**Charity registration number 1139679** **Company registration number 07452976 (England and Wales)** **FAVERSHAM COMMUNITY GYMNASTIC AND ACTIVITY CENTRE Annual Report And Unaudited Financial Statements** **For The Year Ended 31 March 2024** ## **Faversham Community Gymnastic and Activity Centre** ## **Legal And Administrative Information** ## **Trustees** SC Wolfe ER Prince DR Prince **Charity number** 1139679 **Company number** 07452976 **Registered office** Queen Elizabeth II Jubilee Centre 23A Whitstable Road Faversham Kent England ME13 8BF **Independent examiner** Chavereys Limited The Goods Shed Jubilee Way Faversham Kent England ME13 8GD ## **Faversham Community Gymnastic and Activity Centre** ## **Contents** ||**Page**| |---|---| |Trustees report|1 - 3| |Statement of trustees responsibilities|| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 15| ## **Faversham Community Gymnastic and Activity Centre** ## **Trustees Report (Including Directors' Report)** ## **For The Year Ended 31 March 2024** The trustees present their annual report and financial statements for the year ended 31 March 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. 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 objects of the charity are to assist in the provision of facilities to encourage physical and recreational activity for the benefit of the general public of all ages with the object of improving the conditions of life for such persons. The charity provides facilities to the people of Faversham and the surrounding areas to enjoy gymnastic and fitness activities. There are no restrictions on who can take advantage of the facilities and the charity actively encourages disadvantaged and disabled members of society to take part in the activities available. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Activities undertaken to achieve objectives** The trustees are pleased to report that the charity continues to provide a range of classes and facilities for local people from sessions for crawling babies up to secondary school age, together with its medium size fitness suite. ## **Achievements and performance** Soft Play has continued to run on a booking system online to manage numbers. Gymnastic classes are still much in demand and we still operate a waiting list. We offer elite classes in Floor and Vault, Boys and Womens Artistic and we have restarted more sessions to help working parents in half terms and holidays which have helped to enhance the Centre’s turnover. We continue to support and encourage staff development through courses. ## **Financial review** The Centre has increased its prices where appropriate to ensure that the Charity is sustainable in the long term so it can continue to offer its services to the community. Despite the continuing challenges the financial situation has improved compared to the previous year with the net deficit before investment losses reducing to £55,710 (2023 - deficit of £132,966). The improvement in the net position is a result of the Charity increasing turnover as well as controlling costs during the year. The statement of financial activities shows total incoming resources of £439,393 (2023 - £393,287) and outgoing expenditure of £495,103 (2023 - £526,253). The results include a late claim for Employer National Insurance allowance for previous years, which has been off set against social security costs. The total reserves at the year end were £1,394,088, of which £720,114 were liquid. 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies. The trustees policy relating to the reserves continue to be that they can be used to fund the replacement of the building when it reaches the end of its useful life. We have used reserves to fund shortfalls in our income as a result of the pandemic. - 1 - ## **Faversham Community Gymnastic and Activity Centre** ## **Trustees Report (Including Directors' Report) (Continued) For The Year Ended 31 March 2024** ## **Structure, governance and management** The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees, is governed by the memorandum and articles of association. There are no restriction in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law. 