The Bar Gym
Charity No. 1181706
Company No. CE016294
Trustees' Report and Unaudited Accounts
31 January 2023
The Bar Gym Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash flows | 8 | |
| Notes to the Accounts | 9 to | 14 |
| Detailed Statement of Financial Activities | 15 to | 16 |
Page 1
The Bar Gym 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 January 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. CE016294
Charity No. 1181706
Registered Office
Flat 407 Gilbourne Court Guildbourne Centre Worthing BN11 1LZ
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:
G.W. Burke J. Randall R. Simmons
Accountants
Allan Gee FCCA 9 Waterworks Cottages Hill Barn Lane Worthing West Sussex BN14 9QQ
Bankers
Santander UK Plc 37 Chapel Road WorthingBN11 1ET
OBJECTIVES AND ACTIVITIES
The promotion of community participation in healthy recreation by the provision of facilities and the coaching of fitness techniques and martial arts for the people of West Sussex.
This objective is being achieved through the continuation of a fitness programme for youths and schoolchildren at no cost to the participants.
Stage one is the introduction to general fitness through regular and planned exercise.
Page 2
The Bar Gym Trustees Annual Report
This is then supplemented by an explanation and coaching in the correct use of the fitness machines to help attain a better lifestyle.
Once a participant has demonstrated that these two objectives are fully understood, and that they can be applied sensibly, there is an introduction to martial arts, its uses and activities with an emphasis on how it can improve their general well-being and confidence.
In order to measure, and document, the advancement of a student in understanding and applying the above aims, examinations are held to assess and critique the student's progress.
The charity also benefits through the support of two experienced martial art trainers who have freely given their services.
ACHIEVEMENTS AND PERFORMANCE
This year has seen a steady increase in participants of the fitness programme. To supplement and increase the student's interest and understanding, a martial arts exhibition is held, which achieved a dual purpose: a. raising funds which assist in maintaining the school-aged student programme; and
b. an exhibition of how the martial arts contributes to general fitness and assists in achieving a general well-being.
The positive effects are beginning to bear fruit in that we have attracted new members, especially under 16 years old, as the community becomes more aware of the benefits from our programme.
FINANCIAL REVIEW
The charity does not charge a membership fee but requests that members, who can afford do so, to make a monthly donation to the running costs of the charity. This donation is entirely voluntary and no-one is refused access to the facilities if they do not, or are unable to, contribute. The fund-raising has been significantly improved by the fact that the majority of the members who do contribute have signed for the gift aid relief.
Finally, the trustees thank the public for their continuing support.
PLANS FOR FUTURE PERIODS
The Trustees are confident that we can continue to reach out to the youth of Worthing, and surrounding areas, and introduce and show the advantages of our regular health and fitness programme; with the resultant positive impact this will achieve in personal health and well-being.
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
G.W. Burke Trustee
18 August 2023
Page 3
The Bar Gym Independent Examiners Report
Independent Examiner's Report to the trustees of The Bar Gym
I report to the charity trustees on my examination of the financial statements of The Bar Gym for the year ended 31 January 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity 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 your charity's financial statements as 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. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
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 financial statements to be reached.
Allan Gee FCCA 9 Waterworks Cottages Hill Barn Lane Worthing West Sussex BN14 9QQ 18 August 2023
Page 4
The Bar Gym Statement of Financial Activities
for the year ended 31 January 2023
| Notes Income and endowments from: Donations and legacies 4 Other trading activities 5 Other 6 Total Expenditure on: Other 7 Total Net gains on investments Net expenditure 8 Transfers between funds 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 |
Unrestricted funds 2023 £ 86,230 2,250 - |
Total funds 2023 £ 86,230 2,250 - |
Total funds 2022 £ 51,006 4,920 14,096 |
|---|---|---|---|
| 88,480 96,177 |
88,480 96,177 |
70,022 88,458 |
|
| 96,177 - |
96,177 - |
88,458 - |
|
| (7,697) - |
(7,697) - |
(18,436) - |
|
| (7,697) | (7,697) | (18,436) | |
| (7,697) 28,889 |
(7,697) 28,889 |
(18,436) 47,325 |
|
| 21,192 | 21,192 | 28,889 |
Page 5
The Bar Gym Summary Income and Expenditure Account
for the year ended 31 January 2023
| Income Gross income for the year Expenditure 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 |
2023 £ 88,480 88,480 89,555 6,622 96,177 (7,697) (7,697) |
2022 £ 70,022 |
|---|---|---|
| 70,022 | ||
| 82,358 6,100 |
||
| 88,458 | ||
| (18,436) | ||
| (18,436) |
Page 6
The Bar Gym Balance Sheet
at 31 January 2023
| Company No. CE016294 Notes 2023 £ Fixed assets Tangible assets 10 17,444 17,444 Current assets Debtors 11 2,000 Cash at bank and in hand 1,748 3,748 Creditors:Amount falling due within one year 12 - Net current assets 3,748 Total assets less current liabilities 21,192 Net assets excluding pension asset or liability 21,192 Total net assets 21,192 The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds 21,192 21,192 Reserves 13 Total funds 21,192 |
2022 £ 24,066 |
|---|---|
| 24,066 4,148 1,095 |
|
| 5,243 (420) |
|
| 4,823 28,889 |
|
| 28,889 | |
| 28,889 | |
| 28,889 | |
| 28,889 | |
| 28,889 |
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 January 2023 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 18 August 2023
And signed on its behalf by:
G.W. Burke Trustee 18 August 2023
Page 7
The Bar Gym Statement of Cash flows for the year ended 31 January 2023
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease in trade and other receivables Decrease in trade and other payables Net cash provided by/(used in) operating activities Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2023 £ (7,697) 6,622 2,148 (419) 654 - - 654 1,095 1,749 1,748 1,748 |
2022 £ (18,436) 6,100 10,421 (3,243) |
|---|---|---|
| (19,254) | ||
| 6,422 | ||
| - | ||
| (12,832) | ||
| 14,642 | ||
| 1,810 | ||
| 1,095 | ||
| 1,095 |
Page 8
The Bar Gym Notes to the Accounts
for the year ended 31 January 2023
- 1 Accounting policies
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 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.
