SANDBACH GYMNASTICS FOUNDATION {A company limited by guarante&l UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Reglstered Charity No. 1171220 Reglstered Company No. 10574182
SANDBACH GYMNASTICS FOUNDATION IA company limited by guardnteel CONTENTS Page Legal and Adminislralive Information Trustees, Annual Report Independent Examiners Report statement of Financial Aclwities Balan Sheet Notes to the Financial Statements 9-15
SANDBACH GYMNASTICS FOUNDATION (A company limitod by guarant&&) LEGAL AND ADMINISTATIVE INFORMATION Trusteos The truslees who served during the period were.. Mr K M Danskin Mr W Forresl Mr M E Wilson Mrs J P Wright Reglstered offi¢a and principal address Millbuck Park Millbu¢k Way Sandbach Cheshire CW11 3HT Reglstered Charity number- 1171220 Company registratlon number- 10574182 Independent Examiners Afford Bond Holdings Limited Chartered Accountants 31 Wellington Road Nan}ch Cheshire CW5 7ED Bankers Barclays Bank 125 Main Street Frodsham Warringlon Cheshire WA6 7AD Solicitors Hibberts Solicitors 144 Nantwich Road Crewe Cheshire CW2 8BG Page 1
SANDBACH GYMNASTICS FOUNDATION IA company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the ¢harity for the purposes of the Companies Act, submit their annual report and the financial slalements for the year ended 31 March 2024, whh are also prepared to meet Ihe requirements for a directors, report and accounts, to c(xnpty with the Charities Act 2011 and Companies Act 2006. The Iruslees have adopted the provisions of the Statement of Recommended Practice ISORP} 'A¢counling and Reporting by Charities IFRS 1021 in preparing the annual report and financial statements of the Charity. The charity is a charitable company limited by guarantee and was sel up on 20 January 2017. It is governed by its rnemorandum and articles of a5SOGialion. Referenco and administrative details of the charity, its managemont and advlsgrs The ¢harilable company's name is Sandbach Gymnastics Foundation. The other referen and administrative details of the charity are as slated under the legal and administrative infoimalion on p8ge 1. The charbty trustees who served during the period and up to the dale of this report are as follows.'- Mr K M Danskin Mr W Forrest Mr M E Wilson Mrs J P Wright Structure and govemance The company was established under a Memorandum of Association which established the objects and powers of the chartsble company and is governed under ils Articles of Association. The charity is a charitable company limited by guarantee and in the event ol the charity being wound up members are iequired to contribute an amount not exceeding £10. Risk management The trustees have conducted a review of the major risks to which the charty is exposed. Vlhere appropriate, systems or procedures have been estsblished to mitigate the risks tho charity faces. Internal Control risks are minimised by the implementation of procedures for the aulhorisation of all transactions. Procedures are also in place to ensure Complian with the health and safety of staff and ils visitors. These procedures are periodical reviewed to ensure that they continue to meet tho needs of the Charity. Trustees. respoftslbilities statement The Iruslees (who are also directors of Sandbach Gymnastics Foundation for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genera51y Accepted Accounting PraCte?. Page 2
SANDBACH GYMNASTICS FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ICONT'DI Trustses, responsibllltles statement- continued Company law requires the trustees to prepare financial slalements for each financial year which give a true and fair view of the slate Df affairs of the charitable company and of the in¢oming resources and application of resources, including the income and expenditure. of the charitabl& Company for that period. In preparing these financial slalements. the Iruslees are required lo.. select suitable accounting policies and then apply them consislentty., observe the methods and principles in the Charities SORP 2015 IFRS 102} make judgements and estimates that are reasonable and prudent", slate whether applicable UK Accounting Standards have been followed, subj'ect lo any material departures disclosed and explained in the financial stalemenls,. and prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are spOnSible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company the hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Oblèctlves and activities Objectives The objectives ol the Charity. as set out in its governing document are'.- to foster and promote community participation in healthy recreation by the provision of facilities and coaching for gymnastics and other sports., to provide and assist in providing facilities for sport, recreation or other leisure tirne ¢Upation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty Of social or economic circumstance or for the public al large in the inleiests of social welfare and with the object of irllproving their conditions of lrfe., and b) to advan the education of children and young people. Activities undertaken for the publlc benofit in relation to these objectives The Iruslees have had due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undèrtake to meet the staled objectives. The goveming document notes the powers the trustèes may exercise in furtheran of the charrtable company's objects. The Sandbach Gymnastics Foundation host some of the most up to date facilities. The cushioned matting and special shock absorbent areas allow the cenlre's qualified coaches tr) provide a wide range of coaching and gymnastics based aclivilies. The ntre lake great pride in providing a safe, fun and educational area for local people to enjoy in an inclusive environment teaching both boys and girls from all ages. Page 3
