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2022-03-31-accounts

Wye Gymnastics and Galaxy Cheerleading

Charity No. 1177378

Company No. CE013412

Trustees' Report and Unaudited Accounts

31 March 2022

Wye Gymnastics and Galaxy Cheerleading CONTENTS

Pages
Trustees' Annual Report 1
Independent Examiner's Report 7
Statement of Financial Activities 8
Summary Income and Expenditure Account 9
Balance Sheet 10
Notes to the Accounts 11 to 16
Detailed Statement of Financial Activities 17 to 19

Wye Gymnastics and Galaxy Cheerleading ANNUAL REPORT

Introduction from the Chair

“We survived 19/20 with your love and support and in 20/21 we will thrive.” was a statement made in my report from last year and how true that has become.

The impact that COVID had on the CIO was immeasurable but our staff, members and volunteers have all shown great resilience, adaptability and loyalty and have all contributed to the success of this year.

We are very fortunate to have 4 new incredible Board members join our team. With their experience and expertise and the ability to better support our staff, we are in a good position to deliver our strategic aims and work toward the next phase of our 5 year plan.

I am very much looking forward to seeing the organisation grow over the next 12 months, supporting more people and bringing our community closer together.

Sonja Jones Chair of Trustees

Introduction from the Chief Executive Officer

As I look back over the last year I am overwhelmed with gratitude for the supportive and loyal customer base we have here at WGGC.

Surviving as a business through the COVID-19 pandemic was a feat in itself but seeing the CIO recover during this year has been nothing but remarkable.

We were finally able to open in May 2022 and returned with 387 monthly members of which I am incredibly proud.

However, with cashflow down 59% from previous years we had some way to go.

Due to the ongoing restrictions such as reduced numbers, cleaning schedules and continuing concerns over the spread of Covid-19, it took 6 months to return to pre covid figures.

Since then, the club has gone from strength to strength and we look forward to entering this next financial year on an even footing with the development and growth of the organisation at the forefront of our aspirations.

With a new Board of Trustees driving the CIO forward, I am sure that next year will be our greatest yet.

Carly Hawke Chief Executive Officer

Page 1

Wye Gymnastics and Galaxy Cheerleading TRUSTEES ANNUAL REPORT

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Principal Office

Wyes Up Centre, Unit 53E-F Symondscliffe Way Severn Bridge Industrial Estate Portskewett NP26 5PW

Registered Office

53 E-G Symondscliffe Way Severnbridge Industrial Est Portskewett Caldicot NP26 5PW

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law.

The following Directors and Trustees served during the year:

S.L. Jones - Chair of Trustees

S.E. Postans - Secretary (Resigned 23 March 2022)

E.J. Dent - Treasurer

K. Adams

E. Choules K. Johnson M. Peall

Key Management Personnel

Chief Executive Officer Carly Hawke

Accountants

Seamount Business Services Limited Gryson House The Grove Pontllanfraith NP12 2EQ

Page 2

Wye Gymnastics and Galaxy Cheerleading TRUSTEES ANNUAL REPORT

Our Charitable Aims:

The promotion of community participation in healthy recreation, in particular by the provision of facilities to participate in gymnastics, cheerleading and gymnastics-related activities for people in Monmouthshire and Newport, particularly but not exclusively for children and young people.

Our Vision:

Promoting wellbeing in our community through a passion for gymnastics and cheerleading

ACHIEVEMENTS AND PERFORMANCE

Community Fridge

The Community Fridge has become a permanent addition to our offering here at WGGC. At its inception we were shocked of the vast amount of food that was sent to landfill on a daily basis. Something that was set up to help families during the global pandemic has now developed into reducing food waste and to date we have saved 34,704kg of food.

Love to Move

We are proud to have piloted this new programme specifically for ages 65+. Love to Move is an age and dementia friendly, cognitive enhancement programme, which is transforming the lives of people living with dementia. The sessions are specially designed to get older people moving and functioning better and achieves this by carefully integrating the use of foundation movement skills, cognitive stimulation and social interaction activities. Our pilots took place in 3 assisted living placements and one social group and were incredibly successful. We are looking forward to see the development of this programme in the upcoming months.

