**Charity registration number 1130234** **Company registration number 06910301 (England and Wales)** ## **BRACKNELL GYMNASTICS CLUB** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2021** ## **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 - 13| ## **BRACKNELL GYMNASTICS CLUB** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ The trustees present their annual report and financial statements for the year ended 31 August 2021. 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 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 four different disciplines: Team Gym, General Gymnastics, Freestyle Gymnastics and DMT (Double Mini Trampoline). 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 in November and from January 2021 to April 2021 has been via remote systems such as Zoom for home exercise. 23 gymnasts from Bracknell were selected to represent GBR in March 2021 for the rescheduled European Championships in December 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 £253,002 (2020: £203,421) of unrestricted reserves and £3,305 (2020: £4,406) 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 2021**_ 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** Date: ............................................. 25th May 2022 - 2 - BRACKNELL GYMNASTICS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRACKNELL GYMNASTICS CLUB I report lo th8 trust88s on my e￿MInatiOn ofthè statements of Brackn811 Gymnaslics Club (the tharityl for the year ended 31 August 2021. R•sponslbllltl•s and ba•l¥ of vwirt As the trustees of the charity land also Its dlrecth for th8 purposes of cornpany lawl y(xi are responsltA8 for th8 pr8p8rats.on of thg financial slatements In aL*)rd￿¢6 wllh thè raqulrow*nls of th8 Companies Act 2006 {the 2006 Acll. H￿ng satlsfied myseff that the flnandal 8tatements ol th8 chadty a￿ nol rgqukgd to b& audlted under Part 16 of the 2006 Act 8nd Brè digibl8 for independent examination. I rewt in respect of ry gxamlnallon of the charitys flnandal statements cafrled un¢i8r 8ecllon 145 of the Charities Act 2011 (the 2011 Act). In carylng Out my examinauon I have followed all the applKable Dire¢lion$ by the Charity Commission under section 14515) Ib) of th• 2011 Act. ￿do￿nd0nt •xamln•rfs •tstam•nt I h8Vg complatad my 9xamlnat￿. I confirm that no rnattw3 have to my atlenuon In rJ)nnocllon wlh th •xamlnall¢)n gmng mo ￿U$9 to bellov8 that in any material respect: gccountSng fecofds were ￿1 kept In resped of the chartty a8 r•qulr•d by 8•cUon 386 of tho 2￿6 Ad: or tha financlal 8tateThnts do rbot accord with tIK*e ￿¢?)r￿S,. or Ihe fln8ndal st8lem8nts do nol comFty ¥￿th thg accountiro roqulreff•nt8 018odon 396 of the 2006 Act othar than any r•quirom8nt that th8 aD)yJnt8 gfvè a Irnè and falr vlow %thlth Is a matt•r conshl8rod 88 part of an Independent examingtion.. Ihg fln8ndal ststam8nts havo not b8an propornd In acc**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
5,552
-
Charitable activities
**4**
211,226
-
Investments
**5**
9
-
Other income
**6**
-
-
**Total income**
216,787
-
**Expenditure on:**
Raising funds
**7**
4,290
-
Charitable activities
**8**
162,916
1,101
**Total expenditure**
167,206
1,101
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
49,581
(1,101)
Fund balances at 1
September 2020
203,421
4,406
**Fund balances at 31 August**
**2021**
253,002
3,305|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2020**
**2020**
**£**
**£**
**£**
5,552
8,283
-
211,226
175,259
-
9
47
-
-
2,354
-
216,787
185,943
-
4,290
10,290
-
164,017
115,420
1,468
168,307
125,710
1,468
48,480
60,233
(1,468)
207,827
143,188
5,874
256,307
203,421
4,406|**Total**
**2020**
**£**
8,283
175,259
47
2,354
185,943
10,290
116,888
127,178
58,765
149,062
207,827| |---|---|---| 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 2021**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**15**
Unrestricted funds|**2021**
**£**
2,765
171,149
173,914
(11,145)|**£**
93,538
162,769
256,307
3,305
253,002
256,307|**2020**
**£**
4,082
138,463
142,545
(11,548)|**£**
76,830
130,997
207,827
4,406
203,421
