REGISTERED COMPANY NUMBER: 06934613 (England and Wales) REGISTERED CHARITY NUMBER: 1139993
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
FOR
WICKERS GYMNASTICS LTD
Galloways Accounting 15 West Street Brighton East Sussex BN1 2RL
WICKERS GYMNASTICS LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
WICKERS GYMNASTICS LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their annual report and financial statements for the year ended 30 June 2024. 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
Objectives and aims
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.
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In the year end to 30th June 2024, the Club has continued to experience a steady increase in growth, and increased attendance in all sessions.
Birthday party bookings continue to be popular, with bookings being taken 4 months in advance and within hours of releasing the available dates, most are booked up.
Competition success and impressive results continued with 5 gymnasts selected for the Sussex County Artistic Squad and 2 for the South East Regional Squad; and both the General Gymnastics and Womens Artistic Squads continued to have medal success at local, county and regional competitions. 2 members of the Womens Artistic Squads also represented the South East Region at National Finals, as part of the Regional Team.
Within the year, 1 trainee staff member passed their Level 1 coaching exam; 1 staff member completed their Level 2 qualification; 2 staff members passed their Level 3 Modules, and 1 staff member passed their Preschool qualification. The Club has linked with Taunton and Somerset College and British Gymnastics to offer an Apprenticeship Scheme. The Club is now a recognised Employer offering the scheme and is looking to appoint its first apprentice.
FINANCIAL REVIEW
Financial position
Income for the year end totalled £625,619 (2023: £513,406) and expenditure totalled £595,408 (2023: £460,737).
The charity made an overall surplus of £30,211 (2023: surplus of £52,669) for the year.
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The Trustees consider 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 £236,750 which equates to over 4 months, therefore are in line with the current 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 LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
FUTURE PLANS
As the Club has had significant growth over the last year, the plan for the next financial year is to focus and review the current practices in place to retain membership and ensure continued and steady progress in performance.
In order to do this the plan is:
-
To review the daytime programme on offer, and consider new ideas.
-
To review the Management Teams Roles to ensure more effective job roles.
-
To continue to promote the coach education programme ensure all staff have the opportunity to further their careers.
-
To develop and promote the Apprenticeship Programme at the Club.
-
To consider Inter-generational opportunities focused on the British Gymnastics Love to Move Scheme.
-
To appoint the Clubs first Apprentice to start in the new academic year (September 2024), and to work closely with the providers to ensure the apprenticeship is productive and engaging.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The organisation is a charitable company limited by guarantee, incorporated on 15 June 2009 and registered as a charity on 24 January 2011. The company was established under a Memorandum of Association which established the objects and powers of the company, and is governed under its Articles of Association.
Recruitment, appointment and training of new trustees
The directors of the company are also charity trustees under charity law. Further directors may be appointed by the existing board. Upon appointment new trustees follow a policy of induction which involves awareness of a trustee's responsibilities, the charity's governing document, its administrative procedures, and the history and philosophical approach of the charity. They also receive copies of the previous year's annual report and accounts and a copy of any guidance from the Charity Commission. Further training may be provided, if required.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute an amount not exceeding £10 in the event of a winding up.
The Trustees' report was approved by the Board of Trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06934613 (England and Wales)
Registered Charity number
1139993
Registered office
15 West Street Brighton East Sussex BN1 2RL
Trustees
J E Crouch A D Crouch G Hodgson E V Roberts K L Sawyer J Sharp M S Wren M Farrell
Company Secretary
K L Hodgson
Independent Examiner
Galloways Accounting 15 West Street Brighton East Sussex BN1 2RL
Approved by order of the board of trustees on 5 February 2025 and signed on its behalf by:
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WICKERS GYMNASTICS LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
G Hodgson - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WICKERS GYMNASTICS LTD
Independent examiner's report to the trustees of Wickers Gymnastics Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
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
-
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.
