**COMPANY REGISTRATION NUMBER: 00487405 CHARITY REGISTRATION NUMBER: 226127** 

## **Flexercise WLHB** 

## **Company Limited by Guarantee Unaudited Financial Statements** 

**31 March 2022** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Financial Statements** 

## **Year ended 31 March 2022** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**6**|
|Statement of financial activities (including income and||
|expenditure account)|**7**|
|Statement of financial position|**8**|
|Notes to the financial statements|**9**|





## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** 

## **Year ended 31 March 2022** 

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022. 

## **Reference and administrative details** 

**Registered charity name** Flexercise WLHB (formally The Women’s League of Health & Beauty) **Charity registration number** 226127 **Company registration number** 00487405 **Principal office** PO Box 6981 Basingstoke RG24 4GH 

|**Registered office**|c/o Richard Place Dobson||
|---|---|---|
||Chartered Accountants||
||1-7 Station Road||
||Crawley||
||RH10 1HT||
||West Sussex||
|**The trustees**|||
||S Floyd||
||H Jordan||
||C Underhill|(Resigned 27 November 2021)|
||R Jones||
||I Milne (Chair)||
||A Stevenson||
||K Waine|(Resigned 27 November 2021)|
||M Peggie|(Appointed 30 April 2021)|
||G Douglas|(Resigned 24 November 2021)|
|**Founder**|Mary Bagot Stack||
|**Patron**|Sophie Ellis-Bextor||
|**President**|Saba Douglas-Hamilton||
|**Vice Presidents**|Margaret Peggie OBE||
||Rosemary Barber||
||Helen (Pikkie) Smith||
|**Company Secretary**|G Douglas (until December 2021)||
||S Floyd (from January 2022)||
|**Independent examiner**|Thomas McManners BSC ACA ACMI||



**- 1 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **Structure, governance and management** 

## **Governing document** 

Founded in 1930 by Mary Bagot Stack, the League was incorporated as a charity, limited by guarantee and is governed by its Articles of Association, the latest version, approved 27 November 2021. Under the Companies Act 2006 the organisation is permitted to omit the word 'Limited' from its title. Up to end of August 2020 all FLexercise members and teachers automatically had voting rights within the organisation. A portion of their membership fee was passed to the charity. From September 2020 only affiliated teachers and those who have become WLHB members have voting rights within the organisation. 

## **Appointment of Trustees** 

As set out in the Articles of Association, the Trustees are appointed by the members of the Association at annual general meetings. Trustees must retire at annual general meetings at least once every three years. At the end of the third term of their office, they shall automatically step down and may not be reappointed until the expiry of 12 months after the end of their third term of office. The Trustees meet at regular intervals throughout the year. There are several sub-groups, including training, finance and events. 

## **Risk Management** 

The Trustees have examined the major strategic, business and operational risks that the charity faces and confirm that systems have been established to enable reports to be produced so that the necessary steps can be taken to lessen the risks. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the trustees. 

## **Objectives and activities** 

The objectives of the charity are: 

- (a) to promote health, physical fitness, education and training by supporting teachers to provide opportunities for the showcasing of the Bagot Stack exercise system for the public benefit 

- (b) to support teachers, trainers and assessors qualified in the Bagot Stack exercise system 

- (c) to support provision of professional development opportunities for those involved in providing the Bagot Stack exercise system 

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 general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The charity carried out the objectives by the assisted funding of training of teachers and the promotion of physical education in the form of classes etc, all of which are available to the general public. 

**- 2 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **Achievements and performance** 

The COVID pandemic continued throughout the 2021/22 financial year and thus affected face-to-face classes. As the year progressed the face-to face classes returned and some of the teachers, who were teaching electronically during the total closure of classes, have continued to do so giving another dimension to the opportunities of participating in classes, since the locality of a class is not relevant. The teachers who have embraced the electronic means have done so in addition to re-opening their face-to-face classes. 

Our social media presence keeps FLexercise in the public domain. The Marketing & Development Co-ordinator, and Social Media Co-ordinator stepped down at the end of March 2021. A new Social Media Co-ordinator commenced work in November 2021. The website is regularly updated with new blogs (articles), also a class search for FLexercise classes only has been established on the website. 

