CHARI REGISTRATION NUMBER: 1179691 Newport Acrobatic Gymnastic Club Unaudited Financial Statements 31 August 2024 WALTER HUNTER & CO LIMITED Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF
Newport Acrobatic Gymnastic Club Financial Statements Year ended 31 August 2024 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Newport Acrobatic Gymnastic Club Trustses. Annual Report Year ended 31 August 2024 The trustees present their report and the unaudited financial ststements of the charity for the year ended 31 August 2024. Referenco and admlnlstrativo details Registered charlty namo Newport Acrobatic Gymnasti¢ Club Charity reglstration number 1179691 Prlnclpal offk• 22 Enville Road Newport NP20 SAE The tru$teg$ Mrs S Watkins Mr G Gage Mrs A Walker Pole MrA Jone5 Mr B Brain (Appointed 8 Octobgr 2023) Mr Jonathan Rhodes 8Sc BFP FCA Independent examlner Structure, governance and management The charity 1$ governed by its constitution and is a charity registered with the Charity Commission. The ele¢tioTr of trustees: According to the constitution of Newport Acrobalt Gymnastic Club in a general meeting shall elect the officers and the other Iruslees in line with the terms of the constitution. The Trustees may appoint any person who is willing to act as a Trustee. They may appoint a maximum of 9 and minimum of 3 trustees. Apart from the first charity trustees, every trustee must be appointed for a term of three year5 by a resolution passed al a properly convened meeting of the charity trustees. The Charfty Structuro. Our Team Our head coach, coaching assistant and administrative person are all volunteers. Our coaches attend safeguarding and protecting children courses, first aid and coaching qualification courses. The club has 3 welfare officers voluntary working al each session. Objectives and actfvitle8 The club is a non-profit dislribuling charity whose principal objective is lo advance public participation in sport. the encouragement of and the provision of gymnastic opportunities predominantly, but not exclusivety. for individuals from South Wales and surrounding areas.
Newport Acrobatic Gymnastic Club Trustees. Annual Report (condnued) Year ended 31 August 2024 ObjectSves and actlvltle8 (contlnu Publlc BenefSt The Iruslees confirm that they have referred to the guidan contained in the Charity Commission's general guidance on public benefft when reviewing the Charities aims and objectives and in planning future activits'es. Achlevements and performance The main achievernent in the year was to add other necessary equipment. As well as the continued Sucssth the competition gymnasts, the club continues to grow its daytime activities for pre schoolers and recreational gymnasts and also offering half term fun days and tumbling classes. Financial review The club continues to promote iys gymnastic sesslons in the local community and around South Wales and relies on fees from these sessions to support the overheads of the club. The trustees, annual report was approved on 4 November 2024 and signed on behart of Ihe board of trustees ty.. Mrs S Watkins Trustee MT A Jones Trustee
Newport Acrobatic Gymnastic Club Independent Examinerfs Report to the Trustses of Newport Acrobatic Gymnastic Club Year ended 31 August 2024 I report to the Iruslees on my examination of the financial statements of Newport Acrobatic Gymnastic Club I'the charity,) fof the year ended 31 August 2024. Responsibilities and basls of roport As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'the ACVI. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5llb) of the Act. Independent examinerfs statement 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. accountsng records were not kept in respect of the tharity as required by section 130 of the ACL or the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements conceming the form and content of accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 2ccounts to be reached. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner 24 Bridge Street Newport South Wales NP20 4SF 4 November 2024
Newport Acrobatic Gymnastic Club Statement of Financial Activities Year ended 31 August 2024 2024 Unrestricted funds Total funds Total funds 2023 Income and endowments Donations Charitable activrties Investsnent income Other income 68 155,237 1,743 2,425 159,473 68 155,237 1,743 2,425 564 152.691 965 3,777 Total Sncome 159,473 157,997 Expendlture Expenditure on charitable activities Total oxpendlture 138,413 138,413 138,413 121.112 138,413 121,112 Net incomo and net movement In funds 21.060 21,060 36,885 Reconciliation of fund5 Total funds brought forward as previously reported Prior year adjustment Total funds brought forward as restated Total funds carried fonyard 151,095 151,095 125,759 {11,5491 114,210 151,095 172,155 151.095 172,155 151.095 The ststemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. nots¥ on pag•s 6 to 13 forni part of those financlal statements.
