2022-08-31-accounts - York City Gymnastics Foundation

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

YORK CITY GYMNASTICS FOUNDATION

REPORT AND FINANCIAL STATEMENTS PERIOD ENDED 31ST AUGUST 2022

Charity Commission Reference Number 1152515

Lawrence House James Nicolson Link Clifton Moor York YO30 4WG

YORK CITY GYMNASTICS FOUNDATION REPORT AND FINANCIAL STATEMENTS

Contents	Page
Legal and Administrative Information	1.
Statement of Trustees' Responsibilities	2.
Report of the Trustees	3 - 4.
Independent Examiner's Report	5.
Statement of Financial Activities	6.
Balance Sheet	7.
Notes to the Financial Statements	8 - 14.

YORK CITY GYMNASTICS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Chairman :	Chairman :	Chairman :	Chairman :	Chairman :			Mark Wild
Treasurer :							Mark Wild
Trustees :							Mark Wild
							Richard Edwards
							Neil Swain
Independent Examiner :							Walter Dawson & Son
							Lawrence House
							James Nicolson Link
							Clifton Moor
							York YO30 4WG
Bankers :							Lloyds Bank
							2 Pavement
							York
							YO1 9UP
Registered Office :							St John's Walk
							Heworth
							York
							North Yorkshire
							YO31 7SX

YORK CITY GYMNASTICS FOUNDATION

STATEMENT OF TRUSTEE'S RESPONSIBILITIES

The charity trustees are responsible for preparing a trustees' report and financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

(a) select suitable accounting policies and then apply them consistently;
(b) observe the methods and principles in the Charities SORP;
(c) make judgements and estimates that are reasonable and prudent;
(d) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
(e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

YORK CITY GYMNASTICS FOUNDATION

REPORT OF THE TRUSTEES

FOR THE PERIOD ENDED 31ST AUGUST 2022

The trustees present their annual report and the financial statements of the charity for the 12 month period ended 31st August 2022.

The financial statements have been prepared in accordance with the charity's accounting policies and the charity's trust deed, the Charities Act 2011 and 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).

1. Structure, Governance and Management

The trustees are responsible for setting the objectives and priorities for York City Gymnastics Foundation, the day to day running is overseen by the trustees. The trustees are elected as required by current trustees.

2. Objectives and Activities

To provide facilities for recreation and other leisure-time occupations (in particular laying out, managing, equipping and maintaining facilities for gymnastics) in the interests of social welfare with the aim of improving the conditions of life for the inhabitants of York and it's environs and North Yorkshire. The area of benefit is to advance education (including physical education) through the provision of gymnastics and gymnastics related activities. We aim to relieve those in need in particular those caring for people with mental and/or physical disabilities by providing facilities which enable them to participate in gymnastic related activities.

When planning the activities for the year, the trustees have considered the Commission's guidance on public benefit.

3. Achievements and Performance

Like many charities the foundation has been affected by the Pandemic which resulted in the gymnasium being closed down during nationwide lockdowns. We are please to report that the organisation has successfully navigated these difficult times and is now seeing demand return to prepandemic levels. This has seen our finances recover, though challenges still remain in light of the cost of living crisis that is affecting many of our beneficiaries.

YORK CITY GYMNASTICS FOUNDATION REPORT OF THE TRUSTEES

FOR THE PERIOD ENDED 31ST AUGUST 2022

4. Reserves Policy

York City Gymnastics Foundation has operated just one unrestricted reserve over the past years. This policy is reviewed on a regular basis and the need for specific reserves is considered by the trustees annually.

This report was approved and authorised for issue by the trustees on 20th June 2023 and signed on their behalf by:

Mark Wild

Chairman

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF YORK CITY GYMNASTICS FOUNDATION

I report to the trustees on my examination of the financial statements of the charity for the year ended 31st August 2022 which are set out on pages 6 to 14.

