## **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|
1
## **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.
2
## **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.
3
## **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
4
## **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
5
## **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.
6
## **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)
7
## 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.
8
## 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.
9
|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|
|---|---|---|---|---|---|
10
## 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|
|---|---|---|---|---|
11
## 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|
|---|---|---|
12
## 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|
|---|---|---|
13
## 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|
|---|---|---|---|---|
14