2021-07-31-accounts - Pegasus Gymnastics Club Limited

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			Page
Report ofthe Trustees		1	to	4
Indcpcndcnt Examiner's	Rcport
Statement ofFinancial	Activities
Balance Sheet		7	to	8
Cash Flow Statement
Notes to the Cash Flow	Statement		10
Notes to thc Financial	Statcmcnts	11	to	22

								2021	2020
						Unrestricted	Restricted	Total	Total
					Notes	funds	funcaf	funds	funds
INCOME AND ENDOWMENTS				FROM
Donations and legacies						208,220	3,200	211,420	110,337
I'haritable activities
Memberships						37,486		3',486	51,029
Gcncral classes						322,087		322,087	400,617
Merchandise sales						2,449		2,449	15,418
Gymnastics squad	fees		and event income			56,799		56,799	98,509
Investment income						72		72	367
Total						627,113	3,200	630,313	676,277
EXPENDITURE	ON
Raising funds
Raising donations	and		legacies		6	4505		4 505	5599
						4,505		4,505	5,599
Charitable activities
Charitable activities						578,503	2,226	580,729	738,164
Other						6 783	415	7 198	22 738
Total						589,791	2,641	592,432	766,501
NET INCOME/(EXPENDITURE)						37,322	559	37,881	(90424)
RECONCILIATION			OF FUNDS
Total funds brought		forward				191,554	3,394	194,948	285,172
TOTAL FUNDS	CARRIED FORWARD					228 876	3 953	232 829	194948

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes		E	6
FIXEDASSETS
Tangible assets	13	63,601	413	64,014	70,170
CURRENT ASSETS
Stocks	14	200		200	200
Debtors	15	58.580		58,580	18,289
Cash at bank and in hand		260,876	3 540	~264 416	279,803
		319,656	3,540	323,196	298,292
CREDITORS
Amounts falling due within one year	16	(111,881)		(111,881)	(173,514)
NET CURRENT ASSETS		207 775	~3 540	211315	124778
TOTAL ASSETSLESSCURRENT
LIABILITIES		271,376	3,953	275,329	194,948
CREDITORS
Amounts fall mg due atter more than one year	17	(42,500)		(42,500)
NET ASSETS		228 876	3 953	232 829	194948
FUNDS
Ilnrcstricted funds Restricted funds				228,876 ~3953	191,554 3,394
TOTAL FUNDS				232 829	194948

				2021	2020
			Notes
Cash flows from operating	activities
Cash generated from operations Interest paid				(64,417) ~1042	37,189
Net cash (used in)/provided	by	operating	activities	65 459	37 189
Cash flows from investing	activities
Interest received				72	367
Nct cash provided by investing		activities		72	367
Cash flows from financin	activities
New loans in year				50000
Net cash provided by financing		activities		60000
Change in cash and cash equivalents			in
the reporting period				(15,387)	37,556
Cash and cash equivalents	at	the
begianing ofthe reporting	period			279,803	242 247
Cash and cash equivalents	at	the end	of
the reporting period				264 416	279 803

								2021	2020
								f
Net income/(expenditure)			for the reporting		period (as per the
Statement ofFinancial			Activities)					37,881	(90,224)
Adjustments	for:
Deprectatton	charges							o, i56	22,738
Interest received								(72)	(367)
Interest paid								1,042
(Increase)/decrease in debtors								(40,291)	40,429
(Decrease)/increase in creditors								~69 133)	64 613
Net cash (used in)/provided				by operations				64417	37.189
ANALYSIS	OF CHANGES			IN NET FUNDS
						At	1 8.20	Cash tlow	At 31.7 21
								f.
Net cash Cash at bank	and in hand						279 803 279 803	~(5 387) ~15,387)	264 416 264 416
Debt
Debts falling Debts fallmg Total	dnc within dne atter	1	1 year year				279 803	(7,500) ~42 500) ~50,000) ~65 387)	(7,500) ~42 500) ~50000) 214416

								2021	2020
Donations								23,732	5,027
Grants								187688	105310
								211420	110337
Grants received, included				in	the above, are as follows:
								2021	2020
Men's Artistic Development					Grant			2,000
Government	grants	including			the Job Retention		Scheme	184,488	102,744
Coaching Development				Grant					2,566
Artistic Development			Grant					500
COVID-19	Cleaning	Grant						700
								187688	105310
INVESTMENT IINCOMli
								2021	2020
Interest receivable								72	367
INCOME	FROM CHARITASLE					ACTIVITIES
								2021	2020
						Activity
Membership	fees					Memberships		37,486	51,029
Class fees						General classes		322,087	400,617
K&t sales Squad fees	and event		income			Merchandise Gymnastics	sales squad fees and event income	2,449 ~56799	15,418 98,509
								418 821	565 573

RAISING	DON	ATIO	NS AND LEGACIES
							2021	2020
Support costs							4505	5 599
CHARITABLE		ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs	note 83	Totals
Charitable	activities					495 166	85 563	580 729
SUPPORT	COSTS
						Management f	Finance	Totals
Raismg donations and Charitable activities			legacies			4,440 ~84 336	65 ~1227	4,505 ~85 563
						88 776	I 292	90068
Support costs, included			in the above, are as follows
							2021	2020
				Raising
				donations
				and		Charitable	Total	Total
				legaciesf		activities f	activities f	activities
Wages				3,671		69,750	73,421	84,718
Social security				184		3,487	3,671	3,549
Pensions					66	1,241	1,307	1,448
Telephone					53	1,007	1,060	1,488
Office costs				142		2,696i	2,838	11,209
Sundries					9	170	179	108
Independent	examiners		fees	315		5,985	6,300	6,120
Bank charges				65 ~4 505		1,227 ~85 563	1,292 90068	3 380 ~112020

