Ascension Eagles Cheerleaders (a Company Limited by Guarantee)
Charity Number 1106766
Company Number 04197666
Unaudited Financial Statements and Annual Report
For the Year Ended 31 August 2024
Ascension Eagles Cherleaders Legal and Administrative Information
| Trustees | Sue Winston (Chair) |
|---|---|
| Erica De Rosa | |
| Lewis Ridett | |
| Peter Sharp | |
| Farrah Mughal | |
| Tara Stimpson | |
| Susan Spiller | |
| Hayley Budd (resigned 14 June 2024) | |
| Larsen Mabika (resigned 14 June 2024) | |
| Company Secretary | Tara Stimpson |
| Chief Executive Officer | Angela Green |
| Registered Office | Unit 2J |
| St. Marks Industrial Estate | |
| 439 North Woolwich Road | |
| London | |
| E16 2BS | |
| Independent examiners | Moore Kingston Smith LLP |
| 6th Floor | |
| 9 Appold street | |
| London | |
| EC2A 2AP | |
| Bankers | National Westminster Bank plc |
| Frobisher Road | |
| Beckton | |
| London | |
| E6 5LX | |
| Company Number | 04197666 |
| Charity Number | 1106766 |
ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
CONTENTS
| CONTENTS | |
|---|---|
| Our objectives and activities | 2 |
| Our mission, vision and values | 3 |
| Background and history | 3 |
| Structure, governance and management 3 | |
| Safeguarding | 4 |
| Trustee matters | 4 |
| Board changes in 2023-24 | 4 |
| Our approach to trustee appointments | 4 |
| Our recruitment process | 5 |
| Review of The Group’s policies and practices | 5 |
| The Director’s Report | 6 |
| Junior Leadership Team (JLT) | 7 |
| Ascension Eagles in 2023-24 | 8 |
| Competition results | 8 |
| Talent Central in 2023-24 | 9 |
| Our recreational classes | 9 |
| Our schools’ outreach programme | 10 |
| Chair’s review | 10 |
| Looking back at 2023-24 | 10 |
| Our impact | 11 |
| Strategic priorities for 2024-25 | 14 |
| Funding and support | 14 |
| Arrangements for setting pay and remuneration of Key Management Personnel | 15 |
| Public benefit | 15 |
| Financial review | 15 |
| Reserves policy | 15 |
| Preparation of this report | 15 |
| Statement of Trustees’ Responsibilities | 16 |
| Independent Examiner’s report | 17 |
| Statement of Financial Activities | 18 |
| Balance Sheet | 19 |
| Notes to the Financial Statements | 20 |
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report together with the financial statements of the charity known as Ascension Eagles Cheerleaders for the year 1 September 2023 to 31 August 2024.
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.
Note:
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.
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.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
Our mission, vision and values
Our Mission Our Vision Our Values We strive to develop Britain’s best Cheerleading is an effective way Consistency cheerleaders while transforming of helping children and young Integrity and inspiring children and young people to be healthy and gain Perseverance people to reach their full potential. confidence, while helping them to Persistence make a positive difference – both in their community and in the world.
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.
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-today responsibility delegated to the Management Team.
The Group’s Board has elected to follow the principles and practices set out in the Charity Governance Code (link: https://www.charitygovernancecode.org/en) 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”).
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
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 must complete an Enhanced Disclosure and Barring Service (DBS) check and trustee appointments are subject to a DBS check; we believe this approach is sensible to mitigate risks to our beneficiaries and to the charity’s reputation.
Our safeguarding policy, referred to as the Child And Adults At Risk Protection Policy (“CAARP Policy”), was reviewed and updated in May 2024 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. (link: https://www.ascensioneagles.com/_files/ugd/bf1a1d_b11abc239f4d475996f2703dbed04222.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 2023-24
During the year, two members of the AEC Board stepped down. Both trustees faced a significant increase in their commitments at work, which meant they felt they were no longer able to give AEC the time they had intended to give when they joined the Board.
Hayley Budd resigned as a trustee on 14 June 2024. During her four years as an AEC trustee, Hayley made a significant contribution to the development of our approach to impact measurement, taking a leading role in designing our athlete surveys, and the analysis and presentation of the survey data.
