REGISTERED CHARITY NUMBER: 1169065
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
FOR
VISTA TWISTERS
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
VISTA TWISTERS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
VISTA TWISTERS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2020
TRUSTEES D J Harcourt (Chairman) Ms S L Kemp (Programme Coordinator) L Hand C Andersen
PRINCIPAL ADDRESS C/O 32 Peak Drive Eastry SANDWICH Kent CT13 0DZ REGISTERED CHARITY 1169065 NUMBER INDEPENDENT EXAMINER McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
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VISTA TWISTERS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
The trustees present their report with the financial statements of the charity for the year ended 31 July 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).
Vista Twisters formed as a Charitable Incorporated Organisation (CIO) on 6 September 2016 and started operating on 12 October 2016 when the assets of Vista Twisters, a club, were transferred to it. This is the third full year of operation for the CIO.
OBJECTIVES AND ACTIVITIES
Objectives and aims
To provide and promote community participation in healthy recreation by providing facilities and coaching for the sport of cheerleading and related gymnastics activities.
Significant activities
Vista Twisters offers sporting and recreational activities, from pre-school to adult, that by their nature contribute to improving physical and mental health. Being part of a well governed and administered voluntary club, that promotes teamwork and togetherness, also provides many social benefits to everyone who gets involved. The club continues to maintain a very high profile in the local community as an excellent grass roots sports club that has achieved elite status as a result of regional and national competitive success. In non-restricted times the club also supports local fetes and events, carnivals and delivers activities in schools throughout the South East.
Public benefit
Comprehensive development plans and business performance monitoring helps the CIO deliver a diverse programme that is accessible and inclusive. Pathways exist to take pre-school children from play to sports performance at the highest levels. The progression and development of the CIO has led to the conversion of a redundant factory into a public sports facility for the entire community. Documented and reviewed business plans, policies and procedures exist to ensure the organisation and its trustees have full regard to public benefit.
Staff and volunteers
The previous report refers to the CIO employing a contractor to take forward a project to secure a building that would become the home of the CIO. In October 2019 the CIO signed a 15-year lease for a unit in Dover (Unit 2 Hollow Wood Road, Dover, Kent CT17 0UB) now known as The Base.
A 3-year service agreement commenced in August 2020 with a professional contractor to oversee the development and operation of the building, drive programme growth and latterly manage the closure and relaunch as required. The performance of the service provider are monitored by the board of trustees and volunteers.
Additional volunteers have been recruited to assist with a variety of tasks within the new facility such as desk duties, cleaning, and maintenance. The developing programme also allows self-employed coaches to operate from the facility.
Subsidised coaching programmes have again been operated in schools in the region between November 2019 and February 2020, prior to the outbreak of the pandemic.
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VISTA TWISTERS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Moving into an independent facility, that required investment, meant the club had been reliant on a period of growth over 12-18 months. Growth that would enable the club to reach financial targets that could sustain the organisation. The demand for activities for the period between November 2019 and March 2020 was significant. The pandemic not only prevented growth from March 2020, but reduced income as athletes became fearful and disenfranchised, many leaving the club. Income was lost from external hire of our facilities, and we could not link with the many schools in the area that provided essential access to potential new athletes. New activities for pre-school children were curtailed and after expanding to 13 competing squads in 2019 the club had to scale down. Try-outs were not possible, and the programme was only able to deliver conditioning classes online.
The closedown of the sport of cheerleading has been devastating. All competitions and events cancelled (including competing in the World Championships in USA) and no sign of a return in 2020.
A return to play in July provided a brief opportunity to deliver some classes, however the tight restrictions on indoor team sports meant that the only activities on offer were conditioning and tumbling classes. Ongoing failings by Sport England and the Department of Culture Media and Sport, to ratify a return to play plan, hampered the relaunch of the club programme leading directly to even greater difficulties surviving the pandemic.
FINANCIAL REVIEW
Financial position
At 31 July 2020 the charity held unrestricted reserves of £99,815 (2019 - £90,411).
Reserves policy
The reserves policy of the charity has been adjusted to reflect the investment in developing the building and purchasing equipment, and the need to retain funds to help the CIO survive the loss of business over the pandemic period. It is also important to recognise that the club holds money on behalf of athletes and families to pay for competion entries and manage the process of attending events. These funds belong to the families, not VT, but are held in the club current account.
