COMPANY REGISTRATION NUMBER: 05588094 CHARITI REGISTRATION NUMBER: 1112659 Waveney Gymnastics Club Company Limited by Guarantee Unaudited financial statements 31 December 2021
Wav•ney Gymnastics Club Company Llmlted by Guarantse Financial statoments Year ended 31 Doc•mber 2021 Pge Trustees, annual report (inccffporating Ihg (r00t5, report) Indgpgnd&nt examlnefs report to thè trustees ststemenl of financ4al activitss (Induding irthm8 and expenditure account} Balance sheet 10 Note8 to the flnancoal statements 12
Waveney Gymnastlcs Club Company Limited by Guarantee Trusto08' annual report {incorporallng the dlr•ctors' report) Year end•d 31 Doc•mber 2021 The trustee6, who are also the dirèctors for the FaKpOs of company law, prgswtt th&ir rfjport and the u¢*ted finan¢ial statement8 of tho charlty for the year ended 31 December 2021. The financial statements have be•n prepad in 8c¢ordance vAth the aco)unts"ng poliues set out in notes lo the accounts and comply with the charity8 goveming dorAJment. the Chaiilies Act 2011 and Companies A¢t 2Ix)6 and Accounting and Reporting by Charities.. Slatgmenl of Recommended Pradi¢o applicable lo arities preparing their ac¢ounls in accordance wilh the Finan81 Reptsrb"ng sId&[d Ippli&Ie in the UK and Republic of Irdand pUished in October 2019. Roferon¢• and •dmlnlstrativ• d•tsll• R•gi•t•r•d charity nam• Waven&y Gymnastics Club h•rlty rnghtratlon numb•r 1112659 CIKnparky r•glstr•kn numb•r 05588094 Prfnclyl offlu and r•gl•tsr•d 104 Nodey Road Lcwesloft SuffoFk NR33 OUG Th• tru•t• The Irustses who sewd durlng the year arKI al the dale of approval werè as follows.. Ms T Bullordloppoinled 18 Septembgr 20211 Mr D Chipperfield Idece8sed on 18 March 2022) Mr A Greenfield Mr N Jack Mrs M Mull¥nd¢r Mr G Parr Mr J Pawsey Mi R Rushmere Ind•pond•nt •x•mln•r M Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bank$id¥ 300 Pea¢hman Way Broadland Busin8ss Park Norwi¢h NR7 OLB Bankèrs Barclays B8nk plc 61 London Road North LL)wesI¢ Suffolk NR32 1LT
Wav8n•y Gymnastlcs Club Company Limited by Guarantee Trustees. annual report (Incorporatlng the dlroctors. report) (conthuod) Year ended 31 DeC•mr 2021 Oble¢ll¥e# nd a¢tiviti•8 The mèln objective of the Club is to provKI8 9ymn8sli¢ relgted 8¢tiWi&s in a pUoSe built faulty for al nwmbers of the local communlty lo parliapale. irrespective of their age, abilty. ethnicty. religion. sexu or individual need5, in a safe environment undgr the tuition of qUaIrf Staff. Publ1¢ B•ndll Th& Trustees have pald regard lo the guid)ce issued by the Charity Commission in dedding whot aCtsls the Charty should undortake lo prwdo for its mombers and us¥r$. In kyoviding the sessions wlthln the programme available lo the Club members and the general wblic, the Trustees ¢nSider that they are fijifilling the requIrents exp8Cted of th8ffl to encouragg heaNhl&r Ilfastyles and sdf esl8em thin the local comrnunty and aroa. Achl•v•m•nts •nd p•rforni•n The y8ar has been as drfficult as th8 previous trwglve months as the Covid-19 pandemic continued lo ¢rease in spreading now variants of the wrus a¢ms8 many parts of the w¢rfd. Cthce again the goverrment pul Iht Country into lod(down at the start of the year and we were unable to funGtion at the centre until AprilNay of 2021. The outcome of thi$ situation meant that we off¢rfjd Som8 on lin• 4nd zoom sessions for our members. bul our income was decimatèd. The lurtough 8cheme enabled us lo relain the mafv)rity of our workforce in rè4dines8 for the latter part of the yeai, when we wer8 all8 lo gradualty rgopgn th? centre and offer sessions in a rThJr8 limited way and with sma119r size clas. We agn docid8d lo notify all memb8TS of Ihe dub that we would bo terminatwig all Ihgir nwnthly stsnding order payinents as to conts'nu• collecting thèm, wthout knowing how long Iho lockdown would last ceuld put club into 8 false position regarding Ils finan¢Oal slabilty, 68pecially rf we eventually had to pay them ai back later in the year. Tho dub was ab lo continue to bengfrt from govwiment sthomg$ that wero made ovailable to Small bu$ine$ses. induthng som& rate relief. the furlough swjport system to help ret8in employod Staff and local authrtY fine1)al support on a monthly bas18 throughout thè very unpTedKaable perifyj. N8adla$s lo say th& pand&mt¢ •a$ed off as a vac¢lne become availatrde during the year and from around Awl onwards there was a slow lrftlng of somè of the rules relating lo mixing in groups etc. As thè ye8r unfolded through the summar th& dub wos ablo to in¢rease the $gs$ion$ on offer, but Ihe relum of memb&rs was gradual with many families reluclanl to be too optimistic after such a dTfficult th'me. This Cautious attrtude continued for most of the remaining part of the year. Onty in th8 lat• summer and autumn period was th&re ony mpeti110n$ for our gymnasts and it was wdent that the lack of tralnlng Ilme over I 18s1 iwo years would take 8 while for them lo be back lo their previous standaTds. During this lasl y&ar it has onty been possible lo d•llr a Wmthd amount of cc41tact coaching of gymna8li( skills and competitions have been very few. The centre m8nagar and onè ottw pwt time membor of staff inv(4ved with the dub's financial admlnis1ra0n matter8 have not been full furloughed during the drfru1t wnths. All of the dub's s havo continued to follow health and Safety guidelines regarding socAal distancing, PPE practices in using masks and santhzer for the year. Onty when vims is fiAty under control will we I Ivwards g moro nomal approach.
