**Company registered number: 04197666 Charity registered number: 1106766** **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2022** **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 17| |**Independent examiner's report**|18| |**Statement of financial activities**|19| |**Balance sheet**|20| |**Notes to the financial statements**|21 - 35| **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022** |**Trustees**|Sue Winston, Chair| |---|---| ||Lorraine Hart (resigned 7 April 2022)| ||Duncan Smith (resigned 21 October 2021)| ||Susan Spiller| ||Hayley Budd| ||Peter Leslie Sharp| ||Farrah Mughal| ||Tara Stimpson, Treasurer| ||Larsen Mabika (appointed 17 October 2022)| ||Lewis Ridett (appointed 17 October 2022)| ||Erica de Rosa (appointed 17 October 2022)| |**Company registered**
**number**
04197666
**Charity registered**
**number**
1106766
**Registered office**
Ascension Church Centre
Baxter Road, Custom House
London
E16 3HJ
**Principal operating**
**office**
Talent Central Cheer & Dance
Unit 27a, Gallions Reach Shopping Park
3 Armada Way
London
E6 7ER
**Company secretary**
Tara Stimpson
**Chief executive officer**
Angela Green
**Independent Examiner**
MHA MacIntyre Hudson
Chartered Accountants
910 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ
**Bankers**
National Westminster Bank plc
Frobisher Road
Beckton
London
E6 5LX|| Page 1 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** The Trustees present their annual report together with the financial statements of the charity known as Ascension Eagles Cheerleaders for the year 1 September 2021 to 31 August 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ## **Our objectives and activities** Our purpose, as stated in our Memorandum and Articles of Association, is to provide facilities for the recreation and leisure time occupation of young people under the age of 25 in the interest of social welfare. We provide training in cheerleading activities and performance opportunities, to develop young peoples’ fundamental capacities, so that: ## _**They may grow to full maturity as individuals, so that they become effective and considerate members of their communities, and their conditions of life may be improved.**_ We - alongside our members and their families - are still experiencing the lasting impact of the Coronavirus pandemic which caused us to close our doors for the first time in over two decades. Our focus over the past year has been on rebuilding our programmes across our Ascension Eagles competitive teams, our schools outreach work and our community with our Talent Central recreational classes. Alongside this we have worked hard to support our members and families as they face the challenges of a post-pandemic world. Despite all of the challenges, the 2021-22 season has been very much a celebration of being back together, resuming our full service to our members and working towards growth for the future. In 2022, the Board of trustees and the Management Team agreed that it would adopt the term “ **The Group** ” (or “We” or “Us”) to describe the combined activities of Ascension Eagles Cheerleading and Talent Central, to recognise and to emphasise that our mission is delivered through a range of competition, recreational and schools’ programmes. People working on behalf of The Group include senior managers (known as “the senior team” or “the Management Team”), the Board of Trustees, paid staff, volunteers, sessional workers, agency staff and students. Page 2 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Our mission, vision and values** **----- Start of picture text -----**
Our Mission Our Vision Our Values
We strive to develop Britain's best Cheerleading is an effective way of Consistency
cheerleaders while transforming and helping children and young people to Integrity
inspiring children and young people be healthy and gain confidence, Perseverance
to reach their full potential. while helping them to make a Persistence
positive difference - both in their
community and in the world.
**----- End of picture text -----**
## **Background and history** Our charity began in 1996, as a grassroots outreach programme and part of the Ascension Church Centre, with the aim of keeping young people off the streets and out of trouble. When AEC ranked bottom at their first National Championship in 1997, they were fed-up with negative stereotypes. They decided that coming bottom at Nationals was something they would not accept; instead, they combined efforts with the aspiration of achieving a different result in future competitions. The following year, in 1998, they won their first National trophy, and, in doing so, proved to themselves that hard work can bring success. With sheer determination and teamwork, this group of individuals from disadvantaged backgrounds committed themselves to being the best that they could be. Over a quarter of a century later, our programme is firmly established as the best of British Cheerleading, consistently coming top in competitions but also making a vital contribution to young peoples’ social and physical development through our recreational classes and school programmes. In 2021-22 we experienced our first full season after the Covid-19 pandemic and, despite facing legacy effects of the pandemic, particularly on our membership levels, we were determined to ensure a great season for all of our members and their families. ## **Structure, governance and management** The company was incorporated on 10 April 2001 and became a registered charity on 15 November 2004. It took over the assets and liabilities of the unincorporated association of the same name on 1 September 2004. The company is limited by guarantee and its management is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association at each Annual General Meeting, with the day-to-day responsibility delegated to the Management Team. Page 3 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** The Group’s Board has elected to follow the principles and practices set out in the Charity Governance Code as published by the Charity Commission. ## _**Safeguarding**_ The Group recognises the importance of its responsibility to protect and safeguard the welfare of children and young people entrusted to its care (“the beneficiaries”). We are committed to regular child protection training for all staff, coaches, volunteers and Trustees, to develop their understanding of the signs of abuse and how to respond to disclosures of abuse. Anyone in leadership who has contact with children/young people will complete an Enhanced Disclosure and Barring Service (DBS) check. Any Trustee appointment is subject to a DBS check; we believe this is sensible to mitigate risks to our beneficiaries and the charity. Our safeguarding policy, referred to as the Child And Adults At Risk Protection Policy (“CAARP Policy”), was reviewed and updated on 1 May 2022 in line with changes recommended by the NSPCC. The latest version of our CAARP Policy is available for public view via a link on the Ascension Eagles website. (https://www.ascensioneagles.com/_files/ugd/87f7e5_3e6eaf93607a4fa1807ddd0fb7583573.pdf) In keeping with the requirement that all organisations working with children must have a designated individual