Larsen Mabika resigned as a trustee on 14 June 2024. As a passionate supporter of our mission, Larsen led on the development of AEC’s diversity and inclusion policy, and worked directly with AEC athletes on goalsetting.
We are grateful for the time, expertise and support Hayley and Larsen gave to AEC during their tenure. At the time of writing we are in the process of identifying potential new trustees to the Board and expect to finalise the appointments in Spring 2025.
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 OnBoard; 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. The Board also conducts a Trustee skills review every couple of years and seeks to address any skills gaps during Trustee recruitment programmes. A Board skills review was conducted in August 2024, in preparation for the recruitment of new trustees (appointments to be finalised in Spring 2025).
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 the Chair and, if possible, at least one other
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
existing Trustee, then invited to attend one of The Group’s events or to visit our gym to see what we do ‘at first hand’.
Where possible, 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.
All Trustee appointments are formally voted on by the Board. Any issues arising from the DBS checks or the declaration of eligibility may result in any offer of an appointment being withdrawn.
Review of The Group’s policies and practices
All of the Group’s policies were reviewed in May 2024 and the policies were approved by the Board. Each policy has a nominated Trustee who is responsible for ensuring each of their policies is up to date and reflects current regulatory requirements and best practice.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The Director’s Report
Angela Green, Programme Director – Ascension Eagles, writes:
This past year represents one of the most challenging chapters in our organisation’s history to date.
In September 2023 we officially received our three-months’ notice on our existing premises at Gallions Reach, the place we had called home for the previous 13 years. Even though we had always wanted a more permanent home of our own, the reality of moving all of our operations from Gallions Reach by December was overwhelmingly daunting. However, we were committed to ensuring that all who benefit from the services we provide would not be negatively impacted by the move and - where possible- that they would have no interruption to their regular schedule.
It was with immense pride that we reopened our doors in our new facility in St Mark’s industrial Estate to our families, just three weeks after we closed for our Christmas break in December 2023. This was made possible by the sheer hard work and dedication of our staff, trustees and building team, to whom I am incredibly grateful.
The season following our move was a huge success. Now, as we look forward to completing our first full year in the new space and all that we will achieve in our new home, we know the best is yet to come!
Highlights for the year include:
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Retaining our members during our relocation to St Marks; we only lost three members as a result of our move.
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We were successful in securing two years of funding from Go! London to ease our transition to a rented property.
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We completely redesigned our website and launched our new site in April 2024.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
- Two of our competition teams won an invitation to compete in the US Nfinity Finals to be held in Orlando in the United States of America. We have since created a travel team that will see 17 AEC athletes compete in this event in May 2025.
Junior Leadership Team (JLT)
Our Junior Leadership Team (JLT) programme continues to be a source of great pride for The Group. This programme offers an opportunity for AEC athletes to fulfil their ambition of becoming future leaders, both within the AEC programme and in their personal lives.
Participation in the JLT programme gives athletes a pathway to study for coaching qualifications, enhance their leadership skills and build their confidence – all of which enhance their employability.
These motivated young people take on additional responsibility for supporting other athletes and leading sessions. They receive guidance and mentorship from existing AEC leaders to help them develop their personal leadership style.
During the 2023-24 season each of our JLT members volunteered for over 125 hours and took part in a number of workshops. Nine of our members achieved their cheer coaching qualifications.
All of our JLT members attended first aid and safeguarding training during the season, and some all took part in additional activities, such as setting ‘SMART’ goals and cheer choreography skills.
“I love being a junior coach. It allows me to inspire and guide younger athletes while also developing my own leadership skills.”
