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2022-03-31-accounts

Charity registration number 1115595

Company registration number 05800086 (England and Wales)

ABILITY BOW

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

ABILITY BOW

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S E Currie F M Baron N Helfet S Lanigan - Chair A Pamphilon C Desai (Resigned 07/10/21) B Kullar (Resigned 14/04/21) H Vernon (Resigned 10/08/22) Secretary V Kent Charity number 1115595 Company number 05800086 Registered office St. Paul's Church St. Stephen's Road London E3 5JL Independent examiner Samir Shah FCA Ramon Lee Ltd 93 Tabernacle Street London EC2A 4BA

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CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6 - 7
Balance sheet 8
Notes to the financial statements 9 - 22

ABILITY BOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019)

Objectives and activities

The object, for which the charity was established, as stated in the Memorandum and Articles of Association, is: a. The promotion of health through the pursuit of healthy recreation; b. The provision of a gym and fitness classes that are open to everyone, particularly people on low incomes, people with disabilities and those who would not otherwise use or have access to a gym. We achieve our objectives by continuing to support people living with disabilities and delivering accessible and affordable exercise classes in our gym and in a range of community settings.

Structure, governance and management

Ability Bow is registered as a registered charity and company limited by guarantee not having a share capital. It is governed by Articles of Association. The company was incorporated on 28th April 2006 and registered as a charity on 26th July 2006. Charity registration number 1115595, company number 05800066. The inclusion of volunteers is an essential and valued aspect of the work, and enhances the service delivery and a range of wider supportive roles such as administration and events.

Recruitment and appointment of trustees

In recruiting and appointing new trustees, the Board considers the mix of skills and experience required, for example experience in the education sector, business skills, legal expertise, financial knowledge, personal involvement in Ability Bow’s work.

The Board has been reviewing its mix of skills and is looking to recruits to fill gaps. The minimum number of trustees is two; there is no maximum number.

Trustee induction and training

The Board has prepared a trustees induction pack to ensure that all new trustees quickly become familiar with the charity and its work, and with the responsibilities of their role. The trustees will undertake periodic reviews of their training needs.

Organisation

The Board meets at least four times a year and individual trustees do additional work between Board meetings by taking interest in particular areas of the Board’s work. These include activities and programmes, health and safety, communications and marketing, finance, fundraising, personnel, policies and procedures and premises.

The Chief Executive, who is appointed by the trustees, manages the day-to-day operations of the charity under delegated powers approved by the trustees.

The Chief Executive has a small team of permanent and sessional staff, and the charity is supported by volunteers.

Related parties

During the year there were no related party transactions.

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TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Achievements & Performance

Key achievements this year include:

In this year we have greatly valued the contribution of our volunteers who provide support at all levels of the organisation.

Our gym members and the Board of Trustees greatly appreciate the skills and dedication that staff and volunteers bring to the role. The work of our team makes the gym a truly friendly, welcoming and inclusive place to be.

We valued the commitment and support of our Board of Trustees. Chirag Desai stepped down from the Board in October after several years as Trustee.

Statistics

This year we supported 127 people with a combination of online and in-person exercise, by providing one-to-one exercise sessions on Zoom and social distanced sessions in the Ability Bow gym. Our drop in members also returned to our gym for pre-booked sessions. In total we provided 3,487 appointments and raised £12,642.40 in gym fees. Our exercise instructional videos were accessed by 87 people.

Our team continued to publish a weekly news bulletin to share gym and local news, and articles and reviews written by gym members. The bulletins were shared with 110 gym members and then more widely on our networks and social media, to enable people to keep connected remotely.

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TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Future Developments

Plans for diversifying fundraising include maintaining a focus on local authority commissioning and introducing new fundraising events.

Further to a strategic review our year ahead is focused on the following identified strategic aims:

Which will also involve these cross-cutting objectives:

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

FINANCIAL REVIEW Results for the Year

In this financial year there were some successes in securing new statutory contracts and donations from individuals, and we started to regrow our income from gym fees and service delivery.

The Statement of Financial Activities shows a deficit of total incoming resources compared with expended resources of £25,691 (2021 surplus (£93,136)). Expenses increased £20,415 to £271,843. The deficit on expenditure includes £14,251 related to change in the amount of provision required for service charges and cleaning expenses.

Principal funding sources

The main funding sources for the charity are charitable trust funding, income from statutory contracts, and fundraised income from sporting and sponsorship events that supporters undertake on our behalf.

Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Investment powers and policy

Under the Memorandum and Articles of Association, the Charity has the power to invest in any way the Trustees wish. The policy of the Trustees is to invest any surplus funds on bank deposit.

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TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Reserves policy

The Charity has a reserves policy that has a short-term minimum aim to maintain sufficient funds for the company to operate at its current level over a three-month period. The medium-term aim of the reserves policy is to maintain sufficient funds to enable the expansion of current services and the long-term aim is to maintain sufficient funds to extend the Charity’s services.

The charity's reserves at the end of the year stood at a surplus of £43,773. Of these reserves, £13,861 is represented by restricted funds, and none are invested in the Charity's fixed assets. At the balance sheet date the free reserves totalled £29,912.

Compared to the average expenditure of the Charity during year, the free reserves held at the balance sheet date

fall below the amount stated in our short-term minimum reserves policy.

The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Statement of trustees' responsibilities

The trustees, who are also the directors of Ability Bow for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The trustees' report was approved by the Board of Trustees.

..............................

S E Currie Trustee 27.01.2023 Dated: .........................

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABILITY BOW

I report to the trustees on my examination of the financial statements of Ability Bow (the charitable company) for the year ended 31 March 2022.

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our work, for this report, or for the opinions we have formed.

Responsibilities and basis of report

As the trustees of the charitable 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).

Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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

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 that in any material respect:

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 financial statements to be reached.

Samir Shah FCA Ramon Lee Ltd

93 Tabernacle Street London EC2A 4BA

30.01.2023 Dated: .........................

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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Grants and donations
2
91,947
5,000
Charitable activities
3
106,604
19,765
Other trading activities- fundraising
4
22,836
-
Total income
221,387
24,765
Expenditure on:
Raising funds
5
24,427
-
Charitable activities
Fitness, health and wellbeing
6
233,926
13,490
Total charitable expenditure
233,926
13,490
Total expenditure
258,353
13,490
Net (expenditure)/income for the year/
Net movement in funds
(36,966)
11,275
Fund balances at 1 April 2021
66,878
2,586
Fund balances at 31 March 2022
29,912
13,861		 Total
2022
£
96,947
126,369
22,836
246,152
24,427
247,416
247,416
271,843
(25,691)
69,464
43,773		 Total
2021
£
279,510
61,140
10,961
351,611
6,948
244,480
244,480
251,428
100,183
(30,719)
69,464

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Grants and donations
2
203,990
75,520
Charitable activities
3
51,743
9,397
Other trading activities- fundraising
4
10,961
-
Total income
266,694
84,917
Expenditure on:
Raising funds
5
6,948
-
Charitable activities
Fitness, health and wellbeing
6
156,456
88,024
Total charitable expenditure
156,456
88,024
Total expenditure
163,404
88,024
Net (expenditure)/income for the year/
Net movement in funds
103,290
(3,107)
Fund balances at 1 April 2020
(36,412)
5,693
Fund balances at 31 March 2021
66,878
2,586		 Total
2021
£
279,510
61,140
10,961
351,611
6,948
244,480
244,480
251,428
100,183
(30,719)
69,464

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BALANCE SHEET

AS AT 31 MARCH 2022

2022
Notes
£
Fixed assets
Tangible assets
11
Current assets
Debtors
12
31,682
Cash at bank and in hand
32,143
63,825
Creditors: amounts falling due within
one year
13
(20,052)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2021
£
£
-
12,583
82,189
94,772
(25,991)
43,773
43,773
13,861
29,912
43,773		 £
683
68,781
69,464
2,586
66,878
69,464

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

27.01.2023

The accounts were approved by the Trustees on .........................

..............................

S E Currie Trustee

Company Registration No. 05800086

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Ability Bow is a private company limited by guarantee incorporated in England and Wales. The registered office is St. Paul's Church, St. Stephen's Road, London, E3 5JL.

1.1 Accounting convention

The accounts have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Historical cost convention

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The income of the charity fell during the year, and the 2023 income will be effected by the loss of furlough grants. The charity has taken steps to reduce expenditure.

The free reserves at the balance sheet date totalled £29,912.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.5 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Fundraising sponsorships for the London Marathon, Ride London and other events that are in essence a donation are recognised as they are received.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Charity is not recognised in the main body of the financial accounts but detail is contained in the Trustees report.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. No such services were received during the year.

Income from charitable activities received by way of revenue grants and donations are credited to restricted incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.

