2022-05-31-accounts - South Essex Gymnastics Club Limited

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		Page
Report ofthe Trustees	1	to	8
Report ofthe Independent Auditors	9	to	11
Statement ofFinancial Activities		12
Balance Sheet		13
Cash Flow Statement		14
Notes to the Cash Flow Statement		15
Notes to the Financial Statements	16	to	25
Detailed Statement ofFinancial Activities	26	to	27

	for	the Year	Ended 31Ma 2	022
					2022	2021
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			18,607		18,607	127,618
Charitable activities
Gymnastics			1,370,110		1,370,110	520,212
Other trading activities Investment income		4 5	62,531 11		62,531 11	733 309
Other income			25,523		25,523	416,935
Total			1,476,782		1,476,782	1,065,807
EXPENDITURE ON
Raising funds		7	23,806		23,806	13,085
Charitable activities		8
Gymnastics			1,545,015		1 545 015	1 356 149
Total			1,568,821		1,568,821	1,369,234
NET INCOME/(EXPENDITURE)			(92,039)		(92,039)	(303,427)
Transfers between funds		23	100,000	(100,000)
Net movement in funds			7,961	(100,000)	(92,039)	(303,427)
RECONCILIATION	OFFUNDS
Total funds brought forward			567,610	100,000	667,610	971,037
TOTAL FUNDS CARRIED FORWARD			575,571		575,571	667,610

hEs	xG lu Limite
	Balance Sheet
	3~ttL2( 22
		2022	2021
	Notes
FIXEDASSETS Tangible assets	15	341,337	368,469
CURRENT ASSETS
Stocks Debtors Cash at bank	16 17	8,313 56,930 464,163	4,265 44,467 719,371
		529,406	768,103
CREDITORS
Amounts falling due within one year	18	(102,554)	(218,962)
NET CURRENT ASSETS		426,852	549,141
TOTAL ASSETSLESS CURRKNT LIABILITIES		768,189	917,610
CREDITORS
Amounts falling due afier more than one year	19	(192,618)	(250,000)
NKT ASSETS		575,571	667,610
FUNDS Unrestricted funds	23	575,571	567,610
Restricted funds			100,000
TOTAL FUNDS		575,571	667,610

			~Cash Fl ~Stateniggl	~Cash Fl ~Stateniggl
			e	1Ma
					2022	2021
			Notes
Cash flows from operating activities Cash generated from operations					(199,588)	(74,412)
Net cash used in operating	activities				(199,588)	(74,412)
Cash flows from investing Purchase oftangible fixed Interest received	activities assets				(55,631) 11	(35,640) 309
Net cash used in investing	activities				(55,620)	(35,331)
Cash flows from financing activities New loans in year						250,000
Net cash provided by financing activities						250,000
Change in cash and cash the reporting period	equivalents	in			(255,208)	140,257
Cash and cash equivalents beginning ofthe reporting	at the period				719,371	579,114
Cash and cash equivalents the reporting period	at the end	of			464,163	719,371

ACTIVITIES
				2022	2021
Net expenditure for the reporting Financial Activities)		period (as per the Statement of		(92,039)	(303,427)
Adjustments for: Depreciation charges Interest received				82,763 (11)	85,967 (309)
(Increase)/decrease in stocks (Increase)/decrease in debtors (Decrease)/increase in creditors				(4,048) (12,463) (173,790)	4,721 92,802 45,834
Net cash used in	operations			(199,588)	(74,412)
ANALYSIS OF	CHANGES IN NET FUNDS
		At	1.6.21	Cash flow	At31.5.22
			f
Net cash
Cash at bank		719,371		(255,208)	464,163
		719,371		(255,208)	464,163
Debt
Debts falling due Debts falling due	within 1 year atter 1 year	(250,000)		(57,382) 57,382	(57,382) (192,618)
		(250,000)			(250,000)
Total		469,371		(255,208)	214,163

DONATIO	NS AND LEGACIES
		2022	2021
			I
Fundraising Grants	events	7,380 11,227	194 127,424
		18,607	127,618

			2022	2021
Clothing sales Children's parties			19,603 42,928	733
			62,531	733
INVESTMKNT INCOME
			2022	2021
Deposit account interest			11	309
INCOME FROM CHARITABLE ACTIVITIES
			2022	2021
		Activity		f.
Membership fees Recreation &preschool fees		Gymnastics Gymnastics	538,257 721,565	254,272 251,554
Mother &toddler	fun
sessions		Gymnastics	39,179	5,003
Adult session fees		Gymnastics	9,111	660
Freestyle Miscellaneous fees		Gymnastics Gymnastics	22,811 16,801	2,898 3,440
Special needs fees		Gymnastics	22,386	2,385
			1,370,110	520,212