Mara, junior coach, who supports Symphony our Youth 1 Team
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
Ascension Eagles in 2023-24
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) |
Royalty Senior Level 1 (aged 10+) |
Majesty Senior Level 2 (aged 11+) |
Gravity Youth Novice (aged 6-11) |
|---|---|---|---|
| Legacy Regionals - 3rd Future Cheer Regionals – 1st Legacy Nationals - 3rd ICC Nationals - 1st & Grand Champions, USA Nfinity Finals Bid Winners |
Legacy Regionals – 2nd Future Cheer Regionals – 1st Legacy Nationals – 3rd ICE Nationals – 2nd |
Legacy Regionals – 2nd Future Cheer Regionals - 2nd Legacy Nationals – 4th Future Cheer Nationals – 7th |
ICE Regionals Superior Rating ICC Nationals Excellent Rating |
| Symphony Youth Level 1 (aged 9-11) |
Trinity Senior Level 3 (aged 11+) |
Prophecy Junior Level 1 (aged 10-14) |
Serenity (Special Educational Needs Team) |
|---|---|---|---|
| Legacy Regionals – 3rd Future Cheer Regionals – 3rd Legacy Nationals – Exhibition ICC Nationals - 1st & USA Nfinity Finals Bid Winners |
Legacy Regionals – 4th Future Cheer Regionals – 3rd Legacy Nationals – 3rd Future Cheer Nationals – 8th |
Legacy Regionals – 4th Future Cheer Regionals - 2nd Legacy Nationals – 6th Future Cheer Nationals - 7th |
Performances at: Legacy Regionals |
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
Talent Central in 2023-24
Talent Central is London’s first “cheer gym”, based on the well-respected principles, values and training ethos of Ascension Eagles. The centre continues to be 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.
Cheerleading as a sport, allows athletes to develop physical skills but also provides a team dynamic; enabling athletes to make friends and build relationships, giving them an additional support network in their fellow athletes and coaches
As we focus on building athlete development, it is important to us to have an offer for athletes at all levels of our sport, from the grassroots all the way to elite competitive pathways. In order to do this we offer a number of initiatives to maximise our impact and extend our reach.
Our recreational classes
Our recreational classes give young people aged five and upwards a pathway to joining us in the gym, regardless of their ability. We offer tumble-only sessions 3 times a week for young people, designed for them to simply have fun, make friends and build their basic skills. Alongside these sessions, we also delivered holiday camps across the school holidays for participants in our schools’ programme and to children from the local community.
In these ways, we offer a key opportunity for young people to try our sport, without them having to commit fully to the costs and time-commitment that is required to take part in competitive cheerleading.
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“My daughter recently started gymnastics class at TC and we were worried that she wouldn’t be able to make friends as she’s really shy. She was welcomed instantly and has lots of new friends in the class and has found a new level of confidence.”
Parent feedback
“TC is an expert group of professionals that meet not just the technical needs of the girls, but their emotional needs as well. Incredibly happy to be part of this community and I have seen my daughter develop in confidence and skill since joining. I couldn’t recommend TC enough. “
Parent feedback
”I come here to learn new skills and make new friends. TC is the best.”
Athlete feedback
“I like to do handstands and back walkovers. I like TC because it’s fun. I feel really happy here.”
Athlete feedback
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
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 began the 2023-24 season with 13 schools’ classes a week, and finished the final school term with 14 schools participating in our schools’ programme.
Each of the three school terms culminated in our showcase events, held at the former Olympic venue, ExCeL London. Every young person taking part received an individual medal and certificate; each school received a trophy and either a bronze, silver or gold award level certificate. In total, 906 children attended our three showcase events, making this our most successful season to date.
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 expand their social networks by meeting other young people from different schools, cultures and backgrounds, with cheerleading giving them all a shared interest and goal.
We delivered cheerleading sessions for the following schools during the 2023-24 season: Britannia Village (two clubs), Calverton, Gallions Reach, Hallsville, Keir Hardie, Lathom Road (two clubs), Stratford Manor, New City, Rosetta (two clubs), Royal Wharf and St Angela’s. We also welcomed young people from St Anthony’s to our showcase events.
We are grateful to all of our school partners for the opportunity to bring the benefits and fun of cheerleading to so many young people, and we look forward to further building on our outreach programme over the coming seasons.
1d ~~7~~ ” I am a very bubbly person © but struggle to make friends. Cheer has helped me to be more confident.” ee a! < “I have met different people than are in my usual friendship group.”
Feedback from school programme participants
Chair’s review
Looking back at 2023-24
Our top priority for the 2023-24 season was to establish The Group in its new ‘home’ at St Marks Industrial Estate in North Woolwich. The termination of our lease at Gallions Reach in December 2023 created an opportunity for The Group to realise a long-held ambition to have a space which offers even better cheerleading facilities, and in the longer-term to provide additional ‘wrap-around’ services for our members, as well as making the space available to other groups in the local community to optimise use of the space during the daytime.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
As we had expected, the relocation brought new financial pressures, in the form of rent and other new operational costs. We had been planning for some years for increased operational costs arising from our inevitable relocation and had been managing our investment portfolio accordingly. This enabled us to pay for required refurbishment work in our new location. We were also successful in securing new funding from Go!London to help cover the costs of our rent, helping to support our transition to a new, higher cost-base over the first two years.
