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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|11|
|Report ofthe Independent<br>Auditors|12|to|14|
|Statement ofFinancial<br>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|





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



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||for|the Year|Ended 31 Ma<br>2|023|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||Unrestricted|Restricted|Total|Total|
||||fund|fund|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations<br>and legacies|||45,154||45,154|18,607|
|Charitable<br>activities|||||||
|Gymnastics|||1,535,992||1,535,992|1,370,110|
|Other trading activities<br>Investment<br>income|||76,254<br>969||76,254<br>969|62,531<br>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<br>activities<br>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<br>forward|||575,571||575,571|667,610|
|TOTAL FUNDS CARRIED FORWARD|||497,089||497,089|575,571|





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|||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<br>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<br>falling due atter more than one year|19|(132,386)|(192,618)|
|NET ASSETS||497,089|575,571|
|FUNDS|23|||
|Unrestricted<br>funds||497,089|575,571|
|TOTAL FUNDS||497,089|575,571|





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





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||||||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 <br>Debts fafling|due within<br>1 year<br> due after 1 year|||(57,382)<br>(192,618)|(2,851)<br>60,232|(60,233)<br>(132,386)|
|||||(250,000)|57,381|(192,619)|
|Total||||214,163|(12,850)|201,313|





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





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||Notes to the Financ<br>teme<br>for the Year Ended<br>a|Notes to the Financ<br>teme<br>for the Year Ended<br>a|-continued<br>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<br>fees<br>Training costs<br>Sundry equipment k maintenance<br>Travelling<br>contributions<br>Sponsorship<br>fees<br>Depreciation|||26,943<br>6,000<br>5,681<br>18,272<br>14,520<br>82,323|15,817<br>15,134<br>5,087<br>18,315<br>20,025<br>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)<br>is stated after charging/(crediting|):||
|---|---|---|---|
|||2023|2022|
|Auditors'|remuneration|7,828|6,614|
|Depreciation - owned assets||82,327|82,763|





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|||Notes to the Finan<br>ial Stateme<br>-<br>for the Year Ende<br>31Ma<br>20|ntinued|||
|---|---|---|---|---|---|
|14.|COMPARATIVES|FORTHE STATEMENT OF FINANCIAL|ACTIVITIES|- continued||
||||Unrestricted|Restricted|Total|
||||fund|fund|funds|
||Net movement<br>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<br>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|





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||||<br>for the Year Ended 31Ma<br>2023|||
|---|---|---|---|---|---|
|18.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR|2023|2022|
||Other loans (see note 20)<br>Trade creditors|||60,233<br>5,185|57,382<br>1,861|
||Other creditors||||571|
||Acrruals<br>and prepaid<br>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<br>falling due within<br>one year on demand:<br>Other loans|||60,233|57,382|
||Amounts<br>faBing between<br>Other loans - 1-2 years|one|and two years:|64,622|60,233|
||Amounts<br>falling due between<br>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<br>liabilities<br>Long term liabilities||(112,536)<br>(132,386)||(112,536)<br>(132,386)|(102,554)<br>(192,618)|
|||497,089||497,089|575,571|





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|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<br>funds|||||||||||||
|Charitable<br>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)|





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



||A current ye<br>as follows:|ar 12 months<br>and prior year 12 months<br>|combined<br>net movement<br>in|funds, included<br>i|n the above<br>|
|---|---|---|---|---|---|
||||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||||





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





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