**Registered number: 11060766 Charity number: 1179837** ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** ## **UNAUDITED** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE PERIOD ENDED 31 DECEMBER 2022** 1 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the charity, its trustees and advisers**|**3**| |**Trustees' report**|**4-7**| |**Independent examiner's report**|**8**| |**Statement of financial activities**|**9**| |**Balance sheet**|**10**| |**Notes to the financial statements**
|**11 - 21**| 2 **SHERWOOD OAKS GYMNASTICS ACADEMY (A company limited by guarantee)** REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **Trustees** Z McDonald, Trustee (appointed 13 November 2017) E Baker FCCA, Trustee (appointed 13 November 2017) K Brown, Trustee (appointed 13 November 2017) KA Stevenson, Trustee (appointed 13 November 2017) ## **Company registered number** 11060766 ## **Charity registered number** 1179837 ## **Registered office** 10 Braemar Road, Mansfield, NG19 0LN ## **Key Management Personnel** Wendy Anderson, Birklands Accountancy, 49 Primrose Court, Mansfield Woodhouse, NG19 9DY 3 ## **SHERWOOD OAKS GYMNASTICS ACADEMY (A company limited by guarantee)** TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022 The Trustees present their annual report together with the financial statements of the company for the period 01 January 2022 to 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity, The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ## **Objectives and Activities** ## **a. Policies and objectives** The objectives of the Charity are the provision of recreational gymnastics facilities for the public, particularly children, in the interests of social welfare and with the object of improving their conditions of life. ## **b. Activities for achieving objectives** During the year, the Charity operated a gymnastics facility, offering classes for preschool and beginners, through to more advanced classes. The Charity also has several competitive classes for those children wishing, and able, to compete. The Charity also operates drop in session for under fives during the week. ## **c. Public benefit** We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## **Achievements and performance** ## **a. Key financial performance indicators** The key financial performance indicator of the Charity is the number of members the Charity has, and the cash generated from membership. 4 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **b. Review of activities** The charity has added additional development groups during this period with a view for further competitive groups in 2023. Of the current recreational and competitive groups there are very few spaces and the charity has a growing waiting list for classes. Stay and play sessions have continued to be popular during the year. The charity has achieved good growth in revenue during the year and can now offer activities during the day as well as evenings and weekends. The charity has invested heavily in new equipment during the year and has increased their marketing campaign using social media to showcase their new state-of-art gymnasium with a view of continued growth into 2023 and future years. ## **c. Investment policy and performance** The Charity currently holds no investments. Any future investments would be discussed and voted on during trustee meetings. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **b. Results for the year** Total income increased in the period from £116,374 to £196,200. Expenditure increased in the period from £125,468 to £195,572 giving a net benefit of £628 (2022 - £-9,094). The charity had negative funds carried forward at 31 December 2022 of £4,712 (2020: £-5,339) of which £4,712 (2021 - £-5,339) are unrestricted funds and £Nil (2021 - £Nil) are restricted funds. ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** TRUSTEES' REPORT _(_ continued) FOR THE PERIOD ENDED 31 DECEMBER 2022 5 ## **c. Reserves policy** A reserve of between 2 and 4 months administrative costs is recommended to allow for continuation of the organisation in the event of the withdrawal of a course in funding. We calculate that a sum between £12,000 and £20,000 is required for this purpose. Due to the move to the new premises and additional costs incurred relating to energy costs, reserves are taking longer to build back up, the charity is aware of this and have put measures in place to build these back up to the required level over the next 12 months. The charity has managed to increase reserves during the reporting period, and they forecast to increase this in the next 12 months ## **Structure, governance and management** ## **a. Constitution** The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 31 October 2017. The company is constituted under a Memorandum of Association dated 31 October 2017 which was amended on 13 August 2018 and is a registered charity number 1179837 _._ The company was incorporated on 13 November 2017 and commenced trading on 1 January 2018 as explained in note 19. The principal object of the company is to provide and assist in the provision of facilities for recreation or other leisure time occupation for the public at large, in particular but not exclusively children, in the interests of social welfare and with the object of improving their conditions of life by providing facilities for gymnastics. ## **b. Method of appointment or election of Trustees** The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. ## **c. Organisational structure and decision making** The Charity is managed by four trustees, one of whom is a qualified gymnastics coach. The Charity also has