Page 3

Wye Gymnastics and Galaxy Cheerleading TRUSTEES ANNUAL REPORT

Continuous Professional Development

Unfortunately, the pandemic has continued to have an impact on courses this year due to the backlog that occurred from cancellations and Face to Face courses have only recently began to take place again.

Our staff have been able to access some of the courses that were previously booked both online and in person.

These courses included:-

Facility Development

We have been fortunate enough to receive a donation of a portacabin which we plan to transform into a Coffee Lounge for our members.

The portacabin is quite old and dilapidated so will need a vast amount of work to make it fit for purpose. In order to raise the funds for this work, we ran a successful Crowdfunder which raised an incredible £10,577.00

We are currently collating all information required to submit a pre-planning application to Monmouthshire County Council.

This will be a fantastic addition to the CIO and provide somewhere for parents to wait for their children while they are in class as well as generating an additional income stream to support the organisation.

FINANCIAL REVIEW

Regular financial reports are given to the Board of Trustees for financial decisions. Annual accounts are prepared for inspection.

The Board of Trustees strives to maintain reserves to ensure that the charity can continue its work. To this end it aims to hold sufficient reserves to maintain its work for twelve months.

Risk Assessment

The trustees of Wye Gymnastics and Galaxy Cheerleading recognise their responsibility to ensure that the assets and resources of the organisation are used to the best effect in order to ensure that its work continues.

PLANS FOR FUTURE PERIODS

Page 4

Wye Gymnastics and Galaxy Cheerleading TRUSTEES ANNUAL REPORT

What we want to achieve over the next year:

-Open a Coffee Lounge adjacent to the main facility

-Achieve Silver in Disability Sport Wales Accreditation

-Introduce a sustainable programme for over 65 year olds

-Review current provisions and introduce new initiatives

-Open two new satellite clubs, one in the local area and another in a neighbouring county

Alongside this we will continue to work towards our charitable aims through the ongoing development of our competitive and recreational programmes.

Our Five Year plan:

In line with our new strategy, over the next 5 years, we aim to focus on the following main strategic priorities. -Developing lasting and valued relationships with all customers -Diversify sources of revenue to develop and grow the provision of gymnastics & Cheerleading -Building the capacity and grow the demand for gymnastics & cheerleading -Continuous athlete progression through and evolving and sustainable system -Develop people through all aspects of the organisation

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a charitable incorporated organisation (CIO) governed accordingly to its constitution.

The CIO is an independent charity, number CE013412.

The organisation commenced activities as a registered charity from 1st March 2018. As at 1st March 2018 the assets and liabilities of Wye Gymnastics and Galaxy Cheerleading were merged to form the registered charity.

The governing document of the organisation is its constitution and it defines the process for recruitment and appointment of trustees which is approved at the Annual General Meeting. Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. Each trustee will receive a copy of the current constitution and a copy of the organisations trustees annual report and statement of accounts.

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Responsibility for The reporting structures within the organisation give clarity and accountability to the Trustees with contingency policies and procedures to mitigate risks.

The organisation is independent and there are no subsidiaries.

Public Benefit Statement

The trustees confirm that they have complied with the duty section 17(5) of the 2011 Charities Act to have due regard to the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.

Page 5

Wye Gymnastics and Galaxy Cheerleading TRUSTEES ANNUAL REPORT

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

S.L. Jones - Chair of Trustees Trustee 06 December 2022

E.J. Dent - Treasurer Trustee 06 December 2022

Page 6

Wye Gymnastics and Galaxy Cheerleading INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the trustees of Wye Gymnastics and Galaxy Cheerleading

I report on the accounts of Wye Gymnastics and Galaxy Cheerleading for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Respective responsibilities of trustees and examiner

The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

Seamount Business Services Limited

Independent Examiner

Gryson House

The Grove Pontllanfraith NP12 2EQ 06 December 2022

Page 7

Wye Gymnastics and Galaxy Cheerleading STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2022

