Charity registration number 1139993
Company registration number 06934613 (England and Wales)
WICKERS GYMNASTICS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
WICKERS GYMNASTICS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Ms J Sharp Mr M S Wren Mr A Crouch Mrs J Crouch Mr G Hodgson Miss E Roberts Miss K Sawyer Secretary and CEO Miss K L Hodgson-Kerr Charity number 1139993 Company number 06934613 Principal address Unit 10 Chartwell Business Centre 42 Chartwell Road Lancing Business Park Lancing West Sussex BN43 5ZN Registered office 18 Hyde Gardens Eastbourne East Sussex BN21 4PT Independent examiner Alastair Towler BFP ACA DChA 18 Hyde Gardens Eastbourne East Sussex BN21 4PT
WICKERS GYMNASTICS LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 - 6 |
| Notes to the financial statements | 7 - 15 |
WICKERS GYMNASTICS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022
The Trustees present their annual report and financial statements for the year ended 30 June 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
Our charity's purposes as set out in the objects contained in the Memorandum of Association, are the promotion of the participation of children and young people in healthy recreation, in particular by the provision of facilities for gymnastics.
How our activities deliver public benefit
The community benefits from our activities through the promotion of community participation in activities which enhance physical health and fitness, and build confidence and self esteem in children and young people.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
In the year end to July 2022, Wickers doors have remained open, without further COVID disruption, but the recovery of the Club and its activities has been slower than anticipated.
Coaching Courses were reinstated and so within the year the club was able to take on 5 new members of staff, which enabled the Club to replace staff members who were leaving for University and also grow some membership numbers in some sessions.
A long process but throughout the year session numbers have grown, particularly within the new daytime preschool programme that has been on offer and the waiting list has begun to grow again.
Unfortunately in May 2022 due to exceptionally heavy rain the Club was flooded and had to close its doors for 2 days to enable the equipment to dry out and be cleaned.
With events opening up again the Club had a successful year at competitive level; grew its Leadership Academy, some of whom became qualified judges in October 2021; the Clubs holiday programme was up and running again and very popular and once again gymnasts from the Club were selected for the County and Regional Women's Artistic Squads and one member of the Club was selected for the Great Britain Aspire Squad 2022.
Financial review
The charity made an overall deficit of £15,186 (2021: £24,700) for the year. This is an improvement on the previous year as the Club was able to reopen for most of the year.
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. This equates to a maximum figure of £177,000. 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. Current free reserves stand at £169,848 which equates to nearly 5 months, so reserves are in line with the reserves policy.
The Trustees have assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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WICKERS GYMNASTICS LIMrrED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORD (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 Plan8 for luture perfods At date ofthis rerM)rt. exists conshder8b Utainty rwJarding thè w)tenb"al impact of the co)n3rUS arKI the economK (xjnsequertes may regjlt Ir(¥n govemment to o)nkin the srwj. dura1Th7 and ge(xJraphl extent of any (lt4& kxkTr or ftthJr8 gOve1t OK4es are still unknown. Whlst we a unable to vthat the ecOMrn corwuwtes may be arJ the Irn on Ihe thanty's luture abilty to o)nb"nue Irddir4J. For instance. ahead. the chaiity will cntirwe to kxxJ5 C rebJiklirwJ a stroryr 1. èrsuriThJ that staff can arr any requi traini as SL as they are aiAe. and to ensure that Iho sid8 Of Club is aNe to a(xess any ¢xxnpetthe ty)rM)rtunths as SLY)n as they are offer&Y. The Club airns lo rxuit at laast 1 additional )8¢h and promote its Leadership Aeademy to ywryer menkner5 ¢an th8n be fimerad into the trainee schemè to I)rne qualthed staff rnemters when Ihè wir5es restrrt and thèy are ÈnwJh. Thg aim is to have at least 20 The organtsatrjn is a Charita ¢c¥npany limrtad by guar8ntse. 15 and fWJiStsreJ as a chwity on 24 January 2011. Thè C{panY Wd5 establi5W uThJw a er11m ofA%coakn es1ab1hed The Trtthes. 7hho arè alg) th9 ¢"rn(crf5 purFW crfC(•np law, srved durlng Ihg year ¥¥eTr: M5 J Sharp MrMSWrgn MIA CrThK MrsJCw Mr G Ho(hJ MrJ Kent Miss E Rotwls Miss K S8 (Rg5igwJ 15 ju 20221 ASsoation, one third of the dirwts5 we wuirgj lo relKe anrwaty by rotalion. Furlher diwtors may te apKx)wrted by the existiro board. up¢ tsue89 fc4kx a [x)rY of IThju( whKh inth awaron8$5 of a tnJ$tee's r8sponsitM'litBs. lh8 tharivs w¥emwJ rts JnNnslratibB prct•Jures. and th8 history and phiknsophul 8pproxh of Ihe charty. TW a&0 1? c£yies of th8 wevw annual report and actojnts Nong of the Tnthes has any be1 intefest in the rxjrryry. AJI rf the Tw5 rwnbws of the o)mp3ry and guarantee to Contrit an anh)Jnt exthr £10 in ts evèrt of a *irnlirwJ . MrGH 27 January 223