A difficult UK economic environment and increasing inflationary pressures continued to bring further uncertainty for many of the families we serve, particularly since the majority of them live in Newham where 37% of residents are estimated to be living in poverty ( Source: Employment and Health in Newham – Needs Assessment July 2022 ).
We continue to do our utmost to try and ensure our services remain as accessible, inclusive and affordable as possible, so that our athletes can continue to do the sport they love, regardless of their economic situation, demographic status or their ability. The cost of our classes is currently subsidised by 40% and we are committed to searching for new external funding which we can use to continue to subsidise membership fees, making our services affordable for those on low disposable incomes.
We will also continue to develop our recreational classes, which offer a more affordable option and provide young people with an alternative to the long-term commitment required for our competition programme.
Our impact
Our impact assessment 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.
Athlete feedback
To help us understand the impact cheerleading has for our young people, we invite our athletes and coaches to complete surveys during the year. We gather data in different ways - using structured questionnaires via Survey Monkey and through informal qualitative feedback (e.g. asking athletes to write on a sticky note and put it on the wall).
In our July 2024 survey we invited the young people to tell us what difference cheerleading makes for them. This word cloud shows the most prominent themes in their responses (the size of the word in the cloud denotes the frequency with which it was mentioned); key themes include happiness, exercise, confidence, strength, fun and flexibility.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
As part of our informal feedback gathering during the 2023-24 season, we asked our athletes “ How does being part of AEC make you feel? ” Here are some of the responses we received across our different age groups, reproduced here exactly as they were written by the young people.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
Strategic priorities for 2024-25
In summary, the strategic priorities agreed by the Board and management team as set out in our 2023-28 business plan are as follow:
1. Growth : Our ambition is to increase the total number of members in our competition and recreational programmes to 200 by the end of the 2027/28 season.
2. Grant income and funding : secure additional grant funding to help us cover the increased costs of operating from our new location and to diversify our non-operational income streams.
3. Sponsorship : secure corporate sponsorships to help us maintain our fees at an affordable level and to reduce the cost of competitions/events for members.
We will continue to look at ways in which we can diversify our income streams, such as establishing a regular giving programme for our alumni and renting out our gym space to local community groups when it’s not being used by our athletes (e.g. daytime groups for local families or activity groups for older people).
In the same way that we experimented with offering classes for home-educated children in 2024, we are always looking for potential new ways to support our young people – for example, mentoring, arranging external speakers on relevant topics or setting up visits to local organisations to help give our young people a broader perspective.
In the near-term, our major challenge will be to identify, recruit and train suitable coaches to support our growth plans. The development and growth of our Junior Leadership Team programme will be crucial in this regard.
We are highly aware that The Group faces a financial challenge in the next three to five years, as we draw on the investment assets which we have been holding in reserve for several years, to cover the increased operational costs resulting from our relocation. It is imperative that we identify and secure new sources of income and grant funding to make the space sustainable for us for the next ten years and beyond.
Many of our families are likely to continue to face financial challenges in the coming year and as a charity we are also far from immune from the impacts of the wider UK economic situation. Inflation and increased tax rates provide additional pressure.
But there are opportunities ahead too; the need for our services is as great as ever. For example, East London has some of the highest rates of childhood obesity in the UK, with almost 30 percent of year-six children in Newham being identified as obese ( Source: the Government's National Child Measurement Programme (NCMP) for England, 2022/23 school year). We will continue to draw on our passion, experience and technical expertise to play our part in making a difference in the lives of young people in Newham and East London.
Funding and support
Without the continued support of all of our funders and donors we would not be able to make such a difference to so many young lives. In 2023-24 we were fortunate and thankful to receive support from:
Go!London; The Tuixen Foundation; The Royal Docks Trust (London); The Jack Petchey Foundation; abrdn; and ExCeL.
