Charity registration number 1130234 (England and Wales) Company registration number 06910301
BRACKNELL GYMNASTICS CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
BRACKNELL GYMNASTICS CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr P Tranckle Mrs L A Barker Mr D Crann Mr A Smith Charity number (England and Wales) 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 2024
The trustees present their annual report and financial statements for the year ended 31 August 2024.
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.
Strategies for achieving aims and objectives
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).
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
-
In July of 2023 Bracknell GC won the British title for Senior Mixed and Junior Women. In so doing, the teams also qualified for the Mid European Championships in Lingnano Sabiadoro, Italy in November. They went on to win the Mid European Championship in both of their respective categories. The achievement was featured on BBC South News.
-
In April of 2024 at the trial for the 15[th] European TeamGym Championships, 17 gymnasts from Bracknell were selected, along with 1 coach as senior member of the senior coaching team.
Several coaches also passed various coaching qualifications and add on modules across levels 1 to 3.
Financial review
Reserves policy
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 £311,753 (2023: £347,031) of unrestricted reserves and £1,395 (2023: £1,860) of restricted reserves. We have been building our reserves in anticipation of the release of the new leisure strategy for Bracknell Forest Borough Council. This has recently been released and concerns what will happen in 7- 10 years time when the centre is to be redeveloped
Major risks
The trustees have 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 2024
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
Recruitment and appointment of trustees
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.
Organisational structure
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.
Induction and training of trustees
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' report was approved by the Board of Trustees.
.............................. Mr P Tranckle Trustee 23.05.2025 Date: .............................................
- 2 -
BRACKNELL GYMNASTICS CLUB
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRACKNELL GYMNASTICS CLUB
I report to the trustees on my examination of the financial statements of Bracknell Gymnastics Club (the charity) for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
F J Wilde FCCA DChA
Warner Wilde Limited 4 Marigold Drive Bisley Surrey GU24 9SF United Kingdom
Dated: 23 May 2025
- 3 -
BRACKNELL GYMNASTICS CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 10,354 - Charitable activities 4 298,674 - Investments 5 5,141 - Total income 314,169 - Expenditure on: Raising funds 6 1,263 - Charitable activities 7 348,184 465 Other expenditure 12 - - Total expenditure 349,447 465 Net income/(expenditure) and movement in funds (35,278) (465) Reconciliation of funds: Fund balances at 1 September 2023 347,031 1,860 Fund balances at 31 August 2024 311,753 1,395 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 10,354 8,413 - 298,674 348,322 - 5,141 1,021 - 314,169 357,756 - 1,263 2,785 - 348,649 309,513 619 - 122 - 349,912 312,420 619 (35,743) 45,336 (619) 348,891 301,695 2,479 313,148 347,031 1,860 |
Total 2023 £ 8,413 348,322 1,021 |
|---|---|---|
| 357,756 | ||
| 2,785 310,132 122 |
||
| 313,039 | ||
| 44,717 304,174 |
||
| 348,891 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
BRACKNELL GYMNASTICS CLUB
BALANCE SHEET
AS AT 31 AUGUST 2024
| Notes Fixed assets Tangible assets 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities The funds of the charity Restricted income funds 18 Unrestricted funds 19 |
2024 £ 642 292,984 293,626 (41,039) |
£ 60,561 252,587 313,148 1,395 311,753 313,148 |
2023 £ 6,123 281,087 287,210 (16,736) |
£ 78,417 270,474 |
|---|---|---|---|---|
| 348,891 | ||||
| 1,860 347,031 |
||||
| 348,891 |
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 2024.
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 23 May 2025
..............................
Mr P Tranckle Trustee
Company registration number 06910301 (England and Wales)
- 5 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 amounts 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 or grantors 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.
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.
