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2020-10-31-accounts

REGISTERED COMPANY NUMBER: 08664338 (England and Wales)
REGISTERED CHARITY NUMBER: 1168497

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 October 2020

for

Erewash Valley Gymnastics Club Ltd

Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Erewash Valley Gymnastics Club Ltd

Contents of the Financial Statements for the year ended 31 October 2020

Page Page Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 16
Detailed Statement of Financial Activities 17 to 18 
Erewash Valley Gymnastics Club Ltd

Report of the Trustees for the year ended 31 October 2020

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31October2020.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Thecharity'sobjectiveisthepromotionofcommunityparticipationinhealthyrecreationforthebenefit of
theinhabitantsofErewashandthesurroundingarea,bytheprovisionoffacilitiesandcoaching for
gymnastics.

Our Vision

WewanttomakeEVGCacentreofexcellenceforallabilitiesandtounlockeveryindividual's potential.
Tofacilitateadiverserangeofgymnasticsandsportingactivities.Wewanttobringthefunand benefits
of gymnastics to everyone in our community.

Public Benefit

ThetrusteesconfirmthattheyhavereferredtotheCharityCommissionguidanceonpublicbenefit and
meettheguidelinesthroughthecharity'saimandobjectivesandinplanningfutureactivitiesin the
provision of gymnastic activities.

EVGCoperatesovertwositesandweaimtoallowasmanydifferentpeopleandorganisationstouse the
facilities.Wewanttoencouragemorepeopletogetandremainactiveassportparticipationhas a
positive impact on health and wellbeing.

Ouraimistoprovidefitness,funandfriendshipatanaffordableprice,offeringplacestoallregardless of
age, ability or economic circumstances.

Tothisendweoffersessionsfromunder5'stotssessiontoadults,recreationallevelgymnasticsto an
elite squad training programme.

Wealsohaveadditionalfacilitiesofmeetingspacesandcaféareafororganisationsandindividuals to
meet and socialise which are open to all.

EVGCofferspacetoothersportsclubs,includingprovidingapermanenthometoalocalboxing club
(LEABC).

STRATEGIC REPORT

Achievement and performance

Charitable activities

Thecharity'smissionistooffergymnasticsforallbydeliveringarangeofdifferentopportunities to
participateinthegym.Theseinclude;Preschoolsession,agerelatedfunrecreationallevel gymnastics
sessionstosquadleveltraining,schoolholidayfundays,festivals,carnivalandexternal event
participation,internalbadgescheme,homeschoolsessions,children'sparties,freestyleandadults. We
adaptourofferregularlytoenableasmanyorganisationalandindividualstoparticipateanduse the
facility as possible.

EVGCoperates2sitesandwearecontinuingtoexpandanddevelopourbuilding,equipmentand session
to allow more people to participate.

Financial review

Financial position

Overallincomedecreasedfrom£542,182in2019to£487,559in2020.TheimpactofCovidonthe club
reducedincomelevelswhichwerepredictedtoexceed2019levels.TheJobRetentionscheme provided
some relief with income of £85,635 and a local rates grant of £25,000 has also been received in the year.

Expenditure decreased during the year from £526,079 in 2019 to £490,2859 in 2020.

Despitethesignificantlyreducedtradingincome,thecharitymadeasmalldeficitof£2,726 (2019:
surplus of £16,103) for the year to 31st October 2020.

Page 1

Erewash Valley Gymnastics Club Ltd

Report of the Trustees for the year ended 31 October 2020

STRATEGIC REPORT

Financial review

Reserves policy

Thecharityhasapolicyforitsreservesthatwetargettoholdenoughcashreservesfortwomonth fixed
runningcostsandspecifictargetsfortheEVGCexpansionprojectandforcyclicalreplacement of
gymnastics kit.

Coverrunningcostsandunforeseenemergency-IncomeisseasonalandcandropoffinJuly and
Decembersotosupporttheoperationalrequirementofseasonalityweaimtohave2monthsfixed costs
as a reserve.

Equipmentreplacementcosts-Gymnasticsequipmentiscostlyandrequiresacyclical replacement
program-EVGCwilllooktoplace£1,000permonthfromincomeintoreservestofacilitate this
replacementinthecomingyear(therewillbeexpenditurealsoinyear)withaviewtocontinuingto build
this pot to replace equipment as required.

As at 31 October 2020 the charity had unrestricted reserves of £200,202 (2019: £190,532).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.

The charity is governed by its Memorandum and Articles of Association dated 27 August 2013, and
amended by special resolution on 27 June 2016.