Newport Acrobatic Gymnastic Club Statement of Financial Position 31 August 2024 2024 2023 Fixed assets Tangible fixed assets 16 7.628 16.065 Current assets Debtors Cash 8t bank and in hand 17 628 165,765 1,084 138,344 166,393 139,428 Creditorn: amounts falllng due within one year Net currnnt assets 18 1,898 137,530 153,595 164,527 Total assets less CUTrent Ilabilities 172,155 Creditovs: amounts falling due after more than one year Net assets 19 2,500 151,095 172,155 Funds of tho charity Unrestricted funds 172,155 151,095 Total charity funds 21 172,155 151,095 These linancial statements were approved by the board ol trustees and authorised for issue on 4 November 2024, and are signed on tEhalf of the board by.. Mrs S Watkins Trustee MrAJones Trustee Th& notss on pag•9 6 to 13 forni part of these financial stat8ments.
Newport Acrobatic Gymnastic Club Notes to the Flnancial Statements Year ended 31 August 2024 General infomiation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 22 Enville Road, Newport. NP20 SAE, South Wales. Statement of compliance These financial statements have been prepared In compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their ac¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Charities SORP IFRS 10211 and the Charities Act 2011. AcGountillg pollcles Basis of preparation The financial statements have been prepared on the histor1 cost basis. The financial statements are prepared in sterling, which is the fvnctional currency of the entty. Golng concem There are no material UnrtaIntieS about the charity's ability to conlinue. Judgements and key sources of estlmation unc•rtalnty The preparation of the financial staleThnts qUireS management lo make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and aTe based on experience and other factors, including expectations of ture events that are believed to be reasonable under the circumstances. Fund acGountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted fvnds are subjected to reslri¢tions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of sub-clas5es.' restricted income funds or endowment funds. Incorning resources All income is included in the statement of financial acts"vilie$ when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific FlIcIeS are applied to particular categories of income.. income from donations or grants is ognISed when there is evidence of entitlement to the gfft, receipt is probable and its amount can be measured reliably.
Newport Acrobatic Gymnastic Club Notes to the Financlal Statsments (contstiued) Year ended 31 August 2024 Accountlng poli¢les fConUnuj Incoming resources (continlffjd) - income from donated facilitse5 and services are re¢ognised in the accounts when received if the value ¢an b8 reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of setvices is recognised with the delivery of the contracted seryice. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure 15 recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is dassthed under headings of the ststement of financial activities to which il relates.. expenditure on charitable activities includes all costs incurred by a charity in undertaking actNities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned lo charitable actr'vities. other expenditure includes all expenditure that is neither related to raising fund5 for the charity nor part of ils expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single aelivity are allocated directly lo that activity. Shared Costs are apportioned een the activities they contribute to on a reasonable. jusb'fiable and consistent basis. Operating lea308 Lease paym8nts are recognised as an expense over the lease term on a slraight-line basis. The aggregate benefft of lease incentives is recognised as a reduction to expense over the lease term, on a 5traight-line basis. Tangible assets Tangible assets are initially recorded at ¢o$t, and subsequently stated at cost less any accumulated depreciation and impairrnenl losses. Depreciation Depreciation is calculated so a5 to write off the cost or valuation of an asset, less its residual value, over the usefvl economic life of that asset as follows.. Fixtures and fittings 20% straight line
Newport Acrobatic Gymnastic Club Notes to the Financial Statements (conllnued) Year ended 31 August 2024 A¢countlng pollcigs (contlnu Financial instruments A financial asset or a financial liability is recognised only when the entty brneS a paty to the contractual provisions of the instfument. Basic financial instruments are initially rec(unised at the amount receivable or payable including any related transaction Costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted al a market rate of interest for a similar debt instrumenL Currentassets and current liabilities are subsequently measured atthe cash orother consideration expected to be paid or received and not discounted. Defined ¢ontribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an ass8t lo the extent Ihat the prepayment will lead to a reduction in future payments or a cash refund. Donatlons Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Donatlons DonatnS Local Giving 68 68 64 500 64 500 68 68 564 564 Charitablg actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gymnastic sessions fee income 155.237 155,237 152,691 152.691 Investment Income UnStricted Total Funds UnStrICted Total Funds Funds 2024 Funds 2023 Bank interest receivable 1,743 1,743 965 965