- 6 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
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 amount 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 2024
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 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 10,354 | 8,413 |
| Income from charitable activities | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Charitable activities | ||
| Event income | 44,296 | 52,903 |
| Services provided under contract | 244,007 | 262,386 |
| Ancillary trading income | 1,565 | 4,834 |
| Charitable rental income | 8,806 | 28,199 |
| 298,674 | 348,322 |
-
4 Income from charitable activities
-
8 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 5,141 | 1,021 |
| 5,141 | 1,021 |
6 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Trading costs | ||
| Other trading activities | 1,263 | 2,785 |
| Expenditure on charitable activities | ||
| Charitable | Charitable | |
| activities | activities | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Depreciation and impairment | 17,856 | 18,578 |
| Gymnastics coaching | 163,702 | 125,551 |
| Events | 49,489 | 48,523 |
| Training Fees | 2,581 | 1,751 |
| 233,628 | 194,403 | |
| Share of support and governance costs (see note 8) | ||
| Support | 113,659 | 114,151 |
| Governance | 1,362 | 1,578 |
| 348,649 | 310,132 | |
| Analysis by fund | ||
| Unrestricted funds | 348,184 | 309,513 |
| Restricted funds | 465 | 619 |
| 348,649 | 310,132 |
-
7 Expenditure on charitable activities
-
9 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
8 Support costs allocated to activities
| 2024 £ Office and hall rental 73,779 Admin fees 28,078 Miscellaneous expenses 582 Bank and finance charges 4,828 Other office costs 1,771 Repairs and small equipment 4,621 Governance costs 1,362 115,021 Analysed between: Charitable activities 115,021 Governance costs includes payments to the independent examiner of £1,362 (2023: £1,320). 9 Net movement in funds 2024 £ The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets 17,856 Loss on disposal of tangible fixed assets - |
2023 £ 77,287 15,832 8,091 2,553 2,577 7,811 1,578 |
|---|---|
| 115,729 | |
| 115,729 | |
| 2023 £ 18,579 122 |
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 11.
11 Employees
Remuneration of key management personnel
The remuneration of key management personnel, who are also directors, is as follows.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 27,443 | 14,400 |
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.
- 10 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
12 Other
| Net loss on disposal of tangible fixed assets | 2024 £ - - |
2023 £ 122 |
|---|---|---|
| 122 |
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
14 Tangible fixed assets
| Leasehold improvements £ Cost At 1 September 2023 83,903 At 31 August 2024 83,903 Depreciation and impairment At 1 September 2023 28,927 Depreciation charged in the year 11,995 At 31 August 2024 40,922 Carrying amount At 31 August 2024 42,981 At 31 August 2023 54,976 15 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income |
Plant and equipment £ 131,457 131,457 108,016 5,861 113,877 17,580 23,441 2024 £ 642 - 642 |
Total £ 215,360 |
|---|---|---|
| 215,360 | ||
| 136,943 17,856 |
||
| 154,799 | ||
| 60,561 | ||
| 78,417 | ||
| 2023 £ 4,033 2,090 |
||
| 6,123 |
- 11 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
| 16 Creditors: amounts falling due within one year Notes Deferred income 17 Accruals 17 Deferred income Other deferred income 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 2023 Released from previous periods Resources deferred in the year Deferred income at 31 August 2024 |
2024 2023 £ £ 31,152 8,192 9,887 8,544 41,039 16,736 2024 2023 £ £ 31,152 8,192 2024 2023 £ £ 31,152 8,192 8,192 25,901 (8,192) (25,901) 31,152 8,192 31,152 8,192 |
|---|---|
18 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 | Resources | At 31 August | |
|---|---|---|---|
| September | expended | 2024 | |
| 2023 | |||
| £ | £ | £ | |
| Sport England | 751 | (188) | 563 |
| British Gymnastics | 502 | (125) | 377 |
| ESC Lottery Fund | 607 | (152) | 455 |
| 1,860 | (465) | 1,395 |
- 12 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
| 18 | Restricted funds | (Continued) | ||
|---|---|---|---|---|
| Previous year: | At 1 | Resources | At 31 August | |
| September | expended | 2023 | ||
| 2022 | ||||
| £ | £ | £ | ||
| Sport England | 1,001 | (250) | 751 | |
| British Gymnastics | 669 | (167) | 502 | |
| ESC Lottery Fund | 809 | (202) | 607 | |
| 2,479 | (619) | 1,860 |
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'
19 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 | Incoming | Resources | At 31 August | |
|---|---|---|---|---|
| September | resources | expended | 2024 | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 347,031 | 314,169 | (349,447) | 311,753 |
| Previous year: | At 1 | Incoming | Resources | At 31 August |
| September | resources | expended | 2023 | |
| 2022 | ||||
| £ | £ | £ | £ | |
| General funds | 301,695 | 357,756 | (312,420) | 347,031 |
- 13 -
BRACKNELL GYMNASTICS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
20 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2024 2024 £ £ At 31 August 2024: Tangible assets 59,166 1,395 Current assets/(liabilities) 252,587 - 311,753 1,395 Unrestricted Restricted funds funds 2023 2023 £ £ At 31 August 2023: Tangible assets 76,557 1,860 Current assets/(liabilities) 270,474 - 347,031 1,860 |
Total 2024 £ 60,561 252,587 |
|---|---|
| 313,148 | |
| Total 2023 £ 78,417 270,474 |
|
| 348,891 |
21 Related party transactions
Transactions with related parties
During the year the charity entered into transactions with related parties as disclosed in note 11.
- 14 -