Recruitment and appointment of new trustees

The minimum number of directors shall be three but is not subject to any maximum.

Directors / Trustees are appointed by ordinary resolution either by:
Appointment by other Directors / Trustees
Appointment at an AGM

EVGCDirectors/Trusteesareusuallyrecruitedbylocaladvertisingandrecommendation,expression of
interests are submitted and these are voted on.

Organisational structure

ErewashValleyGymnasticsClubismanagedbyaBoardofDirectorswhoaretrusteestotheCharity. Our
Directorsarevolunteerswhogiveoftheirtimefreelytotheclub.Theirroleistodevelopthestrategy for
EVGC,ensuringcharityassetsaremanagedandtosupporttheclubmanagementteaminthe operational
management of the club.

EachDirectorhasaspecificareaoftheclubthattheysupportbasedontheskillstheybringtothe club
andeachareahasaleaddirectorandasupportdirector,thisismirroredintheclubwherethese areas
areassignedtothemanagementandfulltimestafftoensurewemaintainfocusonthekeyareas which
are:HR,Finance,H&S,Welfare,Classes,Fundraising,Businessplanning,Marketing,Insurance and
Community.

Directorsmeetonceamonthforanofficialboardmeetingbutoftengetinvolvedwitheventsand projects
running within the club.

EVGChasthreedirectorsandiscurrentlylookingtoexpandourboardwithotherlike-mindedpeople who
can expand our expertise within this niche business.

Day to day running of the charity is designated to the management team.

Induction and training of new trustees

The Directors / Trustees meet formally monthly.

Newtrusteesareencouragedtofamiliarisethemselveswithcharitylaws,thefinancialreportsofthe club
and to attend staff meetings and events to gain knowledge of the operational workings of the club.

Page 2

Erewash Valley Gymnastics Club Ltd

Report of the Trustees for the year ended 31 October 2020

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08664338 (England and Wales)

Registered Charity number

1168497

Registered office

Hallam Fields Road
Ilkeston
Derbyshire
DE7 4AZ

Trustees

Mrs M S Marshall
Mrs J Dulston (resigned 31.1.2021)
Mrs R C Harbey
Mrs K M Kearns

Company Secretary

Mrs R C Harbey

Independent Examiner

Douglas Perry
FCA
Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees, as
the company directors, on ............................................. and signed on the board's behalf by:

.......................................................
Mrs R C Harbey - Trustee

Page 3

Independent Examiner's Report to the Trustees of Erewash Valley Gymnastics Club Ltd

Independent examiner's report to the trustees of Erewash Valley Gymnastics Club Ltd ('the Company')

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 October 2020.

Responsibilities and basis of report

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b) of the 2011 Act.

Independent examiner's statement

Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalisted body.
IcanconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberof FCA
which is one of the listed bodies.

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin 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)). 

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

Douglas Perry
FCA
Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Date: .............................................

Page 4

Erewash Valley Gymnastics Club Ltd

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) for the year ended 31 October 2020

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,380
Charitable activities
5
General
315,582
Restricted
-
Other trading activities
3
15,137
Investment income
4
19
Other income
6
127,355
Total
460,473
EXPENDITURE ON
Raising funds
7
2,123
Charitable activities
8
General
448,680
Restricted
-
Total
450,803
NET INCOME/(EXPENDITURE)
9,670
RECONCILIATION OF FUNDS
Total funds brought forward
190,532
TOTAL FUNDS CARRIED FORWARD
200,202		 Restricted
fund
£
1
-
27,085
-
-
-
27,086
-
-
39,482
39,482
(12,396)
58,614
46,218		 2020
Total
funds
£
2,381
315,582
27,085
15,137
19
127,355
487,559
2,123
448,680
39,482
490,285
(2,726)
249,146
246,420		 2019
Total
funds
£
37,264
433,423
109
37,637
51
33,698
542,182
13,670
499,903
12,506
526,079
16,103
233,043
249,146 
The notes form part of these financial statements

Page 5

Erewash Valley Gymnastics Club Ltd

Balance Sheet 31 October 2020

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
1,237,218
CURRENT ASSETS
Debtors
15
706
Cash at bank and in hand
5,179
5,885
CREDITORS
Amounts falling due within one year
16
(120,500)
NET CURRENT ASSETS
(114,615)
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,122,603
CREDITORS
Amounts falling due after more than one
year
17
(922,401)
NET ASSETS
200,202
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
49,023
-
50,000
50,000
(52,805)
(2,805)
46,218
-
46,218		 2020
Total
funds
£
1,286,241
706
55,179
55,885
(173,305)
(117,420)
1,168,821
(922,401)
246,420
200,202
46,218
246,420		 2019
Total
funds
£
1,203,113
507
105,665
106,172
(290,474)
(184,302)
1,018,811
(769,665)
249,146
190,532
58,614
249,146		 
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 October 2020.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................
M S Marshall - Trustee

