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Charity number: 1152822
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
WOKING GYMNASTICS CLUB
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
WOKING GYMNASTICS CLUB
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 17 |
| The following pages do not form part of the statutory financial statements: | |
| Charity Detailed income and expenditure account and summaries |
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WOKING GYMNASTICS CLUB
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2020
Trustees Lionel Smith-Gordon, Chairman Finn Chu, Vice Chairman Claire Beesly, Treasurer Michael Childress Charity registered number 1152822 Principal office Kingfield Road Woking Surrey GU22 9AA Accountants Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF Bankers HSBC Bank plc 6 Commercial Way Woking Surrey GU21 6EZ Independent Examiner Janice Matthews FCA Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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WOKING GYMNASTICS CLUB
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020
The Trustees present their annual report together with the financial statements of the Charity for the year 1 October 2019 to 30 September 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, the Club Constitution, and constitutes a Charitable Incorporated Organisation formed on 2 July 2013. The Club started operations on 1 October 2013 when it assumed the activities of the previous charity of the same name that had operated since the early 1980s.
Trustees & Management
Trustees are appointed by way of acceptance of nomination at the Annual General Meeting or co-opted during the year as provided for in the Constitution. New trustees are provided with both statutory Charity Commission and Club-specific documentation and training to enable them to fulfil their obligations and to contribute to the running of the Club.
The day to day running of the club is delegated to permanent members of staff who directly manage the administrative functions and our gymnastics programmes; these employees are not trustees but report to the trustees. The trustees set the annual objectives of key employees through a formal development process with regular reviews and annual assessments of their remuneration.
No trustee of the Charity had any personal interest in any contract or transaction entered into by the Charity during the year save for the fact that they are members of the Club and their child(ren) enjoy the facilities provided by the Club on the payment of the usual fees.
Decision Making
The Club and the Charity operate in accordance with the policies and codes of conduct of the National Governing Body, British Gymnastics.
Risk management
The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have considered the major business and operational risks faced by the Charity and have established systems to ensure that the necessary steps are taken to mitigate these risks.
OBJECTIVE AND ACTIVITIES
Objective and aims
The objective of the Charity, as laid down in its Constitution, is the promotion of community participation in healthy recreation in particular by the provision of facilities for gymnastics.
Significant activities
The significant activities of the Club are provision of classes and training sessions for members to undertake gymnastics activities; coaching and training of gymnasts; participation in competitions and events; promotion of well-being through gymnastics in the local community.
The Club also provides a range of activities that deliver benefit to a wider section of the public in the community, described in more depth in the section Annual Review below.
Public Benefit Reporting
The trustees have due regard to the guidance relating to public benefit published by the Charity Commission. The Club’s activities are primarily intended for the benefit of the people of Woking and the surrounding areas. Our Club is open to all, regardless of age, race, gender, or sexual orientation.
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WOKING GYMNASTICS CLUB
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Gymnastics requires specialist facilities, equipment, and a high ratio of qualified coaches to gymnasts to enable it to take place safely and this means that it will always be necessary to charge for the use of the facilities and for coaching received.
A bursary programme is in place to cater for situations where access to the Club would otherwise not be possible for a gymnast whose family are suffering significant financial hardship.
Charitable activities
During a substantial period of this financial year, the Club has been adversely affected by the Covid19 pandemic and the measures enforced by HM Government, resulting in long periods of physical closure. Unsurprisingly, from March 2020 to date, the ability of the club to carry out its usual activities has been significantly reduced.
For the period October 2019 to March 2020, the Club operated normally but with the onset of enforced Covid-19 lockdowns, we were forced to close by HM Government. In early summer, some limited re-opening was possible with social distancing constraints leading to reduced class sizes. At the very end of the financial year, further restrictions were applied, and the Club remained essentially closed until the spring of 2021.
Annual Review
Prior to the onset of the Covid-19 pandemic, the activities of the Club included:
Community activities.
The Club continued to devote effort to supporting the Woking area and wider community by:
-
Weekly visits to local schools promoting Gymnastics.
