REGISTERED COMPANY NUMBER: 08538449 (England and Wales) REGISTERED CHARITY NUMBER: 1154233 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2020 for East Midlands Cheerleading Academy
East Midlands Cheerleading Academy Contents of the Financial Statements for the Year Ended 31 August 2020 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 11 Detailed Statement of Financial Activities 12
East Midlands Cheerleading Academy Report of the Trustees for the Year Ended 31 August 2020 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 2020. 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 Charities aims and performance East Midlands Cheerleading Academy was set up to provide cheerleading classes to the local community in Nottingham, with particular focus on keeping young people under the age of 18 in sport. Concessions are made on a discretionary basis and class fees are kept as low as possible to allow children whose families would otherwise be unable to afford it to take part. Cheerleading classes are usually offered within our facility 6 days a week and support children from the age of 3 up to adults, both male and female, although this has not always been possible recently due to Covid-19 restrictions. The trustees therefore confirm that the charity is run for public benefit and they have had full regard to the guidance issued by the charity commission on public benefit. EMCA has grown as a club in terms of the number of athletes taking part each year, and have been offering classes to over 250 young people. Most of these young people are girls under the age of 18 who were previously not doing any physical activity, thus we continue to meet our main goals as a charity, keeping girls fit and active as well as building life long skills of teamwork, trust and commitment. Financial summary During the previous year we had to move the location of our gym due to our previous gym being knocked down by the local council. We were fortunate enough to find a warehouse in Nottingham that was large enough to allow us to move and also to increase our class offerings to more young people across Nottingham. This did however necessitate as considerable amount of capital expenditure to ensure the new premises was able to meet our requirements. In addition to the costs associated with the new lease arrangements, electrical works, roof fixes, and new equipment were required to support the layout and other building work to make it safe and appropriate to work functionally as a cheerleading gym. The lease runs for 10 years from December 2018. Revenue continued to grow in the previous year as we welcomed new members to the club and increased class offerings, and concessions for class fees continued to be granted to approximately 10 % of children where parents were in financial or other support. Premises costs increased as a result of the move to the new premises but class fees were sufficient to continue to meet those costs. As in previous years the majority of income is generated from class fees, but other income sources -include payments for kit, uniform, competition entry and tickets. No profit is made on these other income sources to ensure there is not financial barrier for those wishing to join the club. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is a company limited by guarantee. as defined by the Companies Act 2006. and is governed by its Memorandum and Articles, as amended by Special Resolution.
East Midlands Cheerleading Academy Report of the Trustees for the Year Ended 31 August 2020 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08538449 (England and Wales) Registered Charity number 1154233 Registered office 23 Handel Street Nottingham NG3 1JE Trustees Anna Mead Nicola van Gelder The trustee memorandum sets out the role and approach for the charity's trustees. Trustees are voted in every three years by volunteers & parents, to ensure that the club continues to make progress and meet its charitable aims in the best way possible. Independent Examiner Deborah Caine ACA Mellor Oxland LLP Quantum House 3-5 College Street Nottingham NG15AQ Approved by order of the board of trustees on .behal.f by: 22/s/LI and signed on its Nicola van Gelder - Trustee
East Midlands Cheerleading Academy Statement of Financial Activities for the Year Ended 31 August 2020 2020 Unrestricted fund 2019 Total funds Notes INCOME AND ENDOWMENTS FROM Other income 354,766 299,697 EXPENDITURE ON Other 305,112 286,274 NET INCOME 49,654 13,423 RECONCILIATION OF FUNDS Total funds brought forward 200,033 186,610 TOTAL FUNDS CARRIED FORWARD 249,687 200,033 The notes form part of these financial statements
East Midlands Cheerleading Academy Balance Sheet 31 August 2020 2020 Unrestricted fund 2019 Total funds Notes FIXED ASSETS Tangible assets 48,930 51,538 CURRENT ASSETS Cash at bank 201,957 148,495 CREDITORS Amounts falling due within one year (1,200) NET CURRENT ASSETS 200,757 148,495 TOTAL ASSETS LESS CURRENT LIABILITIES 249,687 200,033 NET ASSETS 249,687 200,033 FUNDS u.nrestricted funds 249,687 200,033 TOTAL FUNDS 249,687 200,033 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements
Independent Examiner's Report to the Trustees of East Midlands Cheerleading Academy Independent examiner's report to the trustees of East Midlands Cheerleading Academy ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020. 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 2.011 ('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. 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 l am qualified to undertake the examination because l am a registered member of ACA 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: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or the accounts do not accord with those records; or 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 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. Deborah Caine ACA Mellor Oxland LLP Quantum House 3-5 College Street Nottingham NG15AQ Date: Page 3
East Midlands Cheerleading Academ.y Balance Sheet - continued 31 August 2020 These financial statements have been prepared in accordance with the provisions applicable to Gharitable companies subject to the small Gompanies regime. The financial statements were approved by the Board of Trustees and authorised for issue on LoJ:-J.i.(.............. and were signed on its behalf by: V(. ./,' Nicola van Geld¢r - Trustee The notes form part of these financial statements
East Midlands Cheerleading Academy Notes to the Financial Statements for the Year Ended 31 August 2020 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. Prior year figures have been restated in respect of Prepayments, Bank balances, Fees collected and Other expenses, as an incorrect version of the accounts was inadvertently filed. 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. Plant and machinery Fixtures and fittings 20 % on cost in accordance with the property Fixtures and fittings are written off on a straight line basis over the remaining term of the property lease at the time of purchase. Taxation The charity is exempt from corporation tax on its charitable activities.
