**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 2023** **for** **East Midlands Cheerleading Academy** **East Midlands Cheerleading Academy** ## **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| |**Statement of Financial Activities**|4| |**Balance Sheet**|5 to 6| |**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 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** ## **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. 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 a prior year, costs of £55,722 were incurred in relation to roof repairs. As the guarantee period for the work exceeded the term of the premise lease, 50% of this cost was met by the landlord. Should the charity choose to extend their lease beyond the current lease term ending in December 2028 the charity may be required to repay the landlord's contribution. Revenue increased during the year due to membership growth in the wake of the Covid-19 pandemic. Class fees continued to be granted to approximately 10% of children where parents were in financial or other support. ## **FINANCIAL REVIEW** ## **Reserves policy** Although the charity does not have a specific reserves policy, it continues to hold significant cash funds, which would be more than sufficient to cover any unexpected costs or loss of income over the next few years. ## **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. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 08538449 (England and Wales) ## **Registered Charity number** 1154233 Page 1 **East Midlands Cheerleading Academy** **Report of the Trustees for the Year Ended 31 August 2023** ## **Registered office** 23 Handel Street Nottingham NG3 1JE ## **Trustees** Anna Mead (resigned 3.2.24) Helena Zarzycki (resigned 3.2.24) Alison Gill (appointed 3.2.24) Owain Davies (appointed 3.2.24) Robin Enderby (appointed 3.2.24) Lisa Marie Trory (appointed 3.2.24) The trustee memorandum sets out the role and approach for the charity's trustees. ## **Independent Examiner** Deborah Caine Mellor Oxland LLP Chartered Accountants Hine House 25 Regent Street Nottingham NG1 5BS Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................... Owain Davies - Trustee Page 2 **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 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. ## **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. Deborah Caine Mellor Oxland LLP Chartered Accountants Hine House 25 Regent Street Nottingham NG1 5BS Date: ............................................. Page 3 ## **East Midlands Cheerleading Academy** ## **Statement of Financial Activities for the Year Ended 31 August 2023** |2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Other income
2
389,960
**EXPENDITURE ON**
Other
414,461
**NET INCOME/(EXPENDITURE)**
(24,501)
**RECONCILIATION OF FUNDS**
Total funds brought forward
220,671
**TOTAL FUNDS CARRIED FORWARD**
196,170|2022
Total
funds
£
213,934
235,351
(21,417)
242,088
220,671| |---|---| The notes form part of these financial statements Page 4 **East Midlands Cheerleading Academy** ## **Balance Sheet 31 August 2023** |2023
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
57,860
**CURRENT ASSETS**
Debtors
7
10,300
Cash at bank
129,469
139,769
**CREDITORS**
Amounts falling due within one year
8
(1,459)
**NET CURRENT ASSETS**
138,310
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
196,170
**NET ASSETS**
196,170
**FUNDS**
9
Unrestricted funds
196,170
**TOTAL FUNDS**
196,170|2022
Total
funds
£
70,937
-
151,625
151,625
(1,891)
149,734
220,671
220,671
220,671
220,671| |---|---| 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 - (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 Page 5 continued... **East Midlands Cheerleading Academy** ## **Balance Sheet - continued 31 August 2023** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Owain Davies - Trustee The notes form part of these financial statements Page 6 **East Midlands Cheerleading Academy** ## **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. Plant and machinery - 20% on cost Fixtures and fittings - 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. The current lease ends in December 2028. . ## **Taxation** The charity is exempt from corporation tax on its charitable activities. Page 7 continued... **East Midlands Cheerleading Academy** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **2. OTHER INCOME** |Fees collected
Gym hire
Worlds
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2023
£
339,838
6,330
43,792
389,960
2023
£
13,077|2022
£
173,606
4,060
36,268
213,934
2022
£
9,489| |---|---|---| ## **3. NET INCOME/(EXPENDITURE)** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** During the year the trustees received payments to remunerate them for the time spent on administrative matters performed for the charity. Anna Mead received £14,169.50 and Helena Zarzycki £20,004. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**|Unrestricted
fund
£| |---|---| |Other income|213,934| |**EXPENDITURE ON**|| |Other|235,351| |**NET INCOME/(EXPENDITURE)**|(21,417)| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|242,088| Page 8 continued... **East Midlands Cheerleading Academy** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** |**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**| |---|---|---|---|---|---| ||||||Unrestricted| ||||||fund| ||||||£| ||**TOTAL FUNDS CARRIED**||||| ||**FORWARD**||||220,671| |**6.**|**TANGIBLE FIXED ASSETS**||||| ||**COST**|Plant and
machinery
£||Fixtures
and
fittings
£|Totals
£| ||At 1 September 2022 and||||| ||31 August 2023|61,569||94,071|155,640| ||**DEPRECIATION**||||| ||At 1 September 2022|61,569||23,134|84,703| ||Charge for year||-|13,077|13,077| ||At 31 August 2023|61,569||36,211|97,780| ||**NET BOOK VALUE**||||| ||At 31 August 2023||-|57,860|57,860| ||At 31 August 2022||-|70,937|70,937| |**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||Prepayments|||2023
£
10,300|2022
£
-| ||||||| Page 9 continued... **East Midlands Cheerleading Academy** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Accrued expenses
**9.**
**MOVEMENT IN FUNDS**
At 1.9.22
£
**Unrestricted funds**
General fund
220,671
**TOTAL FUNDS**
220,671
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
389,960
**TOTAL FUNDS**
389,960
**Comparatives for movement in funds**
At 1.9.21
£
**Unrestricted funds**
General fund
242,088
**TOTAL FUNDS**
242,088|2023
£
1,459
Net
movement
in funds
£
(24,501)
(24,501)
Resources
expended
£
(414,461)
(414,461)
Net
movement
in funds
£
(21,417)
(21,417)|2022
£
1,891
At
31.8.23
£
196,170
196,170
Movement
in funds
£
(24,501)
(24,501)
At
31.8.22
£
220,671
220,671| |---|---|---| Page 10 continued... **East Midlands Cheerleading Academy** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **9. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
213,934
213,934|Resources
expended
£
(235,351)
(235,351)|Movement
in funds
£
(21,417)
(21,417)| |---|---|---|---| There are no unrestricted funds held at 31 August 2023 or 31 August 2022. ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 August 2023. Page 11 ## **East Midlands Cheerleading Academy** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023** |2023
Unrestricted
funds
£
**INCOME AND ENDOWMENTS**
**Other income**
Fees collected
339,838
Gym hire
6,330
Worlds
43,792
389,960
**Total incoming resources**
389,960
**EXPENDITURE**
**Other**
Kit purchases
63,913
Coaching costs
116,575
Hall running
65,976
Ticket purchases
84,701
Worlds costs
52,664
Other costs
16,097
Fixtures and fittings
13,077
413,003
**Support costs**
**Governance costs**
Accountancy fees
1,458
Total resources expended
414,461
**Net income**
(24,501)|2022
Total
funds
£
173,606
4,060
36,268
213,934
213,934
19,720
67,007
63,446
24,631
45,347
4,325
9,489
233,965
1,386
235,351
(21,417)| |---|---| This page does not form part of the statutory financial statements Page 12