North East London Gymnastics Club Ltd (A company limited by guarantee)
Report and Financial Statements Year ending 31 December 2022 Charity number 1133248 Company number: 07018434
Report of the trustees for the year ending 31 December 2022
The trustees are pleased to present their annual directors’ report together with the consolidated financial statements of the charity and its subsidiary for the year ending 31 December 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 2015).
Our purposes and activities are :
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the promotion of community participation in healthy recreation, in particular, by the provision of facilities for the participation in gymnastics;
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provision of facilities for recreation;
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advancement of education;
In setting our objectives and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and fee charging. The Club relies on fee income, grants, fundraising and donations. In setting the fees and charges, the trustees have given careful consideration to the accessibility of The Club for those on low incomes.
Charitable purpose
The law requires all charities to demonstrate that their charitable purposes or aims are for the public benefit. The following Public benefit Statement has been written with guidelines issued by The Charity Commission for England and Wales.
The following are the main activities undertaken for the public benefit in relation to these objectives:
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the provision of gymnastics for children and adults in the local community;
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the provision of courses, events, displays and coaching for people in the local community and for coaches who organise or supervise the teaching of gymnastics;
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promotion and provision of training of coaches for the purpose of training gymnasts;
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to equip and maintain gymnastics facilities for the teaching and training of gymnastics;
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the provision of free training courses in first aid, safeguarding children and gymnastics coaching for volunteers and young people in the community;
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the provision of volunteering opportunities for young people in the local community;
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the provision of subsidised places for gifted gymnasts whose families are on low income; the provision of work experience for young people and adults in the local community;
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to provide low cost and free holiday programmes;
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Our purpose as a sports charity is to provide a suitable environment for the participation and enjoyment of gymnastics, primarily, but not exclusively, to children under 16. The charity offers a range of classes in our dedicated gymnastics facility which is equipped with men’s, women’s apparatus and a wide range of specialist apparatus suitable for children with special needs and pre school aged children. Our charity provides highly qualified staff to deliver our classes from parents and toddlers through to adults. The Charity also delivers public benefit through our training and mentoring program to assist people from the local community to gain work experience and vocational qualifications to help them into employment. 26 young people participated in the trainee coach program during 2022.
During this financial year we have continued to face challenges from the impact of Covid-19 restrictions and increases in fundamental utilities. We have worked hard to maintain our services for our existing members and open up opportunities to increase our provisions. We rebuilt our membership and have maintain this increased capacity throughout the year. During the financial year 480 children participated in weekly gymnastics classes, many of whom attend considerably more than once per week. In addition, a further 100 children accessed through our trial and taster sessions during 2022. We provided 70 different classes each week and 5,640 hours of coaching.
We believe equal access to our services is vital to our success and that successful outcomes must be shared by all communities so we can support children and families to thrive. We engage with local schools and community groups to understand the needs of local residents so we can better tackle health inequalities. We monitor who accesses our services and use this data to understand the local community and better meet their needs. We provide grants and low cost sessions to ensure access for low income families. 18.2 % of customers stated that their child is entitled to free school meals. This compares to 38.8% in Hackney. Classes are provided for all ability levels and ages with progression routes at all levels. 13% of our users identified themselves as having a disability at the club. This compares to 14.6% in Hackney.
The strength of feeling for The Club and its value to the community has been clearly shown by the support from our current users and the local community. Demand for our services remains high and we continue to have an extensive waiting list. The majority of the people who join come through word of mouth from recommendations.
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A 2022 wellbeing survey of our members showed these results:
70 gymnasts participated in the competitive squads during 2022 training several times a week at the club. They also took part in regional events that reopened during the year and when surveyed reported these positive experiences of competition:
!e compe""on made me feel energised and was rea#y $n.
I would defini&ly like ' a(end again.
!e compe""on made me feel more confident.
I would recommend taking part ' o)er people.
I liked )e crea"vi* of expressing myself )rough )e music.
Increased self esteem. Improved Posture. The perfect foundation for all sport. Safer community. Better concentration and results at school. Great opportunities to mix and become friends with people from different backgrounds. Physical and Mental Wellbeing
Raise the profile of Sports Clubs in Hackney Increase physical activity in young people especially girls Reduce Childhood Obesity Provide Opportunities for Volunteers Increase vocational training opportunities
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Donated goods, facilities and services, including volunteers
We started a scheme to recycle club gymnastics clothing and this is reducing waste by reusing the clothing and has raised £120 which was added to the hardship grant.
