2021-02-28-accounts - Heathrow School Of Gymnastics & Dance Ltd

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered company number :05365687 (England and Wales) Registered charity number: 1110574

Report and Accounts Financial statements for the year ended 28 February 2021 for

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Report and accounts Contents

	Page
Report of the trustees	1
Statement of Trustees' and Directors' Responsibilities	6
Independent Examiner's Report	7
Statement of Financial Activities	8
Statement of Financial Position	9
Cash flow statement	10
Notes to the Financial Statements	11
Detailed Statement of Financial Activities	18

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee

TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT)

Year Ended 28 February 2021

The trustees (and the directors of the charity for the purposes of company law), present their report with the financial statements of the charity for the year ended 28 February 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Name	Heathrow School of Gymnastics & Dance Limited
Registered Company number	05365687 (England and Wales)
Registered Charity number	1110574
Principal address and registered office	Green Lane
	Hounslow
	Middlesex
	TW4 6DH
Trustees	T J Anstiss
	Mihaela Zdrali
	Paul Gibbons
Company Secretary	Mihaela Zdrali
Directors	V Walduck - Chief Executive Officer & Head coach
	Paul Gibbons
	Mihaela Zdrali
	T J Anstiss
Independent Examiner	Mohan Kripalani (Penningtons Accountants Limited)
	86 Ormond Drive
	Hampton
	Middlesex
	TW12 2TN
Bankers	Lloyds TSB Bank Plc
	73-75 High Street
	Staines
	Middlesex
	TW18 4PP
Solicitors	Ashfords LLP, Tower Wharf, Cheese Ln, Bristol BS2 0JJ

Heathrow School of Gymnastics & Dance Limited

Company Limited by Guarantee

TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT)

Year Ended 28 February 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the company law.

Heathrow School of Gymnastics & Dance Limited was incorporated on 15 February 2005 and was registered as a charity on 26 July 2005. The company is managed on behalf of the members by a Board of Trustees. The day to day administration is under the control of the Chief Executive.

The company operates under the name of Heathrow Gymnastics Club, hereinafter referred to as the Club.

Recruitment and appointment of new trustees

The directors of the company under the company's Articles are known as members of the Board of Trustees. The Board of Trustees seeks to ensure that the interests of the gymnasts and the development of the Club are appropriately reflected through the skills and diversity of the Management Committee. Individuals who exhibits a close active interest in the daily running and activities of the Club and have appropriate skills are invited to join the Management Committee.

Induction and training of new trustees

Newly appointed trustees are familiar with the operations of the Club. Additionally new trustees are encouraged to attend a series of training sessions to familiarise them with the charity and the structure of British Gymnastics. These sessions are conducted by the Programme Director, the Director of Administration and Coaching Director of the charity and cover the following areas:

The obligations of the Management committee members.
The operational framework of the charity.
The resources and current financial position as set out in the latest published accounts.
The future plans and objectives.

The Charity Commission's guide 'Responsibilities of Charity Trustees' is also issued to new trustees on appointment.

Organisational structure

The management committee meets at regular intervals with the Programme Director, the Director of Coaching and the Director of Administration. Between them, they are responsible for all operational matters, including the financing and management of gymnastic activities. The Programme Director is responsible to the Trustees.

Wider network

The Club has developed a strong relationship with Hounslow Council, the British Gymnastics and a good network of users. This together with the commitment of the coaching staff has ensured that the Club continues to achieve the annual objectives set by the Management Committee.

Related parties

No trustee or other person related to the charity had any personal interest in any contract. There were no related party transactions during the year that are not shown elsewhere in the accounts.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Management Committee regularly reviews risk management with input from the Director of Coaching and Director of Administration.

The Trustees are in touch with the CEO monthly and immediately if necessary.

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee

TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT)

Year Ended 28 February 2021

OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT

The Trustees have had regard to the Charity Commission's guidance on public benefit in carrying out the charity's objectives.

Objectives and aims

To advance for the benefit of the public, the education of young persons within the London Borough of Hounslow and the neighbourhood by ensuring that due attention is given to the physical education of such persons as well as the development and occupations of their minds and with a view to furthering this objective to encourage, promote and to join with other persons and organisations in encouraging and promoting in the area of benefit, the sport of gymnastics and the practice of such sport by the persons of all ages. This includes persons under disability whether mental or physical and to provide or assist in the organisation and the provision of facilities and to encourage such persons to participate in gymnastics in its widest sense including dance.