C S Young BA FCA
Galloways Accounting 15 West Street Brighton East Sussex BN1 2RL
11 February 2025
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WICKERS GYMNASTICS LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024
| 2024 Unrestricted Restricted Total funds fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Charitable activities 3 Gymnastics coaching 622,869 - 622,869 Other trading activities 2 - - - Other income 2,750 - 2,750 Total 625,619 - 625,619 EXPENDITURE ON Raising funds 4 1,305 - 1,305 Charitable activities 5 Gymnastics coaching 594,103 - 594,103 Total 595,408 - 595,408 NET INCOME 30,211 - 30,211 RECONCILIATION OF FUNDS Total funds brought forward 264,161 - 264,161 TOTAL FUNDS CARRIED FORWARD 294,372 - 294,372 |
2023 Total funds £ 509,319 2,760 1,327 |
|---|---|
| 513,406 | |
| 4,959 455,778 |
|
| 460,737 | |
| 52,669 211,492 |
|
| 264,161 |
The notes form part of these financial statements
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WICKERS GYMNASTICS LTD
BALANCE SHEET 30 JUNE 2024
| Unrestricted Restricted funds fund Notes £ £ FIXED ASSETS Tangible assets 11 57,622 - CURRENT ASSETS Debtors 12 39 - Cash at bank and in hand 274,598 - 274,637 - CREDITORS Amounts falling due within one year 13 (9,210) - NET CURRENT ASSETS 265,427 - TOTAL ASSETS LESS CURRENT LIABILITIES 323,049 - CREDITORS Amounts falling due after more than one year 14 - - PROVISIONS FOR LIABILITIES 17 (28,677) - NET ASSETS 294,372 - FUNDS 18 Unrestricted funds TOTAL FUNDS |
2024 Total funds £ 57,622 39 274,598 274,637 (9,210) 265,427 323,049 - (28,677) 294,372 294,372 294,372 |
2023 Total funds £ 48,338 282 256,408 256,690 (14,268) 242,422 290,760 (26,599) - 264,161 264,161 264,161 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5 February 2025 and were signed on its behalf by:
G Hodgson - Trustee
The notes form part of these financial statements
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WICKERS GYMNASTICS LTD
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 79,515 | 72,390 |
| Net cash provided by operating activities | 79,515 | 72,390 | |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets | (24,866) | (23,616) | |
| Sale of tangible fixed assets | - | 1,001 | |
| Net cash used in investing activities | (24,866) | (22,615) | |
| Cash flows from financing activities | |||
| Loan repayments in year | (36,459) | (9,606) | |
| Net cash used in financing activities | (36,459) | (9,606) | |
| Change in cash and cash equivalents in | |||
| the reporting period | 18,190 | 40,169 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 256,408 | 216,239 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | 274,598 | 256,408 |
The notes form part of these financial statements
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WICKERS GYMNASTICS LTD
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2024
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 30,211 | 52,669 | ||
| Adjustments for: | ||||
| Depreciation charges | 15,583 | 10,056 | ||
| Loss on disposal of fixed assets | - | 5,865 | ||
| Dilapidations | 28,677 | - | ||
| Decrease in debtors | 243 | 3,581 | ||
| Increase in creditors | 4,801 | 219 | ||
| Net cash provided by operations | 79,515 | 72,390 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.7.23 | Cash flow | At 30.6.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 256,408 | 18,190 | 274,598 | |
| 256,408 | 18,190 | 274,598 | ||
| Debt | ||||
| Debts falling due within 1 year | (9,859) | 9,859 | - | |
| Debts falling due after 1 year | (26,599) | 26,599 | - | |
| (36,458) | 36,458 | - | ||
| Total | 219,950 | 54,648 | 274,598 |
The notes form part of these financial statements
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Wickers Gymnastics Limited is a limited-by-guarantee company incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.The address of the registered office is given in the Trustees' Report of these financial statements.
The financial statements are presented in sterling (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Gymnastic fees and sponsorships:
Fees income is raised in advance of sessions and is 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.
Government grants:
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.
Donations and gift aid:
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.
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.
Allocation and apportionment of costs:
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 financial statements, 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment
25% Reducing balance
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. INCOME FROM CHARITABLE ACTIVITIES Activity Fees and sponsorships Gymnastics coaching Hire of facilities Gymnastics coaching 4. RAISING FUNDS Raising donations and legacies Events and fundraising 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ Gymnastics coaching 508,828 |
2024 £ - 2024 £ 611,394 11,475 622,869 2024 £ 1,305 Support costs (see note 6) £ 85,275 |
2023 £ 2,760 2023 £ 508,959 360 |
|---|---|---|
| 509,319 | ||
| 2023 £ 4,959 Totals £ 594,103 |
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
6. SUPPORT COSTS
| Management £ Gymnastics coaching 50,700 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Deficit on disposal of fixed assets Independent examiner's remuneration - independent examination Independent examiner's remuneration - other services |
Governance Other costs Totals £ £ £ 28,677 5,898 85,275 2024 2023 £ £ 15,582 10,056 103,533 102,841 - 5,865 2,070 1,800 3,828 2,352 |
Totals £ 85,275 |
|---|---|---|
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
9. STAFF COSTS
10.
