**Charity number: 1159361** ## **ARABIAN SCHOOL OF GYMNASTICS** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 JUNE 2021** ## **ARABIAN SCHOOL OF GYMNASTICS** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 5| |**Independent examiner's report**|6 - 7| |**Statement of financial activities**|8| |**Balance sheet**|9| |**Notes to the financial statements**|10 - 22| **ARABIAN SCHOOL OF GYMNASTICS** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021** Trustees Mr G Howton Mrs J Thompson Mr A Clark Ms I Jones **Charity registered number** 1159361 **Principal office** Sovereign Court 230 Upper Fifth Street Milton Keynes MK9 2HR **Independent examiner** MHA MacIntyre Hudson Chartered Accountants Moorgate House 201 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1LZ Page 1 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021** The trustees present their report and accounts for the year ended 30th June 2021. The financial statements have been prepared in accordance with the accounting policies on page 9 and comply with the charities trust deed and applicable law. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). ## **Objectives and activities** The principal activity of the school is to provide gymnastics facilities for children and young people of all backgrounds and abilities from Bletchley, Buckinghamshire and other areas. The objectives of the charity are set out in its Memorandum of Association. The main objective is to advance the education of children and young persons, by ensuring that due attention is given to the development and occupation of their minds and to encourage such persons to participate in gymnastics and other activities. In addition we provide or assist in the organisation or provision of facilities for physical recreation in the interests of social welfare for such persons under the age of 25 and who, by reason of their youth and social and economic circumstances have need for such facilities with the object of improving their conditions of life. We continually review our work to determine whether it continues to meet our aims, objectives and activities and provides good quality services for the benefit the public. We monitor, and respond to, the views and opinions of our gymnasts, their parents and other interested parties, to ensure that the services we deliver meet their needs. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ASG’s main activity remained the coaching of gymnastics for pre-school and school age children in the gym at Bletchley Leisure Centre. Holding a number of classes were held during the day and in evenings throughout the week and entering gymnastic competitions. The charity also take gymnasts abroad for competitions. Sometimes this is their first trip abroad without their parents. All our charitable activities focus on the provision of gymnastic services and are undertaken to further our charitable purposes for the public benefit. Via Gymnasts we endeavour to teach our gymnasts the value of team work, focus and a mature and professional attitude as well as the physical ones of fitness, balance, strength, etc. ## **Achievements and performance** The year ending 30 June 2021 was a tough year for many businesses and charities due to the Covid-19 pandemic. Arabian was forced to close, at extremely short notice and for undetermined periods at the time. Although the initial generosity and support from our members continued whilst we were closed for the second time, certainly in terms of fees paid, no one knew how long we would be until we could reopen, and this level of financial support reduced as the months went by and uncertainty increased. In many ways our focus on cutting all unnecessary costs very early in the pandemic was a successful strategy which, together with support from the Government Bouncebank loan, furlough scheme and our savings, allowed us to continue operating under ever changing and testing circumstances. Early in the pandemic we negotiated with the landlord of our separate finance office, and they were kind enough to agree an early termination of the lease – although there were dilapidation costs the ongoing cost savings were worth realising. Perhaps not so obvious is that in addition to significantly reduced income, even when we were allowed to reopen strict restrictions on our operating procedures from the UK Government and our governing body British Gymnastics, involved increased operating costs and reduced efficiencies. By way of several examples our Page 2 **ARABIAN SCHOOL OF GYMNASTICS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021** allowed coach to gymnast ratios halved resulting in a doubling of our coaching costs. We also need to purchase significant quantities of cleaning products/equipment and barriers/signage to ensure Covid-19 compliance and were restricted to the total numbers we could accommodate in the gym at any one time. For obvious reasons we were also not allowed to run any of our usual Baby Gym facilities or fund-raising events, traditionally a reliable source of adhoc income for us. Historically we have run at least two fund-raising competitions per year, including our annual club championships, and these was not permitted. For all the reasons above, as well as the general backdrop of uncertainty, our member numbers significantly declined during our closure periods, through the first closure many gymnasts maintained a level of fitness and came back when we reopened. The second closure then put them back in terms of progress and many simply got out of the habit or decided to pursue other interests. Unfortunately, and despite running a comprehensive