Company registration number 11811677 Registered charity number 1194966
WIDNES GYMNASTICS ACADEMY Company limited by guarantee
Unaudited Financial Statements for the year ended 28 February 2024
Widnes Gymnastics Academy
Contents of the Financial Statements for the Year Ended 28 February 2024
| Page | |
|---|---|
| Report of the Trustees | 1 - 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 9 |
| Detailed Statement of Financial Activities | 10 |
Widnes Gymnastics Academy Report of the Trustees Year ended 28 February 2024
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2024
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 (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of community participation in healthy recreation for the benefit of the inhabitants of Widnes and the surrounding area, by the provision of facilities and coaching of gymnastics.
Significant activities
We attract gymnasts from Widnes, as well as various areas of Warrington, and aim to provide high quality facilities and gymnastics coaching for all members.
The club was awarded charity status in 2022.
Public benefit
The Charity is open to all children and young people regardless of ethnicity, sexual orientation or ability. Classes are offered from pre-school to young adults. The catchment area within which the club operates is in the top 10% deprivation nationally. The charity continues to offer gymnasts of all ages a safe and secure place to practice and enjoy gymnastics, providing the opportunity to participate in healthy and structured activities.
Volunteers
We continue to rely on a number of volunteers to coach gymnastics, carry out welfare facilities and encourage the older members to get involved with the younger classes, creating a family, nurturing environment. All volunteers are DBS checked. We remain very grateful to parents and friends who give up their time for the benefit of our club and its members.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Our gymnastics programme has been very popular, with over 350 gymnasts benefitting from regular attendance at the daily training sessions. We have been able to enter teams at various age groups around the country and internationally, with fantastic results.
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Widnes Gymnastics Academy Report of the Trustees Year ended 28 February 2024
Fundraising activities
We have used a number of opportunities to generate funds. Sales of clothing has been most successful, as well as raffles, cake sales, our Christmas party and summer sleepover.
Parents and members successfully raised funds in the year through a variety of sponsored events and activities.
FINANCIAL REVIEW
Principal funding sources
The main source of income is from attendance fees and the hosting of events. Overall income rose from £151,228 to £178,652.
Total expenditure was £163,761 (2023 £152,403), leaving a profit of £14,891.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitues a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees are selected for the contribution that they can make to the various activities of the club. This inclues instructing and coaching, welfare of children and professional skills.
Organisational structure
The club is predominantly run by the Head Coach, Victoria Wood, who has the support of a team of coaches, some of whom volunteer their time to the club.
The trustees meet at least four times a year to review the progress of the club and agree future plans for the Charity. At the quarterly meetings various aspects of the running of the club are planned and decisions made.
Induction and training of new trustees
Trustees are given instruction in all aspects of safety, welfare and child protection. Everyone on the board of directos undergoes a CRB check as directed by British Gymnastics
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Widnes Gymnastics Academy Report of the Trustees Year ended 28 February 2024
REFERENCES AND ADMINISTRATIVE DETAILS
Registered company number
11811677 (England and Wales)
Registered charity number
1194966
Registered office
54 Iona Crescent Widnes Cheshire WA8 5AD
Trustees
D Donoghue E Longworth B Smith V Wood
Independent Examiner
Sarah Allen Woodlands Accountancy Limtied 43 Gilderdale Close Birchwood Warrington
page 3
Widnes Gymnastics Academy Independent Examiner's Report to the Trustees For the Year ended 28 February 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2024.
Responsibilities and basis of report
As the Charity's trustees of the Company (and also 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.
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 your charity's accounts as carried out under section 145 of the Charities Act 2001. 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 can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act.
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The accounts do not accord with those records.
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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.
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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 (FRS102)).
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.
