. All the enhanced COVID-19 Secure measures introduced, such as amended drop off and collection procedures, staggered start times and cleaning of apparatus, have become new best practice and we are proud that our staff and coaches have embraced these changes. It has been fabulous to welcome back parents and visitors back into the SALTO Centre, to see events being hosted again and our competitive gymnasts picking up from where they left off in 2019 and the early successes of 2021 continue into 2022.

This is a credit to the hard work of the gymnasts but also the dedication of their coaches. We also welcomed a new Head Coach, Phil Heathcote who has brought valuable insights and refreshing ideas to the gym. Phil is integral to Salto ‘building back better’ post the extended closure due to the pandemic.

In our ongoing commitment to eliminate unnecessary costs and to simplify the Charity for administrative purposes, it was decided that it would be in its long-term best interest, to voluntarily liquidate its 100% trading subsidiary SALTO Leisure Limited, as of 31 December 2022. This was successfully accomplished.

Our overall finances, at the end of 2022 were not showing noteworthy signs of improvements and the cash position was tight and ended the year with a deficit of £171,005 compared with a surplus of £17,166 in 2021. In the year under review, we faced a new range of financial and business challenges. We were not immune to 'the cost-of-living crises with the majority of costs rising in line with inflation. To this aim, we successfully completed a complex re-financing programme which consolidated our CBILs facility, with our existing commercial mortgage. This enabled a small release of equity which enabled Salto to introduce ‘cost of living wage rises’ across all our staff. While a small gesture, we believe in investing in our people. Our prudential planning has positioned us well to meet the uncertainties we continue to face as we start 2023.

It was with great sadness that Amanda Dando, General Manager SALTO decided to leave the Club to pursue other interests. Her dedication over 13 years was exemplary and her leadership during the Covid 19 pandemic foremost focussed on health and safety measures to create a COVID-19 Safe environment at the SALTO Centre for members and staff, members, and visitors. I wish to take this opportunity to thank Amanda and her team for their dedication without which we would not have been able to continue the rebuilding process. Furthermore, many members and families have expressed warm messages of support for all that Amanda and her team have delivered especially the hosting of the first Club Championships since 2019 and the return of the Winter Spectacular. Both being opportunities for Gymnasts to showcase the skills they have developed to family and friends, and it is fair to say these events were a great success and a credit to all concerned. At Board level, we are pleased to add Nicolette Ford in 2023 following an appeal to add more parent representation on the Board. We begin 2023 with the most diverse Board in Salto's history. These appointments will ensure the charity remains sustainable and will also continue to develop its positive approach to Diversity, Equality, and Inclusion in particular. SALTO has done everything possible to mitigate the huge financial impact of[the][legacy][of][ COVID][19][virus,][the][more] recent cost of living crisis and the energy market crisis. The longer-term impacts in respect of funding, membership levels are somewhat more difficult to quantify. We will continue to support the local community and deliver an affordable, inclusive service. I am confident that SALTO will continue to ASPIRE, to INSPIRE, to DELIVER and to SUCCEED.

Mr R Powell - Chairman

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

2022 was another year of recovery. Covid was not quite over, the return to business as normal was far more protracted base.than expected. Petrol, goods, and food prices continued to rise. SALTO attempted to regain its pre covid membership This report represents SALTO Gymnastics Charitable Foundation Limited. The strength of our Board, management team, staff and importantly members have allowed us to position ourselves for growth. We feel successful that the backbone has returned, yet we remain below our pre-covid attendance levels. The trustees who are also directors (The Board) 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 31 December 2022. The Board has 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) The Board has assessed the Charity on a going concern basis. The impact of COVID-19 continued to be felt in our membership numbers, our staffing ability, the parental support did not return as quickly as we had hoped, the cost-of-living crisis began for example, the volatility of goods and of course rising interest rates. As with general returns to normal, in 2022 many people were reluctant to engage in a return to crowds, to attend events where several people were present. As we complete this report, we must note that Carl Richardson our Chief Operating Officer and Trustee died in March 2023. Carl historically had completed these submissions. We complete it to the best of our knowledge at the time of preparation. The Charity and its property is managed and administered in accordance with its Memorandum and Articles of Association, by its Board.

OBJECTIVES AND ACTIVITIES

Objectives and activities The Charity's objects are restricted specifically, in each case only for the public benefit to:

Taking reasonable care and attention is given to the physiological and mental wellbeing needs of such inhabitants, with a view to furthering these objects.

Our vision is: To Aspire; To Inspire; To Deliver; To Succeed.

SALTO is more than "Gymnastics"

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

for the Year Ended 31 DECEMBER 2022

REPORT OF THE TRUSTEES

OBJECTIVES AND ACTIVITIES

Public benefit The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2), when reviewing SALTO's aims and objectives, as well as in planning future activities. We strive to improve the health, wellbeing, and future prospects of the "inhabitants", by becoming one of the leading providers and promoters of gymnastics and other activities, in our "Area of "Benefit", from the use of the SALTO Centre by SALTO Gymnastics Club and SALTO Leisure Limited. The difference made by SALTO arises from the use of the SALTO Centre by SALTO Gymnastics Club.

SALTO's primary source of income is directly from its activities that generate member subscriptions and fees. Affordability and access to SALTO's activities and programmes is important to us and is reflected in our pricing policy. This pricing policy is designed to enable as many "inhabitants" as possible within our "Area of Benefit", to take part in activities, to attend or participate in events, by making these as affordable as possible, having due regard to the general levels of deprivation in the "Area of Benefit" and pricing of similar sporting or leisure activities available locally. The pricing policy and other careful financial management by the Trustees are designed to generate a modest surplus and be consistent with our Reserves Policy detailed below.

The strategies employed to achieve SALTO Gymnastics Charitable Foundation Limited's aims and objects are:

SALTO is aware that it must demonstrate the difference made by the achievement of our aims and objectives through the delivery of our activities, outputs, outcomes and impacts. We now need to work on 2023. Although SALTO monitors performance against Key Performance Indicators (KPIs), set within annual operating plans, these results have not been expressed in societal terms.

This is still an area for improvement in our performance but there are challenges and measurement problems associated with some of our activities. Subject to GDPR compliance, we also aim to share data with "Partner" organisations to improve the quality of our reporting.

SALTO operates in Sundon Park, one of the most deprived areas in Luton, as evidenced by ONS IMD statistics.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT Achievement and performance Charitable activities This year of review started with a great deal of hope following the long disruption caused by COVID-19 and indeed there were still a few legacy measures in place at the end of the year. We managed to invest in training and development in coaches, following the resumption of the British Gymnastics Coach Education Programme. We also managed to invest in replacement and new training apparatus and equipment using the funds raised from our first Club Championships and the fabulous return of the Winter Spectacular shows in December 2022. We saw the return to of competitive gymnastics and a return to winning ways of our Acrobatic and Women's Artistic squads. We are confident that this will continue into 2023 with a bigger schedule of events already in the diary. We have all experienced major impacts on our lives because of the impact of the war in Ukraine, Energy Crisis and resultant inflation and cost of living crisis. Every one of us worked hard in the background, to offset as much of these factors and deliver on our main charitable of objective to ensure we make our activities as affordable as possible to as many as possible.

The Club managed to secure a longer term sustainable financial base for SALTO, restructuring the commercial mortgage and other measures, such as a new energy | year contract. The charity is in a stronger position to deliver its programme of classes and activities throughout 2023. A major crowdfunding campaign resulted not only in raising an important amount towards the cost of our planned refurbishment project, but it also attracted an £8,000 contribution from Sport England and attracted a new corporate sponsor.

The refurbishment plan reflects the fact that we bought and developed the SALTO Centre in 2003/ 2004 whilst we have invested heavily in creating the state-of-the-art training facility that we enjoy today, the rest of the building requires some attention to bring it up to the same standards.