who takes the lead on safeguarding, The Group’s Board of Trustees annually appoint a Nominated Safeguarding Lead and a Deputy Safeguarding Lead to ensure the implementation of The Group’s CAARP Policy. In addition, the Board also appoints a Trustee Safeguarding Lead who reports to the Board at each Board meeting on The Group’s safeguarding practice, including raising any concerns of which the Board needs to be aware and any incidents which have taken place (in accordance with any confidentiality/ reporting restrictions which may apply). ## _**Trustee matters**_ ## **Board changes in 2021-22** We appointed three new Trustees in 2022: Erica De Rosa, Larsen Mabika, and Lewis Ridett. Together they bring greater diversity to the board, together with experience in sports fundraising, product development, equality and inclusion, and youth sport. Duncan Smith resigned as a trustee of AEC on 21 October 2021. During his four years as a trustee, Duncan was a great advocate for our work, giving his time generously and using his network to benefit not only our charity, but others in his native South Africa. Lorraine Hart resigned as a trustee on 7 April 2022. Lorraine was a passionate supporter of The Group’s mission; we benefited greatly from Lorraine’s excellent third sector experience and she was instrumental in developing our Theory of Change. The Board is grateful to both Duncan and Lorraine for their significant contributions as AEC Trustees. ## **Our approach to trustee appointments** We have a thorough and thoughtful approach to the selection and appointment of trustees. We advertise trustee vacancies on sites such as Reach Volunteering and Getting on Board; we participate in the BoardMatch events run by the East London Business Alliance (ELBA), and we share vacancies on social media, such as LinkedIn. For roles requiring technical skills we also approach membership organisations for specialist roles (e.g. ICAEW for financial skills and IPD for people skills). Mindful of the benefits of increased Board diversity, the Board aims to place value on candidates’ passion for our mission - not simply on their skills or the extent of their professional experience. In the recruitment we undertook in early 2022, we achieved this aim; we appointed three new trustees who bring to our Board a greater diversity of age and ethnicity, as well as experience of youth sport (as participants and coaches), fundraising experience and experience of living on a low disposable income - the key areas identified in the Board skills audit that we conducted prior to our recruitment programme. Page 4 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Our recruitment process** All Trustee applicants are invited to complete an Expression of Interest form and submissions are shared with the Board. Suitable candidates are informally interviewed by at least two existing Trustees, then invited to attend one of The Group’s events or to visit our gym to see what we do ‘at first hand’. We aim for a candidate to have met at least 75% of the Trustees by this stage of the process. If the candidate is considered a potential appointee, they are invited to attend a Board meeting as an observer. If the candidate subsequently confirms that they still wish to proceed, the Board agrees in principle whether they wish to appoint the candidate. If they do, the potential new Trustee receives an induction pack (in line with the Charity Commission’s recommendations), is subject to an enhanced DBS check and is asked to sign a declaration to confirm that they have not been disqualified from acting as a trustee and to declare any conflicts of interest. Assuming no issues arise from the DBS check or declarations, the Trustee’s appointment is formally voted on by the Board. ## _**Board development**_ ## **Board effectiveness review** In late 2021 the Board decided to undertake a Board effectiveness review to self-assess its effectiveness on what the Board does well and areas for improvement. This review was facilitated by one of the Trustees using a framework employed by other boards. Each Trustee was asked to respond to a detailed questionnaire covering: the functioning of the Board, Trustee training, composition of the Board, culture, and the role of the Chair. The results were anonymized and a summary of the results was shared with all members of the Board. At a separate debrief session held in Q1 2022, the Board agreed key actions to address areas highlighted by the review. ## **Board skills audit** In January 2022 we conducted a Board Skills Audit to identify any skills gaps or diversity factors we should address in our future trustee recruitment campaigns. We adapted a template from the Trustee Recruitment Cycle and to include aspects specific to The Group’s requirements. Each trustee self-assessed 65 aspects of their own skills, knowledge and experience, which were under headings such as Governance and Leadership, People, Finance, Operations, Digital, Marketing and Fundraising. The Board accepted that some of the skills gaps identified in this exercise could be ‘bought in’ if necessary (e.g. legal and marketing). We therefore focussed on addressing skills gaps in fundraising and HR, and lived-experience of youth sport and living on a low disposable income and we highlighted these areas in the person specification when we ran our trustee recruitment campaign. The key outcomes from the Board effectiveness review and the skills audit were: - The Board recognised its strengths in terms of culture and positive, open, collaborative working relationships. In addition, these exercises confirmed that the Board adds value in terms of guiding The Group’s strategy and objectives, and the Chair provides a positive atmosphere for this work. - In term of addressing areas for improvement, the Board has taken the following actions: - Each trustee met individually with the Programme Director, Angela Green, to ensure they were fully up to date on The Group’s operations and challenges, and to discuss how each Trustee can best contribute to the organisation - Actions arising from Board meetings have been streamlined to ensure the Board focuses on those which are most valuable in terms of delivering The Group’s mission - The recruitment of three new trustees, who bring additional skills and address some gaps in terms of diversity of age and experiences Page 5 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** - The Board has undertaken a review of the committee structures and their terms of reference to ensure it is best able to support The Group. ## _**Review of The Group’s policies and practices**_ We undertook a review of all of The Group’s policies in May 2022. This was a significant project which included assessing whether we had the right policies in place and whether additional policies were required, ensuring existing policies were up to date, reformatting all of the policy documentation to ensure a consistent approach, agreeing a new annual review process and applying a categorisation to all policies (eg internal or public). Each policy now has an allocated ‘lead trustee’ who is responsible for leading an annual review of the policy. As part of this process we also reviewed the Members’ Code of