Charity Registration No. 1130234
Company Registration No. 06910301 (England and Wales)
BRACKNELL GYMNASTICS CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
BRACKNELL GYMNASTICS CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr P Tranckle Mrs L A Barker Mr D Crann Mr A Smith Charity number 1130234 Company number 06910301 Registered office 4 Alexander Close Finchampstead Wokingham Berkshire RG40 3GB Independent examiner Warner Wilde Limited 4 Marigold Drive Bisley Surrey United Kingdom GU24 9SF Bankers Lloyds TSB - Bracknell High Street Bracknell Berkshire RG12 2QT
BRACKNELL GYMNASTICS CLUB
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
BRACKNELL GYMNASTICS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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
The charity's objects are to foster and promote the community participation in healthy recreation, for the benefit of the inhabitants of Bracknell and the surrounding districts. The policies adopted in furtherance of these objects are the provision of facilities and coaching for gymnasts and there has been no change in these during the year.
During the period the charity achieved its objectives by running regular coaching sessions for gymnasts six times a week in three different disciplines: Team Gym, Cheerleading and Freestyle Gymnastics.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Due to the COVID-19 Pandemic there were no British Championships in 2020.
Activity from March to July 2020 has been via remote systems such as Zoom for home exercise.
15 gymnasts from Bracknell were selected to represent GBR just before the first national lockdown in March 2020. Through the course of the pandemic the European Championships were rescheduled twice. Due to other local clubs folding during the pandemic the club is now supporting 25 gymnasts in their preparation for the European Championships (rescheduled for Dec 2021) .
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
At the balance sheet date the charity held £203,421 (2019: £143,188) of unrestricted reserves and £4,406
(2019: £5,874) of restricted reserves.
The trustees h ave assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity adopts the British Gymnastics child protection policy and codes of conduct for coaches and volunteers, communications policy, travel policy and risk assessment control procedures.
Structure, governance and management
The charity is a company limited by guarantee , it was incorporated as a company on 19 May 2009 and registered as a charity on 19 June 2009 .
- 1 -
BRACKNELL GYMNASTICS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr P Tranckle
Mrs L A Barker
Mr D Crann
Mr A Smith
Trustees are identified through contacts of the existing trustees, they will have the necessary skills identified as required for the trustee vacancy. Potential trustees are then invited to a meeting on a trial basis before a recommendation is made. The trustee is then voted in by the members.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity is managed by the four trustees (at least half of whom have gymnastics coaching qualifications). A team of self-employed coaches run the coaching sessions. The trustees organise events, training camps and entry to competitions.
The charity is affiliated with British Gymnastics. All members are affiliates of British Gymnastivs and all coaches must have Disclosure and Barring Service (DBS) checks. In addition the charity must have a trained welfare officer. The charity has also met the requirements of 'GYMark', the British Gymnastics Club mark standard.
Trustees are included and trained on appointment, existing trustees go through specific expectations and responsibilities. They are also provided with a copy of the Charity Commission booklet on trustee responsibilities.
The trustees' r eport was approved by the Board of Trustees.
..............................
Mr P Tranckle Trustee Dated: ......................... 26.05.21
- 2 -
BRACKNELL GYMNASTICS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRACKNELL GYMNASTICS CLUB I reF to the truslaes on my examlnallon of tho flnand81 stateMts of Brad(ndl Gymna8tlc8 Club {th8 hadtyl for the year gnded 31 Au¥mist 2020. R•spon8lbllStl•• and bul8 of r•port As the trust¢e$ of the thanty land also its dir8d for tho wrposes of company law) you are responslble for the preparation of the financi stat8m8nts in acwrdanr* with th8 rgquiremonls of the Companigs Act 2( Ith8 2006 Act). Ha9 salsfied myself thot flnanc181 slatemants of tha chadty are Mt requlyed to be audltsd undèr Part 16 01 the 2006 Act and are eligible for independent examlnation. I rowrt in resp6ct of my 8xamingtion of the charl5 financi81 stslem8nl8 carded tt under Section 145 of the Charities Aca 2011 (the 2011 Act). In carrying out my examlnalion I have fdknw8d all th$ opplicablg Dlro¢tions gfvon by tho Charfty Commi88lon und•r s•¢Uon 14515Xb) of tho 2011 Ind•pond•nt oxamlMrf• •t•tsm•nt I have completsd my examination. I confimi that no matters have c(rfne to my ottontion In ¢onnectlon wth the gxamlnaUon glvlng me cause to bdleve that In ar)y matsdal resp accounllng record8 wer8 not kept In rè8P8Ct of t as rèqulr8d by 88¢Uon 386 of thè 2006 Act., or th6 flnand818tat6ments do Mt atr wllh tho8• roconl#; or the finanrAal