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: SC Wolfe ER Prince DR Prince T Pastor (Appointed 29 November 2023 and resigned 11 March 2024) When new or additional trustees are required then nominations are invited from the general public and subject to their compliance with the Memorandum and Articles of Association they are considered by the board of trustees for election. 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. ## **Statement of trustees responsibilities** The trustees, who are also the directors of Faversham Community Gymnastic and Activity Centre for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 2 - Faversham Community Gymnastic and Activity Centre Trustees Report (Including Directors. Report) (Continued) ForTheYear Ended 31 March 2024 The trustees report wa¥ apptDved by the Board ofTru5te25. SCVVolfe Trustee Faversham Community Gymnastic and Activity Centre Independent Examiner's Report To The Trustees Of Faversham Community Gymnastic and Activity Centre report to the trU5tee$ on my examination of the financial statements of Faversham Communlty Gymnasdc and Activity Centre {the charity) for the year ended 31 March 2024. R05pon$lbllltles basls of report As the trustees ol the charity land also its dlrectors for the purposes of company lawl you are responsible for the preparation ol the financlal statements In accordance with the r4ulrements of the Companie5Act 2006 ltht 2006 Art). Havlng sat15fied rTIy5elf that the flnancial statements of the charlty are not twuired to be audited under Part 16 of the 2006 Act and are eligible for independent exatninath)n, I report in respect of rny exarnlnatlon ol the charity's financlal statements carried O￿L under section 145 of the charf￿e$ Ac¢ 2011 (the 2011 Act). In carrylng ou¢ my exarnination I have followed all the appllcable Directions gven ty the Charity Cornmlssion under sectyon 14515)Ibl of the 2011 ACL Indèpèndent examlner's statement Since the charitys gross Income exceeded £250.0(￿• your examlner must be a member of a body Ilsted In secuon 145 of the 201 l Aet. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, whleh Is one ol the ltsted bodie5. I have completed tTV examlnatlon. I confirm that no rnatters have come to ny attentioTh in connecdon wlth the examination glvlng me cause to belteve that in any material respe accountlng records were not kept in respect of the charity as wuired by sectlon 386 of the 2006 Ac(. or the financial statements do not accord wlth those record5', or the financlal Statements do not cornply with the aecounting requirements of secdon 396 of the 2006 Act other than any requirement that the ateounts glva a true and fair view whlch 1$ not a matter considéred as part of an independent examination., or the flnanclal statements haye not been prepared in accordan￿ with the methods and principles of the Statement of Recommended Practice for accountlng and reporting by charltles applicable to charities preparlng thelr accounts in accordance wlth the Financial Reporting Stsndard applicable in the UK and Republlc of Ireland {FRS 1021. I have no £oncerTr5 and have come across no other matter5 In connectlon with the examinatlon to whlch attentlOTI should be drawn in thls report in order to enable a proper understanding of the financial $tatvments to be reached. lalr* Morri5 ICAEW ChA￿r•Y$ Llmltsd The Good5 Shed ILtblleeWay Faversharn Kent ME13 8GD England Dated.. l L ZOL ## **Faversham Community Gymnastic and Activity Centre** ## **Statement Of Financial Activities Including Income And Expenditure Account** ## **For The Year Ended 31 March 2024** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|**21**|_263_| |Charitable activities|**3**|**397,383**|_353,217_| |Investments|**4**|**41,989**|_39,807_| |**Total income**||**439,393**|_393,287_| |**Expenditure on:**|||| |Charitable activities|**5**|**495,103**|_526,253_| |**Total expenditure**||**495,103**|_526,253_| |Net gains/(losses) on investments|**10**|**(42,754)**|_(137,676)_| |**Net expenditure and movement in funds**||**(98,464)**|_(270,642)_| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2023||**1,492,552**|_1,763,194_| |**Fund balances at 31 March 2024**||**1,394,088**|_1,492,552_| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - Faversham Community Gymnastic and Activity Centre Balance Sheet As At 31 March 2024 2024 2023 Not•S Flxtd a95¢ts Tanyble a55ets 12 674080 700.987 Curr•nt assets Stocks