Conduct (for athletes and their families) and the Staff Handbook. The East London Business Alliance (ELBA) facilitated a human resources director in the financial services sector, who generously gave The Group her time and expertise to help with our Staff Handbook review. A review of our approach to performance management and our pay review process were included as part of this project. ## **The Director’s Report** ## _**Angela Green, Programme Director – Ascension Eagles, writes:**_ We have been deeply rooted in the community we serve during our 27 years of consistent service. Part of the success of our programme has always relied very much on the face-to-face connection we are able to have with our athletes and their families; from sharing moments of joy, to being the shoulder to lean on when times get tough and everything in between. All these things we took for granted and they were hugely missed during the pandemic. While I am incredibly proud of the hard work and dedication of our staff team to our athletes during this unprecedented time, it just wasn’t quite the same. Page 6 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** This past year, coming back post-Covid-19, has been both rewarding and challenging. While it has been incredible to see our athletes back to doing what they love without restrictions and to have those personal connections, we have had to rely on our resilience in response to the ongoing impact of the pandemic and the increased support our members, families and staff team have needed. Across this year I have been privileged to work alongside such a great team of people who have given their all for our athletes regardless of their own personal circumstances. Overall this has been a year of celebration, with several highlights: - Delivering a “World of Work” workshop for our members, in partnership with ‘15 Billion EBP’, a local charity dedicated to promoting mobility and raising aspirations among children and young people, whom we also work with to deliver work experience placements. During the session 60 school children from schools in the Borough of Newham visited us at Talent Central for some ‘real life’ experience of different professions within sport in line with the ‘World of Work’ area of the national curriculum. - This year saw the introduction of our Champions In Training (CIT) programme, designed to offer a lower-commitment alternative to our full competitive cheerleading programme. Given the current economic climate it creates an additional pathway, making cheerleading accessible to more children and young people. Despite starting small, the team progressed well over the season with 10 athletes going through to competition under the team name ‘Ascension Eagles Harmony’ where they were graded as _“Excellent”_ by judges. We are very much looking forward to seeing this as an area of growth over the coming season. - This past season has been very much a rebuilding year with our membership numbers impacted by the pandemic over the past two years. It was wonderful to see numbers building back up towards pre-pandemic levels and the retention of just under 100 athletes for AEC’s competitive season, with four out of six teams achieving National Champion status - and two of those teams remaining unbeaten for the whole season. While we are proud to have proven that Ascension Eagles continue to be a force to be reckoned with on the competition floor, in spite of all challenges, we were equally proud that we also provided a safe place for all of our members, along with continued support, as they navigate a new, post-pandemic ‘normal’. ## _**Junior Leadership Team (JLT)**_ The Ascension Eagles’ Junior Leadership Team continues to go from strength-to-strength. This season, as part of our post-pandemic rebuild, the team comprised six AEC competitive team junior coaches, five junior coaches assisting our recreational gymnastic classes, and three SEND (Special Educational Needs and Disability) support coaches. In the learning sessions and evaluations for the JLT members, our focus has been on building their confidence as coaches, including effective planning, and session-leading skills, particularly for the younger athletes. Junior coach Shante, who supports our Youth 1 Team Symphony, said: “ _Understanding that athletes will respond to different behaviour management strategies has really helped me think more about how I can get the best from them in a way that makes them feel valued and appreciated, while still maintaining clear boundaries of expectation_ .” Page 7 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** In October 2021 we sent our JLT members, with their mentors, to a cheerleading industry coaching conference. This gave them the opportunity to join coaches from across the UK for a weekend of learning from industry professionals from around the world. Many of our coaches are approaching 16-years old and are now eligible to sit the qualifications and courses for which they have been preparing since the inception of our JLT programme. All our JLT members now have first aid and safeguarding certification and, additionally, those who have turned 16 have achieved recognised coaching qualifications provided by Building from the Ground Up (BGU) - the UK’s leading cheerleading educator. Of course, our mission is about more than just creating successful, happy athletes - it’s also about helping our young people to be productive members of their community. To this end, we partnered with local community association Bonny Downs to give our young leaders valuable volunteering experience. Bonny Downs are dedicated to supporting the needs of Newham’s older and more vulnerable residents. Our JLT members led an Elders project and a Christmas Hamper making event. For the Elders project, they helped prepare the venue and the catering, and took part in the quiz during the day. This was a great opportunity for our young leaders to have a chance to give back to the local community and to experience leading something which was completely new to them and outside of their typical ‘comfort zone’. JLT member Lexy said of her time with the project members; “ _I’m really glad I came. It was nice to meet them and to spend time talking to them. I especially enjoyed the quiz!