2023-05-31-accounts - South Essex Gymnastics Club Limited

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		Page
Report ofthe Trustees	1	to	11
Report ofthe Independent Auditors	12	to	14
Statement ofFinancial Activities		15
Balance Sheet		16
Cash Flow Statement		17
Notes to the Cash Flow Statement		18
Notes to the Financial Statements	19	to	27
Detailed Statement ofFinancial Activities	28	to	29

Over ' f he men's ro ra	mme:
Between June 2022 and May	2023, we also had	seventeen	MAG gynmasts	selected on to National	squads:
Senior GBRSquad	GBRFoundation Squad
Max Whitlock OBE	Sebastian Solomos
Courtney Tulloch	Reuben Montrose
Hayden Skinner	Harry	Smallshaw
Pavel Karnejenko	Dylan	Wright
Junior GBRSquad	Junior Bulgarian Squad
George Atkins	Yoan	Ivanov
Alex Niscoveanu	David	Ivanov
Danny Crouch
GBRDevelopment Squad	Junior Indian	Squad
Deshai Knights	Mann	Kothari
Kaydn Jackson
Leo Cozens-Boutall

	for	the Year	Ended 31 Ma 2	023
					2023	2022
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			45,154		45,154	18,607
Charitable activities
Gymnastics			1,535,992		1,535,992	1,370,110
Other trading activities Investment income			76,254 969		76,254 969	62,531 11
Other income			1,381		1,381	25,523
Total			1,659,750		1,659,750	1,476,782
EXPENDITURE ON
Raising funds		7	10,921		10,921	23,806
Charitable activities Gymnastics		8	1,727,311		I 727 311	I 545 015
Total			1,738,232		1,738,232	1,568,821
NET INCOME/(EXPENDITURE)			(78,482)		(78,482)	(92,039)
RECONCILIATION	OF FUNDS
Total funds brought forward			575,571		575,571	667,610
TOTAL FUNDS CARRIED FORWARD			497,089		497,089	575,571

		2023	2022
	Notes
FIXEDASSETS
Tangible assets	15	284,060	341,337
CURRENT ASSETS
Stocks	16	9,170	8,313
Debtors	17	54,849	56,930
Cash at bank		393,932	464,163
		457,951	529,406
CREDITORS
Amounts falling due within one year	18	(112,536)	(102,554)
NET CURRENT ASSETS		345,415	426,852
TOTAL ASSETSLESSCURRENT
LIABILITIES		629,475	768,189
CREDITORS
Amounts falling due atter more than one year	19	(132,386)	(192,618)
NET ASSETS		497,089	575,571
FUNDS	23
Unrestricted funds		497,089	575,571
TOTAL FUNDS		497,089	575,571

				~hp~low
			or	r	2023
					2023	2022
			Notes			f,
Cash flows from operating activities Cash generated from operations					25,684	(199,588)
Interest paid					(14,457)
Net cash provided by/(used		in) operating	activities		]1,227	(199,588)
Cash flows from investing Purchase oftangible fixed Interest received	activities assets				(25,050) 969	(55,631) ll
Net cash used in investing	activities				(24,081)	(55,620)
Cash flows from financing		activities
Loan repayments in year					(57,377)
Net cash (used in)/provided		by financing	activities		(57,377)
Change in cash and cash the reporting period	equivalents		in		(70,231)	(255,208)
Cash and cash equivalents beginning ofthe reporting		at the period			464,163	719,371
Cash and cash equivalents the reporting period		at the end	of		393,932	464,163

					2023	2022
Net expenditure		for the reporting		period (as per the Statement of
Financial Activities)					(78,482)	(92,039)
Adjustments	for:
Depreciation	charges				82,323	82,763
Interest received					(969)	(11)
Interest paid					14,457
Increase in stocks					(857)	(4,048)
Decrease/(increase)		in debtors			2,081	(12,463)
Increase/(decrease)		in creditors			7,131	(173,790)
Net cash provided		by/(used	in) operations		25,684	(199,588)
ANALYSIS	OF CHANGES		IN NET FUNDS
				At 1.6.22	Cash flow	At 31.5.23
					f
Net cash
Cash at bank				464,163	(70,231)	393,932
				464,163	(70,231)	393,932
Debt
Debts falling Debts fafling	due within 1 year due after 1 year			(57,382) (192,618)	(2,851) 60,232	(60,233) (132,386)
				(250,000)	57,381	(192,619)
Total				214,163	(12,850)	201,313