WICKERS GYMNASTICS LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WICKERS GYMNASTICS LIMITED I report to the Trustees on my examinab.on of the financial slalemenls of Wckers Gymnastits Limrted {Ihe chartyl for the year ended 30 June 2022. Responsibiliti95 and basis of report As the Trustees ol the charity land a150 rt5 direciors lor the purposes of MpanY lawl y¢w ale responsible fof the preparation of the financial statements in accordance wrth the requirernents of Ihe Companies Acl 2006 (the 2006 Acll. Having satisfied myseff that the financjal statements of the tharty are nol required to be audited under Part 16 of the 2006 Act an(J are eligiblè independent examinatK&n. I report in respect of rny examination of the charity's finanaal statements earned out under section 145 01 the Chants"es Acl 2011 Ithe 2011 Act). In carrying out my examination I have followed all the applicab th"reuions given by the Charity Commission Urer section 14515llbl of the 2011 Act. Indépèndènt èx¥minerfs stat•m•nt Since the charity's gross ineome exceeded £250.W your examiner must be a member of a body listed in sectit 145 of th? 2011 Act. I confirm that l am qualtfied to undertake the examinab.on because l am a member ol the Institute of Chartered Accountants in England and Wabes, which 1$ one of the listed t)ds. I have completed rny examination. I confim that no matters have comè lo my attention in ¢J)nnects'on with the examination giving me cause to believe that in any Materi respect.. ac£ounting records were not kepl in respect ofthe tharity as required by sec*on 386 ofthè 2rffi Ad.. or the financial statements do rt accord wrth thts5e records., or the finanual statèments do not mplY wtth the actounling wuirements of sei#ion 3 of the 2006 Act other than any iequirement that the accounts gNe a true and fair view whiGh is nol a matter considered as part of an independent examinats'on." or the financial statements have not been prepared li acc¢rfarKe with the methods and prinuples of the Stalernent ol Recommended Practice for accounting and reporbng by charrties applicable to charits'es preparing their accounts In ac¢ordance wrth the Finanual Repts"ng Standard applicable in the UK and Republic of IrelaThJ IFRS 1021. I have no concems and have come acTOSS ro other matters in cOnneCtn with the examination to which attantion should be drawn in this report in order to enable a proper understanding of the financial statements io be reached. AlaÈtslr Towlor BFP ACA Dctr Chart•red A¢countant 18 Hyde Gardens Eastboume East Sussèx BN214PT Dated.. 17 March 2023
WICKERS GYMNASTICS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022
| Unrestricted Unrestricted funds funds general designated 2022 2022 Notes £ £ Income from: Voluntary income 3 9,380 - Charitable activities 4 408,964 - Investments 5 23 - Total income 418,367 - Expenditure on: Gymnastics coaching 6 433,553 - Net outgoing resources before transfers (15,186) - Gross transfers between funds 12,849 (12,849) Net expenditure for the year/ Net movement in funds (2,337) (12,849) Fund balances at 1 July 2021 172,185 54,493 Fund balances at 30 June 2022 169,848 41,644 |
Total Unrestricted Unrestricted funds funds general designated 2022 2021 2021 £ £ £ 9,380 118,206 - 408,964 211,364 - 23 13 - 418,367 329,583 - 433,553 354,283 - (15,186) (24,700) - - 18,164 (18,164) (15,186) (6,536) (18,164) 226,678 178,721 72,657 211,492 172,185 54,493 |
Total 2021 £ 118,206 211,364 13 329,583 354,283 (24,700) - (24,700) 251,378 226,678 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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WICKERS GYMNASTICS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2022
| Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets Income funds Unrestricted funds Designated funds 16 General unrestricted funds |
2022 £ 3,863 216,239 220,102 (13,819) 41,644 169,848 |
£ 41,644 206,283 247,927 (36,435) 211,492 211,492 211,492 |
2021 £ - 225,996 225,996 (7,978) 54,493 172,185 |
£ 54,493 218,018 272,511 (45,833) 226,678 226,678 226,678 |
|---|---|---|---|---|