-
Associated teacher education at Schools and HE establishments.
-
Continued development of coaches and judges via our Leadership Academy.
Pre-School classes.
Our Fun4Baby, Fun4Toddler and classes designed for groups up to School reception age continue to be popular with approximately 75 children taking part regularly.
Recreational (Gymnastics for All)
Our recreational programme provides a range of classes to suit all ages and abilities, including freestyle gymnastics, home educated children, disability gymnastics and adult’s classes.
For the first half of the year (September 2019 to March 2020) our recreational programme continued to thrive, with 800 members participating on a weekly basis, taking us near to full capacity. Our focus being to provide a nurturing environment for all gymnasts to learn and develop.
We invested in our coaching team, with six coaches passing their level 1 qualification, three completing their level 2 coaching award and fourteen young leaders completing their award scheme coaching qualification to enable volunteering within our recreational classes.
Our floor and vault competition group continued to be a force during this period at both the Surrey and South East regional competitions. Numbers within these groups increased to 124 gymnasts that regularly represented the club at Surrey County and Regional level competitions.
Between March/April 2020 and August 2020, all activity within our recreational programme was suspended due to HM Government Covid-19 restrictions, resulting in zero activity levels and income.
Womens Artistic gymnastics
During the operational months of September 2019 to March 2020, the Women’s Artistic squad of 21 Gymnasts achieved notable success throughout, with seven gymnasts identified for the Clubs elite performance pathway. Others achieved individual recognition by selection at national level with British Gymnastics squads, and via South East regional selection.
During this time, both the Development and Elite squads won several regional medals in their respective groups whilst representing the Club.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Mens Artistic gymnastics
We began the year with 38 boys within the Squad, enjoying successes at national and international level with a number of gymnasts achieving selection for national age group squads.
Notable achievements of Club gymnasts included:
-
Senior British 3rd All-Around and Rings Masters
-
Selection for World Cup competition and 4th place on Pommels in Slovenia
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Senior TOP Squad selection and GB selection
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Junior World Championships Bronze on Vault
-
Scottish and English national Squad selection
Between March/April 2020 and August 2020, all training and competition activity for both our Men’s and Women’s Squads was suspended due to HM Government Covid-19 restrictions, resulting in zero activity levels and income during these times.
Covid-19 Operations
From March 2020 until August 2020 all Club activities, gymnastics or otherwise were suspended due to Covid-19 with virtually all staff placed on furlough.
In August 2020 we were able return a limited number of staff from furlough to run a skeleton programme of summer holiday classes. These were staged to retain the engagement of our members, to provide some level of activity for the children and to help with their health and wellbeing at a difficult time.
In September 2020, the last month of our financial year, a limited number of classes were permitted to return. Such classes were run at significantly reduced capacity to maintain social distancing measures and with sufficient down time between classes to enable for sanitising / cleaning of all gymnastics equipment.
FINANCIAL REVIEW
The Club has net assets of £423,948 (2019: £528,029) after recording a net deficit of £104,081 (2019: Surplus of £88,300) for the year ended 30 September 2020. Revenue for the Club this year was £532,861, a 18 percent decrease on the prior year (2019: £653,204). This decrease is almost entirely due to the Covid-19 related operational restrictions enforced upon the Club. Resources expended on the provision of gymnastic services have increased when compared to the prior year at £636,942 (2019: £564,904).
Reserves policy
Despite the Club making full use of available sources of financial support during the Covid-19 (HMRC Job Retention Scheme, national and local support grants), the on-going nature of the pandemic has necessitated the use of Club reserves to fund elements of the Club’s fixed operations and to partially offset loss revenue. This position has and will continue into the next financial year.
However, the prudent management stance taken by the trustees in previous years, to provide for unseen events or risks, has enabled the level of reserves available to be such that the Club, although not certain, has sufficient residual reserves to manage its way through the pandemic.
The forward plan of replacement and renewal has been amended to manage reduced expenditure so that reserves may be replenished over time.
