Clwyty rn¥i8t￿loti nuttiber. 1140377 Fenland Gymnastics Academy for tkn Y¢arEnde4 31 D￿rmber 2023 Fenlxlld Gymna•tlcJ Aeademy ContentB 2to3 of Tn￿tee8, Re8POD8ibilitie• ststrnt of Fin1￿CiAl A¢tsvAtice Nots8 to th• Finwwial Ststeinents 8ttr15 Fenland Gymna8tlc4 Aeademy Referenee and AthDlnhtradv¢ Detalli mic1￿cla Elam EIiz4beth Buttle Toni Cl£rk PrIDe[p￿ Offle* 21 Al8orei WAY Wisbe CAmb8 PE13 2TQ CknArlty R**doD Number 1140377 B￿ther• HSBC I Cornhill Wiybech PE13 INA TC Grnp 9110 The Cre4cent Wi6Eech PE13 IEH Fenland Gymna8tlu Academy Truitea, Report Tr tN8tee8 pre8ellt the report togcther with the fill￿￿]81 Btatern￿ts of the charity for the year 31 Decallb¢r 2023. Objecdvoi *ttlvltle• Objeets ebi]itie8 fromperforrn￿e 8ynmutics to ft>uTbdAtion l¢vel and provide bigb perfOrn￿ Bymnastics facilitie& for the benefit of th¢ tnbabitonts of W]6b￿￿ 8nd Nurou* areB& Together with the promotion of comTnunity b¢n¢fi¢ Fejdand (}ymna￿ Academy ij committed to the provision of quality facilitse8 Wld tbe develiwmeut of The c4)nfirm tht they have t4)mp]i¢d with the requirneats of Section 17 of the Charitie8 kn 2011 to havo du¢rewd to the publtc bttteftt Buidallce publiBhed by the Charity Comri￿ for FLg]alld Wthj. Th¢ l¢ve18 of¢￿[elerVeQUe reviewed onaTrBulArbft8iS. Stru¢tllrfy 8(•vern#n¢¢ Ind ￿￿￿￿eMellt NAthre ofzovernin8documen¢ The eTrllrity'i governing docwnatt is a consti￿tIon &dcyted on I l Febnwy 2011. The trathd8hve the t￿¢￿t0 app)int atty per￿ll a8 • Objeedves 4ndpolici The cb8rAty'8 aFtivitie• expo8e it to a numbet of fi￿¢111 riaky iDclwdiD£ credit rJ8K cosh fiow risk gnd liqoidity risk The offiDanGial d¢riVati￿￿ IB goverDedby the clwity'8 policies approveAby the}￿ ofttu8tee8. whith pmvide written principle& L)n the u3¢ of finaacial d￿1v￿1ve8 to nwjage tbeK rith. The chArity doei u9e Pase 2 Fenland Gymllailia Aeademy rlsk The cb8tity en8uTe8 tbat it is able to me¢t commitments on a day tr) day basi8, it 18 aLpoAed to the fjnallcx￿ rAak8 The clwity'8 credit ri8k 18 prin)anly attributable to its trade rw¢ivabks. The arn¢Junts pwwt¢d ia the bal thet are net of allowonce* for doubtful tt¢eivable8. An thance for Irr￿1r￿t 18 ]nad¢ wh¢Tr th￿¢ is An identified 1088 event which, based on previou8 experiawx, 18 of a rthion in the r£￿v￿?b1lity of thc ¢Mh t10￿. The ¢ttdit Ti8k OD b￿ld fimd8 and derivative fJnan¢ial I￿truments 18 l1mltedbeea￿ the L•orties are both with bigb credit.ratillg# ￿l8￿j by internfttional credit.rating agenci￿. The ¢lthrity bas no #I￿]fiCAnt CODmitr•tioD of credit ri& with expr￿ sprnd over a large of Llqmldlty developmenty the clwity its operatin8 ca8b tlows in orthr to rn￿t ¢ommilm¢Dts and obhsation$ 48 th¢y fall Cre4Utor plyment poU¢y The aDm￿L report was approved by the Intstet4 of the clwity (bn .. ..... ..... aDd its b¢hdf by. Trusts FenlAnd Gymni8de4 Academy Statement of Trustse8' Reipon8lblllti UnAted Kingdom AccoitntiD8 Standards (United KlDgd(￿j Oen¢T&lly Accepted Accountin8 Prncticel al 8ppli¢8ble law and re8ulatioo8. sive a tNe aad fair view of the state of affaiTr of the cl]arity of the incomiDB reKAllreB and applic&tioll of 8el¢¢t 8uitsble 4¢¢4)uniing po]icie& ond then apply them COD8iBtendy> Obe￿ tbe methoth Al￿ principles in the Cbaritie4 SORP: prepare the finAncial 8tstements onthe Boing CODCern basi8unk48 it 18 inapprwts to pretame thatthe clwity The trpJ6ttts are re8ponsib￿ for Win8 woper a¢¢ountiog word8 that disc105e with re8WDabk accurncy 4t time the fum￿141 position of th¢ ¢horiry gnd enabk th¢Jn to ¢n8ure that the fJnancio] Blatements c(vnply the Charitie8 Act 201 l. the applicHble ChqTitieB (Aw)unts and Rtyorts) Rt8utstions and the proviBiou of the con8titution. Ibe tN8tre6 are alw Te4p)nwlJle for 6thK4wthllg the al￿ts of the cljariry and henc4 for tthn sojable 8tCP8 for the pr¢V¢￿tt{M deteclititi of fraud other irreBukntie8. App￿Ved by th tru8tee4 of the cknity on ... . . .... . ond Biglled on itsb¢half by. QfvL TN8tr£ P4B¢ 4 Fenland Cynmagtlu Aeaden Independent ExADthier'i Report to the trulteei of Fenland Gymna8tlc4 Aeademy i r¢wt to the charity trpJ8te¢8 on my ￿￿11￿110￿ of the aCC4)unts of tkn ¢harity for the year ¢lld￿ 31 Decen 2023 which are 8et on page8 6 kn 15. Rupeetlve re￿O￿￿jud￿ of tnthi gnd QXXDthw in aCcOrd8￿C with the rqUirean￿ of thÈ chariti￿ Act 2011 ('th¢ Act). 145 of the 2011 Act olld in e4rrying otst my exarni￿ I have followed ￿ the app]ic8ble DirEctiom given by the Cb&Tity cornm￿0n under Aethion 145(5)(b) of the ACL Ind￿endellt exarnlner*i otAtemeDt l. ac• rn)lll¥ wvr notk¢pt irL r¢opxt of Fdand GymnaJtiC8 Academy ab Thquirtd by iKtion 130 of theA¢or 3. the wAounts do llol comply with the accountin8 rtquirnents coticelw the fonn and ¢onteni of a¢¢ounts t out in the Ch￿ltie8 (Accouats and Reports) Re8ul&tion8 2LK)8 otEvr thall ally t¢quir¢llmt iknt the should ￿ drnvm iti thi8 in ord¢r to ULabl¢ J pr(yperutth*￿ of the accounts to be Teached. TC Gmp 9110 The Crea¢￿t Wisb¢¢b Cambo PE13 IEH F¢nland Gymn4rtlu Audemy Statement of FlnAnclal Actlvhlu by fund for th¢ Year Ended 31 Dewthr 2023 Tot•1 2023 Total 7A122 Unreltrlrted Note Income And Endovrnients from: Donations and legacies Cbaritsble actI￿lieS 194 76,691 64932 819 142,636 194 76,691 64,932 819 142.636 163 70.671 39.133 110.051 E4)endltsre on: Raistng fund8 ChaTitsbl¢ activitics (35544) (99,924) (10917) 146J85) (35,544) (99,924) 10,91 146,385) (25255) (79.575) 111.0661 1115,896) (3.749) (3,749) (5,845) Reeondlladon of fundi Total fund8 brought forward 101204 101204 107,049 97,455 97,455 101204 All of the charitys actiTritie8 derive from contimllng operation8 (knring the abov¢ two p¢riod8. The note8 on pag¢$ 8 to 15 forni an inte￿1 part of the8e fjnancial 8tatcm¢nts Page 6 Fenland Gyn]naittu Academy (Reglstrltton number :1140337T) Balance Sheet a8 at 31 Deeember 2023 2023 2022 Note Ftxed AX8ets Tangible assets 13 44.289 49220 Current Miets Debtors Ca8h at bank and in haThl 14 15 1.800 68.896 70.696 878 56,182 57.060 Credftor8: Amounts fAIIIDg dllt TAthln ont year 16 17 31 5.17 Net cuzreDt a88ets 53.166 51.883 Net a88ets 97.455 101204 Funth ofthe eknrlty. UDrutrlcted Income fund• Unrestrictol fuxy]8 97.455 101.204 Th¢ fina￿181 8tstem¢nt8 pn pages 6 to 15 wcrc approval by the tru8tee8, and authori&ed for i8suc on and on tbcir bchalf by: GIlo4iwb Tru&l¢e The notes on page8 8 to 15 form an inte￿1 part of the8c fijjancial 8tatanents