7.	RAISING FUNDS
	Other trading activities			2022	2021
	Opening stock Purchases			4,265 27,854	8,986 8,364
	Closing stock			(8,313)	(4,265)
				23,806	13,085
8.	CHARITABLE ACTIVITIES COSTS
			Direct	Support
			Costs (see	costs (see
			note 9)	note 10)	Totals
	Gymnastics		952,259	592,756	1,545,015
9.	DIRECT COSTSOF CHARITABLE	ACTIVITIES
				2022	2021
	Staffcosts			757,503	731,745
	B.G. affiliation			37,615	49,561
	Competition fees Training costs Sundry equipment &maintenance Travelling contributions Sponsorship fees Depreciation			15,817 15,134 5,087 18,315 20,025 82,763	285 2,224 1,470 3,792 6,715 85,967
				952,259	881,759
10.	SUPPORT COSTS
					Office
					staff
			Management	Finance	costs
	Gymnastics		265,859	4,549	303,184
		General
		overhead	Sundry	Governance
		costs	costs	costs	Totals
		f
	Gymnastics	6,464	948	11,752	592,756

		2022	2021
Auditors'	reinuneration	6,614	5,700
Depreciation - owned assets		82,763	85,967

13.	STAFF COSTS
						2022	2021
	Wages and salaries Social security costs Other pension costs					990,707 48,738 21,242	958,625 43,053 18,083
						1,060,687	1,019,761
	The average monthly	number ofemployees		during	the year was as follows:
						2022	2021
	Charitable activities	and general office				79	87
	The number ofemployees		whose employee	benefits	(excluding employer pension costs) exceeded		f60,000was:
						2022	2021
	f80,001 —f90,000					1	1
14.	COMPARATIVES	FOR THE STATEMENT OFFINANCIAL ACTIVITIES
					Unrestricted	Restricted	Total
					fund	fund	funds
	INCOME AND ENDOWMENTS FROM
	Donations and legacies				27,618	100,000	127,618
	Charitable activities
	Gymnastics				520,212		520,212
	Other nading activities Investment income				733 309		733 309
	Other income				416,935		416,935
	Total				965,807	100,000	1,065,807

	Notes to the Financial Statements -continued for the Year Ended 31Ma 2022	Notes to the Financial Statements -continued for the Year Ended 31Ma 2022	Notes to the Financial Statements -continued for the Year Ended 31Ma 2022
14.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued Unrestricted Restricted			Total
		fund	fund	funds
				6
	EXPENDITURE ON
	Raising funds	13,085		13,085
	Charitable activities
	Gymnastics	1,356,149		1,356,149
	Total	1,369,234		1,369,234
	NET INCOME/(EXPENDITURE)	(403,427)	100,000	(303,427)
	RECONCILIATION OFFUNDS
	Total funds brought forward	971,037		971,037
	TOTAL FUNDS CARRIED FORWARD	567,610	100,000	667,610
15.	TANGIBLE FIXEDASSETS
		Improvements
		to	Plant and
		property	machinery	Totals f
	COST
	At 1 June 2021	230,868	807,202	1,038,070
	Additions		55,631	55,631
	At 31May 2022	230,868	862,833	1,093,701
	DEPRECIATION
	At 1 June 2021 Charge for year	33,134 12,826	636,467 69,937	669,601 82,763
	At 31May 2022	45,960	706,404	752,364
	NET BOOK VALUE
	At 31May 2022	184,908	156,429	341,337
	At 31May 2021	197,734	170,735	368,469

16.	STOCKS
			2022	2021
	Stocks		8,313	4,265
17.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR	2022	2021
				f
	Trade debtors		14,546	12,250
	Prepayments		42,384	32,217
			56,930	44,467
18.	CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR
			2022	2021
			f	f
	Bank loans and overdrafis Trade creditors	(see note 20)	57,382 1,861	10,914
	Social security and other taxes Other creditors		571	17,735 361
	Accruals and prepaid income		42,740	189,952
			102,554	218,962
19.	CREDITORS: AMOUNTS FALLING DUE AFTERMORE THAN ONE YEAR
			2022	2021
			8	f
	Bank loans (see note 20)		192,618	250,000
20.	LOANS
	An analysis ofthe maturity	ofloans is given below:
			2022	2021
	Amounts falling due within one year on demand: Bank loans		57,382
	Amounts falling between one and two years: Bank loans - 1-2 years		60,233	57,382
	Amounts falling due between two and five years: Bank loans —2-5 years		132,385	192,618

