2022-08-31-accounts - Pinewood Gymnastics Club Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.


Charity information
Trustees' Annual Report
Statement of directors'	responsibilities	12
Independent Examiner's	Report	14
Funds Statements:-
Statement of Financial Activities		16
Movements in funds		17
Revenue Funds		17
Fixed Asset funds		18
Income and Expenditure	account	19
Summary offunds		18
Balance sheet		20
Cash flow statement		21
Notes to the accounts		22

The charity's financial positio	n at the end oft	he year ended	31August 2022
The financial position ofthe charity	at 31August 2022	and comparatives	for the prior period, as
more fully detailed in the accounts,	can be summarised	as follows:-
		2022	2021
			5
Sist (expenditure)llncome		53,830	(91,805)
Unrestricted Revenue Funds available general purposes ofthe chesty	for the	381,717	331,667
Designated Fixed Asset Funds		339,622	335,842
Total unrestricted Funds		721,339	667,509
Restricted Revenue Funds
TotalFunds		721,339	667,509

		SORP	Current Unrestricted	year Funds	Current year Restricted Funds	Current year Total Funds	Piior Year TolalFunds
			2022		2022	2022	2021
			E		E	E	E
Income 8Endowments	from:
Grants, donations and legacies		A1		3,374		3,374	148,778
Charitable activities		A2	796,188			796,188	359,319
Other trading activities		A3		22,096		22,096	13,894
Investments		A4		1,284		1,284	1,033
Total income			822,942			822,942	523,024
Expenditure on:
Raising funds		61					63
Chaiitable activities		B2	769,112			769,112	614,766
Other		B3
Total expenditure			769,112			769,112	614,829
Net expenditure for the	year			53,830		53,830	t91,805)
Transfers between funds		c
Net income after transfers		A-B-C		53,830		53,830	t91,805)
Net movement in funds				53,830		53,830	t91,805)
Reconciliation offunds:-		E
Total funds brought forward			667,509			667,509	759,314
Total funds carried forward			721,339			721,339	667,509

			2022f	2021 f
(Deficit)/Surplus for the year:
Net excess of(expenditure) over income before tax			53,830	(91,805)
Realised loss on disposal offixed assets
Income from operations before tax in fhe Statement ofFinancial Activities			53,830	(91,805)
Net Movement in funds before taxation			53,830	(91,805)
Funds generated in the year in statement	ofFinancial Activities		53,830	(91,805)
Pinewood Gymnastics Club Limited -	Resources applied	in the year ended 31August		2022
towards fixed assets for Charity use:-
			2022	2021
			f	f
Funds generated in the year as detailed in the SOFA			53,830	(91,805)
Resources applied on functional fixed assets			(68,131)	(1,860)
Net resources available to fund chadtable	activities		(14,301)	(93,665)

				Unrestdicted	Restricted	Total	Last year
				Funds	Funds	Funds	TotslFunds
				2022	2622	2022	2021
				f	f		f
Accumulated	funds brought		forward	331,667		331,667	362,230
Transfer (to)/from		designated	funds	(3,780)		(3,780)	61,242
Recognised	gains	and losses		53,830		53,830	(91,805)
Closing revenue		funds		381,717		381,717	331,667

Designated	Fixed Asset funds		Total	Last year
			Funds	TotalFunds
			2022	2021
At 1 September			335,842	397.084
Transfer (to)/from	revenue accumulated	funds	3,780	(61,242)
At 31August			339,622	335,842


Summary of funds		Unrestdictsd	Restricted	Total	Last Year
		err d	Funds	Funds	Total Funds
		Designated funds
		2022	2022	2022	2021
		5	5	5	5
Revenue accumulated	funds	381,717		381,717	331,667
Revenue designated	funds	339,622		339,622	335,842
Total funds		721,339		721,339	667,509