	h inancial me Y Ma 2	h inancial me Y Ma 2
3.	DONATIONS AND LEGACIES		2023	2022
	Fundraising events Grants		30,579 14,575	7,380 11,227
			45,154	18,607
4.	OTHER TRADING ACTIVITIES		2023	2022
	Clothing sales Children's parties		15,192 61,062	19,603 42,928
			76,254	62,531
5.	INVESTMENT INCOME		2023	2022
	Deposit account interest		969	11
	INCOME FROM CHARITABLE ACTIVITIES
			2023	2022
	Membership fees Recreation dt preschool fees	Activity Gymnastics Gymnastics	617,516 795,017	538,257 721,565
	Mother &toddler fun
	sessions Adult session fees Freestyle Miscellaneous fees Special needs fees	Gymnastics Gymnastics Gymnastics Gymnastics Gymnastics	64,311 11,277 27,571 6,004 14,296	39,179 9,111 22,811 16,801 22,386
			1,535,992	1,370,110
	RAlSING FUNDS
	Other trading activities		2023	2022
	Opening stock Purchases		8,313 11,778	4,265 27,854
	Closing stock		(9,170)	(8,3 13)
			10,921	23,806

	Notes to the Financ teme for the Year Ended a	Notes to the Financ teme for the Year Ended a	-continued 2
8.	CHARITABLE ACTIVITIES COSTS
			Direct	Support
			Costs (see	costs (see
			note 9)	note 10)	Totals
				f,
	Gymnastics		1,078,419	648,892	1,727,3 11
9.	DIRECT COSTS OF CHARITABLE ACTIVITIES
				2023	2022
	Staffcosts			879,015	757,503
	B.G.affiliation			45,665	37,615
	Competition fees Training costs Sundry equipment k maintenance Travelling contributions Sponsorship fees Depreciation			26,943 6,000 5,681 18,272 14,520 82,323	15,817 15,134 5,087 18,315 20,025 82,763
				1,078,419	952,259
10.	SUPPORT	COSTS
					Office
					staff
			Management	Finance	costs
	Gymnastics		285,469	19,388	317,727
		General
		overhead	Sundry	Governance
		costs	costs	costs	Totals
			8
	Gymnastics	14,325	1,043	10,940	648,892
11.	NET INCOME/(EXPENDITURE)

Net inco	me/(expenditure) is stated after charging/(crediting	):
		2023	2022
Auditors'	remuneration	7,828	6,614
Depreciation - owned assets		82,327	82,763

		Notes to the Finan ial Stateme - for the Year Ende 31Ma 20	ntinued
14.	COMPARATIVES	FORTHE STATEMENT OF FINANCIAL	ACTIVITIES	- continued
			Unrestricted	Restricted	Total
			fund	fund	funds
	Net movement in funds		7,961	(100,000)	(92,039)
	RECONCILIATION	OF FUNDS
	Total funds brought	forward	567,610	100,000	667,610
	TOTAL FUNDS CARRIED FORWARD		575,571		575,571
15.	TANGIBLE FIXEDASSETS
		Improvements
			to	Plant and
			property	machinery	Totals
	COST
	At 1 June 2022		230,868	862,833	1,093,701
	Additions			25,050	25,050
	At 31May 2023		230,868	887,883	1,118,751
	DEPRECIATION
	At I June 2022		45,960	706,404	752,364
	Charge for year		12,826	69,501	82,327
	At 31May 2023		58,786	775,905	834,691
	NET BOOK VALUE
	At 31May 2023		172,082	111,978	284,060
	At 31May 2022		184,908	156,429	341,337
16.	STOCKS
				2023	2022
				f	f.
	Stocks			9,170	8,313
17.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				2023	2022
	Trade debtors			7,553	14,546
	Prep ayments			47,296	42,384
				54,849	56,930

			for the Year Ended 31Ma 2023
18.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR	2023	2022
	Other loans (see note 20) Trade creditors			60,233 5,185	57,382 1,861
	Other creditors				571
	Acrruals and prepaid income			47,118	42,740
				112,536	102,554
19.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
				2023	2022
	Other loans (see note 20)			132,386	192,618
20.	LOANS
	An analysis ofthe maturity	ofloans is given below:
				2023	2022
	Amounts falling due within one year on demand: Other loans			60,233	57,382
	Amounts faBing between Other loans - 1-2 years	one	and two years:	64,622	60,233
	Amounts falling due between Other loans -2-5 years		two and five years:	67,764	132,385