Wavenay Gymnastics Club Company Llmlted by Guarantee Trusttss. annual report {Incorporadng the dlrectors, report) I¥d1 Year end•d 31 D•cember 2021 Achlèv•m•nts and perforniance (conllftu•dJ During the year of 221. Alex Row. lthe ChJb'$ Centre Manager) has worked hard In tying to stture additional lunding in these drfficult limBS to BUPPQrt the club. The club wsh lo recognlse th9 $UPPOrt we hève had in some of the apicationS for grants from offurs of Bfibsh Gymna$tic, lo¢al members of the mmunty and the local MP. Mr. Peter Aldous wllh local govemmenl grants. The club are now gradually paying back monthly instalments lo Bardays Bank for a £50.0 Bounce Back knan that We we raceived in June 2020, but our financAal posibon remains ts'ghl. The closur8 of Wawney Drive for dovdopmenl work leading to the buildlng of a naw bridge awss Started in tho late wtumn. Thls has compounded the travelling routes lo th¥ gymnas¢ c•nlre and is having a a>nsiderable ryact on retaining members at the dub. Delays In getting lo the sessions, wbth their children, on tsmo ha$ r•sulted in ¢gncellations of m8mbership for somg m9mbers. MeeliivJ8 have been held with the ¢onslructAM company, the local authoiity and our local MP lo improve signage to the céntre and possibly disruption of business fvndlng to 868Ost the dub. We are planning to host intemational gymnastics t•om$ for tr8ining ¢8mp8 leading to the Commonweallh Gam8s in 2022. These grants. gifts And the hian have helped thg dLb with some of the ongoing monthly expen8e8 that cannot be ignored, bul we aro r))nsclous th81 our inc(xne. whith fluctuates considerabty from month to nKJnth contintjes to be insuffi¢ienl lo mèet the full extent of our monthty wnning CA)Sts, so we wll nged lo continue to soak other forms of finan¢i41 support through Sponsorshlp, partnership or donations over the short and madium lem), in order to guaranteelse¢u the long term future of the club. tt is is vrtal that we Ilo not los¥ slght of thè importance of what we offer and can provide for the youngsters of our local communty In promoting healthier lifestyl8s Ihrough physi1 a¢tiMiie$ in our programme. This wll help them with the growing issu8$ around mental heatth as well as social inlegralion and enabling each and every one of them to build up their self esleern and confidence as the world moves forward out of this draadful eJisi$ for overybody and their way oflrfg. All our ¢08¢hing staff and other enwloyees at Club are very committed and keen lo rglum to their rolls and support tt)e ¢ommunity in rebjming to a new normality as soon as possib. The direclorsnrustees of the dub have mèt regularty throughout thè year of 2021 to an and support th 8taff through thes6 diffUlt times. Some of th& m88tings •arfr In the ygar have been via wdeo linklzc4)mlgmailshglephone ¢als and more fomial Committee meelirwJs when pos$lJle. akvays foll9 the recommendèd govemment guidelines. Details of Ihesè meètings have been recorded and circulated following the meetings. Our AGM, nomialty planngd lo be in month of April had lo be delayed until September due to several deadlines not being mel by those responsible lor the club's financial rectirds not being rnathy. E¥Yntualty all was finalised, inchjding the signing off ofthe 8¢¢ount$ frA 2020 at the AGM September. Al nece8sary irftirmation has been apprcpriatoly recordgd in minute$ in ¥¢¢ordance with the recommendations of tha Chority Commi$$ion, and rdev8nt documentation was 08ded to t Compani9$ House and th& CharflSes CoMmi10Th on time. The dub are able to report a signrfi¢anl su¢co$s on various aspe(as of gymnastic8 this year in swle of thè Covi&19 pandemic. Our thkS go lo all those staff and familie¥ who Continue to support the club in any way they can. Those young gymnasts who have competed in theloler months of 2021 gave a good account of their skills in both girls and boys wmpelrflons. S&voral m&dals were won by both genders and in December two boys werè had 8 trial for national 8qU8d$ and both were su$S(U1. One In the Great Britain squad and the other in the England Ninior Squad. Well (ksne lo all and their o)aches. The arrival L)f Mr. Peter Etheringlon and wrfe Jess lo the coaching tsam al tha dub at th8 beginning of 2021 has been invaluable, especialty wilh Pelerfs Tole as DireL#or ol Coathin9. hthfjng been invofved al I100n81 Coachlng level for a years. During the yoar w6 haNY seen a couple of our promislng tyJaL*es leave the club to tske w teacher training posith)ns, with a viw to ¢ar•er ¢hanges. We $h them well.
