**Company number: 06501296**
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
**(A company limited by guarantee)**
## **CHARITY COMMISSION REGISTERED NO. 1124674**
## **FINANCIAL STATEMENTS**
**for the year ended**
**31 July 2022**
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Financial Statements**
## **for the year ended 31 July 2022**
|**Contents**|**Pages**|
|---|---|
|Company Information|1|
|Report of the trustees|2 to 5|
|Independent examiner's report|6|
|Statement of Financial Activity|7|
|Balance Sheet|8|
|Statement of Cash Flows|9|
|Notes to the Financial Statements|10 to 19|
**HUNTINGDON GYMNASTICS CLUB LIMITED Company Information**
## **Company number: 06501296**
## **Board of Trustees / Company Directors**
Mr T Sharpington Mr S Davison Mrs E Brook Mrs Z McGowen Mrs N Scarfe Mrs S Scotcher Mrs S Scott (appointed 1 March 2022)
## **Other positions**
Club Manager - Mr Adam Scott Office Manager - Mrs Sue Besant
## **Charity Number**
1124674
## **Company Number**
06501296
## **Registered office**
Mayfield Road Huntingdon Cambridgeshire PE29 1UL
## **Independent Examiner**
Ken Maggs BA, FCA Moore Thompson Bank House Broad Street Spalding Lincs PE11 1TB
Page: 1
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Report of the trustees**
**for the year ended 31 July 2022**
The trustees (who are represented by 'the Board' throughout this report), who are also directors of the charity for the purposes of the Companies act, have pleasure in submitting their annual report together with the independently examined financial statements of the Charitable Company for the year ended 31 July 2022.
The trustees have adopted the provisions of 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) issued in 2019 in preparing the annual report and financial statements of the charity.
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity was registered in April 2008 and is governed by a Memorandum and Articles of Association.
The trustees, who are also directors for the purpose of company law, and who served during the year are detailed on the charity information on page 1.
## **Recruitment and appointment of new trustees**
New trustees are recruited by local advertising and by recommendation. Club members vote on the trustee applications at the Annual General Meeting to give a total of eight trustees on the Board. Three further positions are co-opted by the Board according to specific skills required. The Chair is required to keep a balance of skills and experience on the Board and to maintain a balance of parents and non-parents.
New trustees are encouraged to familiarise themselves with charity laws, the financial reports of the Club and to attend Club staff meeting and other events.
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up of the charity.
## **Organisational Structure**
The Board manages the business of the charity and is responsible for overseeing the strategic, financial and legal direction of the charity. The Board is responsible for ensuring that all recommended financial controls have been considered and introduced and meets at least six times per year. Trustees hold a portfolio for their particular responsibility and are available for advice in support of various aspects of the business and welfare of the charity. The Board is elected at the Annual General Meeting of the charity.
The Board has nominated a Management Sub-committee to manage the Charity’s activities that consists of the Office Manager and the Club Manager. The Management Sub-committee meets on a monthly basis and reports to each Board meeting including a “balanced scorecard” which includes a safety report, capacity and waiting list review, finance report and parent feedback.
## **Related Parties**
Transactions during the period with trustees and any other related parties are detailed in note 15 of these financial statements.
## **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 any error.
Page: 2
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Report of the trustees (continued)**
## **for the year ended 31 July 2022**
## **Objectives and activities and Public Benefit**
The main objective of the charity is the promotion of community participation in healthy recreation for the benefits of the inhabitant of Huntingdon and the surrounding area by the provision of facilities for the sport of gymnastics and any other charitable activities.
The trustees are highly conscious of the need to provide the best possible public benefit in line with Charity Commission guidance and consider that the charity does this.
The charity has undertaken the following activities described in the sections below during the year to implement these objects in line with our current development path. These activities also provides support for the public benefits that the charity provides.
## **Overview**
The Charity has been impacted by the global Covid-19 pandemic (“Covid”) which forced the charity to close its premises for a number of periods following government guidance in the previous financial year.
At the start of September 2021, the club returned to pre-pandemic level of participation throughout all coaching sessions. Club memberships remained close to capacity throughout this year. The focus of the year was to return to previous levels of high quality coaching throughout all of the club sessions. The pandemic had a longstanding impact on staff development as British Gymnastics had ceased the delivery of coach education across the country.
