*LEISUAf Gamlingay Leisure (Community Gym and MUGA) CIO TRUSTEES. REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2023 Chartty Registration No. 1197794 CIO RegistratK)n No. CE028156
GAMLINGAY LEISURE CIO REPORT AND FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2023 Contents Page Chair's Report Trustee's Report Independent Examiners RefX)rt Statement of Financial Actwtbes Balance Sheet Notes lo the Financial Statements
GAMUNGAY LEISURE CIO Chairfs Report 2023 has seen Gamlingay Leisure go from strength to strengthl Our membership continls to exceed our busbness plan and. as a result, we have been able to invest in the Bym and our Servi prowsion. We have not only continued to invest in repl3ment equipment, but we have also replaced the air conditioning which, frankly, gave up the ghost on us during this summerfs heatl We have grown our freelance staff. with Brnndon Joining Jo as our second qL¢alified instrurtor. Our volunteer groijp have remained faithful to our cause and the leadership team main hugely grateful to the community who support us. There has been some change in the trustee group, all of which will be noted in the report attached. I am delighted with progress and look forward to what next year brings. S Fisher Chair of Trustees 12 july 2024 Page I
GAMLINGAY LEISURE CIO Report of the Trustees for the year ended 31st December 2023 The Trusteès are pleased to present their report together with the financial stateTnents of the CIO for the year er*din8 31# December 2023. Referen and adminlstrative detai15 Charity name: Gamlingay Leisure Icommunity Gym & MUGAI Charity number= 1197794 Registered Office: Gamlingay Village Primary Sd01. Station Road, Gamlingay SG19 3HA Bankers= HSBC Bank Plc. Independent Examiner: lan Parker. Partow Associates Ltd. Trustee5 The Trustees servin8 during the year were ès folh)ws: Mr S Fisher Chair Mr R Petch Trustee Mrs S Cousins Trustee Mr 5 Cousins Trustee Ms M Aitchewn Trustee The trustees offertheir time on an entirely voluntary basi5 and receive no remuneration. grntis or sub5idised membership by virtue of their p)sition. Structure and Governance Governlng Document The organisation is a Charitable Incorporated Organisation and vrds rÈRistered with the Charities Commission on 4 February 2022. Recruitment and Appolntment of Trustees Trustees appointed will servè a minimum term of 2 years. No limit is set to the tlme an individual can serve as a trustee. Trustee inductson and training New Trustees are genetslly already familiar with the practsc31 work of the charity having lived in the tommunity in which we operate. Additionally, new Trustees are invited and entouraged to attend a briefing lof no more than an hourl to familiarise themselves With the charity and the context within which it operates. Trustees are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Or8ani5ational strture The trL¢Stees meet regular (usually once a monthl and are resTM)nsible for the strategic direction and policy of the charity. The trustees hail from a variety of professional back8round5. wh4ch provide a good mix of experience to various roles required to run the charity. Page 2
GAMUNGAY LEISURE CIO Communlty Support The charity has a close relationship wtth Gamlingay Parish Council and South Cambrid8eshire Distrirt Council in that all organisations are working towards improwng life for the local community. Both parties, along with several local bUnesSeS have provided essential grants and donations which has supported our growth objectives and 3rtNety promotes the work of the charity. Rlsk managèment Whilst the charity does not have a requirement to perform a risk assessment, due to its income falling below the required threshold. the tnjstees feel that it is good prattice to perform one and havè undertaken a risk assessment on all acttvities. The charivs risk assessment policy is reviewed annually and is publicly available to thjwnload from our website. A hard copy can be made available on request. Objerttves and activities The objects of the charity are.. The advancement of education Physical education and development of young people The advancement of health or the sawng of lives Charities that promote activitle5 that have a proven beneficial effect on he8h The advancement of crtizenship or community development The promotion of urban and rural regeneration The promotioft of volunteering Thè promotion of the voluntary sector The advancement of amateur sport Charities advancing sport at a local club, e.g. local