OUTLOOK AND FUTURE PLANS
The activities of the Club are led by the demands of the local community; the Club will continue to respond to the needs identified by local and national research, to provide a programme of events to meet demand and to invest in capabilities which provide services to our community.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Facilities Development
The new and additional site for the Club’s Elite gymnastics, secured in 2018, was opened at Egley Road in August 2020 and is servicing the training requirements of our elite gymnasts, despite the requirement for additional space at our Kingfield facility failing to materialise due to Covid-19 related closures.
The trustees are still intending to progress the relocation of the Club to Ten Acre and continue to believe that the increased size and better quality that this facility would offer a critical to the ongoing development and survival of the Club. Prior to the pandemic, the trustees engaged a leading sports consultancy to develop the long-term business plan for the Club and the Ten Acre development and held discussions with Woking Borough Council on the funding for this project.
Following the pandemic, the focus of the Club, the Council and the wider Woking community has been on health and wellbeing, and recovery from the health and economic crisis. Accordingly, the Ten Acre project Is currently on hold, but the trustees aim to restart this in mid-2021.
Leadership
During the pandemic, the trustees analysed the management structure of the Club and identified changes required to reduce financial obligations and improve leadership and governance. The trustees resolved to create the role of Chief Executive Officer of the Charity and Club, reporting to the trustees and responsible for all aspects of the Club’s operations and development.
The trustees are pleased to report that Mr Andrew Challis was appointed Chief Executive with affect from 6 November 2020.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of our Constitution require 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently
-
observe the methods and principles in the Charity SORP
-
make judgements and estimates that are reasonable and prudent
• 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 keeping proper accounting records which 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 Constitution.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on and signed on their behalf by
……………………………………….. Lionel Smith-Gordon, Chair
Date: 29-Jul-2021
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INDEPENDENT EXAMINER'S REPORT
Independent examiner's report to the Trustees of Woking Gymnastics Club ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2020.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content 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 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 accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 29-Jul-2021
Janice Matthews FCA
Menzies LLP Chartered Accountants Centrum House Station Road Egham Surrey TW20 9LF
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Note Income from: Membership 2 Charitable activities 3 Fundraising 4 Investments Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 39,305 355,656 136,950 950 532,861 636,942 636,942 (104,081) 528,029 (104,081) 423,948 |
Total funds 2020 £ 39,305 355,656 136,950 950 532,861 636,942 636,942 (104,081) 528,029 (104,081) 423,948 |
Total funds 2019 £ 74,538 550,462 26,696 1,508 |
|---|---|---|---|
| 653,204 | |||
| 564,904 | |||
| 564,904 | |||
| 88,300 | |||
| 439,729 88,300 |
|||
| 528,029 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 17 form part of these financial statements.
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BALANCE SHEET AS AT 30 SEPTEMBER 2020
| Note Fixed assets Tangible assets 8 Current assets Stocks 9 Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 12 Total funds |
7,778 9,442 290,248 307,468 (32,457) |
2020 £ 148,937 148,937 275,011 423,948 423,948 423,948 423,948 |
5,672 2,401 387,210 395,283 (31,613) |
2019 £ 164,359 |
|---|---|---|---|---|
| 164,359 363,670 |
||||
| 528,029 | ||||
| 528,029 | ||||
| 528,029 | ||||
| 528,029 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Lionel Smith-Gordon, Chairman
Date: 29-Jul-2021
The notes on pages 10 to 17 form part of these financial statements.
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STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (89,435) (7,527) (7,527) (96,962) 387,210 290,248 |
2019 £ 31,522 (84,725) (84,725) (53,203) 440,413 |
|---|---|---|
| 387,210 |
The notes on pages 10 to 17 form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Woking Gymnastics Club meets the definition of a public benefit entity under FRS 102.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
1.2 Going concern
It was necessary for the club to close due to the measures enacted by HM Government to protect the country from the COVID-19 Coronavirus pandemic.
The Trustees have taken further steps to secure the future of the Club and are monitoring the situation regularly. Although the impact to income is significant, and the future is far from certain, the Trustees do not believe that the pandemic threatens the future of the Club or the stability of the Charity.
