REGISTERED CHARITY NUMBER: 1169065
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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 2024
| 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 | 12 |
VISTA TWISTERS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2024
TRUSTEES
D J Harcourt (Chairman) Ms S L Kemp (Programme Coordinator) L Hand (resigned 31.7.24) C Andersen (resigned 31.7.24)
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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. 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 report refers to the seventh 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 that by their nature contribute to improving physical and mental health of all who take part. There are significant social benefits by being part of a well governed and administered voluntary club that creates a sociable environment, promotes teamwork and togetherness.
The start of this reporting cycle launched a period of recovery and growth, with many new athletes taking up the sport of cheerleading. This is largely due to significant exposure on social media of the club's 3rd trip to compete on the world stage in the USA. It is also a period where private hire gave the CIO the opportunity to replenish funds that would be essential to sustain the club should it be faced again with operating issues, such as a return of lockdowns.
The club continued to perform well competitively on the national stage, taking part in 11 events and competitions across the UK and another event in Germany, as well as the World Championships in Florida.
Public benefit
Development plans and business performance monitoring helps the CIO to continue to deliver a diverse programme that is made more accessible by keeping training fees low and offering a wide range of free 'come and try' opportunities. Pathways exist to take pre-school children from play to sports performance at the highest levels.
The club continues to work where possible with local schools (Dover/Folkestone/Ashford), Kent Sport and other agencies to expand activities and take part in community events. The CIO and trustees pay full regard to public benefit.
Staff and volunteers
Without volunteers the charity/club would simply not exist. The building operation and business model relies on volunteer coaches and support staff, and this enables the club to keep fees as low as possible and pay the bills. VT fees are recognised by other programmes as probably the cheapest in the UK, for a sport that has a reputation for being expensive.
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VISTA TWISTERS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In August 2023 VT launched the season with the highest athlete count ever. Over 200 athletes started the season within 14 teams plus 2 travel teams who competed in Germany. Churn and retention is key for all sports clubs, and with new athletes joining through the year, the season ended with 185 competing athletes. This is considered an excellent result overall.
The profile of the club remains high. Being a high-performance club with a good reputation, that competes in the World Championships, brings people to our door. There are athletes travelling from as far as an hour from the gym to be part of the programme. Achieving qualification for a third appearance at the Cheerleading Worlds Championships is huge. Community engagement and word of mouth referrals are even more important and generate leads all year round.
The recently returning VT Showcase, at the District Leisure Centre, saw 600 people watch all 14 teams perform across 2 shows - a 15% increase on the previous year.
The club continued to operate a satellite session at Folkestone Sports Centre, attracting some 30+ athletes per week, plus an after-school club in the local high school. This has led to athletes joining the main programme in Dover and signing up for a competitive team.
FINANCIAL REVIEW
Financial position
At 31 July 2024 the charity held unrestricted reserves of £155,179 (2023 - £119,447).
It should be noted that the club retains advanced payments on behalf of members to pay significant competition entry fees across the season, including a large budget to compete at the Cheerleading World Championships in the USA.
Reserves policy
The reserves policy of the charity is adjusted to reflect the demands of the business.
It must again be recognised within this annual report that the support of volunteers and committed families makes the charity sustainable and keeps fees affordable in an expensive sport.
The sport of cheerleading has grown significantly across Europe and particularly the UK. Event providers require clubs to sign up for events many months in advance. These events sell out fast. Consequently, the club needs significant funds in the current account to pay entries in advance, and collect the payments from members across the year. This makes entry more affordable for families.
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. The trustees are aware that there must be a minimum of 3 in office at any one time. There were 2 in office at the year end and they were actively seeking a third.
Approved by order of the board of trustees on ............................................. 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 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no 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
Date: .............................................
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VISTA TWISTERS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Registration, coaching and competition fees 247,788 Grants and fundraising 32,944 Total 280,732 EXPENDITURE ON Charitable activities Registration, coaching and competition fees 145,177 Operating costs 104,130 Total 249,307 NET INCOME 31,425 Transfers between funds 11 4,307 Net movement in funds 35,732 RECONCILIATION OF FUNDS Total funds brought forward 119,447 TOTAL FUNDS CARRIED FORWARD 155,179 |
Restricted funds £ 53,343 15,099 68,442 64,134 704 64,838 3,604 (4,307) (703) 2,812 2,109 |
2024 Total funds £ 301,131 48,043 349,174 209,311 104,834 314,145 35,029 - 35,029 122,259 157,288 |
2023 Total funds £ 301,016 24,352 325,368 195,907 117,735 313,642 11,726 - 11,726 110,533 122,259 |
|---|---|---|---|
The notes form part of these financial statements
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VISTA TWISTERS
BALANCE SHEET 31 JULY 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 18,177 CURRENT ASSETS Stocks 7 950 Debtors 8 22,915 Cash at bank 122,151 146,016 CREDITORS Amounts falling due within one year 9 (9,014) NET CURRENT ASSETS 137,002 TOTAL ASSETS LESS CURRENT LIABILITIES 155,179 NET ASSETS 155,179 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 2,109 - 5,545 (5,545) - - - 2,109 2,109 |
2024 Total funds £ 20,286 950 28,460 116,606 146,016 (9,014) 137,002 157,288 157,288 155,179 2,109 157,288 |
2023 Total funds £ 27,050 1,150 24,949 81,070 107,169 (11,960) 95,209 122,259 122,259 119,447 2,812 122,259 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. 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 2024
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 exemption 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 2024
2. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The charity provides coaching in schools/academies as part of its activities and such activities are regarded as part of the unrestricted funds.