Waveney Gymnastics Club Company Limited by Guarantee Trustees. annual report (incorporating the dlroctor3' report) (¢oftWnu•d) Year ended 31 December 2021 A¢hlovthMnts and p•rfom)anu (conthu The Club conlnues lo use tho Xero softwarè lo conlrd dub's financial trCtionS aThJ engages the help of Mr. K. Hall with some of thg finer dgtails and ¢heck$. The administration team are finding th8 gocaTdle8s software and card machines for payments beneficial as records and a paper lrnil are more easity collated. The wholg area of grant appllcalions and fijnding straams is lè68 successful than used to be Ihg c4se. largdy duè lo the fact that most awards are granted for new v8nlures rath8r than in goneral tgm)s for exi8tiThJ and continuation proi8¢t¥. h8n¢o the Club's Inten¢Yed fo¢u3 shth.ng towar(Is tryong lo se£Te partnerships and $ponsors in the future. We have very useful conference fwm vthich is available for training purpo$¢$ or business meeting8, and, we are able to offer catering facilities as part of the hira. The catering area of the club has uyadually been building ba¢k up lo a I? fUnl01n9 8ecllon, but parties 8nd thg uso of thi$ area is Still a way short of where wo hope to be in another years tim8. The director5 Wish to a¢knowledge and thank the Cenlrg Manager. the Sectlon Coordinators, Administrators. Coa¢h&$. Volunteers, Cl&8ners and all other staff, panIS Pd indimduals attached to the Club for thelr conlinued support in the gymnastic acti¥itiè8 we offer to members ond users. Thg difectors and man8gement group of Ihe Club meet on a regular basls Ihroughoui the year al about SIX week pattem. with all matters recorded and invariabty the majority of adiijn points addrgS$gd within the r8commgnded time sc. Serious ¢on$¢d8raUon of the overall fees and subscriptions may be necessary lo restore a better balance within the finances. H¢Mever. on a posi11 note. Ihe Club continues to be 8 Successful. growing and developing sports facility within Ih8 local communty and our fvlly inlegraled philosophy to cater for all abilib'es and ¢atggoYi•s is a testamnt lo the o)nlriLMrtlons of the staff. volunlo8r8 and InJStdIrectoTS of the club. Flnntll review nd r•J•rv•s policy The ¢lubs bank balances at the start of the year was around £70,OCrf) ov9rall and with the pandemi¢ Ihroughout the year of 2021 and the restricted swwce that we have been at4e lo prOde. our irKoffle has not been sulfic4ent lo trwild any real reserves for the fijture. Consequenuy, the dub's financial position has just about broken even ty tho end of the ygar {£95.000,' £36,000 of which is from East Suffolk Council 8$ COVID support gf8nt. this also indudes the Bounce Back loan of £50,[, Cltrrenty being repaid in month instalments. Additionally, the dub r1Ved £1,500 from Bridgewater Collego lo $upporl our Apprgnliceships employment., the club was also in r8CèiPt of £2,500 8$ a Communty $tsrt grant for addOnal PPE, health and safèty supplies). As we move Into the beginning of 2022 wo are aware the 'li¥irvJ wage, siluation and the expected pension CntribLFiIOnS required by the club, are ojntinuing lo increase in April, which we wlll haNt to addre$$ through incrgaswig thg fo. not gn Ideal posrflon to be In. The Re¢harge Cafe., which although under the independent company of Waven&y Gymnasti¢$ Entgrprise will estalsh itself more in Ihe coming years. During 2021 thls area of club has been closèd down for just owr haw of th• year, because of the pandemic nstrIn19 and a8 mentioned above, it will be some timè before it Can relum to full operational capa. Th• tr&Jard hAS an obio¢tive lo r&l8in reserves equal to areund £90.000 to meet the tsvo months salary for all staff {£45,0001, whlch fluctuate during thè year. This figure may red le8wing soon as the continuing rise in wages due to govemment 18gislalion 1$ PLtting TrKJrg and pressure on finan¢es. There will be maintenance costs and the nèèd lo keep èquipment In good ¢ondrtion 80 we a ¥e lo deliver our programmgs safely for all members and possible host wsrting teams for weparing to compete in th8 Commonwealth Games in 2022. The requirements lo santtise. Pe 8quipm8nt rogulady and dean Surfaces as well as ensure that PPE 1$ feadily available is another cost which needs tsdoring into the equ81kn for the foreseeat49 fuiuro. until wg I0j dlfferenL
Waveney Gymnastics Club Cornpany Limited by Guarantse Trustees. annual report (IncOryratOn9 the dlrector8' report) (condnu•d) Year endgd 31 December 2021 Flnanclal revlow and 1 poIIcy (conthu•d) It is the Trustees Intenti(m lo malntain funds $ufficient to I1 the doy to day requirements of the Club and set participants. fees at appropriate Igvds Io achieve this. The loryq4erm polw is that th8 Club vhll sgek lo build reserves for Mnveslmenl in the Chjb's faulities and equipment as this becomes nocessary. During tho year the Club saw an increase in revenues lo £487.396 12020.. £408.217), wth this came an crease In ¢08ts incurr. r&StIng in the Club rerdIng g dgfidt of £16,278 Q020.. deficit of £40.771). Thg Club had free reseTrrns of £28,860 after the Bounc£ Back108n12020: £23.592) ot the year end ¥thich represfjnts amund 0.75 months of expenditure. In addition the CILs had resldctsd re$eNe8 8mounting lo £749,837 (2020.. £772,330). The Club has fixad assgls amountin9 to £818,845 {2020." £840.391} rgpr8s8nl8d in the mgin by the gym buikjlng. Investsn•nt pollcy Thg investm8nl pollcy of the Club remalns lo nwimise income by placiw funds into interest bearfng accvunls al the beBI available interest levg1$. Th8 Club maintains and lea¢86 any frttings. equlpment or identified n88ds to 8nsur• th& Club continues to deliver gymnastics related activitsos in a safe, controil8d and manageable way w6thin the Club's financAal constraints. All underpinned by tho Club's safeguardlng and venerable policy guidelines. Recent ev8nls have required the Trustee8 to reiler41è thè Club's requir8ment for all fund movèments lo b¢ fom)ally approved by the Board of Trusle8s prior to any such Iransxtion$ taking place. The expenditure spent for a wariety of essenllal Improvemenls and unavoidable wage rises during th8 year has created a major roduclion in the different contingenq accounts and major initiativas and researd) for Sponsorshigrant opportunrtie5 will be ess•ntial for Ihg next fow y•ars, together with severe ojtbacks on any furlher trainlng facilty expenditure. Pay pollcy for k•y manag•m•nt p•vsonnel Th• remuneration for key management personnel is sel by the Chaim)an of the charity, Mr J Pawsey, following discussion with the Board of Trust88s. Pay ralgs are benchmarked against average salary rates in the iTrJuslry and lo¢al ara, togother with other relevant factors such a5 govemm8nt legislati¢)n on 'li¥lng wage, which ha8 a knock on effect on more senior employees who are $al8ried. Thrwh the annual perfomiance rem5 of the 8taff the tr*)aTd try whenever possible and ifjustifiable affordable lo rellect the Indkndualts ¢onlribJtions to the dub through some element of remuneration. Han8 for luiure perlod• Th8 Chjb plans lo continue lo provide the best semce pOssle for thè rest. safety and development of the sport gf 9ymna$li¢s wilhin the ¢ommunty. The Club intends lo deliver th• hlgh8sI standard of èxpoctBtion for all ¢uslom&r8, Yllhin the capabilities and caparAty of the facility and staff. A fuuy integrated provisK)n is a key factor, which underpins the Club's philosophy. During the year of 2021 the club eonllnued the producloon of some on line and zoom se$$ion$ to keep In touch with our members this 15 an area that we arg Intendlng lo dev91op further and we may work in tsjnjunction with oth8r organi$ation$ in th8 fuiure. We are Investigating building partnerships wilh k1 ¢af• homes to offer streamed ¥ide(4zoom sessions for their residents.