During the year FLexercise Exercise Essentials courses have continued allowing those qualified to Level 2 or above in other movement and exercise disciplines to learn about our system and either incorporate it in their current work, and/or open FLexercise classes. It was hoped that more FLexercise classes would be opened because of these courses, and though this has not generally been the case, we are glad to welcome a few who have done so and joined the FLexercise family. Last year it was reported that two students who were on the full course, (this being the longest course in recent memory due to the challenges of COVID) have now finished.  One, on completing the course, opened classes in her area. During the year it was decided that future qualification for those new to teaching exercise would be through the Duo system run by EMD UK (Exercise, Movement and Dance UK).  This meant that they would train with them to obtain their level 2 and then take a bolt on in respect of FLexercise. Hence the theory - anatomy, physiology, safeguarding, class planning etc. would be covered by the first part of the course. Three students commenced this course in January 2022. 

Our teachers have been able to benefit from CPD sessions online which have covered many topics and been greatly appreciated. The first face-to-face CPD course since the start of the pandemic was in Torquay at the end of March 2022.  This was well attended and greatly appreciated. 

FLexercise continues to be an Employer and a Training Partner of CIMSPA (Chartered Institute for the Management of Sport and Physical Activity). 

This gives teachers an opportunity to join CIMSPA and enjoy the benefits that they can provide. The FLexercise Essentials Course and CPD are accredited by CIMSPA. 

As reported last year from January 2021 the levy scheme was extended to include all the teachers with FLexercise classes. This provides monthly income of various amounts from teachers depending on the number of classes they teach and the number of participants, since it is a per head, per attendance fee. Though this does not produce as much income as the previous membership system did, it has eased the problem for teachers trying to get participants to be members. The membership scheme also restricted classes to members only. Some teachers had no difficulty with the membership arrangement but that was not the situation across the board.  Whether, with the return to classes after the lockdowns, a membership scheme would have still produced the income to the level of the past is not known, but the likelihood is that it would not have. 

However, those wishing to support the organisation have been able, since January 2021, to join as WLHB members, and as such receive two newsletters a year and have access to the AGM, both to attend and vote. The number of WLHB members from January 2021 - December 2021 was 346. 

**- 3 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

During the year 5 teachers decided to retire, therefore as at March 2022 there were 82 teachers listed as having classes; 14 teachers who would be prepared to relief teach; and 18 who wished to still be involved but with no teaching responsibility. 

As from 1 April 2021 EMD UK no longer managed the operational activities of the organisation under licence as WLHB entered a different partnership with the organisation. This achieved considerable financial savings and all our work is now done In-house. The new arrangement is similar to that of other fitness organisations. Our teachers receive the same EMD UK benefits as before and we have a designated client manager within EMD UK who keeps us abreast of relevant activities and offers support as and when required. To date this has been a very satisfactory arrangement. 

During the year there have been more discussions on the sustainability and future of the organisation. Sessions have been held with the teachers to get their views and support as well as making them fully aware of our future challenges. The main challenges, as has been the case for a long time, are need to have more teachers and how to use the money that is in the reserves. 

The charity has continued to pursue its objectives, as effectively as possible bearing in mind the challenges of the pandemic. 

During the year some of the restricted funds have been exhausted/depleted. The use of these funds has aligned with the restrictions applied to them. As a result the income generated from the operational activities has covered the costs and with only a small deficit. 

**- 4 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **Financial review** 

In 2021/22 there have been no legacies during the year. Donations have fallen into different categories: General fees (including levy payments and WLHB membership) £30,006 (2021 20,530); Other donations of £7,274 (which includes £489 Gift Aid) (2021 £3,083); £301 was raised for the Futures Fund.) Total donations for the year £39,280. 

The 90th Anniversary event in Bath, that should have been held in March 2020 and possibly could have been re-organised for April 2022, was finally cancelled.  Those who had booked accommodation and classes through WLHB received refunds, some of which could not be executed until April 2021 (though related to the 2020/21 Financial Year) because the full refund from the hotel was not received until that time. 

At the end of the year the financial results include voluntary income of £41,644 (including the amounts indicated above) (2021: £55,268). Investment income was £6,390 (2021: £7,026). The total resources expended totalled £47,880 (2021: £111,662). 

## **Reserves Policy** 

The target level of reserves that the charity ought to have in case of the need to disband is £25,000. The rest of the reserves can be used to bridge the funding gap between spending in relation to the charity's expenditure and receiving income. Reserves are also held for any unforeseen expenditure. 