Grants and donations of general nature which are not conditional on delivering certain levels of service are included as part of Grants and Donations as shown under note 2. Performance related grants and donations which have conditions for a specific outcome are include as Income from Charitable Activities as shown in Note 3.

Membership fees are credited to income in the year in which they are received, as in practice this represents a receivable basis.

Income from commissioned community classes is recognised when the classes are delivered.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise the costs of operating fundraising events and attracting grants and donations no support cost are allocated to this heading as the estimated usage of such overheads is not significant.

Expenditure on charitable activities includes the costs of providing the activities of the gym, including the costs of trainers, and their associated support costs.

Support and governance cost represents those items not falling into any other heading including the costs of renting the gym premises and office overheads and the cost of operating the charity and complying with charity regulations.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Support costs are all allocated to the single charitable activity of the provision of fitness, health and wellbeing classes.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Donated assets are included at the appropriate fixed asset heading with a corresponding sum shown as a donation in kind. Donated assets are shown at fair value calculated as the cost to the donor.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements over 6 years Fixtures, fittings & equipment 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 Grants and donations

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Grants and donations
91,947
5,000
Grants and donations
receivable for core
activities
The Peter Stebbing
Memorial Charity
-
-
The National Lottery
Community Fund
-
-
City of London
41,102
-
City Bridge Trust
-
-
CAF Resiliance Fund
-
-
CVC Foundation
-
-
CJRS- furlough
21,742
-
Individual donation
20,000
-
Wakefield and Tetley
-
5,000
Individuals and Trusts
under £5,000
9,103
-
91,947
5,000		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
96,947
203,990
75,520
-
-
5,000
-
-
9,910
41,102
-
40,135
-
8,450
19,475
-
29,755
-
-
63,712
-
21,742
89,675
-
20,000
-
-
5,000
-
-
-
9,103
12,398
1,000
96,947
203,990
75,520		 Total
2021
£
279,510
5,000
9,910
40,135
27,925
29,755
63,712
89,675
-
-
13,398
279,510

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3 Charitable activities

Gym fees
Commissioned community classes
Performance related grants
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March 2021
Unrestricted funds
Restricted funds
Performance related grants
City & Hackney NHS
Active London Funders
LB Tower Hamlets Positive Steps
LB Tower Hamlets CCG
The London Community Foundation
London City Airport Community Fund
4
Other trading activities- fundraising
Fundraising events		 2022
£
17,946
632
107,791
126,369
106,604
19,765
126,369
2022
£
39,026
8,490
11,275
49,000
-
-
107,791
2022
£
22,836		 2021
£
9,727
-
51,413
61,140
51,743
9,397
61,140
2021
£
39,026
-
1,667
-
7,730
2,990
51,413
2021
£
10,961

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5
6		 Raising funds
2022
2021
£
£
Fundraising and publicity
Staging fundraising events
24,427
6,948
Charitable activities
Fitness,
health and
wellbeing
Fitness,
health and
wellbeing
2022
2021
£
£
Staff costs
161,821
180,144
Depreciation and impairment
683
3,791
Freelance staff costs
13,238
1,541
Training
597
-
Consumables
179
4,399
Printing-class leaflets
419
108
Insurance, licences and rentals
3,022
2,960
179,959
192,943
Share of support costs (see note 8)
64,657
49,730
Share of governance costs (see note 8)
2,800
1,807
247,416
244,480
Analysis by fund
Unrestricted funds
233,926
156,456
Restricted funds
13,490
88,024
247,416
244,480

7 Description of charitable activities

Fitness, health and wellbeing

Fitness, health and wellbeing - supporting people with disabilities or long-term health conditions to exercise.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Support costs

Support costs
Support costs
Governance
costs
£
£
Staff costs
12,290
-
Premises
45,724
-
Communications cost
2,937
-
Professional expenses
1,508
-
Other expenses
2,198
-
Independent examiners fees
-
1,980
Meeting costs
-
820
64,657
2,800
Analysed between
Charitable activities
64,657
2,800		 2022
£
12,290
45,724
2,937
1,508
2,198
1,980
820
67,457
67,457		 2021
£
19,390
22,960
3,179
832
3,369
1,800
7
51,537
51,537

Governance costs includes payments to the independent examiners of £1,980 (2021- £1,800) for examination fees.

Premises expenses includes backdated cleaning and service charge costs.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits or expenses from the charitable company during the year (2021: none).

