2023-12-31-accounts - City Of Worcester Gymnastics

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CITY OF WORCESTER GYMNASTICS CIO

Report of the Trustees and Financial Statements for the Year Ended 31 December 2023

REGISTERED CHARITY NUMBER: 1188095

CITY OF WORCESTER GYMNASTICS CIO

for the Year Ended 31 December 2023

	Page
Reference and Administrative Details	1
Report of the Trustees	2
Independent Examiners report	4
Statement of Financial Activities	5
Statement of Financial Position	6
Notes to the Financial Statements	7- 12

CITY OF WORCESTER GYMNASTICS CIO

Reference and administrative details for the Year Ended 31 December 2023

Chairperson Mr Barrie Charles Morgan Trustees Ms Wendy Owen Ms Philippa Clare Morgan Mr James Ian Maitland Ms Rebecca Ann Widdett Ms Carlyn Miller Principal address Eden’s Warehouse Willow Street Worcester WR1 2NL Registered charity number 1188095 Independent Examiner James A Howard FCA FCCA Cooper Parry Advisory Limited Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA

Bankers Lloyds Bank PLC 112 HIGH Street Bromsgrove B61 8EZ

CITY OF WORCESTER GYMNASTICS CIO

Report of the Trustees for the Year Ended 31 December 2023

Trustees of the charity

The trustees present their report with the financial statements of the charity for the Year Ended 31 December 2023. The trustees have adopted the provisions of 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 2019).

The trustees who served throughout the year and up to the date of this report are named on page 1.

Objectives and aims

The charity’s objectives and principal activities are defined by its constitution as follows:

“To foster and promote the community participation in healthy recreation, for the benefit of the inhabitants of Worcestershire and its adjacent counties by the provision of facilities and coaching of gymnastics or other leisure time occupations”.

Public benefit

The trustees have paid due regard to the guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Volunteers

A large part of our organisation is made up of volunteers. The majority of squad coaches also have a full-time job. The volunteers provide the necessary coaching skills to bring forward those gymnastics who show potential. These volunteers give up their time, often up to twelve hours per week, some as many as twenty hours, as well as making weekend trips to regional and national competitions as far afield as Wiltshire, Ipswich and Guildford.

Parents are always willing to assist in weeding and general tidying up to ensure the premises are kept looking smart. They also help out at County and Regional competitions when we are required to host them.

Achievement and performance

Charitable activities

The impact of Covid 19 has continued to have an effect on our financial results for this year. The return of our members was a little slower than we may have hoped but this was mitigated by increases in fees. The increase in Minimum Wage is having a major effect on our wages bill and will continue to do so. This does not only affect those staff on Minimum Wage but pushes up all rates to the highest paid. Inflation has increased expenses and the major increase in energy cost came as an unwelcome surprise, however the trustees have made efforts to maintain or reduce costs and believe that the charity looks forward to fewer constraints as inflation reduces and the economy improves.

CITY OF WORCESTER GYMNASTICS CIO Report of the Trustees forthe Year Ended 31 December 2023 Financial Review Reserves Only a general fund is held. Sufficient resewes are held in the fund to support the charity's operating Costs and enable it to fulfil it5 objectives. Structure overnance and mana ement City of Worcester Gymnastics CIO is a registered Charitable Incorporated Organisation ICIOI. It is governed by a constitution of a Charitable Incorporated Organisation. The charity trustees manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. The board meets regularly to discuss key matters such as finances, policy, coaches and key operational matters and development. dated= ... Ms Philippa Clare Morgan dated.. 21: 10.2014- Ms Rebecca Ann Widdett

CITY OF WORCESTER GYMNASTICS CIO

Independent examiners report for the Year Ended 31 December 2023

I report to the charity trustees on my examination of the accounts of City of Worcester Gymnastics CIO for the year ended 31 December 2023.

This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's 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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

James A Howard FCA FCCA for and on behalf of Cooper Parry Advisory Limited Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA

DATE: ……………………………….

CITY OF WORCESTER GYMNASTICS CIO

Statement of Financial Activities

for the Year Ended 31 December 2023

Note Income from: Donations and legacies 2 Income from charitable activities 3 Grants received 4 Other trading activities 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) before transfers Net movement in funds Reconciliation of funds Fund balance as at 1 January 2021 Total funds carried forward 14	Unrestricted funds 31/12/2023 £ - 338,986 - 8,485 347,470 375,742 375,742 (28,272) (28,272) 119,849 91,577	Unrestricted Funds 31/12/2022 £ 3,111 301,278 4,000 5,750 314,139 339,174 339,174
		(25,036) (25,036) 144,885 119,849