SANDBACH GYMNASTICS FOUNDATION {A ¢ompany limitod by gL5arantee} REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 (CONT'DI Achievements and performance The Sandbach Gymnastics Foundation was formed on 20 January 2017. The foundation completed its property acquisition in April 2019 and the occupation of a fully constructed and furbished gymnastics Centre took place al the beginning of 2020. The trustees take this opportunity lo again thank the Denise Coates Foundation lor the grant funding lo enable this project. The charity's management have been into the surrounding areas lo visit k)c81 schoo15 and community projects in order lo promote the foundation. The trustees and management routinely continue lo monf(or and maintain ¢onlrol of ils costs. The charity has currently reached ils capacity of 700 members training every week. Al classes are full, from pre- school through to the teams, with significant wailing list for all classes. As a foundation we Sre pleased lo leach and support a Iherapeulic speci81 school whi¢h provide education for pupils with social, emotional and mental health difficulties, as well as providing the gymnastics provision for a home educated group of children supporting their curriculum needs. This year the foundation has competed al the British, Eng5ish and Welsh championships with ourjuniors. Our tumblers have represented the region al the National Teams Finals for the North Wesl as well as competing at the English National Championships. The foundation also held the Special Needs National Rhythmic Championships, who were a delight lo watch as they performed their routines. The foundation will support them in their 2024 championships in November. The centre also played host lo the Great Britain Women's Olympic Team. The team competed al the centre in front of a live audience of our mernbers and guests in one of their final preparation competitions for the Paris Games 2024. 11 was great to see the Olympian5 compete and then make time for a sp&¢ial"meel and greet. with the audienTr after the competition. This year the charity have two further level 5 coaches and our first apprentice. all of which strengthens the coaching base al the centre. We anticipate that a second apprenti will start September 2024. The trustee5 are satiSfd wrf(h the charities progress and ils impact on the community to dale. Flnan¢ial revlew Pollcy on reserves The trustees believe that il 15 in the charity's best interests lo relain a reasonable level of reserves in order lo ensure that the charitable objectives can continue lo be mel effeclivety without any unnecessary disruptions which may occur due lo unforeseen circumstan$. Some of the funds, as shown in the balance sheet, are represented by fxed assets held for use wllhin the charity, so these are lo be exduded from the funds balance in order to give a better representation of thè level of reserves that are fr&ly available for immediate use in achieving the charitable objectives. This basis has been used lo calculate the freely available reserves figure noted below. The freely available reserves for the period ended 31 March 2024 is calculated to be £60,296. Page 4
SANDBACH GYMNASTICS FOUNDATION {A company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ICONT'DI Policy on reseNes- continued The trustees aim for the level of freely avaiSable reserves to be at least £1,000. The trustees monitor the level of reserves al the end of each financial perK)d in order that they ¢an review and update the policy lo ensure that it Continues lo reflect the perceived levels of expenditure anticipated, given the most recent and expected future circumstances, and also allows sufficient funds to be instantly available to able lo meet any unforeseen expenses. The risks and uncertainties facing the charity are considered by tho Iruslees, as far as practicable, so that the level of future charitable activities can be adequately planned for. The trustees and management are confident that they can grow the charity over the next few yeais. Overall, the Iruslees have established a poli¢y whereby the charity has sufficient liquid reserves lo allow for the conlinLJed operation of the Sandbach Gymnastics Foundation for al least the next iwelve months. Further financial revlew The charity makes cash deposits with ils high street bank which have a low level of risk, the funds are easily accessible and offers an acceptable rale of interest. The results of the charity for the year are shown in the slalement of financial activities and the position of the company at the period end is shown in the balance sheet. Declaratlon This report has been prepared in accordance with the provisions applicable to companies entitled lo the small companies exemption in the Companies Act 2006. This report was approved by the board of directors and signed on beh81f of the charity's Iruslees by.. teo Datg 024 Page S
