REGISTERED CHARITY NUMBER: 1205246
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 04 JUNE 2023 - 31 JULY 2024
FOR
DYNASTY REIGN ALLSTARS
Cornfield Accountants Limited Chartered Accountants 5 Cornfield Terrace Eastbourne East Sussex BN21 4NN
DYNASTY REIGN ALLSTARS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
DYNASTY REIGN ALLSTARS
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2024
OVERVIEW
Dynasty Reign Allstars was registered as a Charitable Incorporated Organisation (CIO) in June 2023. The charity’s purpose is to advance the amateur sport of cheerleading in East Sussex for public benefit through the provision of participation facilities and activities for individuals aged 4 and above.
STRCUTURE, GOVERNANCE, AND MANAGEMENT
How the charity is constituted
Dynasty Reign Allstars is a Charitable Incorporated Organisation. The charity is governed by a deed of trust and trustees are selected or re-appointed at the Annual General Meeting (AGM) held in November. Membership is open to all children and young adults who meet basic safety and instructional requirements. The charity follows safeguarding policies, with all trustees and coaches undergoing DBS checks.
Trustees serving during the period
-
Nadine Best
-
Louise Harding
-
Becky Duly
-
Debbie Sinfield
In February 2024, the charity employed a CEO and programme director. From this date, Becky Duly no longer participates in any decisions that involves the CEO, due to them being a connected person. This was agreed by the remaining trustees.
Public Benefit Statement
The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. All activities undertaken by Dynasty Reign Allstars are aimed at promoting participation in cheerleading for physical, social, and mental well-being. The charity’s programmes are inclusive and designed to provide equal opportunities for all, particularly focusing on youth development and social inclusion through sport.
Objectives and Activities
The core mission of Dynasty Reign Allstars is to promote social welfare by providing cheerleading, gymnastics, and physical activities to the inhabitants of St. Leonards and surrounding areas, with a focus on improving their condition of life. Key objectives include:
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Advancing cheerleading for public benefit.
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Providing opportunities for personal and athletic development.
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Promoting social inclusion for economically disadvantaged individuals and their families.
ACHIEVEMENTS AND PERFORMANCE
Membership
In the year ending 31 July 2024, the charity served 95 members (55 competitive athletes and 40 recreational athletes), with teams spanning various age groups from 4 to 21. The athletes were structured in the following teams:
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Tiny Novice Level 1 aged 4-6
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Mini Novice Level 1 aged 7-8
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Youth Novice Level 1 aged 9-11
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Allstar Youth Level 1 aged 8-12
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Allstar Junior Level 1 aged 9-14
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Allstar Senior Level 1 aged 12-21
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Development Junior Level 2 aged 11-14
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4-6 years Recreational Team
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7-8 years Recreational Team
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9+ years Recreational Team
Page 1
DYNASTY REIGN ALLSTARS
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2024
Competition Achievements
During the season the teams achieved amazing results:
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Allstar World Championships- 4th out of 42
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Elite teams - 12 x 1st places and 6 x 2nd places
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Grand champion titles - 4
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Judges choice awards - 2
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Phenomenal performance award - 1
-
National champion titles - 6
3 teams secured Allstar world championships 2025 bids, 2 teams secured Nfinity finals 2025 bids and 3 teams won a place competing in the Battle of champions 2025.
Novice teams - 5 x 1st, 2 x 2nd, 2 x 3rd, 2 x outstanding awards and 2 x superior awards
Volunteer Contributions
The charity’s success is built on the hard work of its dedicated volunteers, including coaches, junior coaches, and supportive parents.
FINANCIAL REVIEW
Financial Position
The charity closed the financial year with reserves of £13,704, primarily held for the employment of a programme development manager and for future growth. The funds are used to ensure operational security, meet unforeseen expenditures and support capital purchases for gym equipment.
Reserves Policy
Dynasty Reign Allstars holds funds to secure ongoing operations in case of reduced income, unexpected costs and to fund capital expenditures and support schemes for members facing financial difficulties.
Risk Management
During the 2023-2024 period, the trustees identified several potential risks to the charity’s operations, including:
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Financial Risk: The trustees ensured prudent financial management by maintaining a reserves policy and monitoring cash flow to safeguard against unexpected drops in income.
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Safeguarding Risk: The charity followed strict safeguarding policies, with DBS checks and safeguarding officers in place. Trustees worked closely with coaches to ensure that all activities are conducted in a safe environment.
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Operational Risk: As the charity expanded, managing the increasing number of members and teams presented logistical challenges. To mitigate this, Dynasty Reign Allstars developed structured coaching programmes and ensured that volunteers were well-trained to handle the workload.
