**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 stateM￿ts 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). Ha￿￿9 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 charl￿5 financi81 stslem8nl8 carded t￿t 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 at￿r￿ 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 accoL￿tIng and rgF¥yllng by charfJes appllcable to charlues preparlng accounts in accordancè wllh tho Fknandal Rèr**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|**Total**Unrestricted
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** |**Unrestricted**Unrestricted
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**|**Unrestricted**Unrestricted
**funds**
funds
**2020**
2019
**£**
£
Interest receivable
47
55
**Other income**
**Unrestricted**
Total
**funds**
**2020**
2019
**£**
£
Miscellaneous income
2,354
-
**Raising funds**
**Unrestricted**Unrestricted
**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|**Total**Unrestricted
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 -