and regular programme of remote online ‘Zoom’ training sessions and online events and competitions for all abilities and communicating/consulting regularly with our members on the specific activities we were undertaking to run the gym in a Covid-19 safe and compliant manner ultimately, we still lost over 40% of our gymnasts. On the positive side, at the start of the financial year we moved from an Excel based manual system for recording our membership to an automated system (Class4Kids – ‘C4K’). Although in many ways although C4K didn’t achieve everything we needed, it did allow us to take on new members and collect fees with significantly reduced administration. Given the cost reductions resulted in no dedicated finance or administration back-office staff, the successful implementation of this system was critical in facilitating new gymnasts into the club and collecting subscriptions accurately. Our key objectives for the back end of the financial year were to make the club a Covid-19 safe environment whilst (continuing to) reducing all unnecessary costs and maximise our income by ensuring the club was easy for new members to join and timetabling classes to ensure our maximum capacity increased. The achievement of these objectives really paid dividends and within a small number of months, and almost complete focus, we very quickly increased our numbers back to pre-pandemic levels. Looking back on the financial year – it is fair to say that it has been extremely testing for all the reasons above. Nevertheless, Arabian is now significantly more efficient than ever before, both in terms of operational efficiency and reduced overheads. As importantly, we know that there wasn’t anything else we could have done to treat our staff and members more responsibly or professionally during very difficult times and we remain extremely grateful for their support. ## **Financial review** The Charity made a deficit of £66,391 during the 12 months to 30th June 2021 a decrease of £17,699 from the deficit last year. The main changes from the previous year were due to the following reasons: 1. The revenue reduced by £99,624. This was due to the Covid 19 pandemic and the country having several full lockdowns through out the year. 2. Costs decreased by £117,323 overall. However, within this there were several major increases and reductions. 3. The salaries have decreased by £48,642. This reflects the reduction of staff salaries due to closures and national lockdowns during the year. The aim is to have sufficient reserves to cover any unforeseeable occurrence of at least 3 months operating costs but preferable have more than that. Subscriptions and fees charged to gymnasts for coaching services accounted for the majority (58.5%) of funding in the period, an decrease from 81% in the prior year. This reflects the items 1, 2 and 3 in the section above. The balance of income constituted from Government grants for furlough paid to staff during closures. Due to the pandemic the following sources of income were not permitted, donations, sales of clothes, drinks and sweets, the club competitions or other fundraising activities. Page 3 **ARABIAN SCHOOL OF GYMNASTICS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021** The Charity does not employ a professional fund raiser, or commercial participator to raise funds. The charity does not approach individuals for funds, only accepting donations when offered by individuals who are all either workers for the charity or people who use it's services. The major fund raising is from our sponsors, competitions the Charity runs (we do have a raffle at the competitions), and occasionally from grant awarding charity bodies. We can confirm we have had no complaints from individuals or other bodies during the year. Any funds not required for immediate use are moved into Bank deposit accounts. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The charity does not plan on any major changes. The major management focus is on developing the apprentice and ensuring that both they and the Charity benefit from this. ## **Structure, governance and management** The association was established under a trust deed dated 25th November 2014 and is a registered charitable incorporated organisation No 1159361. The trustees who served during the year and up to the date of signature of the financial statements were: Mr K Gibbs (Resigned 31 January 2021) Mr G Howton Mrs J Thompson Mr A Clark Ms I Jones Under the charity’s Constitution, the organisation is governed by an Executive Committee of Members, some of whom are Trustees, advised by the Director of Coaching. Other staff and volunteers are invited to attend Committee meetings from time to time, on a non-voting basis. The Trustees serve for one year but may offer themselves for re-election at the Annual General Meeting. The Committee members are usually parents of gymnasts who are known to have an interest in the work of the charity. People with particular knowledge and experience are encouraged to serve on the Committee, as are those with sufficient time and energy to support the Directors and their colleagues. The charity has an Executive Committee of up to 9 members who meet at least 3 monthly and are responsible for the strategic direction and policy of ASG. The Committee has the power to co-opt up to 2 further members. At 30th June 2021 Arabian School of Gymnastics had 4 Trustees and 3 other Committee members from a variety of backgrounds. The nature of the charity is such that it is not necessary for specific training to be given to new Trustees. However they are given information about their responsibilities as Trustees by more experienced members of the Committee. ASG has a Child Protection Policy in place. Criminal Records’ Bureau checks are carried out on staff, volunteers and trustees. These checks are repeated every 3 years in accordance with statutory requirements. The charity’s website is police protected. Page 4 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021** The Committee continues to consider potential organisational, operational, financial and administrative/ systems risks to which the charity is exposed and to ensure that systems and strategies are in place to minimise those risks. Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ **Mr L Brooks** Date: 21/06/2022 Page 5 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2021** ## **Independent examiner's report to the Trustees of Arabian School of Gymnastics ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2021. ## **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** 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. Page 6 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021** 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: Elizabeth Newell BA(Hons) FCA MHA MacIntyre Hudson Chartered Accountants Moorgate House 201 Silbury Boulevard Milton Keynes MK9 1LZ Page 7 **ARABIAN SCHOOL OF GYMNASTICS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**110,657**
**-**
**-**
**-**
**59,112**
**169,769**
**141,665**
**94,495**
**236,160**
**(66,391)**
**115,007**
**48,616**|**Total**
**funds**
**2021**
**£**
**110,657**
**-**
**-**
**-**
**59,112**
**169,769**
**141,665**
**94,495**
**236,160**
**(66,391)**
**115,007**
**48,616**|_Total_
_funds_
_2020_
_£_
_205,910_
_20,359_
_12,670_
_1,492_
_28,847_
_269,278_
_197,274_
_156,094_
_353,368_
_(84,090)_
_199,097_
_115,007_| |---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 22 form part of these financial statements. Page 8 **ARABIAN SCHOOL OF GYMNASTICS** ## **BALANCE SHEET AS AT 30 JUNE 2021** |**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
15
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
16
Unrestricted funds
16
**Total funds**|**16,895**
**11,255**
**38,584**
**66,734**
**(35,062)**|**2021**
**£**
**61,692**
**61,692**
**31,672**
**93,364**
**(44,748)**
**48,616**
**48,616**
**-**
**48,616**
**48,616**|_15,274_
_1,620_
_96,698_
_113,592_
_(16,270)_|_2020_
_£_
_67,685_
_67,685_
_97,322_
_165,007_
_(50,000)_
_115,007_
_115,007_
_-_
_115,007_
_115,007_| |---|---|---|---|---| The financial statements were approved and authorised for issue by the Trustees on _________________________________________________ and signed on their behalf by: ## **Mr L Brooks** The notes on pages 10 to 22 form part of these financial statements. Page 9 **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **1. Charity information** Arabian School of Gymnastics is a charitable incorporated organisation. ## **2. Accounting policies** ## **2.1 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. Arabian School of Gymnastics meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **2.2 Going concern** At the time of approving the financial statements, the trustess have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. Page 10 **ARABIAN SCHOOL OF GYMNASTICS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **2. Accounting policies (continued)** ## **2.3 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. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## **2.4 Government grants** Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Tangible fixed assets and depreciation** Tangible fixed assets 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. Page 11 **ARABIAN SCHOOL OF GYMNASTICS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **2. Accounting policies (continued)** ## **2.6 Tangible fixed assets and depreciation (continued)** 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 basis: - Fixtures and fittings Straight line between 3% and 20% ## **2.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indiction that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any). Intagible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired. ## **2.8 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. ## **2.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **2.10 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.11 Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially meausured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transation is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Page 12 **ARABIAN SCHOOL OF GYMNASTICS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **2. Accounting policies (continued)** ## **2.12 Basic financial libailities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unles the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at a amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently meausured at amortised cost using the effective interest method. ## **2.13 Derecognition of financial liabilities** Financial liabilities are decrecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **2.14 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2.15 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2.16 Critical accounting estimates and judgements** In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **2.17 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. Investment income, gains and losses are allocated to the appropriate fund. Page 13 **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2021**
**£**
Donations and gifts
694
Membership fees
99,722
Government grants
10,241
110,657
_Unrestricted_
_funds_
_2020_
_£_
Donations and gifts
