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2023-08-31-accounts

REGISTERED CHARITY NUMBER: 286732

Report of the Trustees and

Financial Statements

for the Year Ended 31 August 2023

for

The Meapa

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

The Meapa

Contents of the Financial Statements for the year ended 31 August 2023

Page
Chairman's Report 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 23
Detailed Statement of Financial Activities 24 to 25

The Meapa

Chairman's Report for the year ended 31 August 2023

This report is written in respect of our financial year ending 31 August 2023 and during the period, Chair of five years resigned his position and for a period of 8 months from March 2023 to November 2023, the Vice chair and Trustee, Jonathan Sumner acted as Chair of the Committee.

Throughout this period and working with another member of the Executive Committee he oversaw the modernisation of the Charity's Constitution which had not been updated since May 2003. One of the primary goals of the newly drafted constitution was to ensure that the committee which had previously been quite limited in its membership had a broader voice of representation from across the club.

The new constitution was then circulated for consultation with the club membership before a vote for its adoption at the AGM held in November 2023. In addition to the new constitution, members were invited to put themselves forward for Executive Committee roles, the spirit of which was for the club to be a club "for its members, run by its members".

My appointment as Chair of the newly formed Executive Committee came as part of that AGM along other new members appointed at the same time.

Since taking over as the new Chair of Meapa, I would like to thank the committee for all the hard work that has gone into managing the transition into having two sites, particularly when this was during COVID lockdowns. To support this growth, the revised constitution and broader committee now reflects the next chapter for Meapa as we grow our membership, together with supporting our local community to ensure that all levels, whether it is for one session a week or as part of our elite squads, gymnastics is accessible and enjoyable for all. Meapa is a family and I am very proud to lead the next phase of growth.

With this context in mind, this Annual Report will be limited in its scope as the previous Acting Chair and Treasurer resigned from their positions in late 2023/early 2024 and are no longer working with or connected to the club. This report will therefore focus on the gymnastics' achievements of the year, the new Constitution alongside the financial report and key headlines arising from that. There may be some repetition from the most recent annual report which, due to the reconstitution and some timing delays, covered events from the same period.

I look forward to reporting in more depth next year when the new Committee will have been operating for the majority of a financial year. In the meantime, I would like to take this opportunity to thank all of the volunteers who have stepped up to participate in the Executive Committee - they do so willingly and in their free time and the value of that cannot be underestimated when operating a charity such as ours.

Page 1

The Meapa

Report of the Trustees

for the year ended 31 August 2023

The trustees present their report with the financial statements of the charity for the year ended 31 August 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).

OBJECTIVES AND ACTIVITIES

Our overall purpose as a charity is to organise, provide and assist with the provision of a facility which enables and encourages participation in gymnastics, providing the physical education and development of all participants. Through the specific objectives which form the founding principles of our charity we want to bring gymnastics as a sport to our community through partnerships with schools in both Gravesham and Medway and to do so in a way which reaches far and wide for children and adults of all abilities and need.

Some examples of how we have continued to strive to these objectives are the work that we are doing with schools, now up to 6 schools with St Werburgh School the latest addition to our schools partnership.

Our club membership at the beginning of this financial year (1 September 2022) had reached 1135 members across a variety of disciplines and we finished te year with a membership of 1588, showing a growth in members year on year of nearly 40%.

Back in April 2022 we launched Baby Gym classes, targeted at new mothers with their babies, providing a space for support and networking for new mothers in the community. At the start of this year we have seen a 400% increase in regular attendees to these sessions providing an opportunity for new parents to attend with their young children and mix and build a network with others at a similar stage of life.

Meapa gymnastics offers a variety of pathways for the children in the community from a very young age up to high performance gymnastics in the Women's Artistic discipline and we are soon hoping to open new opportunities for other disciplines like Men's Artistic which will help us rive to ensure we ae reaching the whole community, with a balance of men and women at our classes and as a club.