football, rugby, tennis clubs etc. & multisport ntre$ Other organisations concemed with the promotion of a particular amateur sport or garne Fundi In 2023, we were able to secure small grant award5 from various sources. These ineluded.. Co-op £1.2C(J Customer dividend to charity South Cambs Distritt Counal £ 9(M) Staff training Community Chest Grant £2,OCK) Equipment enhaTrment We continue to seek and apply for funding opportunities to improve our environment and service. Financial Revlew For the year to 31st December 2023, the charity had a total income of £67.981. Most of this is derived dirertly fmm member subscriptions and MUGA hire to local football clubs. At the end of the year. the charTty had rÈserves of £24.278, wtth more than 50% of this already allocated to the PLtrchase of new" equipment and upgrade to the building infrastructure. • The equipment is new to us. but purchased as refurbished used equipment, in line with our sustainable procurement policv Page 3
GAMUNGAY LEtSURE CIO Lease A 5-year lease was signed with the owner of the property from which the CIO operate5, the CAM Academy Trust, dated 16 May 2022. It runs to 10 April 2027 with a rent review on 16 May 2025. It is anticipated that the lease term will be extended at the end of the current lease period. subject to DfE consent. for a further 5 yÈars. Reserves Poltcy and Sinknng Fund The charity is also responsible for the managèment of the Multi-use Games Area IMUGAI located in the grounds of the school. A5 a part of the lease agreement wwth the landlord. the CAM Academy Trust, the charity has agreed to contribute to a sinking fijnd which will generate the capital required to contribute to the resurfacing of the MUGA at the end of the life of the surface (typically 10 years). As a result, the charity will set up a restricted fund reserve into which an agreed total sum of £22,500 will be paid from year4 of the lease onwards. The tem)s of the sinking fund are laid out i the lease contract and a subsequerht side agement and, in order to support the set-up of the gvm, the landlord agreed to defer any contribution for the first 4 year5. Trurtee< responsibilitles in relation to the financial statements Company law requires the Trustees to prepa financial statements that give a true and fair view of the state of affairs of the tharity at the end of the financial yearand of tts surplus or defictt for the financial year. In doing so the Tnjstees are required to= Select suttable accounting pollcies and then apply them consistently; Make SOLsnd judgements and estimates that are reasonable and prudent,. and Prepare the financial statements on the going concern basis unless it is approprtate to prèsume that the charÈty will contsnue in business. The Trustee5 are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial ststements comply with the Companie5 Art 198S. The TnJstees are also responsible for safeguarding the assets of the charity and he for taking reasonable step5 for the prevention and detection of fraud and other irregularitie5. Approved by the trustees on 12 ju 2024 a¥HI signed on their behalf by: Simon Fisher Chair Page 4
GAMLINGAY LEISURE CIO Independent examinerfs report to the trustees of Gamlingay Leisure Charitable Incorporated Organisation ('the CIO,) I report to the tharitytrustees on my examination of the accounts of the CIO for the period ended 31 December 2023 as set out on pages 6 to 9. Responsibilities and basis of report As the charf(y trustees of the CIO you are responsible for the preparation of the accounts in accordan wtth the requirements of the Charities Act 20111.the ACVI. I report in respert of my examination of the Clo's accounts carried out under etiOn 145 of the Act. In carrying out my examination, I h3¥e followed all applicable directions given by the Charity Commi55ion under section 1451Sllbl of the 2011 Art. Independent examlnerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examinatton giving me cause to tlIeve that in any material respect=111 atcounting records were rt kept a5 required by section 130 of the Act,. or121 the accounts do not atcord with those records. I confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Si8ned= lan G Parker FCA Chartered Accountant Parlow Associates Ltd. PO Box 103 Gamlingav Sandy SG19 3ZQ 12 July 2024 Page S