Companies Act	20	06
								2022	2021
								6
Income
Income from operations								821,658	521,991
Gift aid donations received from			subsidiary		undertaking
Investment income
Interest receivable								1,284	1,033
Gross income in the	year before		exceptional			items		822,942	523,024
Gross income in the	year including			exceptional			items	822,942	523,024
Expenditure
Charitable expenditure,		excluding	depreciation			and	amortisation	703,261	549,594
Depreciation and amorbsation								64,351	63,102
Fundrsising costs									63
Governance costs								1,500	2,070
Total expenditure	in	the year						769,112	614,829
Deficit before tax for the year								53,830	(91,805)
Tax on deficit on ordinary		activities
Net deficit after tax								53,830	(91,805)
Retained deficit for the financial				year
All activities derive	from continuing			operations

Cash Flow Statement for the year ended	Cash Flow Statement for the year ended	Cash Flow Statement for the year ended	31August 2022
				2022	2021
				E
Cash flows from operating	activities
Net cash used in operating activities as shown below			A	178,521	12,923
Cash flows from investing	activities
Interest received				1,284	1,033
Proceeds from sale ofproperty,	plant and equipment
Purchase ofproperty, plant and	equipment			(68,131)	(1,860)
Net cash used in investing	acitivities		8	(66,847)	(827)
Cash flows from financing	activities
Cash inflows from new borrowings
Overall cash used in all activities			A+8+0	111,674	12,096
Cash movements
Change in cash and cash equivalents from activities			in the
year ended 31August 2022				111,674	12,096
Cash and cash equivalents at	1 September 2021			425,332	413,236
Cash at bank and in hand	less overdrafts	at 31 August		537,006	425,332
Reconciliation of net expenditure to net		cash	flow from operating	activities
Net expenditure as shown in the SOFA				53,830	(91,805)
Adjustments for:-
Depreciation charges loss on disposal ofassets				64,351	63,102
Dividends, interest and rents from investments				(1,284)	(1,033)
Increase in stocks				(6,341)	1,837
Increase in debtors				17,236	(352)
Increase in creditors				50,729	41,174
Net cash used by operating	acitivites		A	178,521	12,923
Analysis ofcash and cash	equivalents
				2022	2021
				6	6
Cash and bank in hand at 31st	August			537,006	431,381
Notice deposits - (less than 3months)
Overdrafts facility repayable on	demand				(6,049
Total cash and cash equivalents				537,006	425,332

Net (Defecit) ISurplus before tax in the financial year
	2022	2021
	6	6
Net (Defecit) ISurplus before tax in the financial year is stated afar charging:
Depreciation ofowned fixed assets	64,351	63,102
Pension costs	8,656	8,017

Staff costs and emoluments
Salary costs				2022 f		2021 6
Gross Salaries excluding trustees and key management personnel				537,743		459,894
Employer's National Insurance for ag staff				8,681		6,255
Total salaries, wages and related costs				546,424		466,149
Staffcosts and emoluments (continued)
Numbers olfull time employees orfull time equivalents					2022	2021
The average number of total staff employed in the year was					61	53
The average number of part time staff employed	in the year was				50	44
The average number of full time staff employed	in the year was				11	9
The estimated full time equivalent number ofag	staff employed	in the year was			18	18
The estimated equivalent number offull time	staff deployed	in differeni activities in	the year		was:-
Engaged on charitable activities					15	14
Engaged on management and administration					3	4
The estimated full time equivalent number ofaffstaff employed as above					18	18
Neither the trustees nor any persons connected	with them have	received any remuneration	from	the	charity or any
related entity or been reimbursed any expenses,	either in the current or prior year.
No employees received emoluments (exduding	pension costs)	in excess of860,000per annum.