SANDBACH GYMNASTICS FOUNDATION {A company limited by guarantèe} INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SANDBACH GYMNASTICS FOUNDATION I report on the accounts of the Sandbach Gymnastics Foundation {registered charity number 1171220, company registration number 105741821 for the period 1 April 2023 to 31 March 2024 which are Sel out on pages 7 to 15. Responsibilities and basis of report As the ¢harily trustees of the company land also ils dire¢lors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'l. Having satisfied myself that the 8¢counts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of rny examination of your company's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying Out my examination I have followed the Directions given by the Charity Commission under section 14515) Ib) of the 2011 Act. Independent oxaminer's statèment Since the Company's gr05s income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualif1ed to undertake the examination because i am a member of the Inslilule of Chartered A¢counlanls in England and Wales, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my allention in connection with the examination giving me cause lo believe that in any material respè¢L accounting records were not kept in respect of the company as required by section 386 of the 20 A¢t,' OT the accounts do not accord with those re¢Drds', or the accounts do not comply with the accounting requirements of section 3* of the 2006 Act other than any requirement that the accounts give a 'lrue and fair view, which is not a Matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Gharilies applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK IFRS 1021. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be leached. JIJ LU Peter O'malley ACA FCCA CTA For and on behalf of Afford Bond Holdings Limited Chartered Accountants 31 Wellinglon Road Nantwich, Cheshire CW5 7ED Dale Page 6
SANDBACH GYMNASTICS FOUNDATION (A company Ilmited by guarantee> STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted Funds Funds Total 2024 Total 2023 Income from charitablè activities Gym hire and membèrship Donations gifls and fundraising Bank interest received 382.316 3,045 837 382,316 3,045 837 413,863 2,954 101 Total income and endowmènts 386,198 386,198 416,718 Expenditure on Charitablè activities Support costs Wages and salaries Pension costs 274,354 4.408 274,354 4,408 270,214 4.471 278.762 278,762 274,685 Other operating expenses Cafe costs Clothing. event costs and trips Pioperty, equipment servicing and secuflty Telecommunications Licenses, insurances and subscriptions Bank interest and charges Legal and professional Accountancy Cleaning Postage, stationery and advertising Sundry Depreciation 4,469 10,224 26.445 2,217 30,764 893 2,472 3,720 8,143 3,205 3,208 7,499 4,459 10,224 26,445 2,217 30,764 893 2,472 3.720 8,143 3,205 3,208 112,874 4,223 12.683 21,479 1,591 28,952 1,407 2,261 3,720 6,432 3,333 3,314 118,066 105,375 103,259 105.375 208,634 207,461 TOTAL RESOURCES EXPENDED 382,D21 105.375 487,396 482,148 Nat income b&forg tran$fors Transfer botween funds 4,177 {105,3751 (101,198) {65,4281 Net incomelmovemenls in funds 4,177 1105,3751 1101,198) 165,428) Reconciliatlon of funds: Totsl funds brought forward 98.615 2,924,888 3.023,503 3,088,931 Total funds carried forward 102,792 2,819,513 2,922,305 3,023,503 All income and expendrture derives from continuing activities. The statement of financial activities includes all gains and losse5 recognised in the period. Page 7
SANDBACH GYMNASTICS FOUNDATION {A company limited by guarantee) BALANCE SHEET AS AT 31 MARCH 2024 Not&s 31.3.2024 31.03.2023 Fixed assets: Tangible assets 2,862.009 2.964,852 Current a$$ats'. Debtors Cash at bank and in hand 70,064 62.431 Total current assets 70,064 62,431 Liablllties.. Credilois." amounts falling due within one year (9,768) 13,780} Net current 8$sets 60,296 58,651 Total net assets 2.922.305 3,023.503 The funds of the charity: Unrestrleted funds General funds 11 102,792 98,615 Rastricted funds 11 2.819,513 2,924,888 Total charity funds 2,922,305 3,023,503 For the financial year ended 31 March 2024 the company was entitled lo exemption under section 477 of the Companies A¢1 2006 relating lo small cornpanies. No members have required the company to obtain an audit of ils accounts for the year in question in accordance with section 478 of the Companies Act 2006. The directors acknowledge their responsibility for Complying with the requirements of the Act with respect lo accounting records and for the preparation of aOunts. These financial slalemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial slalements were approved and authorised for issue by the board of directors and signed on behalf of the charity's trustees by.. Mr M E Wilson Trustee Mr W Forrest Trustee Date Company regis ration number 10574182 Page 8