Waveney Gymnastics Club Company Limited by Guarantee Tru5tees' annual roport (Incorporatlng the dlrectors, rnport) Year ended 31 December 2021 Struthr•. gov•rnanG• and manag•ment Gov•rnlng docum•nt The Charity was incorpjraled 8$ a CoMpY ted by Guarantee on 10 October 2005 and was reglslered as a Charity on 9 January 2006. The company was establi$hgd under a MpAnorandum of Association vthich established the obMs and powèrs of the tharilable company and is govemed undor its ¢1$ of Assoaalion. In the event of the company being wound up members and required to contritrArte an amount not exceeding £1. This asFCt of tho organisation is kept under rewiew. Appolnlm•nt and Mcrnltmgnt of Trust Where a vacancy exists for a Trustee, Ihg rgmaining Truslaes seek to appoint an indi¥idual whh skills and experience which wrfl be of benofit lo the Club. Any rw TN$tse will b8 chocked tlwoughly rogarding thoir suitability and record. priortojoining the board. A new directorltrustee has been appointed to the dub In Ms. T. Blard. which is mentioned aarfiw in this report. bul we $151 need to recruit othets. Tru•ts• Inductlon and tralnlng The club conlinues to work toward$ enlisting new Trtlee$ lo the board. but thi8 Is taking som8 time to hieve. Any new Trustse will bg provided with the latest InfoatiOn about tho club's position and the 8sso¢iatèd d¢)¢uments relaftg to the operats'onal procodur•s bging followg11. Several of the important Issues relating to small businesse5 and Charities can be reMfrw and downloaded through the fdriOUS websites and a new Trust would bg allocaled a buddy to understand the complexibes ofthe organisation. Ory•nlsallon The Club's Tru$leo$ and Head Coa¢hlCenlre Managèr meet ev&ry six 10 8ight waeks as a controlling management group. All meetings are minuted and information pa$$gd btheen one another the day lo day operalions are overseen by Ihg Hgad Coachlcenlre Manager underpinned by the senior managem8nt te ith koy feodback lo the board at the managernenl meetings and coach8s Ihrough the H&8d Coa¢hlCentrè Manager when required. Any issues relating to wdfare matters are deam with by a small group of trained welfar• officers, which Indudes some named directors togethgr wilh trained employees from the admlnistr81ion team andlor Head Coach. All mattgrs of this nature and acaden18 are récorded fovmaly aThJ held on file o)nfidenlally, with OLrtsid8 agerKie$ bwng kept In the picture, if necèssary. AJI matters of confid8ntiality regarding employees, the finances of the dub, grievances, et¢ will b& dtrall wth by the Iruslees through eNher extraordinary meetings or personal contact vmth another knowledgeable trustse. The Head Coach will bo invofv8d kapt inforff*d al the dl8uetiM of the trustses.
Waveney Gymnastics Club Company Llmlted by Guarante6 Trustees. annual report (Incorporatlng the dlr•ctors' report) (tothts Year ended 31 Docember 2021 Structurn. gov•min¢• and manaym•ntf¢ottV Rlsk manag•mont The Twstees regularty TleW the ma iisk$ which Charfty faces, In parllcular regardlng Health and Safety, and requir¥monts of the Child Protection Act. Thi8 proces8 is ongoing is regularty ramewgd. Regular risk assfj4rnont c4wcks we made by member8 of t Club's staff and the infomiation is re¢49d in the appropriate documenlatitin book. Al matters r8lating to H&S ¢hwks arg expgcled to done on a weekly basi5 fcf recording purposes. Other eqUiprrnt dwks and general hyG4ene and safety matters are monitored on a daity basis by th0 vilh deanlng and retakIng rosp0nslbilrts. Voluntsor• Thg Club Is forbjnate to have the support of a body of several unpabj volunteers who do slerting with fvnd Taising actlbe$, wme ¢hIng and support lor those who may ha in¢th¥idual1oarr¥ng or physical diffiNieS. All aro required to work wthSn the safeguarding policy of th8 dub. Appoinlm•Tht of Ind•p•nd•nt Ex•mln•r Th8 appoIntrn1 of Mark Proctor FCA DChA of Lovewell Blake LLP as the Club's Ind8p•nd8nt Examiner was approved at the Annual General Meeting held in September 2021 and 1$ ¢Jo¢umenled ac¢ordingty. 11 is antirApated that ts samg prowlur wll bo voled at the Cb.5 Annual General Meeling for thg wrront Sm1 c¢mpany provtslons Thi5 report has been propared tsking advantsge of the small companle8' exawion of 8ect)n 415A of the Compan1*$ A¢i 2008. The trustees, annu81 rem linMrporaling the directors. report) was approved on . .. signed on behalf of the board of trust5 ty.. 107L and Mr J Pawsey Trusts?