## **Provision of community participation in health recreation**
The Charity’s participation programme continued to be popular with high levels of engagement from the local community.
The Charity continues to provide gymnastics provision for a wide variety of age groups and levels including toddler’s sessions, pre-school classes, participation classes, teenage specific classes and adult sessions, together with ladies’ specific sessions.
The Charity also continues to work closely with adult disability groups and special educational needs providers, as well as engaging with home education The Charity also continues to work closely with adult disability groups and special educational needs providers, as well as engaging with home education groups.
## **Provision of facilities for the sport of gymnastics**
The Charity continues to maintain the building and specialist gymnastics equipment to a high standard.
The Charity is committed to provide the best equipment possible for all users of the facilities. During the next few years, the Charity will explore funding to invest in upgrading gymnastic equipment and the facilities. The first stage of this programme has seen the replacement of the sprung floor in the Sharpington Hall supported by grant funding from a local business.
## **Adaptation to changing Work force**
The Charity recognises the demand placed on its employees, especially its coaching staff, due to the majority of its activities taking place in the evenings and weekends. To address these challenges, the Charity actively considers part time and job share opportunities when recruiting new employees.
It is hoped that these initiatives will continue to place Huntingdon as a centre of good practice nationally and encourage high quality coaching employees to join the Charity to support the appetite for gymnastics in the local area.
Page: 3
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Report of the trustees (continued)**
## **for the year ended 31 July 2022**
## **Adaptation to changing Work force (continued)**
As a response to the nationwide shortage of qualified gymnastics coaches, Huntingdon Gymnastics Club established its Young Trainee Coach programme, for 14 to 16 year olds, to encourage them to take their first steps in gymnastics coaching. This practice has continued despite the lockdowns though a challenge has been accessing the relevant qualifications in a period of upheaval.
The Charity has plans to recruit another 8 people to these posts in 2022/23.
An apprenticeship programme continues within the Charity, with Matilda Manser being employed and currently training with FitUK.
## **Providing a full service for elite and aspiring elite performers**
During this year the club has returned to prominence on the national and international stage with Jake Jarman becoming a double British Champion on Floor and Vault, second place on Pommel and a Bronze Medal in the all-around competition. This performance secured Jake’s selection to represent England at the Commonwealth Games. At the 2022 Commonwealth Games, Jake became the first Englishman to win an incredible four Gold medals at the same games.
Jake’s performances were backed up by younger member’s of the club’s Men’s Artistic performance gymnasts competing well at British Championship and National Grades.
The investment in the Women’s Artistic gymnasts Performance programme is beginning to show success with strong performances at Regional and County competitions.
## **Volunteers**
The Charity is always grateful for the support of its volunteers who play important roles across the organisation including the Trustees and volunteers who support coaching, welfare and fundraising.
## **Financial Review**
The financial performance of the charity for the year ended 31 July 2022 is detailed on pages 7 to 19 of these financial statements and the Trustees are pleased with the performance during the year especially given the impact of Covid.
## **Reserves policy**
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between 3 and 6 months of expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities whilst consideration is given to a way in which additional funds may be raised.
## **Plans for the future**
At the date of this financial review, the Charity expects to be able to continue its activities in 2022/2023 and the Trustees will then continue the refresh of the five year strategic plan which has been put on hold due to the pandemic.
The Trustees will continue to look at outside financial support for equipment replacement capital funding to support enhancement of the gym and the surrounding building.
Page: 4
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Report of the trustees (continued)**
**for the year ended 31 July 2022**
## **Trustee's responsibilities statement**
The trustees are responsible for preparing the trustees report and the financial statements in accordance with applicable laws and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsibly for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Going concern**
The Trustees are of the opinion that the Charity will continue to be a going concern.
It has been a very challenging time for the Charity which has worked to support and retain the coaching and administrative teams whilst servicing overheads, with income falling during periods of closure. The Charity has relied upon the support from the United Kingdom Government’s Job Retention Scheme and its financial reserves to survive these periods of closure.
The Trustees are of the opinion that the Charity will continue to be a going concern and look forward to reopening so everyone can meet and train together.
