**Registered number: 06325972 Charity number: 1124906** **This draft produced on 25/2/2022 16:58** # **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)** **UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **CONTENTS** **----- Start of picture text -----**
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
DRAFT
**----- End of picture text -----**
**This draft produced on 25/2/2022 16:58** ## **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 2021** **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 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2021** The Trustees present their annual report together with the financial statements of the Sapphire School of Gymnastics Limited for the 1 September 2020 to 31 August 2021. 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 another difficult year because of the ongoing problems caused by Covid 19. There were shutdowns in November and early in 2021 although some classes were maintained on Zoom. Staff numbers have reduced somewhat over this financial year even though the club has maintained furlough payments through closure periods. It is to be hoped that some degree of normality will resume in the following year. Page 2 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** ## **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 £456,576 (2020 - £347,216). ## **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 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** ## **Statement of Trustees' responsibilities** The Trustees (who are also the directors of the Company for the purposes 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 . 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 state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent;  state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it 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 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. Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ **Sarah J Echlin, Chair** Date: Page 4 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021** ## **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 2021. ## **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'). ## **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. 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. Page 5 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** **(A Company Limited by Guarantee)** ## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 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 **Hillier Hopkins LLP** Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP Dated: ACA ## Page 6 **This draft produced on 25/2/2022 16:58** ## **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 2021** |DRAFT
**Unrestricted**
**funds**
**2021**
**Total**
**funds**
**2021**
**Note**
**£**
**£**
**Income from:**
Donations and legacies
3
**207,275**
**207,275**
Charitable activities
4
**459,465**
**459,465**
Other trading activities
5
**-**
**-**
Investments
6
**440**
**440**
**Total income**
**667,180**
**667,180**
**Expenditure on:**
Charitable activities
7
**557,820**
**557,820**
**Total expenditure**
**557,820**
**557,820**
**Net movement in funds**
**109,360**
**109,360**
**Reconciliation of funds:**
Total funds brought forward
**347,216**
**347,216**
Net movement in funds
**109,360**
**109,360**
**Total funds carried forward**
**456,576**
**456,576**
The Statement of Financial Activities includes all gains and losses recognised in the year.|_Total_
_funds_
_2020_
_£_
_190,498_
_401,134_
_55_
_988_
_592,675_
_595,512_
_595,512_
_(2,837)_
_350,053_
_(2,837)_
_347,216_| |---|---| The notes on pages 10 to 24 form part of these financial statements. Page 7 ## **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee) REGISTERED NUMBER: 06325972** **BALANCE SHEET AS AT 31 AUGUST 2021** **----- Start of picture text -----**
2021 2020
Note £ £
Fixed assets
Tangible assets 11 105,054 114,009
Current assets
Stocks 12 3,853 5,564
Debtors 13 38,500 5,770
Cash at bank and in hand 332,162 224,923
374,515 236,257
Creditors: amounts falling due within one
year 14 (22,993) (3,050)
Net current assets 351,522 233,207
Total assets less current liabilities 456,576 347,216
Total net assets 456,576 347,216
Charity funds
Unrestricted funds 16 456,576 347,216
Total funds 456,576 347,216
DRAFT
**----- End of picture text -----**
The Company was entitled to exemption from audit 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 acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on _________________________________________________ and signed on their behalf by: ## **Sarah J Echlin** The notes on pages 10 to 24 form part of these financial statements. Page 8 ## **This draft produced on 25/2/2022 16:58 SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)** **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021** **----- Start of picture text -----**
2021 2020
£ £
Cash flows from operating activities
Net cash used in operating activities 116,837 23,986
Cash flows from investing activities
Purchase of tangible fixed assets (9,598) (2,197)
Net cash used in investing activities (9,598) (2,197)
Cash flows from financing activities
- -
Net cash provided by financing activities
Change in cash and cash equivalents in the year 107,239 21,789
