REGISTERED CHARITY NUMBER: 1125671
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 May 2022 for Retford Gymnastics Club
Retford Gymnastics Club
Contents of the Financial Statements for the Year Ended 31 May 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 |
Retford Gymnastics Club
Report of the Trustees for the Year Ended 31 May 2022
The trustees present their report with the financial statements of the charity for the year ended 31 May 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Club purpose as set out in the constitution is the promotion of community participation in healthy recreation for the benefit of the inhabitants of Retford and the surrounding area, by the provision and coaching for gymnastics and is affiliated to British Gymnastics.
Public benefit
The charity furthers the health and recreation for all age groups in the Retford and surrounding areas by the provision and coaching of gymnastics
In deciding on what activities, the Trust should pursue, the Trustees have regard to guidance issued by the Charity Commission.
Achievement and performance
The club continues to be a popular facility and we continue to have many new additions to our current waiting list.
The club provides opportunities for all gymnasts to achieve their full potential offering the opportunity to compete at low level to elite level. Our open disability sessions are well attended and is popular due to the facility being a safe place for the children with disabilities, giving them the opportunity to explore the apparatus. This session is for those children and young adults who are unable to access mainstream sessions due to their level of disability. Comments from parents/carers indicate that this is the one facility where their children in their care have the opportunity to freely access the equipment.
The Little Gymstars and Independent preschool classes continue to be very popular with both boys and girls with over 90% feeding into our general recreational classes as they go into full time education. The squad gymnasts continue to develop their skills to a high level and both boys and girl are competing up to National level. We continue to offer trials for gymnasts wanting to develop their skills to a higher level.
The club continues to source funding and to fundraise within the club to improve the venue and to update old and worn out equipment and purchase new equipment to enable the development of new skills. The club continues to recover from the effects of the pandemic, offering increased participation, holiday sessions and accessing competitions for our squads and again planning our own in- house competition. The venue is now being used by British Gymnastics to host coach education courses and we are now seeing the increase in bookings for birthday parties once again. Our fundraising campaign is ongoing and we plan to fundraise to purchase a new sprung floor and replace old equipment.
We continue to follow our development plan to increase participation at the club, to create the opportunity for all children and adults to take part in healthy recreation. We will continue to provide pathways for talented gymnasts to compete and we will continue to improve the facility further purchasing new equipment and developing the level of the skills and qualifications of our coaches.
Community links
The club continues to host Festivals year on year for a large number of primary schools giving the opportunity for children to experience gymnastics in a purpose-built facility. We continue to have regular independent bookings from schools to access the facility, giving their children the opportunity to develop their gymnastics to a higher level. From these links, we have attracted many new members into the sport. Our links with the local community continue and have again been invited to their annual festival.
Holiday sessions
Holiday sessions provided the opportunity for members and non- members to take part in a four hour fun session. During the summer, these are very well attended.
Fundraising
Easter event Club invitational competition and Winter squad competition Display
FINANCIAL REVIEW
Reserves policy
The trustees monitor the reserves on a regular basis and consider the current reserves sufficient for the Charity.
Page 1
Retford Gymnastics Club
Report of the Trustees for the Year Ended 31 May 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1125671
Principal address
Unit 4-10 The Old Timber Shed Baulk Lane, Torworth Retford Nottinghamshire DN22 8PB
Trustees
Miss C Brinkley Mrs S Jarvis K Smith J Briggs
Independent Examiner
Nick Heawood-Ferriter Chancery Court 34 West Street Retford Nottinghamshire DN22 6ES
Approved by order of the board of trustees on 2 August 2023 and signed on its behalf by:
C Brinkley C Brinkley (Aug 2, 2023 07:23 GMT+1)
........................................................................ Miss C Brinkley - Trustee
Page 2
Independent Examiner's Report to the Trustees of Retford Gymnastics Club
Independent examiner's report to the trustees of Retford Gymnastics Club