Page 2

The Meapa

Report of the Trustees for the year ended 31 August 2023

ACHIEVEMENT AND PERFORMANCE

Finally, the club has enjoyed much gymnastics success in the year to 31 August 2023. Not only is this a testament to the coaches and gymnasts who have worked hard to achieve this, but it will ensure the ongoing attraction of quality gymnast, coaches and investment which in turn allows us to broaden our offering and delivery to the wider community.

A summary of the successes of the year include:

The Women's Artistic squads are made up of 63 gymnasts including 21 development gymnasts.

Local, Regional and National Squads:

Competition Success

At the start of this year, our Floor & Vault squads are made up of 55 gymnasts in total with our Senior F&V squads made up of 30 members training 5 hours a week and our Junior F&V squad is made up of 25 members. Our Junior squad increased their hours from 2 to 4 hours per week from October 2022. By the end of the year, Senior had increased to 36 members and Junior to 30 members showing how we continue to seek to provide progression through for all our gymnasts.

Gymnasts across these squads have taken part in Regional, Kent and Open competitions, bringing home over 100 medals. We have been delighted to see so many of our members achieve qualifying results to move up to higher levels.

Finally - so important to our goals in bringing gymnastics to everyone are our GFA squads. In September 2022, our GFA members had 860 gymnasts which grew to 1160 gymnasts by the end of this year (August 2023) with an age range from 4 through to 17 years old. The classes are continuously monitored and we recommend gymnasts progress through to different disciplines as they progress in their training. This could be to Senior GFA, F&V or Women's Artistic.

We love seeing them develop as they learn and enjoy gymnastics - they have participated at all ages in our invitational competitions, with so many of them coming away with medals and special awards. In October 2022 we had more than 300 participants from more than 12 clubs in the region competing in the Meapa Invitational event which was a great success. This event followed the Meapa General Championships which was open to all our members. We had 450 participants who enjoyed taking part in the festival themed competition, with lots of members achieving great results.

Business Update

The year ending 31 August 2023 saw the competition of the Gravesend refurbishment works which was the last of the major investment projects to ensure both facilities have a high standard of provision.

The recent investments have used up savings stores and now the club will continue to operate with its charity/not for profit ethos at the core whilst seeking to build up savings to ensure it is secure financially to deal with any unexpected expenditure.

Page 3

The Meapa

Report of the Trustees for the year ended 31 August 2023

With coaching resource a challenge, the club continues to invest in and grow its own talent to ensure a pipeline of coaches to meet the demands of the club enabling it to meet its objectives to deliver quality gymnastics to the local communities.

Page 4

The Meapa

Report of the Trustees for the year ended 31 August 2023

FINANCIAL REVIEW

Income

Income has seen a rise of 20% in Club membership, which has generated an additional £165k. Gym hire to 3rd party rentals has remained stable, and sale of merchandise has increased by 13%. The club continues to grow in financial real terms, and in the last 3 years has tripled its income.

Expenditure

WIth the completion of the Gravesend refurbishment, we now have 2 big sites to clean, and cleaning costs have risen significantly from £10,560 lat year to £42,526 this year. Coaching fees have decreased this year by £20,728, as more staff have been required to keep up with demand, Wages have increase by £66,405 in the last year.

Excess Expenditure

Excess expenditure over income this year was £35,614. A good improvement of last year's excess expenditure of £108,638. This has been due to an increase in income, and the cessation of property depreciation previously charged on Gravesend of £80,000 per annum.

Bank Funds

Cash held in the Bank accounts was £5,589 as of 31st August 2023, as opposed to last year's balance of £80,503. This has been depleted with the cost of the refurbishment, which has now been paid for in full. The balance remaining is for the general running of the club.

Outstanding

As this year sees the income of the Club exceeding £1 million, the club as a Charity needs to have the accounts audited. Due to the change in the club constitution, committee members, accounting software and accountant in the last year, this is the last stepping stone, currently being carried out.