				2023	2022
				8	6
In more	than five years			115,184	104,765
ANALYSIS OF NKT ASSETS BETWEEN FUNDS				2023	2022
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
					6
Fixed assets		284,060		284,060	341,337
Current	assets	457,951		457,951	529,406
Current liabilities Long term liabilities		(112,536) (132,386)		(112,536) (132,386)	(102,554) (192,618)
		497,089		497,089	575,571

MOVE	MEN	T IN FUN	DS
											Net
											movement	At
										At 1.6.22	in funds	31.5.23
Unrestricted		funds
General	fund									575,571	(78,482)	497,089
TOTAL	FUNDS									575,571	(78,482)	497,089
Net movement		in funds,	included			in the above	are as		follows:
										Incoming	Resources	Movement
										resources	expended	in funds
Unrestricted		funds
General	fund									1,659,750	(1,738,232)	(78,482)
TOTAL	FUNDS									1,659,750	(1,738,232)	(78,482)
Comparatives		for 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
Comparative		net movement		in	funds, included		in	the	above are as follows:
										Incoming	Resources	Movement
										resources	expended	in funds
Unrestricted		funds
General	fund									1,476,782	(1,568,821)	(92,039)
TOTAL	FUNDS									1,476,782	(1,568,821)	(92,039)

A current year 12 months and prior	year 12 months combined po	sition is as follow	s:
		Net	Transfers
		movement	between	At
	At 1.6.21	in funds	funds	31.5.23
Unrestricted funds
General fund	567,610	(170,521)	100,000	497,089
Restricted funds
Charitable reserve	100,000		(100,000)
TOTAL FUNDS	667,610	(170,521)		497,089

	A current ye as follows:	ar 12 months and prior year 12 months	combined net movement in	funds, included i	n the above
			Incoming	Resources	Movement
			resources	expended	in funds
					f.
	Unrestricted	funds
	General fund		3,136,532	(3,307,053)	(170,521)
	TOTAL FUNDS		3,136,532	(3,307,053)	(170,521)
24.	RELATED	PARTY DISCLOSURES

Detailed Statemen ofF f r the Ye rEnded	inancial i 31Ma 2023
	2023	2022
INCOME AND ENDOWMENTS
Donations and legacies Fundraising events Grants	30,579 14,575	7,380 11,227
	45,154	18,607
Other trading activities Clothing sales Children's parties	15,192 61,062	19,603 42,928
	76,254	62,531
Investment income
Deposit account interest	969
Charitable activities
Membership fees Recreation 4preschool fees Mother Jk toddler fun sessions	617,516 795,017 64,311	538,257 721,565 39,179
Adult session fees	11,277	9, 1 I I
Freestyle Miscellaneous fees	27,571 6,004	22,811 16,801
Special needs fees	14,296	22,386
	1,535,992	1,370,110
Other income
Room dc equipment hire Job retention scheme grants Government grants	1,381	60 18,330 7,133
	1,381	25,523
Total incoming resources	1,659,750	1,476,782
EXPENDITURE
Other trading activities Opening stock Clothing costs Closing stock	8,313 11,778 (9,170)	4,265 27,854 (8,313)
	10,921	23,806
Charitable activities
Coaching fees Social security Carried forward	800,657 53,864 854,521	687,523 48,738 736,261

				South Essex G mnastics Club	Limited
				Detailed Statement of Financial	Activities
				for the Year Ended 31 Ma	2023
						2023	2022
Charitable activities
Brought forward Pensions						854,521 24,494	736,261 21,242
B.G. aAiltation						45,665	37,615
Competition fees Training costs Sundry equipment &maintenance Travelling contributions Sponsorship fees Improvements to property Plant and inachinery						26,943 6,000 5,681 18,272 14,520 12,826 69,497	15,817 15,134 5,087 18,315 20,025 12,826 69,937
						1,078,419	952,259
Support costs
Management Rent &other hall costs						201,166	189,855
Buildings insurance Building maintenance Computer maintenance		&soflware				5,233 5,578 73,492	4,541 5,667 65,796
						285,469	265,859
Finance
Bank charges Bank loan interest						4,931 14,457	4,549
						19,388	4,549
Office staff costs General office staff						317,727	303,184
General overhead	costs
Advertising Postage and stationery Clothing						806 11,404 2,115	7 5,471 986
						14,325	6,464
Sundry costs Sundries						1,043	948
Governance costs
Auditors' remuneration						7,828	6,614
Accountancy and professional			fees			3,112	5,138
						10,940	11,752
Total resources expended						1,738,232	1,568,821
Net expenditure						(78,482)	(92,039)