statements do not comF4y the accounting requiremonts of sectlon 398 of tho 2006 Act other Ih8n any requlr8m6nl that the accounts dve a true and falr vlaw whlch is not a matter consldarad as part of on lThJgpgndonl oxamlnauon,. c the nandal Statements have not beon preparod In accordance wlth the m6lhod8 and pdndplas of the Statsm8nl of RecLJmm8nd8d Prad¢e for accoLtIng and rgF¥yllng by charfJes appllcable to charlues preparlng accounts in accordancè wllh tho Fknandal Rèr<Jrllng Standard appticabl8 In th8 UK and Ropubllc of Ireland (FRS 102}. I have no concerns and have coma across no other mattern In connedon wtth the examlnatbon to whlch attention Should bo drawn in this report in order to enable a pnyr understanding of the finane4al Statements to bè re8cd. F J Wldè FCCA DChA Wamer Wldg Llm 4 Marlgokl Drive BIaY Surrey GU24 gSF Unlt9d Klngdc Ll M loil
BRACKNELL GYMNASTICS CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income and endowments from: Donations and legacies 3 8,283 - Charitable activities 4 175,259 - Investments 5 47 - Other income 6 2,354 - Total income 185,943 - Expenditure on: Raising funds 7 10,290 - Charitable activities 8 115,420 1,468 Total resources expended 125,710 1,468 Net income/(expenditure) for the year/ Net movement in funds 60,233 (1,468) Fund balances at 1 September 2019 143,188 5,874 Fund balances at 31 August 2020 203,421 4,406 |
TotalUnrestricted Restricted funds funds 2020 2019 2019 £ £ £ 8,283 16,455 250 175,259 91,527 - 47 55 - 2,354 - - 185,943 108,037 250 10,290 8,171 - 116,888 81,639 2,703 127,178 89,810 2,703 58,765 18,227 (2,453) 149,062 124,961 8,327 207,827 143,188 5,874 |
Total 2019 £ 16,705 91,527 55 - 108,287 8,171 84,342 92,513 15,774 133,288 149,062 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
BRACKNELL GYMNASTICS CLUB
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Fixed assets 12 Tangible assets Current assets 13 Debtors Cash at bank and in hand Creditors: amounts falling due within 14 one year Net current assets Total assets less current liabilities Income funds 16 Restricted funds Unrestricted funds |
2020 £ 4,082 138,463 142,545 (11,548) |
£ 76,830 130,997 207,827 4,406 203,421 207,827 |
2019 £ 1,000 134,415 135,415 (29,339) |
£ 42,986 106,076 |
|---|---|---|---|---|
| 149,062 | ||||
| 5,874 143,188 |
||||
| 149,062 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2020.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 26[th] May 2021
.............................. Mr P Tranckle Trustee
Company Registration No. 06910301
- 5 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Bracknell Gymnastics Club is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Alexander Close, Finchampstead, Wokingham, Berkshire, RG40 3GB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements Over term of lease Plant and equipment 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at recoverable amount.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price and subsequently carried at amount payable .
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amo unt payable.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
- 7 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| UnrestrictedUnrestricted Restricted funds funds funds 2020 2019 2019 £ £ £ Donations and gifts 3,283 16,455 250 Grants receivable 5,000 - - 8,283 16,455 250 Grants receivable for core activities Bracknell Forest Council 5,000 - - 5,000 - - Charitable activities 2020 £ Event income 52,018 Coaching fees 107,824 Shop sales 6,842 Room hire 8,575 175,259 |
Total 2019 £ 16,705 - 16,705 - - 2019 £ 62,428 9,093 3,949 16,057 91,527 |
|---|---|
4 Charitable activities
- 8 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
5 Investments
| 6 7 |
UnrestrictedUnrestricted funds funds 2020 2019 £ £ Interest receivable 47 55 Other income Unrestricted Total funds 2020 2019 £ £ Miscellaneous income 2,354 - Raising funds UnrestrictedUnrestricted funds funds 2020 2019 £ £ Trading costs Other trading activities 10,290 8,171 10,290 8,171 |
|---|---|
- 9 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
8 Charitable activities
| Depreciation and impairment Gymnastics coaching Membership and insurance fees Events costs Training fees Share of support costs (see note 9) Share of governance costs (see note 9) Analysis by fund Unrestricted funds Restricted funds |
2020 £ 6,407 78,665 78 12,966 636 98,752 17,008 1,128 116,888 115,420 1,468 116,888 |
2019 £ 7,675 11,745 487 26,988 1,182 48,077 32,916 3,349 84,342 81,639 2,703 84,342 |
|---|---|---|
- 10 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
9 Support costs
| Support costs Governance costs £ £ Office/ hall rental 496 - Admin fee 7,005 - Miscellaneous expenses 782 - Bank charges 2,570 - Other office costs 2,758 - Repairs and small equipment 3,397 - Legal and professional - - Independent Examination fees - 1,128 17,008 1,128 Analysed between Charitable activities 17,008 1,128 |
2020 Support costs Governance costs £ £ £ 496 980 - 7,005 14,241 - 782 9,975 - 2,570 798 - 2,758 1,112 - 3,397 5,810 - - - 2,245 1,128 - 1,104 18,136 32,916 3,349 18,136 32,916 3,349 |
2019 £ 980 14,241 9,975 798 1,112 5,810 2,245 1,104 36,265 36,265 |
|---|---|---|
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year , except as disclosed in note 18.