Cash and cash equivalents at the beginning of the year 224,923 203,134
Cash and cash equivalents at the end of the year 332,162 224,923
The notes on pages 10 to 24 form part of these financial statements
DRAFT
**----- End of picture text -----**
Page 9 **This draft produced on 25/2/2022 16:58** **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **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. Page 10 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** **(A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** 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. 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. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 11 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **2. Accounting policies (continued)** ## **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. ## **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. Page 12 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** |DRAFT
**3.**
**Income from donations and legacies**
**Unrestricted**
**funds**
**2021**
**£**
Grants
207,275
_Unrestricted_
_funds_
_2020_
_£_
Grants
_190,498_
**4.**
**Income from charitable activities**
**Unrestricted**
**funds**
**2021**
**£**
Gymnastics club
398,284
Sale of gym clothing
3,017
Awards dinner
-
Competition entries and trips
349
Other incoming resources
57,815
**Total 2021**
459,465|**Total**
**funds**
**2021**
**£**
**207,275**| |---|---| ||_Total_
_funds_
_2020_
_£_
_190,498_| ||**Total**
**funds**
**2021**
**£**
**398,284**
**3,017**
**-**
**349**
**57,815**| ||**459,465**| Page 13 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **4. Income from charitable activities (continued)** _Unrestricted Total funds funds 2020 2020 £ £_ Gymnastics club _347,015 347,015_ Sale of gym clothing _6,990 6,990_ Awards dinner _25 25_ Competition entries and trips _3,203 3,203_ Other incoming resources _43,901 43,901 Total 2020 401,134 401,134_ **5. Income from other trading activities Income from fundraising events Total funds 2021 £** _Unrestricted Total funds funds 2020 2020 £ £_ Fundraising _55 55_ **6. Investment income Unrestricted Total funds funds 2021 2021 £ £** Bank interest 440 **440** Page 14 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **6. Investment income (continued)** **----- Start of picture text -----**
Unrestricted Total
funds funds
2020 2020
£ £
Bank interest 988 988
7. Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Total
funds funds
2021 2021
£ £
Gymnastics club 557,820 557,820
Unrestricted Total
funds funds
2020 2020
£ £
Gymnastics club 595,512 595,512
Summary by expenditure type
Total
Staff costs Depreciation Other costs funds
2021 2021 2021 2021
£ £ £ £
Gymnastics club 440,036 18,553 99,231 557,820
DRAFT
**----- End of picture text -----**
Page 15 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **7. Analysis of expenditure on charitable activities (continued) Summary by expenditure type (continued)** **----- Start of picture text -----**
Total
Staff costs Depreciation Other costs funds
2020 2020 2020 2020
£ £ £ £
Gymnastics club 464,266 20,126 111,120 595,512
8. Analysis of expenditure by activities
Activities
undertaken Total
directly funds
2021 2021
£ £
Gymnastics club 557,820 557,820
Activities
undertaken Total
directly funds
2020 2020
£ £
Gymnastics club 595,512 595,512
DRAFT
**----- End of picture text -----**
Page 16 **This draft produced on 25/2/2022 16:58** **(A Company Limited by Guarantee)** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **8. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |DRAFT
Staff costs
Depreciation
Rent
Insurance
Sundry
Equipment maintenance
Equipment
Printing, postage and stationary
Telephone
Computer running costs
Course expenses
Competition expenses
Bank charges
Membership expenses
Travel and coach expenses
Gym clothing|**Gymnastics**
**club**
**2021**
**£**
440,036
18,553
13,432
18,562
15,560
3,520
68
765
2,420
9,945
2,874
248
1,289
24,206
35
6,307
557,820|**Total**
**funds**
**2021**
**£**
**440,036**
**18,553**
**13,432**
**18,562**
**15,560**
**3,520**
**68**
**765**
**2,420**
**9,945**
**2,874**
**248**
**1,289**
**24,206**
**35**
**6,307**| |---|---|---| |||**557,820**| Page 17 **This draft produced on 25/2/2022 16:58** **(A Company Limited by Guarantee)** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **8. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs (continued)** |DRAFT
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_| ## **9. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £3,750 ( _2020_ - _£3,630_ ). ## **10. Staff costs** |Wages and salaries
Contribution to defined contribution pension schemes|**2021**
**£**
**413,245**
**26,791**
**440,036**|_2020_
_£_
_437,357_
_26,909_| |---|---|---| |||| |||_464,266_| Page 18 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **10. Staff costs (continued)** The average number of persons employed by the Company during the year was as follows: ||**2021**|_2020_| |---|---|---| ||**No.**|_No._| |Employees|**63**|_91_| No employee received remuneration amounting to more than £60,000 in either year. |DRAFT
Remuneration and benefits received by key management personnel amounted to £105,359 for the yea
(2020: £102,980)
Average employees include persons on the Charity's payroll, who's costs are recharged to a related
company, Sapphire Gymnastics CIC.
