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← York City Gymnastics Foundation

2023-08-31-accounts

Digitally Signed Document Document ID: E4968F3ACC284A

==> picture [115 x 36] intentionally omitted <==

Document Details

Filename: 1. Final Accounts 2023.pdf Client of: Walter Dawson & Son

Signature Details

Name: Mark Wild Email: m.wild@ycgf.org.uk Date & Time: 27/06/2024 13:37:23 PM (BST) IP Address: 151.249.70.164 York City Gymnastics Foundation agrees and Signing Statement: approves the contents of this document.

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Please keep a copy of this document for your records.

REGISTERED CHARITY NUMBER: 1152515

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

YORK CITY GYMNASTICS FOUNDATION

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

YORK CITY GYMNASTICS FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3 to 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 16
Detailed Statement of Financial Activities 17 to 18

YORK CITY GYMNASTICS FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

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.

STRATEGIC REPORT

Achievement and performance

The 22-23 financial year has seen the Foundation continue to stabilise its operations and financial position, and is now operating very much on a business as usual basis. Moving forward, the focus for the organisation is building for the future. We are planning on making significant investment in our staff, equipment and facilities. This has started with the replacement and updating of various items of equipment within the gym, and will continue over the next few years. The Trustees look forward to continuing to deliver on their charitable aims in the coming year and to further improve the experience and enjoyment of the many children and adults that participate in the activities we provide.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

CE000493 (England and Wales)

Registered Charity number

1152515

Registered office

The Gymnastics Centre St John's Walk Heworth Green York North Yorkshire YO31 7SX

Trustees

M Wild R Edwards (appointed 3.3.23) N Swain Treasurer

Company Secretary

M Wild

Page 1

YORK CITY GYMNASTICS FOUNDATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 27 June 2024 and signed on the board's behalf by:

M Wild - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORK CITY GYMNASTICS FOUNDATION

Independent examiner's report to the trustees of York City Gymnastics Foundation ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORK CITY GYMNASTICS FOUNDATION

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

Julie A Young FCCA ACA The Institute of Chartered Accountants in England and Wales

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

27 June 2024

Page 4

YORK CITY GYMNASTICS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Total
EXPENDITURE ON
Raising funds
4
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2023
Unrestricted
fund
£
2,820
523,615
526,435
449,700
76,735
1,028,676
1,105,411		 2022
Total
funds
£
2,975
384,709
387,684
327,877
59,807
968,869
1,028,676

The notes form part of these financial statements

Page 5

YORK CITY GYMNASTICS FOUNDATION

BALANCE SHEET

31 AUGUST 2023

Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one
year
12
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2023
Unrestricted
fund
£
960,265
1,970
183,140
185,110
(17,464)
167,646
1,127,911
(22,500)
1,105,411
1,105,411
1,105,411		 2022
Total
funds
£
922,976
480
150,595
151,075
(13,745)
137,330
1,060,306
(31,630)
1,028,676
1,028,676
1,028,676

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 27 June 2024 and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 6

YORK CITY GYMNASTICS FOUNDATION

BALANCE SHEET - continued

31 AUGUST 2023

M Wild - Trustee

The notes form part of these financial statements

Page 7

YORK CITY GYMNASTICS FOUNDATION

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023
2023
Notes
£
Cash flows from operating activities
Cash generated from operations
1
105,272
Net cash provided by operating activities
105,272
Cash flows from investing activities
Purchase of tangible fixed assets
(61,778)
Sale of tangible fixed assets
-
Net cash used in investing activities
(61,778)
Cash flows from financing activities
Loan repayments in year
(10,949)
Net cash used in financing activities
(10,949)
Change in cash and cash equivalents
in the reporting period
32,545
Cash and cash equivalents at the
beginning of the reporting period
150,595
Cash and cash equivalents at the end
of the reporting period
183,140		 2022
£
78,983
78,983
(34,714)
5,760
(28,954)
(8,370)
(8,370)
41,659
108,936
150,595

The notes form part of these financial statements

Page 8

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2023
£
76,735
24,489
1,819
(1,490)
3,719
105,272		 2022
£
59,807
19,822
-
(480)
(166)
78,983

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.9.22
Cash flow
At 31.8.23
£
£
£
Cash at bank and in hand 150,595
32,545
183,140
150,595
32,545
183,140
Debt
Debts falling due within 1 year (10,000)
-
(10,000)
Debts falling due after 1 year (31,630)
9,130
(22,500)
(41,630)
9,130
(32,500)
Total 108,965
41,675
150,640

The notes form part of these financial statements

Page 9

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Gymnastics equipment - 10% on reducing balance Computer equipment - 25% on reducing balance

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 10

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

2. DONATIONS AND LEGACIES

Donations
Apprenticeship grant
Interest income
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Club fees
Gymnasium hire
Shop/cafe takings
Badge and chalk sales
Income from solar panels
4.
RAISING FUNDS
OTHER TRADING ACTIVITIES
Purchases
Printing, stationery and advertising
Insurance
Rates
Water
Telephone and internet etc
Accountancy fees
Legal and professional fees
Bank and card charges
Cleaning
Sundries
Repairs and renewals
Wages and pension premiums
Competition entries
Team clothing
Pension charges
Loan interest
Carried forward		 2023
£
535
2,000
285
2,820
2023
£
2,000
2023
£
502,829
13,241
3,775
1,365
2,405
523,615
2023
£
25,459
3,119
38,826
3,580
2,104
4,158
2,557
2,693
14,416
23,230
3,162
11,296
253,420
12,589
22,567
216
1,819
425,211		 2022
£
971
2,000
4
2,975
2022
£
2,000
2022
£
369,796
9,172
2,048
1,451
2,242
384,709
2022
£
16,094
3,182
33,832
3,373
2,538
4,377
2,041
3,697
6,693
19,563
1,609
14,030
187,520
7,704
1,248
144
-
307,645

continued...