			2021	2020
Depreciation	- owned assets		6,)S6	22,738
lndcpcndcnt	cxammcr's	fi:cs	6300	6 120

STAFF COST	S
					2021	2020
Wages and salanes					355,778	417,597
Social security	costs				20,463	25,439
Other pension	costs				8 981	9393
					385222	452 429
The average monthly		number ofetnployees	during	the year was as follov, s:
					2021	2020
Administrative	employee				7	8
Coaches					22	26
					29	34

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
			f.		f
INCOME AND ENDOWMENTS FROM
Donations and legacies			107,771	2,566	110,337
t'haritable activities
Memberships			51,029		51,029
General classes			400,617		400,617
Merchandise sales			15,418		15,418
Gymnastics squad fees		and event income	98,509		98,509
Investment income			367		367
Total			673,711	2,566	676,277
EXPENDITURE ON
Raising funds Raising donations and		lcgacics	~5599		~5599
			5,599		5499
Charitable activities
Charitable activities			738.164		738,164
Other			22 323	415	22 738
Total			766,086	415	766,501
NET INCOME/(EXPENDITURE)			(92,375)	2,151	(90,224)
RECONCILIATION		OF FUNDS
Total funds brought	forward		283,929	1,243	285,172
TOTAL FUNDS CARRIED FORWARD			Irjl 554	~3394	194948

TANGIBLE FIXEDAS	SETS
		Improvements
		to	Gymnastics
		property	equipment	Totals
			f.
COST
At 1stAugust 2020 and 31st July 2021		96,855	86416	183271
DEPRECIATION
At 1stAugust 2020 Charge for year		28,197 ~5457	84,904 699	113,101 6,156
At 31stJuly 2021		33654	85 603	119257
NET BOOK VALUE
At 31stJuly 2021		~63 201	813	~64 014
At 31st July 2020		68658	I 512	70 170
STOCKS
			2021	2020
Stocks			200	200
DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2021	2020
Trade debtors Other debtors			46,787 ~tl 793	6,226 ~12063
			~58580	~18289
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2021	2020
Bank loans and overdrafts	lsee note 18)		7,500
Social security and other	taxes		6,286	5,751
Other creditors			21,467	93,005
Deferred income			70,528	68.658
Accrued expenses			6 100	6 100
			111881	173514

CREDITORS: AMOUNTS		FALLING DUE AFTER MORE	THAN ONE YEAR
				2021	2020
Bank loans (see note 18)				42 500
LOANS
An analysis ofthe maturity of		loans is given below:
				2021	2020
Amounts falling due withm one year on demand: Bank loan less than one year				~7500
Amounts falling between one		and two years:
Bank loans —1-2years				10000
Amounts falling due between		two and five years:
Bank loans —2-5 years				30000
Amounts falling due in more	than five years.
Repayable by instalments:
Bank loans more 5 yr by instal				2,500
MOVEMENT IN FUNDS
				Net
				movement	At
			At 1.8.20	m funds	31.7.21
				f,
Unrestricted funds
General fund			191,554	37,322	228,	876
Restricted funds
Children in Need Grant			828	(415)		413
Coaching Development Grant			2,566	(1,526)	1,040
Artistic Development Grant Men's Artistic Development	Grant			500 2 000	500 ~2000
			3 394	559	3,953
TOTAL FUNDS			~194948	37 881	~232	829

				Incoming	Resources	Movement
				resources	expended	in funds
Unrestricted funds
General fund				627,113	(589,791)	37,322
Restricted funds
Chtldren in Need Grant					(415)	(415)
Coaching Dcvclopmcnt		Grant			(1,526)	(1,526)
Artistic Development		Grant		500		500
Men's Artistic Development			Clrant	2,000		2,000
COVID-19 Cleaning	Grant			700 ~3200	~2641)	559
TOTAL FUNDS				630313	592 432	37 881
Comparatives for movement			in funds
					Net
					movement	At
				At 1.8.19	in funds	31 7.20
Unrestricted funds
General fund				283,929	(92,375)	191,554
Restricted funds
Chtldrcn in Nccd Grant Coaching Development Grant				1,243	(415) ~2566	828 2,566
				1 243	2 151	3 394
TOTAL FUNDS				285.172	~90224)	194948

						Incoming	Resources	Movement
						resources	expended	in funds
Unrestricted funds
General	fund					673,711	(766,086)	(92,375)
Restricted funds
Chtldren Coaching TOTAL	in Need Grant Dcvclopmcnt FUNDS	Grant				2.566 ~2566 ~676 277	(415) ~415) 766 501	(415) ~2566 2 151 ~90224)
A current	year 12 months	and prior year 12 months		combined	position	is as follows:
							Net
							movement	At
						At 1.8.19	tn funds	31.7.21
							f,
Unrestricted funds
General	fund					283,929	(55,053)	228,876
Restricted funds
Children	in Need Grant					1.243	(830)	413
Coaching	Development	Grant					1,040	1,040
Artistic Development Grant Men's Artistic Development			Grant			~1243	500 2 000 ~2710	500 ~2000 3,953
TOTAL	FUNDS					285 172	52 343	232 829

				Incoming	Resources	Movement
				resources	expended	in funds
Unrestricted funds
General fund				1,300,824	(1,355,877)	(55,053)
Restricted funds
Chtldren in Need Grant					(830)	(830)
Coaching Dcvclopmcnt		Grant		2.566	(1,526)	1,040
Artistic Development		Grant		500		500
Men's Artistic Development			Crrant	2,000		2,000
COVID-19 Cleaning TOTAL FUNDS	Grant			700 ~5766 1 306 590	~3056) 1 358933	2,710 ~52 343)