We continue to offer volunteering opportunities at the club, the leadership academy continues to be a success and provide opportunities for young people and adults to volunteer and learn leadership and life skills. The leadership academy primarily gain work experience by assisting with coaching, judging and event management. They work alongside our qualified staff and are given opportunities to gain qualifications in coaching, judging, first aid and safeguarding. Most of the leadership group assist in one - two sessions a week. 26 young people participated in the trainee coach program during 2022. The scheme is lead by 3 mentors, 1 welfare officer. Three of the trainee coaches took their level 1 British Gymnastics Coaching Course and are due to complete in 2023. All of the trainees have been given the opportunity to take national recognised qualifications in first aid, fire safety and safeguarding.
Objectives for the year
At the start of the year the main objectives were:
To work closely with Hackney to maintain our VCS status and renew the lease. To recruit new staff and train new coaches in-house. To maintain our membership levels. To recruit additional volunteers as trustees and in our parent group. To continue to develop a child centred approach in the development of the club.
Achievements and performance
We continued to provide the hardship grant program to provide additional support for those people most in need. We provided a hardship grant for 10 families 2022. We set up the recycling scheme for the clothing offering low cost club clothing to our members and new users. We reintroduced Viewing at the Club with a small new viewing area in the Foyer.
Despite challenges with staff recruitment and retention we maintained capacity in our classes. 1 coach completed their level 2 coaching award and 3 trainees and 1 parent volunteer completed the Level 1 coaching course. 3 coaches completed their Level 2 Judging Award. 8 trainees completed their first aid course.
After a long 2 year wait our Display Team finally travelled to Bologna, Italy on Sunday 3rd July to represent The Club & GB. The team performed in front of thousands of people at the Festival del Sole throughout the week as well as taking part in various gymnastics workshops.
Competitions and events which had moved in-house for most of 2021 were up and running again and we entered both Women’s Artistic and GFA regional competitions. At the Women’s Artistic Club & Regional Grades Championships 19th & 20th March 2022 at Heathrow Gymnastics Club.
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4 Gymnasts took part in Grade 6 and received: 1 Pass and 3 Commended. In Grade 5, 3 gymnasts achieved: 1 Pass and 4 Commended. 7 team trophies and medals were won by all our participating teams in the GFA regional team finals.
In our recreational program 283 gymnasts completed their Tumbling Stars awards in the club and moved up at least one level. All gymnasts completed a fitness assessment and 3 months later were set the challenge of improving their score. All the gymnasts improved their scores in at least two of the areas.
Welfare and Mental Health
This year has continued to bring it’s challenges with the very public publication of the Whyte Review into Safeguarding and Child Protection practises within the sport of gymnastics. The Club addressed this by contacting all of the parents in light of the publication and this open and approach resulted in a volunteer with a Social Work qualification offering to advise when needed. The CWO has continued to keep up to date records of safeguarding qualifications and DBS checks whilst also reinforcing the policies and procedures in place at the club with all staff, coaches and volunteers.
The cost of living crisis started to have an impact on some of our families and we were able to signpost them to suitable support provided by both Hackney and Islington Councils.
Financial review
In setting our objectives and planning our activities, the trustees have due regard to guidance published by the charities commission on public benefit, including the guidance on public benefit and fee charging. The Club relies on fee income, grants and donations. In setting the fees and charges, the trustees have given careful consideration to the accessibility of The Club for those on low incomes.
Our principal source of income is our training fees which have returned almost to pre pandemic levels. There have been increased costs due to rising utilities prices and staff wage rises to retain the existing staff.
The Charity's operating income and total sales were £229,086. The Charity made a operating loss of £22,281 during this year. However with the aid of sound financial management and the support of both its staff and volunteers the charity still has funds of £150,000 at the end of 2022. There are no restricted funds. The Charity agreed that no increase in fees was required as we had finished the year and maintained a reserve fund.