**Tangible fixed assets**
**Freehold**
**property**
**Fixtures and**
**fittings**
**Total**
**£**
**£**
**£**
**Cost or valuation**
At 1 September 2020
**16,743**
**327,519**
**344,262**
Additions
**-**
**9,598**
**9,598**
At 31 August 2021
**16,743**
**337,117**
**353,860**|DRAFT
Remuneration and benefits received by key management personnel amounted to £105,359 for the yea
(2020: £102,980)
Average employees include persons on the Charity's payroll, who's costs are recharged to a related
company, Sapphire Gymnastics CIC.
**Tangible fixed assets**
**Freehold**
**property**
**Fixtures and**
**fittings**
**Total**
**£**
**£**
**£**
**Cost or valuation**
At 1 September 2020
**16,743**
**327,519**
**344,262**
Additions
**-**
**9,598**
**9,598**
At 31 August 2021
**16,743**
**337,117**
**353,860**|DRAFT
Remuneration and benefits received by key management personnel amounted to £105,359 for the yea
(2020: £102,980)
Average employees include persons on the Charity's payroll, who's costs are recharged to a related
company, Sapphire Gymnastics CIC.
**Tangible fixed assets**
**Freehold**
**property**
**Fixtures and**
**fittings**
**Total**
**£**
**£**
**£**
**Cost or valuation**
At 1 September 2020
**16,743**
**327,519**
**344,262**
Additions
**-**
**9,598**
**9,598**
At 31 August 2021
**16,743**
**337,117**
**353,860**| |---|---|---| |**Depreciation**||| |At 1 September 2020
**16,743**|**213,510**|**230,253**| |Charge for the year
**-**|**18,553**|**18,553**| |At 31 August 2021
**16,743**|**232,063**|**248,806**| |**Net book value**||| |At 31 August 2021
**-**|**105,054**|**105,054**| |_At 31 August 2020_
_-_|_114,009_|_114,009_| 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** Remuneration and benefits received by key management personnel amounted to £105,359 for the year (2020: £102,980) Page 19 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** |DRAFT
**12.**
**Stocks**
Finished goods and goods for resale
**13.**
**Debtors**
**Due within one year**
Related party debtors
Other debtors
Prepayments and accrued income
**14.**
**Creditors: Amounts falling due within one year**
Related party creditors
Accruals and deferred income
**15.**
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2021**
**£**
**3,853**
**2021**
**£**
**38,500**
**-**
**-**
**38,500**
**2021**
**£**
**19,943**
**3,050**
**22,993**
**2021**
**£**
**332,162**|_2020_
_£_
_5,564_| |---|---|---| |||_2020_
_£_
_-_
_3,520_
_2,250_| |||| |||_5,770_| |||_2020_
_£_
_-_
_3,050_| |||| |||_3,050_| |||_2020_
_£_
_224,923_| Page 20 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **----- Start of picture text -----**
16. Statement of funds
Statement of funds - current year
Balance at 1 Balance at
September 31 August
2020 Income Expenditure 2021
£ £ £ £
Unrestricted funds
General Funds - all funds 347,216 687,123 (577,763) 456,576
Statement of funds - prior year
Balance at Balance at
1 September 31 August
2019 Income Expenditure 2020
£ £ £ £
Unrestricted funds
General Funds - all funds 350,053 592,675 (595,512) 347,216
17. Summary of funds
Summary of funds - current year
Balance at 1 Balance at
September 31 August
2020 Income Expenditure 2021
£ £ £ £
