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 2022
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 2022
The trustees present their annual report and financial statements for the year ended 31 August 2022.
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 in multiple disciplines, including 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
The 23 gymnasts who represented GBR in 2021 received the Pride of Bracknell ‘Team’ Award. Of those 23 gymnasts, they achieved: 7 bronze medals, 10 silver medals, 1 gold medal and European title. One was also awarded the ‘All Stars’ for his performance on Tumble at the Europeans.
6 teams qualified for the British Championships across 4 age groups. The Youth Black team won the British title. At the Championships another three of our senior gymnasts were recognised with the award of ‘Master Gymnast’ for their international representation.
One gymnast was also selected to represent GBR in Portugal for DMT at the Scalabis where she won gold medals in team and individual competition.
13 gymnasts were selected to represent GBR in Luxembourg for the European Championships in 2022 (scheduled for September).
Two coaches passed their Level 2 TeamGym coaching qualifications. One also passed his Level 1 Trampoline coaching qualification.
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 £301,695 (2021: £253,005) of unrestricted reserves and £2,479 (2021: £3,305) 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.
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BRACKNELL GYMNASTICS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
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 .
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
19.05.23 Date: .............................................
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BRACKNELL GYMNASTICS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRACKNELL GYMNASTICS CLUB I rewt to the trustoos on my •xamlnatlon of th8 fInaal sts1•mts of Brackn8U GyTnnostiGs Club (the chartty) for the year ended 31 August 2022. R•8ponslbllltl•s and basls of rnport As tha trustees of the charity land a150 its direct5 for the purposes of txmpany lawl you are responsible for the preparation of tho Ilnandal 81atwmonts kn accxdanc with thg ruirementS of tho Companie8 Act 2006 {th0 2006 Act). Havlng 8atl8ffi8d th81 the flnarJa 8tstemwts of the ¢harlty 8r8 nol requlred to b8 audltod under Part 18 of the 2006 Act and are ellgibb lor independent examlnation, I report in r¢spe¢l of my oxamk)atSon of the charitys financial statements carried r¥Jt under section 145 of the Charilies Act 2011 {thè 2011 Actl. In Catyng Out my •xamination I have followed all the appIThb DYectior given by the Charity Commi881on under seOn 14515} Ib) of tho 2011 Act knd•p•nd•nt •xamln•rf• •tat•m•nt Sin¢8 cha3 gro$8 income exceed&d £250.000 your oxamlngr nist bo o m8mbar of a t¥)dy 11818d In 8eclkJn 145 of the 2011 Act. l ¢onflrm that l am qualtlled to undertake tho examlnauon because l am o momber of . whSch15 one of the Ilsled bodles. I have compl•led my •mInatIon. I conflm) that Th) matt•rs have c>)me to my attentlon In conn8don wyth tha examSnafjorb gin9 rne cause to believe that in any material resp) accounting rerS werg rKJt kept in respoci ol tho ¢harity as r¢quirgd by Sacti 386 of the 2008Act'. or thg flnandal stslements ¢$) not ffXLvd wllh th080 c thg flnan¢lal stat8m8nts do not compty wSth Ihe accounung T•qulrom8nts of sect1 396 of th& 2006 Act othgr than 8ny raqulremgnt that tha accounts give a Irue and lair view is not a matt8r considered as part ol an Indépendent examln8lon', or the flnan¢lal Stalemtrnls have not be ywred kn actordanc• wllh tho Ththod$ and prlndpl•s of th• Stslement of Recommended Pradce for accounting and reportlng by d)arftl&$ appIlble to charftlgs preparing their accounts in accordarth with tho FInaral Reporting Standard appli¢abia in the UK and Republ1¢ of Iroland IFRS 102). I have no concm8 and havo m acrcA8 no olh6r mattern in c¢nnec*on th thè examination to whlch attonuon 8hould ba drawn In INS report In order to enable o prop8r underBtsndlng of Ihe flnand81 Statsments to b rfjadd. F J Wlldo FCCA DChA Warner Wik18 Llmii8d 4 Marlgold Dr8 Bi81ey Surroy GU24 9SF United Kingdom
BRACKNELL GYMNASTICS CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 27,476 - Charitable activities 4 290,739 - Investments 5 18 - Total income 318,233 - Expenditure on: Raising funds 6 14,976 - Charitable activities 7 254,459 826 Other 11 105 - Total expenditure 269,540 826 Net income/(expenditure) for the year/ Net movement in funds 48,693 (826) Fund balances at 1 September 2021 253,002 3,305 Fund balances at 31 August 2022 301,695 2,479 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 27,476 5,552 - 290,739 211,226 - 18 9 - 318,233 216,787 - 14,976 4,290 - 255,285 162,916 1,101 105 - - 270,366 167,206 1,101 47,867 49,581 (1,101) 256,307 203,421 4,406 304,174 253,002 3,305 |
Total 2021 £ 5,552 211,226 9 216,787 4,290 164,017 - 168,307 48,480 207,827 256,307 |
|---|---|---|
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.
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BRACKNELL GYMNASTICS CLUB
BALANCE SHEET
AS AT 31 AUGUST 2022
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds 16 Unrestricted funds |
2022 £ 1,644 265,388 267,032 (44,557) |
£ 81,699 222,475 304,174 2,479 301,695 304,174 |
2021 £ 2,765 171,149 173,914 (11,145) |
£ 93,538 162,769 256,307 3,305 253,002 256,307 |
|---|---|---|---|---|
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 2022.
