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 2023.
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
This year has been a really positive year for the club, membership is getting back to pre Covid levels. Our coaches are continually working hard to deliver fun and exciting classes to all our members.
This year we have had a number of our older gymnasts starting their coaching journey and completing their first level of coaching qualification, which is great for the clubs long term future as these will be the coaches of the future! Its great that our older gymnasts are so passionate about the sport and are looking to pass on their years of knowledge to the next generation of gymnasts. A number of our coaches have started to take their level 3 qualifications, to further their coaching knowledge.
We have hosted a number of club competitions and invited a few other local clubs to join us in these this year. Our gymnasts alway love these competitions as it is a great way of them showing their families and friend what they have learned in the gym.
We continued to compete in the South West and Nationally for tumbling. this year we had 2 different gymnasts qualify and be selected to take part in the English Tumbling Championships. This was the first time for both of these gymnasts to be selected for the event. They did amazingly well, representing the club and the South west with one of them going the silver medal at the Championships. We are absolute thrilled to have another English Tumbling medalist in the club and so proud of both gymnasts. These two gymnasts were also both actually two of our senior gymnasts who are now qualified coaches and are passing on their knowledge and experience to our younger members.
We continue to have students come to us for their work experience in Year 10 during the summer term, we always love to have them in the gym and they all love having the opportunity to do this and we love to be able to pass on our passion for what we do to these students from local secondary schools.
Overall we are pleased with our membership growth this year and hopefully over the next few years we will see it continue to grow and the club will flourish in the future.
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 28th March 2024
Registered number: 7792910
PHOENIX GYMNASTICS LTD DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
TT Accountancy Glenholm Kehelland Camborne Cornwall TR140DD
Phoenix Gymnastics Ltd Directors' Report and Unaudited Financial Statements For The Year Ended 30 September 2023
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Profit and Loss Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5—6 |
| The following pages do not form part of the statutory accounts: | |
| Trading Profit and Loss Account | 7 |
Phoenix Gymnastics Ltd Company Information For The Year Ended 30 September 2023
| 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 2023
The directors present their report and the financial statements for the year ended 30 September 2023.
Directors
The directors who held office during the year were as follows:
- Mr Steven Wilson
Mr Adam Steppens
Mr Raymond Stevens
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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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
28/03/2024
Page 2
Phoenix Gymnastics Ltd Profit and Loss Account For The Year Ended 30 September 2023
| Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses OPERATING PROFIT AND PROFIT BEFORE TAXATION Tax on Profit PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
2023 £ 294,191 (21,834) 272,357 (232,609) 39,748 (5,135) 34,613 |
2022 £ 280,482 (20,696) |
|---|---|---|
| 259,786 (224,347) |
||
| 35,439 (3,282) |
||
| 32,157 |
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Phoenix Gymnastics Ltd Balance Sheet As At 30 September 2023
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Stocks 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILITIES) Profit and Loss Account SHAREHOLDERS' FUNDS |
2023 £ £ 71,526 71,526 2,500 16,584 19,084 (72,552) (53,468) 18,058 18,058 18,058 18,058 |
2023 £ £ 71,526 71,526 2,500 16,584 19,084 (72,552) (53,468) 18,058 18,058 18,058 18,058 |
2022 £ £ 78,022 78,022 2,500 26,003 28,503 (123,080) (94,577) (16,555) (16,555) (16,555) (16,555) |
2022 £ £ 78,022 78,022 2,500 26,003 28,503 (123,080) (94,577) (16,555) (16,555) (16,555) (16,555) |
|---|---|---|---|---|
| 71,526 (53,468) |
78,022 (94,577) |
|||
| 19,084 (72,552) |
28,503 (123,080) |
|||
| 18,058 | (16,555) | |||
| 18,058 | (16,555) | |||
| 18,058 | (16,555) | |||
| 18,058 | (16,555) |
For the year ending 30 September 2023 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
28/03/2024
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Phoenix Gymnastics Ltd Notes to the Financial Statements For The Year Ended 30 September 2023