Deferred income - Unre	str	icted and Designate	d funds
			Opening	Released	Received	Deferred
			Dsferrals	from prior	less released	at year snd
				years	In year
			E	E	E	E
Fees and charges received	in	advance	94,617	(94,617)	130,864	130,864
Total			96,715	94,617)	130,864	130,864
					2022	2021
					6	6
These deferrals are included		in creditors			130,864	94,617

8	Tangible fixed assets	Tangible fixed assets
			Land 6 Buildings	Plant 8 Machinery	Long Leasehold	Total
	Cost
	At 1 September 2021		338,782	343,019	147,285	829,086
	Additions		38,181	29,950		68,131
	Disposals		(7,346)	(707)		(8,053)
	At 31August	2022	369,617	372,262	147,285	889,164
	Depreciation
	At 1 September 2021		100,262	292,868	100,114	493,244
	Charge for the year		25,744	28,643	5,496	59,883
	On dispossls		(2,878)	(707)		(3,585)
	At 31August	2022	123,128	320,804	105,610	549,542
	Net book value
	At 31 August	2022	246,489	51,458	41,675	339,622
	At 31 August	2021	238,520	50,151	47,171	335,842
9	Investments	held as fixed assets
			Investment in subsidiary	Listed Investments	Other Classes of Investment	Total
	Carrying values ofinvestments
	At 1 September 2021		100			100
	At 31August	2022	100			100
	Analysis between fair value and historical cost
	Investments	as above held at fair value	100			100
	The company	holds 20%or more ofthe share capital of	the following companies:
					Capital and	Profit(loss)
	Company		Shares held		reserves	forthe year
			Class		6
	PGC Trading	Limited	Ordinary	100	(941)	2,878

Asummar	y ofthe	unaudited financial statements ofthe subsidiary	is:-
			2022	2021
			E	E
Assets and Funds
Aggregate	amount	ofassets		14,849
Aggregate	amounts	of liabilities	(941)	(18,668)
Aggregate	amount	offunds	941	3,819
Profit and Loss
Turnover	net ofVAT		46,387	10,560
Expenses	net ofVAT		(43,509)	(11,379)
Nef loss	for the year before tax		2,878	(819)
Nef loss	forthe year after fax and gift aid		2,878	(819)

	Amounts owing to and from the subsidiary ar	Amounts owing to and from the subsidiary ar	e shown in the not	es relating to creditors	and deb	tors.
11	Stocks 8 Work in Progress					2022	2021
						E
	Stocks before	write downs				9,553	3,212
						9,553	3,212
12	Debtors
						2022	2021
							E
	Trade debtors					(1,403)	2,419
	Amounts loaned owed by group undertakings		and undertakings	in which the company	has
	a participating	interest				202	16,500
	Prepayments	and accrued income				8,551	7,693
	Other debtors					2,026
						9,376	26,612

13	Creditors: amounts	falling	falling	due within	due within	due within	due within	one year	one year	one year							2022		2021
																	5		5
	Bank loans and overdrafts																		6,049
	Accruals for grants payable
	Trade &Operating Creditors																11,274		7,324
	Accruals																22,147	18,568
	Statutory redundancy	payments
	Deferred Income - Unrestricted			&	designated			funds									130,864	94,617
	Amounts owed to group	undertakings				and	undertakings				in which		the company			has a
	participating interest																		1,274
	PAYS, NIC VAT and other taxes																6,036
	Other creditors																3,997		1,806
																	174,318	129,638
	The amount due to the	group	undertaking				represents			payments			collected		on behalf of the		subsidiary of50	(2021-
	51,341).
14	Pension commitments
																	2022		2021
																	f
	Pension commitments	under		defined contribution						schemes:-
	within one year																10,374		8,000
																	10,374		8,000
15	Financial commitments		under operating						leases								2022		2021
	At the year end the charity		had commitments						under		non-cancellable				operating
	leases as set out below:
																	Annual	Total
																	Commitment	Commitment
																	in next year	remaining
																		over	whole
	Operating leases which	expire:
	within two to five years																6,686		6,666
	in over five years																52,902	52,902
																	59,588	59,588
16	Contractual capital commitments																2022	2021
																	6		6
	At 31stAugust 2020, the charity			had entered				into contractual				commitments			for	internal
	refubishment works and	extension,			which		had	not been			completed			by 31stAugust 2022.
	However, in view of the	COVID		Pandemic,			this		committment			was deferred.			These
	amounts have not been	provided			in the accounts. The					work		was	completed		after 31st
	August 2022 in November 2022			and an amount					off3,415remained					commited		at 31st
	August 2022.																3,415		3,415
																	3,415		3,415

es to the A	ccounts fo	r the year ended 31August 2022
Income and	Expenditure	account summary	2022	2021
			6	6
At 1 September 2021			667,509	759,314
(Loss)/Surplus	after tax for	the year	53,830	(91,805)
At 31August	2022		721,339	667,509