The club will pursue a range of options over the next period to give the organisation a chance to survive. This will include applying for grants, deferring rent and utility payments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a Charitable Incorporated Organisation. The charity has the benefits of limited company status without the requirement to file returns to Companies House.
Recruitment and appointment of new trustees
Trustee vacancies are advertised, and applicants must first pass a formal interview before being allocated a post. At every annual general meeting, one-third of the charity trustees shall retire from office. The trustees that have been longest in office since their appointment shall retire first. There will be no more than 12 trustees at any one time.
Approved by order of the board of trustees on 26 May 2021 and signed on its behalf by:
D J Harcourt - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VISTA TWISTERS
Independent examiner's report to the trustees of Vista Twisters
I report to the charity trustees on my examination of the accounts of Vista Twisters (the Trust) for the year ended 31 July 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
I D Pascall FCA McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
27 May 2021
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VISTA TWISTERS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Registration, coaching and competition fees 132,837 Uniform and associated costs 12,384 Total 145,221 EXPENDITURE ON Charitable activities Registration, coaching and competition fees 38,917 Uniform and associated costs 13,180 Operating costs 99,184 Total 151,281 NET INCOME/(EXPENDITURE) (6,060) Transfers between funds 10 15,464 Net movement in funds 9,404 RECONCILIATION OF FUNDS Total funds brought forward 90,411 TOTAL FUNDS CARRIED FORWARD 99,815 |
Restricted funds £ 13,361 - 13,361 11,479 - - 11,479 1,882 (15,464) (13,582) 14,950 1,368 |
2020 Total funds £ 146,198 12,384 158,582 50,396 13,180 99,184 162,760 (4,178) - (4,178) 105,361 101,183 |
2019 Total funds £ 131,167 22,208 153,375 87,189 22,675 12,001 121,865 31,510 - 31,510 73,851 105,361 |
|---|---|---|---|
The notes form part of these financial statements
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VISTA TWISTERS
BALANCE SHEET 31 JULY 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 47,572 CURRENT ASSETS Stocks 6 1,970 Debtors 7 59,695 Cash at bank 38,831 100,496 CREDITORS Amounts falling due within one year 8 (48,253) NET CURRENT ASSETS 52,243 TOTAL ASSETS LESS CURRENT LIABILITIES 99,815 NET ASSETS 99,815 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 6,801 22,455 29,256 (27,888) 1,368 1,368 1,368 |
2020 Total funds £ 47,572 1,970 66,496 61,286 129,752 (76,141) 53,611 101,183 101,183 99,815 1,368 101,183 |
2019 Total funds £ 741 520 4,773 101,991 107,284 (2,664) 104,620 105,361 105,361 90,411 14,950 105,361 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 May 2021 and were signed on its behalf by:
D J Harcourt - Trustee
The notes form part of these financial statements
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
1. STATUTORY INFORMATION
Vista Twisters is a Charitable Incorporated Organisation registered in England. The charity's registered number, principal address and nature of operations can be found in the Report of the Trustees and on page 1.
On 11 November 2019, the charity moved into a new premises at The Base, Unit 2, Hollow Wood Road, Dover, Kent, CT17 0UB.
The presentation currency of the financial statements is the Pound Sterling (£).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Going concern
No material uncertainties exist regarding the charity and on this basis the assessment of the trustees is that the charity is a going concern.
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.
In accordance with the SORP, no amounts have been included in these financial statements to reflect the value of services provided free of charge to the charity by volunteers.
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.
Equipment - 25% reducing balance Fixtures and fittings - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
continued...
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
2. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
3. TRUSTEES' REMUNERATION AND BENEFITS
During the year Ms S L Kemp received £100 (2019 - £180) for services as compere at the Kent School Games event.
Trustees' expenses
During the year no trustees were reimbursed for expenses (2019 - £nil).
