**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
Page 1
**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.
Page 2
**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
Page 3
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the 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.
I D Pascall FCA
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
Date: .............................................
Page 4
## **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
Page 5
## **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
Page 6
**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...
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
## **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.
continued...
Page 11
**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.
Page 12