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on **19 April 2023** and signed on behalf of the board by:
## **Mrs Z McGowen**
Director
Page: 5
## **Independent Examiner's Report to the Trustees of HUNTINGDON GYMNASTICS CLUB LIMITED**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2022 which are set out on pages 10 to 19.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsbile for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants of England and Wales (ICAEW).
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:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records, or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**K.J. Maggs B.A., F.C.A.** Chartered Accountants Spalding
Date: **20 April 2023**
Page: 6
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Statement of Financial Activity (including income and expenditure account)**
## **for the year ended 31 July 2022**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
funds funds
Notes £ £ £ £
Income and endowments from:
Donations and legacies 2 7,854 34,484 42,338 165,583
Investments 3 2,579 - 2,579 270
Charitable activities 4 729,152 - 729,152 305,449
Other 763 763 430
Total income 740,348 34,484 774,832 471,732
Expenditure on:
Charitable activities 5 819,316 32,755 852,071 576,437
Bursaries granted to gymnasts and coaches 5 90 - 90 -
Interest payable 5 663 - 663 1,154
Total expenditure 820,069 32,755 852,824 577,591
Net (expenditure) / income (79,721) 1,729 (77,992) (105,859)
Transfers between funds - - - -
Net movement in funds (79,721) 1,729 (77,992) (105,859)
Fund balances brought forward 12 256,194 1,065,899 1,322,093 1,427,952
Fund balances carried forward 12 176,473 1,067,628 1,244,101 1,322,093
**----- End of picture text -----**
All income and expenditure derive from continuing activities.
The statement of financial activity includes all gains and losses recognised during the year.
The notes on pages 10 to 19 form part of these financial statements
Page: 7
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Balance Sheet**
## **at 31 July 2022**
**----- Start of picture text -----**
2022 2021
Note £ £ £ £
Fixed assets
Tangible fixed assets 8 1,134,172 1,132,091
Current assets
Debtors 9 22,451 8,906
Cash at bank and in hand 136,659 221,978
159,110 230,884
Creditors:
Amounts falling due within one year 10 (47,920) (32,058)
Net current assets 111,190 198,826
Total assets less current liabilities 1,245,362 1,330,917
Creditors:
Amounts falling due after more than one year 11 (1,261) (8,824)
Net assets 1,244,101 1,322,093
Income funds
Unrestricted funds 12 176,473 256,194
Restricted funds 12 1,067,628 1,065,899
1,244,101 1,322,093
**----- End of picture text -----**
The trustees are satisfied that the charity is entitled to exemption from audit of the financial statements for the year under Section 477 of the Companies Act 2006 (the Act) relating to small companies and that the members have not required the company to obtain an audit in accordance with Section 476.
The trustees acknowledge their responsbilities for:
- (i) ensuring that the charity keeps proper accounting records which comply with section 386 of the Act,
- (ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 396, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standards applicable in the UK and Republic of Ireland'.
These financial statements were approved by the Trustees on **19 April 2023** and are signed on their behalf.
## **Mrs Z McGowen**
Director
Company Number:- 06501296
The notes on pages 10 to 19 form part of these financial statements
Page: 8
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Statement of Cash Flows**
## **for the year ended 31 July 2022**
**----- Start of picture text -----**
2022 2021
Note £ £ £ £
Cash flow from operating activities
Deficit for the year (77,992) (105,859)
Adjustments for:
Interest received 3 (79) (11)
Depreciation of tangible fixed assets 5 44,646 51,891
Profit on disposal of fixed assets (4,700) -
Movements in working capital:
(Increase) / decrease in debtors (13,545) 45,706
(Increase) / decrease in creditors 8,299 (259)
(43,371) (8,532)
Cash flows from investing activities
Receipts from sale of tangible fixed assets
Purchase of tangible fixed assets (46,727) -
Proceeds from sales of tangible fixed assets 4,700 -
Interest received 3 79 11
(41,948) 11
Net increase in cash and cash equivalents (85,319) (8,521)
Cash and cash equivalents at beginning of year 221,978 230,499
Cash and cash equivalents at end of year 136,659 221,978
Cash and cash equivalents consists of:
Cash at bank and in hand 136,659 221,978
**----- End of picture text -----**
Page: 9
**HUNTINGDON GYMNASTICS CLUB LIMITED**
**Notes to the Financial Statements**
**for the year ended 31 July 2022**
## **1. Accounting policies**
Huntingdon Gymnastics Club is company limited by guarantee registered in England and Wales. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office of the charity is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities is the promotion of community participation in healthy recreation for the benefits of the inhabitants of Huntingdon and the surrounding area by the provision of facilities for the sport of
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Going Concern**
The financial statements have been prepared on a going concern basis as the trustees / directors believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Taxation**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following judgements and estimates have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial
t t t Estimation of useful life - The useful economic life used to depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management’s estimate of the period over which economic benefit will be derived from the asset.