Particulars ofhow particular funds a	Particulars ofhow particular funds a	re represented by assets an	d liabilities
At31August 2022		Unrestricted	Designated	Restricted	Total
		funds	funds	funds	Funds
		f	6	6	6
Tangible	Fixed Assets		339,622		339,622
Investments at valuation:-
Fixed asset investments		100			100
Current	Assets	555,935			555,935
Current	Liabilities	(174,318)			(174,318)
		381,717	339,622		721,339
At 1September 2021		Unrestricted	Designated	Restricted	Total
		funds	funds	funds	Funds
		6	6	f
Tangible	Fixed Assets		335842		335,842
Fixed asset investments		100			100
Current	Assets	461,205			461,205
Current	Liabilities	(129,538)			(129,638)
		331,667	335,842		667,509

							Funds	Movement	Movement	Movement			Funds
							brought forward from	funds		in 2022	Transfers between		carried forward to
							2021				funds	In 2922	2023
								See	Note 21		See Note 0
Unrestricted	and designated				funds:-
Unrestricted	Revenue	Funds					331,667			53,830		(3,780)	381,717
Unrestricted	Revaluation		Reserve
Designated	Fixed Asset		Funds				335,842					3,780	339,622
Total unrestricted and			designated			funds	667,509			53,830			721,339
Restricted funds:-
Government	COVID Grant
Total restricted funds
Total charity funds							667,509			53,830			721,339
Analysis ofmovements				in	funds over the year as shown in Note			20
											Other
							Income	Expenditure			Gains 8		Movement
											Losses		in funds
							2022f		2022f		2022 f		2022 f
Unrestricted	and designated				funds:-
Unrestricted	Revenue	Funds					822,942		(769,112)				53,830
Restricted funds:-
Government	COVID Grant
													53,830

	f119,305.All expenditure the f119,305	was unr	estricted apart	from t	he wages funded	by the JR	S schem	e of
25	Donations and Legacies		Current	year	Current year	Current	year	Prior	Year
			Unrestricted		Restricted Funds	ToislFunds		Total Funds
			Funds
			2022		2622	2622		2021
			6		6	6		2
	Donations snd gifts from individuals
	Small donations individually less than f1000			3,374			3,374		2,473
	Total donations and gifts from individuals			3,374			3,374		2,473
	Revenue grants 8 donations	from public bodies
	UK Government Cov&d Grant							119,305
	COVID Grant from Wckingham Council	Borough							27,000
	Total public sector revenue	grants						146,305
	Revenue grants 8 donations	from non public bodies
	Donation from V&ss
	Total private sector revenue	grants
	Total Donations and Legacies		Af	3,374			3,374	148,778

						Current year	Current	yes r	Current yes r	Prior Year
						Unrestricted	Restricted	Funds	Total Funds	Total Funds
						Funds
						2022	2022		2022	2021
						0	0			0
	Primary purpose and ancillary trading
	Primary purpose trading		- Sale ofgoods
	and services	in accordance		with the		755,161			755,161	344,958
	charity's objects
	Membership	subscriptions				38,621			30,621	13,627
	Recharged income from subsidiary					2,406			2,406	674
	Other trading	activities
	Total Primary purpose trading		and	ancillary		796,188			796,188	359,259
27	Total Income from charitable activities
						Current yssr	Current	yes r	Current year	Prior Year
						Unrestricted	Restricted	Funds	Total Funds	Total Funds
						Funds
						0	0		6	0
						2022	2022		2022	2021
	Total income	from charitable		trading		796,188			796,188	359,259
	Total fmm	charitable	activities		A2	796,188			796,180	359,259