Reference and Administrative Details

Throughout this year we have experienced some challenges with the software in operation for managing our memberships and training fees. Love Admin who provide this service rolled out an upgrade to Love Admin 2 which was challenging and difficult for the small group of members who were part of the first phase roll out. Whilst these matter were resolved, the short comings of the Love Admin system remain under review to enable us to ensure we are operating with a system which meets the needs of the charity.

Welfare

The welfare of all of our gymnasts and coaches is a core priority for the club and throughout the past year we have worked closely with British Gymnastics, our governing body as well as our local welfare support to restructure the provision of welfare as well as ensure that everyone knows where to go for help when needed.

We continue to listen to our gymnasts and gather their feedback as well as ensure that they feel there is a safe space to go. During this year our welfare have helped and supported young gymnasts to find their voices and learn to resolve common everyday challenges they experience as part of their natural development as well as recognising when a more formal approach is required. They liaise as much with parents and carers, coaches and gymnasts to foster an environment where everyone feels comfortable and safe.

Looking Ahead

The new financial year brings with it the opportunity to build on our strengths, enhance our offering and forge further links with our local community. The newly expanded Executive Committee will allow us to do this as we drive towards our overall vision to bring gymnastics to our local communities from grass roots to elite.

This year ahead will see us embed the new Executive Committee, recruit and appoint a new Business Manager to focus on the operational processes and drive efficiencies, allowing the Director of Coaching to focus on the provision of coaching and gymnastic opportunity for all. We anticipate some changes to our accounting software to support these efficiencies as well as focusing on some basic processes and systems for all staff. Getting the basics consolidated and efficient will ensure a strong foundation from which we will continue to build.

Page 5

The Meapa

Report of the Trustees for the year ended 31 August 2023

And Finally

It would be remiss of us not to acknowledge the extraordinary amount of time given by everyone at the club but particularly volunteers, both past and present, who have been so instrumental in getting the club to where it is today. We have seen the departure of individuals who have been part of the club for many years and who have contributed a great deal, not least overseeing the fit out of the Rochester venue and the refurbishment of the Gravesend and we are grateful for all that they have done.

STRUCTURE, GOVERNANCE AND MANAGEMENT

With the continued growth of the club and the consolidated structure across two venues in Rochester and Gravesend serving well over 1000 members and the return to full training following the COVID pandemic, the club needed to turn its attention to its operating structures to ensure they were fit for purpose for a club of our size and revenue.

Following the resignation of the Chair of the Committee in March 2023, the Business Manager and Vice Chair stepped into an acting up position as Chair with a key focus on the modernisation of the club's constitution and with that the path to a wider committee with deeper breadth of skills and experience.

In preparation the new constitution, the Acting Chair led a workshop with interested parents and a group of around 8 parents volunteered to be part of this workshop. Through these discussions, some high level principles were agreed and built into the constitution.

Whilst this took some time and delayed the submission of the annual accounts and report, the then committee took the decision to prioritise this work to ensure that the club was operating with a constitution and subsequent structure which was fit for purpose.

The AGM held in November 2023 was the culmination of this work and the adoption of the new Constitution, albeit the Annual report delivered at that meeting was in respect of FY ending 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

286732

Principal address

The Meapa Unit B5 Saxonplace Rochester ME2 2NW

Trustees

J Sumner (resigned 30.11.23) Ms S Baker (resigned 31.1.24) S Courtney (resigned 31.3.23) P Priestly Ms L Ings (appointed 16.1.24) Ms D Millen (appointed 16.1.24) Ms T Chiverton (appointed 31.1.24)

Auditors

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

Page 6

The Meapa

Report of the Trustees for the year ended 31 August 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report 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

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.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... P Priestly - Trustee

Page 7

Report of the Independent Auditors to the Trustees of The Meapa

Opinion

We have audited the financial statements of The Meapa (the 'charity') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 8

Report of the Independent Auditors to the Trustees of The Meapa

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws an regulations, including fraud. We designed audit procedures to respond to the risk recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to material misstatement in the financial statements, including, but not limited to, the Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above, and the further removed non - compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relation to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 9

Report of the Independent Auditors to the Trustees of The Meapa

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

Date: .............................................