The club continues to provide excellent gymnastic services but does not plan to increase in size. The trustees believe that the Club are running at capacity and more children participating reduces the quality of the service. The trustees acknowledge that they could provide more classes and the waiting list could support this. However they feel other clubs that have expanded beyond 1200 member base, may lose the personal touch between coaches and children. The Club also has over 200 children that compete and this requires more intense use of the facilities and training time.

The Trustees continue to achieve the Clubs aims by good control and Senior management staff with passionate coaches. The Club is running at capacity and the objectives are to continue our high standards and economic viability. The trustees relies on the careful leadership and trust in the Club's Senior Management.

Significant activities

The significant activities of the Club are coaching and competitions.

Volunteers

The Management Committee and a pool of volunteers carry out number of activities relating to catering and fund raising.

Heathrow School of Gymnastics & Dance Limited

Company Limited by Guarantee

TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT) Year Ended 28 February 2021

Strategic Report

The following sections for achievements and performance and financial review form the strategic report of the charity

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Club had a challenging year with the Covid 19 pandemic and the repeated periods of lockdown (4 months, 1 month and a further 2 months). When permitted, from the second lockdown the Club ran many online activities during these periods which enabled us to retain members whilst generating limited income. Most of the Clubs members returned to classes after lockdown. The competitive programme of all gymnastic disciplines was severely curtailed or closed. Danusia Francis the Clubs Olympian had to wait until 2021for the Games. The furlough scheme was significant in helping the Club retain its staff. Despite these disruptions, the Club invested in building infrastructure and decoration upgrades, and the Trustees and management implemented the recommendations of an independent review of the Clubs Welfare and Safeguarding policies and management. The Club used a significant part of its reserve fund to cover costs during periods of closure and re-establishment of classes.

Fundraising activities

Donations and grants are more difficult to gain with strict criteria that need to be fulfilled. Replacement of equipment is rarely funded.

Internal and external factors

FINANCIAL REVIEW

Results for the period

Unrestricted Funds

In the year, the overall net income / (net deficit) of the charity amounted to (£228,859) [2020 - £116,854]. The deficit is predominantly due to the additional spending in the year to improve the current facilities of the club.

Heathrow School of Gymnastics & Dance Limited

Company Limited by Guarantee

TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT) Year Ended 28 February 2021

Reserves policy

In line with Charity Commission requirements, the Board of Trustees recognise the need to maintain reserves to ensure that the company meets statutory and contractual obligations. Provision is made to ensure sufficient funds for the following contingencies:

Staff redundancies

Sickness cover Uninsured losses (e.g. excesses on professional indemnity and employment claims) Flood

Fire

The Board of Trustees also recognise the need for sufficient funds to replace existing and invest in new gymnastic equipment to ensure the continued operation and development of gymnastic programmes. The trustees are of the opinion that a reserve of £300,000 is sufficient towards any contigencies that may arise in future.

Principal funding sources

The principal funding sources for the Club were generated from training fees, hire of the gymnasium and PlayGym.

FUTURE DEVELOPMENTS

The Club will continue to strengthen coaching resources and will continue to grow our community activities for the benefit of Hounslow and the surrounding areas.

The club will also be upgrading its lighting to LED which would provide reduced costs and eco friendly environmental care. Solar panels are being considered for the future.

Statement of Trustees' and Directors' Responsibilities

The Board of trustees including the directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the trustees and directors to prepare accounts for each financial year. Under that law the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees and directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees and directors are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees and directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking resonable steps for the prevention and detection of fraud and other irregularities. The directors and trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website

STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE INDEPENDENT EXAMINER

there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees and directors have taken all the steps that they ought to have taken to make themselves aware of a relevant audit information and to establish that the charitable company's auditors are aware of that informatio

The trustees' and directors' annual report and the strategic report were approved on 24th December 2021 and signed on behalf of the board of trustees by:

ON BEHALF OF THE BOARD:

....................................................... Ms Mihaela Zdrali Director/Trustee

Heathrow School of Gymnastics & Dance Limited Independent Examiner's Report

Independent Examiner's Report to the Trusteess of Heathrow School of Gymnastics & Dance Limited

I report to the trustees on my examination of the financial statements of Heathrow School of Gymnastics & Dance Limited for the year ended 28 February 2021.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. ('the 2006 Act).