I report to the charity trustees on my examination of the accounts of Retford Gymnastics Club (the Trust) for the year ended 31 May 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Nick Heawood-Ferriter MAAT
Chancery Court 34 West Street Retford Nottinghamshire DN22 6ES
Date: 2 August 2023
Page 3
Retford Gymnastics Club
Statement of Financial Activities
for the Year Ended 31 May 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities General 201,887 Other trading activities 2 4,995 Total 206,882 EXPENDITURE ON Charitable activities 198,583 Support costs 40,691 Total 239,274 NET INCOME/(EXPENDITURE) (32,392) RECONCILIATION OF FUNDS Total funds brought forward 265,861 TOTAL FUNDS CARRIED FORWARD 233,469 |
2021 Total funds £ 203,555 2,609 206,167 176,040 32,470 208,510 (2,343) 268,204 265,861 |
|---|---|
The notes form part of these financial statements
Page 4
Retford Gymnastics Club
Balance Sheet
31 May 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 231,050 CURRENT ASSETS Debtors 7 273 Cash at bank 2,238 2,511 CREDITORS Amounts falling due within one year 8 (92) NET CURRENT ASSETS 2,419 TOTAL ASSETS LESS CURRENT LIABILITIES 233,469 NET ASSETS 233,469 FUNDS 9 Unrestricted funds 233,469 TOTAL FUNDS 233,469 |
2021 Total funds £ 242,107 160 23,594 23,754 - 23,754 265,861 265,861 265,861 265,861 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 2 August 2023 and were signed on its behalf by:
C Brinkley C Brinkley (Aug 2, 2023 07:23 GMT+1)
............................................. C Brinkley - Trustee
Kevin Smith (Aug 2, 2023 05:05 GMT+1)
............................................. K Smith - Trustee
The notes form part of these financial statements
Page 5
Retford Gymnastics Club
Notes to the Financial Statements for the Year Ended 31 May 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Leasehold improvements | - 2% on cost |
|---|---|
| Gym equipment | - 10% on reducing balance |
| Office equipment | - 20% on reducing balance |
The trustees and independent examiner have reviewed the asset values and are happy they are fairly valued in the accounts.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Other income | 4,994 | 2,609 |
| Bank Interest | 1 | 3 |
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| General | 203,555 |
| Other trading activities | 2,609 |
| Total | 206,167 |
| EXPENDITURE ON | |
| Raising funds | 208,510 |
| NET INCOME/(EXPENDITURE) | (2,343) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 268,204 |
| TOTAL FUNDS CARRIED FORWARD | 265,861 |
5.
TANGIBLE FIXED ASSETS
| Leasehold improvements £ COST At 1 June 2021 101,139 Additions - At 31 May 2022 101,139 DEPRECIATION At 1 June 2021 3,983 Charge for year 1,943 At 31 May 2022 5,926 NET BOOK VALUE At 31 May 2022 95,213 At 31 May 2021 97,156 |
Gym equipment £ 163,809 7,261 171,070 30,401 14,067 44,468 126,602 133,408 |
Office equipment £ 17,191 - 17,191 5,648 2,308 7,956 9,235 11,543 |
Totals £ 282,139 7,261 289,400 40,032 18,318 58,350 231,050 242,107 |
|---|---|---|---|
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
| 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 8. MOVEMENT IN FUNDS At 1.6.21 £ Unrestricted funds General fund 265,861 TOTAL FUNDS 265,861 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 206,882 TOTAL FUNDS 206,882 Comparatives for movement in funds At 1.6.20 £ Unrestricted funds General fund 268,204 TOTAL FUNDS 268,204 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 206,167 TOTAL FUNDS 206,167 |
2022 2021 £ £ 273 160 2022 2021 £ £ 92 - Net movement At in funds 31.5.22 £ £ (32,392) 233,469 (32,392) 233,469 Resources Movement expended in funds £ £ (239,274) (32,392) (239,274) (32,392) Net movement At in funds 31.5.21 £ £ (2,343) 265,861 (2,343) 265,861 Resources Movement expended in funds £ £ (208,510) (2,343) (208,510) (2,343) |
|---|---|
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.6.20 £ 268,204 268,204 |
Net movement in funds £ (34,735) (34,735) |
At 31.5.22 £ 233,469 |
|---|---|---|---|
| 233,469 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2022.
Page 9
Retford Gymnastics Club
Detailed Statement of Financial Activities
| INCOME AND ENDOWMENTS Charitable activities Fees Grants Other trading activities Other income Bank Interest Total incoming resources EXPENDITURE Charitable activities Coaching fees Rent and rates Competition entry Support Costs Property repairs Insurance Light and heat Telephone Postage and stationery Sundries Improvements to property Plant and machinery Fixtures and fittings Total resources expended Net expenditure |
for the Year Ended 31 May 2022 | 2022 £ 201,887 - 201,887 4,994 1 4,995 206,882 160,489 35,910 2,184 198,583 8,313 968 3,775 1,018 227 8,071 1,943 14,067 2,309 40,691 (32,392) |
2021 £ 160,174 43,381 203,555 2,609 3 2,609 206,167 146,932 28,028 1,080 176,040 4,302 698 3,570 625 64 3,308 2,023 14,823 3,057 32,470 (2,343) |
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This page does not form part of the statutory financial statements
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