We believe that adequate cash resources will be available to cover the charity’s requirements for working capital and capital expenditure for at least the next twelve months and we are not aware of any other factors that we believe could put into jeopardy the charity’s going concern status. We have considered the effects of the COVID-19 pandemic on the charity and believe that it will not impact the charity’s ability to continue as a going concern. The financial statements have therefore been prepared on the going concern basis
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations recieved under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably..
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity, Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Charitable activites and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activites.
All expenditure is inclusive of irrecoverable VAT.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. Accounting policies (continued)
1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
| Sports hall & car park | - 4.18% straight line |
|---|---|
| Gymnastics equipment including | - 20% straight line |
| foam | |
| Floor | - 10% straight line |
| Office equipment & fixtures | - 25% straight line |
| Asymmetric bars | - 33.3% straight line |
| Work in progress assets | - 0% (assets not yet in use) |
| 20% & 25% straight line (assets in use) |
1.6 Stocks
Stocks 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.
1.7 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
2. Membership income
| Membership subscriptions Total 2019 |
Unrestricted funds 2020 £ 39,305 74,538 |
Total funds 2020 £ 39,305 74,538 |
Total funds 2019 £ 74,538 |
|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
3. Income from charitable activities
| Clothing & other gymnastics activities Coaching income Total 2019 |
Unrestricted funds 2020 £ 20,042 335,614 355,656 550,462 |
Total funds 2020 £ 20,042 335,614 355,656 550,462 |
Total funds 2019 £ 34,976 515,486 |
|---|---|---|---|
| 550,462 | |||
4. Fundraising income
| Gift aid tax refunded Club festival Other fundraising income Donations Grants 200 Club Job Retention Scheme Total 2019 |
Unrestricted funds 2020 £ 10,418 - 3,806 7,964 29,000 2,849 82,913 136,950 26,696 |
Total funds 2020 £ 10,418 - 3,806 7,964 29,000 2,849 82,913 136,950 26,696 |
Total funds 2019 £ 12,892 4,488 3,540 796 650 4,330 - |
|---|---|---|---|
| 26,696 | |||
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
5. Analysis of expenditure by activities
| Recreational Gymnastics Total 2019 Analysis of support costs Staff costs Depreciation Establishment expenses Office support expenses Miscellaneous expenses Legal fees Independent Examiners fees Other professional fees Total 2019 6. Net income/(expenditure) Deprecation of tangible fixed assets: -owned by the charity Independent Examiners fees |
Activities undertaken directly 2020 £ 389,165 386,155 |
Support costs 2020 £ 247,777 178,749 Recreational Gymnastics 2020 £ 103,589 1,510 101,923 28,353 154 (2,400) 5,979 8,669 247,777 178,749 |
Total funds 2020 £ 636,942 564,904 Total funds 2020 £ 103,589 1,510 101,923 28,353 154 (2,400) 5,979 8,669 247,777 178,749 2020 £ 21,844 5,979 |
Total funds 2019 £ 564,904 |
|---|---|---|---|---|
| Total funds 2019 £ 105,087 1,263 36,632 24,230 814 2,400 6,800 1,523 |
||||
| 178,749 | ||||
| 2019 £ 20,773 6,800 |
During the year, no Trustees received any remuneration (2019- £Nil). During the year, no Trustees received any benefits in kind (2019 - £Nil).
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
7. Staff costs
| Wages and salaries Social security costs Pension costs |
2020 £ 400,518 27,967 6,860 435,345 |
2019 £ 392,933 21,890 9,825 |
|---|---|---|
| 424,648 |
The average number of persons employed by the Charity during the year was as follows:
| Support and administration Contract support staff Coaching staff |
2020 No. 4 2 37 43 |
2019 No. 4 2 32 |
|---|---|---|
| 38 |
No employee received remuneration amounting to more than £60,000 in either year.