4.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Registration, coaching and competition fees 114,278 Uniform and associated costs 22,208 Total 136,486 EXPENDITURE ON Charitable activities Registration, coaching and competition fees 85,632 Uniform and associated costs 22,675 Operating costs 12,001 Total 120,308 NET INCOME 16,178 Transfers between funds 382 Net movement in funds 16,560 RECONCILIATION OF FUNDS Total funds brought forward 73,851 TOTAL FUNDS CARRIED FORWARD 90,411 |
Restricted funds £ 16,889 - 16,889 1,557 - - 1,557 15,332 (382) 14,950 - 14,950 |
Total funds £ 131,167 22,208 153,375 87,189 22,675 12,001 121,865 31,510 - 31,510 73,851 105,361 |
|---|---|---|
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
5. TANGIBLE FIXED ASSETS
| Equipment £ COST At 1 August 2019 1,700 Additions 53,738 At 31 July 2020 55,438 DEPRECIATION At 1 August 2019 959 Charge for year 11,777 At 31 July 2020 12,736 NET BOOK VALUE At 31 July 2020 42,702 At 31 July 2019 741 6. STOCKS Stock of uniform and training wear 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Sundry debtors Prepayments and accrued income 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Income received in advance Accrued expenses and sundry creditors |
Fixtures and fittings £ - 6,493 6,493 - 1,623 1,623 4,870 - 2020 £ 1,970 2020 £ 37,536 28,960 66,496 2020 £ 53,053 23,088 76,141 |
Totals £ 1,700 60,231 61,931 959 13,400 14,359 47,572 741 2019 £ 520 2019 £ - 4,773 4,773 2019 £ 1,199 1,465 2,664 |
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
9. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years In more than five years |
2020 £ 45,600 182,400 418,000 646,000 |
2019 £ - - - - |
|---|---|---|
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds KCC Grant Aviva Grant Kent Trust for Youth Sport Grant Kent Community Foundation Grant World Championships TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund Restricted funds KCC Grant World Championships TOTAL FUNDS |
At 1.8.19 £ 90,411 - 9,990 960 4,000 - 14,950 105,361 s follows: |
Net movement in funds £ (6,060) 514 - - - 1,368 1,882 (4,178) Incoming resources £ 145,221 2,189 11,172 13,361 158,582 |
Transfers between At funds 31.7.20 £ £ 15,464 99,815 (514) - (9,990) - (960) - (4,000) - - 1,368 (15,464) 1,368 - 101,183 Resources Movemen expended in funds £ £ (151,281) (6,060) (1,675) 514 (9,804) 1,368 (11,479) 1,882 (162,760) (4,178) |
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.8.18 in funds £ £ Unrestricted funds General fund 73,851 16,178 Restricted funds KCC Grant - 382 Aviva Grant - 9,990 Kent Trust for Youth Sport Grant - 960 Kent Community Foundation Grant - 4,000 - 15,332 TOTAL FUNDS 73,851 31,510 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,486 Restricted funds KCC Grant 1,939 Aviva Grant 9,990 Kent Trust for Youth Sport Grant 960 Kent Community Foundation Grant 4,000 16,889 TOTAL FUNDS 153,375 |
Transfers between At funds 31.7.19 £ £ 382 90,411 (382) - - 9,990 - 960 - 4,000 (382) 14,950 - 105,361 Resources Movement expended in funds £ £ (120,308) 16,178 (1,557) 382 - 9,990 - 960 - 4,000 (1,557) 15,332 (121,865) 31,510 |
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
10. 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 KCC Grant Aviva Grant Kent Trust for Youth Sport Grant Kent Community Foundation Grant World Championships TOTAL FUNDS |
At 1.8.18 £ 73,851 - - - - - - 73,851 |
Net movement in funds £ 10,118 896 9,990 960 4,000 1,368 17,214 27,332 |
Transfers between funds £ 15,846 (896) (9,990) (960) (4,000) - (15,846) - |
At 31.7.20 £ 99,815 - - - - 1,368 1,368 101,183 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds KCC Grant Aviva Grant Kent Trust for Youth Sport Grant Kent Community Foundation Grant World Championships TOTAL FUNDS |
Incoming resources £ 281,707 4,128 9,990 960 4,000 11,172 30,250 311,957 |
Resources Movemen expended in funds £ £ (271,589) 10,118 (3,232) 896 - 9,990 - 960 - 4,000 (9,804) 1,368 (13,036) 17,214 (284,625) 27,332 |
|---|---|---|
KCC Grant: This is school satellite funding provided by Kent County Council and enables Vista Twisters to run after school cheerleading clubs in specific schools. Funding is allocated to pay for coaches to deliver sessions in school and also to support coach development/training and some travel expenses. The aim of the scheme is to introduce the sport and encourage the school to run clubs themselves, linked to Vista Twisters. Children can also access the community sessions provided by the club as a direct result of these sessions.