I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act') and in carrying out my examination I have followed all the applicable 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 the body listed in section 145 in 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 (ICAEW), 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;

1) the accounting records were not kept in accordance with section 130 of the Charities Act; or

2) the financial statements do not accord with those records; or

3) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or

4) the financial statements 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 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.

Mohan Kripalani

Penningtons Accountants Limited Chartered Accountants

86 Ormond Drive Hampton Middlesex TW12 2TN

24 December 2021

Heathrow School of Gymnastics & Dance Limited

Company Limited by Guarantee Statement of Financial Activities (Including Income and Expenditure Account) for the year ended 28 February 2021

Unrestricted funds £ 273,964 21,749 3,068 551,966	Restricted funds £ - - - - -	2021 £ 273,964 21,749 3,068 551,966	2020 £ - 102,001 6,532 1,075,778
850,747		850,747	1,184,311
27,571 956,412 95,623 -	- - - - - 379,735 379,735	27,571 956,412 95,623 -	80,173 1,164,524 56,424 44
1,079,606		1,079,606	1,301,165
(228,859) 564,806		(228,859) 944,541	(116,854) 1,061,395
335,947		715,682	944,541

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Balance Sheet as at 28 February 2021

Notes Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets NET ASSETS FUNDS Unrestricted funds 19 Restricted funds Total funds	Unrestricted Funds 269,351 25,233 26,940 90,390 142,563 (75,967) 66,596 335,947	Restricted Funds 79,735 - - 300,000 300,000 - 300,000 379,735	2021 Total Funds £ £ 349,086 25,233 26,940 390,390 442,563 (75,967) 366,596 715,682 335,947 379,735 715,682	2020 Total Funds £ £ 444,349 28,865 5,180 505,671
				539,716 (39,524)
				500,192

				944,541
				564,806 379,735
				944,541

The financial statements are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved by the members of the committee on the 28 December 2021 and are signed on their behalf by:

Mihaela Zdrali Director/Trustee

V Walduck - Chief Executive Officer & Head coach Director

Company Registration number: 05365687 (England and Wales)

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Cash Flow Statement for the year ended 28 February 2021

Operating activities Profit for the financial year Adjustments for: Depreciation Interest Payable Decrease/(increase) in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Cash generated by operating activities Investing activities Interest paid Payments to acquire tangible fixed assets Cash generated by investing activities Net cash generated Cash at bank and in hand less overdrafts at 1 March Cash at bank and in hand less overdrafts at 28 February Cash and cash equivalents comprise: Cash at bank and in hand	2021 £ (228,859) 109,850 - 3,632 (21,760) 36,443 (100,694) (100,694) - (14,587) (14,587) (115,281) 505,671 390,390 390,390	2020 £ (116,854) 113,228 44 (4,045) 12,137 (14,148)
		(9,638)
		(9,638)
		(44) (128,414)
		(128,458)
		(138,096) 643,767
		505,671
		505,671

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts

for the year ended 28 February 2021

1 Accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

Basis of preparation

The financial statements have been prepared on the historical cost basis with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

No amounts are included for the contribution of general volunteers.

Income from grants for the supply of services is recognised with the delivery of the required service. These are classified as restricted funds as there is a contractual requirement for it to be spent on a particular purpose and returned if unspent.

Income from gymnastics and dance contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is accounted for on an accruals basis, inclusive of VAT, and has been classified under headings that aggregate all cost related to the category.

Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Volunteer time

A significant contribution is made by volunteers throughout the year and the value of these donated services is not reflected in the accounts

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2021

Allocation and apportionment of costs

The trustees have allocated the support costs on a direct basis which they deem to be most accurate.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Equipment costing £500 or less is not capitalised but is expensed in the year of purchase.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Long Leasehold Over the term of the lease Fixtures & Equipments 10% on cost Gymnasium equipment 25% on cost Motor vehicle 25% on cost

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for a particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Leasing and hire purchase commitments

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Investments

Investments are measured at fair values less any accumulated impairment losses.

