DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
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**||
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
## 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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## WOKING GYMNASTICS CLUB
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
- Senior TOP Squad selection and GB selection
- 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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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## WOKING GYMNASTICS CLUB
## 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).
Page 13
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
## WOKING GYMNASTICS CLUB
## 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)
Page 14
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
## WOKING GYMNASTICS CLUB
## 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_|
Page 15
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
## WOKING GYMNASTICS CLUB
## 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_|
Page 16
DocuSign Envelope ID: E25057FF-95BC-4A73-96DC-3CF62D094ED2
## WOKING GYMNASTICS CLUB
## 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.
Page 17
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_|
Page 18