SANDBACH GYMNASTICS FOUNDATION IA company limited by guarantee) NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 MARCH 2024 A¢Gounting policies 1.1 Company status The charity is a company limited by guarantee and has no share capital. The members of the company are the Iruslees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited lo £10 per member of the charity. The registered office is Millbuck Parf(, Millbuck Way, Sandbach, Cheshire, CW11 3HT. 1.2 Basis of preparation The financial slalemenls have been prepared on a going con¢ern basis under the historical cost CDnvenlion, unless othenlSe slated. and in accordan with the requirements of the Charities Act 2011 and Companies Act 2006. The financial slalemenls are prepared in steiling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded lo the nearest £. The charity ¢onslilules a public benefit entity as defined by FRS 102. The financial slalements have been prepared in accordance with the Statement of Recommended Practi ISORPI °AccDunting and Reporting by Charrfties" IFRS 1021 issued on 16 July 2014, together with Update Bulletin 1 published on 2 February 2016 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) leffeclNe January 20151. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been Consistently applied to all years presented unless olhetwise slated. 1.3 Fund accounting General funds are unreslricled funds whh are available for use al the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds compiise unreslricled funds that have been sel aside for particular purwses. The aim and uso of each designated fund 15 sel out in the notes to the financial slatemenls. Restricted funds are funds which are to be used in aOrdanCe with specific restrictions imposed by donors or whh have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. 1.4 Income recognition All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled lo the income and after any perfDrmance conditions have been met, the amount can be quantified with reasonable accuracy. Where incoming resources have related expenditure, as with fundraising events, the incoming resources and related expenditure are reported gross in the SOFA and are not offset unless otherwise required by the SORP. Page 9
SANOBACH GYMNASTICS FOUNDATION IA company limited by guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 {CONfD} For donations lo be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are Gondilions allached lo the donations, requiring a level of performance before obtaining entitlement, the incorne is deferred until those condilK>ns are mel. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Vvhere legacies have been notified lo the charity but il is not possible lo determine the arnount expected, the legacy is treated as a contingent asset and disclosed. Gift5 in kind donated for distribution lo the benefi¢iaries are included at valuation and recognised as income upon receipt, where pracli¢able. 11 such a valuation cannot be determined wilhoul undue cost and effort, then it is reGognised within donatlDns on distribution and an equivalent amount shown within charitable expenditure. Gifts donated for resale are included at fair value, being the expected sale pioceeds Sess any expected cost of sa, in income from other trading activib.es on receipt, unless determining the fair value is impractical, in which case the income is not recognised until the item is sold. Donated facilitie5 are recognised in income al fair value when the economic benefit is probable, il can be measured reliably and the ¢harily has control of the il&m, with a Gorresponding amount recognised in expenditLJre. No amounts are included in the financial slalernents for time donated by volunteers in line with the SORP IFRS 102). Interest rwivable on funds held on deposit is included when receivable and the amount Can be measured reliably. nomally upon notification by the bank. 1.5 Expenditure recognition All expenditure is accounted for on an a¢cruals basis and has been classified under headings that aggregate all costs related to the ¢alegory. Expenditure is recognised where there is a legal or constructive obligation lo make payments lo third parties. it is probable that the settlement will be required and the amount of the obligation can be measured reliably. The ¢harity is not registered for VAT. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Expenditure is classified under the appropriate activity headings-. Expenditure on raising ftjnds includes all expenditure incurred by the charity to raise funds for ils charitable purposes but do not include those costs incurred in direct support of the charitable activities. It includes the cost5 of all fundraising activities and events, seeking donations, nDn-charilabSe trading activities and the costs of managing inveslmenls.. Expenditure on charitable activities are those costs incurred by the charity in undertaking activities for the furtherance of ils aims and objedives for the benefit of ils beneficiaries and include support costs and costs relating lo the governance and administration of the charity,. Other expenditure is any other expenditure which is not related to fund raising for charitable purposes or spent towards achieving the charitable objectives. Support costs are those functions whish assist the work of the charity but do nol directty represent ¢haritable aclivilies, including personnel, finance, admini51ralion and governance costs. Vvhere support cost5 are unable to be directly attributed lo particular activity headings, they are allocated between the cost of raising funds and expenditure on charitable activities on a basis consistent with the use of the resour5. Where applicable. the b2sis of apportionment 15 slated in the analysis of support costs. Fundraising costs are those expanses incurred in seeking voluntary contributions and do not indude the costs of disseminating information in support of the charitable activities. Page 10