Estimation of residual value - The residual value of an asset is the estimated fair value of that asset at the end of its useful economic life and therefore is also dependent upon the estimation of that life span. Historically, changes to the useful economic life and residual values have not had a material impact on the depreciation amount charged to the profit and loss.
Cut off - The only estimation applied by the directors was in the consideration of cut-off where an estimation of the costs relating to the relevant period were applied when relating to a different period.
Details for these items are included within the accounting policies below.
Page: 10
**HUNTINGDON GYMNASTICS CLUB LIMITED**
**for the year ended 31 July 2022**
## **Notes to the Financial Statements (continued)**
## **1. Accounting policies (continued)**
## **Income recognition**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
## **Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be realised and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Charitable activities include the costs of the activities defined by the charity's aims for the benefit of the persons sited in the charity objects. Costs of charitable activities includes the direct costs of the activities and depreciation on related assets. Where such assets relate to more than one functional cost category, they have been allocated on either an estimate time or floor space basis, as appropriate.
Support costs include the costs which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and program or project work.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Page: 11
**HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
**for the year ended 31 July 2022**
## **1. Accounting policies (continued)**
## **Depreciation**
Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates generally applicable are:
Leasehold property Improvements - 2% on cost Equipment 25% on cost
## **Fixed assets**
Fixed assets are included at cost, less accumulated depreciation.
## **Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Pension costs**
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities.
## **Operating lease agreements**
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
## **Restricted funds**
Restricted funds can only be used in accordance with specific restrictions and the furtherance of the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which complies with these criteria is identified to the fund.
## **Unrestricted funds**
Unrestricted funds are available for use at the discretion of the trustees in sustenance of the objectives of the charity and which have not been designated for other purposes.
## **Designated funds**
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
## **Loans and borrowings**
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Page: 12
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
## **2. Income from donations and legacies**
|**2022**
Donations
Grants
**_Grant income breakdown_**
Institutional
National Government
**2021**
Donations
Grants
**_Grant income breakdown_**
Institutional
Local Government
National Government
**Income from investments**
**(All Unrestricted)**
Rental income
Interest receivable
**Income from charitable activities**
**(All Unrestricted)**
Gym Fees
Private Hire and Parties
Other sales|**Unrestricted**
**funds**
**£**
5,364
2,490
7,854
-
2,490
2,490
**Unrestricted**
**funds**
**£**
922
164,411
165,333
9,000
34,057
121,354
164,411|**Restricted**
**funds**
**£**
-
34,484
34,484
31,484
3,000
34,484
**Restricted**
**funds**
**£**
-
250
250
250
-
-
250
**2022**
**Total**
**£**
2,500
79
2,579
**2022**
**Total**
**£**
649,745
31,265
48,142
729,152|**Total**
**£**
5,364
36,974
42,338
31,484
5,490
36,974
**Total**
**£**
922
164,661
165,583
9,250
34,057
121,354
164,661
2021
Total
£
259
11
270
2021
Total
£
280,612
-
24,837
305,449|
|---|---|---|---|
## **3. Income from investments**
## **4. Income from charitable activities**
Page: 13
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
## **5. Expenditure on charitable activities**
|General gym activities
Activities undertaken directly
Support costs:
Other operating costs
Staff costs
Consultancy fees
Depreciation
Profit on disposal of fixed assets
Bursaries granted to gymnasts and coaches
Support costs
Accountancy and payroll
Independent examination fees
Bank charges
Interest payable
Other costs
**2022**|**Unrestricted**
**£**
574,023
106,225
84,832
4,522
15,691
(4,700)
90
10,499
1,720
1,988
663
24,516
820,069|**Restricted**
**£**
-
800
3,000
-
28,955
-
-
-
-
-
-
-
32,755|**Total**
**£**
574,023
107,025
87,832
4,522
44,646
(4,700)
90
10,499
1,720
1,988
663
24,516
852,824|
|---|---|---|---|
Costs directly attributable to a specific project have been analysed to that project as an exact amount.