Debttsr$ Inve$tments Cash at bank and in hand 3,7119 16,916 66•,716 59,398 3.508 2.569 802.574 42.120 14 740,739 850.771 Cr•dltors: amounts fallln8 du• wlthln one 16 (22.731) 159.206) Net ¢urrèttt assèts 718,00• 791565 Totsl 455¢ts1*$5 curr¢nt liabilttl•s 1,394088 1.492552 Thè funds ofth• charbty Unrestricted funds 18 1,394,088 1.492.552 1,394,088 1,492,552 The cornpany is entided to the exemption from the audit requirement contained in sec¢ion 477 of the Companie5 Ac¢ 2006. for the year ended 31 March 2024. The directors aCknO￿edge their respon51bllttles for CoMp￿Tr% with the requi￿rnents of the Companie5Act 2006 wlth respert to accounttng records and the preparatioTh of financial ststernents. The member5 have not reqyired the company to obtain an audit of its firYdTrci￿ statements for the year in question in accordance with section 47& These financial Statements h*+e been prepared in accordance with the proviston5 applicable to companie5 subjertto the srna¢l companies rewme. The financial statemwts wtre approv*J by the trustees on.-...... ........ SCWoWe Tru$teo Company registration number 07452976 (En￿and andwalesl ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements For The Year Ended 31 March 2024** ## **1 Accounting policies** ## **Charity information** Faversham Community Gymnastic and Activity Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Queen Elizabeth II Jubilee Centre, 23A Whitstable Road, Faversham, Kent, ME13 8BF, England. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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, modified to include the revaluation of certain financial instruments at fair value. 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. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **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. - 7 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **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 land and buildings 2-5% straight line Plant and equipment 10-25% straight line 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 the statement of financial activities. ## **1.7 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.8 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **1.9 Investments** Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **2 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Donations and gifts|**21**|_263_| - 8 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued) For The Year Ended 31 March 2024** ## **3 Charitable activities** |Sales within charitable activities
Other income
**For the year ended 31 March 2023**
Sales within charitable activities
Other income|**Gym fees**
**Adventure**
**play and hire**
**Gym hire,**
**parties and**
**clubs**
**Clothing and**
**awards**
**Café takings**
**2024**
**2024**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**£**
**202,521**
**68,003**
**42,100**
**7,864**
**60,437**
**-**
**-**
**-**
**-**
**-**
**202,521**
**68,003**
**42,100**
**7,864**
**60,437**
**Gym fees**
**Adventure**
**play and hire**
**Gym hire,**
**parties and**
**clubs**
**Clothing and**
**awards**
**£**
**£**
**£**
**£**
**195,839**
**64,452**
**24,836**
**6,117**
**-**
**-**
**-**
**-**
**195,839**
**64,452**
**24,836**
**6,117**|**Classes Other income**
**Total**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**13,032**
**1,414**
**395,371**
**-**
**2,012**
**2,012**
**13,032**
**3,426**
**397,383**
**Café takings**
**Classes Other income**
**£**
**£**
**£**
**44,563**
**15,474**
**1,105**
**-**
**-**
**831**
**44,563**
**15,474**
**1,936**|**Total**
**2023**
**£**
_352,386_
_831_| |---|---|---|---| ||||_353,217_| ||||**Total**
**2023**
**£**
**352,386**
**831**| ||||**353,217**| - 9 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** ## **4 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Income from other investments|**41,256**|_39,638_| |Interest receivable|**733**|_169_| ||**41,989**|_39,807_| ## **5 Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**expenditure**|**expenditure**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Staff costs|**291,614**|_282,252_| |Recruitment costs|**450**|_6,259_| |Training and welfare|**4,393**|_3,097_| |Cafe and party purchases|**30,987**|_22,778_| |Clothing purchases|**4,009**|_3,009_| |Badges and trophies|**919**|_485_| |Gym costs|**3,174**|_2,209_| |Change in inventories|**(201)**|_(3,508)_| ||**335,345**|_316,581_| |**Share of support and governance costs (see note 6)**||| |Support|**155,708**|_205,122_| |Governance|**4,050**|_4,550_| ||**495,103**|_526,253_| |**Analysis by fund**||| |Unrestricted funds|**495,103**|_526,253_| - 10 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** |**6**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Depreciation
**26,668**
**-**
Premises