Pa8e 7 Fenland Gynmartk8 Academy Note• to the FIDaDclAI Statsments for the Yw Ended 31 Dettmber 2023 l Ateovnttttz po]Id•• Ststement of eompll The fin￿191 thtements have beorting by Cbaritie8.' Firjattcial Rewtng Statthrd applicable inthe UK aodRepublic of Irelond (FRS 102) (effe£tive l JaTllWy 2015) . {ClJaritieÉ SORP (FRS 102)). the FitionciAI Reportin8 Standard apryjll￿bIc in the UK and Republic of IrelaDd IFRS 102) and Ihe Ckwitiu A¢t 2011. of prepar•lloll Fenlaod (tymllosti¢8 Acadttlly 2ne£ts the definition of a public bellefit elltity under FBS 102. As8etB and liabihti¢g policy notro. Xxempthll from prepvkng a ¢a•h liow rtAtement The chArity opted to early Bulletin I published on 2 Febw 2016 and Iwve therefore not incb￿ded a ¢a8b Income and eDdoTvmentJ Vohmt8ry income iDcluding dollht1￿, 81ts. le8a¢ie# and ￿1$ that provlde Cott fLmding or are of 8 pJ¢rnl nature 18 reco8niBed wben the cbarity bas eutitlozlleuttotbe income. it is probabk that the iaCOfLevrill bc rx¢ivpAI lJoRAlioxs leKacle8 Donatiojjs aDd l¢gaci¢B arc recogni&td on a rtcxivable b￿1& when receipt is probable and the gmount can bo re]iably MeA8ur￿l. Graots ate wllen the charity an etLtidc4llent to the fimds alld ally ￿)ndItiO￿l lithd ts) th¢ gtants Iwe been meL Where perfOrn￿ conditions are attach￿1 to the grant and aTe yet to be mel th¢ incoti reco8ni&ed u a Jiability and included on tbe bal￿¢ Jheet a6 defery¢d incoJDe to be Te1eaJ￿1. InvestheAtineome Dividend8 rwoised on¢4 the divtdend b88 be¢n de¢larnl alld no1ifi¢a(I￿ ba8 been rt¢eiv¢d of Ih¢ dividend Pa8e 8 Fenland Gymnastle4 Academy NO￿ to the FlllAnelal Statements for the Year Ended 31 December 2023 All expetiditur¢ 16 fwlli8eA onrx there li a 1¢8AI or constn￿tIve obliBatioD to that ¢xpettditsre, it 18 PTobabh etti¢meAt 18 Trquired alld the aDU)UDt bt me￿jyed reliably. All ￿t8 •Tr allo¢8ted to the applicabh expendltswe he&diog that a88regate 8imi]w C(￿ to that cateBory. Wh¢r¢ w81s ¢allnoi be diT￿y attnbjtsl perti¢th headmg8 th¢yb&ve been alloGatyJ on & ba8iS col￿]8telltWlth theu* ofre80UW¢8. with central thff all￿8￿1 on the ba•is of time ond depttciatioD cbarge¥ allo¢ated Oll the portsoti of the uio. O 8UPPOrt ¢0gts are allocated ba8ed on the spread of 8taff coi Charltable eXP￿dIture cotiwiou thrJ8e co8t8 incuntd by the thiity iti the dejiwy of its activitieB alld 8Erviccg for its b￿efiCi￿rIc￿. It include* both costs that can be allocated dire¢¢ty ts) 8uch ￿￿vItIe6 th08e Go8ts of a These include tbe cots atthl)utable kn the chaTity'I ¢ompliance with constit￿l0ft￿ and sta￿tOry n4U]reMe￿ Govcrnment 8rants are reco8DiwJ baKd on the accDJal llLodel and are at the fair value of the 18JBt re￿IVed or rec4ivabk. GTrnts ¢lwified ag relating eAther tD rtvenue or to a88ets. Grants relating to rtvem aTe reco8ni8&J ill inme over tbc period in wbich the relAt&l Cots are reeo8n1￿d. Grants zelating to aJ8ets are re￿o￿lSed over tbe expected uxful life of the a80eL Whtre pirt of & 8r8nt re]atin8 to arl aluet 16 d¢fwre4 it 18 The cbarityts ¢on8id¢red to PO88 the te8ts 8et out inP4rnwph I Schethlle 6 ofthe Final￿e Act 2010 lllld there it meets the d¢fjniiion of a clwitable company for UK COr￿)￿tiOn