	Minimmn leas	e payments under	non-cancellable operating leases	fall due as follo	ws:
					2022	2021
	In more than five years				104,765	103,123
22.	ANALYSIS OF NET ASSETS		BETWEEN FUNDS
					2022	2021
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
				f
	Fixed assets		341,337		341,337	368,469
	Gurent assets		529,406		529,406	768,103
	Current liabilities		(102,554)		(102,554)	(218,962)
	Long term liabilities		(192,618)		(192,618)	(250,000)
			575,571		575,571	667,610
23.	MOVEMENT IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.6.21	in funds	funds	31.5.22
	Unrestricted	funds
	General fund		567,610	(92,039)	100,000	575,571
	Restricted funds
	Charitable reserve		100,000		(100,000)
	TOTAL FUNDS		667,610	(92,039)		575,571
	Net movement	in funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
					f.
	Unrestricted	funds
	General fund			1,476,782	(1,568,821)	(92,039)
	TOTALFUNDS			1,476,782	(1,568,821)	(92,039)

						Net
						movement	At
					At 1.6.20	in funds	31.5.21
Unrestricted funds
General fund					971,037	(403,427)	567,610
Restricted funds
Charitable reserve						100000	100000
TOTAL FUNDS					971,037	(303,427)	667,610
Comparative net movement		in funds, included in the		above are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
							f.
Unrestricted funds
General fund					965,807	(1,369,234)	(403,427)
Restricted funds
Charitable reserve					100,000		100,000
TOTAL FUNDS					1,065,807	(1,369,234)	(303,427)
A current year 12months	and prior year		12months combined position is as follows:
					Net	Transfers
					movement	between	At
			At 1,6.20		in funds	funds f	31.5.22
Unrestricted funds
General fund				971,037	(495,466)	100,000	575,571
Restricted funds
Charitable reserve					100,000	(100,000)
TOTAL FUNDS				971,037	(395,466)		575,571

A current year 12months and prior year 1 as follows:	2 months combined net movement in	funds, included i	n the above
	Incoming	Resources	Movement
	resources	expended	in funds
		f.
Unrestricted funds
General fund	2,442,589	(2,938,055)	(495,466)
Restricted funds
Charitable reserve	100,000		100,000
TOTALFUNDS	2,542,589	(2,938,055)	(395,466)

Detailed Statement ofF for the Year Ended	inancial Activities 31Ma 20
	2022	2021f
INCOME AND ENDOWMENTS
Donations and legacies Fundraising events Grants	7,380 11,227	194 127,424
	18,607	127,618
Other trading activities Clothing sales	19,603	733
Children's parties	42,928
	62,531	733
Investment income
Deposit account interest		309
Charitable activities
Membership fees Recreation dt preschool fees	538,257 721,565	254,272 251,554
Mother Brtoddler fun sessions	39,179	5,003
Adult session fees	9,111	660
Freestyle Miscellaneous fees	22,811 16,801	2,898 3,440
Special needs fees	22,386	2,385
	1,370,110	520,212
Other income
Insurance claim		20,000
Room hire	60
Job retention scheme grants Government grants	18,330 7,133	375,182 21,753
	25,523	416,935
Total incoming resources	1,476,782	1,065,807
EXPENDITURE
Other trading activities Opening stock Clothing costs Closing stock	4,265 27,854 (8,313)	8,986 8,364 (4,265)
	23,806	13,085
Charitable activities
Coaching fees Carried forward	687,523 687,523	670,609 670,609

			Detailed State	f	Financial	Activities
			for the Year	End	1Ma	2022
							2022	2021
Charitable activities
Brought forward Social security Pensions							687,523 48,738 21,242	670,609 43,053 18,083
B.G.affiliation							37,615	49,561
Competition fees Tl'anung costs Sundry equipment 6t lnaintenance Travelling contributions Sponsorship fees Improvements to properly Plant and machinery							15,817 15,134 5,087 18,315 20,025 12,826 69,937	285 2,224 1,470 3,792 6,715 12,826 73,141
							952,259	881,759
Support costs
Management Rent dt other hall costs							189,855	86,749
Buildings insurance Building maintenance Computer maintenance	6t sofbvare						4,541 5,667 65,796	2,981 8,532 62,005
							265,859	160,267
Finance
Bank charges							4,549	4,243
Office staff costs General office staff							303,184	288,016
General overhead costs
Advertising Postage and stationery Clothing							7 5,471 986	1,152 3,018 142
							6,464	4,312
Sundry costs Sundries							948	226
Governance costs
Auditors' remuneration							6,614	5,700
Accountancy and professional		fees					5,138	11,626
							11,752	17,326
Total resources expended							1,568,821	1,369,234
Net expenditure							(92,039)	(303,427)