**74,987**
**-**
General office
**46,485**
**-**
Irrecoverable VAT
**7,568**
**-**
Accountancy
**-**
**4,050**
**155,708**
**4,050**
Analysed between
Charitable activities
**155,708**
**4,050**|**2024**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
**26,668**
_65,479_
_-_
**74,987**
_71,249_
_-_
**46,485**
_58,549_
_-_
**7,568**
_9,845_
_-_
**4,050**
_-_
_4,550_
**159,758**
_205,122_
_4,550_
**159,758**
_205,122_
_4,550_|**2023**
**£**
_65,479_
_71,249_
_58,549_
_9,845_
_4,550_| |---|---|---| |||_209,672_| |||_209,672_| Governance costs includes fees payable to the charity's independent examiner for the independent examination of the charity's annual accounts of £2,750 (2023- £2,600) and other accountancy fees of £1,300 (2023 - £1,950). |**7**|**Net movement in funds**|**2024**|**2023**| |---|---|---|---| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Fees payable for the independent examination of the charity's financial statements|**4,050**|_4,550_| ||Depreciation of owned tangible fixed assets|**26,668**|_65,479_| ## **8 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **9 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Staff|**27**|_27_| - 11 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** |**9**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**(Continued)**
**2024**
**2023**
**£**
**£**
**293,103**
_259,893_
**(7,104)**
_12,864_
**5,615**
_9,495_
**291,614**
_282,252_|**(Continued)**
**2024**
**2023**
**£**
**£**
**293,103**
_259,893_
**(7,104)**
_12,864_
**5,615**
_9,495_
**291,614**
_282,252_| |---|---|---| |||_282,252_| There were no employees whose annual remuneration was more than £60,000. ## **10 Gains and losses on investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|**(43,386)**|_(138,376)_| |Sale of investments|**632**|_700_| ||**(42,754)**|_(137,676)_| ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 12 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** |**12**
**Tangible fixed assets**
**Leasehold land**
**and buildings**
**£**
**Cost**
At 1 April 2023
**1,210,722**
Additions
**-**
At 31 March 2024
**1,210,722**
**Depreciation and impairment**
At 1 April 2023
**520,193**
Depreciation charged in the year
**24,961**
At 31 March 2024
**545,154**
**Carrying amount**
At 31 March 2024
**665,568**
At 31 March 2023
_690,529_
**13**
**Stocks**
Finished goods and goods for resale
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**15**
**Current asset investments**
Unlisted investments||**Plant and**
**equipment**
**£**
**699,552**
**1,761**
**701,313**
**689,094**
**1,707**
**690,801**
**10,512**
_10,458_
**2024**
**£**
**3,709**
**2024**
**£**
**2,466**
**14,450**
**16,916**
**2024**
**£**
**660,716**|**Total**
**£**
**1,910,274**
**1,761**| |---|---|---|---| ||||**1,912,035**| ||||**1,209,287**
**26,668**| ||||**1,235,955**| ||||**676,080**| ||||_700,987_| ||||**2023**
**£**
_3,508_| ||||**2023**
**£**
_2,569_
_-_| ||||_2,569_| ||||**2023**
**£**
_802,574_| The investments are remeasured to fair value at the year end. Fair value is determined using the quoted market price in an active market. The historical cost of the investments is £736,787. - 13 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** ## **16 Creditors: amounts falling due within one year** |**16**
**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**17**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
**8,391**
**3,257**
**1,046**
**10,037**
**22,731**
**2024**
**£**
**5,615**|**2023**
**£**
_50,618_
_1,835_
_-_
_6,753_| |||**59,206**| |||**2023**
**£**
_9,495_| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. ## **18 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. |General funds
**Previous year:**
General funds|**At 1 April**
**2023**
**£**
**1,492,552**
**At 1 April**
**2022**
**£**
_1,763,194_|**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**439,393**