SAND8ACH GYMNASTICS FOUNDATION {A company Ilmit8d by guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONT'DI 1.6 Tangible fixed a$$ets and depreciation Tangible fixed assets are capilalised if they are material in value and can be used for more than one year. They are stated al cost, unless they are gifted, including any incidental expenses of a¢quisilion and those costs required to gel the assets operating as intended. Gifted assets are brought in al the value to the charity on receipt. Depreciation is provided on all tangible fixed assets, al rates calculated to wiile off the cost, less estimated residual value. of each asset over its expected useful economic life as follows.. Freehold land and buildings Fixtures and fittings 2.5Qk per annum slraighl line 150/0 per annum reducing balan No depreciation is charged on the assets until they come into operational existence. The charity came into operational existen towards the end of the 31 March 2020 financial year 1.7 Debtors and creditors Dèbtors and creditors are r6cognised at the settlement amount due after any discounts offerod. Provisions arise where, al the balance sheet dale, the charity has a present obligation resulting from a past event which is pmbable lo resu in an outhow of economic benefits and the amount due lo sellle the obligation can be reliably eslimaled. Losses arising from impairment are re¢ognised in expenditure. 1.8 Pension costs The ¢harilable company operates a defined contribution scheme for the benefit of certain employees. The costs of contributions are charged against profits in the pericmj they are payable. 1.9 Financial instruments Tho charitable company only has basic financial assets and liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value. 1.10 Taxation The charitable company is exempt from corporation tax on its charitable activities. 1.11 Going ¢onc&rn The financial slalements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for iwelve months from aulhorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able to continue as a going concern. Page 11
SANDBACH GYMNASTICS FOUNDATION IA company limited by guarante&) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 {CONT'D) Expendltura on charitable activities Due lo the size and nature of the charity. expenditure on charitable activities 15 unable lo be analysed b¢een distinct types of aclivily. The activities undertaken by the charity to achieve its objectives are not sepaiately identifiable as each area is dependent on the rest lo enhance the knowledge provided. Net incomell&xpenditurel for the year 31.3.2024 31.03.2023 Net incomelexpendrture is stated after charging Depreciation of tangible fixed assets 112,874 118,066 Accountants remuneration Accountancy fee 3.720 3,720 Staff numbèrs and costs The average monthly number of employees during the year was as follows 31.03.2024 number 31.03.2023 number Trustees Management Stsff 12 12 One employee reiVed total employee benefits of more than £60,000 Page 12
SANDBACH GYMNASTICS FOUNDATION {A company limited by guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONT'DI Trustees and key management P9rsonnel remuneration The trustees neither received nor wawed any emoluments during the period. Key management personnel Comprise the trustees and Sandbach centre man8gemenl. The aggregate compensation paid to key management personnel was £150.49912023 £130,750). TrLEStee5 exportses and related party transactions There were no trustee expenses or related party transactions during the period. Pension costs The charity operates a contributory pension scheme. 11 is a defined wntribution scheme and contribLJtions are Charged in the statement of financial activities as they accrue. Tanglble fixed assets Freehold land and buildlng$ Fixturgs and fittings Total Co$t Al 1 April 2023 Additions 2,937,123 401,260 10.031 3.338,383 10,031 Al 31 March 2024 2,937,123 411,291 3,348,414 Dèpreciation At 1 April 2023 Charge for the year 225,216 73.428 148.315 39,446 373,531 112,874 At 31 March 2024 298,644 187,761 486,405 Net book value At 31 March 2024 2,638,479 223,530 2,862,009 At 31 March 2023 2,711,907 252,945 2,964,852 Page 13
SANDBACH GYMNASTICS FOUNDATION IA company limited by guarnntse} NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ICONT'D) 31.03.2024 31.03.2023 Debtors Due within one year Trade debtors and prepayments 10. Creditors . amounts falling due within one year Accruals and deferred income 9,768 3,780 11. Funds reconciliation Balance at 01.04.2023 Incoming Resources Balance at resourcos expend$d 31.03.2024 Unrestricted funds Designated reserves General reserves 98.615 386,198 1382,021) 102,792 R•stri¢ted funds 2,924,888 1105,3751 2,819.513 Total funds 3,023,503 386, 198 1487,3961 2,922,305 General reserves represent the free funds of the charity that are not designated for particular purposes. Page 14
SANDBACH GYMNASTICS FOUNDATION IA company limited by guarantee) NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 MARCH 2024 {CONT'DI Analy81s of net assets betwgen funds Unrestrieted Designatod Restricted funds funds funds Total fund$ Tangible 11xed assets Cash at bank and in hand Other nel current asselsllliabililiesl 42,496 70,064 19,7681 2.819,513 2,862,009 70,064 19,768) Total net assets 102,792 2,819.513 2,922.305 Control The charitable company is controlled by the trustees, who are also the directors of the charity for the purposes of the Companies Act. Every trustee has a vole, so no individual trustee has overall control. Page 15