Going Concern

There are no material uncertainities about the charity's ability to continue.

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2021

2 Grant Income Grants	2021 2020 £ £ 273,964 -
	273,964 -

During the year the following grants were received or due to be received for the period up to 28 February 2021;

Coronavirus Job Rentention Scheme Grant £255,367 Grant from London Borough of Hounslow £18,214 Other small grants £383

3 Activities for generating funds Hire of club Clothing Competitions, Displays and courses Photographs & DVDs Vending machine 4 Investment income Deposit account interest 5 Incoming resources from Charitable Activities Activity Training Fees Provision of Gymnastic facilities Transport and international travel Provision of Gymnastic facilities 6 Fundraising Trading: Cost of goods sold and other costs Clothing and chalk Competitions and displays Vending machine Photographs and DVDs Support costs (note 8)	2021 £ 7,010 8,698 3,217 - 2,824	2020 £ 36,933 25,339 19,171 5,727 14,831
	21,749	102,001
	2021 £ 3,068	2020 £ 6,532
	3,068	6,532
	2021 £ 545,916 6,050	2020 £ 1,054,629 21,149
	551,966	1,075,778
	2021 £ 1,641 7,355 2,170 73 16,332	2020 £ 20,154 27,765 10,831 1,924 19,499
	27,571	80,173

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts

for the year ended 28 February 2021

Management £ 12,438 236,336	Direct costs £ 646,069	Support costs (see note 8) £ 310,343	Totals £ 956,412
	Information Technology £ 678 12,888	Human Resources £ 3,216 61,119	Totals £ 16,332 310,343
248,774	13,566	64,335	326,675

Support costs, included in the above, are as follows:

Rent, rates & water Insurance Light and heat Telephone Printing, postage and stationery Other support cost Depreciation and loss on disposal Computer costs Reception & administrative wages Reception & administrative social security Reception and administrator pension cost Reception and administrator fees	Fundraising trading : cost of goods sold and other costs £ 669 405 1,162 122 1,066 3,522 5,492 678 2,907 91 68 150	Provision of gymnastic facilities £ 12,714 7,704 22,086 2,313 20,246 66,915 104,358 12,888 55,236 1,732 1,296 2,855	2021 Total activities £ 13,383 8,109 23,248 2,435 21,312 70,437 109,850 13,566 58,143 1,823 1,364 3,005	2020 Total activities £ 29,167 7,727 43,299 4,937 9,591 113,686 99,728 18,287 37,228 3,949 907 21,530
	16,332	310,343	326,675	390,036

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts

for the year ended 28 February 2021

9 Governance costs Accountancy & book keeping fees Management and admin fees Legal fees Independent Examiner's fees 10 Net incoming / (outgoing) resources for the year Net resources are stated after charging: Independent Examiner's fees Depreciation - owned assets	2021 £ 4,700 53,175 35,354 2,394	2020 £ 4,600 46,925 2,505 2,394
	95,623	56,424
	2021 £ 2,394 109,850	2020 £ 2,394 113,228

11 Wages and salaries

The average number of employees, calculated on the basis of full time equivalents was:

Coaches Administration Staff costs Wages and salaries Social Security	2021 Number 39.0 1.0	2020 Number 39.0 1.0
	40.0	40.0
	2021 £ 521,075 26,214	2020 £ 537,443 30,278
	547,289	567,721

No employee was paid more than £60,000 in the year

11A Trustees' remuneration and expenses

None of the trustees were paid remuneration or expenses during the year ended 28 February 2021 (2020: £nil).

12 Interest payable Interest payable	2021 £ -	2020 £ 44

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2021

13 Tangible fixed assets

Leasehold Land and buildings £ 976,867 - -	Plant and machinery etc £ 314,067 7,623 -	Gymnasium equipment £ 259,414 6,964 (9,185)	Motor vehicles £ 57,966 - -	Total £ 1,608,314 14,587 (9,185)
976,867	321,690	257,193	57,966	1,613,716
793,234 33,257 -	181,850 25,037 -	178,012 37,064 (9,185)	10,869 14,492 -	1,163,965 109,850 (9,185)
826,491	206,887	205,891	25,361	1,264,630
150,376	114,803	51,302	32,605	349,086
183,633	132,217	81,402	47,097	444,349