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other
7
Total
Expenditure on:
Raising funds
Charitable activities
8
Other
9
Total
Net gains on investments
Net expenditure
10
Net expenditure before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricte
d funds
2022
£
39,341
179,876
5,201
5
7,286
Restricted
funds
2022
£
-
-
-
-
-
Total funds
2022
£
39,341
179,876
5,201
5
7,286
Total funds
2021
£
22,923
99,917
6,091
-
88,384
231,709
-
24,055
211,835
-
-
-
-
231,709
-
24,055
211,835
217,315
-
23,695
199,631
235,890
-
-
-
235,890
-
223,326
-
(4,181) - (4,181) (6,011)
(4,181) - (4,181) (6,011)
(4,181)
3,104
-
17,500
(4,181)
20,604
(6,011)
26,615
(1,077) 17,500 16,423 20,604

Page 8

Wye Gymnastics and Galaxy Cheerleading SUMMARY INCOME AND EXPENDITURE ACCOUNT

for the year ended 31 March 2022

Income
Interest and investment income
Gross income for the year
Expenditure
Interest payable
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year
2022
£
231,704
5
231,709
221,057
1,544
13,289
235,890
(4,181)
(4,181)
2021
£
217,315
-
217,315
215,645
-
7,681
223,326
(6,011)
(6,011)

Page 9

Wye Gymnastics and Galaxy Cheerleading BALANCE SHEET

at 31 March 2022

Company No.
CE013412
Notes
2022
£
Fixed assets
Tangible assets
12
40,190
40,190
Current assets
Stocks
13
471
Debtors
14
9,435
Cash at bank and in hand
16,176
26,082
Creditors:Amount falling due within one year
15
(5,405)
Net current assets
20,677
Total assets less current liabilities
60,867
Creditors:Amounts falling due after more than one year
16
(44,444)
Net assets excluding pension asset or liability
16,423
Total net assets
16,423
The funds of the charity
Restricted funds
Restricted income funds
17,500
17,500
Unrestricted funds
General funds
(1,077)
(1,077)
Reserves
Total funds
16,423
2021
£
33,838
33,838
650
9,040
34,376
44,066
(7,300)
36,766
70,604
(50,000)
20,604
20,604
17,500
17,500
3,104
3,104
20,604

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 06 December 2022

And signed on its behalf by:

S.L. Jones - Chair of Trustees Trustee

E.J. Dent - Treasurer Trustee

Page 10

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS

for the year ended 31 March 2022

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) - Charities SORP (FRS 102) (effective 1 January 2015) - the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Income

Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity
income becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the
legacies the SoFA when receivable and only when the Charity has unconditional
entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services These are only included in income (with an equivalent amount in expenditure)
and facilities where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/(losses) on This includes any gain or loss on the sale of investments.
investment assets

Page 11

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS

Expenditure

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for nay trade discounts due.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 12

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS

Income from donations and legacies
Gifts
Grants
Unrestricted
£
-
39,341
39,341
Total
2022
£
-
39,341
39,341
Total
2021
£
1
22,922
22,923

4 Income from charitable activities

Subscriptions
5
Income from other trading activities
Fundraising Activities
6
Income from investments
Interest received
7
Other income
Grants (including COVID
Support)
Unrestricted
£
179,876
179,876
Unrestricted
£
5,201
5,201
Unrestricted
£
5
5
Unrestricted
£
7,286
7,286
Total
2022
£
179,876
179,876
Total
2022
£
5,201
5,201
Total
2022
£
5
5
Total
2022
£
7,286
7,286
Total
2021
£
99,917
99,917
Total
2021
£
6,091
6,091
Total
2021
£
-
-
Total
2021
£
88,384
88,384

Page 13

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS

8 Expenditure on charitable activities

Expenditure on charitable
activities
Subscriptions
Governance costs
9
Other expenditure
Bank loan and overdraft
interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
10 Net expenditure before transfers
This is stated after charging:
Depreciation of owned fixed assets
11 Staff costs
Salaries and wages
Social security costs
Pension costs
Unrestricted
£
24,055
24,055
Unrestricted
£
1,544
128,058
245
43,489
13,289
20,886
4,324
211,835
2022
£
13,289
119,760
1,964
1,571
123,295
Total
2022
£
24,055
24,055
Total
2022
£
1,544
128,058
245
43,489
13,289
20,886
4,324
211,835
Total
2021
£
23,695
23,695
Total
2021
£
-
104,778
-
70,647
7,681
9,583
6,942
199,631
2021
£
7,741
97,257
2,869
1,416
101,542

No employee received emoluments in excess of £60,000.