Responsibilities and Basis of Report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: (a) accounting records were not kept in respect of the charity required by Section 130 of the Act; or

(b) the financial statements do not accord with those records; or

(c) the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Julie Young FCCA ACA WALTER DAWSON & SON

Chartered Accountants

Lawrence House James Nicolson Link Clifton Moor York YO30 4WG

20th June 2023

YORK CITY GYMNASTICS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022

----- Start of picture text -----
Unrestricted Restricted Total
Notes
Funds Funds 2022 2021
£ £ £ £
INCOME AND ENDOWMENTS
FROM:
Donations and Legacies 4 2,975 - 2,975 107,918
Other Trading Activities 5 384,710 - 384,710 171,986
TOTAL INCOME AND
ENDOWMENTS 387,685 - 387,685 279,904
EXPENDITURE ON:
Other Costs 6 327,877 - 327,877 245,421
TOTAL EXPENDITURE 327,877 - 327,877 245,421
NET INCOME 8 59,808 59,808 34,483
Transfers Between Funds - - - -
NET INCOME BEFORE OTHER
RECOGNISED GAINS/(LOSSES) 59,808 - 59,808 34,483
NET MOVEMENTS IN FUNDS 59,808 - 59,808 34,483
RECONCILIATION OF FUNDS
-
Total Funds at 1st September 2021 968,869 968,869 934,386
-
Total Funds at 31st August 2022 1,028,677 1,028,677 968,869
----- End of picture text -----

All incoming resources and resources expended derive from continuing activities.

YORK CITY GYMNASTICS FOUNDATION BALANCE SHEET AS AT 31ST AUGUST 2022

CURRENT ASSETS CREDITORS: Amounts Falling Due Within One Year FIXED ASSETS Tangible Assets Cash at Bank and in Hand NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS :Amounts Falling Due After More Than One Year The Funds of the Charity: RESTRICTED INCOME FUNDS UNRESTRICTED FUNDS General Funds Designated Funds	Notes	£ £ 922,976 150,595 150,595 13,264 137,331 1,060,307 ( 31,630) 1,028,677 - 1,028,677 - 1,028,677 1,028,677 2022	£ £ 913,844 108,936 108,936 11,411 97,525 1,011,369 ( 42,500) 968,869 - 968,869 - 968,869 968,869 2021
	9 10 11 14 14 14

The financial statements were approved and authorised for issue by the Trustees on 20th June 2023 and signed on their behalf by:

Mark Wild (Chair of the Trustees)

1. STATUTORY INFORMATION

York City Gymnastics Foundation is a charity domiciled in England and Wales, registration number 1152515. The principal place of business is St John's Walk, Heworth, York, North Yorkshire, YO31 7SX.

2. COMPLIANCE WITH ACCOUNTING STANDARDS

The financial statements have been prepared in accordance with 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) and the Charities Act 2011.

3. ACCOUNTING POLICIES

The financial statements have been prepared under the historical cost convention. The presentation currency is sterling. The particular accounting policies adopted are as follows:

(a) Donations, Legacies and Similar Incoming Resources

Donations, legacies and similar incoming resources are included in the year in which they are receivable, which is when the charity becomes entitled to the resource.

(b) Grants Receivable and Local Authority Fees

Grants receivable and local authority fees are credited to the Statement of Financial Activities (SOFA) in the year for which they are received. Deferred income represents amounts received for future periods and is released to income resources in the period for which it has been received.

(c) Investment Income and Rental Income

Income from investments and from rental income is included in the SOFA in the year in which it is receivable.

(d) Expenditure

All expenditure is included on an annual basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the SOFA. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

3. ACCOUNTING POLICIES (continued)

(e) Tangible Fixed Assets

Depreciation is provided on a straight line or reducing balance basis over the expected useful lives of each category of tangible fixed assets:

Plant and Equipment 10% per annum on written down value Computer Equipment 25% per annum on written down value

The gymnasium is included in the accounts at fair value and is not depreciated.

(f) Stock

Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

(g) Pension Costs

The charity operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are recognised in the SOFA when due.

(h) Leasing

Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future charges, are included in creditors.

Rentals payable under operating leases are charged to the SOFA on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the SOFA over the lease period on a straight line basis.

(i) Fund Accounting

Funds held by the charity are either:

. Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
. Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

(j) Finance Cost Of Debt

The finance cost of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the income and expenditure account at a constant rate on the outstanding amount.

4. 5.	Apprenticeship Grant Interest Income Income from Solar Panels Gymnasium Hire Council Grants DONATIONS AND LEGACIES Donations Covid Job Retention Grants Badge Sales etc. OTHER TRADING ACTIVITIES Club Fees Shop/café Takings Refunds of Class Fees	Unrestricted Funds £ 971 - - 2,000 4 2,975 Unrestricted Funds £ 375,879 2,048 9,172 1,451 2,242 ( 6,082) 384,710	Restricted Funds £ - - - - - - Restricted Funds £ - - - - - - -	Total 2022 £ 971 - - 2,000 4 2,975 Total 2022 £ 375,879 2,048 9,172 1,451 2,242 ( 6,082) 384,710	Total 2021 £ 36,698 32,006 39,214 - - 107,918 Total 2021 £ 168,661 - 1,910 1,415 - ( 5,342) 166,644