_ ” We are pleased with the progress the JLT programme is making, notwithstanding the unavoidable impacts of Covid-19, and look forward to seeing our programme continue to evolve next season. Page 8 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## _**A parent’s view**_ ## **My daughter’s transformation to a confident, bubbly girl** “From a very young age my daughter has always shown an interest in gymnastics; she was always doing the splits, handstands, cartwheels etc. In 2017, aged five, she joined a Talent Central recreational class. I remember telling her the fantastic news, she was so excited and couldn’t wait to start. She thoroughly enjoyed gymnastics and loved going there every week. She learnt a great deal and made lots of friends. As much as she loved gymnastics, in 2021 we decided to transition into Ascension Eagles; so she auditioned for a team and was so happy to be placed on the youth team, Symphony. They have had a fantastic year, they won all four competitions they entered along with two Grand Champion titles. But more importantly than that, I have seen such a transformation in my daughter; from such a shy little girl to now, a confident bubbly girl - and that is all down to her time in Talent Central and Ascension Eagles. What is lovely is that Rob has coached her from the beginning of her journey in Talent Central and he still does now in her tumble classes for cheerleading. The coaches really go ‘above and beyond’ for each child in the gym, and my daughter adores her coaches, especially Coach Mel who coaches her for Symphony. We are so glad that we made the decision to join cheerleading and can’t wait to see what is in store for our daughter’s second season.” Page 9 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Ascension Eagles in 2021-22** ## _**Competition results**_ Our squads train year-round, and compete against regional and national teams in their respective age groups. |**Prodigy Mini Level 1 Prep**
**(aged 5-8)**|**Symphony Youth Level 1**
**(aged 9-11)**|**Prophecy Junior Level 1**
**(aged 10-14)**|**Royalty Senior Level 1**
**(aged 10+)**| |---|---|---|---| |Legacy Regionals - 1st
Future Cheer Regionals -
2nd
Legacy Nationals - 1st
Future Cheer Nationals - 3rd|Legacy Regionals - 1st
Future Cheer Regionals - 1st
& Grand Champions
Legacy Nationals - 1st
& Grand Champions
Future Cheer Nationals - 1st|Legacy Regionals - 3rd
Future Cheer Regionals - 1st
Legacy Nationals - 2nd
Future Cheer Nationals - 2nd|Legacy Regionals - 4sh
Future Cheer Regionals - 2nd
Legacy Nationals - 3rd
Future Cheer Nationals -
10th| |**Majesty Senior Level 2**
**(aged 11+)**|**Trinity Senior Coed Level 3**
**(aged 11+)**|**Harmony Youth Novice**
**(aged 6-11)**|**Serenity (Special**
**Educational Needs Team)**| |---|---|---|---| |Legacy Regionals - 1st&
Outstanding Technique
Award
Future Cheer Regionals - 1st
Legacy Nationals - 1st
Future Cheer Nationals - 1st|Legacy Regionals - 2nd
Future Cheer Regionals - 1st
Legacy Nationals - 1st
Future Cheer Nationals - 1st|Future Cheer Regionals -
Excellent Award|Performances at:
Legacy Regionals
Future Cheer Regionals| Page 10 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Talent Central in 2021-22** _**Talent Central is London’s first “cheer gym”, based on the well-respected principles, values and training ethos of Ascension Eagles. The centre is used by many athletes, from beginners all the way through to other competitive cheer programmes. We deliver our community outreach work through the Talent Central brand.**_ ## _**Our schools’ outreach programme**_ Our school-based sessions are important as they allow us to extend the positive benefits of cheerleading beyond our gym facility. They enable us to take the experience of cheerleading into the wider community. We are still working to bring participation in our schools outreach programme up to the same levels as they were pre-pandemic. However, we made excellent progress in this objective in 2021-22. At the start of the season four schools were able to commit to our programme and this meant that we were able to run our first showcase event since 2019. Although the event was on a much smaller scale than our usual Schools Showcase events, the participants’ passion and enthusiasm to show what they had learnt from their Talent Central cheerleading coaches was as powerful as ever. It was an important step towards regaining some of the opportunities and freedom that these children had lost as a result of the Covid-19 pandemic. These showcase events have always created an important opportunity for young people from across our local communities to come together; crucially, these events allow them to form connections with other young people from different schools, cultures and backgrounds all of whom share a common goal - cheerleading. By the end of the school year we had increased our schools’ outreach programme to 11 classes a week; this meant that we were once again able to deliver our full-scale, end-of-term showcases in March and July at the ExCeL Centre London. Each participant received an individual medal and certificate; each school received a trophy and either a bronze, silver or gold award level certificate. In total, 492 children attended our three showcase events. We delivered cheerleading sessions for the following schools during the 2021-22 season: Britannia Village (two clubs), Hallsville, Lathom Road (two clubs), Manor Road, New City, Rosetta (two clubs) and St Angela’s. We are grateful to all of our school partners for the opportunity to bring the joy of cheerleading to so many young people and we look forward to further rebuilding our outreach programme over the coming seasons. _**“Cheerleading has been a great success at Manor Road Primary, the kids have found new confidence and self-belief and that’s all through cheerleading. A number of girls who have joined cheerleading have never been to one of our sports clubs before and now we have boys coming to show it’s for everyone. We can’t thank cheerleading enough.”**_ _Charles Murphy – Manor Road Primary School_ Page 11 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## _**Our recreational classes**_ Despite our expectations that we would face a slow rebuild of our recreational programme following the Covid-19 pandemic, the Talent Central recreational classes continued to go from strength-to-strength in 2021-22. For example: - class sizes steadily increased over the season - we found that we were able to make the content of the classes more challenging because the participants were making such good progress - feedback from our young people confirmed how much they enjoy attending the sessions. Our aim is to provide fun, accessible and affordable tumbling and gymnastics for young people who want to develop their skills and without the significant levels of time and the long-term commitment that participating in our competition programme requires. Through our recreational classes, we see that several of our young athletes are starting to show some flair for gymnastics. Many participants are now confidently able to perform intermediate-level skills which has been a fantastic boost for their own self-confidence, but has also inspired and incentivised a greater determination among the other participants. This season has been primarily about introducing session frameworks and gymnastic elements which will support all of our athletes’ development. Next year our focus will be on balancing the ability ranges of new-joiners and less-able athletes with the abilities of the more experienced athletes, so that we can create learning environments which are suitable - and enjoyable - for all participants. _**“I love that my son is learning new skills. He is meeting new people and learning to work with others to achieve his goals in gymnastics. He is so happy he can now do a bridge.”** Parent feedback_ _**“My daughter had tried gymnastics before but refused to stay for the session - then we found you. She loves being in the gym and working with her coaches. She has found her motivation and I can’t ever imagine her doing anything else .”** Parent feedback_ _**”I like doing gymnastics at Talent Central because I get to practice my skills and I make lots of friends and the teachers are nice here.”