Unit B5-B7 Formal Business Park, Treswithian, Camborne, Cornwall, TR14 0PY 01209 715786 07525 490040 info@phoenixgymnastics.club www.phoenixgymnastics.club
Annual Report - Phoenix Gymnastics Registered Charity Number - 1147333
The trustees present their report and accounts for the year ended 30 September 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 governing document, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
The is a company limited by guarantee, registered charity number 1147333. The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Trustees - Mr Steven Wilson Mr Adam Steppens Mr Raymond Stevens
The trustees have assessed the major risks to which the is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Objectives and activities
Getting back on our feet after Covid has been difficult, but we slowly feel that we are getting there. Membership numbers are increasing again and we put this down to the hard work of all of our coaches. Who make our classes fun and exciting for all our members each and every day.
We are starting to see the return of some external bookings from schools again now that Covid is more under control.
This year we have had a number of coaches complete their Level 1 Coaching qualification with British Gymnastics, which is great as it is their first step along the coaching pathway with British Gymnastics. Having successfully completed this some of them are now looking towards doing the next level of coaching course in the future, to both further their knowledge and qualifications. It is great to see them sharing the knowledge and activities that they gained from their courses with others in the club, both gymnasts and other coaches. Which helps in keeping all our coaches knowledge current and unto date with new ideas and techniques.
Much to the delight of our members, and they coaches and parents, we are starting to be able to return to competitions this year. We have hosted a number of club competitions and invited a few other local clubs to join us in these. We have also returned to competition within the South West and Nationally, and as a club were absolutely thrilled when two of our members qualified and were selected to represent the South West in the English Tumbling Competition. As you can imagine this is a huge
achievement for the gymnasts and the club and then for one of then to become the English Champion in her level and age group, we were blown away, and so immensely proud of her achievement. This is a tribute to her attitude to training and persistence throughout all the lockdowns and everything that has gone on over the last few years, and of course to her coaches, who continue to work hard with all the gymnasts, challenging them everyday in their training and inspiring them to push themselves to achieve their goals.
Now that things are returning to a more “normal” state, we are pleased to say that we continue to have students back with us on their work experience, during the summer term, we always love to have them in the gym and pass on our passion for what we do.
Overall we are pleased with our membership growth this year and are pleased to see it starting to return to pre Covid levels and hopefully surpass this in future years. We are looking forward to the next year, seeing the club will grow and evolve. Going from strength to strength.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.
This report was written by Adam Steppens on 19th April 2023
Registered number: 7792910
PHOENIX GYMNASTICS LTD DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
TT Accountancy
Glenholm Kehelland Camborne Cornwall TR140DD
Phoenix Gymnastics Ltd Page 1 Directors' Report and Unaudited Financial Statements For The Year Ended 30 September 2021
| Contents | |
|---|---|
| Page | |
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—8 |
| The following pages do not form part of the statutory accounts: | |
| Trading Profit and Loss Account | 9 |
Phoenix Gymnastics Ltd Company Information For The Year Ended 30 September 2021
| Directors | Mr Steven Wilson |
|---|---|
| Mr Adam Steppens | |
| Mr Raymond Stevens | |
| Company Number | 7792910 |
| Registered Office | 34 New Road |
| Troon | |
| Camborne | |
| Cornwall | |
| TR14 9ES | |
| Accountants | TT Accountancy |
| Glenholm | |
| Kehelland | |
| Camborne | |
| Cornwall | |
| TR140DD |
Page 1
Phoenix Gymnastics Ltd Company No. 7792910 Directors' Report For The Year Ended 30 September 2021
The directors present their report and the financial statements for the year ended 30 September 2021.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows: Mr Steven Wilson Mr Adam Steppens Mr Raymond Stevens
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Steven Wilson Director
15/04/2022
Page 2
Phoenix Gymnastics Ltd Accountant's Report For The Year Ended 30 September 2021
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 September 2021 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
15/04/2022
TT Accountancy Glenholm Kehelland Camborne Cornwall TR140DD
Page 3
Phoenix Gymnastics Ltd Profit and Loss Account For The Year Ended 30 September 2021
| Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR |
2021 £ 221,885 (14,866) 207,019 (185,754) 21,265 |
2020 £ 163,987 (10,101) |
|---|---|---|
| 153,886 (153,182) |
||
| 704 |
The notes on pages 7 to 8 form part of these financial statements.
Page 4
Phoenix Gymnastics Ltd Balance Sheet As at 30 September 2021
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Stocks 4 Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 7 NET LIABILITIES Profit and Loss Account SHAREHOLDERS' FUNDS |
2021 £ £ 85,664 85,664 2,500 - 54,490 56,990 (191,366) (134,376) (48,712) - (48,712) (48,712) (48,712) |
2021 £ £ 85,664 85,664 2,500 - 54,490 56,990 (191,366) (134,376) (48,712) - (48,712) (48,712) (48,712) |
2020 £ £ 94,656 94,656 2,500 1,710 63,753 67,963 (182,596) (114,633) (19,977) (50,000) (69,977) (69,977) (69,977) |
2020 £ £ 94,656 94,656 2,500 1,710 63,753 67,963 (182,596) (114,633) (19,977) (50,000) (69,977) (69,977) (69,977) |
|---|---|---|---|---|
| 85,664 (134,376) |
94,656 (114,633) |
|||
| 56,990 (191,366) |
67,963 (182,596) |
|||
| (48,712) | (19,977) | |||
| - | (50,000) | |||
| (48,712) | (69,977) | |||
| (48,712) | (69,977) | |||
| (48,712) | (69,977) |
Page 5
Phoenix Gymnastics Ltd Balance Sheet (continued) As at 30 September 2021
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Steven Wilson
Director
15/04/2022
The notes on pages 7 to 8 form part of these financial statements.