1. 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.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. 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
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 5
Phoenix Gymnastics Ltd Notes to the Financial Statements (continued) For The Year Ended 30 September 2023
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 11)
4. Tangible Assets
| Cost As at 1 October 2022 As at 30 September 2023 Depreciation As at 1 October 2022 Provided during the period As at 30 September 2023 Net Book Value As at 30 September 2023 As at 1 October 2022 5. Stocks Stock 6. Creditors: Amounts Falling Due Within One Year Trade creditors Other creditors Directors' loan accounts Directors Loan Account - Adam |
Land & Property Freehold £ 34,712 |
Land & Property Freehold £ 34,712 |
Plant & Machinery £ 82,967 |
Total £ 117,679 |
|---|---|---|---|---|
| 34,712 | 82,967 | 117,679 | ||
| - - |
39,657 6,496 |
39,657 6,496 |
||
| - | 46,153 | 46,153 | ||
| 34,712 | 36,814 | 71,526 | ||
| 34,712 | 43,310 | 78,022 | ||
| 2023 £ 2,500 2023 £ - 36,856 21,014 14,682 72,552 |
2022 £ 2,500 |
|||
| 2022 £ 1 81,462 28,406 13,211 |
||||
| 123,080 |
Page 6
Phoenix Gymnastics Ltd Trading Profit and Loss Account For The Year Ended 30 September 2023
| TURNOVER Sales Grants and subsidies received COST OF SALES Purchases GROSS PROFIT Administrative Expenses Wages and salaries Rent Property management and service charges Light Heat & Telephone Cleaning Repairs, renewals and maintenance Insurance Stationery Advertising and marketing costs Accountancy fees Subscriptions Depreciation of plant and machinery Sundry expenses OPERATING PROFIT PROFIT BEFORE TAXATION Tax on Profit Corporation tax charge PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
2023 £ £ 294,191 - 294,191 21,834 (21,834) 272,357 116,855 86,637 10,442 5,300 520 838 1,362 1,206 1,478 670 804 6,496 1 (232,609) 39,748 39,748 5,135 (5,135) 34,613 |
2023 £ £ 294,191 - 294,191 21,834 (21,834) 272,357 116,855 86,637 10,442 5,300 520 838 1,362 1,206 1,478 670 804 6,496 1 (232,609) 39,748 39,748 5,135 (5,135) 34,613 |
2022 £ £ 258,999 21,483 280,482 20,696 (20,696) 259,786 115,464 81,598 1,303 9,821 421 4,456 883 1,419 93 650 596 7,642 1 (224,347) 35,439 35,439 3,282 (3,282) 32,157 |
2022 £ £ 258,999 21,483 280,482 20,696 (20,696) 259,786 115,464 81,598 1,303 9,821 421 4,456 883 1,419 93 650 596 7,642 1 (224,347) 35,439 35,439 3,282 (3,282) 32,157 |
|---|---|---|---|---|
| 294,191 (21,834) |
280,482 (20,696) |
|||
| 116,855 86,637 10,442 5,300 520 838 1,362 1,206 1,478 670 804 6,496 1 |
115,464 81,598 1,303 9,821 421 4,456 883 1,419 93 650 596 7,642 1 |
|||
| 272,357 (232,609) |
259,786 (224,347) |
|||
| 5,135 | 3,282 | |||
| 39,748 39,748 |
35,439 35,439 |
|||
| (5,135) | (3,282) | |||
| 34,613 | 32,157 |
Page 7
CHARITY COMMISSION FOR ENGLAND ANO WALE5 Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the truste members of On accounts for the year endod Charity no (if any) Set out on pages P/73J3 ', memb•r lo incJu(IF.. I I report to the trustees on my exarnination of the accounts of the atrJ)ve charity ("t Trust-) for the year end g As the charty's trustees, you are responsit4e for the preparation of the accounts in &cordance with the requirements of the Charities Act 2011 {'the Act.). Responsibilltles and ba$ls of report o? A¢/3 I report in respect of my examination of th8 Trust's accounts carri8d out under section 145 of the 2011 Act and in carryiTrJ out my exarninalion, I have foilowe(J all the applicable DirecticS given by tha Charty Commlssion under seclron 145(5){b} of th8 Act. Independent IThe charity's gross income exceeded £250.{1 and l am qualrfied to axamlnevs statement urmjertake the examinati( by t*irg a qLrIfied member of [insert nam8 of applicable listed brjj. Del8te l J rf not apPIable. I have com eted my examlnation. I conflmj that no material matters have come to my attentron in connection with the examination (other than that drsclosed below ') which gives me cause to believe that in. any material respect: the accounting rec were Tr)t kept in ac¢CanCe with section 130 of the Charits'es Act: or the accounts did rK>t acccKd wrth the accounting OrdS., or the accounts did not comply with the applicable requirements conceming frxm and content of accounts Set out in the Charitios (Accounts and Rerths) Regulations 2008 other than any requirement Ihat accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examinati(. I have no concems and have come acro&£ no other matters in connection with the examination to which attention shoukl be drawn in this report in order to enable a urSlanding of the accounts to be reached. . Pl&as& delatg WdS in the brackels rfthgy do not awy. Date: Signed: Name: Relevant professlonal qualificationlsl or body IER Oct 2018