** Athlete feedback_ _**“I really like doing gymnastics because it’s fun and I learn new things. I’m happy I get to move to the next class soon, I will miss my coach but I will learn new things”** Athlete feedback_ Page 12 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Chair’s review** We began our 26th season with a slight sense of apprehension; we anticipated experiencing some legacy effects from the Covid-19 pandemic, which had so dramatically impacted our local communities and we anticipated that our funding streams would come under pressure if the risk of a post-pandemic economic recession materialised. In the midst of all of the uncertainty, one thing was clear; the management team and coaches remained compassionate, focused and resolutely determined to ensure that when our young athletes were ready to return to the gym and to our schools outreach programme, we would make their experience as positive and rewarding as ever. As the UK’s pandemic measures were lifted and normality gradually returned, so did our members. While the 2021-22 membership levels didn’t quite return to pre-pandemic levels, there are strong indicators that they will. Our management team and the coaches did a superb job of rebuilding the competition programme, regenerating the schools outreach programme and raising funding. While the pace of The Group’s recovery from the pandemic was encouraging in 2021-22, we are not complacent. We know that we will face challenges in the coming seasons as a result of factors beyond our control, such as the predicted UK-wide economic recession. But, our team has a strong track-record of facing up to such challenges. We are very hopeful that in the 2022-23 season we will be able to fully rebuild our teams, rejuvenate our schools programme and re-ignite the aspirations and ambitions of our young athletes. ## _**Our impact in 2021-22**_ Our impact measurement work helps us to demonstrate our effectiveness and the extent to which we are delivering our mission. It allows us to benchmark how our athletes are feeling so that we can offer them the support and pastoral care they need, and it helps us to show our funders the difference that their investment is making - but it also highlights areas in which we could improve our services and how we deliver them. We take a multi-tiered approach to measurement; - **Athlete questionnaire** : We surveyed our athletes at the start, mid-point and end of the season, using an online questionnaire. The core question-set is centred on measuring our impact on athletes’ leadership and resilience skills and the respondent’s physical fitness. - **Observation and assessments by coaches:** These are completed for each of Ascension Eagles’ athletes, as well as for the JLT coaches, and for the members of our Talent Central tumble classes. The coach assessments focus on physical fitness, as well as technical cheerleading skills. Coaches also report on participants’ time management, organisational and leadership skills. Page 13 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** - **Parent feedback** : Historically we have also surveyed parents, with the same question-set as for athletes; however we intend to change our approach in 2022-23 to more of a “focus group” style assessment, so that we can gather more qualitative data from parents, to deepen our understanding of our impact. Page 14 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## _**Strategic priorities for 2022-23**_ In last year’s report, we said that It will take us more than one season to get The Group back to its pre-pandemic position. There is no doubt that the increasingly challenging economic environment and the ‘cost of living crisis’ in the UK will create further uncertainty for many people. We anticipate these external factors could impact our operations in 2022-23 and beyond, just as it will affect many UK-based organisations. Our families face increasing economic pressures from the cost of living crisis - particularly since many of them live in an area facing significant deprivation. We will make sure our services remain as accessible and affordable as possible, so that our athletes can continue to do the sport they love. To do this, we will need to find new funding to allow us to subsidise membership fees for those on low disposable incomes. We will also continue to look at how we can make our programmes more affordable and attractive to new members by offering new activity programmes which don’t require the same commitment or cost as our competitive programme. We want to rejuvenate our successful schools’ programme, because it plays such an important role in supporting young peoples’ physical and mental health, which has become especially important in the wake of the Covid-19 pandemic. We are aware of the phased introduction of the Charities Act 2022 over the next 18 months. The Board will assess how the new requirements of the Act and the additional recommended non-legislative changes will apply to The Group and what changes we may - or may not - need to make to ensure The Group remains compliant. In summary, the strategic priorities agreed by the Board and management team for 2021-22 remain unchanged for 2022-23: ## **1. Make a transformational difference** - We will focus on continuing to rebuild and then sustaining our membership numbers - We want to ensure our programmes remain accessible and meet the needs of our local young people; in the increasingly difficult UK economic environment, to ensure children do not lose access to the benefits of our programmes we will need to secure funding for our programme costs so that we can offer subsidised places to families impacted by the ‘cost of living crisis’. ## **2. Grow Talent Central** - We aim to grow the income generated by our tumble/recreational classes and hiring out Talent Central - We are focused on restoring participation in our schools’ programme to, at least, its pre-pandemic levels. ## **3. Sustainability** - We are mindful of an ever increasing focus on sustainability (for example by grant-making trusts) and the need for charities to set out their own position and policies on environmental, societal and economic impacts. We will look at creating an environmental policy in 2022-23. - In July 2021 we signed a three-year lease for our current premises at Gallions Reach Shopping Centre; however the lease can be broken by either party, at any time, with three-months’ notice. Any change in The Group’s current arrangements will incur additional costs (i.e. both in terms of set-up and ongoing operational costs). The Board has therefore determined that The Group’s reserves should be maintained to contribute to those, as yet unknown, costs, which could be significant. We will therefore continue to explore alternative venues and locations which could provide a temporary or permanent home for The Group. ## _**Outlook for 2022-23 and beyond**_ As the UK economy faces challenging times, we anticipate that some families in our area will find it financially difficult to continue to participate in our programmes. This impact may continue for more than one season. However, the Board remains confident in the long-term outlook for The Group. The imperatives of young people wishing to participate in Page 15 ## **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** team sport, together with society’s growing need to manage the risks of childhood obesity and a focus on the importance of youth mental wellbeing, remain as compelling as ever. Our offering has an even more relevant role in a post-pandemic world, helping young people to recover and maintain their mental and physical fitness, and their self-confidence and resilience, after two years of upheaval and isolation. The long-term effects of the pandemic are, only now, becoming fully apparent; our programmes offer a valuable opportunity to support families facing longer-term impacts on their children’s mental well-being, health and social skills. (https://www.gov.uk/government/publications/covid-19-mental-health-and-wellbeing-surveillance-report/7-children-and-young-peo ple#:~:text=of%20this%20gap.