purposu. knordiogly, the cbarity tidlly ¢xallpt from twtion ID resppxt of income or ￿p1th1 gAin8 received withio cul¢gwie8 covered by CbHptez 3 Part I l of the co￿OratiOnTaX Act2010 or Section 256 of the Taxation of ch￿ble Gal￿ Act 1992. to the ￿tellt that fjpwh inrojlle or gain8 are app]ied treluBively to cljaritable Tan8lble fixed iimts Indiiidual r￿ed asfiets cooting £IJO.00 OT mffe ore initially r￿Orded at cosL ieju any wbjcqueut a¢cLu￿￿3 d¢pre¢iotion and wb8equeDt xcumuiyted inyirmt los￿ l)tpre¢latlon •nd amortimdon Dtpre£iatioD 18 prtiYidedon*Trle fjxedaBSets xTr ajto vnite offthe CA)Atorvaluatio4 ie8s any e8timat¢dre8idual valu4 over their &Tpe¢ted economic life u fo)1 ikpr¢cSadoll method and r•te 15% redocillg baloL¢¢ Plant wuipment P￿9 FenlAnd GymnaBde8 Academy IYote8 to the Flnandal Statements for the Year Ended 31 December 2011 TrAde debto of bu8inc41. uaing the efft¢tive interest metho4 le88 proTriw forimppinn¢nt. A pmNi&ion for the Impalnll￿ltof d¢btQT& ys ¢$tab]is1￿1 wh¢n there 18 obieclive elridencethat the cbwmllnotbeable to collectall amountsth* A¢¢ordin8 to th¢ wi8inal terw of the retxivable Calh and eq￿V￿￿tI Ca8b and ¢98h equivalents ca8honhand￿Call d￿)￿1￿ and othu qbort.tennW liqwd inve•tsnmts that 8ff r¢adily converttTr+le to a known allLOWIt of cath aod are subject to an I￿1&￿￿¢0￿t rigk of ¢baD8e iti vabJe. Trade cre4Jltori ore obli8ation8 to pay for or sErri¢e8 that h&ve been wuirul ID the 0￿1￿￿￿ ¢(xTh of buaine8B from pp]ieTh. Accounts payHble 4rE Gla8&ified 88 current liabiJitr* if the doe8 Dothave en ul￿OndItiOn￿ ri8bi at the elld of the rwting peri￿ to defer 8ettletLent of the credityr for at ]e48t twelve month& atl¢r the r¢portin8 dat tf there ig arl U1￿1)]￿tioDUI right to defer ￿ttIC￿ellt for at kaBt twelve months tbe ryitin8 date. they are If￿8n1¥ed initially At the tran8aotiorL ￿lee aod Xthleq￿t]Y at ￿￿ortA￿ ¢08t using tbe ethtive Fund •tructure the objective8 of the charity. Pu￿0￿# •nd other port retlrement obllz%tlo The clwity operates a defined ben¢fitp¢nJititi ￿llerne. Typically defjned bellefitp]￿ d¢fin¢ oll amount of pen8ioD b¢n¢fit that all employee will receive on rctitemenl u&ually dwdent on one or more facton Juth The liability rcugni8ed iti the B￿lleC Shezt in reBpe£t of derm￿ knfitpeDJion plauj i8 the present value of the defittedbettefit obligation at the reporti￿ date minu6 the fair value of plan aMgt& The defjned benefit obli8ation 18 meH8urèd uJiJJ8 the proj#ted utiit credit Thepre4ent value of the d¢fintd benefit oblig&tson 18 deter￿ by di8countiDg tbe futwe payments by refer￿ to yi¢ld& ￿ the repotting date on ￿￿ti.qUality bondB that are deaominated in the GU￿ in which the be￿fits will be paid that kn¢ trrni8 to ￿￿tUrIty apwximatiDg to the t¢rn￿ of th¢ r¢]at¢dp¢neion lthility. Pwlo Fenland GYmn￿d￿ Academy ly0￿ to the FlnallclAI StAtsments for the Year Ended 31 December 2023 dedlleti￿ all of its ]iabiliti¢ (vthich 18 nornully the ItaD8artiollprice eAcludiD8 ti￿a￿lOn colts). unle88 the aTra8eID¢nt cimbtitytej a fin￿￿ill8 thE pre4eot value of the futtwe puymellts dtscounled it a mArket rale of intwe* for & Aimilar debt irAttpJtne a le8filly enforceable right to Set off the Te