NORTH WALSHAM GYMNASTICS CLUB {A private ctyripany limite(J by guarantee) REPORT AND FINANCIAL STATE•AENTS FOR ThE YEAR W4DED 31 DECEMBER 2023 C￿rity Num￿r. 1171166 Company R•glstration Number: 09626412 lllll 1111 *ACIT0￿6A* 2PlQY2￿24 cC￿PANIEs HOUSE A21 NORTH WALSHAM GyMN￿$TIcs CLU8 CONTENTS OF THE HNANCIAL STATEMENTS lor the yearended 31 December 2023 Legal arKJ •jM￿ls*￿ti¥e infrni Rep(yl ofthe Twslees Report ol Ihe Intrr￿ent E*amTh Statement of Financial Acbvths BalanrE Sheet Notes to the F￿ancIal Stsiements 7-13 NORTh WALSHAM GYAINASTICS CLUB LEGAL AMD AI)MINISTRATNE INFORMATIOII foTthe year end¢d 31 Decembèr 2023 Reglstered Charlty Nam•: North V4alsh¥n Gymnaslics Club R•gist*r•d ¢ha¥ity numt•*. 1171166 Reglstered Company ntsmb•r. fM26412 12 Lim Tr89 Roa &)rfh Walsham NR28 Plac• of buslness: 4 C￿nIsh Way Businèss Park Norfolk NR28 OAW Tru5tO0S". Mr Michael Broc*s Mr5 Theresa Freemen Mr5 Patrra Johnson M5 Donna Yarham Mr Neal HayÈ5-Bralley klrs fina Casbum Key Marwyement Pe￿O￿n•1. Mr5 hjexis T1¥Jr5t￿ {Head Co￿*) Solieitors: Han5elts so1￿1(￿5 Canada HoL￿e Grammar Schwl Road NR28 9JH Independent Ex•mlners: Sexty & Co Charte￿￿ Certrf*d Accwntwts 124 Thorpe Road Nowth Norfolk NR1 1RS NORTH WALSHAM GYMNASTICS CLUB REPORT OF THE TRUSTEES for the year ended 31 Dewthr 2023 The Tnjstees present their rwt wrfh the financial statements of tr￿ djarity l(Y the year ended 31 December 2023. STATUS Norlh Walsham Gymnaslic£ Cknb is a c￿mPanY limited ty guarantee and was on S ju￿ 2015. The o)mpany is an in(xwporated ¢harity fPyiSterpd with Ihe Clwity Cornmiss•)n (Regislrdlion No. 11711661. It is governed by 115 Memorwdum and Axbctes ofAsgxKqtion. PRINCIPLE ACTMTY The prinCi￿e actv•ty of N(th Walsham Gymnastu Club $ to [mDn￿te parttcipat#M in the ar•leur 5POrt of gymnastts indudirvJ General. Vlomen's Arttstic, Men's Artisttc. DisabAtty Gymnastics and Pr&School to provide facilit￿S within Norih Walsham and Noth Norfo￿ Ihe b8nefit ol mEmbers throughout th* communlty. To gnsure adequate reswrce5. Coach¥￿ and woware are availabbE lo all membws and othèr bodies. CHARITA8LE OBJECTS To promote comrmity part¥ipakn in h￿RhY feCT&￿ for the benefits olthè inhaknlanls of North Walsham and the surrounding area. by provision otfatilibes for Ihe spcfft of8m8tew gyrnnasttt arKI othercharitable aclbvities. OBJECTIVES At4D ACTMTIES North Walsham Gymnastics Club is a wislered charity pro￿￿e5 a lun. safp and nurtuiing environmènt lo obtain the es5enlial ftyjndation sklls in gyThnastiC5. The e$5enlial skljs pro¥￿e￿ enable young people lo excee(J their expeetxtions. develop se$1￿teeM and re*ise Iheir w)tential. The club Offe￿ a varied gymnastics and conditioning PToJram from social gyrnnastKs thrO￿h lo wnpgtdiv¢ gymnast￿5 With price optKM)s lor all levels of inteTesL but with greatef emphasis on grow clas￿. TTr* CKJb's o)a¢hès havÈ access to wntinLbal 118ining with some of the a￿'S tL¥J professKinal coaches. t￿$ prov•Yes the St￿yents with L4P-tfrdate moves ar¥J techniques. Th8 C*Jb w8*0M￿ a drv•rsity of peo¥4e and mainlains a non-smokn.ng and alcohovdrug free erwimnment. PLIBLIC BENEFIT STATEIIENT The Trustees have regard to the Chanty Corniisskn's pubk benefit wwjance. ACHIEVEMENTS PERFORMANCE Norlh Walshym Gyrnna5tic5 Club a totsl of 317 reueaiiwl rnember5. 