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.
19.05.23
The financial statements were approved by the Trustees on ......................... 19.05.23
..............................
Mr P Tranckle Trustee
Company registration number 06910301
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
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.
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
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 Plant and equipment
Over term of lease 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.
There is a deminimus for capitalisation of £300.
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.
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
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 | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 27,476 | 2,482 |
| Grants receivable | - | 3,070 |
| 27,476 | 5,552 | |
| Grants receivable for core activities | ||
| English Sports Council Lottery Fund | - | 2,520 |
| Bracknell Forest Council | - | 550 |
| - | 3,070 |
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
4 Charitable activities
| Event income Coaching fees Shop sales Room hire |
2022 £ 46,252 223,264 7,617 13,606 290,739 |
2021 £ 5,903 195,600 1,000 8,723 211,226 |
|---|---|---|
5 Investments
| 6 | UnrestrictedUnrestricted funds funds 2022 2021 £ £ Interest receivable 18 9 18 9 Raising funds UnrestrictedUnrestricted funds funds 2022 2021 £ £ Trading costs Other trading activities 14,976 4,290 14,976 4,290 |
|---|---|
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
7 Charitable activities
| Depreciation and impairment Gymnastics coaching Events costs Training fees Grant funding of activities (see note 8) Share of support costs (see note 9) Share of governance costs (see note 9) Analysis by fund Unrestricted funds Restricted funds 8 Grants payable Grants to individuals |
2022 £ 16,027 136,050 45,124 791 197,992 113 55,902 1,278 255,285 254,459 826 255,285 2022 £ 113 113 |
2021 £ 8,249 118,122 8,929 55 135,355 - 27,474 1,188 164,017 162,916 1,101 164,017 2021 £ - - |
|---|---|---|
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
9 Support costs
| Support costs Governance costs £ £ Office/ hall rental 46,177 - Admin fee 807 - Miscellaneous expenses 159 - Bank charges 5,187 - Other office costs 1,424 - Repairs and small equipment 2,148 - Independent Examination fees - 1,278 55,902 1,278 Analysed between Charitable activities 55,902 1,278 |
2022 Support costs Governance costs £ £ £ 46,177 19,058 - 807 134 - 159 246 - 5,187 3,599 - 1,424 1,442 - 2,148 2,995 - 1,278 - 1,188 57,180 27,474 1,188 57,180 27,474 1,188 |
2021 £ 19,058 134 246 3,599 1,442 2,995 1,188 28,662 28,662 |
|---|---|---|
10 Trustees
None of the trustees ( or any persons connected with them ) received any remuneration or benefits from the charity during the year . (2021: none).
11 Other
| Net loss on disposal of tangible fixed assets | 2022 £ 105 105 |
2021 £ - - |
|---|---|---|
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
| 12 Tangible fixed assets Leasehold improvements Plant and equipment £ £ Cost At 1 September 2021 83,903 113,435 Additions - 4,293 Disposals - (250) At 31 August 2022 83,903 117,478 Depreciation and impairment At 1 September 2021 4,937 98,863 Depreciation charged in the year 11,995 4,032 Eliminated in respect of disposals - (145) At 31 August 2022 16,932 102,750 Carrying amount At 31 August 2022 66,971 14,728 At 31 August 2021 78,966 14,572 13 Debtors 2022 Amounts falling due within one year: £ Other debtors 1,644 1,644 14 Creditors: amounts falling due within one year 2022 Notes £ Deferred income 15 25,901 Accruals 18,656 44,557 15 Deferred income 2022 £ Other deferred income 25,901 |
Total £ 197,338 4,293 (250) 201,381 103,800 16,027 (145) 119,682 81,699 93,538 2021 £ 2,765 2,765 2021 £ 9,000 2,145 11,145 2021 £ 9,000 |
|---|---|
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
15 Deferred income
(Continued)
Deferred income is included in the financial statements as follows:
| Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 September 2021 Released from previous periods Resources deferred in the year Deferred income at 31 August 2022 |
2022 £ 25,901 9,000 (9,000) 25,901 25,901 |
2021 £ 9,000 3,420 (3,420) 9,000 9,000 |
|---|---|---|
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 | |
| 2020 | 2021 | 2022 | |||
| £ | £ | £ | £ | £ | |
| Sport England | 1,780 | (445) | 1,335 | (334) | 1,001 |
| British Gymnastics | 1,189 | (297) | 892 | (223) | 669 |
| ESC Lottery Fund | 1,437 | (359) | 1,078 | (269) | 809 |
| 4,406 | (1,101) | 3,305 | (826) | 2,479 |
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'
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BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
| 17 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 August 2022 are represented by: Tangible assets 81,699 - Current assets/ (liabilities) 219,996 2,479 301,695 2,479 |
TotalUnrestricted funds Restricted funds 2022 2021 2021 £ £ £ 81,699 90,233 3,305 222,475 162,769 - 304,174 253,002 3,305 |
Total 2021 £ 93,538 162,769 256,307 |
|---|---|---|
18 Related party transactions
There were no related party transactions in the year (2021: none).
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