## **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
1
**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.
2
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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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: ……………………………….
4
**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**|
**Page 9**
**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|
**Page 10**
**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:
|Charitable activities
**10 Tangible fixed assets**
**Cost**
Additions
Disposals
As at 31 December 2023
**Depreciation**
Charge for the period
Released on disposal
As at 31 December 2023
**Net book value**
As at 31 December 2023
**11 Debtors**
Other debtors
Prepayments and accrued income
**12 Creditors: amounts falling due within one year**
Other creditors
As at 31 December 2022
As at 1 Janaury 2023
Accruals and deferred income
As at 1 January 2023|**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||
**Page 11**
**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**
**Page 12**