Waveney GymnastlC8 Club Company Llmlted by Guarantee Independent examlnetrs report to the trustees of Waveney Gymnastlcs Club Year end•d 31 D•Comr 2021 I rfjport to the ch Irustoes on my oxaminallon of the financlal statements of the company for thè year ended 31 De¢ernber2021 which comprise the statement Lrf finanrAal acbMb8s (Including incom& and expendrture a¢count), balance $et and the relaled notes. Re•poMlblltlleJ and ba•1• of report As the charivs trustees of the company land also its directors for th& purpjses ol company lawl you aro responsible for the preparation of the fin8ncio18lalemenl$ in accwdanc¢ with the fequiremen18 of the Comp¥nie$ Act 20061kn• 2CQ6 Ad'l. Hang satisfied myself that the financial slalements of the company aro nol required to be audilod undfrr Part 16 of the 2006 Act and ar8 eligible for indèpgndgnt oxominalion, I wport in rasp&¢t of my examinat of your companls financial slalemenls as carried out under section 145 of the Charitses Act 2011 I'lhe 2011 Act,). In carying out my examination I hav8 followod tha Dir•Gtion$ gtven by tho Charity Cov4ni$$K¥Tr under section 14515)Ib} of th• 2011 Act Ind•p•nd•nl •xamln•f• ststfjmenl Since the companvs gro88 Income exceeded £250,C(O your examiner musl be a member of a body li51 in sèdion 145 of the 2011 Act. I can confirn Ihat l am qualified to undertake the examk)oti¢)n because l am a m&mber of the Institute of Chartered Accountants in England and Wales. I have compl8t8d my oxaminats'on. I confinn th81 no matt9rs have CO lo my ottthion in connecllon wmh the examlnalion giwng me cause to believe that in any material Spect.. accounting rgwds Wfj nol kept in resp1 of th• company as r•quired by s•dion 388 of the 2006 Art or t finaal statomgnts do not acrd with those rfjcords,. or the finarla1 slatem8n15 do not cOmY with the acwunting r8quir8rnents of s8Ction 396 of th• 2C#J6 Act other Ihan any requiremenl that Ihe a¢¢ounl$ give a 'true arKI fgirf ¥i8w vthlch Is tv)t matter considered 86 Part of an indepentlenl examination,. or tho firwicial stalgments have not been preparod In accordance with tho methods and prlnciple8 of the Statement of Recommended Practice fer accounting and reporting by charities applicabl8 to charities preparing their accounts in accordance wrth ths Finan¢i Repoiting Standard opplicable in the UK and Republic of Ireland IFRS 102}. I have rn concems and have come acro$s no other matters in conngcti with the gxaminolion to vthich attonlion should be drawn in this raport In order lo enable a proper urthrstandlng of accounts to read)ed. Proctor FCA DCI Ind8pendgnt Examingr Lov8wdl Blakè LLP Chartered accotants Bankside 300 Peai*man Way Broadland Business Pa )rwi¢h NR7 QLB 1510612022
Waveney Gymnastlcs Club Company Limited by Guarantee Ststsment of financlal activities (including income and expendlture account) Year ended 31 December 2021 2021 Restrict8d funds Tolal fvnds Totsl I1$ 2020 Unrestricted fund8 Incom• and •ndowm•nts Donalions and legaCS Charilable acti711&$ Other trading activilles Inveslment income Olher income 45.650 326,030 45,650 326,030 8.040 51.551 216.741 12.736 25 127.184 107,668 487,396 107.868 Total incom• 487.396 408.217 Expendlturè Raising funds Costs of raising funds Charitsble actlvilies 10 11 12,284) (478,8971 (481,181) (2,284) 1501.390) 1503,874) {6,614) 1442.374) {448,988) (22,4931 (22.4931 Total •xp•ndIrn M•t •xpendliwe and n•t moven*nt In fund• 8,215 <22.4931 {16,278) {40.771) R•conclllallon of fundB Total fiJn¢J5 brought forward Totsl fvnd$ ur11 forwayd 100,357 772,330 872,687 913.458 1CIS,572 749.837 856.409 872.887 The statement of financial activitigs indudos all gains and k)$898 re¢ogni8ed in the year. All incom 8nd expendiiure dedve from continuing act1198. Tho not•$ on pag•s 12 10 22 form part ofth•s• flnan¢l•l •tstsm¢nts.
Waveney Gymnastics Club Company Llmlted by Guarantee Balance sheet 31 Decembgr 2021 2021 2020 Fix•d ass•ts Tanglble fixed assets Inv8strnents 16 17 818,845 840,391 818,846 840.392 Curr•nt asuts Stock Debtors Cash at bank and in hand 9.408 8,0)1 94,851 10.886 17,45S 19 112.260 98,005 Cr•dltor•: Amwnts f•lllng du• wlthln onè 20 138.86n (20,710) N•t cuff•nt as•ts 73,393 892,239 77.295 Totsl a¥••ts l•s• curr•nt hbllll•s 917.087 Cr1101•. Amoun18 falllng du• ft•r more thin on• y••r 21 (35.8301 856.409 {45.000) 872,687 Fund# of the charlty Reslri¢ted funds Unreslricted fvnds 749.837 ll,$72 856,409 772,330 100.357 Total charfty fun 872,687 For the year eThJin9 31 Decemb&r 2021 the d)arlty was enlilled to exempb'on from audit under section 477 of com Act 20L% relating lo small companies. Oir8Ctors' respon$iknlitsos.' The m8mb8rs havg not required the ¢c4npany to obtain an audit of it5 financial 5tat8ments for the year In question in pKcordance with Bection 476.. Tho dirèctors acknowledge their re5ponsibiliti8s for MplyIng with the requlrements of the Act with respect lo a¢untIng records and the preparation of financial stalwngnts. Th8s8 financ4al $tatemerils hav• prepared in a¢¢ordancè wilh tho proNisions applicable lo mpanI&s 8ubjeca to the small companies. regime. Thè balance sheet conlinug$ on th¥ followin9 page. Thè notes on pag•s 12 to 22 forn) part ofthw fln•n¢l•l stat•m•nts. -io-