The amount of remuneration awarded to key management personnel was £87,466 (2019: £84,635)
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
8. Tangible fixed assets
| Sports hall & car park £ Cost At 1 October 2019 90,603 Additions - At 30 September 2020 90,603 Depreciation At 1 October 2019 77,361 Charge for the year 3,785 At 30 September 2020 81,146 Net book value At 30 September 2020 9,457 At 30 September 2019 13,242 Stocks Finished goods and goods for resale |
Leasehold property £ 11,683 - 11,683 10,634 300 10,934 749 1,049 |
Floor, foam & equipment £ 328,600 - 328,600 273,577 16,180 289,757 38,843 55,023 |
Office equipment & Fixtures £ 26,876 2,964 29,840 25,572 1,510 27,082 2,758 1,304 |
Work in progress assets £ 93,741 4,563 98,304 - 1,174 1,174 97,130 93,741 2020 £ 7,778 |
Total £ 551,503 7,527 |
|---|---|---|---|---|---|
| 559,030 | |||||
| 387,144 22,949 |
|||||
| 410,093 | |||||
| 148,937 | |||||
| 164,359 | |||||
| 2019 £ 5,672 |
9. Stocks
10. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income Tax recoverable |
2020 £ 3,925 552 4,825 140 9,442 |
2019 £ 19 - 2,242 140 |
|---|---|---|
| 2,401 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
11. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2020 £ 5,608 19,252 7,597 32,457 |
2019 £ 5,662 18,727 7,224 |
|---|---|---|
| 31,613 |
12. Statement of funds
Statement of funds - current year
| Unrestricted funds Reserves Statement of funds - prior year Unrestricted funds Reserves |
Balance at 1 October 2019 £ 528,029 Balance at 1 October 2018 £ 439,729 |
Income £ 532,861 Income £ 653,204 |
Expenditure £ (636,942) Expenditure £ (564,904) |
Balance at 30 September 2020 £ 423,948 |
|---|---|---|---|---|
| Balance at 30 September 2019 £ 528,029 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
13. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities 14. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 15. Analysis of changes in net debt At 1 October 2019 £ Cash at bank 387,210 387,210 |
2020 £ (104,081) 22,949 (2,106) (7,041) 844 (89,435) 2020 £ 290,248 290,248 Cash flows £ (96,962) (96,962) |
2019 £ 88,300 20,773 3,621 1,869 (83,041) |
|---|---|---|
| 31,522 | ||
| 2019 £ 387,210 |
||
| 387,210 | ||
| At 30 September 2020 £ 290,248 290,248 |
16. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 30 September 2020.
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DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
WOKING GYMNASTICS CLUB
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Income Donations Grants Membership Subscriptions Gift aid tax recovered Club festival Other fundraising income Clothing & other gymnastic activities Coaching income 200 Club Other miscellaneous income Government grants Less: Charity expenditure Clothing and other gymnastic activities Other gymnastic costs Bursaries Fundraising expenses Repairs and maintenance Direct costs - wages & salaries Direct costs - NI Direct costs - depreciation Direct costs - pension Support costs - establishment costs Support costs - depreciation Support costs - wages and salaries Support costs - NI Support costs - office support expenses Support costs - miscellaneous expenses Total Charity expenditure Governance expenditure Independent examiners fees Other professional fees Bad debts written off Legal fees Total Governance expenditure (Deficit)/Surplus for the reporting period |
2020 £ 7,964 29,000 39,305 10,418 - 3,806 20,042 335,614 2,849 950 82,913 13,538 76,805 4,398 559 9,045 305,367 19,529 20,334 6,860 39,758 1,510 95,151 8,438 28,353 154 5,979 7,064 (3,500) (2,400) |
2020 £ 532,861 629,799 7,143 (104,081) |
2019 £ 796 650 74,538 12,892 4,488 3,540 34,976 515,486 4,330 1,508 - 23,662 15,860 6,274 948 260 296,344 13,392 19,510 9,825 36,632 1,263 96,589 8,498 24,230 814 6,800 1,523 80 2,400 |
2019 £ |
|---|---|---|---|---|
| 653,204 | ||||
| 554,101 | ||||
| 10,803 | ||||
| 88,300 |
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