The actual reserves (excluding designated funds and restricted funds) as at 31 March 2022 are £233,883 (2021: £207,961) which exceeds the above amount of £25,000. The Trustees believe that the level of reserves is sufficient for current challenges, though they recognise that it is prudent to ensure that there are sufficient reserves to provide financial flexibility over the longer term. The Trustees continue to review the organisation to assess its sustainability and viability for the years to come 

## **Small company provisions** 

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 

The trustees' annual report was approved on 14 September 2022 and signed on behalf of the board of trustees by: 


Professor Robert Jones (Oct 25, 2022, 10:35am) R Jones Trustee 


Innes Milne (Oct 25, 2022, 5:45pm) I Milne (Chair) Trustee 

**- 5 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Independent Examiner's Report to the Trustees of Flexercise WLHB** 

## **Year ended 31 March 2022** 

I report to the trustees on my examination of the financial statements of Flexercise WLHB ('the charity') for the year ended 31 March 2022. 

## **Responsibilities and basis of report** 

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’). 

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 the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). 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. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 

2. the financial statements do not accord with those records; or 

3. the financial statements 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; or 

4. the financial statements 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 (FRS 102). 

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. 


Thomas McManners BSC ACA ACMI 

Independent Examiner 

TTCA Ltd 

14 September 2022 

**- 6 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Statement of Financial Activities (including income and expenditure account)** 

## **Year ended 31 March 2022** 

||||**2022**||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|39,280|–|**39,280**|27,315|
|Other trading activities|**6**|2,364|–|**2,364**|27,953|
|Investment income|**7**|6,390|–|**6,390**|7,026|
|||`────────`|`────`|`────────`|`────────`|
|**Total income**||48,034|–|**48,034**|62,294|
|||`════════`|`════`|`════════`|`════════`|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and||||||
|legacies|**8**|250|–|**250**|3,921|
|Costs of other trading activities|**9**|27,430|4,367|**31,797**|30,964|
|Expenditure on charitable activities|**10,11**|14,744|1,089|**15,833**|76,777|
|||`────────`|`───────`|`────────`|`─────────`|
|**Total expenditure**||42,424|5,456|**47,880**|111,662|
|||`════════`|`═══════`|`════════`|`═════════`|
|Net gains on investments|**12**|20,312|–|**20,312**|40,273|
|||`────────`|`───────`|`────────`|`─────────`|
|**Net income/(expenditure) and net**||||||
|**movement in funds**||25,922|(5,456)|**20,466**|(9,095)|
|||`════════`|`═══════`|`════════`|`═════════`|
|**Reconciliation of funds**||||||
|Total funds brought forward||207,961|5,456|**213,417**|222,512|
|||`─────────`|`───────`|`─────────`|`─────────`|
|**Total funds carried forward**||233,883|–|**233,883**|213,417|
|||`═════════`|`═══════`|`═════════`|`═════════`|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 9 to 16 form part of these financial statements.** 

**- 7 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Statement of Financial Position** 

## **31 March 2022** 

|||**2022**||2021|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**17**||**421**|–|
|Investments|**18**||**205,474**|235,162|
||||`─────────`|`─────────`|
||||**205,895**|235,162|
|**Current assets**|||||
|Debtors|**19**|**1,648**||980|
|Cash at bank and in hand||**33,492**||53,433|
|||`────────`||`────────`|
|||**35,140**||54,413|
|**Creditors: amounts falling due within one year**|**20**|**7,152**||76,158|
|||`────────`||`────────`|
|**Net current assets**|||**27,988**|(21,745)|
||||`─────────`|`─────────`|
|**Total assets less current liabilities**|||**233,883**|213,417|
||||`─────────`|`─────────`|
|**Net assets**|||**233,883**|213,417|
||||`═════════`|`═════════`|
|**Funds of the charity**|||||
|Restricted funds|||**–**|5,456|
|Unrestricted funds|||**233,883**|207,961|
||||`─────────`|`─────────`|
|**Total charity funds**|**22**||**233,883**<br>`═════════`|213,417<br>`═════════`|



For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 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 question in accordance with section 476; 

- 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 companies subject to the small companies' regime. 

These financial statements were approved by the board of trustees and authorised for issue on 14 September 2022, and are signed on behalf of the board by: 


Professor Robert Jones (Oct 25, 2022, 10:35am) R Jones Trustee 


> Innes Milne (Oct 25, 2022, 5:45pm) I Milne (Chair) Trustee 

**The notes on pages 9 to 16 form part of these financial statements.** 

**- 8 -** 



**Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2022** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o Richard Place Dobson, Chartered Accountants, 1-7 Station Road, Crawley, RH10 1HT, West Sussex. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Judgements and key sources of estimation uncertainty** 

## Significant judgements 

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements consist of the level of income relating to the year, but not yet received to be shown in the accounts. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. 