Future Focus and Strategic Development
Dynasty Reign Allstars is committed to long-term growth, both in terms of membership and the professional development of its staff. Future plans include:
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Employing a full-time Head Coach to lead and oversee all training programmes and competitions.
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Qualifying six junior coaches and providing formal certifications for two assistant coaches, ensuring a strong leadership pipeline for the future.
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Expanding the charity’s reach by promoting cheerleading in local schools and community centres, encouraging broader participation.
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Increasing fundraising efforts to ensure financial sustainability and continued investment in equipment and facilities.
Page 2
DYNASTY REIGN ALLSTARS
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2024
Trustee and Staff Development
Dynasty Reign Allstars has taken significant steps to enhance its leadership and coaching structure. In February 2024, Ashleigh Rowe was employed as the CEO Programme Director, a pivotal role responsible for overseeing all aspects of the charity’s operational and coaching programmes. This full-time position has allowed the charity to professionalise its operations, ensuring the long-term development and sustainability of the organisation. Additionally, plans are underway to qualify six junior coaches and provide further development opportunities for two assistant coaches, strengthening the coaching infrastructure for future growth.
Looking ahead, the charity aims to:
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Employ a full-time Head Coach to oversee day-to-day training and operations.
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Support six junior coaches in gaining formal qualifications, ensuring they are equipped to lead future teams.
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Provide further development opportunities for two assistant coaches to strengthen the coaching infrastructure.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1205246
Principal address
Robsack Centre Bodiam Drive St. Leonards-on-Sea TN38 9TW
Trustees
R Duly D Sinfield N Best L Harding
Independent Examiner
Cornfield Accountants Limited Chartered Accountants 5 Cornfield Terrace Eastbourne East Sussex BN21 4NN
Page 3
DYNASTY REIGN ALLSTARS
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
26 Oct 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Ms D Sinfield - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DYNASTY REIGN ALLSTARS
Independent examiner's report to the trustees of Dynasty Reign Allstars
I report to the charity trustees on my examination of the accounts of Dynasty Reign Allstars (the Trust) for the period ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust'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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Cornfield Accountants Limited
Shaun Muller FCCA ACA Cornfield Accountants Limited Chartered Accountants 5 Cornfield Terrace Eastbourne East Sussex BN21 4NN 28 Oct 2024
Date: .............................................
Page 5
DYNASTY REIGN ALL STARS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2024
| 2024 | ||
|---|---|---|
| Unrestricted | ||
| funds | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Fees and memberships | 102,395 | |
| Investment income | 2 | 146 |
| Total | 102,541 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Development, launch and delivery of sporting | ||
| activities | 59,780 | |
| Support Costs | 29,057 | |
| Total | 88,837 | |
| NET INCOME/(EXPENDITURE) | 13,704 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | - | |
| TOTAL FUNDS CARRIED FORWARD | 13,704 |
The notes form part of these financial statements
Page 6
DYNASTY REIGN ALLSTARS
BALANCE SHEET 31 JULY 2024
| 2024 | |||
|---|---|---|---|
| Unrestricted | |||
| funds | |||
| Notes | £ | ||
| FIXED ASSETS | |||
| Tangible Assets | 5 | 8,725 | |
| 8,725 | |||
| CURRENT ASSETS | |||
| Debtors | 6 | - | |
| Cash at bank | 34,240 | ||
| 34,240 | |||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (29,261) | |
| NET CURRENT ASSETS | 13,704 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 13,704 | ||
| NET ASSETS | 13,704 | ||
| FUNDS | 8 | ||
| Unrestricted funds | 13,704 | ||
| TOTAL FUNDS | 13,704 | ||
| 26 Oct 2024 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Ms D Sinfield - Trustee
The notes form part of these financial statements
Page 7
DYNASTY REIGN ALLSTARS
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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
There are no material uncertainties that cast doubt on the charity's ability to continue as a going concern.
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.
Taxation
The charity is exempt from 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |
|---|---|
| 2024 | |
| £ | |
| Deposit account interest | 146 |
| 146 |
continued...
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DYNASTY REIGN ALLSTARS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 July 2024.
Trustees' expenses
2024 £ Trustees' expenses 63
During the period, four Trustees were reimbursed expenses which were incurred wholly, exclusively and necessarily in the performance of their duties as a Trustee.
4. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the period was as follows: Executive staff |
2024 £ 15,000 178 |
|
|---|---|---|
| 15,178 | ||
| 2024 1 1 |
No employees were paid emoluments more than £60,000.