The notes form part of these financial statements

Page 6

Erewash Valley Gymnastics Club Ltd

Cash Flow Statement for the year ended 31 October 2020

2020 2019
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (16,503) 199,413
Interest paid (4,819) (11,856)
Net cash (used in)/provided by operating activities (21,322) 187,557
Cash flows from investing activities
Purchase of tangible fixed assets (177,734) (595,625)
Net cash used in investing activities (177,734) (595,625)
Cash flows from financing activities
New loans in year 161,000 499,600
Loan repayments in year (19,196) (21,981)
Interest charged but not paid 6,766 -
Net cash provided by financing activities 148,570 477,619
Change in cash and cash
equivalents in the reporting period (50,486) 69,551
Cash and cash equivalents at the
beginning of the reporting period 105,665 36,114
Cash and cash equivalents at the
end of the reporting period 55,179 105,665 
The notes form part of these financial statements

Page 7

Erewash Valley Gymnastics Club Ltd

Notes to the Cash Flow Statement

for the year ended 31 October 2020

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net (expenditure)/income for the reporting period (as per
the Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 2020
£
(2,726)
94,606
4,819
(199)
(113,003)
(16,503)		 2019
£
16,103
54,107
11,856
577
116,770
199,413

2. ANALYSIS OF CHANGES IN NET DEBT

At 1.11.19 Cash flow At 31.10.20
£ £ £
Net cash
Cash at bank and in hand 105,665 (50,486) 55,179
105,665 (50,486) 55,179
Debt
Debts falling due within 1 year (100,595) 4,166 (96,429)
Debts falling due after 1 year (769,665) (152,736) (922,401)
(870,260) (148,570) (1,018,830)
Total (764,595) (199,056) (963,651) 
The notes form part of these financial statements

Page 8

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements for the year ended 31 October 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statements have been prepared under the historical cost convention.

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.

Freehold property- 2% of cost or valuation
Fixtures and fittings- 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

Hire purchase and leasing commitments

RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitieson a
straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in
the period to which they relate.

Company status

Thecharityisacompanylimitedbyguarantee.Intheeventofthecompanybeingwoundup, the
liability of each member is limited to £10 as defined by the articles of association.

continued...

Page 9

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

2.
DONATIONS AND LEGACIES
Donations
3.
OTHER TRADING ACTIVITIES
Fundraising events
Shop income
4.
INVESTMENT INCOME
Interest Received
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fees
General
Donated services &
facilities
General
Room hire
General
Awards
General
Grants
General
Grants
Restricted
6.
OTHER INCOME
Other Income
HMRC - Furlough scheme
Business grant
Sport England		 2020
£
2,381
2020
£
8,636
6,501
15,137
2020
£
19
2020
£
265,092
29,455
9,025
1,788
10,222
27,085
342,667
2020
£
9,720
85,635
25,000
7,000
127,355		 2019
£
37,264
2019
£
20,004
17,633
37,637
2019
£
51
2019
£
376,406
41,823
12,513
2,431
250
109		 2019
£
37,264		 2019
£
37,264
2019
£
20,004
17,633
37,637
2019
£
51
433,532
2019
£
33,698
-
-
-
33,698 
Duringtheyear,theCharityreceivedthefollowinggovernmentsupportgrantsduetothe Covid-19
pandemic:

TheCharityalsoreceived£85,636intheyearfromHMRCaspartofthegovernment furlough
scheme.

continued...

Page 10

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

7. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
2020 2019
£ £
Fundraising 2,123 13,670

8. CHARITABLE ACTIVITIES COSTS

General
Restricted
SUPPORT COSTS
General
Restricted		 Finance
£
4,731
-
4,731		 Direct
Costs
£
385,414
-
385,414
Other
£
55,124
39,482
94,606		 Support
costs (see
note 9)
£
63,266
39,482
102,748
Governance
costs
£
3,411
-
3,411		 Totals
£
448,680
39,482
488,162
Totals
£
63,266
39,482
102,748

9. SUPPORT COSTS

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):
2020 2019
£ £
Accountancy - Independent examination review 2,411 3,184
Depreciation - owned assets 94,606 54,108
Other operating leases 15,210 20,280

11. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31October2020nor for
the year ended 31 October 2019.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31October2020norfortheyear ended
31 October 2019.

continued...