Page 11

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

4. RAISING FUNDS - continued

OTHER TRADING ACTIVITIES - continued

Brought forward
Depreciation of gymnastics equipment
Depreciation of computer equipment
Loss on disposal of fixed assets
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2023
£
425,211
23,646
843
-
449,700
2023
£
24,489		 2022
£
307,645
133
19,689
410
327,877
2022
£
19,822

5. NET INCOME/(EXPENDITURE)

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

7. STAFF COSTS

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

Part-time
Full-time		 2023
9
20
29		 2022
11
13
24

No employees received emoluments in excess of £60,000.

continued...

Page 12

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Total
EXPENDITURE ON
Raising funds
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
2,975
384,709
387,684
327,877
59,807
968,869
1,028,676

9. TANGIBLE FIXED ASSETS

COST
At 1 September 2022
Additions
At 31 August 2023
DEPRECIATION
At 1 September 2022
Charge for year
At 31 August 2023
NET BOOK VALUE
At 31 August 2023
At 31 August 2022		 Freehold
property
£
744,925
-
744,925
-
-
-
744,925
744,925		 Gymnastics
equipment
£
215,684
58,802
274,486
38,030
23,646
61,676
212,810
177,654		 Computer
equipment
Totals
£
£
530
961,139
2,976
61,778
3,506
1,022,917
133
38,163
843
24,489
976
62,652
2,530
960,265
397
922,976

continued...

Page 13

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
Social security and other taxes
Other creditors
Accruals and deferred income
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years		 2023
£
1,970
-
1,970
2023
£
10,000
3,681
601
3,182
17,464
2023
£
22,500
2023
£
10,000
10,000
12,500		 2022
£
-
480
480
2022
£
10,000
-
441
3,304
13,745
2022
£
31,630
2022
£
10,000
10,000
21,630

continued...

Page 14

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

14. MOVEMENT IN FUNDS

Net
movement
At 1.9.22
in funds
£
£
Unrestricted funds
General fund
1,028,676
76,735
TOTAL FUNDS
1,028,676
76,735
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
526,435
(449,700)
TOTAL FUNDS
526,435
(449,700)
Comparatives for movement in funds
Net
movement
At 1.9.21
in funds
£
£
Unrestricted funds
General fund
968,869
59,807
TOTAL FUNDS
968,869
59,807
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
387,684
(327,877)
TOTAL FUNDS
387,684
(327,877)		 At
31.8.23
£
1,105,411
1,105,411
Movement
in funds
£
76,735
76,735
At
31.8.22
£
1,028,676
1,028,676
Movement
in funds
£
59,807
59,807

continued...

Page 15

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.21
£
968,869
968,869		 Net
movement
in funds
£
136,542
136,542		 At
31.8.23
£
1,105,411
1,105,411

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
914,119
914,119		 Resources
Movement
expended
in funds
£
£
(777,577)
136,542
(777,577)
136,542

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2023.

Page 16

YORK CITY GYMNASTICS FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Apprenticeship grant
Interest income
Other trading activities
Club fees
Gymnasium hire
Shop/cafe takings
Badge and chalk sales
Income from solar panels
Total incoming resources
EXPENDITURE
Other trading activities
Coaching expenses and course fees
Purchases
Printing, stationery and advertising
Insurance
Rates
Water
Telephone and internet etc
Accountancy fees
Legal and professional fees
Bank and card charges
Cleaning
Sundries
Repairs and renewals
Wages and pension premiums
Competition entries
Team clothing
Pension charges
Loan interest
Depreciation of gymnastics equipment
Depreciation of computer equipment
Loss on disposal of fixed assets		 2023
£
535
2,000
285
2,820
502,829
13,241
3,775
1,365
2,405
523,615
526,435
20,156
5,303
3,119
38,826
3,580
2,104
4,158
2,557
2,693
14,416
23,230
3,162
11,296
253,420
12,589
22,567
216
1,819
23,646
843
-
449,700		 2022
£
971
2,000
4
2,975
369,796
9,172
2,048
1,451
2,242
384,709
387,684
14,855
1,239
3,182
33,832
3,373
2,538
4,377
2,041
3,697
6,693
19,563
1,609
14,030
187,520
7,704
1,248
144
-
133
19,689
410
327,877

This page does not form part of the statutory financial statements

Page 17

YORK CITY GYMNASTICS FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

Total resources expended
Net income		 2023
£
449,700
76,735		 2022
£
327,877
59,807

This page does not form part of the statutory financial statements

Page 18