Reserves Policy
The Management Committee has examined the charity’s requirements for reserves in light of the main risks to the organisation. The main risk is uncertainty of the new proposed short lease agreement with Hackney Council. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 4 and 6
6
months of the expenditure. The present level of reserves of £85,000 falls within this target level the intention is to maintain this reserve fund to protect against fluctuations in cash flow.
Going Concern
After making appropriate enquiries, The Trustees have a reasonable expectation that The Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Plans for future periods:
To renew the lease and request a longer lease to give The Club more security. To extend the length of the lease to ensure the continuation of The Club at the current venue. To reconfigure the front entrance to allow viewing opportunities and ensure secured toilet access for the gymnasts. To look at new methods of recruitment so club capacity can continue to grow. To identify new sources of funding. To review fees and pay structure in light of increasing costs. To continue to provide a high quality coaching to give children the opportunity to reach their full potential in gymnastics. To maintain the existing program and continue to develop based on high quality coaching. To train local residents into employment and continue to offer employment opportunities. To expand the young leaders program, making young people more confident and more employable. To work with volunteers to improve their skills and ensure they are valued in the community. To ensure all staff complete continued professional development with all lead staff trained to British Gymnastics Level 3. To increase the places available for people who find it hard to access the services. To continue to provide opportunities for gifted and talented children. Despite difficulties in accessing grants primarily due to a very short lease the charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.
Structure, Governance, Management and administrative details of the charity, its trustees and advisers 31 December 2022
Governing document
The Charity is controlled by its governing document the memorandum and articles of association dated the 14th September 2009. The Charity is a limited company, limited by guarantee, as defined by the Companies Act 2006.
Statement of Trustees Responsibilities
The Trustees are responsible for ensuring that the charity complies with Charity Law, and with the requirements of the Charity Commission as regulator; in particular ensure that the charity prepares reports on what it has achieved and Annual Returns and accounts as required by law. Financial statements for each financial year which must give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice.
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The Trustees direct the affairs of The Charity, and ensuring that it is solvent, well-run, and delivering the charitable outcomes for the benefit of the public for which it has been set up. Using charitable funds and assets reasonably, and only in furtherance of the charity’s objects. Avoiding undertaking activities that might place the charity’s funds, assets or reputation at undue risk. All Trustees give their time voluntarily and received no benefits from the charity.
The General Manager/ Club Manager is appointed by The Trustees to manage the day-to-
day activities of the charity.
Lara Everall was appointed Club Manager in January 2009 and is the staff member responsible for day-to-day management of the club who is, amongst other things, responsible for day-to-day financial management.
Related parties
North East London Gymnastics Club Ltd is a tenant of Hackney Council . The club remains a completely independent business.
Recruitment and appointment of new trustees
Prospective new trustees are normally proposed by existing club members who may or may not be trustees for formal election at the club's AGM. Prior to their election prospective trustees are offered the opportunity to attend at least one board meeting as an observer to properly understand the working of the board. Trustees meet a minimum of twice a year for extraordinary general meetings. At the annual general meeting one-third of the trustees or, if their number is not three or a multiple of three, the number nearest one-third retires from office. If the position is not filled the retiring trustee, if willing to act, shall be eligible to be reappointed. Induction and training of new trustees
New Trustees, with appropriate skills, are selected at the Annual General Meeting of the Club. New Trustees are made aware of their responsibilities as Trustees through an induction session where they familiarise themselves with the charity and how it operates. The trustees are provided with the main documents setting out how the charity operates, the latest accounts, future plans for the organisation and charity commission guidance on becoming a trustee. They are
encouraged to undertake such personal training for their duties as they consider necessary. A knowledge of gymnastics is desirable.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
The Trustees have identified and actively reviewed the major risks to which the charity is exposed, as[follow: ]
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A.
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B. Major costs of renewing and maintaining the Association's premises and Equipment.
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C. Loss of use of the Association's premises.
In each case, appropriate steps have been taken to mitigate these risks.