28	Income from other, non charitable,	Income from other, non charitable,	Income from other, non charitable,	Income from other, non charitable,	Income from other, non charitable,	trading activities
						2022	2022	2022		2021
						Current year	Current year	Currentyear		Prior Year
						Unrestricted		Total Funds		Total Funds
						Funds	Restricted Funds
						2022	2022	2022		2021
						E	E	E		E
	Income from fundraising			activities		298			298	803
	Total from other		activities		A3	298			298	803
29	Investment	income
						Current year	Current year	Current	year	Prior Year
						Unrestricted	Restricted Funds	Tctei Funds		Total Funds
						Funds
						2022	2022	2022		2021
						E	E			E
	Bank Interest	Receivable				740			740	396
	Non Bank interest		receivable			544			544	637
	Total investment		income		A4	1,284			1,284	1,033
30	Expenditure	on	charitable activities			- Direct spending
						Currentyeer	Current year	Current	year	Prior Year
						Unrestricted	Restricted Funds	Total Funds		Total Funds
						Funds
						2022	2022	2022		2021
						E	E	E		E
	Gross wages and salaries - charitable activities					362,382		382,382		360,165
	BGmembership		and insurance			2,320			2,320	2,081
	Total direct	spending			B2a 384,702			384,702		362,246

Expendit	ure on	charitabl	e activi	ties -	Charitab	le trad	ing
					Current	year	Current year	Current	year	Prior	Year
					Unrestricted		Restricted Funds	TctsIFunds		Total Funds
					Funds
					2022		2022	2022		2021
					E		E	E		E
Cost ofgoods for trading		primary	purpose			33,664			33,664		3,738
Marketing	and advertising		of primary			455			455		206
purpose	trading
Gym Hire
Total charitable		trading	costs	B2b		34,119			34,119		3,944

Support costs for charitable		activities
			Current	year	Current year	Current	year	Prior	Year
			Unrestricted		Restricted Funds	TuiaIFuuda		Total Funds
			Funds
			2022		2022	2022		2021
			t		0	6		5
Employee costs not included		in direct	cosfs
Salaries - Administrative staff			155,361			155,361			99,729
Statutory redundancy payments
Defined contribution pension	cost-
administrative staff
Employers' Nl - Administrative		staff		8,681			8,681		6,255
Training and welfare - staff				8,314			8,314		612
Staff Clothing				3,448			3,448
Christmas Party				1,417			1,417
DBScosts				548			548		715
Premises Expenses
Rent payable under operating		leases		8,941			8,941		8,086
Rates and water charges				1,451			1,451		637
Light heat and power				16,422			16,422		11,280
Cleaning and waste management				20,005			20,005		17,343
Premises repairs, renewals and				13,359			13,359
Property insurance				6,174			6,174		4,948
Administrative overheads
Telephone, fax and internet				2,338			2,338		2,293
Postage									17
Stationery and printing				6,972			6,972		6,878
Software licences and expenses				1,719			1,719		668
Health and safety costs				925			925		778
Sundry expenses				1,652			1,652		678
Equipment, repairs, expenses	and			5,167			5,167		6,533
I icences & Permits
Professional fees paid to advisors other than				the auditor or examiner
Accountancy fees other than examination or audit fees				4,884			4,884		3,971
HR Mentor Services				8,008			8,008		4,608
Financial costs
Bank charges				8,237			8,237		7,375
Bad and doubfful debts
Depreciation &Amortisation	in	total for		64,351			64,351		63,102
Supportcosts			348,791			348,791		246,506
Total support costs			348,791			348,791		246,506