Children and Young People:

Covid and Cost of Living crisis leaves our membership at around 800. In 2023 we hope to consistently achieve 850.

SALTO'S membership is drawn from every ward in Luton and reflects Luton's superdiverse, plural, ethnic population. 95% live in Luton the remainder in nearby rural villages and towns. They comprise; 40% white: 40% BAME: 20% Other, including mixed race origin. 95% are female.

2022 was a year of consolidation and recovery. All the hybrid ways of working were put back on the shelf, as classes returned to a new normal. All the enhanced COVID-19 Secure measures introduced, such as amended drop off and collection procedures, staggered start times and cleaning of apparatus, have become new best practice and we are proud that our staff and coaches have embraced these changes. It has been fabulous to welcome back parents and visitors back into the SALTO Centre.

April 2022 Squads in our WAG department took part in County Grades, with several individuals qualifying for Club, Regional and National finals. County competitions returned with great success. The gymnasts started to regain a post covid confidence. At year end we had achieved 78 medals. Though our main goal was clear, we were to attend competitions, establish good working relationships with the parent body and support coaches. We are proud of our performances but recognise that we now can continue to build. Acro achieved 75 medals, 44 being Gold. 7 partnerships making the East team, we won a first National Medal at Youth, we had 6 Bedfordshire Champions and in East of Region and Herts County our gymnasts prospered all, with podium finishes.

This is a credit to the hard work ofthe gymnasts but also the dedication of their coaches. We are a fully inclusive club. Members are attracted by SALTO's reputation, siblings of members, attendance at events as well as our online presence. A slow and gradual resumption in response to demand and understandable nervousness on the part of parents and gymnasts to resume training. Play gym resumed and this continues to remain strong. Play Gym attendance rates are solid and growing. The forecast that Play Gym contributed over £20,000 in 2022 has come to fruition,

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

Facilities and Infrastructure: During 2022 the focus has been to ensure the SALTO Centre was as safe and ready to receive staff, gymnasts and visitors whenever permitted to do so.

Workforce

We welcomed a new Head Coach, Phil Heathcote who has brought valuable insights and refreshing ideas to the gym. Phil is integral to Salto 'building back better’ post the extended closure due to the pandemic.

It was with great sadness that Amanda Dando, General Manager SALTO decided to leave the Club to pursue other interests. Her dedication over 13 years was exemplary and her leadership during the Covid 19 pandemic foremost focussed on health and safety measures to create a COVID-19 Safe environment at the SALTO Centre for members and staff, members, and visitors. We thank Amanda and her team for their dedication without which we would not have been able to continue the rebuilding process. Furthermore, many members and families have expressed warm messages of support for all that Amanda and her team have delivered especially the hosting of the first Club Championships since 2019 and the return of the Winter Spectacular. Both being opportunities for Gymnasts to showcase the skills they have developed to family and friends, and it is fair to say these events were a great success and a credit to all concerned.

At Board level, we were pleased to welcome Nicolette Ford in 2023 following an appeal to add more parent representation on the Board.? We begin 2023 with the most diverse Board in Salto's history. These appointments will ensure the charity remains sustainable and will also continue to develop its positive approach to Diversity, Equality, and Inclusion in particular.

We will invest in management skills training courses and seminars to continue our management team's continued professional development, as opportunities arise.

Volunteers

SALTO relies on voluntary help to support its Management Team, Coaching and Administrative Staff. Volunteers assist with stewarding events and performances, fundraising. banking arrangements, stock control. SALTO does not attribute a financial equivalent to the value of our volunteers’ contribution to the Charity however it is nevertheless of greater worth than the mere saving in paid staff costs.

Community Engagement

SALTO has done everything possible to mitigate the huge financial impact of the legacy of COVID 19 virus, the more recent cost of living crisis and the energy market crisis. The longer-term impacts in respect of funding, membership levels are somewhat more difficult to quantify. We will continue to support the local community and deliver an affordable, inclusive service. SALTO will continue to ASPIRE, to INSPIRE, to DELIVER and to SUCCEED.

We made full use of social media, E-Newsletters and Website to inform members and parents of developments. SALTO's income is generated from the following sources: a) Membership subscriptions b) Trading activity c) Membership fees d) External hire e) Gift Aid f) Sponsorship g) Non-Gymnastics core activities h) Donations, grants, bursaries, crowd funding, i) Fundraising events

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

Membership Subscriptions Prior to COVID-19, generally predictable within a reasonable tolerance. Variable based upon the subscription fee rate and the number of participants/members. This represents the largest contribution to SALTO 's Primary Trading Income. This income is regular, paid monthly and the majority is via pre-authorised card payments collected via our membership system and designated payment service provider. The subscription fee rates were last changed in October 2022 to keep this rise to a minimum it was voted to only increase by around 5%.

Annual Membership

Generally predicable within a reasonable tolerance. Variable based upon the actual membership fee rate and the number of participants/members. This is an annual fee. It is collected when members start their membership and annually thereafter in October. The annual fee for October 2021/22 was not increased. GiftAid HMRC has granted a concession to SALTO to enable GiftAid claims on eligible member payments for which we hold valid gift aid declaration received in the previous financial year. Following the merger of SALTO Gymnastics Club and The SALTO Foundation Limited, the latter has been recognized for by HMRC Gift Aid purposes and HMRC have also noted the change of name to SALTO Gymnastics Charitable Foundation Limited.

Non-Gymnastics Core Activities We look to develop innovative ways to offer activities that promote health and wellbeing to members and non-members taking advantage of time when the SALTO Centre is not fully occupied by our core-activities. Normally, this not only contributes to our charitable objects but also provides a strong and reliable source of revenue. Trading Activity Trading activity is materially below pre Covid levels and likely to remain so in the immediate future. External Hire External Hire activity is remained below our Pre-Covid levels this was due to the return phases in place for competitions and specific rules regarding spectators and the mixing of clubs/gymnasts outside of a club bubble. British Gymnastics during Covid have migrated a lot of their courses to Online learning based courses reducing the Coach education course hires. We would hope to see a rise in this specific area next year,

Donations/Grants/Bursaries/Fund Raising Events/Crowdfunding/TheBigGive Appeal

This is entirely linked to the volume and success of such activities. These are generally linked to a project or planned expense and the funds raised are either Restricted Reserves or Designated Reserves. There are long lead times between applications and any funding received except for specific events. This is not predictable. Increasingly applications are being made for support for core costs. Sponsorship Sponsorship is new to SALTO and not yet a predicable or making a meaningful contribution to the income mix. Two new sponsors came forward as part of our crowdfunding campaign.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Financial review Financial review Statement of Financial Activities

The Total Cash Position at 31 December 2022 is broadly in line with the our long-term projections.

Income The second repayment of the Commercial Mortgage was made on 15 December £4,237.31, so the balance as at the year-end is £471,683.16. The next milestone will be at the end of2023.

Subscriptions December Subscriptions (being a short month due to annual closure) are still almost £27,000 a little down on the November of almost £28,000 for the first time in 2022. The first electronic collection of fees for January is around £25,100 but this will be topped up by new starter payments and other late payments.

Other Income

This continues to remain strong. Play Gym attendance rates are solid and growing. The forecast that PlayGym contributed of over £20,000 in 2022 has come to fruition. Overall non-core income will also contribute more than £68,000 in 2022 exceeding budget targets.

GIFTAID Gift Aid contributed £4,046 in 2022. Plus £528, from the Crowd funder. This is free money and no extra cost to parents.

Expenditure

Investment Policy and Objectives The combined value of Charity's restricted and/or unrestricted reserves does not currently warrant establishing a detailed investment policy. The Trustees, having regard to the liquidity requirements of operating SALTO, have kept available funds in an interest-bearing deposit account and seek to achieve the best available rate of interest, commensurate with the amount invested and ease of access required.