Page 10

The Meapa

Statement of Financial Activities for the year ended 31 August 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Charitable activities
Investment income
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable activities
Employee costs
General administrative expenses
Legal and professional costs
Interest payable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2023
Unrestricted
fund
£
921
1,064,982
175
1,066,078
26,896
592,271
72,093
49,042
8,087
203
353,099
1,101,691
(35,613)
548,553
512,940		 2022
Total
funds
£
423
889,382
22
889,827
7,631
573,664
34,758
103,909
3,994
-
274,510
998,466
(108,639)
657,192
548,553

The notes form part of these financial statements

Page 11

The Meapa

Balance Sheet 31 August 2023

2023
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
148,597
CURRENT ASSETS
Debtors
12
402,042
Cash at bank
5,589
407,631
CREDITORS
Amounts falling due within one year
13
(34,862)
NET CURRENT ASSETS
372,769
TOTAL ASSETS LESS CURRENT
LIABILITIES
521,366
CREDITORS
Amounts falling due after more than one year
14
(8,426)
NET ASSETS
512,940		 2022
Total
funds
£
51,548
444,150
80,503
524,653
(16,082)
508,571
560,119
(11,566)
548,553

The notes form part of these financial statements

continued...

Page 12

The Meapa

Balance Sheet - continued 31 August 2023

FUNDS
16
Unrestricted funds
TOTAL FUNDS		 512,940
512,940		 548,553
548,553

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P Priestly - Trustee

............................................. L Ings - Trustee

............................................. D Millen - Trustee

............................................. T Chiverton - Trustee

The notes form part of these financial statements

Page 13

The Meapa

Cash Flow Statement for the year ended 31 August 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2023
£
51,051
51,051
(123,000)
175
(122,825)
(3,140)
(3,140)
(74,914)
80,503
5,589		 2022
£
18,579
18,579
(40,862)
22
(40,840)
(1,436)
(1,436)
(23,697)
104,200
80,503

The notes form part of these financial statements

Page 14

The Meapa

Notes to the Cash Flow Statement for the year ended 31 August 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease in debtors
Increase in creditors
Net cash provided by operations		 2023
2022
£
£
(35,613)
(108,639)
25,952
90,161
(175)
(22)
42,107
33,444
18,780
3,635
51,051
18,579

2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.9.22
Cash flow
At
£
£
Net cash
Cash at bank
80,503
(74,914)
80,503
(74,914)
Debt
Debts falling due after 1 year
(11,566)
3,140
(11,566)
3,140
Total
68,937
(71,774)		 31.8.23
£
5,589
5,589
(8,426)
(8,426)
(2,837)

The notes form part of these financial statements

Page 15

The Meapa

Notes to the Financial Statements for the year ended 31 August 2023

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.

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 fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Property Improvements 15% Straight line Equipment over 5 years Furniture & Fixtures over 5 years

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.

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.

Pension costs and other post-retirement 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.

Debtors

Short term debtors ae measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

continued...

Page 16

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

1. ACCOUNTING POLICIES - continued

Debtors

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2. DONATIONS AND LEGACIES

Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fees/Memberships
Charitable activities
Fund Generation
Charitable activities
Sale of Merchandise
Charitable activities
Other Income
Charitable activities
Gym Hire
Charitable activities
5.
RAISING FUNDS
Raising donations and legacies
Fundraising expenses		 2023
£
921
2023
£
175
2023
£
934,286
14,809
22,898
400
92,589
1,064,982
2023
£
26,896		 2022
£
423
2022
£
22
2022
£
769,200
3,221
20,223
590
96,148
889,382
2022
£
7,631

continued...