Page 6
Phoenix Gymnastics Ltd Notes to the Financial Statements For The Year Ended 30 September 2021
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold | 0 |
|---|---|
| Plant & Machinery | 15 |
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 10 (2020: 11)
3. Tangible Assets
| Cost As at 1 October 2020 As at 30 September 2021 Depreciation As at 1 October 2020 Provided during the period As at 30 September 2021 Net Book Value As at 30 September 2021 As at 1 October 2020 |
Land & Property Freehold £ 34,712 |
Plant & Machinery £ 82,967 |
Total £ 117,679 |
|---|---|---|---|
| 34,712 | 82,967 | 117,679 | |
| - - |
23,023 8,992 |
23,023 8,992 |
|
| - | 32,015 | 32,015 | |
| 34,712 | 50,952 | 85,664 | |
| 34,712 | 59,944 | 94,656 |
Page 7
Phoenix Gymnastics Ltd Notes to the Financial Statements (continued) For The Year Ended 30 September 2021
- Stocks
| Stock - materials and work in progress 5. Debtors Due within one year Trade debtors 6. Creditors: Amounts Falling Due Within One Year Other creditors Directors' loan accounts Directors Loan Account - Adam 7. Creditors: Amounts Falling Due After More Than One Year Bank loans |
2021 £ 2,500 2,500 2021 £ - - 2021 £ 108,949 55,606 26,811 191,366 2021 £ - - |
2020 £ 2,500 |
|---|---|---|
| 2,500 | ||
| 2020 £ 1,710 |
||
| 1,710 | ||
| 2020 £ 78,929 70,106 33,561 |
||
| 182,596 | ||
| 2020 £ 50,000 |
||
| 50,000 |
8. General Information
Phoenix Gymnastics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7792910. The registered office is 34 New Road, Troon, Camborne, Cornwall, TR14 9ES.
Page 8
Phoenix Gymnastics Ltd Trading Profit and Loss Account For The Year Ended 30 September 2021
| TURNOVER Sales Grants and subsidies received COST OF SALES Purchases GROSS PROFIT Administrative Expenses Wages and salaries Rent Property management and service charges Light and heat Cleaning Repairs, renewals and maintenance Insurance Stationery Advertising and marketing costs Accountancy fees Subscriptions Depreciation of plant and machinery Sundry expenses OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR |
2021 £ £ 157,671 64,214 221,885 14,866 (14,866) 207,019 60,983 107,054 397 4,004 465 1,541 842 305 130 - 624 8,992 417 (185,754) 21,265 |
2021 £ £ 157,671 64,214 221,885 14,866 (14,866) 207,019 60,983 107,054 397 4,004 465 1,541 842 305 130 - 624 8,992 417 (185,754) 21,265 |
2020 £ £ 163,987 - 163,987 10,101 (10,101) 153,886 73,310 49,351 1,027 10,340 532 3,751 976 379 120 2,053 406 10,578 359 (153,182) 704 |
2020 £ £ 163,987 - 163,987 10,101 (10,101) 153,886 73,310 49,351 1,027 10,340 532 3,751 976 379 120 2,053 406 10,578 359 (153,182) 704 |
|---|---|---|---|---|
| 221,885 (14,866) |
163,987 (10,101) |
|||
| 60,983 107,054 397 4,004 465 1,541 842 305 130 - 624 8,992 417 |
73,310 49,351 1,027 10,340 532 3,751 976 379 120 2,053 406 10,578 359 |
|||
| 207,019 (185,754) |
153,886 (153,182) |
|||
| 21,265 | 704 |
Page 9
(HARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of 6-rMwh rl6/ On accounts for the year ended Charlty no (If any) 30-q_Il 1/7 Set out on pages I rewrt to the trustees on my examination of the accounts of the above charity (Ihe Trusf) for the year ended 30 01 '2.1 As the chartty's trustees. you are respongble for the preparati of the accounts in accordance with the requirements of the Charities Act 2011 (ihe Acr). Responslbllltles and basis of report I report in respect of my examination of the Trust's &ctsJnts carried ¢)ut under seCt)n 145 of the 2011 Act and in carrying out my examination, I have folk)wed all the appliCae Diractions given by the Charity Commission under Secti 145(5){bl of the Act. Independent he chaiity's gro&s income exceeded £250.(NJ) 8rKI l am qualrfied to examinerfs slatement undertake the examination by being 8 qualif member of linsert name of applicable listed bodyll. Delete I l rf not applic8bl8. I have completed my examinath)n. I confim that malerial matters have c¢)me to my attention in conne¢tBJn with the examination (other than that disclosed below '} which gives me Cause lo believe that in, any material respecl.. the accounliThJ records wer8 not kept in accordance with section 130 of the Charities Act; or the accounts did nol accord with the accounting rec¢yds: or the accounts did nol Comp with the applicable requirements conceming the fom arKI conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considergj as part of an independent examination. I have no concems and have come across no oth8r matters in conneclion wrth the examinatK)n lo which attention should be drawn in this report in der to enabk a Fer understanding of the accounts to be reached. . Please delete words in the brackets rf they do not 8ppty. Slgned: Date: li 13 Name: 5T<f oj Rolevant PTofèssional quallfl¢ation(s) or body IER Oct 2018