Headlines December 2021 Amanda Dando resigned. We saw this as a catalyst for change and a restructuring of senior management team and a revised approach to the management of coaches and staff. A first small step was message sent to all members. We aim to rebuild relationships with all members of SALTO staff. The external economic factors have seen interest rates increase again in December to base rate at 3.5%, further vindicating the decision to lock into a fixed rate when refinancing the commercial mortgage. All commentators and markets are still predicting further increases. Whilst SALTO is insulated from these increases, we can only wait and see[consequential][cost][of][ living][and][ongoing][inflation][will] what the wider impact will be upon our member families of[the] be. Our fixed rate mortgage is at 6.89% and is fixed until November of 2025.

Refurbishment Plan

In terms of the specific "restricted" fundraising to date for the project this includes:

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Excluding the Postcode Grant, the restricted funding amounts to £45,000. Postcode Society Trust - Awarded £25,000 received in July (this can be allocated to the project subject to further review) We have already used most for the original suggested purpose which was a contribution to coach wages and coach education since July).

A detailed analysis of grants received, and expenses incurred is being prepared from our new Xero Accounting System but this has not gone line yet. The target is for it to be ready to produce year end accounts.

Digital Projects We have four main digital related projects in the Pipeline.

Systems Support - We have appointed the Gallery Partnership to provide IT Support with effect from 31 January 2023. The onboarding process will commence this week.

New Website Development - We have secured an £8,000 grant from Power to Change - Powering Up. We have also have applied for a £3,000 grant to contribute to this project. We have qualified for the grant administered by University of Bedfordshire / Luton Productivity Programme. We commenced the design phase of this project in Mid December and there is a clear timeline for the development of the new site. The target date to replace the current site is 6 March 2023. New Membership Management System - We have a meeting with the Power to Change, Powering Up, Community Business supporters in Mid-January to review our digital needs and how we will apply the £9,000, in kind support grant. Powering Up that could fund the evaluation, development and implementation of a new Membership system. There is also £3,000 of in kind support for the Senior Management Team which we could apply to CPD development which could be vital as we rebuild the team.

Social Media Management - We need an overhaul of Social Media content management, integration with other communication channels. This could also be funded by Powering Up £9,000 in kind support.

2022 OPERATIONAL BUDGET, STRATEGIC PLANS

We have produced 2023 forecasts and high-level summaries. These were circulated at the December Board meeting. Detailed spreadsheets are available for anyone who wants them. Unless there are any obvious errors in assumptions, we will adopt these figures and hit the ground running | January 2023. Future analysis will affirm whether the assumptions remain robust, and adjustments can be made at the end of 1Q23. Energy Crisis As reported, we have locked in a new 12 month, combined duel fuel contract, from 1 January 2023. We will get some government support but not easy to quantify. This scheme will provide energy bill relief for non-domestic customers in Great Britain. Discounts will be applied to energy usage initially between | October 2022 and 31 March 2023. I have some reference data based upon the prevailing wholesale rates when we fixed our new agreement and this fixes the discount or support available from the Government. The assuring fact is that the cash flow savings achieved by restructuring the Mortgage will enable us to cover the increased energy bills for the winter months.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

FUNDRAISING

We have raised £73,700 in grants and corporate sponsorship during 2022. In addition we will benefit from a further £12,000 of in-kind support via the Powering Up programme as reported. This reflects the massive increase in the volume and quality of applications matching SALTO needs with the funding criteria of the grant making trusts and foundations. It is not clear as I write how much time I will have in the first 3 months of 2023 to keep up the momentum and pipeline of new applications. Despite the successes the number of declines demonstrates how competitive the Grant market is and the challenge is always to make a case that matches the priorities of the funder NOT what we want funds for. Both must align to be successful.

Approved Applications

New Applications (Significantly increased volume of applications) All submitted but no decisions were received in 2022

Declined/No Progress

-CLLD - ActiveLuton/teamBEDS&LUTON (Amount TBC) No Progress. - Holiday Activity Food (HAF) Programme. (Amount TBC) Didn't proceed.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

New Initiative -

Charitable Travel https://charitable.travel/how-we-do-good/ Every penny of profit earned by Charitable Travel, everything they do and everything they offer our customers goes to support charity fundraising and good causes.

Clean Water

Want to rent a car-park space for £250 + VAT. (Over £3,000 pa.) Details to be evaluated.

Corporate Sponsorship -

Targeted campaigns for 2023. There are 3 main targets, Estate Agencies and Car Dealerships and Insurance Companies.

Investment Policy and Objectives

The combined value of Charity's restricted and/or unrestricted reserves does not currently warrant establishing a detailed investment policy. The Trustees, having regard to the liquidity requirements of operating SALTO, have kept available funds in an interest-bearing deposit account and seek to achieve the best available rate of interest, commensurate with the amount invested and ease of access required.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Financial review Reserves policy and going concern The Charities Commission guidelines state that it expects trustees to decide, publish, implement, and monitor their charity's reserves policy (the Policy) so that they can comply with their legal duties to:

This policy document sets out:

The Board is responsible for establishing this Policy and to regularly monitor and review its effectiveness in the light of the changing funding and financial climate and other risks. Reserves are essential to ensure all spending commitments and potential liabilities can be fulfilled and assists with the mitigation of the impact of unplanned events on SALTO Gymnastics Charitable Foundation Limited (SALTO), the members, staff and volunteers. This Policy is reviewed, at least annually in line with the financial accounts review. The last review was December 2021. Our aim is to maintain our reserves to ensure our financial resilience and sustainability, including protecting ourselves against unexpected shocks to SALTO activities that are not insurable risks.

The Policy sets out new aspirational target reserves levels and the key principles by which we manage surpluses or deficits compared with the targets. Our aim is to strike the appropriate balance between ensuring a sustainable financial position and using our funds to fulfil our charitable objects.

Types of Reserve

Restricted Reserves: Restricted funds fall outside the definition of unrestricted reserves. In SALTO's case, it may during the normal course of its fund-raising activities, receive the proceeds of donations or grants, which may be received with conditions attached regarding their use. Such funds will be held in a separate designated account and such funds shall be employed in strict accordance with the conditions attached and/or the purpose stated in the application for such funds. As such, these funds are not included in the calculation of the Unrestricted Reserves considered prudent for the day-to-day operation of the club.

Designated Reserves:

SALTO may decide to accumulate reserves in anticipation of a future project or material expense. These are detailed in the table below. As such it may set aside funds from its normal income and/or general fund-raising activities with a view to utilizing such reserves at the appropriate time to facilitate the project or meet the liability of the planned expense. The Trustees may, at their discretion, re-designate the application of such funds to meet a new priority, provided such is in furtherance of its charitable objects.

Unrestricted Reserves SALTO may decide to accumulate general reserves to ensure that the SALTO may fulfil its normal day to day activities, contractual commitments and operating expenses to mitigate the risk, however small, of an adverse change to anticipated future revenues or adverse impact of an unplanned or significantly larger expense than that which was included in the budget. As such, it may set aside funds from its normal income and/or general fund-raising activities with a view to utilizing such reserves at the appropriate time to avoid the need to cease delivery of scheduled activities in furtherance of its charitable objects. Unrestricted reserves are funds that are not specifically defined as Restricted Reserves but may include Designated Reserves.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Financial review

These unrestricted reserves must be freely available to spend on any of the Charity's purposes. The starting point for calculating the amount of unrestricted funds held by a charity. However, just as in SALTO's case, some, or all, of the unrestricted funds may not be immediately available for spending. This is because spending those funds may adversely impact on the Charity's ability to deliver its aims, or they are not easily convertible to cash or illiquid. This is because spending those funds may adversely impact on the Charity's ability to deliver its aims, or they are not easily convertible to cash or illiquid. Such items should be excluded from the calculation of reserves, include:

** CONTINGENCY RESERVE CONTROL MEASURES are set out in the Rules Governing the operation and management of SALTO Gymnastics Club (the Club) Pursuant to Article 3a of the Articles Of Association adopted on 29 September 2021 (the Articles)

The Board has set targets for unrestricted reserves in this Policy, in accordance with Charity Commission guidelines (currently set out in CC-19), noting that reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The board has designated and established targets for Contingency, Financial Management and Strategic Reserves and having due regard for its Risks Register.