Page 11

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2020
£
253,196
24,281
15,331
292,808		 2019
£
263,499
9,053
11,640
284,192 
The average monthly number of employees during the year was as follows:

Employees
2020 2019
45 29 
No employees received emoluments in excess of £60,000.

Keymanagementpersonnelcomprisethetrustees,theHeadCoachand3teamleaders.The total
employee benefits of the key personnel of the charity were £76,868 (2019 £70,509).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
37,264
Charitable activities
General
433,423
Restricted
-
Other trading activities
37,637
Investment income
51
Other income
33,698
Total
542,073
EXPENDITURE ON
Raising funds
13,670
Charitable activities
General
499,903
Restricted
-
Total
513,573
NET INCOME/(EXPENDITURE)
28,500
Transfers between funds
(12,397)
Net movement in funds
16,103
RECONCILIATION OF FUNDS
Total funds brought forward
174,429
TOTAL FUNDS CARRIED FORWARD
190,532		 Restricted
fund
£
-
-
109
-
-
-
109
-
-
12,506
12,506
(12,397)
12,397
-
58,614
58,614		 Total
funds
£
37,264
433,423
109
37,637
51
33,698
542,182
13,670
499,903
12,506
526,079
16,103
-
16,103
233,043
249,146 
continued...

Page 12

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

14. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1 November 2019
1,186,150
Additions
175,153
At 31 October 2020
1,361,303
DEPRECIATION
At 1 November 2019
108,798
Charge for year
45,169
At 31 October 2020
153,967
NET BOOK VALUE
At 31 October 2020
1,207,336
At 31 October 2019
1,077,352
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Loans and overdrafts (see note 18)
Other loans (see note 18)
Trade creditors
Social security and other taxes
Accruals and deferred income		 Fixtures
and
fittings
£
160,900
2,581
163,481
35,139
49,437
84,576
78,905
125,761
2020
£
210
496
706
2020
£
8,433
87,996
12,219
4,423
60,234
173,305		 Totals
£
1,347,050
177,734		 Totals
£
1,347,050
177,734		 Totals
£
1,347,050
177,734
1,524,784
143,937
94,606
238,543
1,286,241
1,203,113
2019
£
47
460
507
2019
£
8,599
91,996
147,937
7,893
34,049		 2019
£
47
460
507
290,474 
continued...

Page 13

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Loans (see note 18)
Other loans (see note 18)
18.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Loans
Other loans
Amounts falling between one and two years:
Loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Loans - 2-5 years
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
19.
SECURED DEBTS
The following secured debts are included within creditors:
Mortgage		 2020
£
227,675
694,726
922,401
2020
£
8,433
87,996
96,429
8,865
42,951
51,816
29,409
651,775
681,184
189,401
2020
£
235,895		 2019
£
224,060
545,605
769,665
2019
£
8,599
91,996
100,595
9,039
42,951
51,990
29,986
502,654
532,640
185,035
2019
£
232,659		 
AllmoniesdueortobecomeduefromErewashValleyGymnasticsClubLimitedtoCity Trustees
Limited&RobertDavidHarbeyastrusteesforRobertDavidHarbey(CPP)aresecuredbya charge
dated26August2016overlandonthenorthsideofHallamFieldsRoad,Ilkeston,DE7 4AZ
registered under title number DY505018.

continued...

Page 14

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

20. MOVEMENT IN FUNDS

At
1.11.19
£
Unrestricted funds
General fund
190,532
Restricted funds
Restricted Fund
58,614
TOTAL FUNDS
249,146
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
460,473
Restricted funds
Restricted Fund
27,086
TOTAL FUNDS
487,559		 Net
movement
in funds
£
9,670
(12,396)
(2,726)
Resources
expended
£
(450,803)
(39,482)
(490,285)		 At
31.10.20
£
200,202
46,218
246,420
Movement
in funds
£
9,670
(12,396)
(2,726)

Comparatives for movement in funds

At
1.11.18
£
Unrestricted funds
General fund
174,429
Restricted funds
Restricted Fund
58,614
TOTAL FUNDS
233,043
Comparative net movement in funds, included in the above
Unrestricted funds
General fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 Net
Transfers
movement
between
in funds
funds
£
£
28,500
(12,397)
(12,397)
12,397
16,103
-
are as follows:
Incoming
Resources
resources
expended
£
£
542,073
(513,573)
109
(12,506)
542,182
(526,079)		 At
31.10.19
£
190,532
58,614
249,146
Movement
in funds
£
28,500
(12,397)
16,103		 
continued...