three qualified welfare officers. A team of employed coaches run the sessions, all of whom must have Disclosure and Barring Service (DBS) checks. The Charity is affiliated to British Gymnastics and as such all coaches and members must have British Gymnastics membership. ## **Plans for future periods** ## **a. Future developments** In Charity has grown in numbers over the last 12 months and are currently expanding the variety of classes offered, from toddler groups to adult gymnastics classes **,** they are also working with local schools 6 to provide them with the opportunity to use the facility. This report was approved by the Trustees, on 26[th] September 2023 and signed on their behalf by ## **Z McDonald - Trustee** ## **E Baker - Trustee** 7 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022 **Independent Examiner's Report to the Trustees of Sherwood Oaks Gymnastics Academy (the 'company')** I report to the charity Trustees on my examination of the accounts of the company for the period ended 31 December 2022. ## **Responsibilities and Basis of Report** As the Trustees of the company (and its directors for the purposes of company law _)_ you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts 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 my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner's Statement** I have completed my examination.and I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; ## **Or** **2.** the accounts do not accord with those records; or **3.** the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no **c** oncerns 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. Signed: Dated: 25[th] September 2023 Wendy Anderson 8 ## **SHERWOOD OAKS GYMNASTICS ACADEMY (A company limited by guarantee)** STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT **FOR THE PERIOD ENDED 31 DECEMBER 2022** ||**Unrestricted**
**funds**|**Total Funds**
**2022**|**Total Funds**
**2021**| |---|---|---|---| |Income From:
Donations and Legacies
Charitable Activities
Other Trading Activities
**Total Income**
Expenditure on:
Raising Funds
Charitable Activities
**Total Expenditure**
**Net Profit/(Loss) before other**
**recognised gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total Funds Brought Forward
**Total Funds carried forward**
Note|£
5,896
172,082
18,222
**196,200**
3,923
191,649
**195,572**
628
**628**
**(5,339)**|£
5,896
172,082
18,222
**196,200**
3,923
191,649
**195,572**
628
**628**
**(5,339)**|£
16,796
96,598
2,980
**116,374**
2,030
123,438
**125,468**
(9,094)
**(9,094)**
**3,755**
**(5,339)**| ||||| ||**(4,712)**|**(4,712)**|| The notes on pages 10 to 19 form part of these financial statements. 9 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A compa** ny limite **d by guarantee) REGISTERED NUMBER: 11060766** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** |Note
Fixed Assets
Tangible Assets
Current Assets
Debtors
Cash at Bank and in Hand
Creditors: amounts falling due
within one year
Net Current Assets
Non-current liabilities
**Net Assets**
Charity Funds
Unrestricted Funds
**Total Funds**|31 December
2022
£
£
72,520
17,018
17,018
(31,894)
57,644
(62,356)
**(4,712)**
(4,712)
**(4,712)**|31 December
2021
£
£
48,565
41,190
41,190
(957)
40,233
(94,137)
**(5,339)**
(5,339)
**(5,339)**| |---|---|---| The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved **a** nd authorised for issue by the Trustees on 26[th] September 2023 and signed on their behalf, by: **Z McDonald – Trustee** **E Baker - Trustee** 10 **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **Accounting Policies** ## **1.1 Basis of preparation of financial statements** The charity constitutes a public benefit entity as defined by FRS 102. 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 of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **1.2 Reconciliation with previous Generally Accepted Accounting Practice** In preparing these accounts, the Trustees have **c** onsidered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required. ## **1.3 Company status** The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.4 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 11 **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. ## **1.6 Turnover** Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. ## **1.7 Tangible fixed assets and depreciation** A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: - Long term leasehold property – Write off over the term of the lease Fixtures and fittings - 5% reducing balance 12 **SHERWOOD OAKS GYMNASTICS ACADEMY (A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **Accounting Policies (continued)** ## **1.8 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. ## **1.9 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.10 Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.11 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. ## **1.12 Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 13 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## 1.13 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. ## 1.14 Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 14 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## 2. Income from Donations and legacies |Donations
. Income from charitable activities
Fees
Membership Fees
Competition Entries
Uniform Income
Other Income
. Other Trading Activities
Badge Income
Tuck shop income
Total|Unrestricted
Funds
2022
£
5,896
Unrestricted
Funds
2022
£
163,959
7,773
7,218
7,426
350
186,725
Unrestricted
Funds
2022
£
3,530
48
3,578|Total
Funds
2022
£
5,896
Total
Funds
2022
£
163,959
7,773
7,218
7,426
350
186,725
Total
Funds
2022
£
3,530
48
3,578|Total Funds