The Board shall always act with reasonable care and skill, using information and advice, as it deems appropriate, to set an annual budget, with a view to funding the delivery of scheduled activities and future development goals, in furtherance of its charitable objects. Such budget is set with due regard to prevailing operating income and expenditure, as well as prudent forecasting, based upon known internal and external factors. The budget also aims to create a modest surplus to contribute to an increase to the balance of unrestricted reserves towards the stated targets.

The Trustees considers the ideal medium target level of reserves is £50,000 by the end of 2022, but the short-term target for 2021 was £30,000 because activity levels will take some time to reach pre-COVID-19 levels. Although it will take some time for activities to reach pre-COVID-19 levels. This is evident from the figures reported in the Statement of Financial Activities. In the short-term, we aim to maintain unrestricted reserves of at least £20,000, as detailed in the table above.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Risk management

The principal risks faced by the Charity are;

Financial: Financial risks are two fold: - Exposure to a significant adverse change in interest rates once our fixed arrangement with Barclays expires November 2025 - Income from normal operations, such as member subscriptions and other fees for services, is insufficient to meet the liquidity needs of the Charity.

In both cases, a reserves policy has been established in SALTO Gymnastics Club to ensure that the charity will be able to meet its obligations as they fall due.

SALTO has Trustees with detailed financial experience to monitor and evaluate such risks and amend policies as necessary.

The reserves policy has been redrafted to enable the charity to be better prepared for such an event. SALTO's business interruption insurance fell short of providing the anticipated protection.

Operational:

The Charity has a strong Board of Trustees that is responsible for management of the Charity. The Charity secks to adhere to best practice as advised by the National Governing Body and Charity Commission.

Reputations:

The Charity maintains a set of policies and procedures designed to enable the delivery of activities without incurring adverse reputations consequences. The policies are reviewed on a regular basis or when new guidance is issued. In particular we have policies governing the safeguarding and welfare of children and young people, safe systems of work to protect our staff and users of the SALTO Centre and financial controls to avoid misappropriation of Charity funds.

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SALTO GYMNASTICS CHARITABLE FOUNDATION

LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 DECEMBER 2022

STRATEGIC REPORT

Future plans

SALTO has developed new medium-term strategic plan covering 2023 - 2025. The focus is now upon a controlled yet sustained effort to rebuild membership numbers as well as new and existing services. We will ensure we have the necessary financial and physical resources available to meet the demand from former and potential beneficiaries.

Our plans have 6 priority areas:

Community & Membership

Define policies that set out best practice, for the delivery of our charitable objects. To further the role that SALTO plays in its area of benefit and enhance its relationships with all stakeholders.

Education & Employment

By focussing upon the needs of club, working with British Gymnastics Coach Education, establish a framework for the investment in people, to fulfil their personal development goals whilst using these skills in the furtherance of our charitable objects.

Services & Events

Secure a programme of classes, activities and events that contribute to the furtherance of our charitable objects that are exciting, challenging, rewarding safe and fun. Ensure the SALTO Centre is equipped to the highest standards possible to aspire to be a centre of excellence to deliver same. We will devise development plans for our competitive squads to be ready to enter events as soon as permitted to do so.

Finance & Compliance

To ensure the long-term sustainability of the charity through Prudential Financial controls and policies and conforming with all legal requirements and regulations governing Charity activities. The Board refinanced, the balance of outstanding long-term debt by extending the term and in doing so, produce a positive impact on cash flow but acknowledging that the overall cost of the finance will increase. This action being in the best interest for long term financial sustainability of the charity The Board aims to increase unrestricted grant funding to reduce dependency on member subscription income.

ICT Systems

Conduct a Digital Strategy Review to ensure Management and Staff have all the tools necessary to fulfil their roles effectively. ICT is an essential resource and is integral to all aspects of the Charity activities. We must strive to ensure the resources available are fit for purpose and compliant with GDPR. The Board will initiate a Digital Strategy review in 2023.

Health and Safety Management

SALTO is committed to maintaining a robust Health & Safety Management System, that ultimately ensures that all users of the SALTO Centre remain safe.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

SALTO Gymnastics Charitable Foundation Limited is organised as a Company Limited by Guarantee (CLG) Company Registration Number 04794043. The CLG structure is widely used by charities because they not-for-profit companies - that is, they do not distribute their profits to their members but either retain them within the company or use them for some other charitable purpose.

SALTO Gymnastics Charitable Foundation Limited is registered as a UK Registered Charity Number 1099407 in 1995. SALTO Gymnastics Charitable Foundation Limited was established to facilitate the purchase of the SALTO Centre with the assistance of a commercial mortgage and to protect the Trustees and Directors running the company from personal liability for the company's debts. The liability of the Trustees and Directors is £1 (One pound sterling).

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SALTO GYMNASTICS CHARITABLE FOUNDATION
LIMITED
REPORT OF THE TRUSTEES
, for the Year Ended 31 DECEMBER 2022
’ STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustees
The Board of Trusices are responsible for directing, controlling and running and operating the Charity on a day-to-day
basis.The Board should reflect the diversity of SALTO membership and the communitics it serves in Laton and the
surrounding towns and villages. The Board intends to comply with the new Charity Commission Governance Code and
has noted the botest requirements regarding Equality, Diversity and Inclusion. These principles have been incorporated
into @ new Environmental, Social & Corporate Governance policy.
The Trunteds role requires lay people, parents and professionals who have a wide range of skills and experience to
assistbecome withthe diverse strategic needs. Any individual, not disqualified from becoming a Trustee, may be invited to
elected tos Trusteethe Bosrd, by anat existingthe carliest Trusicc,possible on behalfmecting on the existingof the Board Board.after Sua c hceptanceindividualsof suchshall be nominatedinvitation and andthe
appointment shall be confirmed at a General Mceting, following the appointment, or at an Extra General Meeting.
Theschedule of meetings is now available on the club website. The Board is required to hold a minimum of2 meetings
per annum, Meetings were held monthly (virtually vis ZOOM) through the COVID-19 crisis, but this frequency has
reducedTrustee roemeetings usually conditions permitted.have a session duringThesewhich have theincludedGeneral HybridManager mectingspresentin personcommentary and virtuallyon progressvia ZOOM.against
Plan. coveringthe day-to-day administration of the Charity activities, review policies and seek decisions, before Board
businessis considered. Trustees’ meetings agree the broad strategy and areas of activity for the Charity, including
consideration of any bursary making, capital investment projects, reserves and risk management policies and
The Board actively seeks to improve its performance and actively encourages applications to join the board by
following the process described on the website and promoted via social media and annual member survey questions.
3
New trustees ideally serve for five years after which they may put themselves forward for re-appointment. The
Constitution: providesfor a minimum of three trusices, with no maximum number. On appointment, new trustees sign 8
modcl trustee éeclarafion statement committing them to giving of their time and expertise. The induction process for
any newly appointed trusicc, includes an initial meeting with the Chair and the Trustees, followed by a scrics of short
meetings with the Chief Operating Officer, General Manager and Coach Manager. These meetings will include a brief
history of theCharity, copy Board and Management Meeting minutes, s copyof the last three years of annual reports
and sccounts. a copy of the Asncles of Association and a copy of the Charity Commission's guidance ‘Charity Trustee:
whar's involved (CC3a)’ and "Public Bencfit: running a charity’. Trustees are required to disclose all relevant interests
and register them with the Chief Operating Officer in accordance with the Charity’s policy withdraw from decisions
where a conflict of interest arises. —
The current members of the Board are listed in the Reference and Administrative Details Sheet at Page | of this report.
They may also be found on the register at Charity Commission, Companies House and SALTO's own website. In case
of need, plcase email trusices@sahogym.org in the first instance.
Repon of the trustees, incorporating a stratcgic report. approved by order of the board of trustees, as the company
GIFECIOTS, OT coecssessesssseeneseesamsstieseessessererene ANG Signed On the board's behalf by:
MrR\ 2 > 2(4 :a 26| a%| us
Page 16
EEO | EEF eS . L S E IE ESI SS RED oe _ _— - =
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

Independent examiner's report to the trustees of SALTO Gymnastics Charitable Foundation Limited (‘the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is oneofthe listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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 ofIreland (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.