Restricted funds are subjected to restrictions on their expenditure imposed by the donor. 

**- 9 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

## **Income** 

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

Donations and legacy income are received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. 

## **Resources expended** 

## **Expenditure** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: 

- Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. 

- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

- All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

**- 10 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Fixtures and Fittings - 20% straight line 

## **4. Limited by guarantee** 

The charity is a company limited by guarantee and has no share capital. The liability of each association member in the event of winding up is limited to £10. 

## **5. Donations and legacies** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||**Donations**|||||
||Membership fees|32,006|**32,006**|20,544|20,544|
||**Other donations and legacies**|||||
||Gift Aid|489|**489**|1,001|1,001|
||Other donations|6,785|**6,785**|5,770|5,770|
|||`────────`|`────────`|`────────`|`────────`|
|||39,280|**39,280**|27,315|27,315|
|||`════════`|`════════`|`════════`|`════════`|
|**6.**|**Other trading activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Fundraising activities|2,364|**2,364**|27,953|27,953|
|||`═══════`|`═══════`|`════════`|`════════`|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Income from other investments|6,317|**6,317**|6,869|6,869|
||Bank interest receivable|73|**73**|157|157|
|||`───────`|`───────`|`───────`|`───────`|
|||6,390|**6,390**|7,026|7,026|
|||`═══════`|`═══════`|`═══════`|`═══════`|
|**8.**|**Costs of raising donations and legacies**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Costs of generating voluntary income||250<br>`════`|–<br>`════`|**250**<br>`════`|



**- 11 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **8. Costs of raising donations and legacies** _**(continued)**_ 

||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|
||||Funds|Funds|2021|
||||£|£|£|
||Costs of generating voluntary income||2,211|1,710|3,921|
||||`═══════`|`═══════`|`═══════`|
|**9.**|**Costs of other trading activities**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Fundraising and publicity costs||27,430|4,367|**31,797**|
||||`════════`|`═══════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||Fundraising and publicity costs||30,964|–|30,964|
||||`════════`|`════`|`════════`|
|**10.**|**Expenditure on charitable activities by fund type**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Training and education||7,934|1,089|**9,023**|
||Charitable operational costs||520|–|**520**|
||Support costs||6,290|–|**6,290**|
||||`────────`|`───────`|`────────`|
||||14,744|1,089|**15,833**|
||||`════════`|`═══════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||Training and education||74,157|–|74,157|
||Charitable operational costs||216|–|216|
||Support costs||2,404|–|2,404|
||||`────────`|`────`|`────────`|
||||76,777|–|76,777|
||||`════════`|`════`|`════════`|
|**11.**|**Expenditure on charitable activities by activity type**|||||
|||Activities||||
|||undertaken||**Total funds**|Total fund|
|||directly Support costs||**2022**|2021|
|||£|£|**£**|£|
||Training and education|9,023|–|**9,023**|74,157|
||Charitable operational costs|520|–|**520**|216|
||Governance costs|–|6,290|**6,290**|2,404|
|||`───────`|`───────`|`────────`|`────────`|
|||9,543|6,290|**15,833**|76,777|
|||`═══════`|`═══════`|`════════`|`════════`|



**- 12 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **12. Net gains on investments** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Gains/(losses) on other investment|||||
||assets|20,312|**20,312**|40,273|40,273|
|||`════════`|`════════`|`════════`|`════════`|
|**13.**|**Net income/(expenditure)**|||||
||Net income/(expenditure) is stated after charging/(crediting):|||||
|||||**2022**|2021|
|||||**£**|£|
||Depreciation of tangible fixed assets|||**140**|–|
|||||`════`|`════`|
|**14.**|**Independent examination fees**|||||
|||||**2022**|2021|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial statements|||**1,956**<br>`═══════`|1,872<br>`═══════`|



## **15. Staff costs** 

The average head count of employees during the year was Nil (2019: Nil). 

No employee received employee benefits of more than £60,000 during the year (2019: Nil). 

## **16. Trustee remuneration and expenses** 

During the year none of the Trustees received remuneration for their services. 