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Employees

Number of employees

The average monthly number employees, including part time staff, during the year was:

Direct staff
Administration staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
6
1
7
2022
£
160,817
10,599
2,695
174,111		 2021
Number
6
1
7
2021
£
183,012
12,341
4,181
199,534

No member of staff earned over £60,000 in the year.

Remuneration of key management personnel

The remuneration of key management personnel, including employer's pension and national insurance contributions, is as follows.

2022 2021
£ £
Aggregate compensation including employer's pension contributions 61,900 66,417

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

11
Tangible fixed assets
Leasehold
improvements
Fixtures,
fittings &
equipment
£
£
Cost
At 1 April 2021
4,700
120,703
At 31 March 2022
4,700
120,703
Depreciation and impairment
At 1 April 2021
4,700
120,020
Depreciation charged in the year
-
683
At 31 March 2022
4,700
120,703
Carrying amount
At 31 March 2022
-
-
At 31 March 2021
-
683
12
Debtors
2022
Amounts falling due within one year:
£
Other debtors
23,012
Prepayments and accrued income
8,670
31,682
13
Creditors: amounts falling due within one year
2022
Notes
£
Other taxation and social security
3,104
Deferred income
14
-
Trade creditors
396
Accruals
16,552
20,052		 Total
£
125,403
125,403
124,720
683
125,403
-
683
2021
£
-
12,583
12,583
2021
£
3,932
8,027
1,157
12,875
25,991

ABILITY BOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

14 Deferred income

2022 2021
£ £
Arising from deferred grants - 8,027

During the year the charitable company recognised £88,026 (2021: £39,026) from specific government grants and £21,742 (2021:£89,675) in furlough grants. There were no outstanding commitments relating to these funds which remained unfulfilled at the balance sheet date.

All deferred income outstanding at 31st March 2021 was recognised within the following year.

15 Retirement benefit schemes

Defined contribution schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The scheme is an auto enrolment scheme and provided by NEST pensions.

The charge to income and expenditure in respect of defined contribution schemes was £2,695 (2021 - £4,181)

ABILITY BOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 April 2020 resources expended
1 April 2021		 resources expended 31 March
£ £ £ £ £ £ 2022
£
London Community Fund - 7,730 (7,730) - - - -
Equipment and maintenance 2,586 - - 2,586 - - 2,586
Peter Stebbing Memorial Charity - 5,000 (5,000) - - - -
National Lottery Community Fund - 9,910 (9,910) - - - -
Sylivia Waddilove Foundation - 1,000 (1,000) - - - -
Friends of Jose Barretta 3,108 - (3,108) - - - -
London Community Response Fund - 40,135 (40,135) - - - -
City Bridge Trust - 19,475 (19,475) - 11,275 - 11,275
Active Londoners - - - - 8,490 (8,490) -
Wakefield & Tetley Trust - 1,667 (1,667) - 5,000 (5,000) -
5,693 84,917 (88,025) 2,586 24,765 (13,490) 13,861

ABILITY BOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Restricted funds

(Continued)

London Community Fund - To provide online classes Equipment and maintenance - Donations for the purchase of gym equipment and there ongoing maintenance. Peter Stebbing Memorial Charity - To provide emergency Covid 19 funding National Lottery Community Fund - To provide emergency Covid 19 funding Sylivia Waddilove Foundation - To provide emergency Covid 19 funding Friends of Jose Barretta - The ongoing use of a FES bike. London Community Response Fund - To provide online classes

City Bridge Trust - 2021 funds received for a specific salaried post, later converted to core funding until March 2022. 2022 restricted funds have been received for the Positive Steps project which is anticipated to be used in the 22/23 year. Active Londoners - To support the Keep Moving project Wakefiled & Tetley Trust - Funds received towards the gym rent.

ABILITY BOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Tangible assets
-
-
Current assets/(liabilities)
29,912
13,861
29,912
13,861		 Total
Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
-
683
-
43,773
66,195
2,586
43,773
66,878
2,586		 Total
2021
£
683
68,781
69,464

18 Operating lease commitments

The charity occupies the gym under a 21 year lease commencing on 1/12/2004. The lease can be terminated at 6 months notice. The commitment for 6 months at the prevailing rent is £8,500.

19 Related party transactions

There were no disclosable related party transactions for the year ended 31st March 2022 (2021 - none).

20 Liability of members

The charity is constituted as a company limited by guarantee and does not have a share capital divided by shares. In the event that the charity is dissolved the liability of members is limited to £10 per member.