This financial support enables us to subsidise our fees significantly, allowing us to change our athletes and participants approximately 40% less than the full cost of our services. Our donors' support therefore helps us to continue to make a healthy and fun activity affordable to the young people of Newham, giving them more choice and making sport more accessible for all.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.
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ASCENSION EAGLES CHEERLEADERS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
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 2023-24 are included elsewhere in this report.
Financial review
The reserves as at the beginning of the year were £550,988. We recorded a decrease in the year in unrestricted funds from £494,769 to £459,612 as we began to utilise the reserves set aside to support The Group in our move to new premises.
We recorded a decrease in Restricted Funds from £56,219 to £25,418 also in relation to the move to our new premises and refurbishment of the new space.
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 £175,000 based on current levels of expenditure.
Unrestricted general funds at year end were £283,410.
Total unrestricted reserves including designated funds and investment revaluation reserve at year end was £459,612.
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 13 January 2025.
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Sue Winston
Chair of Board of Trustees, Ascension Eagles Cheerleaders
Date : 12 March 2025
Page 15
Ascension Eagles Cheerleaders Report of the Trustees (Continued)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In preparing this report the trustees have taken advantage of the small company exemptions provided by section 415a of the Companies Act 2006.
Approved on behalf of the Board of Trustees and signed on its behalf by:
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..................................................
Sue Winston
Chair of Board of Trustees, Ascension Eagles Cheerleaders
Date: 12 March 2025
16
Independent Examiner's Report to the Trustees of Ascension Eagles Cheerleaders
I report to the charity trustees on my examination of the accounts of Ascension Eagles Cheerleaders for the year ended 31 August 2024.
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 2011 Act (“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 the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the 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:
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1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2) the accounts do not accord with those records; or
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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
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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.
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.
Adam Fullerton, FCA, DChA
For and on behalf of Moore Kingston Smith LLP Date: 12 March 2025 Chartered Accountants
9 Appold street London EC2A 2AP
Page: 17
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
| Notes Income from: Donations and legacies 2 Charitable activities 4 Investments 5 Total Income Expenditure on: Charitable activities 6 Total Expenditure 12 Net Income/(Expenditure) Transfers between funds Net movement in funds Reconciliation of Funds: Fund balances at 1 September 2023 Fund balances at 31 August 2024 Net gains/(losses) on investments |
Year ended 31 August 2024 Unrestricted Funds £ 32,352 175,675 13,351 221,377 289,593 289,593 33,060 (35,156) - (35,156) 494,769 459,612 |
Year ended 31 August 2024 Restricted Funds £ 30,438 - - 30,438 61,509 61,509 - (31,071) (31,071) 56,219 25,148 |
Year ended 31 August 2024 Total Funds £ 62,790 175,675 13,351 251,815 351,102 351,102 33,060 (66,227) - (66,227) 550,988 484,760 |
Year ended 31 August 2023 Total Funds £ 94,915 164,672 7,914 267,501 260,217 260,217 (1,920) 5,364 - 5,364 545,624 550,988 |
|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the period.
All of the above amounts relate to continuing activities.
The notes on pages 20 to 30 form part of these financial statements.
Page: 18
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
| Note | 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible assets | 10 | 59,621 | - | ||
| Current Assets | |||||
| Debtors | 11 | 11,547 | 9,634 | ||
| Current asset investments | 12 | 351,445 | 446,385 | ||
| Cash at bank and in hand | 85,690 | 115,495 | |||
| Creditors: | 448,681 | 571,514 | |||
| Amounts falling due within one year | 13 | (23,541) | (20,526) | ||
| Net Current Assets | 425,139 | 550,988 | |||
| Net Assets | 484,760 | 550,988 | |||
| Funds | |||||
| Unrestricted funds: | 14 | 459,612 | 494,769 | ||
| Restricted funds: | 14 | 25,148 | 56,219 | ||
| 484,760 | 550,988 |
For the financial year ended 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act in respect to accounting records and the preparation of the financial statements.
The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The accounts were approved and authorised for issue by board on and signed on its 13 January 2025 behalf by:
…………………………........... …………………………........... eo & Sue Winston, Chair Tara Stimpson, Treasurer Trustee Trustee
Company No: 04197666
Page: 19
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
1 Accounting Policies
Charity 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.