Waveney Gymnastlcs Club Company Llmlted by Guarnntee Balance shoet(co•Jthu•rfl 31 December 2021 These financial statements wgrg approved by the board of tru$t8es and authorised for i88ue on ALlaflA.W and are signed on behalfof th8 board by". IAr N Jack Trusts•- Mr J Pawsey Trustee Company reG4stmUon number 05588094 Th• not•J on 9• 12 to 22 fomi part ofthe•t financl•l •tst•mgnl¥. 11
Waveney Gymnastlcs Club Company Llmlted by Guarantee Notss to the flnanclal statements Year ended 31 December 2021 G•Mrnl InfornMUon Thg Lartty 1$ a public bengfrt entity and a prlvate company linitad by guarantè8, registered England and Wales and 8 registered charity in England and Wales. The address of thg rrylstered office is 104 Notley Road. Lowesloft, Suffo. NR33 OUG. stat•m•nt of ¢onM)Ilon The Charity ¢onsthules a public benefft entity as defin8d by FRS 102. Th8 financial stalomgnts have been prepared In a¢wdance wilh Arx¥Junting and Reporti'ng by charit$.. Statement of Rgcommendgd Pro¢& applicable lo charities preparing their a¢Unts in accordance wilh Iho Financial Reporllng Standard applicab in thè UK and R8public of Ireland issued in Octobgr 2019. th• Financial Reporting Standard applifble in th8 United Kingdom and Republic of IrelarHI (FRS 102). the chariti Act 2011, the Companies Act 21)06 UK Generamy Accepted AcCJnting Pradi¢e. A¢¢oun11ng poli¢le• B••h of pv•yr•tlon The finala1 statements have been prepared on the historical cost basis. Tho ffinancial slalfjmfjnts are prepared in Sterlny, which is the lurKtional currency of Iho entity. ¢3olng ¢on¢om The accounts ha b8en prepared on the gjing concem b88is and the Club believes that no material uncertainties exist. The Twstees have Considered the level of funds held and the expected incom• and expendilure for the nèxt 12 months from authorising these financial statements. The budg8t•d incoffle and expgndilure 1$ suffi¢ignt with thg ifrvol of resetves for the Twsl lo be able to coniinuè as going concem. The trustees ha consid8r•d the impact of Covi&19 in maknng this assessmenL Comolldatlon Tho charity 1$ ncil r8quir•d lo prepare consolidated a¢counl$ In accordance wilh the Charities Act 2011. Fund acGOUnting Unreslrict8d funds are availabl• for usa at th• discretion of th8 tru$l•¥$ lo furth•r any of the ¢haritrf$ PUfPO8es. Restricted lunds are subjecled to restrictions on their expendrture dedared by Ihè donor or which hav8 been raisod by the dBnty for Pa¢18r purpo$e8. The costs of ral8lng and administering such fvnds ¥re ¢haiged against the $perAfic fund. The aim and use of oath roslricted fund is set out in lh8 notes lo the accounts. Inc¢Mhè All income Is induded in the Statement of Financ4al Actwilies when entitlement has passod lo th• harity, it is probabl8 that the economic benefits associated vmh the transaction will lo the chaiity and the amount can be reliabty measured. The following specific poliCS are applied to parliwlar Categorie3 of income.. 12-
Waveney Gymnastlcs Club Company Llmlted by Guarantee Notss to the flnanclal stat•m•ntS (¢•nttftu•d) Year ended 31 December 2021 Accountlng poll¢l•• (¢Mlinwti) - InCe ffom th)nalions aNJ fundraislng bs re¢ogni$ed on receipL - Incoffle fft) chaiitable a¢tiwb'e$ is a¢uted for when eamed. Gov•rnm•nt grnnt• Govemmenl grants are recognised using th• xxrual ftvjdel. Under Ihe accrual model, gowmmenl grants relating to revenue ale reo)gni$ed on a sy$lomali¢ basis over the perfod8 in whlch the dub reco9ni88s Ihg related ¢osts for whSch the grant is intendgd to Compensate. Grants that aro recèivable as CoMn$stiOn for expenses or losses already incurred or for the purpose of giving immediate finanrAal SUPF4)rt lo thet ontty with no ftrture related costs are recognised in income in Ihe p8riod in whieh il becomes receNable. Exp•ndiluv• Expenditure is recognisad on attruals basis as a liabrfity is Incrred. Exp8ndilur8 indudes any VAT which cannot be ffij1 ItVered. and 1$ ¢1os¥ified under headings of the slalement of finarKial activtiie8 to which it relates.. expondilure on (*8ritable activibe8 includes all costs incurrad by a ch8rrty in the defivery of its a¢tivib"es and seMcÈs. All costs. including g9veman costs. are alocated tetsveen the expenditure categori8s of the Statement of Financial Actlwlies on a basls lo refiect the use of resource$. Oyr4tlng l•a• Lease Inrne Ss CognISed in irthme or expanditure on a slraight h.ne basis over the lease lemi. The aggregats cost of lease incentives ar8 rg¢ogni$ed as a reductbn to income over the lease temi on a 5traighl-line basis. Costs, in¢luding depreciation, inujrred in eaming thg1ga$e in¢omg arg recognised s an expense. Any inltial direct incurred in negotiats'n9 and arr8nging Ihe operating lease are ¥dded lo th& ¢arrying amount of the lease and recogni$ed as an expense over the lease lenn on th8 same basis as the lease irwne. Tanglbl• ass•ts Tan9itlo as$81$ ar8 irltially recorded at cost, and subsequently slatsd al o)sl less any ac0JNlatad depreclatlon and impairment kjssos. D•pr•ciation Depreciation is cakulaled $0 as lo wrile off the cost or Valuation of a$set. less rts residual valuè, over the useful e¢oFC life of that asset as folknws: Leasehold property Fixtures and ffttings Motor vehides Gym equipmènt 2% stiaight Ilne 10% & 25% straight line 25% redu¢ing balance 10% 5tr81ghl line -13.