The Trustees received £1,229 (2021: £nil) of reimbursed expenses in relation to travel and subsistence costs. 

**- 13 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

|**17.**|**Tangible fixed assets**|||
|---|---|---|---|
|||Equipment|**Total**|
|||£|**£**|
||**Cost**|||
||At 1 Apr 2021|2,081|**2,081**|
||Additions|561|**561**|
|||`───────`|`───────`|
||**At 31 Mar 2022**|2,642|**2,642**|
|||`═══════`|`═══════`|
||**Depreciation**|||
||At 1 Apr 2021|2,081|**2,081**|
||Charge for the year|140|**140**|
|||`───────`|`───────`|
||**At 31 Mar 2022**|2,221|**2,221**|
|||`═══════`|`═══════`|
||**Carrying amount**|||
||**At 31 Mar 2022**|421|**421**|
|||`═══════`|`═══════`|
||At 31 Mar 2021|–|–|
|||`═══════`|`═══════`|
|**18.**|**Investments**|||
||||**Other**|
||||**investments**|
||||**£**|
||**Cost or valuation**|||
||At 1 Apr 2021||**235,162**|
||Additions||**–**|
||Disposals||**(50,000)**|
||Fair value movements||**20,312**|
||||`─────────`|
||**At 31 Mar 2022**||**205,474**|
||||`═════════`|
||**Carrying amount**|||
||**At 31 Mar 2022**||**205,474**|
||||`═════════`|
||At 31 Mar 2021||235,162|
||||`═════════`|
||All investments shown above are held at valuation.|||
|**19.**|**Debtors**|||
|||**2022**|2021|
|||**£**|£|
||Trade debtors|**1,159**|980|
||Other debtors|**489**|–|
|||`───────`|`────`|
|||**1,648**|980|
|||`═══════`|`════`|



**- 14 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **20. Creditors: amounts falling due within one year** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Trade creditors|**5,184**|629|
|Accruals and deferred income|**1,968**|75,529|
||`───────`|`────────`|
||**7,152**|76,158|
||`═══════`|`════════`|



Accruals and deferred income balance of £1,968 is made of £1,968 accrual for accounting and independent examination services. 

## **21. Bath Event** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|At 1 April 2021|**–**|30,870|
|Amount deferred in year|**–**|(30,870)|
||`────`|`────────`|
|**At 31 March 2022**|**–**|–|
||`════`|`════════`|



## **22. Analysis of charitable funds** 

## **Unrestricted funds** 

|||||Gains and|**At**|
|---|---|---|---|---|---|
||At 1 Apr 2021|Income|Expenditure|losses|**31 Mar 2022**|
||£|£|£|£|**£**|
|General funds|207,961|48,034|(42,424)|20,312|**233,883**|
||`═════════`|`════════`|`════════`|`════════`|`═════════`|
|||||Gains and|At|
||At 1 Apr 2020|Income|Expenditure|losses|31 Mar 2021|
||£|£|£|£|£|
|General funds|215,346|62,294|(109,952)|40,273|207,961|
||`═════════`|`════════`|`═════════`|`════════`|`═════════`|
|**Restricted funds**||||||
|||||Gains and|**At**|
||At 1 Apr 2021|Income|Expenditure|losses|**31 Mar 2022**|
||£|£|£|£|**£**|
|Wormesley Fund|1,089|–|(1,089)|–|**–**|
|Joan Cooper Fund|4,367|–|(4,367)|–|**–**|
||`───────`|`────`|`───────`|`────`|`────`|
||5,456|–|(5,456)|–|**–**|
||`═══════`|`════`|`═══════`|`════`|`════`|
|||||Gains and|At|
||At 1 Apr 2020|Income|Expenditure|losses|31 Mar 2021|
||£|£|£|£|£|
|Wormesley Fund|1,089|–|–|–|1,089|
|Joan Cooper Fund|6,077|–|(1,710)|–|4,367|
||`───────`|`────`|`───────`|`────`|`───────`|
||7,166|–|(1,710)|–|5,456|
||`═══════`|`════`|`═══════`|`════`|`═══════`|