71 C(MnpeIi￿erlnterrned1aIe. 55 developmen(40 ar¥J 12 F+omtred. Ths totsb 495 memkn in all. kn I￿ase of 40 ￿rnber5 from 2022. We have 19 ¢oac1*5 rangng Irom level O to Level 4 coachiryj ￿ a part bas￿. This year * h￿￿ seen an increase in our volunteer coth rise lo 10 age(1 bel￿n 12-15 years ¢Yd. Our coaches added a totsl of 4 Level l QuaIrf￿lIonS and 1 Le¥el 2 l2udthrati￿. 3 i￿%￿n9 qualrfKath?ns, 16 first aid. five marshal. equbty 8nd r￿k a5sessrrent C(XY5es. are rKsw offerry mcfe y￿1Th3 SeS5ior6 to 1 week per and irK¥eased wr 121 and party slots. Ovr Wetrdre Team k£6￿ up to dale wilh c4)ur5es awKJ wthKJual ne￿ within the C￿b aTrJ we aTr now atle to njn Special edu¢ylm￿al 121 sessKbn5. Many thanks rnust go to all tyJr coac*￿. staff and fortheir NOFMI WALSHAIII GYMNASTICS CLUB REPORT OF THE TRUSTEES fr*r the year WKl¢d 31 D¢¢en*w 2023 {¢ontinued) FINANCIAL REVIEW The Statement ol Financial Activibos shows a swplus for the year of £18.(KJ212022 doficit.. t3.4331 total reserves stsnd at £114.07412022'. £96.0721. RESERVES POUCY It is th8 polw of the ¢haiity lo maintain un￿Strict￿j funds wfiith a￿ the free reserves ofthe charity. at a level which equates to apprDximately six monlh5 unresiitled expendibJrfr. This wvxles sufficieDI lunds to cover management and administrat￿n and swport costs and to ￿spO￿# to emergenries. RISK MANAGEMENT The Tfustees review the risks ofthe on a regularbasrs and have wnfvmenled kK4i(ies w)d procedures to mftlgale exp￿Y￿e to these risks. In ad¢Ji1￿. a review of all firtrwKial ftsks Ks undertaken on 8 regul8r basis. GOVERNANCE AND MANAGEMENT The day to day affairs of the charity a￿ ovetseen by the Board of Trustees. The Trustees meet on a ￿gUlar basis to r8Vi8W the charity's adiviljes. Wwe thwe is a need for new Trustees. these are identified and appointed by ts exisling Tnjslees, in aCco￿ance with the Arttles ol ASs￿lation. The report of Ihe trustee5 has been prepared laking advanlage of the small companie¥, exernplion of seclion 415A of the CompanE5 kt 2W6. ON BEHALF OF THE TRUSTEES Mrs Johnson- Twstee Mrs T Freemen- Tnjslee Date.. NORTH WALSHAM GYMNAsncs CLUB REPORT OF THE WDEPEIIOENT EXAIIINERS TO THE TRUSTEES I report to the tharity lrnstees on my examTnatwM ol the ac£rAmts of the for the year ended 31 December 2023 wh￿h are set tyjt on pag8s S to 13 Responsibilltles and basls of rèport As the chanty trustees of tho tsjmpany (and also ts d*8ctors lor the pxwses of c4)ryyany lawl you are responsible for the weparalion ol Iht arA)unts In 8ccrfMdance 4Vrth Ihe wul￿￿ents of the Corroanies Act 2006 {'the 2006 Act.). Having satisfied myserf Ihat ol the company are nol required to be atsdbteil l¥￿*r Part 16 01 the 2006 Act and are Èligible lor independent examinatkjn. I report n resped ofmy exafflinakn￿ ofyoufcompanys a¢Gounts as out under 5eGThon 145 of Ihe Ch8rities Act 2011 1.the 201 l Acl'l. In carrying out my ex8fflinalton I have folkn¥•d ts Dr8rAth￿ by Ihe Chanty CThnmiswn urthr ￿tiOn 145(5llbl r*1 the 2011 Acl. Independent examlnefs slatem I have compFeted my ex8minatw. I confirm lh* no mattef5 have c{￿e lo my atten1￿￿ in COr￿eCI￿)n wf(h the exambnation giving mè r2use to beli8¥e thai in any m8terial respect". ac¢ounlM)g rècorts were nol kept in respect of company 3$ r¢quwl by sectim 386 of the 2006 