Tara Aldwin ACA

FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL Date: AB. SSO EWlac / (oes

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 DECEMBER 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |General|Property|Revaluation| |fund|fund|reserve| |Notes|£|£|£| |INCOME|AND ENDOWMENTS FROM| |Grants,|Bursaries,|Fundraising|,|Donations|and| |GiftAid|2|75,190|-|-| |Charitable|activities|4| |Charitable|activities|-|Primary|purpose|trading|359,785|-|-| |Investment|income|3|110|-|-| |Trading|income|15,832|-|-| |Total|450,917|-|:| |EXPENDITURE ON| |Trading|expenditure|5|242,434|-|-| |Charitable|activities|6| |Charitable|activities|-|Primary|purpose|trading|423,177|-|-| |Total|665,611|-|-| |NET INCOME/(EXPENDITURE)|(214,694)|-|-| |Transfers between|funds|21|66,139|(66,139)|-| |Other|recognised|gains/(losses)| |Gains|on|revaluation|of fixed|assets|-|-|390,000| |Net movement|in|funds|(148,555)|(66,139)|390,000| |RECONCILIATION|OF|FUNDS| |Total|funds brought|forward|172,439|_|536,995|»|$69,070| |TOTAL FUNDS CARRIED FORWARD|23,884|470,856|959,070|

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The notes form part of these financial statements

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 DECEMBER 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |2022|2021| |Restricted|Total|Total| |funds|funds|funds| |INCOME|AND ENDOWMENTS|FROM|Notes|£|5|£:| |Grants,|Bursaries,|Fundraising|,|Donations|and| |GiftAid|2|50,500|125,690|119,129| |Charitable|activities|4| |Charitable|activities|-|Primary purpose|trading|-|359,785|270,043| |Investment|income|3|-|110|2| |Trading|income|-|15,832|155527| |Total|50,500|501,417|404,701| |EXPENDITURE|ON| |Trading|expenditure|5|-|242,434|10,526| |Charitable|activities|6| |Charitable|activities|-|Primary|purpose|trading|6,811|429,988|377,009| |Total|6,811|672,422|387,535| |NET INCOME/(EXPENDITURE)|43,689|(171,005)|17,166| |Transfers|between|funds|21|-|-|-| |Other|recognised|gains/(losses)| |Gains|on|revaluation|of fixed|assets|.|390,000|-| |Net movement in funds|43,689|218,995|17,166| |RECONCILIATION|OF|FUNDS| |Total|funds brought|forward|42,640|1,321,144|1,303,978| |TOTAL FUNDS CARRIED FORWARD|86,329|1,540,139|1,321,144|

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The notes form part of these financial statements

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

BALANCE SHEET 31 DECEMBER 2022

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |General|Property|Revaluation| |fund|fund|reserve| |Notes|£|£|£| |FIXED|ASSETS| |Tangible|assets|12|-|942,576|959,070| |Investments|13|-|-|-| |-|942,576|959,070| |CURRENT|ASSETS| |Stocks|14|3,473|-|-| |Debtors|15|4,418|-|-| |Cash|at|bank|and|in|hand|30,033|-|-| |37,924|-|-| |CREDITORS| |Amounts|falling due|within|one|year|16|(14,040)|(18,936)|-| |NET CURRENT ASSETS|23,884|(18,936)|-| |TOTAL|ASSETS|LESS CURRENT| |LIABILITIES|23,884|923,640|959,070| |CREDITORS| |Amounts|falling due|after more|than|one|year|17|-|(452,784)|-| |NET ASSETS|23,884|470,856|959,070|

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The notes form part of these financial statements Page 20

continued...

LIMITED

SALTO GYMNASTICS CHARITABLE FOUNDATION

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||||||| |---|---|---|---|---|---| |BALANCE|SHEET-|continued| |31|DECEMBER|2022| |2022|2021| |Restricted|Total|Total| |Notes|funds|funds|funds| |FIXED|ASSETS|£|£|£| |Tangible|assets|12|57,365|1,959,011|1,544,701| |Investments|13|-|-|1| |57,365|1,959,011|1,544,702| |CURRENT ASSETS| |Stocks|14|-|3,473|2,779| |Debtors|15|-|4,418|254,552| |Cash|at bank and in hand|28,964|58,997|65,013| |89,551|66,888|322,344| |CREDITORS| |Amounts|falling due within one year|16|-|(32,976)|(121,024)| |NET CURRENT ASSETS|28,964|33,912|201,320| |TOTAL|ASSETS|LESS CURRENT| |LIABILITIES|86,329|1,992,923|1,746,022| |CREDITORS| |Amounts falling due after more|than one year|17|-|(452,784)|(424,878)| |NET ASSETS|86,329|1,540,139|1,321,144| |FUNDS|21| |Unrestricted|funds|1,453,810|1,278,504| |Restricted|funds|$6,329|42.640| |TOTAL FUNDS|1,540,139|1,321,144|

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endedThe charitable31 Decembercompany2022.is entitled to exemption from audit under Section 477 ofthe Companies Act 2006 for the year The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 (b) atpreparing financial statements which give a true and fair view ofthe state ofaffairs of the charitable company as the end of each financial year and of its surplus or deficit for each financial year in accordance with the 2006requirements of Sections 394 and 395 and which otherwise comply with the requirements ofthe Companies Act relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements Page 21

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

BALANCE SHEET- continued 31 DECEMBER 2022

The financial statements were approved by the Board of Trustees and authorised for issue on oo ccocecestussisssitssisesteee and were signed on its behalf by:

Mr M A D'Arcy - Trustee

Mr R Powell - Trustee

The notes form part of these financial statements

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

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||||||||| |---|---|---|---|---|---|---|---| |CASH|FLOW STATEMENT| |for|the|Year|Ended|31|DECEMBER|2022| |Notes|2022£;|2021£| |Cash|flows|from|operating|activities| |Cash|generated|from operations|||111,633|70,409| |Interest paid|(20,504)|(15,856)| |Net cash|provided|by operating|activities|91,129|54,553| |Cash|flows|from|investing|activities| |PurchaseSale|oftangible fixed|assets|(32,400)|(39,484)| |of fixed|asset|investments|1|-| |Interest|received|110|2| |Net cash used|in|investing|activities|(32,289)|(39,482)| |Cash|flows|from|financing|activities| |New|loans|in year|470,000|-| |Loan repayments|in year|(492,564)|(52,649)| |Net cash|used|in|financing|activities|(22,564)|(52,649)| |Change|in|cash|and|cash|equivalents|in| |the reporting period|36,276|(37,578)| |Cash|and|cash|equivalents|at|the| |beginning|of the|reporting period|2|22,721|60,299| |Cash|and|cash|equivalents|at|the|end|of| |the reporting period|2|58,997|22,721|

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The notes form part of these financial statements