11 Employees
There were no employees during the year.
- 11 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 12 | Tangible fixed assets | ||||
|---|---|---|---|---|---|
| Leasehold | Plant and | Total | |||
| improvements | equipment | ||||
| £ | £ | £ | |||
| Cost | |||||
| At 1 September 2019 | 23,027 | 109,103 | 132,130 | ||
| Additions | 38,678 | 1,574 | 40,252 | ||
| At 31 August 2020 | 61,705 | 110,677 | 172,382 | ||
| Depreciation and impairment | |||||
| At 1 September 2019 | - | 89,144 | 89,144 | ||
| Depreciation charged in the year | - | 6,408 | 6,408 | ||
| At 31 August 2020 | - | 95,552 | 95,552 | ||
| Carrying amount | |||||
| At 31 August 2020 | 61,705 | 15,125 | 76,830 | ||
| At 31 August 2019 | 23,027 | 19,959 | 42,986 | ||
| Leasehold improvements will be depreciated over the term of the lease once the asset has been brought | |||||
| into use | |||||
| 13 | Debtors | ||||
| 2020 | 2019 | ||||
| Amounts falling due within one year: | £ | £ | |||
| Other debtors | 4,082 | 1,000 | |||
| 14 | Creditors: amounts falling due within one year | ||||
| 2020 | 2019 | ||||
| Notes | £ | £ | |||
| Deferred income | 15 | 3,420 | - | ||
| Accruals | 8,128 | 29,339 | |||
| 11,548 | 29,339 | ||||
| 15 | Deferred income | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Other deferred income | 3,420 | - |
- 12 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at | Resources | Balance at | Resources | Balance at | |
|---|---|---|---|---|---|
| 1 September | expended | 1 September | expended | 31 August | |
| 2018 | 2019 | 2020 | |||
| £ | £ | £ | £ | £ | |
| Sport England | 3,164 | (791) | 2,373 | (593) | 1,780 |
| Get Berkshire Active | 495 | (495) | - | - | - |
| British Gymnastics | 2,115 | (529) | 1,586 | (397) | 1,189 |
| ESC Lottery Fund | 2,553 | (638) | 1,915 | (478) | 1,437 |
| 8,327 | (2,453) | 5,874 | (1,468) | 4,406 |
The Sport England and British Gymnastics grants brought forward were used to purchase equipment. Equipment depreciation is offset against the remaining balance as it arises.
The ESC Lottery Fund was used, in part, to fund coaching courses. The balance was used to purchase equipment. Equipment depreciation is offset against the remaining balance as it arises.
The Get Berkshire Active grant was for 'Gymnastics for All'
17 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2020 2020 £ £ Fund balances at 31 August 2020 are represented by: Tangible assets 72,424 4,406 Current assets/ (liabilities) 130,997 - 203,421 4,406 |
TotalUnrestricted funds Restricted funds 2020 2019 2019 £ £ £ 76,830 37,112 5,874 130,997 106,076 - 207,827 143,188 5,874 |
Total 2019 £ 42,986 106,076 149,062 |
|---|---|---|
- 13 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
18 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel, who are also directors, is as follows.
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 6,600 | 14,616 |
Mr P Tranckle, a director and trustee, invoices the charity for club management services. The payments are permitted by the Memorandum and Articles of Association of the company.
- 14 -