GIMLWGAY LEISURE CIO STATEMEvf OF FINANCIAL ACTIVITIES oratin INCOME AND EXpENDuRE ACCOU inco YEAR TO 31 DECEMBER 2023 2022 Tolal Funds UreStr1•j Furxts Total Ineome Irom.. Donations 8J1£gS ChantatA& activJties 5.708 20,959 24,060 Tolal income 67.981 45,019 EMpenditUTe on: CharitsNe acbvibes veinarte costs 25,317 Total ex11 63.045 MOVEMENT IN FUNDS 19 42 Tow hJThts tKouJht fon¥ard at 1 Jarnw 2023 19.342 19.342 Total fund$ * 31 Decem 2023 24.278 24278 19 42 l irtorM and extituTe is Unrestrt•a. The noies on pages 8-9 lorm part of Ihese firwial 51aterrErts. Page 6
GAMU YLE RE CIO BALANCE SHEET ASAT31 D MBER 2 31 Dècember 2022 FIXED ASSErs Tangible assets 3.797 3,728 CURRENT ASSErs Cash at bank and in haryj 174 CURRENT LIABILMES CreLIEtors and acCruS NET CURRENT ASSETS 15,614 TOTAL ASSErs 24.278 19342 TOTAL FUNDS: UnrestllcM FurK 19,342 19,342 The notes on pages 8-9 fom7 part ol Ilw financaal statemerrt& ON BEHALF OF THE TRUSTEES: S Fisher Trustèè 12 July 2024 PaJe 7
GAMUNGAY LEISURE ao NOTES TO THE FINANCIAL STATEME YEAR TO 31 DECEMBER 20ZJ ACCOUNnNG POLICIES lal 88$ts ol preparation The financial statement5 have kfftn p• urKkrthe tystoiic w5t (x)nvÈntion. The finan¢ial statements have Lw) prepar&Y in accordan ilh Finar RepDtbrNJ Starthrd IFRSI 102 and other aACab a¢¢ounbrvJ standartLs arnl on aAr¥j cor b Ibl Incomlng resources All incomirKJ resourw are srtihY8d in thÈ Stsmient of Athe$ when the CIO ts entilled to the arKS the arTwnt can quantified th reasonabl8 aGCUta¢y. folloiThJ wifi¢ 1leS are partirJJlar cat9g0$ of Irwme: . Voluntary irwT is re(¢ved by wof granls, dJnatiLWS is irth¥ in full In th8 Statement ot Finanoal Aciiviti8s wlw rthe. . Grants are recognised in fuu in the statement of FinaThial kbvibes the year in they are rerNable. . Investment income is ILth1 r¥219. 1¢) Resources expended l experK1iture recL%Jnised in the Fer)J in whrh Irrre(l arKI. a¢u)unted foron an a(xyuals basis. This ha5 then been daSSiti untsr hea¢ws that jgree al wsts rdated tt) the rAtegory. GharitaNe exp8n(Jitur8 1xJMlses1Iw costs in¢xJrred byttE CK) in the dl¥ery of its actNitre5 aA1 servkTrs for its berfK4arie5. tt indules twxh wsts that be k)catal ¢recUy 10 such activ¢t arKI Ihose Costs 01 an indirert nature nece5saryto [p)rt tsm. Idl TanglblÈ Ilxed assets TangitrAe fixed a55ets a aYXAmtwJ forat Q)Sl. Dew•iaiM)n És wovhledat pa on a stwht tqss. le} Cash Fkni Stytement ThÈ financi statements do Ml ithJ8 a Fhy Statement bae C. as delir by FRS102. is expt from wirerrErn to prepare a slateftnt. STATUS Th8 CIO is r&Jisterth1 in Erw Corrws HLKtsÈ number CEtr28156 arKI Ihe Charity ComftlDn nurrer 1197T94. DONATIONS lD LEGACIES Garnlingay Gommunity Tue TTtst Gamlirway Parish Courta Swih Cambridge51ve Dtsbxt CINJ Private donaJor 595 1,9 1.123 9,454 11.505 INCOME FROM CHAR AeTivmES M8rnber5hip subs(xptsons Irthction and other orTre IrK0 Hire of M 48241 7.599 6,433 62273 15,649 5,507 2.904 Page 8
GAMUNGAY LEISURE CK) NOTES TO THE FINANCIAL STATEmETrS YEAR TO 31 DECEMBER 2023 EXPENDrruRE ON cHARABLE ACTivmES FreelarKe coaches AdvertisirKJ arn1 marketrng Supply servi¢x of equipmnt Repairs arKI maintenarte Insurawe Rent utilrf(ies (Yfice aThJ admiThstrativè èxpèr SubscriplK)ns Training Finance charges Professional fees Depieciaiion 21,507 11.722 18,364 3.304 1,175 4,260 7,320 1,753 4,049 670 73 199 217 932 1,182 62,685 GOVEFINANCE COSTS Conwrises: Aceountary aThJ examinatK)n leé TANGIBLE FIXED ASSErs Fixlures, Ilttings and equiwrErt: Cost at 1 JaUary 2023 Additions in the year Cost at 31 De(Xfrtsr 2023 1.251 5.917 4.660 4,660 DetKeciation at 1 January 2023 Derxeciaiion prOvKI in th8 y8ar Deweckity"on at 31 Decents 20¥J 932 1,182 2,114 932 932 Net B(K4( value * 31 C)ec 2tr23 3,797 3,728 cREDORs AND ACCRUALS Aecrued expernses 2.7 RELATED PA5rrY TRANSACTIONS Thè daughter of the trusteos was a lotal of £2,22012022.. £5351 during the year as a freelance trwner. 10. EXPENSES PAID TO TRLWEES DuriThJ thè w"¢Jl. 3 trustee5 rece1 r8irrtMjtseI ol eypenses arrA)unb"ng to £2.93212022'. £1.1 11. LEASE AND OTHER COMMTfMErirs A 5-year lease was SrIed with the OWr ol the Us1 by ts CIO, The CAM Academy Trust. dated 16 May 2022, erNJing 10 Aw"12027. Ther8 is an annu comrnitment urKl8t the lease of £5,5(M) plus VAT subject to review on 16 May 2025. Under the 18rms ol the lease, a"sinking fuThl" has been established for future TLIfac1r of Ihe MUGA and the CIO will te required to make a ¢0ntrtt to this lurKI from the fourth year of ih818ase onwards in surn of £22,5 in total. It is antIpated that the lease term wll exteThYed. Sub to DfE consenl. for a futher 5 years to capture a fv1111>year tèmi which is equtvalent to the lifetime of the MUGA surface. so the financia eontriLxJtion will be made years 4 and 10. Paoe 9