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VVICKERS GYMNASTICS LIMITED BALANCE SHEET {CONTINUED> AS AT 30 JUNE 2022 2(. fr)r Ihe year aTrJgd 30 ju 2tr22. The ftmbers have Th)t wr0d the CrM¥yry to an alit rfiLs la1 SlateMts tr the year in quastitin Trn accordan wth seLtKffi 476. to thè small cLJmpans regi. The finarla1 staternts *efe aFvowJ by ts TnJste8S (m 27 JUary 2ff23
WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
1 Accounting policies
Charity information
Wickers Gymnastics Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 18 Hyde Gardens, Eastbourne, East Sussex, BN21 4PT.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 1 January 2016). 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, [modified to include the revaluation of freehold properties and to include investment properties and 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.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
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.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
1 Accounting policies
(Continued)
Fees are raised in advance of sessions and are recognised upon the raising of the invoice. Sponsorship is recognised once the charity has been notified of the income, unless performance conditions require deferral of the amount.
Interest of 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.
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.
Support costs comprise administrative costs in support of the charity's charitable activities as well as the costs of governance. Governance costs include the preparation and independent examination of the statutory accounts, the cost of trustees' meetings and any legal advice to trustees on governance or constitutional matters. Support and governance costs have been allocated wholly against the charity's main activity of gymnastics coaching.
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:
Fixtures, fittings & equipment 25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 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.
1.9 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.
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
1 Accounting policies
(Continued)
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 amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any material 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.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
3 Voluntary income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2022 | 2021 | |
| £ | £ | |
| Grants receivable | 9,380 | 118,206 |
| Grants receivable for core activities | ||
| HMRC CJRS grants | 1,386 | 83,349 |
| Adur Council (Covid 19 grants) | 5,000 | 32,857 |
| BAGA grants | 1,006 | 2,000 |
| Other | 1,988 | - |
| 9,380 | 118,206 |
4 Charitable activities
| Fees and | Fees and | |
|---|---|---|
| sponsorship | sponsorship | |
| 2022 | 2021 | |
| £ | £ | |
| Membership fees and sponsorship | 408,100 | 209,606 |
| Hire of facilities | 864 | 1,758 |
| 408,964 | 211,364 | |
| Investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| general | general | |
| 2022 | 2021 | |
| £ | £ | |
| Interest receivable | 23 | 13 |
5 Investments
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
6 Gymnastics coaching
| Gymnastics | Gymnastics |
|
|---|---|---|
| coaching | coaching | |
| 2022 | 2021 | |
| £ | £ | |
| Staff costs | 253,969 | 211,285 |
| Depreciation and impairment | 13,881 | 18,164 |
| BG Membership | 6,271 | 1,673 |
| Coach education | 1,299 | 1,789 |
| Competition fees | 4,545 | 90 |
| Clothing, badges and certificates | 8,595 | 5,391 |
| Staff training | 3,403 | 76 |
| Advertising | 1,734 | 500 |
| Travelling and entertaining | 3,404 | 38 |
| Other event expenses | - | 520 |
| Rent and rates | 102,003 | 93,300 |
| Cleaning | 2,858 | 3,366 |
| Insurance | 1,368 | 2,346 |
| Light and heat | 4,693 | 3,936 |
| Repairs | 12,498 | 4,333 |
| 420,521 | 346,807 | |
| Share of support costs (see note 7) | 9,498 | 4,452 |
| Share of governance costs (see note 7) | 3,534 | 3,024 |
| 433,553 | 354,283 |
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
7 Support costs
| Printing, postage and stationery Telephone and internet Subscriptions Bank loan interest Legal and professional Bank charges Sundry expenses Independent examination Accountancy Analysed between Charitable activities |
Support costs Governance costs £ £ 1,577 - 608 - 535 - 500 - 4,614 - 113 - 1,551 - - 1,410 - 2,124 9,498 3,534 9,498 3,534 |
2022Support costs Governance costs £ £ £ 1,577 1,519 - 608 683 - 535 - - 500 - - 4,614 1,850 - 113 - - 1,551 400 - 1,410 - 1,340 2,124 - 1,684 13,032 4,452 3,024 13,032 4,452 3,024 |
2021 £ 1,519 683 - - 1,850 - 400 1,340 1,684 |
|---|---|---|---|
| 7,476 | |||
| 7,476 |
Governance costs includes payments to the independent examiners of £1,410 (2021: £1,340) for examination fees and £2,124 (2021: £1,684) for other services.