					Current year	Current year	Current year	Prior Year
					Unrestricted	Restricted Funds	Total Funds	Total Funds
					Funds
					2022	2022	2022	2021
					E	E	E	E
	Independent Examiner's fees				1,500		1,500	2,070
	Total Governance		costs		1,500		1,500	2,070
35	Total Charitable		expenditure
					Current year	Current year	Current year	Prior Year
					Unrestricted	Restricted Funds	Total Funds	TotalFunds
					Funds
					2022	2022	2022	2021
					E	E	E	E
	Total direct spending			82a	384,702		384,702	362,246
	Total charitable	trading costs		82b	34,119		34,119	3,944
	Total grantmaking		costs	82c
	Total support costs			82CI	348,791		348,791	246,506
	Total Governance		costs	82e	1,500		1,500	2,070
	Total charitable	expenditure		82	769,112		769,112	614,766

				Current year	Current year	Current year	Prior Year
				Unrestricted	Restricted Funds	Total Funds	Total Funds
				Fulltls
				2022	2022	2e22	2021
				E	E	E	E
Cost	offundraising	activities	&events
Costs	recharged	to Trading	Subsidiary
Total	fundraising	costs	81					63

				SOFA ref	2022	2021
					f
Activity
Income from charitable	activities
Primary purpose and ancillary		trading			796,188	359,319
Income from other, non	charitable,		trading activities
Fundraising activities					22,096	13,894
Summary ofTotal Income,		including		the items above
Charitable activities				A2	796,188	359,319
Other activities				A3	22,096	13,894
Grants, donations and legacies				A1	3,374	148,778
Investment income				A4	1,284	1,033
Total income as shown	in the SOFA				822,942	523,024

	Activity	Activity	Activity				Direct costs	Support	Grant
								COSta	funding of	Total	Total
									activities
							2022	2022	2022	2022	2021
							f	f	f	f	f
Primary purpose		and	ancillary trading
Direct costs							384,702			384,702	362,246
Charitable trading		costs					34,119			34,119	3,944
Employee costs not included					in direct
costs								178,186		178,186	107,311
Premises expenses								66,352		66,352	42,294
Administrative	overheads							18,773		18,773	17,845
Professional fees								12,892		12,892	8,579
Financial costs								72,588		72,588	70,477
Total Primary trading	purpose			and	ancillary		418,821	348,791		767,612	612,696
							Direct costs	Support	Grant
								COStS	funding of	Total	Total
									activities
							2022	2022	2022	2022	2021
							f	f			f
Other charitable		activities
Losses on dispossls offixed					assets
Summary ofcharitable				costs by activity
							Direct costs	Support	Grant
								costs	funding of	Total	Total
									activities
							2022	2022	2022	2022	2021
							f			f	f
Total Primary purpose			and ancillary
trading							418,821	348,791		767,612	612,696
Total Other charitable activities
Total Governance		costs		as detailed		in
Note 34								1,500		1,500	2,070
Total charitable		expenditure					418,821	350,291		769,112	614,766

Analysis ofsupport and governance	Analysis ofsupport and governance	Analysis ofsupport and governance	Analysis ofsupport and governance	costs by charitable activities	costs by charitable activities	costs by charitable activities
				Governance	Finance	Human	Other	Total
Acrlvlty						Resources	Overheads
Pnmary	purpose	and ancillary	trading	1,500	72,588	178,186	98,017	350,291
Summary ofgrant making			by activity
				Grants to institutions	Grants to individuals	Support costs	Total	Total
				2022	2022f	2022 f	2022 f.	2021
Pnmary	purpose	and ancillary	trading

39	Analysis ofnon charitable exp	end	iture by	activity
	Activity
	Fundraising activities and recharges		ro subsidiary			Fundrelelng activities	Fundreielng ecdvalee
						2022	2021
						E
	Direct fundraising costs and recharges to subsidiary						63
	Total non charitable expenditure					2022f	2021f
	Total costs of Fundraising activities	and	recharges	to subsidiary			63
	Total non charitable expenditure						63
4O	Total expenditure by activity					2022 f	2021 f
	Total charitable expenditure					769,112	614,766
	Total ofGrant making
	Total non charitable expenditure	- Fundraising		and recharges	to subsidiary
						769,112	614,829