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
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
During the year no trustees were reimbursed for expenses (2023 - £nil).
4. STAFF COSTS
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Registration, coaching and competition fees 257,010 Grants and fundraising 15,446 Total 272,456 EXPENDITURE ON Charitable activities Registration, coaching and competition fees 141,611 Operating costs 116,797 Total 258,408 NET INCOME/(EXPENDITURE) 14,048 Transfers between funds (1,384) Net movement in funds 12,664 RECONCILIATION OF FUNDS Total funds brought forward 106,783 TOTAL FUNDS CARRIED FORWARD 119,447 |
Restricted funds £ 44,006 8,906 52,912 54,296 938 55,234 (2,322) 1,384 (938) 3,750 2,812 |
Total funds £ 301,016 24,352 325,368 195,907 117,735 313,642 11,726 - 11,726 110,533 122,259 |
|---|---|---|
continued...
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
6. TANGIBLE FIXED ASSETS
| Fixtures and Equipment fittings £ £ COST At 1 August 2023 and 31 July 2024 66,845 7,179 DEPRECIATION At 1 August 2023 42,216 4,758 Charge for year 6,158 606 At 31 July 2024 48,374 5,364 NET BOOK VALUE At 31 July 2024 18,471 1,815 At 31 July 2023 24,629 2,421 7. STOCKS 2024 £ Stock of uniform and training wear 950 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Sundry debtors 28,460 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Income received in advance 3,787 Accrued expenses and sundry creditors 5,227 9,014 10. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 £ Within one year 45,600 Between one and five years 182,400 In more than five years 235,600 463,600 |
Totals £ 74,024 46,974 6,764 53,738 20,286 27,050 2023 £ 1,150 2023 £ 24,949 2023 £ 4,982 6,978 11,960 2023 £ 45,600 182,400 281,200 509,200 |
|---|---|
continued...
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Kent Community Foundation World Championships TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund Restricted funds Kent Community Foundation World Championships TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Kent Community Foundation World Championships TOTAL FUNDS |
At 1.8.23 £ 119,447 2,812 - 2,812 122,259 s follows: At 1.8.22 £ 106,783 3,750 - 3,750 110,533 |
Net movement in funds £ 31,425 (703) 4,307 3,604 35,029 Incoming resources £ 280,732 - 68,442 68,442 349,174 Net movement in funds £ 14,048 (938) (1,384) (2,322) 11,726 |
Transfers between At funds 31.7.24 £ £ 4,307 155,179 - 2,109 (4,307) - (4,307) 2,109 - 157,288 Resources Movement expended in funds £ £ (249,307) 31,425 (703) (703) (64,135) 4,307 (64,838) 3,604 (314,145) 35,029 Transfers between At funds 31.7.23 £ £ (1,384) 119,447 - 2,812 1,384 - 1,384 2,812 - 122,259 |
|---|---|---|---|
continued...
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Kent Community Foundation World Championships TOTAL FUNDS |
Incoming resources £ 272,456 - 52,912 52,912 325,368 |
Resources Movement expended in funds £ £ (258,408) 14,048 (938) (938) (54,296) (1,384) (55,234) (2,322) (313,642) 11,726 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Kent Community Foundation World Championships TOTAL FUNDS |
At 1.8.22 £ 106,783 3,750 - 3,750 110,533 |
Net movement in funds £ 45,473 (1,641) 2,923 1,282 46,755 |
Transfers between funds £ 2,923 - (2,923) (2,923) - |
At 31.7.24 £ 155,179 2,109 - 2,109 157,288 |
|---|---|---|---|---|
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 Kent Community Foundation World Championships TOTAL FUNDS |
Incoming resources £ 553,188 - 121,354 121,354 674,542 |
Resources Movement expended in funds £ £ (507,715) 45,473 (1,641) (1,641) (118,431) 2,923 (120,072) 1,282 (627,787) 46,755 |
|---|---|---|
World Championships: The funds received are spent on competition costs which include travel, accommodation and uniforms. For the latest "Worlds" the income and sponsorship was more than anticipated, and exceeded the costs incurred. The surplus has been reallocated back to the club.
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VISTA TWISTERS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
11. MOVEMENT IN FUNDS - continued
Kent Community Foundation: £5,000 was received in 2022 to assist with the purchase of mats for use to start a club in Folkestone. The fund balance is reduced in line with the depreciation being charged in the accounts on those mats.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
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