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration from the charity during the year other than some of the Trustees' children being employed by the charity and paid at market rate. There were incidental travel costs of £Nil (2021: £Nil) reimbursed to trustees for carrying out the charity's charitable activities.
9 Employees
The average monthly number of employees during the year was:
| Coaches and support staff Employment costs Wages and salaries Social security costs Other pension costs |
2022 Number 23 2022 £ 238,237 11,001 4,731 253,969 |
2021 Number 19 |
|---|---|---|
| 2021 £ 199,564 7,382 4,339 |
||
| 211,285 |
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
9 Employees
(Continued)
Amounts paid to Key Management Personnel during the year were £37,600 (2021 - £36,000).
There were no employees whose annual remuneration was more than £60,000.
10 Tangible fixed assets
| 10 | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures, fittings & equipment | |||
| £ | |||
| Cost | |||
| At 1 July 2021 | 214,988 | ||
| Additions | 1,032 | ||
| At 30 June 2022 | 216,020 | ||
| Depreciation and impairment | |||
| At 1 July 2021 | 160,495 | ||
| Depreciation charged in the year | 13,881 | ||
| At 30 June 2022 | 174,376 | ||
| Carrying amount | |||
| At 30 June 2022 | 41,644 | ||
| At 30 June 2021 | 54,493 | ||
| 11 | Debtors | ||
| 2022 | 2021 | ||
| Amounts falling due within one year: | £ | £ | |
| Prepayments and accrued income | 3,863 | - | |
| 12 | Loans and overdrafts | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Bank loans | 46,064 | 50,000 | |
| Payable within one year | 9,629 | 4,167 | |
| Payable after one year | 36,435 | 45,833 |
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
13 Creditors: amounts falling due within one year
| Notes Bank loans 12 Other creditors Accruals and deferred income 14 Creditors: amounts falling due after more than one year Notes Bank loans 12 |
2022 £ 9,629 1,016 3,174 13,819 2022 £ 36,435 |
2021 £ 4,167 848 2,963 |
|---|---|---|
| 7,978 | ||
| 2021 £ 45,833 |
15 Retirement benefit schemes
Defined contribution schemes
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.
The charge to profit or loss in respect of defined contribution schemes was £4,339 (2021: £3,547).
16 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Balance at | Transfers | Balance at | Transfers | Balance at | |
|---|---|---|---|---|---|
| 1 July 2020 | 1 July 2021 | 30 June | |||
| £ | £ | £ | £ | 2022 £ |
|
| Capital fund | 72,657 | (18,164) | 54,493 | (12,849) | 41,644 |
| 72,657 | (18,164) | 54,493 | (12,849) | 41,644 |
The capital fund represents fixed assets which are used in the course of carrying out the charity's objects and, as such, they are not readily realisable. The transfer in the year represents the movements in the carried forward balance of fixed assets, taking into account additions, disposals and depreciation.
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WICKERS GYMNASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
17 Analysis of net assets between funds
| Unrestricted funds Designated funds 2022 2022 £ £ Fund balances at 30 June 2022 are represented by: Tangible assets - 41,644 Current assets/(liabilities) 206,283 - Long term liabilities (36,435) - 169,848 41,644 |
Total Unrestricted funds Designated funds 2022 2021 2021 £ £ £ 41,644 - 54,493 206,283 218,018 - (36,435) (45,833) - 211,492 172,185 54,493 |
Total 2021 £ 54,493 218,018 (45,833) 226,678 |
|---|---|---|
18 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
The adult children of four of the Trustees' were employed by the charity during the year. They were paid at the market rate and their gross wages totalled £65,346 (2021: £55,034). One of these employees was the CEO and Key Management Personnel.
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