REGISTERED CHARITY NUMBER: 1125671
Report of the Trustees and Unaudited Financial Statements
for the Year Ended 31 May 2023
for Retford Gymnastics Club
Retford Gymnastics Club
Contents of the Financial Statements for the Year Ended 31 May 2023
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 May 2023. 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.
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.
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 wornout equipment and purchase new equipment to develop new skills. Our fundraising campaign is doing well, and we plan to have raised £20,000 by the end of 2023. A project plan for a grant application is currently in process to apply for a new sprung floor.
Opportunities for our gymnasts
The club has continued to offer holiday sessions for 31/2 hours which are very popular throughout all holiday periods .
All gymnasts have the opportunity to access competitions if they wish and our squad gymnasts continue to work at a high level, competing all over the country.
Schools
We have repeated and new bookings from schools using our facility as well as our coaches going into schools to support staff in their delivery of gymnastics.
Developing the club
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
Again, this year the club has hosted festivals 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 we have again been invited to their annual festival at Torworth.
Fundraising
Club competition Club invitational competition Regular raffles
Page 1
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 2023
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 A Smith C Jones
Independent Examiner
Nick Heawood-Ferriter Chancery Court 34 West Street Retford Nottinghamshire DN22 6ES
Approved by order of the board of trustees on 31 March 2024 and signed on its behalf by:
........................................................................ 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 2023.
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 2. 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
Chancery Court 34 West Street Retford Nottinghamshire DN22 6ES
Date: 31 March 2024
Page 3
Retford Gymnastics Club
Statement of Financial Activities
for the Year Ended 31 May 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities General 247,789 Other trading activities 2 30 Total 247,819 EXPENDITURE ON Raising funds 3 247,709 NET INCOME/(EXPENDITURE) 110 RECONCILIATION OF FUNDS Total funds brought forward 233,469 TOTAL FUNDS CARRIED FORWARD 233,579 |
2022 Total funds £ 206,881 1 206,882 239,274 (32,392) 265,861 233,469 |
|---|---|
The notes form part of these financial statements
Page 4
Retford Gymnastics Club
Balance Sheet 31 May 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 218,138 CURRENT ASSETS Debtors 7 - Cash at bank 16,494 16,494 CREDITORS Amounts falling due within one year 8 (1,053) NET CURRENT ASSETS 15,441 TOTAL ASSETS LESS CURRENT LIABILITIES 233,579 NET ASSETS 233,579 FUNDS 9 Unrestricted funds 233,579 TOTAL FUNDS 233,579 |
2022 Total funds £ 231,050 273 2,238 2,511 (92) 2,419 233,469 233,469 233,469 233,469 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 March 2024 and were signed on its behalf by:
............................................. C Brinkley - Trustee
............................................. 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 2023
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 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other income | 5,975 | 4,994 |
| Bank Interest | 30 | 1 |
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| General | 206,881 |
| Other trading activities | 1 |
| Total | 206,882 |
| EXPENDITURE ON | |
| Raising funds | 239,274 |
| NET INCOME/(EXPENDITURE) | (32,392) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 265,861 |
| TOTAL FUNDS CARRIED FORWARD | 233,469 |
5.
TANGIBLE FIXED ASSETS
| Leasehold improvements £ COST At 1 June 2022 101,139 Additions - At 31 May 2023 101,139 DEPRECIATION At 1 June 2022 5,926 Charge for year 2,023 At 31 May 2023 7,949 NET BOOK VALUE At 31 May 2023 93,190 At 31 May 2022 95,213 |
Gym equipment £ 171,070 3,486 174,556 44,468 12,949 57,417 117,139 126,602 |
Office equipment £ 17,191 438 17,629 7,956 1,864 9,820 7,809 9,235 |
Totals £ 289,400 3,924 293,324 58,350 16,836 75,186 218,138 231,050 |
|---|---|---|---|
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
| 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 1.6.22 £ Unrestricted funds General fund 233,469 TOTAL FUNDS 233,469 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 247,819 TOTAL FUNDS 247,819 Comparatives for movement in funds At 1.6.21 £ Unrestricted funds General fund 265,861 TOTAL FUNDS 265,861 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 206,882 TOTAL FUNDS 206,882 |
2023 2022 £ £ - 273 2023 2022 £ £ 1,053 92 Net movement At in funds 31.5.23 £ £ 110 233,579 110 233,579 Resources Movement expended in funds £ £ (247,709) 110 (247,709) 110 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) |
|---|---|
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continued...
Retford Gymnastics Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
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 1.6.21 £ 265,861 265,861 |
Net movement in funds £ (32,282) (32,282) |
At 31.5.23 £ 233,579 |
|---|---|---|---|
| 233,579 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 454,701 454,701 |
Resources Movement expended in funds £ £ (486,983) (32,282) (486,983) (32,282) |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2023.
Page 9
Retford Gymnastics Club
Detailed Statement of Financial Activities
for the Year Ended 31 May 2023
| INCOME AND ENDOWMENTS Charitable activities Fees Charitable activities Other income Bank Interest Total incoming resources EXPENDITURE Raising donations and legacies 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 income/(expenditure) |
2023 £ 241,814 241,814 5,975 30 6,005 247,819 165,930 39,804 5,938 211,672 4,175 1,620 6,207 1,123 305 5,771 2,023 12,949 1,864 36,037 110 |
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) |
|---|---|---|
This page does not form part of the statutory financial statements
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