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 DECEMBER 2022

Ts RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022

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|||||||| |---|---|---|---|---|---|---| |OPERATING|ACTIVITIES|2022|2021| |£|£| |Net|(expenditure)/income|for|the|reporting period|(as|per the| |Statement of Financial|Activities)|(171,005)|17,166| |Adjustments|for:| |Depreciation charges|8,090|9,757| |Interest received|(110)|(2)| |Interest|paid|20,504|15,856| |(Increase)/Decrease|in|Intercompany|32,201|(4,579)| |Subsidiary|loan|written|off|215,652|-| |(Increase)/decrease|in|stocks|(694)|103| |Decrease|in|debtors|2,282|43,131| |Increase/(decrease)|in|creditors|4,713|(11,023)| |Net cash provided|by operations|111,633|70,409| |2;|ANALYSIS OF CASH AND CASH EQUIVALENTS|2022|2021| |£|£| |Cash|in hand|-|(3)| |Notice deposits|(less|than|3|months)|58,997|22,724| |Total|cash and|cash|equivalents|58,997|22,721|

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||||||||| |---|---|---|---|---|---|---|---| |3.|ANALYSIS|OF CHANGES|IN|NET|DEBT| |At|1.1.22|Cash|flow|At|31.12.22| |£|£|£| |Net|cash| |Cash|at bank|and|in hand|22,721|36,276|58,997| |22,721|36,276|58,997| |Debt| |Debts|falling|due within|||year|(69,405)|50,469|(18,936)| |Debts|falling due after|1|year|(424,878)|(27,906)|(452,784)| |(494,283)|22,563|(471,720)| |Total|(471,562)|58,839|(412,723)|

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The notes form part of these financial statements

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

  1. ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2022

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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The Salto Foundation Limited meets the definition of a public benefit entity under FRS 102.

The trustees have considered the financial health of the company along with the various government measures in place to support businesses through this pandemic and with this in mind the directors believe that the company, at the date of signing, will continue as a going concern for the foreseeable future.

The presentation currency of the financial statements is the Pound Sterling (£).

Preparation of consolidated financial statements The financial statements contain information about SALTO Gymnastics Charitable Foundation Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. Critical accounting judgements and key sources of estimation uncertainty In order to properly apply the charity’s accounting policies, as described above, the Trustees are required to make judgements and estimates in respect of carrying values of assets and liabilities which may not be apparent from other sources of information. The Trustees base these critical accounting judgements and estimations on previous historical experience and other factors which the Trustees Judge to be relevant. Judgements and estimates will invariably differ from actual results and hence such judgements and estimates are reviewed by the Trustees on an ongoing basis.

Key sources of estimation uncertainty

The key sources of estimation uncertainty which have a significant effect on the amounts recognised in the financial statements are described below:

Property valuation The fair value of the property has been determined by an external valuer and is derived from the sale of similar buildings within a local radius.

Income 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.

Charitable Activities are divided between Primary Trading Income, Other Trading Income, Fundraising and Investment 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 beenthe amount ofthe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has 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.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

  1. ACCOUNTING POLICIES- continued

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

Tangible fixed assets Included within fixed assets is a freehold property which is used to further the charity's objectives.

Freehold property is stated at market value. Any aggregate surplus or deficit arising from changes in the fair value is recognised through the statement of financial activities and included in the designated revaluation reserve. Tangible fixed assets, excluding property, are recognised initially at cost and then subsequently measured at cost less depreciation over its estimated economic useful life and any adjustment for permanent impairment.

Depreciation rate are as follows: Improvements to property - 10 years (straight line) Plant and machinery - 20% (reducing balance) Fixtures and Fittings - 25% (reducing balance) Stocks Stocks are valued 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.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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. Donated services In accordance with Charities SORP (FRS 102), the general volunteer time of our affiliates is not recognised. This is further discussed in the trustees annual report.

2: GRANTS,BURSARIES,FUNDRAISING ,DONATIONSANDGIFTAID 2022 2021
£ £
Donations
Grants
Government grants
Gift aid		 74,194
47,450
-
4.046		 13,752
17,850
78,826
8,701
125,690 119,129

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

3 INVESTMENT INCOME

3 INVESTMENT INCOME
2022 2021
£ £
Deposit account interest 110 2
4. INCOME FROMCHARITABLE ACTIVITIES
2022 2021
Activity £ £
Subscriptions
Gym Hire
Badges		 Charitable activities
-Primary
trading
Charitable activities -Primary
trading
Charitable activities -Primary
trading		 Primarypurpose
Primarypurpose
Primarypurpose		 268,570
56,634
3,411		 244,593
9.665
3,326
Playgym
Competition fees		 Charitable activities -Primary
trading
Charitable activities -Primary
trading		 Primarypurpose
Primarypurpose		 20,368
10,802		 10,440
2,019
359,785 270,043
53 TRADING EXPENDITURE
Other trading activities
2022 2021
Subsidiary
loanwrittenoff
Clothing
forsales
Coffee bar
Badges, Chalk, Certificates, and		 Trophies £
215,652
18,035
3,998
4,749		 ss
-
5,010
1,581
3,935
242.434 10,526
6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£ £ £
Charitable activities - Primary purpose
trading		 349,146 80,842 429,988

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

1. SUPPORT COSTS
Management
costs
£		 Finance
£		 Finance
costs
£		 Totals
£
Charitable activities - Primary purpose
trading		 48,737 11,601 20,504 80,842
  1. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022 2021
fp £
Depreciation -owned assets
Hire ofplant and machinery
Independent examiners' fees
Independentexaminers'fees		 -non assurance 8,090
494
6,110
1,260		 9,757
1,037
11,691
1,260
  1. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' remuneration During the year £16,512 (2021: £879) was paid to Ms L Baird (Trustee) under a PAYE contract as a Gymnastics Coach which is is included in the wages total included in the notes to the accounts.

Aside from the above, there were no further trustees’ remuneration or other benefits for the year ended 31 December 2022 or for the year ended 31 December 2021.

Trustees' expenses

There were no trustees’ expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

STAFF COSTS 2022 2021
3 £
Wages and salaries
Social security costs
Otherpension costs		 232,018
3,967
3,822		 181,973
1,878
2,473
239,807 186,324
The average monthly numberofemployees during the yearwas as follows:
2022 2021
Averageemployees 42 39

No employees received emoluments in excess of £60,000.

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |11.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES| |General|Property|Revaluation|Restricted|Total| |fund|fund|reserve|funds|funds| |INCOME|AND|£|£|£|£|£| |ENDOWMENTS|FROM| |Grants,|Bursaries,| |Fundraising|,|Donations|and| |GiftAid|106,629|-|-|12,500|119,129| |Charitable|activities| |Charitable|activities|-| |Primary purpose|trading|270,043|-|-|-|270,043| |Investment|income|2|-|~|-|2| |Trading|income|15,527|~|-|-|[5,527| |Total|392,201|-|-|12,500|404,701| |EXPENDITURE|ON| |Trading|expenditure|10,526|-|-|-|10,526| |Charitable|activities| |Charitable|activities|-| |Primary purpose|trading|360,916|-|-|16,093|377,009| |Total|371,442|-|-|16,093|387,535| |NET| |INCOME/(EXPENDITURE)|20,759|-|-|(3,593)|17,166| |Transfers|between|funds|(52,998)|52,998|-|-|-| |Net movement|in|funds|(32,239)|$2,998|-|(3,593)|17,166| |RECONCILIATION|OF| |FUNDS| |Total|funds|brought|forward|204,678|483,997|569,070|46,233|1,303,978| |TOTAL|FUNDS| |CARRIED FORWARD|172,439|536,995|569,070|42,640|1,321,144|

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SALTO GYMNASTICS CHARITABLE FOUNDATION

LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

12. TANGIBLE FIXED ASSETS

Freehold Improvements
to		 Plant and Fixtures
and
property
ba		 property
£		 machinery
£		 fittings
£		 Totals
£
COSTORVALUATION
At 1 January2022
Additions
Revaluations		 1,500,000
-
390,000		 16,638
-
-		 35,554
32,400
-		 3,930
-
-		 1,556,122
32,400
390,000
At 31 December2022 1,890,000 16,638 67,954 3,930 1,978,522
DEPRECIATION
At 1 January 2022
Charge foryear		 -
-		 3,328
1,664		 7,110
5,689		 983
737		 11,421
8,090
At 31 December2022 - 4,992 12,799 1,720 19,511
NET BOOKVALUE
At 31 December2022		 1,890,000 11,646 95,155 2,210 1,959,011
At31December2021 1,500,000 13,310 28,444 2.947 1,544,701
Cost or valuation at 31 December 2022 is represented by: Cost or valuation at 31 December 2022 is represented by: Cost or valuation at 31 December 2022 is represented by:
Freehold Improvements
to		 Plant and Fixtures
and
property
£		 property
£		 machinery
£		 fittings
£		 Totals
£
Valuation in 2018
Valuation in 2020
Valuation in 2022
Cost		 319,070
250,000
390,000
930,930		 -
-
-
16,638		 -
-
-
67,954		 -
-
-
3,930		 319,070
250,000
390,000
1,019,452
1,890,000 16,638 67,954 3,930 1,978,522

The freehold property is recorded at fair value of £1,890,000 with the original cost, which would also be the carrying net book value under the cost model, set at £930,930.

The valuation was carried out by an external valuer, Kemsley LLP on 13 September 2022.

  1. FIXED ASSET INVESTMENTS

There were no investment assets outside the UK.

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

14. STOCKS
2022 2021
£ aS
Stocks 3,473 2,779
15. DEBTORS: AMOUNTSFALLING DUEWITHIN ONEYEAR
2022 2021
£ i
Amountsowed by subsidiary - 247,852
Accrued income
Prepayments		 -
4.418		 6,700
-
4.418 254,552
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR
2022 2021
£ “8
Bank loans (seenote 18) 18,936 111,696
Trade creditors 3,010 804
Social securityand othertaxes
Other creditors		 1,813
835		 2,983
-
Accruals 8,382 5,540
32.976 121,023
17. CREDITORS: AMOUNTS FALLING DUE AFTER MORETHAN ONE YEAR
2022 2021
a £
Bankloans(seenote18) 452,784 424,878

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued

for the Year Ended 31 DECEMBER 2022

18. LOANS

2022 2021
Bank loans: Mortgage £ b
Repayable by instalments
Less than 1 year 18,936 47,183
1-5 years
More than 5 years		 90,207
362,577		 188,732
171,331
452,784 360,063
2022 2021
Bank loans: Coronavirus Business Interruption Loan Scheme £ £
Repayable by instalments
Less than year -
1-5 years - 64,815
More than 5 years - -
- 64,815
2022 2021
Bank loans: Total £ £
Repayable by instalments
Less than year 18,936
1-5 years
More than 5 years		 90,207
362,577		 253,546
171,33]
452.784 424,877
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£ £
Within one year
Between one and fiveyears		 988
1,811		 2,334
3,071
2,799 5,405

19. LEASING AGREEMENTS

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

20. SECURED DEBTS

The following secured debts are included within creditors:

Bank loans

2022 2021
£ £
452,784 360,062

The mortgage loan is secured against the property in which it relates.

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SALTO GYMNASTICS CHARITABLE FOUNDATION

LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

21. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
At 1.1.22 movement
in funds		 between
funds		 At
Sk 2eZ:
£ £ i £
Unrestricted funds
General fund 172,439 (214,694) 66,139 23,884
Designated revaluation fund 569,070 390,000 - 959,070
Property fund 536,995 - (66,139) 470,856
1,278,504 175,306 - 1,453,810
Restricted funds
Restricted 3,941 - - 3,941
Sports England - 8,000 - 8,000
BailyThomas Charitable Fund 1,000 - . 1,000
Sport England Return to PlayCommunity 29,687 (6,433) - 23,254
Asset Fund
Tesco Bags ofHelp 750 (187) . 563
Birkdale Trust forHearing Impaired 927 (59) - 868
Arnold Clarke 1,000 - - 1,000
Moto Foundation /CVC Foundation 400 (80) - 320
Santa Barabara Heights 1,000 - - 1,000
Sport England Return to PlaySmall Grants 3,935 (52) - 3,883
British Gymnastics - 5,000 - 5,000
Postcode Society Trust - 25,000 . 25,000
Wixamtree Trust - 5,000 - 5,000
The Bruce Wake Foundation - 3,000 - 3,000
PoweringUp -PowertoChange - 4,000 - 4,000
David Solomans Charitable Trust - $00 - 500
42,640 43,689 - 86,329
TOTALFUNDS 1,321,144 218,995 - 1,540,139

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 450,917 (665,611) - (214,694)
Designated revaluation fund - - 390,000 390,000
450,917 (665,611) 390,000 175,306
Restricted funds
Sports England 8,000 - - 8,000
Sport England Return to PlayCommunity - (6,433) - (6,433)
Asset Fund
Tesco Bags ofHelp - (187) - (187)
Moto Foundation /CVC Foundation - (80) - (80)
Sport England Return to Play Small Grants - (52) - (52)
British Gymnastics 5,000 - - 5,000
Postcode Society Trust 25,000 - - 25,000
Wixamtree Trust 5,000 - - 5,000
The Bruce Wake Foundation 3,000 - - 3,000
Powering Up - Power to Change 4,000 - - 4,000
David Solomans Charitable Trust 500 - . 500
50,500 (6.811) - 43.689
TOTALFUNDS 501.417 (672,422) 390.000 218,995

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SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.21 in funds funds 31.1221
£ £ £ £
Unrestricted funds
General fund 204,678 20,759 (52,998) 172,439
Designated revaluation fund 569,070 - - 569,070
Property fund 483,997 - 52,998 536,995
1,257,745 20,759 - 1,278,504
Restricted funds
Restricted 3,941 - - 3,941
London Luton AirportCommunity Fund 5,000 (5,000) - -
BailyThomas Charitable Fund - 1,000 - 1,000
Sport England Return to PlayCommunity 37,292 (7,605) - 29,687
Asset Fund
Tesco Bags of Help - 750 - 750
Birkdale Trust for Hearing Impaired . 927 . 927
Arnold Clarke - 1,000 - 1,000
Moto Foundation /CVC Foundation - 400 - 400
Santa Barabara Heights : 1,000 - 1,000
Sport England Return to Play Small Grants - 3,935 - 3,935
46,233 (3,593) - 42,640
TOTALFUNDS 1,303,978 17,166 - 1,321,144

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

  1. MOVEMENT IN FUNDS- continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 392,201 (371,442) 20,759
Restricted funds
London Luton Airport Community Fund - (5,000) (5,000)
BailyThomas Charitable Fund 1,000 - 1,000
Sport England Return to PlayCommunity - (7,605) (7,605)
Asset Fund
Tesco Bags ofHelp 1,000 (250) 750
Birkdale Trust for Hearing Impaired 1,000 (73) 927
Arnold Clarke 1,000 - 1,000
Moto Foundation /CVC Foundation 500 (100) 400
Santa Barabara Heights 1,000 - 1,000
Sport England Return to Play Small Grants 7,000 (3,065) 3,935
12,500 (16,093) (3,593)
TOTALFUNDS 404,701 (387,535) 17,166