Act,. the acctyjnts do not accord wilh those rernrds: or the accounts do c4Jwyly Y*rith the &¢C￿n￿r￿j wuirements d sttts"LX) 396 01 the 2006 Act other than any requiroment that Ihe aC￿nts g¥e a Irue arml fa"f whth is noi a matter cortsid￿￿ as part 01 an independent exarThnation: or the accounis have r¥)t been prepar8d in arm￿anCe the n*ttKwJs and prirryles of the Slatem•nt ol ReconYn&nded Praciice for aecourfing reporMg by chafi1￿ apKAicabFe lo tharitles preparing their accounts in accortjance with thè FinatKxal Rep)rtWlg Standard appli.cable In th? UK and Republic ol Ireland IFRS 1021. 3ttentton sl*Jukl bè drawn in Ihis rervt ￿ order to enable J proper undws13ndr4J ol Ihe acethnts lo be r8ached. A OThes FCCA. FCA Sexty & Co Chartered Cwbfied Accounlants and Registered Audrtors 124 Thorpe Road Norwith NR1 1RS Dale". IORTH WALSHAM GYMNASTICS CLU8 STATEhlENT OF RNANCIAL ACTIVITIES (INCLUDING INCOME AMD EXPEMDrnIR£ ACCOUNn for th• y•ar •nd•d 31 D•cemb•r 2023 T(tsl funds 2023 Totsl funds 2022 Gener•1 Restricted fund$ funds In¢omè from: Donations and grants Charitabk athwties Total Incom• 2.731 234.923 237.654 2.731 234.923 237.654 9.966 191.894 201.860 Expgndilure on: Charitsble aclivit 219.652 219.652 205.293 Totsl chwllalJ* exPendI￿re 219.652 219,652 205,293 Net inCom￿{￿XP￿l￿1lI￿r0j 18.002 18.002 13,433) Tfansfets beh%Yèn fim05 Net movement in fund5 18,002 18.002 13.433) Re¢oncili•tlon of funds Fund balances browhl frmwavd 96,072 .072 99.505 Fund balart¢¢$ ¢arri¢¢J fryward 114.074 114.074 96.072 The notes set wt on pages 7 to 13 fm aft integral part of these fir0￿181 slaiements NORTH WALSHAM GYMPIASnCS CLU8 (COMPANY REGISTRATION NO. 096264121 BALANCE SHEET 31 December 2023 2022 Flx•d ass•ts 12.188 11,503 Curr•Tht assets Siock Debtors and K¥epayments Cash at bank and in hartd 3,300 3,525 923 91.887 96,335 109.935 113.878 Creditows du• ¥thln *)nv y 10 11.992 11.766 Net cuffent assets 701.886 84.569 114.074 R•pr•s•rrt•d by: Restricted fvn¢Js Unrestricted funds 114.074 96.072 Total Funds 114074 96.027 Thè company vrds 8￿1￿#d to •xemptK>n from au)n￿ the C￿tY wim have be8ft no11f￿d ol the amounts and the settlement date in writin9. 11 there are rmditw)ns attached to the donation and thts r8ouirès a level ol perf¢)m)ance belore entrflem￿I can bè obtain•J then 15 deferred until thosa condrtions are fvlly met or Ihe ￿r￿ment of those ccffiditK•ns is within the control of the chaity and rt is Pfobable Ihat wil be fulfilled. Income Irorn grants is recc•3nised when Ihe chawity has wthuenwt after any performance conditions have been met, it is p￿bat￿e th* the Trncome *ill be feceived and the amount can be 8stJred reliabty. If entTrtkn*nt is nol mel ihen these aftbjunls a￿ deferred. d} EXpendI￿¥e recognllion All wjendrture 15 acmmted for ￿ an actr￿5 basts has been d￿Sifie(l under headings that aggregate 011 costs related to the ￿l¢gory. Expenditu￿ is recc¥Jn15ed ￿ere there is 8 legal or conslruclive obligattsjn to rnake paymerts io Ihird parties. it is probabbe that the selilemenl wll be required the amount of ts oblb38lion can te mè85Lwed relrabty. Irrècoverable VAT is Ltharged as an experw against the •JMtyforwhK* expe￿rtUre w>so. NORTH YIALSHAM GYMNASTICS CLU8 NOTES TO THE FIMANCIAL STATEMENTS for tho year ended 310¢cemb•r 2023 Icontlnuedl