Page 14

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS

12 Tangible fixed assets

£
Cost or revaluation
At 1 April 2021
14,121
Additions
-
At 31 March 2022
14,121
Depreciation and
impairment
At 1 April 2021
-
Depreciation charge for the
year
-
At 31 March 2022
-
Net book values
At 31 March 2022
14,121
At 31 March 2021
14,121
13 Stocks
Finished goods
14 Debtors
Trade debtors
Prepayments and accrued income
15 Creditors:
amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
16 Creditors:
amounts falling due after more than one year
Bank loans and overdrafts
£
49,296
1,780
51,076
16,539
12,644
29,183
21,893
32,757
2022
£
471
471
2022
£
876
8,559
9,435
2022
£
2,068
299
3,038
5,405
2022
£
44,444
44,444
£
1,434
3,741
5,175
354
645
999
4,176
1,080
£
64,851
5,521
70,372
16,893
13,289
30,182
40,190
47,958
2021
£
650
650
2021
£
390
8,650
9,040
2021
£
4,024
-
3,276
7,300
2021
£
50,000
50,000

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 15

Wye Gymnastics and Galaxy Cheerleading NOTES TO THE ACCOUNTS Page 16

Wye Gymnastics and Galaxy Cheerleading DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2022

Income and endowments from:
Donations and legacies
Gifts
Grants
Charitable activities
Subscriptions
Other trading activities
Fundraising Activities
Investments
Interest received
Other
Grants (including COVID Support)
Total income and endowments
Expenditure on:
Costs of generating donations and
legacies
Gifts
Grants
Costs of other trading activities
Fundraising Activities
Investment management costs
Interest received
Charitable activities
Subscriptions
Total of expenditure on charitable
activities
Other expenditure
Bank loan and overdraft interest
payable
Employee costs
Salaries/wages
Unrestricted
funds
2022
£
-
39,341
39,341
179,876
179,876
5,201
5,201
5
5
7,286
7,286
231,709
-
-
-
-
24,055
24,055
24,055
1,544
1,544
90,593
Total funds
2022
£
-
39,341
39,341
179,876
179,876
5,201
5,201
5
5
7,286
7,286
231,709
-
-
-
-
24,055
24,055
24,055
1,544
1,544
90,593
Total funds
2021
£
1
22,922
22,923
99,917
99,917
6,091
6,091
-
-
88,384
88,384
217,315
-
-
-
-
23,695
23,695
23,695
-
-
97,257

Page 17

Wye Gymnastics and Galaxy Cheerleading DETAILED STATEMENT OF FINANCIAL ACTIVITIES

Chief executive officer
Employer's NIC
Pension costs
Staff entertainment
Staff training
Motor and travel costs
Vehicles - General costs
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance
Other premises costs
General administrative costs,
including depreciation and
amortisation
Depreciation of
Depreciation of
Loss on disposal of tangible fixed
assets
Bank charges
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees fees
Accountancy and bookkeeping
Consultancy fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
29,167
1,964
1,571
984
3,779
128,058
245
245
26,911
241
3,819
446
4,223
6,624
1,225
43,489
12,644
645
-
57
6,227
394
12,653
779
776
34,175
828
1,296
2,200
-
4,324
211,835
235,890
-
29,167
1,964
1,571
984
3,779
128,058
245
245
26,911
241
3,819
446
4,223
6,624
1,225
43,489
12,644
645
-
57
6,227
394
12,653
779
776
34,175
828
1,296
2,200
-
4,324
211,835
235,890
-
-
2,869
1,416
-
3,236
104,778
-
-
27,045
1,151
-
93
3,922
3,090
35,346
70,647
7,453
288
(60)
(51)
4,523
482
-
-
4,629
17,264
-
3,520
1,844
1,578
6,942
199,631
223,326
-

Page 18

Wye Gymnastics and Galaxy Cheerleading DETAILED STATEMENT OF FINANCIAL ACTIVITIES

Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
(4,181)
(4,181)
-
(4,181)
(4,181)
(4,181)
-
(4,181)
(6,011)
(6,011)
-
(6,011)

Page 19