5. TANGIBLE ASSETS
| Cost As at 04 June 2023 Additions As at 31 July 2024 Depreciation As at 04 June 2023 Provided during the period As at 31 July 2024 Net Book Value As at 31 July 2024 |
Computer Fixtures Plant & Equip & Equip Machinery £ £ £ - - - 1,203 315 10,250 1,203 315 10,250 - - - 401 79 2,563 401 79 2,563 802 236 7,687 |
Total £ - 11,768 |
|---|---|---|
| 11,768 | ||
| - 3,043 |
||
| 3,043 | ||
| 8,725 |
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DYNASTY REIGN ALLSTARS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2024
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 7.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Trade creditors Social security & PAYE creditor Other loans Accruals |
2024 £ - 2024 £ 168 12,192 1,050 15,011 840 29,261 |
|---|---|
8. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 4/6/23 | in funds | 31/07/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | 13,704 | 13,704 |
| TOTAL FUNDS | - | 13,704 | 13,704 |
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 102,572 | (88,837) | 13,704 |
| TOTAL FUNDS | 102,572 | (88,837) | 13,704 |
9. RELATED PARTY DISCLOSURES
A loan was introduced by a member of staff amounting to £15,011 which is repayable on demand.
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DYNASTY REIGN ALLSTARS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2024
| 2024 | |
|---|---|
| £ | |
| INCOME AND ENDOWMENTS | |
| Charitable donations | 20,010 |
| Fees and Memberships | |
| Monthly and competition fees | 77,712 |
| Membership income | 4,673 |
| 102,395 | |
| Investment income | |
| Deposit account interest | 146 |
| 146 | |
| Total incoming resources | 102,541 |
| EXPENDITURE | |
| Charitable activities | |
| Advertising and marketing | 68 |
| Competition fees | 20,522 |
| Competition travel costs | 4,546 |
| Direct expenses | 699 |
| Music | 1,518 |
| Salaries | 15,000 |
| Pensions | 178 |
| Travel | 4,032 |
| Uniform expenses | 13,217 |
| 59,780 | |
| Support costs | |
| Premises | |
| Cleaning | 595 |
| Rent | 18,903 |
| Repairs & Maintenance | 132 |
| Storage | 1,219 |
| 20,849 |
This page does not form part of the statutory financial statements
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DYNASTY REIGN ALLSTARS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2024
| Management | |
|---|---|
| Accountancy | 840 |
| Entertainment | 288 |
| 1,128 | |
| Finance | |
| Bank charges | 46 |
| Governance costs | |
| Computer costs | 259 |
| Depreciation of Computer equipment | 401 |
| Depreciation of Fixtures and Fittings | 79 |
| Depreciation of Plant and machinery | 2,562 |
| General expenses | 1,508 |
| Insurance | 1,312 |
| Printing & Stationary | 12 |
| Staff training | 798 |
| Subscriptions | 103 |
| Total resources expended | 88,837 |
| Net (expenditure)/income | 13,704 |
This page does not form part of the statutory financial statements
Page 12
Issuer
Issuer Cornfield Accountants Limited Document generated Fri, 25th Oct 2024 16:00:23 BST Document fingerprint c8f5be385521c7a2a6349581f585a933
Parties involved with this document
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Ms Debbie Sinfield - Signer (18025d4305792d05fd764348de08e31b) Shaun Muller - Signer (cc7853318a20c01d508066fba961d119) Thomas Ford - Copied In (74ecf45d214acc331de1ab24e1a3460c)
Audit history log
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Envelope generated with fingerprint a36093ed30a1d8df44e85097fd0d623418.133.63.166 Document generated with fingerprint c8f5be385521c7a2a6349581f585a933.18.133.63.166 Document generated with fingerprint b0a21d85aa9f59ac350a636bed482237.18.133.63.166 Ms Debbie Sinfield has been assigned to this envelope.18.133.63.166 Shaun Muller has been assigned to this envelope.18.133.63.166 Thomas Ford has been assigned to this envelope.18.133.63.166 Envelope generated Sent the envelope to Ms Debbie Sinfield for signing Document emailed to party email3.8.202.77 Ms Debbie Sinfield viewed the envelope104.28.86.115 Ms Debbie Sinfield viewed the envelope137.116.65.95 Ms Debbie Sinfield viewed the envelope104.28.86.115 Ms Debbie Sinfield signed the envelope104.28.86.115 Sent the envelope to Shaun Muller for signing104.28.86.115 Document emailed to party email3.8.84.58 Ms Debbie Sinfield viewed the envelope104.28.86.115 Shaun Muller viewed the envelope185.43.78.13 Shaun Muller signed the envelope185.43.78.13
Mon, 28th Oct 2024 9:01:50 GMT Mon, 28th Oct 2024 9:01:50 GMT Mon, 28th Oct 2024 9:01:51 GMT Mon, 28th Oct 2024 9:01:51 GMT
Sent the envelope to Thomas Ford for signing185.43.78.13 This envelope has been signed by all parties185.43.78.13 Document emailed to party email18.132.200.248 Shaun Muller viewed the envelope185.43.78.13