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

21. MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined position is as follows:

At 1.1.21 Net
movement
in funds		 Transfers
between
funds		 At
31.12.22
£ £ £ £
Unrestricted funds
General fund 204,678 (193,935) 13,141 23,884
Designated revaluation fund 569,070 390,000 - 959,070
Property fund 483,997 - (13,141) 470,856
1,257,745 196,065 - 1,453,810
Restricted funds
Restricted 3,941 - - 3,94]
London Luton Airport Community Fund 5,000 (5,000) - -
Sports England - 8,000 - 8,000
BailyThomas Charitable Fund - 1,000 - 1,000
Sport England Return to PlayCommunity 37,292 (14,038) - 23,254
Asset Fund
Tesco Bags of Help - 563 - 563
Birkdale Trust for Hearing Impaired - 868 ~ 868
Amold Clarke - 1,000 = 1,000
Moto Foundation /CVC Foundation - 320 - 320
Santa Barabara Heights - 1,000 ~ 1,000
Sport England Return to Play Small Grants - 3,883 - 3,883
British Gymnastics - 5,000 - 5,000
Postcode Society Trust - 25,000 - 25,000
Wixamtree Trust . 5,000 - 5,000
The Bruce Wake Foundation - 3,000 - 3,000
Powering Up - Power to Change - 4,000 - 4,000
David Solomans Charitable Trust - 500 - 500
46,233 40,096 - 86,329
TOTALFUNDS 1,303,978 236,161 . 1,540,139

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are net movement in funds, included in the above are net movement in funds, included in the above are net movement in funds, included in the above are
as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ “8 i 3
Unrestricted funds
General fund 843,118 (1,037,053) - (193,935)
Designated revaluation fund - - 390,000 390,000
843,118 (1,037,053) 390,000 196,065
Restricted funds
London Luton Airport Community Fund - (5,000) - (5,000)
Sports England 8,000 - . 8,000
Baily Thomas Charitable 1,000 - - 1,000
Sport England Return to Play Community - (14,038) - (14,038)
Asset Fund
Tesco Bags ofHelp 1,000 (437) - 563
Birkdale Trust for Hearing Impaired 1,000 (132) - 868
Arnold Clarke 1,000 - - 1,000
Moto Foundation /CVC Foundation 500 (180) - 320
Santa Barabara Heights 1,000 - - 1,000
Sport England Return to Play Small Grants 7,000 G07) . 3,883
British Gymnastics 5,000 - - 5,000
Postcode Society Trust 25,000 . - 25,000
Wixamtree Trust 5,000 - - 5,000
The Bruce Wake Foundation 3,000 - - 3,000
Powering Up - Power to Change 4,000 - . 4,000
David Solomans Charitable Trust 500 - - 500
63,000 (22,904) - 40,096
TOTALFUNDS 906.118 (1,059,957) 390,000 236,161

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

21. MOVEMENT IN FUNDS - continued

Sport England Return to Play Community Asset Fund Air-Heat-Light Project - Ventilation and new lighting

Tesco Bags of Help

COVID-19 Emergency Funding for Designated Costs

Birkdale Trust for Hearing Impaired

Funding to improve accessibility to SALTO Centre for those with hearing impairment

Arnold Clarke

To top up the Birkdale Trust for Hearing Impaired Funding

Moto Foundadon / CVC Foundation

To fund additional SoftPlay apparatus for pre-school

Santa Barabara Heights

To top up the Birkdale Trust for Hearing Impaired Funding

Sports England Return to Play Small Grants Post COVID-19 - Designated costs linked to resuming activities

Baily Thomas Charitable Fund

Respite & holiday activity programme for 2021 for children & young people with special needs

British Gymnastics - Together Fund Refurbishment project

Postcode Society Trust Contribution towards the wages and education cost of coaches

Wixamtree Trust Refurbishment project

The Bruce Wake Foundation Refurbishment project

Sports England Refurbishment project

Powering Up - Power to Change Contribution towards new website development

David Solomons Charitable Trust Refurbishment project

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continued...

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022

  1. MOVEMENT IN FUNDS- continued

Transfers between funds

Funds transferred between the property and general fund are the transfer of cash held at bank and in hand to settle the loan paid off during the year.

Detail of funds

Funds have been designated at the discretion of the Board of Trustees as follows:

General funds

This is money that can be spent on anything which furthers the objectives of The Salto Foundation Limited.

Designated property fund

The purpose ofthis fund is to separate the cost of the property and the corresponding bank loan.

Designated revaluation fund

The purpose of this fund is to separate the revaluation of the property in previous years from the general and property fund.

Restricted funds

Detail of this fund can be found in the Report of the Trustees.

  1. RELATED PARTY DISCLOSURES

During the year, £10,450 (2021: £30,000) was paid to Discover Project Solutions Limited, a company in which Mr J C Richardson was a controlling party (deceased 10 March 2023), for the provision of consultancy and support services to, the charity, including acting as Chief Operating Officer. This expense is included within management support costs.The contract for services complies with the statutory provision of the Charities Act 2011, Section 185.

A close family member of one Trustee was employed by the charity during the year, with total remuneration paid, under PAYE contracts, totalled £17,682 in 2022 (2021: close family members of two Trustees totalled £15,624).

  1. ULTIMATE CONTROLLING PARTY

The charitable company's ultimate controlling party is the Board of Trustees.

  1. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of winding up, such an amount as may be required not exceeding £1.

Page 41

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

DETAILED STATEMENT OF FINANCIALACTIVITIES DETAILED STATEMENT OF FINANCIALACTIVITIES
for the Year Ended 31 DECEMBER 2022
2022 2021
£ £
INCOME AND ENDOWMENTS
Grants, Bursaries, Fundraising
Donations
Grants
Government grants
Gift aid		 , Donations and GiftAid 74,194
47,450
-
4,046		 13,752
17,850
78,826
8,701
125,690 119,129
Investment income
Depositaccount interest 110 2
Charitable activities
Subscriptions
Gym Hire
Badges
Playgym
Competition fees		 268,570
56,634
3,411
20,368
10,802		 244,593
9,665
3,326
10,440
2,019
359,785 270,043
Trading income
Merchandise
Coffee Bar Sales		 8,959
6,873		 6,761
291
Insurance claim proceeds . 8,475
15,832 15,527
Totalincoming resources 501,417 404,701
EXPENDITURE
Other trading activities
Written offSalto Leisure loan		 215,652 -
Clothing for sales
Coffee bar		 18,035
3,998		 5,010
1,581
Badges, Chalk, Certificates, and Trophies 4,749 3,935
242,434 10,526
Charitable activities
Wages
Social security
Pensions
Hireofplantandmachinery
Rates and water		 232,018
3,967
3,822
494
13,555		 181,973
1,878
2,473
1,037
10,940
Insurance 5,378 4,094
Carriedforward 259,234 202,395

This page does not form part of the statutory financial statements

Page 42

SALTO GYMNASTICS CHARITABLE FOUNDATION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2022

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2022|2021| |£|£| |Charitable|activities| |Brought|forward|259,234|202,395| |Light|and heat|4,167|4,789| |Telephone|970|2,006| |Postage|and|stationery|891|652| |Advertising|300|-| |Sundries|1,931|4,519| |Subscriptions|and|licences|1,120|-| |Repairs|and|maintenance|3,393|1,029| |Repairs|and|renewals|-|37]| |Cleaning|and waste|disposal|-|1,180| |Membership concessionary/ bursary|fees|-|5,000| |Management|fees|69,050|68,500| |Competition|fees|-|3,314| |Improvements|to|property|1,664|1,664| |Plant|and|machinery|5,689|7,110| |Fixtures|and|fittings|737|983| |349,146|303,512| |Support|costs| |Management|costs| |Legal|and professional|fees|8,817|4,144| |Consultancy|32,550|33,314| |Independent|examiners'|fees|- non|assurance|2.060|3,570| |Independent|examiners'|fees|1,260|1,260| |Independent|examiners’|fees|-|payroll|costs|4,050|4,782| |Independent|examiners'|fees|-|payroll|costs| |(CJRS)|-|3,059| |48,737|50,409| |Finance| |Bank|charges|11,601|T2352| |Finance|costs| |Bank|loan|interest|20,504|15,856| |Total|resources|expended|672,422|387,535| |Net (expenditure)/income|(171,005)|17.166|

----- End of picture text -----

This page does not form part of the statutory financial statements

Page 43