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.
Basis of Preparation
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 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.
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.
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.
Page: 20
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
1 Accounting Policies
Income (continued)
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
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.
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.
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.
Page: 21
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
1 Accounting Policies
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:
| lowing basis: | |
|---|---|
| Leasehold improvement | 17% |
| Office equipment | 33% |
| Gym equipment | 25% |
| Uniforms | 20% |
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
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.
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.
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.
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 11. 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 13. 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.
Page: 22
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
1 Accounting Policies (continued)
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.
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: 23
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
2 Income from donations and legacies
Year to 31 August 2024
==> picture [448 x 426] intentionally omitted <==
----- Start of picture text -----
2024 2024 2024
Unrestricted Restricted Total
£ £ £
Donations 10,552 - 10,552
Grants (see note 3) 21,800 30,438 52,238
- - -
Government grants
32,352 30,438 62,790
Year to 31 August 2023
2023 2023 2023
Unrestricted Restricted Total
£ £ £
Donations 15,645 - 15,645
Grants (see note 3) 50,520 28,750 79,270
- - -
Government grants
66,165 28,750 94,915
3 Analysis of grants
2024 2023
£ £
The Royal Docks Trust (London) 20,000 28,750
Jack Petchey 1,800 1,800
Tuxien Foundation Trust 20,000 20,000
Go London 10,438 -
Newham Council - 7,000
NatWest - 20,000
Attic - 1,720
52,238 79,270
----- End of picture text -----
Page: 24
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
4 Income from charitable activities
==> picture [486 x 552] intentionally omitted <==
----- Start of picture text -----
Unrestricted Total Unrestricted Total
2024 2024 2023 2023
£ £ £ £
Cheerleading activities 82,227 82,227 78,392 78,392
Talent Central Recreational Classes 22,469 22,469 21,309 21,309
Talent Central Schools 26,235 26,235 21,720 21,720
Talent Central Hire 23,788 23,788 29,638 29,638
Performance and Others 7,825 7,825 4,774 4,774
Sales of uniforms and clothes 13,131 13,131 8,839 8,839
175,675 175,675 164,672 164,672
5 Investment income
Unrestricted Total Unrestricted Total
2024 2024 2023 2023
Income from Investments 13,351 13,351 7,914 7,914
6 Expenditure
Direct costs Support costs Total
2024 2024 2024
£ £ £
Cheerleading activities 223,306 127,796 351,102
Direct costs Support costs Total
2023 2023 2023
£ £ £
Cheerleading activities 224,208 36,009 260,217
In 2023, £231,467 of expenditure was allocated to unrestricted funds and £28,750 was allocated to
restricted funds.
Analysis of direct costs 2024 2023
£ £
Staff costs 167,217 164,956
Programme costs 56,089 59,252
223,306 224,208
Analysis of support costs
2024 2023
£ £
Depreciation 7,453 381
Overhead costs 115,357 30,916
Governance costs (see note 7) 4,986 4,712
127,796 36,009
----- End of picture text -----
Page: 25
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
| 7 Governance costs Independent Examiners' remuneration - current year Accountancy and other services 8 Staff Costs Staff salaries Social security costs Pension costs The average monthly number of employees was: Average number of employees |
2024 £ 3,800 1,186 4,986 2024 £ 155,637 6,727 4,854 167,217 2024 11 |
2023 |
|---|---|---|
| £ 3,500 1,212 4,712 2023 £ 153,304 |
||
| 6,702 4,950 |
||
| 164,956 2023 11 |
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 £ 60,460 (2023 - £58,164).
No employee received remuneration amounting to more than £60,000 in either year
9 Trustees
No Trustee received any remuneration during the year (2023 - £nil).
No Trustees were reimbursed for expenses during the year (2023 - £nil).