**- 15 -** 



## **Flexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **22. Analysis of charitable funds** _**(continued)**_ 

Restricted funds of the charity are for the following purposes 

- Wormseley Fund: training and development of teachers 

- A4A Fund: training equipment and scholarships 

- Joan Cooper Fund: advertising the Fitness League 

## **23. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|Tangible fixed assets|421|–|**421**|
|Investments|205,474|–|**205,474**|
|Current assets|35,140|–|**35,140**|
|Creditors less than 1 year|(7,152)|–|**(7,152)**|
||`─────────`|`────`|`─────────`|
|**Net assets**|233,883|–|**233,883**|
||`═════════`|`════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Tangible fixed assets|–|–|–|
|Investments|235,162|–|235,162|
|Current assets|48,957|5,456|54,413|
|Creditors less than 1 year|(76,158)|–|(76,158)|
||`─────────`|`───────`|`─────────`|
|**Net assets**|207,961|5,456|213,417|
||`═════════`|`═══════`|`═════════`|



**- 16 -** 




**Issuer** Treetops Chartered Accountants **Document generated** Tue, 27th Sep 2022 16:12:51 BST **Document fingerprint** 17ed5890d174b42538f12afd6253e3e9 

## **Parties involved with this document** 

## **Document processed** 

## **Party + Fingerprint** 

Tue, 25th Oct 2022 10:35:37 BST Tue, 25th Oct 2022 17:45:21 BST 

Professor Robert Jones - Signer (4d69ed46394eee9f777ed1797eece5cf) Innes Milne - Signer (3dedd5f551a6765f19ebffd0b97a1647) 

## **Audit history log** 

## **Date** 

## **Action** 

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Innes Milne viewed the envelope. (86.144.167.103) The envelope has been signed by all parties. (86.144.167.103) Innes Milne signed the envelope. (86.144.167.103) Innes Milne viewed the envelope. (86.144.167.103) Innes Milne viewed the envelope. (86.144.167.103) Innes Milne opened the document email. (104.28.30.145) Professor Robert Jones opened the document email. (87.248.116.78) Professor Robert Jones opened the document email. (87.248.114.142) Professor Robert Jones viewed the envelope. (86.146.212.226) Document emailed to Innes@innesmilneassociates.co.uk (13.41.224.185) Sent the envelope to Innes Milne (Innes@innesmilneassociates.co.uk) for signing. (86.146.212.226) Professor Robert Jones signed the envelope. (86.146.212.226) Professor Robert Jones viewed the envelope. (86.146.212.226) Professor Robert Jones opened the document email. (212.82.108.34) Professor Robert Jones opened the document email. (87.248.114.142) Professor Robert Jones opened the document email. (87.248.114.142) Professor Robert Jones opened the document email. (87.248.116.214) Professor Robert Jones opened the document email. (87.248.116.214) Document emailed to profrdj@yahoo.co.uk (52.56.73.161) Sent Professor Robert Jones a reminder to sign the document. (82.22.136.2) 



Tue, 27th Sep 2022 21:40:07 BST Tue, 27th Sep 2022 19:57:04 BST Tue, 27th Sep 2022 19:56:19 BST Tue, 27th Sep 2022 16:16:51 BST Tue, 27th Sep 2022 16:16:51 BST 

Tue, 27th Sep 2022 21:40:07 BST Professor Robert Jones opened the document email. (87.248.116.146) Tue, 27th Sep 2022 19:57:04 BST Professor Robert Jones viewed the envelope. (86.157.4.223) Tue, 27th Sep 2022 19:56:19 BST Professor Robert Jones opened the document email. (87.248.116.146) Tue, 27th Sep 2022 16:16:51 BST Document emailed to profrdj@yahoo.co.uk (18.134.137.239) Tue, 27th Sep 2022 16:16:51 BST Sent the envelope to Professor Robert Jones (profrdj@yahoo.co.uk) for signing. (82.22.136.2) Tue, 27th Sep 2022 16:15:56 BST Innes Milne has been assigned to this envelope (82.22.136.2) Tue, 27th Sep 2022 16:15:56 BST Professor Robert Jones has been assigned to this envelope (82.22.136.2) Tue, 27th Sep 2022 16:13:23 BST Document generated with fingerprint 7b3fdf9a03f4fbbcda95f339423e4922 (82.22.136.2) Tue, 27th Sep 2022 16:13:23 BST Document generated with fingerprint 17ed5890d174b42538f12afd6253e3e9 (82.22.136.2) Tue, 27th Sep 2022 16:13:23 BST Document generated with fingerprint 5e0300fe302b74169d78c27d306e9dca (82.22.136.2) Tue, 27th Sep 2022 16:12:51 BST Envelope generated by Andy Dicker (82.22.136.2)