Sarah Allen ACCA Woodlands Accountancy Limited 43 Gilderdale Close Birchwood Warrington
Date:
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Widnes Gymnastics Academy Statement of Financial Activities For the Year ended 28 February 2024
| INCOME AND ENDOWMENTS Donations and fundraising Charitable activities Income from fees, sales of clothing and competition entries Total incoming resources EXPENDITURE ON Raising funds Charitable activities Gymnastics events Total NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 2023 Total Total Funds Funds £ £ 12,283 1,715 166,369 149,513 178,652 151,228 35,835 29,675 127,926 122,728 163,761 152,403 14,891 (1,175) 9,369 10,544 24,260 9,369 |
|---|---|
page 5
Widnes Gymnastics Academy Statement of Financial Position As at 28 February 2024
| Notes Fixed assets 5 Current assets Creditors: amounts falling due within one year 6 Net assets Capital and reserves |
2024 2023 £ £ 21,474 7,509 5,933 8,204 4,019 6,344 31,426 22,057 31,426 22,057 |
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NOTES TO THE FINANCIAL STATEMENTS
1. General information
The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is 54 Iona Crescent, Widnes, Cheshire.
2. Average number of employees
The average number of persons employed by the Company during the year was 1 (2023: 1).
Fort the year ending 28 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act relating to small companies.
Directors responsibilities:
-
the members have not required the Company to obtain an audit of its financial statements for the year in accordance with section 476
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the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on and were signed on behalf of the board by:
V WOOD Director
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Widnes Gymnastics Academy Notes to the Financial Statements For the Year ended 28 February 2024
1 ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their own accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is 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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life;
Fixtures, fittings and equipment - 20% reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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Widnes Gymnastics Academy Notes to the Financial Statements For the Year ended 28 February 2024
2 OTHER TRADING ACTIVITIES
| NET INCOME/(EXPENDITURE) | 2024 | 2023 |
|---|---|---|
| Net income/expenditure is stated after charging/(crediting): | £ | £ |
| Depreciation of owned assets | 4,535 | 2,503 |
| Other operating leases | 23,060 | 22,310 |
3 TRUSTEES' REMUNERATION AND BENEFITS
Ms V Wood was paid remuneration of £9,400 (2022: £9,400) during the year in relation to her employment with the Charity.
Trustee's expenses
There were no trustees expenses paid for the year ended 28 February 2024, nor for the year ended 28 February 2023.
4 STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2024 | 2023 | |||
|---|---|---|---|---|
| Trainers | 1 | 1 | ||
| No employees received emoluments in excess of £60,000 |
| 5 TANGIBLE FIXED ASSETS Cost At 1 March 2023 Additions At 28 February 2024 Depreciation At 1 March 2023 Charge for the year At 28 February 2024 Net Book Value At 28 February 2024 At 28 February 2023 |
Fixtures & Fittings £ 13,017 18,500 31,517 5,508 4,535 10,043 21,474 7,509 |
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page 8
Widnes Gymnastics Academy Notes to the Financial Statements For the Year ended 28 February 2024
6 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Other creditors Accrued expenses Corporation tax |
2024 2023 £ £ 1,572 4,772 1,225 350 1,222 1,222 |
| 4,019 6,344 |
7 RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2024
page 9
Widnes Gymnastics Academy Detailed Statement of Financial Affairs For the Year ended 28 February 2024
| INCOME AND ENDOWMENTS Donations, fundraising and sponsorship Charitable activities Income from fees, sales of clothing and competition entries Total incoming resources EXPENDITURE Raising donations and legacies Improvements to property Depreciation Other trading activities Purchases Charitable activities Advertising Travel Small equipment Support costs Wages and subcontractors Other operating leases Rates and water Insurance Telephone Computer costs Subscriptions Cleaning Sundries Management Bank charges Accountancy Total resources expended Net income/(expenditure) |
28.02.24 28.02.23 £ £ 12,283 1,715 166,369 149,513 178,652 151,228 782 - 4,535 2,503 5,317 2,503 30,518 27,172 636 - 13,084 5,957 - - 13,720 5,957 86,576 91,441 23,060 22,310 386 479 242 - 700 560 548 156 279 316 1,272 710 301 176 113,364 116,148 267 123 575 500 842 623 163,761 152,403 14,891 (1,175) page 10 |
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