-,Disadvantaged,-Children%20and%20Young) In the short to medium term we are mindful of the increasing economic pressures on our families – such as rising fuel prices, increasing inflation and parental fears about employment prospects. We will focus on ensuring our services remain as accessible and affordable as possible to help our families weather these potential pressures, so that our athletes can continue to do the sport they love. We will continue to look for operational efficiencies and ways to reduce our costs. We will also look for ways to generate more revenue by diversifying our income streams to mitigate any impact of reduced external funding. ## **Funding and support** We are immensely grateful to our supporters for their financial donations. Without their continued support we would not be able to make such a difference to so many young lives. In 2022-23 we were fortunate to receive support from: ## _**The Tuixen Foundation; Gallions Reach Shopping Park; The Jack Petchey Foundation; The Royal Docks Trust (London); abrdn; Newham Council; the East London Business Alliance and Jacqueline Bell-Gam.**_ In addition to funding and gift-in-kind support we receive from the above organisations, we are also grateful for the support and commitment of our trustees, our members and their families, who volunteer so many hours annually to help ensure that The Group delivers its mission so effectively. ## **Arrangements for setting pay and remuneration of Key Management Personnel** Key Management Personnel comprise the Trustees and the management team. Trustees are not remunerated in their capacity as a Trustee. The remuneration of the management team is determined by the Trustees’ annually in a Performance Management discussion. ## **Public benefit** The Trustees have complied with their duty in section 17 of the Charities Act 2011 and have paid due regard to public benefit when preparing this report. There are no unreasonable restrictions, which would prevent young people in London benefiting from The Group’s services and support offered. The benefit provided to the public is consistent with the aims of the charity. All activities have been undertaken for the furtherance of public benefit and for the furtherance of The Group’s aims and objectives as per our Memorandum and Articles of Association. Further detail and public impact of our actions in 2021-22 are included elsewhere in this report. ## **Financial review** The reserves as at the beginning of the year were £580,382. We recorded a decrease in the year in unrestricted funds from £524,163 to £489,405. Restricted Funds were unchanged at £56,219. Page 16 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Reserves policy** The Board believes that the minimum level of the unrestricted general fund should be the equivalent of six months' usual salaries and other operating costs. This currently equates to approximately £129,000. The general fund at year end was £129,721. Any significant excess operating surplus at each year end is transferred to the Gym Development Project designated fund, set up to find a permanent home and gym facility for The Group. Total unrestricted reserves including designated funds and investment revaluation reserve at year end were £489,405. ## **Preparation of this report** This report has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006. This report was approved and authorised for issue by the Trustees on 16 January 2023 and signed on its behalf by: _**Sue Winston Chair of Board of Trustees, Ascension Eagles Cheerleaders**_ **Date: 18 January 2023** Page 17 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022** ## **Independent examiner's report to the Trustees of Ascension Eagles Cheerleaders ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022. ## **Responsibilities and basis of report** As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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 in any material respect: 1. accounting records were not kept in respect of the Charity 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 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. Signed: Dated: 20 January 2023 Cara Miller ACCA 910 The Crescent, Colchester Business Park Colchester, Essex CO4 9YQ Page 18 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
5
Investments
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**
16|**Unrestricted**
**funds**
**2022**
**£**
**44,728**
**148,153**
**190**
**193,071**
**219,986**
**219,986**
**(7,843)**
**(34,758)**
**524,163**
**(34,758)**
**489,405**|**Restricted**
**funds**
**2022**
**£**
**38,333**
**-**
**-**
**38,333**
**38,333**
**38,333**
**-**
**-**
**56,219**
**-**
**56,219**|**Total**
**funds**
**2022**
**£**
**83,061**
**148,153**
**190**
**231,404**
**258,319**
**258,319**
**(7,843)**
**(34,758)**
**580,382**
**(34,758)**
**545,624**|_Total_
_funds_
_2021_
_£_
_91,156_
_73,267_
_11_| |---|---|---|---|---| |||||_164,434_| |||||_192,948_| |||||_192,948_| |||||_74,427_| |||||_45,913_| |||||_534,469_
_45,913_| |||||_580,382_| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 21 to 35 form part of these financial statements. All income and expenditure relate to continuing activities. Page 19 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity) REGISTERED NUMBER: 04197666** ## **BALANCE SHEET AS AT 31 AUGUST 2022** |**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Stocks
12
Debtors
13
Investments
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
16
Unrestricted funds
16
**Total funds**|**2,431**
**10,599**
**448,305**
**106,267**
**567,602**
**(22,359)**|**2022**
**£**
**381**
**545,624**
**545,624**
**56,219**
**489,405**
**545,624**|_-_
_12,356_
_426,148_
_163,735_
_602,239_
_(23,003)_|_2021_
_£_
_1,146_
_580,382_| |---|---|---|---|---| |||||| |||||_580,382_| |||||_56,219_