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Text
Reference and Administrative Information
Charity Name: North East London Gymnastics Club LTD NELGC (Working Name ) Charity registered number: 1133248
Company Registration number: 07018434
Registration history: 11th December 2009
Governing document: Memorandum and articles of association
Incorporated:
Registered Office and operational address: 46 Milton Grove Stoke Newington London N16 8QY
Trustees
Damon Collins (Treasurer), Tracy Hill (Welfare Officer), Trevor Collins (Chair Person), Lucy Coates, Lucy Joslin and Sarah Brakes
Directors
Lara Everall, Damon Collins , Sarah Brakes and Tracy Hill
Memorandum and Articles of Association 14 September 2009
Bankers:
Barclays Bank 3-5 Kingsland High St London E8 2JT
British Gymnastics: Lilleshall National Sports Centre;
Newport; Shropshire; TF10 9NB;
Company Secretary : Tracy Hill
Company Law DAS Law Ltd:
North Quay, Temple Back, Bristol BS1 6FL
Independent auditors: :
Goldwins Limited, 75 Maygrove Road, London NW6 2EG
Trustee: Tracy Hill
Signed: Dated: 31st August 2023
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Independent examiner’s report to the trustees of North East London Gymnastics Club Ltd
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts 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 accounts 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 accounts to be reached.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
1 September 2023
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Statement of financial activities
(incorporating an income and expenditure account)
For the year ended 31 December 2022
| Note Income from: Donations and legacies Charitable activities: Sports activities 3 Investment income 4 Other income 5 Total income Expenditure on: Charitable activities: 6 Sports activities Total expenditure Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) for the year 7 |
Unrestricted £ 535 228,708 378 - 229,621 251,902 251,902 172,104 149,823 (22,281) |
Restricted £ - - - - - - - - - - |
2022 Total £ 535 228,708 378 - 229,621 251,902 251,902 (22,281) 172,104 149,823 |
2021 Total £ 2,210 177,280 365 47,576 |
|---|---|---|---|---|
| 227,431 | ||||
| 212,285 | ||||
| 212,285 | ||||
| 15,146 | ||||
| 156,958 | ||||
| 172,104 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Balance sheet
As at 31 December 2022
| Note Current assets: Debtors Liabilities: 10 12 Total unrestricted funds Creditors: amounts falling due within one year Net current assets Total net assets Cash at bank and in hand Funds General funds Total funds Unrestricted funds: Restricted funds |
2022 £ 230 155,788 |
2022 £ 149,823 |
2021 £ 323 180,702 |
2021 £ 172,104 |
|---|---|---|---|---|
| 156,018 6,195 |
181,025 8,921 |
|||
| 149,823 | 172,104 | |||
| 149,823 | 172,104 | |||
| - 149,823 |
- 172,104 |
|||
| 149,823 | 172,104 |
For the financial year ended 31 December 2022, the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006, and no notice has been deposited under Section 476. However, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner whose report appears on page 10. The directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with Section 386 of the Act and preparing Financial Statements which give a true and fair view of the state of affairs of the Company as at the end of the period and of its profit or loss for the financial period in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Company.
The Financial Statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
31 August 2023 Approved by the trustees on .......................... and signed on their behalf by:
Mr Damon Collins Trustee
Company registration no. 07018434
The attached notes form part of the financial statements.
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NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements
For the year ended 31 December 2022
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
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. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.