207,827| |---|---|---|---|---| 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 2021. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 ......................... 24th May 2022 .............................. Mr P Tranckle **Trustee** ## **Company registration number 06910301** - 5 - ## **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **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 2021**_ ## **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 2021**_ ## **1 Accounting policies** **(Continued)** ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **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| |---|---|---| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Donations and gifts|2,482|3,283| |Grants receivable|3,070|5,000| ||5,552|8,283| |**Grants receivable for core activities**||| |English Sports Council Lottery Fund|2,520|-| |Bracknell Forest Council|550|5,000| ||3,070|5,000| - 8 - ## **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **4 Charitable activities** |Event income
Coaching fees
Shop sales
Room hire|**2021**
**£**
5,903
195,600
1,000
8,723
211,226|**2020**
**£**
52,018
107,824
6,842
8,575
175,259| |---|---|---| **5 Investments** |**6**
**7**|**Unrestricted**Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
9
47
**Other income**
**Total**Unrestricted
funds
**2021**
2020
**£**
£
Miscellaneous income
-
2,354
**Raising funds**
**Unrestricted**Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Trading costs
Other trading activities
4,290
10,290
4,290
10,290| |---|---| - 9 - ## **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **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
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Office/ hall rental
19,058
-
Admin fee
134
-
Miscellaneous expenses
246
-
Bank charges
3,599
-
Other office costs
1,442
-
Repairs and small
equipment
2,995
-
Independent
Examination fees
-
1,188
27,474
1,188
Analysed between
Charitable activities
27,474
1,188|**2021**
**£**
19,058
134
246
3,599
1,442
2,995
1,188
28,662
28,662|**2021**
**£**
8,249
118,122
-
8,929
55
135,355
27,474
1,188
164,017
162,916
1,101
164,017
Support
costs
Governance
costs
£
£
496
-
7,005
-
782
-
2,570
-
2,758
-
3,397
-
-
1,128
17,008
1,128
17,008
1,128|**2020**
**£**
6,407
78,665
78
12,966
636
98,752
17,008
1,128
116,888
115,420
1,468
116,888
2020
£
496
7,005
782
2,570
2,758
3,397
1,128
18,136
18,136| |---|---|---|---| ## **9 Support costs** - 10 - **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **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 Tangible fixed assets** |**Leasehold**
**improvements**
**Plant and**
**equipment**
**£**
**£**
**Cost**
At 1 September 2020
61,705
110,676
Additions
22,198
2,759
At 31 August 2021
83,903
113,435
**Depreciation and impairment**
At 1 September 2020
-
95,551
Depreciation charged in the year
4,937
3,312
At 31 August 2021
4,937
98,863
**Carrying amount**
At 31 August 2021
78,966
14,572
At 31 August 2020
61,705
15,125|**Total**
**£**
172,381
24,957
197,338
95,551
8,249
103,800
93,538
76,830| |---|---| Leasehold improvements will be depreciated over the term of the lease once the asset has been brought into use ## **12 Debtors** |**Amounts falling due within one year:**
Other debtors
**13**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**14**
Accruals|**2021**
**£**
2,765
**2021**
**£**
9,000
2,145
11,145|**2020**
**£**
4,082
**2020**
**£**
3,420
8,128
11,548| |---|---|---| - 11 - ## **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **14 Deferred income** |**2021**
**£**
Other deferred income
9,000
Deferred income is included in the financial statements as follows:
**2021**
**£**
Deferred income is included within:
Current liabilities
9,000
Movements in the year:
Deferred income at 1 September 2020
3,420
Released from previous periods
(3,420)
Resources deferred in the year
9,000
Deferred income at 31 August 2021
9,000|**2020**
**£**
3,420
**2020**
**£**
3,420
3,420
-
-
3,420| |---|---| ## **15 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**| ||**2019**||**2020**||**2021**| ||**£**|**£**|**£**|**£**|**£**| |Sport England|2,373|(593)|1,780|(445)|1,335| |British Gymnastics|1,586|(397)|1,189|(297)|892| |ESC Lottery Fund|1,915|(478)|1,437|(359)|1,078| ||5,874|(1,468)|4,406|(1,101)|3,305| 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' - 12 - ## **BRACKNELL GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ |**16**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
August 2021 are
represented by:
Tangible assets
90,233
3,305
Current assets/
(liabilities)
162,769
-
253,002
3,305|**Total**Unrestricted
funds
Restricted
funds
**2021**
2020
2020
**£**
£
£
93,538
72,424
4,406
162,769
130,997
-
256,307
203,421
4,406|Total
2020
£
76,830
130,997
207,827| |---|---|---| ## **17 Related party transactions** ## **Remuneration of key management personnel** The remuneration of key management personnel, who are also directors, is as follows. ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |Aggregate compensation|-|6,600| 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. - 13 -