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 9
The Bar Gym Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Equipment 25% straight line
The majority of the equipment used by the charity is owned by a company domiciled in West Sussex. The equipment is leased to the charity for a nominal charge of £1 per annum.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
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 any trade discounts due.
Page 10
The Bar Gym Notes to the Accounts
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Other trading activities Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 51,006 4,920 14,096 70,022 88,458 88,458 (18,436) (18,436) (18,436) 47,325 28,889 |
Total funds 2022 £ 51,006 4,920 14,096 |
|---|---|---|
| 70,022 88,458 |
||
| 88,458 | ||
| (18,436) | ||
| (18,436) | ||
| (18,436) 47,325 |
||
| 28,889 |
Page 11
The Bar Gym Notes to the Accounts
4 Income from donations and legacies
| 5 Income from other trading activities Fundraising 6 Other income Covid grants 7 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. |
Unrestricted £ 86,230 86,230 Unrestricted £ 2,250 2,250 Unrestricted £ 44,116 36,264 6,622 8,825 350 96,177 2023 £ 6,622 2023 44,116 44,116 |
Total 2023 £ 86,230 86,230 Total 2023 £ 2,250 2,250 Total 2023 £ - - |
Total 2022 £ 51,006 |
|---|---|---|---|
| 51,006 | |||
| Total 2022 £ 4,920 |
|||
| 4,920 | |||
| Total 2022 £ 14,096 |
|||
| 14,096 | |||
| Total 2023 £ 44,116 36,264 6,622 8,825 350 96,177 |
Total 2022 £ 37,202 37,799 6,100 7,007 350 |
||
| 88,458 | |||
| 2022 £ 6,100 2022 37,202 |
|||
| 37,202 | |||
Page 12
The Bar Gym Notes to the Accounts
10 Tangible fixed assets
| Cost or revaluation At 1 February 2022 At 31 January 2023 Depreciation and impairment At 1 February 2022 Depreciation charge for the year At 31 January 2023 Net book values At 31 January 2023 At 31 January 2022 11 Debtors Trade debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Trade creditors Accruals 13 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds |
At 1 February 2022 28,889 28,889 |
Equipment £ - - - - - - - 2023 £ - 2,000 2,000 2023 £ - - - Incoming resources (including other gains/losses ) £ 88,480 88,480 |
£ 32,673 32,673 8,607 6,622 15,229 17,444 24,066 Resources expended £ (96,177) (96,177) |
Total £ 32,673 |
|---|---|---|---|---|
| 32,673 | ||||
| 8,607 6,622 |
||||
| 15,229 | ||||
| 17,444 | ||||
| 24,066 | ||||
| 2022 £ 148 4,000 |
||||
| 4,148 | ||||
| 2022 £ 419 1 |
||||
| 420 | ||||
| At 31 January 2023 £ 21,192 |
||||
| 21,192 |
Page 13
The Bar Gym Notes to the Accounts
14 Analysis of net assets between funds
| 14 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 February 2022 £ |
Unrestricted funds £ 17,444 3,748 21,192 Cash flows £ |
Total £ 17,444 3,748 |
| 21,192 | |||
| At 31 January 2023 £ |
|||
| 1,095 | 653 | 1,748 | |
| 1,095 1,095 |
653 653 |
1,748 | |
| 1,748 |
0 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
The Bar Gym Detailed Statement of Financial Activities
for the year ended 31 January 2023
| Income and endowments from: Donations and legacies Other trading activities Fundraising Other Covid grants Total income and endowments Expenditure on: Employee costs Salaries/wages Premises costs Rent Light, heat and power Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Equipment Depreciation of Equipment leasing and hire charges Equipment repairs and maintenance General insurances Information and publications Software, IT support and related costs Sundry expenses Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs |
Unrestricted funds 2023 £ 86,230 86,230 2,250 2,250 - - 88,480 44,116 44,116 24,000 9,014 3,250 36,264 - 6,622 2,822 2,750 1,997 - 911 345 15,447 350 350 96,177 |
Total funds 2023 £ 86,230 86,230 2,250 2,250 - - 88,480 44,116 44,116 24,000 9,014 3,250 36,264 - 6,622 2,822 2,750 1,997 - 911 345 15,447 350 350 96,177 |
Total funds 2022 £ 51,006 |
|---|---|---|---|
| 51,006 | |||
| 4,920 | |||
| 4,920 | |||
| 14,096 | |||
| 14,096 | |||
| 70,022 37,202 |
|||
| 37,202 | |||
| 22,000 7,672 8,127 |
|||
| 37,799 | |||
| - 6,100 2,505 2,171 1,680 300 - 351 |
|||
| 13,107 | |||
| 350 | |||
| 350 | |||
| 88,458 |
Page 15
The Bar Gym Detailed Statement of Financial Activities
| The Bar Gym Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
96,177 - (7,697) (7,697) - (7,697) 28,889 21,192 |
96,177 - (7,697) (7,697) - (7,697) 28,889 21,192 |
88,458 - |
| (18,436) | |||
| (18,436) - |
|||
| (18,436) | |||
| 47,325 | |||
| 28,889 |
Page 16