Page: 26
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
==> picture [465 x 436] intentionally omitted <==
----- Start of picture text -----
10 Tangible Fixed Assets
Office Computer Leasehold
Equipment Equipment improvement Total
£ £ £
Cost or Valuation
-
At 1st September 2023 3,572 27,121 30,693
Additions 67,074 67,074
Cost as at 31st August 2024 3,572 27,121 67,074 97,767
Depreciation
-
At 1st September 2023 3,572 27,121 30,693
- -
Charge for the year 7,453 7,453
At 31st August 2024 3,572 27,121 7,453 38,146
Net Book Value
At 31st August 2024 - - 59,621 59,621
At 31st August 2023 - - - -
11 Debtors
2024 2023
£ £
Trade debtors 3,770 9,385
-
Other debtor 1,025
Prepayments and accrued income 6,752 249
11,547 9,634
12 Current asset investment
2024 2023
£ £
Opening balance 446,385 448,305
-
Disposals (128,000)
Gain/(loss) on investment 33,060 (1,920)
Closing balance 351,445 446,385
----- End of picture text -----
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.
| 13 Creditors: Amounts falling due within one year Trade creditors Other creditors Accruals and deferred income Deferred income at 1 September Grant income released during the year Grant income deferred during the year |
2024 £ - 15,034 8,508 23,541 1,667 (1,667) - - |
2023 £ 6,720 5,831 7,975 20,526 7,000 (7,000) 1,667 1,667 |
|---|---|---|
Page: 27
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
13 Funds Year to 31 August 2024
| Brought forward 31 August 2023 £ Unrestricted funds: Designated funds Gym development project 240,998 Fixed assets and premises fund - 240,998 General funds General Fund 137,386 Revaluation fund 116,385 Total unrestricted funds 494,769 Restricted funds: Gym development project 56,219 She Leads programme - Go London - Total restricted funds 56,219 Total funds 550,988 Year to 31 August 2023 Brought forward 1 September 2022 £ Unrestricted funds: Designated funds Gym development project 240,998 Fixed assets and premises fund 381 241,379 General funds General Fund 129,721 Revaluation fund 118,305 Total unrestricted funds 489,405 Restricted funds: Gym development project 56,219 She Leads programme - Total restricted funds 56,219 Total funds 545,624 |
Incoming resources £ |
Outgoing resources £ |
Gains/ (losses) £ - - - - 33,060 33,060 |
Carried forward 31 August 2024 £ 176,203 - 176,203 133,965 149,445 459,612 |
|---|---|---|---|---|
| - - - |
(64,795) - (64,795) |
|||
| 221,377 - 221,377 |
(224,798) - (289,593) |
|||
| - 20,000 10,438 30,438 |
(31,071) (20,000) (10,438) (61,509) |
- - - - |
25,148 - - 25,148 |
|
| 251,815 Incoming resources £ - - - 238,751 - 238,751 - 28,750 28,750 267,501 |
(351,102) Outgoing resources £ - (381) (381) (231,086) - (231,467) - (28,750) (28,750) (260,217) |
33,060 Gains/ (losses) £ - - - (1,920) (1,920) - - - (1,920) |
484,760 Carried forward 31 August 2023 £ 240,998 - 240,998 137,386 116,385 494,769 56,219 - 56,219 550,988 |
Page: 28
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
13 Funds (continued)
Gym development project (designated)
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.
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)
These funds were set aside towards the costs of a permanent Cheer Gym facility for the Ascension Eagles Cheerleaders at St Marks Industrial Estate, upon the end of the lease at Gallions Reach. Please see the Trustees Report for further details.
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.
Go! London
This fund relates to grants received which have been restricted for use to support the payment of rent for our new Cheer Gym at St Marks Industrial Estate.
14 Analysis of funds
| Year ended 31 August 2024 Fixed assets Net current assets Net assets Year ended 31 August 2023 Fixed assets Net current assets Net assets |
2024 Restricted Funds £ - 25,148 25,148 2023 Restricted Funds £ - 494,769 494,769 |
2024 Unrestricted Funds £ 59,621 399,991 459,612 2023 Unrestricted Funds £ - 56,219 56,219 |
2024 Total Funds £ 59,621 425,139 484,760 2023 Total Funds £ - 550,988 550,988 |
|---|---|---|---|
Page: 29
Ascension Eagles Cheerleaders Statement of Financial Activities For the year ended 31st August 2024
15 Related Party Transactions
During the year, trustees donated a total of £4,117 (2023: £3,000) to the charity.
Other than the Trustee donations described above, and Trustee and Key Management Personnel transactions detailed in Note 8 and Note 9, there were no related party transactions during either year.
Page: 30