_524,163_| |||||| |||||_580,382_| The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ ................................................ **Sue Winston, Chair Tara Stimpson, Treasurer** Date: **18 January 2023** The notes on pages 21 to 35 form part of these financial statements. Page 20 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **1. General information** Ascension Eagles Cheerleaders is a company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1106766) and Registrar of Companies (Company Registration Number 04197666) in England and Wales. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity's operations and principal activities are detailed in the Trustees' Report. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements 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), the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Practice. Ascension Eagles Cheerleaders meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **2.2 Going concern** The Trustees have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing these financial statements. Page 21 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **2. Accounting policies (continued)** ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The Charity receives government and other grants in respect of furthering its charitable objective. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 22 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **2. Accounting policies (continued)** ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Taxation** The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **2.7 Tangible fixed assets and depreciation** Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: |Office equipment|-|33%| |---|---|---| |Gym equipment|-|25%| |Uniforms|-|20%| ## **2.8 Investments** Current asset investments are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. ## **2.9 Stocks** Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. ## **2.10 Debtors** Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Prepayments are valued at the amount prepaid. Page 23 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **2. Accounting policies (continued)** ## **2.11 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. ## **2.12 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. ## **2.13 Financial instruments** The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows: Debtors - trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 13. Prepayments are not financial instruments. Cash at bank - is classified as a basic financial instrument and is measured at face value. Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 15. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument. ## **2.14 Pensions** The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. ## **2.15 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 24 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2022**
**£**
Donations
12,403
Grants
31,810
Government grants
515
**Total 2022**
44,728
_Total 2021_
_59,246_|**Restricted**
**funds**
**2022**
**£**
-
38,333
-
38,333
_31,910_|**Total**
**funds**
**2022**
**£**
**12,403**
**70,143**
**515**
**83,061**
_91,156_|_Total_
_funds_
_2021_
_£_
_2,342_
_33,410_
_55,404_| |---|---|---|---| ||||_91,156_| ||||| In 2021, £31,910 of income from grants was allocated to restricted funds. All other income, being £59,246 in total, was allocated to unrestricted funds. Government grants recognised in the year relate to income received as part of the Job Retention Scheme. At the year-end, there were no unfulfilled conditions or other contingencies associated with this income. ## **4. Analysis of grants** |The Royal Docks Trust (London)
Jack Petchey
Tuxien Foundation Grant
Newham Council
Newham Council Summer Grant
Charities Aid Foundation (CAF)|**2022**
**£**
**33,333**
**1,810**
**30,000**
**2,000**
**3,000**
**-**
**70,143**|_2021_
_£_
_20,000_
_1,500_
_-_
_-_
_-_
_11,910_| |---|---|---| |||_33,410_| Page 25 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **5. Income from charitable activities** |**Unrestricted**
**funds**
**2022**
**£**
Cheerleading activities
65,811
Talent Central Recreational Classes
15,607
Talent Central Schools
21,125
Talent Central Hire
21,408
Performance and Others
4,181
Sales of Uniforms and Clothes
20,021
**Total 2022**
148,153
_Total 2021_
_73,267_|**Total**
**funds**
**2022**
**£**
**65,811**
**15,607**
**21,125**
**21,408**
**4,181**
**20,021**
**148,153**
_73,267_|_Total_
_funds_
_2021_
_£_
_42,410_
_9,189_
_4,350_
_9,493_
_694_
_7,131_| |---|---|---| |||_73,267_| |||| ## **6. Investment income** |**Unrestricted**
**funds**
**2022**
**£**
Bank interest receivable
190
_Total 2021_
_11_|**Total**
**funds**
**2022**
**£**
**190**
_11_|_Total_
_funds_
_2021_
_£_
_11_| |---|---|---| |||| Page 26 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **7. Analysis of expenditure by activities** |Cheerleading activities
_Total 2021_|**Activities**
**undertaken**
**directly**
**2022**
**£**
224,952
_164,642_|**Support**
**costs**
**2022**
**£**
33,367
_28,306_|**Total**
**funds**
**2022**
**£**
**258,319**
_192,948_|_Total_
_funds_
_2021_
_£_
_192,948_| |---|---|---|---|---| |||||| In 2021, £161,038 of expenditure was allocated to unrestricted funds and £31,910 of direct expenditure was allocated to restricted funds. ## **Analysis of direct costs** |Staff costs
Programme costs
**Total 2022**
_Total 2021_|**Cheer-**
**leading**
**activities**
**2022**
**£**
159,138
65,814
224,952
_164,642_|**Total**
**funds**
**2022**
**£**
**159,138**
**65,814**
**224,952**
_164,642_|_Total_
_funds_
_2021_
_£_
_149,908_
_14,734_| |---|---|---|---| ||||_164,642_| ||||| Page 27 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Depreciation
Overhead costs
Governance costs
**Total 2022**
_Total 2021_|**Cheer-**
**leading**
**activities**
**2022**
**£**
765
27,694
4,908
33,367
_28,306_|**Total**
**funds**
**2022**
**£**
**765**
**27,694**
**4,908**
**33,367**
_28,306_|_Total_
_funds_
_2021_
_£_
_765_
_22,892_
_4,649_| |---|---|---|---| ||||_28,306_| ||||| Governance costs have been analysed further in Note 8. ## **8. Governance costs** |Independent Examiners' remuneration - current year
Independent Examiners' remuneration - under-accrual of prior year
Accountancy and other services|**2022**
**£**
**3,360**
**60**
**1,488**
**4,908**|_2021_
_£_
_3,180_
_-_
_1,469_| |---|---|---| |||_4,649_| Page 28 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **9. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2022**
**£**
**146,989**
**7,356**
**4,793**
**159,138**|_2021_
_£_
_138,315_
_7,281_
_4,312_| |---|---|---| |||| |||_149,908_| The average number of persons employed by the Charity during the year was as follows: ||**2022**|_2021_| |---|---|---| ||**No.**|_No._| |Staff members|**12**|_11_| No employee received remuneration amounting to more than £60,000 in either year. The Key Management Personnel of the Charity comprise the Trustees and management personnel. The total amount of employee benefits (including employer national insurance contributions and pension contributions) received by Key Management Personnel for their services to the Charity was £53,958 (2021 - £51,892). ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2021 - £NIL)_ . During the year ended 31 August 2022, no Trustee expenses have been incurred _(2021 - £NIL)_ . Page 29 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **11. Tangible fixed assets** |**Cost or valuation**
At 1 September 2021
At 31 August 2022
**Depreciation**
At 1 September 2021
Charge for the year
At 31 August 2022
**Net book value**
At 31 August 2022
_At 31 August 2021_
**12.**
**Stocks**
Athletic clothing for resale