2021
£
16,796
Total Funds
2021
£
95,804
-
-
-
794
96,598
Total
Funds
2021
£
2,980
-
2,980| |---|---|---|---| ## 3. Income from charitable activities ## 4. Other Trading Activities 15 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 In 2022, of the total income on other trading activities, £3,578 was to unrestricted funds and £Nil to restricted funds. In 2021, of the total income on other trading activities, £2,980 was to unrestricted funds and £Nil to restricted funds. ## **5. Direct Costs** |Coach Costs
Competition Fees
Uniforms
**6. Support Costs**
Admin Staff Wages
Insurance
Training Courses
Rent
Motor Expenses
Telephone
Website and Internet Costs
Repairs and Renewals
Postage, Printing and Stationery
Sundry Expenses
Affiliation Fees
Advertising
Entertaining
Club Manager Fees
Professional Fees
Depreciation
Accountancy
Loan Interest|Unrestricted
Funds
2022
£
91,963
5,389
-
97,352
Governance
£
Admin
£
-
1,487
40,770
384
435
3,994
1,388
28,605
-
4,763
332
3,435
1,512
7,191
1,844
92,452|Total
Funds
2022
£
91,963
5,389
-
97,352
Total
Funds
2022
£
-
1,487
40,770
384
435
3,994
1,388
28,605
-
4,763
332
3,435
1,512
7,191
94,296|Total
Funds
2021
£
43,858
-
679
44,537
Total
Funds
2021
£
-
150
37,354
59
441
113
18,080
400
7,684
-
47
110
2,238
1,006
2,751
1,908
6,560
78,901| |---|---|---|---| ||||| 16 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** ## _(_ A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **7. Governance Costs** |**. Governance Costs**|||| |---|---|---|---| ||Unrestricted|Total|Total| ||Funds|Funds|Funds| ||2022|2022|2021| ||£|£|£| |Support Costs Governance|1,844|1,844|2,914| ## **8. Analysis of Expenditure by type** |Badge Fees and Tuckshop
**Cost of raising funds**
Administration Costs
Expenditure on Governance|Other Costs
2022
£
-
**-**
189,804
1,844
**191,618**|Total
2022
£
-
**-**
189,804
1,844
**191,618**|Total
2021
£
2,029
**2,029**
120,525
2,914
**123,439**| |---|---|---|---| ## **9. Turnover** The whole of the turnover is attributable to that of a gymnastics club. All turnover arose within the United Kingdom. ## **10. Net income** _**l(**_ **expenditure)** This is stated after charging: ||31 December|31 December| |---|---|---| ||2022|2021| ||£|£| |Depreciation of tangible fixed||| |assets:||| |Owned by the charity|3,435|2,751| |Independent Examiner Fee|1,512|1,908| 17 **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **11. Staff costs** The average number of persons employed by the company during the period was as follows: 31 December 31 December 2022 2021 No. No. 6 5 No employee received remuneration amounting to more than £60,000 in either year. ## **12. Taxation** As a **c** harity, Sherwood Oaks Gymnastics Academy is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. ## **13. Tangible fixed assets** |**3. Tangible fixed assets**|||| |---|---|---|---| ||Long-term|Fixtures &|Total| ||Leasehold|Fittings|| ||Property||| ||£|£|£| |Cost|||| |At 31 Dec 2021|3,074|66,065|69,139| |Additions||25,799|25,799| |At 31 Dec 2022|3,074|91,864|94,938| |Depreciation|||| |At 31 Dec 2021|1,845|18,729|20,574| |Charge for the period|615|2,821|3,436| |At 31 December 2022|614|70,314|70,928| |Net Book Value|||| |At 31 December 2022|614|70,314|70,928| |At 31 December 2021|1,845|47,366|48,565| 18 ## **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **14. Debtors** |**4. Debtors**||| |---|---|---| ||31 December|31 December| ||2022|2021| ||£|£| |Other Debtors|-|-| |Prepayments and Accrued income|-|-| ||-|**-**| ## **15. Creditors: Amounts falling due within one year** ||31 December|31 December| |---|---|---| ||2022|2021| ||£|£| |Accruals and Deferred Income|**600**|**600**| |Payroll Accruals|**4,969**|**-**| ## 16. Creditors: Amounts falling due after one year ||31 December|31 December| |---|---|---| ||2022|2021| ||£|£| |Loan with Sporting Capital & Close Brothers|88,681|94,137| 19 **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **17. Statement of funds** **Statement of Funds – current year** ||Balance at|||Balance at| |---|---|---|---|---| ||1 January|||31 December| ||2022|Income|Expenditure|2022| ||£|£|£|£| |Unrestricted funds||||| |General Funds – all funds|(5,339)|196,200|(195,573)|(4,712)| |Statement of Funds – prior year||||| ||Balance at|||Balance at| ||1 January|||31 December| ||2021|Income|Expenditure|2021| ||£|£|£|£| |**General Funds**||||| |General Funds – All Funds||||| ||3,755|116,374|(125,468)|(5,339)| ## **18. Analysis of net assets between funds – current year** ||Unrestricted|Total| |---|---|---| ||Funds|Funds| ||2022|2022| ||£|£| |Tangible Fixed Assets|72,520|72,520| |Current Assets|17,018|17,018| |Creditors due within one year|(31,894)|(31,894)| |Creditors due over one year|(62,356)|(62,356)| ||**(4,712)**|**(4,712)**| |**Analysis of net assets between funds – prior year**||| ||Unrestricted|Total| ||Funds|Funds| ||2021|2021| ||£|£| |Tangible Fixed Assets|48,565|48,565| |Current Assets|41,190|41,190| |Creditors due within one year|(957)|(957)| |Creditors due after one year|(94,137)|(94,137)| ||**(5,339)**|**(5,339)**| 20 **SHERWOOD OAKS GYMNASTICS ACADEMY** _**(**_ **A company limited by guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ## **19. Related party transactions** During the period, no Trustees received any benefit to coaching fees. During the period, no Trustees received any benefits in kind. During the period, no Trustees received any reimbursement of expenses. During the period, the Club discounted fees for 2 trustees in lieu of providing administrative services for the club, the discount totalled £2,313. During the period, no committee members received any reimbursements regarding administrative services for the club. 21