The charity's accounting policy is not to attribute a value to volunteer coaches. Because the school sessions were mostly delivered by volunteer coaches an accounting "surplus" has arisen which is not repayable to KCC and it has, therefore, been transferred to unrestricted funds.
Aviva Community Fund Grant: £9,990 was received from Aviva Community Fund to help fund the electrical services in the renovation of Vista Twisters new premises, The Base, from an empty factory into a usable facility.
Kent Trust for Youth Sport Grant: £960 was received from Kent Trust for Youth Sport to purchase tumbling equipment to be used by under 21's.
continued...
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
10. MOVEMENT IN FUNDS - continued
Kent Community Foundation Grant: £4,000 was received from Kent Community Foundation to help fund the new floor system in Vista Twisters new premises, The Base.
World Championships: Two teams qualified for the World Championships in Florida with the trip being funded through athlete contributions and fundraising. The funds received are to be spent on competition costs which include travel, accommodation and uniforms.
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2020.
12. WORLD CHAMPIONSHIPS
Two Vista Twister teams qualified for the World Championships in Florida which were due to take place in April 2020. Fundraising for the trip started in August 2019 and the athletes began their contributions in October 2019. Unfortunately, due to COVID-19 the trip was cancelled three weeks before the teams were due to travel. Vista Twisters decided to hold the athletes contributions and fundraising amounts with the aim of being able to compete in future. An amount of £27,888 is therefore included within income received in advance, £19,867 of athlete contributions and £8,021 of fundraising. These amounts do not include contributions received of £9,875 for uniform which are non-refundable to the athletes.
Vista Twisters received refunds for most of the costs incurred, including the accommodation, car hire and entry fees. Included within debtors is an amount of £1,614 due to Vista Twisters for the car hire which was received after the year end, £869 as a credit held on account for Fuel Athletic Training and £3,960 paid in advance for a villa for the next year.
13. GOVERNMENT GRANTS
During the year the club has received government grants due to the COVID-19 pandemic. The club received the Retail, Hospitality and Leisure grant, a compensatory grant to give immediate financial support to the club, and a sum of £25,000 has been credited to the statement of financial activities in the year.The club also received the Sport England Community Emergency Fund of £7,600 and a sum of £7,600 has been credited to the statement of financial activities in the year.
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VISTA TWISTERS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Charitable activities Registration fees 4,557 - Training fees 60,900 - Schools coaching - 2,189 Competitions 24,936 10,954 Grants and fundraising 35,852 218 Uniform and merchandise sales 13,834 - Hall hire 3,360 - Other income 1,782 - 145,221 13,361 Total incoming resources 145,221 13,361 EXPENDITURE Charitable activities Competition costs 25,955 9,804 Coaching costs 4,353 1,675 Training courses 1,145 - Uniform and merchandise 13,180 - Travel and accommodation 2,265 - Club events - - Hall hire 5,199 - 52,097 11,479 Operating costs Rent, rates and light and heat 43,000 - Building maintenance 6,140 - Insurance 843 - Telephone and broadband 495 - Stationery, printing and postage 140 - Sundry 700 - Independent examiner fees 1,932 - Legal and professional fees 1,284 - Management fees 31,250 - Equipment 11,777 - Fixtures and fittings 1,623 - 99,184 - Total resources expended 151,281 11,479 Net income (6,060) 1,882 |
2020 Total funds £ 4,557 60,900 2,189 35,890 36,070 13,834 3,360 1,782 158,582 158,582 35,759 6,028 1,145 13,180 2,265 - 5,199 63,576 43,000 6,140 843 495 140 700 1,932 1,284 31,250 11,777 1,623 99,184 162,760 (4,178) |
2019 Total funds £ 4,080 51,322 8,065 45,735 21,145 22,168 - 860 153,375 153,375 47,119 7,173 3,299 22,675 8,857 4,281 16,460 109,864 - - 959 - 605 2,032 1,842 6,316 - 247 - 12,001 121,865 31,510 |
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This page does not form part of the statutory financial statements
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