Waveney Gymnastic8 Club Company Llmlted by Guarantée Notss to the financial statsm•nts (conJnu•dJ Yaar end•d 31 D•¢ember 2021 Accounting pollcl•s (¢ts Unlisted equty inv8strMnts are ini1Sally recorded 81 cost. and subsequenlly o$Ured al fair valu•. W fair value cannot rellaY mèasured, assets are measured at cost less impaimenl. Stod( 18 vJed at thè Ichvèr of cost and not roalisable v8lue. Fln•n¢iil intrum•nts A financial asset or a financial liability 1$ Tecognis•d onty when the gntity bgcornes a party to the ¢ontradual pSlon8 of the instrument. B85ic fingnaal irtslrumonts 4r• initially recognised at the amount r1vabl• or payable induding any r8laled transadion co81s, untess the arrangemenl constitutes 8 financlng transaction. where it is ¢ognised at the present value of Ihe fvture payments discounted al a market rale of interest for a similar debt in$lrument. Current assets and current liabilitlg$ 8re Subsequenlly measured at the cash or oth8r ¢on$lderallon pxpecled to be paid or recetwd and not diScoted. Dgfined ¢ontrlbutlon plam Conlribullons to defined conlribulion plans are r8cognis8d 8$ an expense in the wiod in whith the related service is provhled. Prepald Qonlributions are rec(¥Jnised as an asset to the exienl that the Prepayment will kad to a rodu¢tKn in future payments or a cash refund. Llmltsd by gu•r•nts• The chaiity is a company limited by guarantse. Tho members of the o)mp8ny are thè Iru8tegs nam8d on page 1. In the event of the charity bèing wound up, the liability in reypect of the guarant Is fimrt•d £1 par membgr of the charity. Donallom and hgcl•• Unre$triclad Total Fund• Unre8trlcted Total Funds Funds 2021 Funds 2020 Donatlo Donations and gifts Donations und•r Gift old from W8¥eney Gymnastics EntenseS Limited 3.521 3.521 458 458 Grnnts Grants Cow&19 grants 500 47.072 soo 47,072 40,110 40,110 45.650 51,551 51,551 Included in donations and legaci 18 Government grants of £41,61012020". £47.0721. 14-
Waveney Gymnastics Club Company Llmlted by Guarant•• Notes to th• financlal statements (eonUnu•dJ Year ended 31 December 2021 Ch•rttable actlvllles Unrestdctèd Tot•1 Funds Unreslrf¢ted Ttlal Fund$ Funds 20 Funds 2020 Gymnastk ser4ice8 326.030 326.030 216.741 216,741 Othèr Iradlng actlvftl Unre8lri¢ted Totsl Fund• Unrestricted Total Funds Funds 2011 Funds 2020 Income from the Sale of merchandlse Rent from Cafe Advèrlising 4.140 3.900 4.140 3.900 7.901 7.901 4.800 35 8.040 12.736 12,736 Inve¥tment Income Unrostricted Totsl Funds Unrgstri¢tgd Total Funds Funds 2021 Funds 2020 Interest receivablè 25 2S Other In¢om• Unrestricted T¢)t•l Fund• Unr•strict8d Tolal Funds FLmds 2021 Funds 2020 CJRS- govemment Income 107.668 107,668 127.164 127.164 10. Costs of rn18lng fvnd* Lknresliicted Total Fund• Unrnstricteil Totol Fund$ Fund$ 2021 Futvjs 2020 Cost of oood8 801d 2.284 2.284 6,614 6.614 15-
Waveney Gymnastlcs Club Company Llmfted by Guaranteo Notes to the flnanclal statsm•nts Year ended 31 December 2021 11. ExpondI on ch•rfi•bl• a¢tlvltl•• Unrestricted Funds Reslricted Totsl Funds Funds 2021 Dir8Ct staff costs Other direct costs DepratIOn Govemancè costs 345,929 111.884 16,848 4,236 345,929 22.493 39,341 478,897 22,493 501.yao Unrestrictéd Funds Restric18d T¢)tal Funds Funds 2020 Direct staff cnsts Oiher direct costs Depreci811on Govemance costs 302.60$ 92,349 20.980 3,947 419,8B1 302,605 92,349 43.473 3,947 22,493 22,493 442,374 Anal1 of govern¢ cots: Tot•1 Funds Total Funds 2021 2ff20 Independent examination f8es- currnnl y•ar A¢counlan¢y fee$ Interest payable 2,940 2.952 370 625 1.128 4236 3,947 12. N•t expendlt Net exp8nditur8 is stat¥d aftw chargingl{c¥edlling1'. 2021 2020 Depwiation OftsngIb fmd a88ets Operating lease costs 39.341 43,473 2.120 13. Indendent examlnatlon fe• 2Q21 2020 Fees paya0 to tha ind8P8nd•nl aMinr for.. Independent ex¥minalion of the finandal statement8 Other financial services 2.760 192 2,940 2,952
Waveney Gymnastlcs Club Company Llmlted by Guaranta• Notes to the flnanclal statements (c•ftUnu•d) Year ended 31 December 2021 l& Staff co¥ts Tho1¢)tal staff $ts and 8mployeg boneffts for the roportlng pwlod are an41ysed as follows.. 2021 2020 W8ges and salaries Social security costs Employgr contribulion$ to pension plans 343.638 9.014 4,170 3&S.822 304,030 3,524 2,857 310.411 L6$8.' recharged lo Waven8y Gymnastic5 Entwprisfj Ltd (10,8931 345,929 17.8061 302.605 The renwneralion of key mènagemenl perstmnel. Inc4udiig Sen staff, was £36.73212020'. £36.596). The aver89• hèad count of •m0Y8•S during th& y•arwas 37 (2020.. 39). No empbyee received employee benefits of )8 Ihan £60,¢XKI during tha year121720.' NID. 15. Trust•• r•mun•rntlon and •xp•n••* None of the tsuslees lor any pgrson¥ r))nng¢ted wlth them) ony romungralion or expen$e$ during eith8rthe current or pr8viou$ year. 16. Tangibh fix•d •M•ts Leas8hohJ Fixtures and property flttlngs Motor Gym vehlcks equlpmnt Cost At 1 January 2021 Addltions 1.085.261 35.221 4.463 39,684 15.484 285,959 1,421.925 13,332 17.795 299,291 At 31 D•c•mb•r 2021 1,085,261 15.484 1.439.720 D•pr•ciation Al 1 January 2021 Charye for the year At 31 D•¢•mb•r 2021 323.361 21.705 28,388 4,455 6,774 2,177 8,951 223.011 11,¢y)4 234,015 581.534 39,341 620,B75 345,¢M6 32,843 Carrying amount At 31 DK•mber 2021 740,195 6,841 6,833 8,533 85.278 818,845 At 31 December 2020 761.900 8.710 e2.948 840,391 17-
Waveney Gymnastics Club Company Llmlted by Guarantee Notes to the flnanclal statements (¢Mthu•rfJ Year ended 31 December 2021 17. InTMltments S10 in group nd•rtaklng• Co#t or valuatlon At 1 Jnury 2021 and 31 D•e•mb•r 2021 lmvlmnt At 1 January 2021 and 31 December 2021 Carrylng amount At 31 D•¢embor 2021 Al 31 December 2020 All Snveslmgnl$ Shn above are held at valuatitin. Investments represents 1% share eapital of Waveney Gymnastics Entense Limited, incorporated in England. Wavanoy Gymnastics Entèrprise Limited was incorporated on 28 January 2019 aThJ i>Jmm8ncgd Ira(thng from February 2019. The rosulis for th• company for the peiiod are.. 2021 2020 Tumover Oihgr incorne Expendtture Net I1088yproffl 21,449 4,721 134,9361 18.7861 20,454 10.257 (29,0191 Payment undèr glft aid (4581 Ngt as5 (5,857) 2.909 18. Stocks 2021 2020 Goods held for r85alg 9,408 10,886 Stock represants nwchandise Items held for res. 18-
Waveney Gymnastlcs Club Company Llmlted by Guarantee Notes to the financlal statements (eMtinu•dJ Year •nded 31 December 2021 19. D•btorn 2021 2020 Trade debtors Afflounls owed by group undertakrys Prapaymants and aecru8d incom• 1.151 15,312 17.455 8,lJJ1 20. Crndltorn: Amounts falllng du• wlthln on• y••r 2021 2020 Bank loans aThJ overdrafts Trad8 credrtors Amounts owod to group LdertakIng8 Accruals and deferred income Soo8i security and Otr taxes Otr creditors 10,OCQ 2.861 2,300 2,934 10.810 9.962 5,000 1.127 2,760 7,152 4,671 38,867 20,710 21. Cr•dttor¥: Amounts fllng du• •ftsr morn th4n on• y•¥r 2021 2020 Bank loan$ and overdrats 35,830 45,ClX) Durfng July 2020 Waveney Gymnastics Club accessed the Cor(a7n Business InterTUPtion Lo8n scheme and drew down a loan of £50,OOD. this is repayab19 Qvgr S years from Ihg term of the first anniversary of th loan, intfjrnst 1$ ¢harged al 2.50% fixed rate. 22. P•Mlon• and oth•r po•t rntir•mwrt b•n•llts Dofinod ¢onlrll>utlon plan¥ The amount recognl$8d in irwne or oxpendlture as an expense in Telalicm to d&fin8d ¢¢5butiOn F4an$ was £4,170 12020.. £2,857). 19.
