2020-08-31-accounts

Registered number: 06325972 Charity number: 1124906

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

CONTENTS

	Page
Reference and Administrative Details of the Company, its Trustees and Advisers	1
Trustees' Report	2 - 4
Independent Examiner's Report	5 - 6
Statement of Financial Activities	7
Balance Sheet	8
Statement of Cash Flows	9
Notes to the Financial Statements	10 - 24

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020

Trustees	Sarah J Echlin, Chair
	Paul Edwards
	Ruth F Gungadoo
	Lynda J Driver
	Yvette Gungadoo
Company registered number 06325972 Charity registered number 1124906 Registered office 249 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1NA Company secretary Sarah Ann Price Accountants Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP

Page 1

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees present their annual report together with the financial statements of the Sapphire School of Gymnastics Limited for the 1 September 2019 to 31 August 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The objects of the company, as set out in its Memorandum of Association, are:

To advance the education of children, young persons, students in full time education and young persons out of education and also those with special needs resident in Dacorum and adjoining districts (hereinafter called “the area of benefit”). This will be done by organising or providing assistance in the organisation or provision of facilities which will enable them to undertake gymnastics ensuring that due attention is given to the physical education and development of such children, young persons and students in full time education and to the development and occupation of their minds.

The promotion of healthy recreation by providing facilities for undertaking gymnastics and associated disciplines in particular for the benefit of the area of benefit.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Activities undertaken to achieve objectives

The club organises and provides facilities and coaching staff for gymnastics mainly at Hemel Hempstead Sports Centre.

Achievements and performance

a. Review of activities

Sapphire has had a difficult year because of the Covid 19 shutdown from March to the beginning of August. When the gym was open again only about 50% of the participants could rejoin because of social distancing which also called for more staff to regulate this. It is to be hoped that matters will improve in the next financial year with Zoom classes in operation during future lockdowns.

Page 2

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Financial review

a. Reserves policy

It is the trustees' aim to maintain free reserves at:

1. Six months running costs allowing for fluctuations in income and ongoing equipment purchase and repair. 2. A reserve for the costs of purchasing and converting new premises.

The level of reserves is monitored and reviewed by the trustees annually. Unrestricted reserves at the year end amounted to £347,216 (2019 - £350,053).

Structure, governance and management

a. Constitution

Sapphire School of Gymnastics Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

c. Financial risk management

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £10 to the assets of the Company in the event of winding up.

Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

Page 3

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED IA Company Lirnited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 ststement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Truslee5' Report and the finanaal statevnent5 in accordance wlh applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practscel. Company18w requires the Trustees to prepare finanaal statements for eath financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resources and application of resources. Including its income and expenditure, for that period. In prepanng these financial statemenls. the Tnjslees are required to= select suitable accounting policies and then apply them consistenlly- observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting eslimales Ihat are reasonable and prudent.. slate whether applicable UK Accounting Stsndards {FRS 102) have been followed, subject to any material departures disclosed and explained in the financial ststements- prepare the financial slatements on the going concem basis unless il is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disdose with reasonable accuracy al any time the financial p0511ion 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. Approved by order of the members of the board of Trustees and signed on Iheir behalf by: LGLLJ Sarah J Echlin, Chair Dale.. IL'lii laL Page 4

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Independent Examiner's Report to the Trustees of Sapphire School of Gymnastics Limited ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2020.

Responsibilities and Basis of Report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts 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 England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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 requirement 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.

Page 5

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed: Grant Franklin

Dated: 22 December 2020 ACA

Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP

Page 6

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020

Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2020 £ 190,498 401,134 55 988 592,675 595,512 595,512 (2,837) 350,053 (2,837) 347,216	Total funds 2020 £ 190,498 401,134 55 988 592,675 595,512 595,512 (2,837) 350,053 (2,837) 347,216	Total funds 2019 £ 1,200 595,905 243 987 598,335 629,186 629,186 (30,851) 380,904 (30,851) 350,053

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 10 to 24 form part of these financial statements.

