The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29[th] November 2024. The Trustees have adopted the provision of 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[st] January 2019).
Objectives and Activities
Objectives and aims
The charity is governed by its Articles of Association.
The charity’s purpose is to:
-Provide facilities for the local community to participate in amateur sports and leisure activities. -Provide sports activities in a safe, clean and supervised environment.
How our activities deliver public benefit
We follow Charities Commission guidance on public benefit and the charging of fees with our objects.
The charity provides gymnastics and other physical recreation facilities for the benefit of young people in Cardiff and the surrounding areas. The charity is situated in a socially deprived area of the city (the area of Splott, where the charity is based, is in the 10% most deprived areas of Wales as declared in the 2019 Welsh Index of Multiple deprivation).
Gymnastics requires specialist equipment and high ratios of qualified coaches to gymnasts to meet requirements of the Governing Body. The charity will always need to charge fees for the use of the facilities. However, we constantly review our fee structures and spending to ensure that activities are as affordable as possible.
The charity provides gymnastics training with British Gymnastics and Welsh Gymnastics qualified coaches. We offer opportunities for young people to participate at all levels of gymnastics. We also host competitions.
The gymnastics facilities are open seven days a week, offering a variety of activities to suit all ages and abilities. These include but are not exclusive of;
Parent and toddler play gymnastics sessions Structured tiny tumblers gymnastics session Pay as you go recreational gymnastics sessions Recreation gymnastics courses Girls Novice Squad Girls Advanced Squad Boys Novice Squad Boys Advanced Squad Teen Gym Adult recreation sessions
We aim to introduce young people to the rewards of living a healthy, physical lifestyle. We teach the importance of regular exercise, healthy food choices and aspire to inspire young people to enjoy a healthy lifestyle.
Achievements and Performance Achievements and performance summary
The cost of running a large gymnastic facility, ensuring that it is staffed and equipped to the national governing standards to meet safety and welfare needs is always high. This is reflected in the accounts this year. Staffing is the main cost, and staffing numbers have been stabilised following the previous year’s staffing review although continually ensuring sufficient coaching resources at scale remains a significant challenge. There has been an increased focus on staff development with investment in further training so more staff can coach at a higher level.
There has also been further investment in health and safety and external consultants are to be engaged to support best practice in health and safety as well as improved staff management. This is a primary concern to trustees who recognise the particular risks attached to the sport of gymnastics in relation to safeguarding and wellbeing which is high profile especially in relation to women’s gymnastics. Finding and retaining enough trustees to robustly govern the club is challenging. A recruitment drive to increase bord members is intended for the coming year.
The club has continued to benefit from the support of the Cardiff City Council and has remained in dialogue with respect to the negotiation of the lease on a peppercorn rent. Heads of terms are agreed. It is hoped that the lease will be resolved shortly.
Investment performance
This year the Charity has consolidated its costs to provide its purpose.
Gymnastics equipment to the value of £4,011 was purchased during the year.
Trustees
Currently there are three trustees, and the club is always looking for suitable additional trustees for the Board. However, recruiting trustees with the right blend of skills and objectivity as well as willingness to accept the risks of a gymnastics club is difficult. Recruitment is ongoing.
Financial Review
Financial position
The charity made a deficit of £13,964 (2022/23: deficit of £8,122). The total unrestricted net assets stand at £27,394 (2022/23: £41,358).
Income increased to £406,378 (2022/23: £383,734), with the easing of covid restrictions across England and Wales.
The main area of cost growth is due to wages and salaries as the club. There have also been significant increases in energy costs. As staffing numbers have increased the club has outsourced its HR function which is also expensive but valuable. The trustees along with senior staff are working hard to offset the financial loss of previous financial years. We are increasing our higher income sessions and the variation of walk in sessions available. There has been an increase in the number of parties available and increased our fees and prices across the club. We plan to increase the number of daytime and evening recreational sessions over the coming year.
The average monthly number of staff employed by the club were 25 (2022/23: 19).
Reserves Policy
The Trustees have recognised an amount should be retained in unrestricted reserves to continue with the current activities of the charity in the event of a decrease in income. This amount is not committed or invested in tangible fixed assets (‘the free reserves’). Reserves are needed to bridge the gap between the spending and receiving of resources to cover unplanned emergency repair and other expenditure.
The Trustees consider the ideal level of free reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.
However, as of 29 November 2024, the level of free reserves stood at £16,483 (2022/23: £27,081). Our aim over the longer term is to increase the amount held in reserves.
Structure, Governance and Management
Governing document
The organisation is a charitable company limited by guarantee. It was incorporated on the 13[th] June 2011 and registered as a charity on the 1[st] December 2012. The company was formed under a memorandum of association. The memorandum of association sets out the objectives, governance and powers of the charitable company.
Corporate Governance
The Trustees are responsible for the strategy, management and day to day running of the Charity. They formulate the Charity’s strategy and policy framework and oversee the smooth running of the club. The Board of Trustees meets regularly to discuss the charity’s financial performance and strategic planning. Minutes are kept of all meetings. The Board of Trustees makes decisions that affect the strategic direction and approve substantial financial commitments. Each Trustee has one vote, and decisions are made when there is a majority.
There have been no significant changes in policy during the year.
Organisational structure
The Club Manager who as the Club’s senior officer reports to the Board and takes direction and supervision. The Manager is assisted by key staff who also provide coaching.
Wider network
The club is affiliated to Welsh Gymnastics and British Gymnastics and follows the policies of these governing bodies with regards to health and safety, safeguarding, anti-doping, conduct and equality.
Risk management
The trustees have reviewed the major risks the charity might be exposed to. The trustees monitor and respond to risk on a monthly basis or when needed.