Page 5

CITY OF WORCESTER GYMNA5TIC5 CIO Statement of Financial Posltion as at 310ecember 20Z3 2023 2023 2022 2022 Note Fixed assets T8ngible fixed assets io 29,307 29.307 39,839 39.839 Current assets Debtors Cash at bank and in hand li 26.057 77.682 103,739 20,822 100,779 121,601 Creditors.. amounts falllng due wlthin one year 12 141,4691 141,7461 Net current assets 62,270 79.855 Total assets less current liabilities 91,577 119,694 Funds of the charity.. Unrestricted funds 14 91.577 119.694 91.577 119,694 The financial statements were approved by the board of trustees on by.. and were signed on its behalf Ms Rebecca Ann Widdett Ms Philiippa Clare Morgan Page 6

CITY OF WORCESTER GYMNASTICS CIO

for the Year Ended 31 December 2023

Notes to the Financial Statements

1 Accounting policies

The accounting policies adopted in the preparation of these accounts are:

Basis of accounting

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019; Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011 . The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for a period of 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Income recognition

All incoming resources are recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants receivable

Government and other grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donations

Donations are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Other income

Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the goods have been provided or on completion of the service.

Volunteer time

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Page 7

CITY OF WORCESTER GYMNASTICS CIO

for the Year Ended 31 December 2023

Notes to the Financial Statements

1 Accounting policies (continued)

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the trust's work or for specific projects being undertaken by the charity.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimate residual value, of each asset on a systematic basis over its expected useful life as follows:

Short leasehold - 25% on reducing balance Plant and furniture - 10% on cost Computer equipment - 10% on cost

Pension benefits

The charity operates a defined contribution pension scheme. Contributions payable to the Charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Operating lease rentals

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011

Page 8

CITY OF WORCESTER GYMNASTICS CIO

Notes to the Financial Statements

for the Year Ended 31 December 2023

Accounting policies (continued)

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.

Creditors

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 to settle the obligation can be measured or estimated reliably. These are normally recognised at their settlement amount after allowing for any trade discounts due.

2 Donations and legacies Donations & sponsorships 3 Income from charitable activities Fees Camps Party/Venue hire Other income 4 Grant income Government grants 5 Other trading activities Sale of kit Competition entry	31/12/2023 £ - - 31/12/2023 £ 309,594 7,348 17,435 1,106 3,503 338,986 31/12/2023 £ - - 31/12/2023 £ 8,485 8,485	31/12/2022 £ 3,111
		3,111
		31/12/2022 £ 278,133 4,522 16,368 - 2,255
		301,278
		31/12/2022 £ 4,000
		4,000
		31/12/2022 £ 5,750
		5,750

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CITY OF WORCESTER GYMNASTICS CIO

Notes to the Financial Statements for the Year Ended 31 December 2023

6 Expenditure on charitable activities

Other 7 Net income/(expenditure) for the year Net income/(expenditure) is stated after charging: Operating lease charges - premises Depreciation of tangible fixed assets Independent examiner remuneration Wages and social security Competition entry fees Premises expenses Membership costs Equipment costs Administration costs Bank charges Depreciation Auditors remuneration Course costs	31/12/2023 £ 117,619 207,699 13,736 2,691 9,374 5,716 2,600 1,680 328 2,748 11,551 375,742 31/12/2023 £ 56,490 11,551 1,680	31/12/2022 £ 84,465 204,150 11,706 717 12,307 3,983 5,005 1,680 372 3,083 11,706
		339,174
		31/12/2022 £ 56,490 11,706 1,680

8 Trustee and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2022 - £Nil). No trustees were reimbursed expenses during the year (2022 - £Nil).

9 Staff costs

Gross salaries National Insurance Pension costs Total	2023 £ 174,654 27,150 5,895 207,699	2022 £ 191,149 10,445 2,557
		204,150

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CITY OF WORCESTER GYMNASTICS CIO

Notes to the Financial Statements

for the Year Ended 31 December 2023

The average number of employees during the year was as follows:

2023 68 68 Short Plant and leasehold machinery £ £ 71,985 41,181 - -	2022 68	Total £ 209,122 862
	68
	Fixtures and fittings £ 95,956 862
71,985 41,181	96,818	209,984
71,985 32,944 4,118	64,197 7,433	169,126 11,551
71,985 37,062	71,630	180,677

- 4,119	25,188	29,307
- 8,237	31,759	39,996
2023 £ - 26,057 26,057 2023 £ 41,469 - 41,469	2022 £ - 20,822
	20,822
	2022 £ 41,746 -
	41,746

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CITY OF WORCESTER GYMNASTICS CIO

Notes to the Financial Statements for the Year Ended 31 December 2023

13 Commitments under operating leases

At the year end the charity was committed to making the following total future minimum operating lease payments under non-cancellable operating lease contracts:

Land and buildings

Land and buildings
Within one year Within two to five years inclusive over five years	2023 £ 47,000 43,000 90,000	2022 £ 55,500 90,000
		145,500

14 Movement in funds Unrestricted funds Total funds General fund	Balance at 1 January 2023 Incoming resources Outgoing resources Balance at 31 December 2023 119,849 347,470 (375,742) 91,577
	119,849 347,470 (375,742) 91,577
	119,849 347,470 (375,742) 91,577

15

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