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Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements
For the year ended 31 December 2022
h) Allocation of support costs
- Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k) Cash at bank and in hand
- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
l) Creditors and provisions
- Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Notes to the financial statements
For the year ended 31 December 2022
| 2 Detailed comparatives for the statement of financial activities Income from: Donations and legacies Charitable activities: Sports activities Investment income Other income Total income Expenditure on: Charitable activities: Sports activities Total expenditure Net income / expenditure Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward 3 Income from charitable activities Unrestricted £ Sports activities 228,708 Total income from charitable activities 228,708 4 Income from investments Unrestricted £ Bank interest 378 378 5 Other income Unrestricted £ Coronavirus job retention scheme - Other grants - - |
2021 £ 2,210 177,280 365 47,576 227,431 212,285 212,285 15,146 - 15,146 156,958 172,104 £ - - £ - - £ - - - Restricted Restricted Restricted Unrestricted |
2021 £ - - - - - - - - - - - - 2022 Total £ 228,708 228,708 2022 Total £ 378 378 2022 Total £ - - - Restricted |
2021 Total £ 2,210 177,280 365 47,576 |
|---|---|---|---|
| 227,431 | |||
| 212,285 | |||
| 212,285 | |||
| 15,146 - |
|||
| 15,146 156,958 |
|||
| 172,104 | |||
| 2021 Total £ 177,280 |
|||
| 177,280 | |||
| 2021 Total £ 365 |
|||
| 365 | |||
| 2021 Total £ 19,903 27,673 |
|||
| 47,576 |
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NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements For the year ended 31 December 2022
6 Analysis of expenditure
| Basis of allocation Purchases Direct Support costs Wages and salaries Direct Employer`s pension Direct Staff training Direct Rent Direct Light and Heat Direct Repairs and maintenance Direct Cleaning Direct Computer and IT consumables Direct Printing, postage and stationery Direct Telecommunications Direct Accountancy fees Direct Professional fees Direct Bank charges Direct Sundry Direct Total expenditure 2022 Total expenditure 2021 |
£ - - - - - - - - - - - - - - - - - Cost of raising funds |
Charitable Sports activities £ 4,560 188,694 3,156 783 25,616 9,422 1,088 6,511 2,100 - 743 2,533 2,139 4,003 554 251,902 212,285 |
2022 Total £ 4,560 188,694 3,156 783 25,616 9,422 1,088 6,511 2,100 - 743 2,533 2,139 4,003 554 251,902 |
2021 Total £ 7,744 175,694 2,577 1,617 - 4,389 2,246 6,313 2,740 - 749 2,575 1,110 2,545 1,986 |
|---|---|---|---|---|
| 212,285 | ||||
| 212,285 |
Of the total expenditure £251,902 was unrestricted (2021: £212,285) and Nil was restricted (2021: £0).
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Notes to the financial statements
For the year ended 31 December 2022
| 7 Net income / (expenditure) for the year This is stated after charging / (crediting): Property operating lease rentals Independent examiner fee |
2022 £ - 1,800 |
2021 £ - 1,800 |
|---|---|---|
8 Analysis of staff costs, trustee remuneration and expenses, and cost of key management personnel Staff costs were as follows:
| Salaries and wages Employer`s pension |
2022 £ 188,694 3,156 |
2021 £ 175,694 2,577 |
|---|---|---|
| 191,850 | 178,271 |
The total employee benefits including pension contributions of the key management personnel were £58,474 (2021: £55,056).
Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
| Support | 2022 No. 23 |
2021 No. 19 |
|---|---|---|
| 23 | 19 |
9 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Taxation and social security Accruals and other creditors |
2022 £ 3,751 2,444 |
2021 £ 5,216 3,705 |
| 6,195 | 8,921 |
11 Analysis of net assets between funds
| Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Net current assets Net assets at the 31 December 2022 Analysis of net assets between funds 2021 Net current assets Net assets at the 31 December 2021 |
General unrestricted £ 149,823 |
Designated £ - |
Restricted £ - |
Total funds £ 149,823 |
| 149,823 | - | - | 149,823 | |
| General unrestricted £ 172,104 |
Designated £ - |
Restricted £ - |
Total funds £ 172,104 |
|
| 172,104 | - | - | 172,104 |
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NORTH EAST LONDON GYMNASTICS CLUB LTD
Notes to the financial statements
For the year ended 31 December 2022
| Movements in funds Unrestricted funds: General funds Total unrestricted funds Total restricted funds Total funds Movements in funds 2021 Unrestricted funds: General funds Total unrestricted funds Restricted funds: Big Lottery Fund Total restricted funds Total funds |
£ 172,104 At 1 January 2022 |
£ 229,621 Income |
£ (251,902) Expenditure |
Transfers £ - |
£ 149,823 At 31 December 2022 |
|---|---|---|---|---|---|
| 172,104 | 229,621 | (251,902) | - | 149,823 | |
| - | - | - | - | - | |
| 172,104 | 229,621 | (251,902) | - | 149,823 | |
| £ 156,958 At 1 Jan 2021 |
£ 227,431 Income |
£ (212,285) Expenditure |
Transfers £ - |
£ 172,104 At 31 December 2021 |
|
| 156,958 | 227,431 | (212,285) | - | 172,104 | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| 156,958 | 227,431 | (212,285) | - | 172,104 |
12 Movements in funds
13 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
14 Related party transactions
There are no related party transactions to disclose for 2022 (2021: none).
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