The remaining costs which are not specific are considered allocated costs of charitable activities and have been apportioned to the relevant activity based on a considered proportion of costs relating to that activity.
|General gym activities
Activities undertaken directly
Support costs:
Other operating costs
Staff costs
Depreciation
Support costs
Accountancy and payroll
Independent examination fees
Bank charges
Interest payable
Other costs
**2021**|**Unrestricted**
**£**
378,594
46,697
66,777
25,903
10,897
1,772
3,466
1,154
16,343
551,603|**Restricted**
**£**
-
-
-
25,988
-
-
-
-
-
25,988|**Total**
**£**
378,594
46,697
66,777
51,891
10,897
1,772
3,466
1,154
16,343
577,591|
|---|---|---|---|
## **6. Board of Trustees remuneration**
No trustee (or any persons connected with them) received any remuneration or expenses either directly or indirectly.
Page: 14
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
|**7.**
**Employee emoluments**
Wages and salaries
Social security costs
Defined contribution pension costs
**Number of employees**
Coaching staff
Administration staff|**2022**
**Total**
**£**
592,553
46,431
14,025
653,009
34
4
38|2021
Total
£
403,862
26,739
9,451
440,052
26
3
29|
|---|---|---|
There were no employees who received emoluments exceeding £60,000 in either the current or prior
## **8. Tangible fixed assets**
|**Cost**
At 31 July 2021
Additions
Disposals
At 31 July 2022
**Depreciation**
At 31 July 2021
Charge for the year
Disposals
At 31 July 2022
**Net book value**
At 31 July 2022
At 30 July 2021|**Leasehold**
**Property**
**£**
1,299,397
-
-
1,299,397
181,862
26,006
-
207,868
1,091,529
1,117,535|**£**
393,873
46,727
(67,389)
373,211
379,317
18,640
(67,389)
330,568
42,643
14,556
**Equipment**|**Total**
**£**
1,693,270
46,727
(67,389)
1,672,608
561,179
44,646
(67,389)
538,436
1,134,172
1,132,091|
|---|---|---|---|
## **9. Debtors**
|Trade debtors
Other debtors
Prepayments and accrued income|**2022**
**Total**
**£**
12,726
417
9,308
22,451|2021
Total
£
8,037
-
869
8,906|
|---|---|---|
Page: 15
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
## **10. Creditors: Amounts falling due within one year**
**----- Start of picture text -----**
||||
|---|---|---|
|2022|2021|
|Total|Total|
|£|£|
|Trade Creditors|6,551|3,871|
|Loan from Huntingdon District Council|7,563|7,563|
|Taxes and social security costs|878|2,351|
|Other creditors - Wages and Pension Contributions|2,747|2,308|
|Accruals|4,864|5,630|
|Deferred Income|25,317|10,335|
|47,920|32,058|
**----- End of picture text -----**
The loan is secured by a charge over the leasehold land on which the Huntingdon Gymnastics Club Limited premises are constructed. The land is owned by Huntingdon Town Council.
Deferred income represents income received in advance for classes or events that take place in the following period.
## **11. Creditors: Amounts falling due after one year**
**----- Start of picture text -----**
||||
|---|---|---|
|2022|2021|
|Total|Total|
|£|£|
|Loan from Huntingdon District Council|1,261|8,824|
**----- End of picture text -----**
The loan is secured by a charge over the leasehold land on which the Huntingdon Gymnastics Club Limited premises are constructed. The land is owned by Huntingdon Town Council.