General funds 347,216 687,123 (577,763) 456,576
Summary of funds - prior year
Balance at Balance at
1 September 31 August
2019 Income Expenditure 2020
£ £ £ £
General funds 350,053 592,675 (595,512) 347,216
DRAFT
**----- End of picture text -----**
Page 21 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** **18. Analysis of net assets between funds** |DRAFT
**Analysis of net assets between funds - current year**
**Unrestricte**
**d funds**
**2021**
**£**
Tangible fixed assets
105,054
Current assets
354,572
Creditors due within one year
(3,050)
**Total**
456,576
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2020_
_£_
Tangible fixed assets
_114,009_
Current assets
_236,257_
Creditors due within one year
_(3,050)_
**Total**
_347,216_
**19.**
**Reconciliation of net movement in funds to net cash flow from operating activities**
**2021**
**£**
Net income/expenditure for the year (as per Statement of Financial
Activities)
**109,360**
**Adjustments for:**
Depreciation charges
**18,553**
Decrease in stocks
**1,711**
Decrease in debtors
**5,770**
Increase in creditors
**19,943**
**Net cash provided by operating activities**
**155,337**|**Total**
**funds**
**2021**
**£**
**105,054**
**354,572**
**(3,050)**
**456,576**
_Total_
_funds_
_2020_
_£_
_114,009_
_236,257_
_(3,050)_
_347,216_
_2020_
_£_
_(2,837)_
_20,126_
_6,597_
_-_
_100_
_23,986_| |---|---| Page 22 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **20. Analysis of cash and cash equivalents** ||**2021**
_2020_| |---|---| ||**£**
_£_| ||Cash in hand
**332,162**
_224,923_| ||**Total cash and cash equivalents**
**332,162**
_224,923_| |**21.**
**22.**
**23.**|DRAFT
**Analysis of changes in net debt**
**At 1**
**September**
**2020**
**Cash flows**
**At 31**
**August**
**2021**
**£**
**£**
**£**
Cash at bank and in hand
**224,923**
**107,239**
**332,162**
**Pension commitments**
The company operates a defined contributions pension scheme. The assets of the scheme are hel
separately from those of the company in an independently administered fund. The pension cost charg
represents contributions payable by the company to the fund and amounted to £26,791 (2020 - £26,909)
**Operating lease 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 £26,791 (2020 - £26,909). ## **23. Operating lease commitments** At 31 August 2021 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|**2021**
**£**
**33,711**
**81,468**
**115,179**|_2020_
_£_
_33,711_
_115,179_| |---|---|---| |||| |||_148,890_| Page 23 **This draft produced on 25/2/2022 16:58** ## **SAPPHIRE SCHOOL OF GYMNASTICS LIMITED** **(A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **24. Related party transactions** Sapphire School of Gymnastics Ltd received funds on behalf of Sapphire Gymnastics CIC during year. The outstanding balance owed to Sapphire Gymnastics CIC at 31 August 2021 is £19,943 (2020 - £nil). Sapphire Gymnastics CIC received funds on behalf Sapphire School of Gymnastics Ltd during year. The outstanding balance owed by Sapphire Gymnastics CIC at 31 August 2021 is £38,500 (2020 - £nil). One of the trustees of Sapphire School of Gymnastics Ltd is a director of Sapphire Gymnastics CIC. ## Page 24