Page 7

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Llmlted by Guarantee) REGISTERED NUMBER: 06325972 BALANCE SHEET AS AT 31 AUGUST 2020 2020 2019 Note Fixed assets Tangible assets Current assets 114.009 131,938 Stocks Debtors Cash at bank and in hand 12 13 5.564 5.770 224,923 12.161 5, 770 203, 134 236.257 221.065 Creditors.. amounts falling due within one year 14 (3.0501 (2.950) Net current assets 233,207 218, 115 Total assets less current liabilities 347.216 350,053 Totsl net assets 347,216 350,053 Charity funds Unrestricted funds 16 347,216 350.053 Total funds 347,216 350,053 The Company was entitled to exemption from audtt under Section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees 8cknovAedge their responsibilities for Com￿Y1ng with the requirements of the Act with respect to accounting records and preparation of financial stalemenls. The fin8nci81 statements have been p￿pared in accordance with the prwsions applicable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Sarah J Echlin Dale.. 20112120 The noles on pages 10 10 24 form part of these financial statements. Page 8

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 10 to 24 form part of these financial statements	2020 £ 23,986 (2,197) (2,197) - 21,789 203,134 224,923	2019 £ (17,706) - - - (17,706) 220,840 203,134

Page 9

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. General information

Sapphire School of Gymnastics Limited is a charitable company limited by guarentee incorporated in England and Wales within the United Kingdom.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Sapphire School of Gymnastics Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

Following the outbreak of the COVID-19 virus the directors have reviewed the company's financial position and its ability to continue as a going concern.

As part of the going concern review the directors have considered the eligibility for the various forms of government support available to the company.

Based on the current information and government support available the preparation of the financial statements on a going concern basis is appropriate in the opinion of the directors.

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

2.4 Expenditure

Page 10

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Accounting policies (continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Fixtures and fittings

15% reducing balance

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.11 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

The Company contributes to personal pension plans of employees and the pension charge represents the amounts payable by the company to the plans in respect of the period.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

3. Income from donations and legacies

	Unrestricted	Total
	funds	funds
	2020	2020
	£	£
Government Grants	190,498	190,498

Page 12

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

3. Income from donations and legacies (continued)

	Unrestricted	Total
	funds	funds
	2019	2019
	£	£
Grants	1,200	1,200

4. Income from charitable activities

Gymnastics club Sale of gym clothing Awards dinner Competition entries and trips Other incoming resources Total 2020 Gymnastics club Sale of gym clothing Awards dinner Competition entries and trips Other incoming resources Total 2019	Unrestricted funds 2020 £ 347,015 6,990 25 3,203 43,901 401,134 Unrestricted funds 2019 £ 518,898 8,520 1,718 4,195 62,574 595,905	Total funds 2020 £ 347,015 6,990 25 3,203 43,901 401,134 Total funds 2019 £ 518,898 8,520 1,718 4,195 62,574 595,905

Page 13

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

5. Income from other trading activities Income from fundraising events

Fundraising Fundraising 6. Investment income Bank interest Bank interest	Unrestricted funds 2020 £ 55 Unrestricted funds 2019 £ 243 Unrestricted funds 2020 £ 988 Unrestricted funds 2019 £ 987	Total funds 2020 £ 55 Total funds 2019 £ 243 Total funds 2020 £ 988 Total funds 2019 £ 987

Page 14

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

7. Analysis of expenditure on charitable activities

Summary by fund type

Gymnastics club Gymnastics club Summary by expenditure type Gymnastics club Gymnastics club	Staff costs 2020 £ 464,266 Staff costs 2019 £ 440,696	Depreciation 2020 £ 20,126 Depreciation 2019 £ 23,300	Unrestricted funds 2020 £ 595,512 Unrestricted funds 2019 £ 629,186 Other costs 2020 £ 111,120 Other costs 2019 £ 165,190	Total funds 2020 £ 595,512 Total funds 2019 £ 629,186 Total funds 2020 £ 595,512 Total funds 2019 £ 629,186

Page 15

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

8. Analysis of expenditure by activities

Gymnastics club Gymnastics club	Activities undertaken directly 2020 £ 595,512 Activities undertaken directly 2019 £ 629,186	Total funds 2020 £ 595,512
		Total funds 2019 £ 629,186

Page 16

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Depreciation Rent Insurance Sundry Equipment maintenance Equipment Printing, postage and stationary Telephone Computer running costs Course expenses Competition expenses Bank charges Awards evening Membership expenses Travel and coach expenses Gym clothing	Gymnastics club 2020 £ 464,266 20,126 18,098 12,064 6,806 2,075 859 1,900 2,063 4,928 770 4,349 1,881 3,185 31,168 8,916 12,058 595,512	Total funds 2020 £ 464,266 20,126 18,098 12,064 6,806 2,075 859 1,900 2,063 4,928 770 4,349 1,881 3,185 31,168 8,916 12,058
		595,512

Page 17

(A Company Limited by Guarantee)

SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

8. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs Depreciation Medical insurance Rent Insurance Sundry Equipment maintenance Equipment Printing, postage and stationary Telephone Computer running costs Course expenses Competition expenses Bank charges Awards evening Membership expenses Travel and coach expenses Gym clothing	Gymnastics club 2019 £ 440,696 23,300 59 41,260 12,920 6,511 16,519 1,272 3,843 2,071 8,556 2,060 3,409 3,866 2,669 37,590 10,954 11,631 629,186	Total funds 2019 £ 440,696 23,300 59 41,260 12,920 6,511 16,519 1,272 3,843 2,071 8,556 2,060 3,409 3,866 2,669 37,590 10,954 11,631
		629,186

9. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,630 ( 2019 - £3,600 ).

10. Staff costs

Wages and salaries Contribution to defined contribution pension schemes	2020 £ 437,357 26,909 464,266	2019 £ 419,519 21,177
		440,696

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

10. Staff costs (continued)

The average number of persons employed by the Company during the year was as follows:

	2020	2019
	No.	No.
Employees	91	101

No employee received remuneration amounting to more than £60,000 in either year.

Remuneration and benefits received by key management personnel amounted to £102,980 for the year (2019: £81,344).

Average employees include persons on the Charity's payroll, who's costs are recharged to a related company, Sapphire Gymnastics CIC.

11. Tangible fixed assets

Cost or valuation At 1 September 2019 Additions At 31 August 2020 Depreciation At 1 September 2019 Charge for the year At 31 August 2020 Net book value At 31 August 2020 At 31 August 2019	Freehold property £ 16,743 - 16,743 16,743 - 16,743 - -	Fixtures and fittings £ 325,322 2,197 327,519 193,384 20,126 213,510 114,009 131,938	Total £ 342,065 2,197
			344,262
			210,127 20,126
			230,253
			114,009
			131,938

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

12. Stocks

	2020	2019
	£	£
Finished goods and goods for resale	5,564	12,161

13. Debtors

Due within one year Other debtors Prepayments and accrued income	2020 £ 3,520 2,250 5,770	2019 £ 3,520 2,250
		5,770

14. Creditors: Amounts falling due within one year

Accruals and deferred income 15. Financial instruments Financial assets Financial assets measured at fair value through income and expenditure	2020 £ 3,050 2020 £ 224,923	2019 £ 2,950
		2019 £ 203,134

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

16.	Statement of funds
	Statement of funds - current year
		Balance at 1			Balance at
		September			31 August
		2019	Income	Expenditure	2020
		£	£	£	£
	Unrestricted funds
	General Funds - all funds	350,053	592,675	(595,512)	347,216

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

16. Statement of funds (continued)

Statement of funds - prior year

	Balance at			Balance at
	1 September			31 August
	2018	Income	Expenditure	2019
	£	£	£	£
Unrestricted funds
General Funds - all funds	380,904	598,335	(629,186)	350,053

17. Summary of funds

Summary of funds - current year

Balance at 1 September 2019 £ General funds 350,053 Summary of funds - prior year Balance at 1 September 2018 £ General funds 380,904	Income £ 592,675 Income £ 598,335	Expenditure £ (595,512) Expenditure £ (629,186)	Balance at 31 August 2020 £ 347,216
			Balance at 31 August 2019 £ 350,053

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

18. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior period Tangible fixed assets Current assets Creditors due within one year Total	Unrestricted funds 2020 £ 114,009 236,257 (3,050) 347,216 Unrestricted funds 2019 £ 131,938 221,065 (2,950) 350,053	Total funds 2020 £ 114,009 236,257 (3,050) 347,216 Total funds 2019 £ 131,938 221,065 (2,950) 350,053

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in stocks Decrease/(increase) in debtors Increase in creditors Net cash provided by/(used in) operating activities	2020 £ (2,837) 20,126 6,597 - 100 23,986	2019 £ (30,851) 23,300 (6,634) (3,521) - (17,706)

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SAPPHIRE SCHOOL OF GYMNASTICS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

20. Analysis of cash and cash equivalents

Cash in hand Total cash and cash equivalents	2020 £ 224,923 224,923	2019 £ 203,134
		203,134

21. Analysis of changes in net debt

	At 1		At 31
	September		August
	2019	Cash flows	2020
	£	£	£
Cash at bank and in hand	203,134	21,789	224,923

22. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £26,909 (2019 - £21,177).

23. Operating lease commitments

At 31 August 2020 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	2020 £ 33,711 115,179 - 148,890	2019 £ 33,711 134,844 14,046
		182,601

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