Accounling poflci•s-eontinued Fixed assets Tangible fixed assets are ststed * Cost or vahAtion less accumutaled depreciatton and accumuLated impairnenl losse5. C05t costs *tsityJtable ID makiTrg the asset capable of opw¥tiry as intended. Depreciaty'on is provKled on all tan￿b￿ fixed assets. at rates calculatwl tQ fwrite off Ihe cost. less estirnaied residu81 value. ol eath asset Cffi 8 syslematK bass over lis Èxpected useful lrfe a5 Leasehohy irr4wtyemert5 Plant and mth"r Equwenl 10% str￿ght h'ne 25% Strdithl h.ne 25% h.ne St¢>ck$ Stocks are measured at Ihe hywer of cost arKI eslimated selliThJ wice wsts to oynpknte and sell. Cost includes all costs of purchase. costs of cc￿Ver3￿)n and otherr4* incuffed in bring￿9 the stock lo ils pres￿1 IoLzts"on arnl c£*Klits)n. 91 L•as•s Rental Flayal￿e uY¥Jer opeTrlry lea585 are chary8d to fv SOFA on a slraKJht line basis over the period ol Ihe ￿3$e. h) Tax The is an ejterno clwity the r￿al￿ of schad￿* 3 ofthe Charit*s Act 2011 and consiyered to pass the tests set out in Paiagwaph 1 SCh￿￿te 6 Finance Act 2010 and therefo it meets the dtfinrtKJn ol a thariiaL4e crrfnpany lor UK co[￿ra110n wrffts. Going ¢on¢em The financial ststements have been ￿epa￿ on a go]r¥3 corK*m t￿(8 as the tnJstees believe thai no m*erial uncertawth.es extsL Tr tnjslees kne ihe levd offunds held and the expetted level 01 inc£rfne aTrY eXpenditi￿re for 12 months from aUth￿'s1[¥j these financial statements. The budpt8d incomtr antl ￿￿0￿rtUre is sufficient witl) ihe IBvel ol reserves for the eharIty to be at48 to rJ)ntinue as a goiNJ concem.. Llmlt•d by 9uarnnt¢e North Wa15harn Gymna* Club LiThMted a company by guwantee arml accordir#Jly dces not have any shafft Caplal. Every tnefflber of the company undertake5 to conln.bute such affKyJnl as may be required not exceeding £1 to ￿ assets crflhe chaniats￿ ccthpany in the ev8ni olits bey¥J wound up while he she is a member. ￿ wilhin one year after he or she ceases to be a m8mLEr IIORTH WALSHAM GYIINASTICS CLU8 NOTES TO ThE RNANCIAL STATEMENTS lor th• y•ar •nd•d 31 D•c•mb¢r 2023 Icontinibod} Accountlng polkles- ¢ontinu•d ) G(>vernmont grants Grants are acctyJnted uThJtr the actruaL¥ model a5 perrnthd by FRS 102. Grants relating to expendrture on tangiblè fixed assets a￿ c¥ediknJ to p￿fit ￿ kjss at th8 same rate as tha d*preciab"on on Ihe assets to whKh Ihe gTrnt TElates. The def6yrnd dem￿1 of gr3n15 is induded ' in credit(X5 as defeffed ir￿De. Grants of a revenue naturg we recowised in the twofil ar¥1 Ioss actount in the same period as the ￿lated expenditurè. General funds Re¥trict•d fund5 2023 2022 Miscellane￿s [Yonati￿S Just Financial Planning Brittsh Gymn* 1.41Y) 1.102 1.102 3,566 731 funds 2f43 2022 194.959 16.341 194.959 16,341 4.833 160,897 12,758 4,367 180 5.893 130 7.004 542 123 InsvTance Clothing Tud( shop CompetsiDn and c(wse fees Sumrner sessions Fundraising Award6 Gym hire 6.465 4235 8.090 6.465 4.235 234.923 234.923 191.894 NORTH WALSHAIA GymN￿￿TICs CLU8 NOTES TO THE FINANCIAL STATEMENTS for th• year ended 31 Decembtr 2023 Icontinuedl Analysis ot•xp•ndllur• on charitsble acti¥it*s General Funds Funds 2023 2022 Rent & fatss 'ght & he81 Repwrs & rerwrnÈ5 Salaries Pensi￿ contributi￿$ Coaches expenses Competitw)n & c￿[$& fee Clothing et¢. Lieences and insurance