Waveney Gymnastics Club Company Llmlted by Guarantee Notes to the flnanclal statam•nts (conNnu•d) Y•ar ended 31 December 2021 23. Anaty•h of ch*rllable lund Unmtrfct•d funds At 1 January 2021 31 D•wnbgr 2021 Income Expenditure General fuNIs 100.357 487.3 1481.1811 1C6.5n 31 D8c8mbgr 2020 1 January 2020 Intsjrno ExndItuTe Genfrral funds 118.635 408,217 (426.495) 100,357 R••trlctod fvnd• At 1 January 2021 31 D•¢•mb•r 2021 Income Expenditure Building fund 8ritish Gymnastics Equipment fund Suffolk Foundation Disability facilibes fund 781,970 {21,7051 740.265 1,278 450 16381 {1501 772.330 122.493) 749,837 At 1 JaThJary 2020 31 Decèrnber 2020 Income Expenditurè Building fund Brthsh GymnaslScs Equipment fvnd Suffolk Foundation Disability facilities fund 783,675 121,705) 781.970 1,916 16381 11501 1.278 794,823 {22.493) 772,330 -20-
Waveney Gymnastlc8 Club Company Llmlted by Guarantse Not to the flnanclal statements (con6 Year ended 31 December 2021 23. Anatysls of charltAbl• (¢•ttthu•dJ Trnmtsrn between funds Tran8feTB between fijnds repre$enl$ the uso of restdcted funds to rdSe flxed assets which no longer havg a reslridion Ihom. R••trlct•d fvnd* The Building Fund consists of funds from the Naliongl Lottery and Local Authorty grant received lo cmslruct and equip a gymnasium hall. The BrSh GymnastScs Fund Is to proylde lund8 lo finan¢8 the 5t of coaching and equipmgnl. The Equipment Fund rglales to fvnd$ donal8d to the Club to fanCe some new equlpmenl. The Suffolk Found8llM Fund Is lo prridè fundww to fmance the cost of ngw equipmont. The Dtsabilty fa¢ilrfies fvnd rglated lo funds donated to the dub toward8 the sts 01 thè inglallalion of facilities for uso by Ih08e wilh dISlIleS. 24. Anal# of n•t a$Mts b•tw••n futhd• Unrestricted funds Reslricted Tolal Fund• funds 2021 Tangible fixed as5 Inve$tmgnts Nel ¢urrenl assets Long term liabilities Tl,711 741,134 818,845 64.690 {35.830) 106,572 8,703 73,393 (35,8301 856.409 749,837 Unre81ricted funds Restricted T¢)tal Funds fun(ts 2020 Tangible fixed assets Investments Net current assets Long tem liabilibes 76.764 763.627 840.391 68,592 145.000} 100.357 8,703 77,295 145,000) 872,687 772.330 -21
Waveney Gymnastics Club Company Limit•d by Guarantee Notes to the financial statements Itondnwd) Year ended 31 December 2021 26. Oporatlng1oa•• ¢ommlkn•nts A* l•Mor The total fithjre minimum lease p8yfflents re¢eNable under nOnancelIable opernting lèases are as follows.. 2021 2020 Not laloT than 1 year Later than 1 year arnl N)t later than 5 years 2,552 5,536 2,016 S,052 26. R•l•ted p4rt1•• During the year the Charty received income from Waveney Gymnaslic8 Entwprises Limited totalling £14.793 12020.. £12.6C61. of whlch £3,900 12020.. £4.8001 related to rental of the cafè and £10.893 12020.. £7.8061 relalg1I to amounts re¢harggd by the Charity. Of these amounts £Nil12020'. £1.151) 18 outstwKling at tho year end, IncILlIng glft ald due of £NII P020: £4581. At Ihfj year ond Ih8re is an amount due to Waveney Gymnaslics Ent•rpri$o$ tsmitfjd of £2,30012020'. £Nil) inchjded in credttors. Catering saThic8s amounliThJ to £2,937 12020.. £4.1131 werè provided to the Charity by Wova GYmnas¢S Enterprises Limited. of which £Nil12020'. £Nil) is outstsnding 81 the ye8r end. During the year the Chority T¢9d incomg of £Nil (2020.. £Nil) from Mr A Gregnfield. 8 thrector. for rental of the café. An amtyjnt of £Nil12020: £4001 is outstanding at the year end. During tho yo01 a donatton of £NS112020'. £1.) was recNBiwd from J¢)hn Pawsey, Chalr of the Chaiity. -22-