Page: 16
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
|**12. Funds**
**2022**
**Unrestricted funds**
General Fund
**Restricted funds**
Building costs
Sharpington Hall Floor
Donation for travel
Apprenticeship Grants
Young staff training
UK Power Networks|**At 1 Aug**
**2021**
**£**
256,194
1,061,640
-
-
-
4,009
250
1,065,899
1,322,093|**£**
740,348
-
26,587
800
3,000
4,097
-
34,484
774,832
**Incoming**
**resources**|**£**
(820,069)
(26,006)
(2,949)
(800)
(3,000)
-
-
(32,755)
(852,824)
**Outgoing**
**resources**|**£**
-
-
-
-
-
-
-
-
-
**Transfers**|**At 31 Jul**
**2022**
**£**
176,473
1,035,634
23,638
-
-
8,106
250
1,067,628
1,244,101|
|---|---|---|---|---|---|
Young staff training is to help an initiative aimed at gymnasts aged between 14 and 16. It funds a trainee coach programme which will enable them to become qualified coaches in the future.
The funds are constituted as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Creditors: Amounts falling due after one year|**Unrestricted**
**£**
74,900
22,451
128,303
(47,920)
(1,261)
176,473|**Restricted**
**£**
1,059,272
-
8,356
-
-
1,067,628
**2022**|Total
**£**
1,134,172
22,451
136,659
(47,920)
(1,261)
1,244,101|
|---|---|---|---|
Page: 17
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
**Notes to the Financial Statements (continued) for the year ended 31 July 2022**
## **12. Funds continued…**
|**2021**
**At 1 Aug**
**2020**
**£**
**Unrestricted funds**
General
336,315
**Restricted funds**
Building costs
1,087,628
Young staff training
4,009
UK Power Networks
-
1,091,637
1,427,952
The funds are constituted as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Creditors: Amounts falling due after one year|**£**
471,482
-
-
250
250
471,732
**Incoming**
**resources**|**£**
(551,603)
(25,988)
-
-
(25,988)
(577,591)
**Unrestricted**
**£**
70,451
8,906
217,719
(32,058)
(8,824)
256,194
**Outgoing**
**resources**|**£**
-
-
-
-
-
-
**Restricted**
**£**
1,061,640
-
4,259
-
-
1,065,899
**Transfers**
**2021**|**At 31 Jul**
**2021**
**£**
256,194
1,061,640
4,009
250
1,065,899
1,322,093
Total
**£**
1,132,091
8,906
221,978
(32,058)
(8,824)
1,322,093|
|---|---|---|---|---|
## **13. Restricted funds descriptions**
**Building costs** - This fund is regarding the original funding for the building of the 2012 hall and contains funding for the refurbishment of the toilets and changing rooms.
**Sharpington Hall Floor** - Grants received towards the replacement of Sharpington Hall floor.
**Donations for travel -** donations received to subsidise costs relating to travel.
**Apprenticeship Grants - is funding provided by the Department of Education** to encourage the appointment and training of apprentices. Funding is below the expected costs but is intended to assist such providers.
**Young staff training -** a grant to help fund the trainee coach initiative, targeting gymnasts between 14 and 16.
**UK Power Networks** - Funds doanted for the purpose of acquiring new equipment.
Page: 18
## **HUNTINGDON GYMNASTICS CLUB LIMITED**
## **Notes to the Financial Statements (continued)**
## **for the year ended 31 July 2022**
## **14. Operating leases**
At 31 July, the charity had total future minimum lease payments under non-cancellable operating leases as set out below:
|Not more than one year
Later than one and not more than five years|**2022**
**Total**
**£**
1,300
2,817|2021
Total
£
1,300
4,169|
|---|---|---|
## **15. Controlling party**
The charity is controlled by the Board of Trustees and no individuals can or do exert control.
## **16. Statement of financial activities - fund comparatives**
|**Income and endowments from:**
Donations and legacies
Investments
Charitable activities
Other
**Expenditure on:**
Expenditure on charitable activities:
Charitable activities
Interest payable
**Net expenditure**|**Unrestricted**
**funds**
**£**
165,333
270
305,449
430
471,482
550,449
1,154
551,603
**(80,121)**|**Restricted**
**funds**
**£**
250
-
-
-
250
25,988
-
25,988
**(25,738)**
**2021**|**Total**
**£**
165,583
270
305,449
430
471,732
576,437
1,154
577,591
**(105,859)**|
|---|---|---|---|
Page: 19