6. OTHER COSTS

Competition Entries Wages and Pension Premiums Rates and Waste disposal Insurances Light and Heat Water Repairs and Renewals Telephone and Internet Etc. Printing, Stationery and advertising Equipment Rental Cleaning Team Clothing Sundries Accountancy and Book-keeping Legal and professional fees Bank and Card Charges Smart Pension Charges Loss on Disposal of Fixed Assets Depreciation Purchases Coaching Expenses and Course Fees	Unrestricted Funds £ 1,240 7,704 14,855 187,520 3,373 19,188 14,644 2,538 14,030 4,376 3,182 - 19,563 1,248 1,609 2,041 3,697 6,693 144 410 19,822 327,877	Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - -	Total 2022 £ 1,240 7,704 14,855 187,520 3,373 19,188 14,644 2,538 14,030 4,376 3,182 - 19,563 1,248 1,609 2,041 3,697 6,693 144 410 19,822 327,877	Total 2021 £ 647 - 8,000 133,520 724 19,928 9,761 - 12,135 4,099 1,841 633 9,858 576 1,344 3,696 9,500 3,556 - 1,470 18,791 240,079

7. STAFF COSTS AND TRUSTEES' REMUNERATION

Wages and Salaries Social Security Costs Other Pension Costs	2022 £ 186,324 - 1,196 187,520	2021 £ 132,259 504 757 133,520

No employee received remuneration amounting to more than £60,000 in either year.

Trustees received no remuneration and were not reimbursed for any of their expenses in either year.

The average weekly number of employees during the year was as follows:-

Average number of Full-time employees Average number of Part-time employees	2022 13 11 24	2021 7 7 14

8. NET INCOME/(EXPENDITURE) FOR THE YEAR

Loss on disposal of motor vehicle This is stated after charging: Depreciation Accountant's and Bookkeeping Fees	2022 £ 19,822 410 2,041	2021 £ 18,791 1,470 3,696

9. TANGIBLE FIXED ASSETS

Depreciation : Charge for Year Depreciation on Disposals Written down value: At 1st September 2021 Additions Disposals Net Book Value : At 31st August 2022 At 31st August 2021	Gymnasium £ 744,925 - - 744,925 - - - 744,925 744,925	Computer Equipment £ - 530 - 530 132 - 132 398 -	Equipment £ 168,919 34,184 ( 6,210) 196,893 19,689 ( 450) 19,239 177,653 168,919	Total £ 913,844 34,714 ( 6,210) 942,348 19,821 ( 450) 19,371 922,976 913,844

10. CREDITORS: Amounts Falling Due Within One Year

Bank Loan Other Taxes and Social Security Accruals and Deferred Income	2022 £ 10,000 ( 40) 3,304 13,264	2021 £ 7,500 599 3,312 11,411

11. CREDITORS: Amounts Falling Due after more than one year

During the previous year the foundation took out a government backed loan. The loan is repayable over 72 months. There were no repayments due during the first 12 months of the loan. The balance as at 31st August 2022 was £41,630. The loan is guaranteed by the government to provide assistance during the world wide covid pandemic.

Due Within One Year Due Between One and Five Years	2022 £ 10,000 31,630 41,630	2021 £ 7,500 42,500 50,000

12. PENSION COSTS

The charity operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the charity in an independently administered fund. The pension cost represents contributions payable by the charity to the fund and amounted to £1,196 (2021:£757). Contributions totalling £441 (2021 :£112) were payable to the fund at the period end and are included in creditors.

13. RELATED PARTY TRANSACTIONS

There were no material transactions with trustees or other connected persons.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Long Term Liabilities Net Assets at 31st August 2022 Tangible Fixed Assets Current Assets Current Liabilities	General Funds £ 922,976 150,595 ( 13,264) ( 31,630) 1,028,677	Restricted Funds £ - - - - -	Total Funds £ 922,976 150,595 ( 13,264) ( 31,630) 1,028,677

15. MOVEMENT IN FUNDS

Restricted Funds Unrestricted Funds General Funds Total Unrestricted Funds TOTAL FUNDS	At 1st September 2021 £ - 968,869 968,869 968,869	Incoming Resources £ - 387,685 387,685 387,685	Outgoing Resources £ - 327,877 327,877 327,877	At 31st August 2022 £ - 1,028,677 1,028,677 1,028,677