TÈIepl￿ne & broadbath1 Postsg8 & staltonery Equipmenl Websito 8ank & card ACCo￿tancY & payrc41 lees Miscellanwws OewerAab"on 33.074 4,491 672 128.884 1,133 213 1,083 6,067 17,870 592 5.517 5,517 1.003 136.925 136.925 221 221 825 4,649 21.897 345 51 4.649 21.897 51 165 270 3.230 2.106 962 4.861 (3801 3.975 2.479 547 4.416 3,975 2.479 547 4,416 219.652 219.652 205.293 S. IndÈpeAd•nt exafflinÈr lees Fee5 payable to ts iThJer*ndent exafflinw for. 2023 2022 In(lependeni ¢x8m4n•tion finarKial slalements Other fina￿1* wvire5 1.200 906 1.279 2.479 2.106 10 NORTH WALSHAM GYMNASTICS CLUB PIOTES TO THE FINANCIAL STATEMEMTS for Ihe year ended 31 December 2023 (continued) 6. Trustee's remuneratlon and expens8s The trustees have neither received nor waived any r8munerat*)n or expenses during the current year. Staff ¢o$t8 The average monthly number of employees during the year was 18 employees {2022". 17). The lolal 51aff costs and ern￿Oyee benefits were as follows.. 2023 2022 Wages and salaries Pension Costs 136.925 128,884 1.886 1,133 138.711 130,017 No employee received total employee benefrts of more than £60,000. The Charity considers that the key management personnel comprises the Trustees and the senior management ieam. The iotal empk>yee benefits of the key management personnel ol the Charity were £40.21512022 £36.446}. 8. Fixed Assets Leasehold Improvements Plant and machinery Equipment Total Cost At 1 January 2023 Addilions Al 31 Decemb9r 2023 23.252 9.121 86.829 5,101 91,930 119,202 5,101 124,303 23,252 9.121 Depreclation At 1 J8nuary 2023 Charge lor the yeai Al 31 December 2023 13,950 2,325 16.275 9.121 84.628 2.091 86.719 107,699 4,416 112,11S 9.121 Net Book Value "Al 31 December 2023 Al 31 December 2022 6.977 9.302 5,211 2.201 12,188 11,503 9. Debtors and prepayment5 2023 2022 Trade debtors 643 932 932 NORTH WALSHAM GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 D9¢0m￿r 2023 Icontinu•d} 10. Croditors: amounts f4lling due within on• year 2023 2022 Trade creditors Taxation an¢J soual secvrity Accruals 521 956 939 11.036 10.306 11,992 11,766 11. Leases Total future minlmum lease payments under non4ancell*ble operatln9 leases are as follows: 2023 2022 Nol18ter than one year L8ler ihan one and not later than live years 32.604 32.604 9S.095 127.699 127.699 160.303 12. Penslons and ¢ther po$t-retiremeni benefl¢$ - Dellned ¢ontrlbutlon plan$ The amounl r8cognised in income or expenditure Ss an expense in relation fo defjned contributions plans was £1.88612022.. £1.1331. 13. Fund recoftclllatlon Balanees 01.01.23 8alances 31.12.23 Income Expenses Transfers Genèral funds 96.072 237.654 219.652 114.074 Restricred funds Totsl lunds 96.072 237.654 219.652 114.074 General funds are available lor use al the discrelion of the trustees in furtherance of the general objectives of the charity and which have not been designated for olher purposes. 12 IIORTH WALSHAM GYMNAsmcs CLUB NOTES TO THE FINAIICIAL STATEMEKrs for the y•ar •ndtd 31 Oecembef 2023 (Ubntlnuedl 14. Analysis of net assets tie1¥R￿ funds G•n•ral Restricted fund5 funds Total Ftxed assets cuf￿nt assets Creditors less than 1 year 12.188 113.878 111.9921 12.188 113.878 111.992} P4et Current 49gels 114.074 114,074 There w918 Th) ￿l￿e￿ paty transac1k￿ dwrvJ the pèrK•l12022: £NI}. 13