14 Stocks Stocks 15 Debtors Other debtors Prepayments 16 Creditors: amounts falling due within one year Trade creditors Other taxes and social security costs Other creditors Accrued Expenses It is the company policy to write off Gymnasium Equipment which are more than	2021 £ 25,233 8 years old.	2020 £ 28,865
	25,233	28,865
	2021 £ 26,940 -	2020 £ 3,255 1,925
	26,940	5,180
	2021 £ 15,262 7,000 39,223 14,482	2020 £ 6,112 8,168 3,593 21,651
	75,967	39,524

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2021

17 Other financial commitments Operating leases which expire: in over five years At the year end the company had annual commitments under non-cancellable operating leases as set out below:	2021 £ 12,167	2020 £ 18,250

18 Related parties

A total amount of £191,807 [2020 - £175,850] were paid to the related parties for the year ended 28 February 2021. The payments were made to the directors and their family members for provision of gym coaching, travel accomodation and management of gym. These transactions are considered to be of arm's length basis.

19 Movement in funds

Movement in funds
Unrestricted funds General fund Restricted funds Restricted Total Funds Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted Total Funds	At 1.3.20 £ 564,806 379,735	Net movement in funds £ (228,859) -	At 29.2.21 £ 335,947 379,735
	944,541	(228,859)	715,682
	Incoming resources £ 850,747 -	Resources expended £ (1,079,606) -	Movement in Funds £ (228,859) -
	850,747	(1,079,606)	(228,859)

20 Cash at bank

Cash at bank at the year end of £390,392 includes a contingency and roof replacement fund of £300,000 which is not available to use on a day to day basis and therefore should not be looked at as working capital for the company.

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Summarised Statement of Financial Activities for the year ended 28 February 2021

INCOMING RESOURCES RESOURCES EXPENDED Gross loss Loss before tax	2021 £ 850,747 (1,079,606) (228,859) (228,859)	2020 £ 1,184,311 (1,301,165)
		(116,854)
		(116,854)

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Detailed Statement of Financial Activities

for the year ended 28 February 2021

INCOMING RESOURCES Grants Hire of club Clothing Comps. Displays, Courses and BG Insurance Photographs & DVDs Vending machine Deposit account interest Training fees Transport and international travel RESOURCES EXPENDED Fundraising training:cost of goods sold and other costs Clothing and chalk Competitions and displays Photographs and DVDs Vending machine Charitable activities Coaching fees Coaching wages and salaries Coaching wages social security Coaching Pension cost Casual Labour Staff training and welfare Travel and accommodation	2021 £ 273,964 7,010 8,698 3,217 - 2,824 3,068 545,916 6,050 850,747 1,641 7,355 73 2,170 11,239 137,871 462,932 20,611 5,263 - 156 19,236 646,069	2020 £ - 36,933 25,339 19,171 5,727 14,831 6,532 1,054,629 21,149
		1,184,311
		20,154 27,765 1,924 10,831
		60,674
		175,598 500,215 26,329 5,300 2,000 4,697 79,848
		793,987

Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Detailed Statement of Financial Activities

for the year ended 28 February 2021

Administrative expenses Support Cost Rent and rates Light, heat and water Cleaning Telephone and fax Printing, postage & stationery Subscriptions Bank charges Insurance Equipment expensed Repairs and maintenance Motor Expenses Donations Entertaining Catering Depreciation (Profit) / Loss on disposal Reception and admin fees Information technology Human resources Administrative wages Administrative social security Administrative Pension cost SMP Recovered Governance costs Accountancy & book keeping fees Independent Examiner's fees Management and admin fees Other legal and professional Interest payable Interest payable	2021 £ 13,383 23,248 14,628 2,435 21,312 158 6,929 8,109 5,370 42,030 559 - (172) 935 109,850 - 3,005 251,779 13,566 58,143 5,603 1,364 (3,780) 61,330 4,700 2,394 53,175 35,354 95,623 - - 1,079,606	2020 £ 29,167 43,299 17,578 4,937 9,591 155 7,438 7,727 15,555 53,367 2,454 1,500 10,524 5,116 113,228 (13,500) 21,530
		329,666

		18,287
		37,228 3,949 907 -
		42,084
		4,600 2,394 46,925 2,505
		56,424
		44
		44

		1,301,166