**13.**
**Debtors**
**Due within one year**
Trade debtors
Prepayments and accrued income|**Office**
**equipment**
**£**
**3,572**
**3,572**
**3,572**
**-**
**3,572**
**-**
_-_||**Gym**
**equipment**
**£**
**27,121**
**27,121**
**25,975**
**765**
**26,740**
**381**
_1,146_
**2022**
**£**
**2,431**
**2022**
**£**
**4,502**
**6,097**
**10,599**|**Total**
**£**
**30,693**| |---|---|---|---|---| |||||**30,693**| |||||**29,547**
**765**| |||||**30,312**| |||||**381**| |||||_1,146_| |||||_2021_
_£_
_-_
_2021_
_£_
_1,387_
_10,969_
_12,356_| Page 30 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **14. Current asset investments** ||**2022**|_2021_| |---|---|---| ||**£**|_£_| |CCLA Investment Fund|**448,305**|_426,148_| In 2019, the Charity purchased a £300,000 short-term investment with the CCLA Investment Fund. The investment can be liquidated at short notice and has been classified as a Current Asset Investment in these accounts. At the year-end, the investment was revalued upwards to £448,305 (2021: £426,148), with additions of £30,000 (2021: £Nil) and a revaluation loss of £7,843 (2021: gain of £74,426) being recognised through the Statement of Financial Activities and within its own revaluation reserve in the Statement of Funds. ## **15. Creditors: Amounts falling due within one year** |Other creditors
Accruals and deferred income
Grant income deferred during the year|**2022**
**£**
**9,941**
**12,418**
**22,359**
**2022**
**£**
**7,000**|_2021_
_£_
_18,265_
_4,738_| |---|---|---| |||| |||_23,003_| |||_2021_
_£_
_-_| In the year ended 31 August 2022, the Charity received £7,000 of grant income in advance for projects undertaken in the 22/23 financial year. Page 31 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **16. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
**Designated funds**
Gym Development Project
Fixed Assets and Premises
Fund
**General funds**
General Funds
Revaluation fund
**Total Unrestricted funds**
**Restricted funds**
Gym development project
She Leads programme
Newham's Future Cheerleading
Olympians
Newham Council
**Total of funds**|**Balance at 1**
**September**
**2021**
**£**
**240,998**
**1,146**
**242,144**
**155,871**
**126,148**
**282,019**
**524,163**
**56,219**
**-**
**-**
**-**
**56,219**
**580,382**|**Income**
**£**
**-**
**-**
**-**
**193,071**
**-**
**193,071**
**193,071**
**-**
**33,333**
**2,000**
**3,000**
**38,333**
**231,404**|**Expenditure**
**£**
**-**
**(765)**
**(765)**
**(219,221)**
**-**
**(219,221)**
**(219,986)**
**-**
**(33,333)**
**(2,000)**
**(3,000)**
**(38,333)**
**(258,319)**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**(7,843)**
**(7,843)**
**(7,843)**
**-**
**-**
**-**
**-**
**-**
**(7,843)**|**Balance at**
**31 August**
**2022**
**£**
**240,998**
**381**| |---|---|---|---|---|---| ||||||**241,379**| ||||||**129,721**
**118,305**| ||||||**248,026**| ||||||**489,405**| ||||||**56,219**
**-**
**-**
**-**| ||||||**56,219**| ||||||**545,624**| Page 32 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **16. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted**
**funds**
**Designated**
**funds**
Gym
Development
Project
Fixed Assets
and Premises
Fund
Tuxien
Foundation
**General funds**
General Funds
Revaluation fund
**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
Gym
development
project
She Leads
programme
COVID
community
response|_Balance at_
_1 September_
_2020_
_£_
_240,998_
_1,911_
_30,000_
272,909
_153,620_
_51,721_
205,341
478,250
_56,219_
_-_
_-_
56,219|_Income_
_£_
_-_
_-_
_-_
-
_132,524_
_-_
132,524
132,524
_-_
_20,000_
_11,910_
31,910|_Expenditure_
_£_
_-_
_(765)_
_-_
(765)
_(160,273)_
_-_
(160,273)
(161,038)
_-_
_(20,000)_
_(11,910)_
(31,910)|_Transfers_
_in/out_
_£_
_-_
_-_
_(30,000)_
_(30,000)_
_30,000_
_-_
_30,000_
_-_
_-_
_-_
_-_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_-_
_74,427_
_74,427_
_74,427_
_-_
_-_
_-_
_-_|_Balance at_
_31 August_
_2021_
_£_
_240,998_
_1,146_
_-_| |---|---|---|---|---|---|---| |||||||_242,144_| |||||||_155,871_
_126,148_| |||||||_282,019_| |||||||_524,163_| |||||||_56,219_
_-_
_-_| |||||||_56,219_| Page 33 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **16. Statement of funds (continued)** ## **Statement of funds - prior year (continued)** |**Total of funds**|_Balance at_
_1 September_
_2020_
_£_
_534,469_|_Income_
_£_
_164,434_|_Expenditure_
_£_
_(192,948)_|_Transfers_
_in/out_
_£_
_-_|_Gains/_
_(Losses)_
_£_
_74,427_|_Balance at_
_31 August_
_2021_
_£_
_580,382_| |---|---|---|---|---|---|---| ## Gym development project (designated) These funds are set aside towards the costs of a permanent Cheer Gym facility for the Ascension Eagles Cheerleaders, upon the end of the current lease. Please see the Trustees Report for further details. ## Fixed assets and Premises fund These funds relate to the fixed assets of the Charity and are reduced in line with the depreciation of the assets. ## Tuxien Foundation During the 19/20 year a grant of £30,000 was received from the Tuxien Foundation in advance of its due date, being September 2020. Although received early, these funds were utilised by the Charity as part of the spend in the year to 31st August 2021 and they were designated for this purpose. ## General funds These funds represent the equivalent of six months salaries and operating costs and are for the general use of the Charity. ## Gym development project (restricted) This fund represents donated funds which have been restricted for use in relation to the Gym Development project. ## She Leads programme This fund relates to grants received which have been restricted for use within the 'She Leads' programme. These funds have been fully utilised in each reporting year. ## COVID community response This fund represents grant funding which was restricted for use in COVID community response actvities. These funds were fully utilised in the 20/21 year. ## Newham's Future Cheerleading Olympians This fund represents grant funding which has been restricted for use in the Charity's Future Cheerleading Olympian programme. These funds were fully utilised in the 21/22 year. ## Newham Council This fund represents grant funding which has been restricted for use in the Charity's 'Living Well with COVID-19' programme. These funds were fully utilised in the 21/22 year. Page 34 **ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee and registered charity)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** ## **17. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2022**
**£**
Tangible fixed assets
381
Current assets
511,383
Creditors due within one year
(22,359)
**Total**
489,405
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2021_
_£_
Tangible fixed assets
1,146
Current assets
546,020
Creditors due within one year
(23,003)
**Total**
524,163|**Restricted**
**funds**
**2022**
**£**
-
56,219
-
56,219
_Restricted_
_funds_
_2021_
_£_
-
56,219
-
56,219|**Total**
**funds**
**2022**
**£**
**381**
**567,602**
**(22,359)**
**545,624**
_Total_
_funds_
_2021_
_£_
_1,146_
_602,239_
_(23,003)_
_580,382_| |---|---|---| ## **18. Related party transactions** Other than the Trustee and Key Management Personnel transactions detailed in Note 9 and Note 10, there were no related party transactions during either period. Page 35