Page 15

Erewash Valley Gymnastics Club Ltd

Notes to the Financial Statements - continued for the year ended 31 October 2020

20. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 At
1.11.18
£
174,429
58,614
233,043		 Net
movement
in funds
£
38,170
(24,793)
13,377		 Transfers
between
funds
£
(12,397)
12,397
-		 At
31.10.20
£
200,202
46,218
246,420 
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,002,546
(964,376)
Restricted funds
Restricted Fund
27,195
(51,988)
TOTAL FUNDS
1,029,741
(1,016,364)		 Movement
in funds
£
38,170
(24,793)
13,377

21. RELATED PARTY DISCLOSURES

EmployeesMissHandMissEMarshallarethedaughtersoftrusteeMrsMMarshall.They received
no remuneration during the year (2019 £5,545).

EmployeeMrsHVickersisthedaughteroftrusteeMrsJDulston.Shewaspaid remuneration
totalling £12,280 (2019 £22,199) during the year.

EmployeeMissHGibbsisthedaughteroftrusteeMrsKKearns.Shewaspaid remuneration
totalling £17,013 (2019 £22,393) during the year.

EmployeesMrHHarbeyandBWHarbeyarethesonsoftrusteeMrsRHarbey.Theywere paid
remuneration totalling £7,975 (2019 £5,958) during the year.

Interest free loans outstanding to trustees at the 31st October 2019 are:

Mrs M Marshall             £14,000 (2019 £15,000)
Mrs R Harbey               £32,000 (2019 £35,000)

ThroughtheTrusteesoftheCityPensionRobertDavidHarbeyScheme,MrHarbeyprovided the
charitywithamortgagetobuypremisesinIlkestonin2016.Thismortgageisona commercial
basiswithinterestof5%beingcharged.Asat31October2020thecharityowed£235,895to the
pension scheme.

Duringtheyear,MRHarbeyprovidedadditionalloanstothecharityunderthesame commercial
basisaspreviousloans,withinterestat5%attachedtotheborrowings.Asat31October2020 the
total amount owed to MR R Harbey and associated parties was £680,332.

Page 16

Erewash Valley Gymnastics Club Ltd

Detailed Statement of Financial Activities

for the year ended 31 October 2020

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Fundraising events
Shop income
Investment income
Interest Received
Charitable activities
Fees
Donated services & facilities
Room hire
Awards
Grants
Other income
Other Income
HMRC - Furlough scheme
Business grant
Sport England
Total incoming resources
EXPENDITURE
Raising donations and legacies
Fundraising
Charitable activities
Wages
Social security
Pensions
Rent
Rates and water
Insurance
Light and heat
Telephone
Sundries
Equipment
Clothing
Competitions
Training
Refreshments
Carried forward		 2020
£
2,381
8,636
6,501
15,137
19
265,092
29,455
9,025
1,788
37,307
342,667
9,720
85,635
25,000
7,000
127,355
487,559
2,123
253,196
24,281
15,331
15,210
4,845
3,240
14,553
2,043
17,458
-
4,241
1,722
2,511
6,082
364,713		 2019
£
37,264
20,004
17,633
37,637
51
376,406
41,823
12,513
2,431
359
433,532
33,698
-
-
-
33,698
542,182
13,670
263,499
9,053
11,640
20,280
10,846
3,259
23,146
1,715
32,056
843
7,185
19,221
8,657
10,043
421,443		 
This page does not form part of the statutory financial statements

Page 17

Erewash Valley Gymnastics Club Ltd

Detailed Statement of Financial Activities

for the year ended 31 October 2020

Detailed Statement of Financial Activities
for the year ended 31 October 2020
Charitable activities
Brought forward
Computer costs
Travel
Property repairs
Mortgage
Support costs
Finance
Bank charges
Other
Depreciation of tangible fixed assets
Governance costs
Accountancy - Independent examination
review
Payroll services
Total resources expended
Net (expenditure)/income		 2020
£
364,713
1,960
411
6,745
11,585
385,414
4,731
94,606
2,411
1,000
3,411
490,285
(2,726)		 2019
£
421,443
2,561
914
12,477
11,856
449,251
5,867
54,107
3,184
-
3,184
526,079
16,103 
This page does not form part of the statutory financial statements

Page 18