Newport Acrobatic Gymnastlc Club Notes to the Financial Ststements (¢ontinuedJ Year ended 31 August 2024 Other In¢ome Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Commission on sale of gym kit Rental income 787 2,990 3,777 787 2.990 2.425 2.425 2,425 2,425 3,777 Expendlture on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Gymnastic sessions Sports Wales Capitsl Equipment Fund Support costs 135,632 135,632 2,781 138,413 2,781 138,413 Unfestricled Funds Restrtcted Total Funds Funds 2023 Gymnastic sessions Sports Wales Capital Equipment Fund Support costs 109,306 109.306 9,166 2,640 121,112 9,166 2.640 111.946 9,166 Expendlture on charltable actlvlties by activity type Activities undertaken diredy Support Total funds osts 2024 Total fund 2023 Gymnastic sessions Sports Wales Capitsl Equipment Fund 135.632 2,781 138,413 111,946 9,166 121,112 135,632 2.781 138,413 10. Analysls of support costs Gymnastic sessions Totsl 2024 Total 2023 COMMUntIOnS and IT General office Independent examination fees 316 1,079 1,386 2.781 316 1,079 1,386 2,781 428 892 1.320 2.640
Newport Acrobatic Gymnastic Club Notes to the Financial Statements (c¢)nlinuedJ Year ended 31 August 2024 11. Taxation As a charity, Newport Acrobatic Gymnastic Club is exempt from lax on income and gains, to the extent that such income or gains are applied exclusively to charitable purposes. No tax Charges have arisen in th8 charity. 12. Net income Net income is stated after chargingl(creditsngl'. 2024 2023 Depreciation of tangible fixed assets Operating lease rentals 9,814 29.024 9,456 31,839 13. Indopendent gxamination fees 2024 2023 Fees payable to the independent examiner foi". Independent examination of the financial statements 1,386 1,320 14. Staff costs The total staff costs and employee benefits ftir the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 29.333 661 32.059 613 29,994 32,672 The average head count of employees during the year was 112023-. 2). No employee received employee benefits of more than £60,000 during the year {2023'. Nill- 15. Trustee remunerntlon and expenses Trustee Alex Jones received £5000 in the period ft)r rernuneration of coaching expenses. No other trustee or any persons connected with Ihem have reiVed remuneration in the current period. 10
Newport Acrobatic Gymnastic Club Notes to the Financial Ststements (witiftued) Year ended 31 August 2024 16. Tangible flxgd auats Flxtures and fittings Cost At 1 September 2023 Additions 48,109 1,377 Al 31 August 2024 Depreciatlon At 1 September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 49,486 32,044 9,814 41,858 7,628 16,065 17. Debtors 2024 2023 Trade debtors 628 1,084 18. Creditor5: amounts falling due within ono year 2024 2023 Accruals and deferred income Social security and other taxes Other Creditors 1,394 336 136 1,342 556 1,866 1,898 19. Credltors: amounts falling due after morg than one year 2024 2023 Other creditors 2,500 20. Ponsions and other post retirement beneffts Doflned contribution plan$ The amount recognised in income or expenditure as an expense in relation lo defined contribution ptans wa5 £66112023.- £6131. 11
Newport Acrobatic Gymnastic Club Notss to the Financial Statements {con*"nued) Year ended 31 August 2024 21. Anatysls of charttable funds Unrestricted funds At 1 September 2023 At 31 August 2024 Prior year Income Expenditure adjustsments General funds 151,095 159,473 1138,413} 172,155 At 1 September 2022 At 31 August 2023 Prior year Income Expenditure adjustments General funds 116,593 157.997 (111,946) 111,549) 151,095 Restricted funds At 1 September 2023 At 31 August 2024 Prior year Income Expenditure adjustments Sports Wales Capital Equipment Fund At 1 September 2022 At 31 August 2023 Prior year Income Expenditure adjustments Sports Wales Capital Equipment Fund 9,166 19.1661 22. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Cufrent assets Creditors less than 1 year Creditors greater than 1 year Net assets 7,628 166,393 (1.866) 7.628 166.393 11,866} 172,155 172,155 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assots 16,C65 139,428 11,8981 (2,5001 151.095 16,065 139,428 11,8981 12,5001 151,095 12
Newport Acrobatic Gymnastic Club Notes to the Financial Statements (COnlinuedJ Year ended 31 August 2024 23. Prlor year adjustments During the compafalive year. a prior year adjustmentwas included to rectify errors in the recording of transactions that cUrred before 31 August 2022. 24. Operating lease ¢ommltments The total firture minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Not121er than 1 year Later than 1 year and not later than 5 years Later than 5 years 32,431 149,499 28,476 210,406 28,152 28,152 13