**(495,103)**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
_393,287_
_(526,253)_|**Gains and**
**losses**
**At 31 March**
**2024**
**£**
**£**
**(42,754)**
**1,394,088**
**Gains and**
**losses**
**At 31 March**
**2023**
**£**
**£**
_(137,676)_
_1,492,552_| |---|---|---|---| - 14 - ## **Faversham Community Gymnastic and Activity Centre** ## **Notes To The Financial Statements (Continued)** ## **For The Year Ended 31 March 2024** ## **19 Analysis of net assets between funds** ||**Unrestricted**| |---|---| ||**funds**| ||**2024**| ||**£**| |**At 31 March 2024:**|| |Tangible assets|**676,080**| |Current assets/(liabilities)|**718,008**| ||**1,394,088**| ||**Unrestricted**| ||**funds**| ||**2023**| ||**£**| |**At 31 March 2023:**|| |Tangible assets|_700,987_| |Current assets/(liabilities)|_791,565_| ||_1,492,552_| ## **20 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 15 - ## **Favesham Community Gymnastic and Activity Centre** ## **Detailed profit and loss account for the year ended 31 March 2024** |Donations and legacies
Charitable activities
Investments
**Less: Expenses**
Direct expenses
Support and governance costs
**Net expenditure before net gains/(loss) on investments**
Net (losses)/gains on investments
**Net movement in funds**|**2024**
**£**
21
397,383
41,989
**439,393**
335,345
159,758
**495,103**
**(55,710)**
(42,754)
**(98,464)**|**2023**
**£**
263
353,217
39,807
393,287
316,581
209,672
526,253
(132,966)
(137,676)
(270,642)| |---|---|---| - 16 - ## **Favesham Community Gymnastic and Activity Centre** ## **Schedule to the detailed accounts for the year ended 31 March 2024** |**Income**
**Donations and legacies**
Donations
Government grants
**Charitable activities**
Gym fees - members
Adventure play fees and hire
Gym hire, parties and clubs
Clothing, badges and trophies
Café takings
Classes
Other income
**Investments**
Income from other investments
Bank deposit interest|**2024**
**£**
21
-
**21**
**2024**
**£**
202,521
68,003
42,100
7,864
60,437
13,032
3,426
**397,383**
**2024**
**£**
41,256
733
**41,989**|**2023**
**£**
263
-
263
**2023**
**£**
195,839
64,452
24,836
6,117
44,563
15,474
1,936
353,217
**2023**
**£**
39,638
169
39,807| |---|---|---| - 17 - ## **Favesham Community Gymnastic and Activity Centre** ## **Schedule to the detailed accounts** ## **for the year ended 31 March 2024** |**Expenditure**
**Direct expenses**
Gross wages and salaries
Employers national insurance contributions
Employers pension contributions
Recruitment costs
Training and welfare
Café and party purchases
Clothing purchases
Badges and trophies
Gym purchases
Change in inventories
**Support costs**
**Premises**
Rent
Rates
Light and heat
Repairs and maintenance
Insurance
Cleaning|**2024**
**£**
293,103
(7,104)
5,615
450
4,393
30,987
4,009
919
3,174
(201)
**335,345**
**2024**
**£**
3,027
5,196
29,099
21,447
12,611
3,607
**74,987**|**2023**
**£**
259,893
12,864
9,495
6,259
3,097
22,778
3,009
485
2,209
(3,508)
316,581
**2023**
**£**
2,682
1,368
29,218
24,082
9,569
4,330
71,249| |---|---|---| - 18 - ## **Favesham Community Gymnastic and Activity Centre** ## **Schedule to the detailed accounts for the year ended 31 March 2024** |**General office costs**
Telephone
Other office costs
Advertising and PR
Subscriptions and fees
Awards made
Stationery and printing
Consultancy fees
Bank charges
Sundry expenses
Interest on overdue VAT liability
**Depreciation**
Depreciation on leasehold property
Depreciation on plant and machinery
**Irrecoverable VAT**
Irrecoverable VAT
**Governance costs**
Accountancy
**Total support costs**|**2024**
**£**
1,793
1,154
346
5,418
5,000
2,130
4,657
12,393
11,161
2,433
**46,485**
**2024**
**£**
24,961
1,707
**26,668**
**2024**
**£**
7,568
**7,568**
**2024**
**£**
4,050
**4,050**
**159,758**|**2023**
**£**
2,550
1,253
-
4,404
7,000
1,081
19,185
13,322
9,754
-
58,549
**2023**
**£**
24,961
40,518
65,479
**2023**
**£**
9,845
9,845
**2023**
**£**
4,550
4,550
211,870| |---|---|---| - 19 - ## **Favesham Community Gymnastic and Activity Centre** ## **Schedule to the detailed accounts** ## **for the year ended 31 March 2024** |**Investment gains and losses**
Revaluation of investments
Gain on sale of investments|**2024**
**£**
(43,386)
632
**(42,754)**|**2023**
**£**
(138,376)
700
(137,676)| |---|---|---| - 20 -