_2,517_
Membership fees
_203,393_
_205,910_|**Total**
**funds**
**2021**
**£**
**694**
**99,722**
**10,241**
**110,657**| |---|---| ||_Total_
_funds_
_2020_
_£_
_2,517_
_203,393_
_205,910_| ## **4. Income from charitable activities** |Sales within charitable activities
Other income
Subsistence|**Total**
**funds**
**2021**
**£**
**-**
**-**
**-**| |---|---| ||**-**| Page 14 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **4. Income from charitable activities (continued)** |Sales within charitable activities
Other income
Subsistence|_Unrestricted_
_funds_
_2020_
_£_
_7,768_
_9,704_
_2,887_
_20,359_|_Total_
_funds_
_2020_
_£_
_7,768_
_9,704_
_2,887_
_20,359_| |---|---|---| ## **5. Income from other trading activities Income from fundraising events** |Fundraising events
_Unrestricted_
_funds_
_2020_
_£_
Fundraising events
_12,670_|**Total**
**funds**
**2021**
**£**
**-**| |---|---| ||_Total_
_funds_
_2020_
_£_
_12,670_| Page 15 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **6. Investment income** |Interest receivable
Interest receivable
**Other incoming resources**

Government Furlough Scheme payments
Other income
Net gain on disposal of tangible fixed assets
Government Furlough Scheme payments|_Unrestricted_
_funds_
_2020_
_£_
_1,492_
**Unrestricted**
**funds**
**2021**
**£**
59,112
_Unrestricted_
_funds_
_2020_
_£_
_1,750_
_3,800_
_23,297_
_28,847_|**Total**
**funds**
**2021**
**£**
**-**| |---|---|---| |||_Total_
_funds_
_2020_
_£_
_1,492_
**Total**
**funds**
**2021**
**£**
**59,112**
_Total_
_funds_
_2020_
_£_
_1,750_
_3,800_
_23,297_
_28,847_| ## **7. Other incoming resources** Page 16 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **8. Analysis of expenditure by activities** |Direct costs
Direct costs|**Activities**
**undertaken**
**directly**
**2021**
**£**
94,495
_Activities_
_undertaken_
_directly_
_2020_
_£_
_156,094_|**Total**
**funds**
**2021**
**£**
**94,495**
_Total_
_funds_
_2020_
_£_
_156,094_| |---|---|---| Page 17 **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **8. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Depreciation
Purchases
Rent
Rates and water
Light & heat
Repairs & maintenance
Insurance
Legal & professional fees
Telephone
Other office costs
Gifts & entertainment
Printing, postage & stationery
Clothing and accessories
Redundancy costs
Management fees
Other interest payable and similar charges
Advertising|**Total**
**funds**
**2021**
**£**
**5,593**
**14,176**
**19,609**
**128**
**2,073**
**1,479**
**3,162**
**8,693**
**2,788**
**15,203**
**-**
**151**
**57**
**455**
**20,151**
**625**
**152**
**94,495**|_Total_
_funds_
_2020_
_£_
_6,628_
_16,322_
_33,289_
_2,412_
_1,412_
_7,085_
_5,061_
_4,291_
_3,043_
_12,107_
_2,936_
_2,334_
_24,706_
_22,179_
_10,333_
_1,589_
_367_
_156,094_| |---|---|---| ## **9. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2021**
**£**
**134,486**
**5,462**
**1,717**
**141,665**|_2020_
_£_
_184,760_
_9,399_
_3,115_| |---|---|---| |||_197,274_| Page 18 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **9. Staff costs (continued)** The average number of persons employed by the Charity during the year was as follows: ||**2021**|_2020_| |---|---|---| ||**No.**|_No._| |Employees|**18**|_21_| No employee received remuneration amounting to more than £60,000 in either year. ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ . During the year ended 30 June 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ . Page 19 ## **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** |**11.**
**Tangible fixed assets**
**Cost or valuation**
At 1 July 2020
At 30 June 2021
**Depreciation**
At 1 July 2020
Charge for the year
At 30 June 2021
**Net book value**
At 30 June 2021
_At 30 June 2020_
**12.**
**Stocks**
Finished goods and goods for resale
**13.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income|**2021**
**£**
**16,895**
**2021**
**£**
**542**
**10,713**
**11,255**|**Fixtures and**
**fittings**
**£**
**88,480**| |---|---|---| |||**88,480**| |||**20,795**
**5,993**| |||**26,788**| |||**61,692**| |||_67,685_| |||_2020_
_£_
_15,274_
_2020_
_£_
_-_
_1,620_
_1,620_| Page 20 **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **14. Creditors: Amounts falling due within one year** |Bank loans and overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2021**
**£**
**5,358**
**15,712**
**12,200**
**462**
**1,330**
**35,062**|_2020_
_£_
_-_
_1,963_
_13,042_
_465_
_800_| |---|---|---| |||_16,270_| ## **15. Creditors: Amounts falling due after more than one year** ||**2021**|_2020_| |---|---|---| ||**£**|_£_| |Bank loans|**44,748**|_50,000_| ## **16. Statement of funds** ## **Statement of funds - current year** |**Statement of funds - current year**||||| |---|---|---|---|---| |||||**Balance at**| ||**Balance at 1**|||**30 June**| ||**July 2020**|**Income**|**Expenditure**|**2021**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General Funds - all funds|**115,007**|**169,654**|**(236,045)**|**48,616**| Page 21 **ARABIAN SCHOOL OF GYMNASTICS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **17. Analysis of net assets between funds** ## **Current period** |**Unrestricted**
**funds**
**2021**
**£**
Tangible fixed assets
61,692
Current assets
66,734
Creditors due within one year
(35,062)
Creditors due in more than one year
(44,748)
**Total**
48,616|**Total**
**funds**
**2021**
**£**
**61,692**
**66,734**
**(35,062)**
**(44,748)**
**48,616**| |---|---| ## **Prior period** |Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_67,685_
_113,592_
_(16,270)_
_(50,000)_
_115,007_|_Total_
_funds_
_2020_
_£_
_67,685_
_113,592_
_(16,270)_
_(50,000)_
_115,007_| |---|---|---| Page 22