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Coaches and support staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Gymnastics coaching 509,319 Other trading activities 2,760 Other income 1,327 Total 513,406 EXPENDITURE ON Raising funds 4,959 |
2024 £ 310,439 15,259 4,906 330,604 2024 22 Restricted fund £ - - - - - |
2023 £ 237,189 10,922 4,466 252,577 2023 21 Total funds £ 509,319 2,760 1,327 |
||
|---|---|---|---|---|
| 513,406 | ||||
| 4,959 |
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds £ Charitable activities Gymnastics coaching 455,778 Total 460,737 NET INCOME 52,669 RECONCILIATION OF FUNDS Total funds brought forward 211,492 TOTAL FUNDS CARRIED FORWARD 264,161 11. TANGIBLE FIXED ASSETS COST At 1 July 2023 Additions At 30 June 2024 DEPRECIATION At 1 July 2023 Charge for year At 30 June 2024 NET BOOK VALUE At 30 June 2024 At 30 June 2023 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
Restricted Total fund funds £ £ - 455,778 - 460,737 - 52,669 - 211,492 - 264,161 Fixtures, fittings & equipment £ 167,237 24,866 192,103 118,899 15,582 134,481 57,622 48,338 2024 2023 £ £ 39 282 |
|---|---|
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 £ Bank loans and overdrafts (see note 15) - Other creditors - Accruals and deferred income 9,210 9,210 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 15) - 15. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Bank loans within one year - Amounts falling between one and two years: Bank loans after one year - 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 £ Within one year 113,880 Between one and five years 351,130 In more than five years - 465,010 17. PROVISIONS FOR LIABILITIES 2024 £ Provisions 28,677 |
2023 £ 9,859 810 3,599 14,268 2023 £ 26,599 2023 £ 9,859 26,599 2023 £ 75,920 455,520 9,490 |
2023 £ 9,859 810 3,599 |
|---|---|---|
| 14,268 | ||
| 2023 £ 26,599 |
||
| 2023 £ 9,859 |
||
| 26,599 | ||
| 540,930 | ||
| 2023 £ - |
In line with the current terms of the lease of Units 9 & 10, at the end of the lease term the units must be restored to their original condition.
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
18. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.7.23 | in funds | funds | 30.6.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 215,822 | 30,211 | (9,283) | 236,750 |
| Designated funds | 48,339 | - | 9,283 | 57,622 |
| 264,161 | 30,211 | - | 294,372 | |
| TOTAL FUNDS | 264,161 | 30,211 | - | 294,372 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 625,619 | (595,408) | 30,211 | |
| TOTAL FUNDS | 625,619 | (595,408) | 30,211 |
Comparatives for movement in funds
| Net movement At 1.7.22 in funds £ £ Unrestricted funds General fund 169,849 52,669 Designated funds 41,643 - 211,492 52,669 TOTAL FUNDS 211,492 52,669 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 513,406 TOTAL FUNDS 513,406 |
Transfers between At funds 30.6.23 £ £ (6,696) 215,822 6,696 48,339 - 264,161 - 264,161 Resources Movement expended in funds £ £ (460,737) 52,669 (460,737) 52,669 |
|---|---|
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WICKERS GYMNASTICS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated funds TOTAL FUNDS |
At 1.7.22 £ 169,849 41,643 211,492 211,492 |
Net movement in funds £ 82,880 - 82,880 82,880 |
Transfers between funds £ (15,979) 15,979 - - |
At 30.6.24 £ 236,750 57,622 |
|---|---|---|---|---|
| 294,372 | ||||
| 294,372 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,139,025 | (1,056,145) | 82,880 |
| TOTAL FUNDS | 1,139,025 | (1,056,145) | 82,880 |
The designated 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.
19. RELATED PARTY DISCLOSURES
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 £92,462 (2023: £72,882), reimbursed expenses were also made to these parties totalling £2,496 (2023: 3,269) One of these employees was the CEO and Key Management Personnel.
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WICKERS GYMNASTICS LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| INCOME AND ENDOWMENTS Other trading activities Fundraising events Charitable activities Fees and sponsorships Hire of facilities Other income Other interest income Total incoming resources EXPENDITURE Raising donations and legacies Events and fundraising Charitable activities Wages Social security Pensions Rent and rates Insurance Light and heat Advertising BG membership Coach education Competition expenses Clothing, badges and certificates Staff training Travelling Cleaning Repairs and maintenance Entertainment Hire of equipment Minor gym equipment Sponsorships and donations Holiday camp activities Support costs Management Printing, postage and stationery Telephone and internet Subscriptions Bank loan interest Legal and professional Bank charges Carried forward |
2024 £ - 611,394 11,475 622,869 2,750 625,619 1,305 310,439 15,259 4,906 103,533 1,638 12,600 4,745 3,929 2,815 9,502 8,553 163 3,691 15,772 4,092 372 1,360 3,469 1,000 990 508,828 2,581 868 1,059 570 27,529 83 32,690 |
2023 £ 2,760 508,959 360 |
|---|---|---|
| 509,319 1,327 |
||
| 513,406 4,959 237,189 10,922 4,466 102,841 1,615 8,571 3,769 2,982 1,683 11,522 8,032 - 7,788 11,505 7,698 330 933 4,550 - - |
||
| 426,396 1,378 758 359 1,043 5,210 60 8,808 |
This page does not form part of the statutory financial statements
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WICKERS GYMNASTICS LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| Management Brought forward Sundry expenses Computer running costs Fixtures, fittings & equipment depreciation Loss on sale of tangible fixed assets Other Dilapidations Governance costs Accountancy fees Independent examination Total resources expended Net income |
2024 £ 32,690 1,976 451 15,583 - 50,700 28,677 3,828 2,070 5,898 595,408 30,211 |
2023 £ 8,808 501 - 10,056 5,865 |
|---|---|---|
| 25,230 - 2,352 1,800 |
||
| 4,152 | ||
| 460,737 | ||
| 52,669 |
This page does not form part of the statutory financial statements
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