East Midlands Cheerleading Academy Notes to the Financial Statements - continued for the Year Ended 31 August 2020 OTHER INCOME 2020 2019 Government grants Fees collected Gym hire Kit sales Competition tickets Other income Worlds Fundraising 34,000 169,706 6,280 206,985 9,508 21,282 25,100 519 28,010 8,293 139,029 5,751 354,766 299,697 During the year grants of £34,000 were received from Covid-19 government support schemes. NET INCOMEI(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2020 2019 Depreciation - owned assets 10,264 8,763 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019. Trustees, expenses There were no trustees, expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Other income 299,697 EXPENDITURE ON Other 286,274 NET INCOME 13,423
-East Midlands Cheerleading Academy Notes to the Financial Statements - continued for the Year Ended 31 August 2020 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund RECONCILIATION OF FUNDS Total funds brought fonNard 186,610 TOTAL FUNDS CARRIED FORWARD 200,033 TANGIBLE FIXED ASSETS Fixtures and fittings Plant and machinery Totals COST At 1 September 2019 Additions 61,569 46,859 7,656 108,428 7,656 At 31 August 2020 61,569 54,515 116,084 DEPRECIATION At 1 September 2019 Charge for year 56,890 4,407 56,890 10,264 5,857 At 31 August 2020 61,297 5,857 67,154 NET BOOK VALUE At 31 August 2020 272 48,658 48,930 At 31 August 2019 4,679 46,859 51,538
East Midlands Cheerleading Academy Notes to the Financial Statements - continued for the Year Ended 31 August 2020 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 .2019 Accrued expenses 1,200 MOVEMENT IN FUNDS Net movement in funds At 31.8.20 At 1.9.19 Unrestricted funds General fund 200,033 49,654 249,687 TOTAL FUNDS 200,033 49,654 249,687 Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 354,766 (305,112) 49,654 TOTAL FUNDS 354,766 (305,112) 49,654 Comparatives for movement in funds Net movement in funds At 31.8.19 At 1.9.18 Unrestricted funds General fund 186,610 13,423 200,033 TOTAL FUNDS 186,610 13,423 200,033
East Midlands Cheerleading Academy Notes to the Financial Statements - continued for the Year Ended 31 August 2020 MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 299,697 (286,274) 13,423 TOTAL FUNDS 299,697 (286,274) 13,423 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2020.
East -midlands Cheerleading Academy Detailed Statement of Financial Activities for the Year Ended 31 August 2020 2020 2019 INCOME AND ENDOWMENTS Other income Government grants Fees collected Gym hire Kit sales Competition tickets Other income Worlds Fundraising 34,000 169,706 6,280 206,985 9,508 21,282 25,100 519 28,010 8,293 139,029 5,751 354,766 299,697 Total incoming resources 354,766 299,697 EXPENDITURE Other Kit purchases Coaching costs Hall running Ticket purchases Worlds costs Other costs Fundraising costs Plant and machinery Fixtures and fittings 28,703 35,152 59,375 45,841 120,942 1,812 1,823 4,407 5,857 20,497 27,200 32,787 53,377 46,078 97,572 8,763 303,912 286,274 Support costs Governance costs Accountancy fees 1,200 Total resources expended 305,112 286,274 Net income 49,654 13,423 This page does not form part of the statutory financial statements