Page 17

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

6. CHARITABLE ACTIVITIES COSTS

Charitable activities
Employee costs
General administrative expenses
Legal and professional costs
Interest payable
SUPPORT COSTS
Management
£
Employee costs
72,093
General administrative
expenses
20,560
Legal and professional costs
-
Interest payable
-
92,653		 Finance
£
-
2,530
-
203
2,733		 Support
Direct
costs (see
Costs
note 7)
£
£
592,271
-
-
72,093
-
49,042
-
8,087
-
203
592,271
129,425
Governance
Other
costs
£
£
-
-
25,952
-
-
8,087
-
-
25,952
8,087		 Totals
£
592,271
72,093
49,042
8,087
203
721,696
Totals
£
72,093
49,042
8,087
203
129,425

7. SUPPORT COSTS

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees		 2023
£
409,102
21,429
6,821
437,352
2023
19		 2022
£
342,697
17,675
5,700
366,072
2022
17

No employees received emoluments in excess of £60,000.

continued...

Page 18

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 423
Charitable activities
Charitable activities 889,382
Investment income 22
Total 889,827
EXPENDITURE ON
Raising funds 7,631
Charitable activities
Charitable activities 573,664
Employee costs 34,758
General administrative expenses 103,909
Legal and professional costs 3,994
Other 274,510
Total 998,466
NET INCOME/(EXPENDITURE) (108,639)
RECONCILIATION OF FUNDS
Total funds brought forward 657,192
TOTAL FUNDS CARRIED FORWARD 548,553

continued...

Page 19

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

11. TANGIBLE FIXED ASSETS

Improvements
to
Plant and
property
machinery
£
£
COST
At 1 September 2022
440,164
49,408
Additions
99,517
8,339
At 31 August 2023
539,681
57,747
DEPRECIATION
At 1 September 2022
404,411
35,217
Charge for year
18,083
4,684
At 31 August 2023
422,494
39,901
NET BOOK VALUE
At 31 August 2023
117,187
17,846
At 31 August 2022
35,753
14,191
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
Prepayments
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors		 Fixtures
and
fittings
£
1,925
15,144
17,069
321
3,184
3,505
13,564
1,604
2023
£
1,620
320,211
5,473
74,738
402,042
2023
£
4,754
20,377
9,731
34,862		 Totals
£
491,497
123,000
614,497
439,949
25,951
465,900
148,597
51,548
2022
£
3,703
364,267
-
76,180
444,150
2022
£
2,421
6,977
6,684
16,082

continued...

Page 20

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other creditors
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due between two and five years:
Other loans - 2-5 years
16.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.22
£
548,553
548,553
Incoming
resources
£
1,066,078
1,066,078
At 1.9.21
£
657,192
657,192		 2023
£
8,426
2023
£
8,426
Net
movement
in funds
£
(35,613)
(35,613)
Resources
expended
£
(1,101,691)
(1,101,691)
Net
movement
in funds
£
(108,639)
(108,639)		 2022
£
11,566
2022
£
11,566
At
31.8.23
£
512,940
512,940
Movement
in funds
£
(35,613)
(35,613)
At
31.8.22
£
548,553
548,553

continued...

Page 21

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
889,827
889,827		 Resources
Movement
expended
in funds
£
£
(998,466)
(108,639)
(998,466)
(108,639)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.21
£
657,192
657,192		 Net
movement
in funds
£
(144,252)
(144,252)		 At
31.8.23
£
512,940
512,940

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
1,955,905
1,955,905		 Resources
expended
£
(2,100,157)
(2,100,157)		 Movement
in funds
£
(144,252)
(144,252)

continued...

Page 22

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2023

17. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other debtors, was the amount of £320,211 (2022: £364,267) owing from Meapa Gymnastics Ltd, a related company.

Page 23

The Meapa

Detailed Statement of Financial Activities
for the year ended 31 August 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
Charitable activities
Fees/Memberships
Fund Generation
Sale of Merchandise
Other Income
Gym Hire
Total incoming resources
EXPENDITURE
Raising donations and legacies
Fundraising expenses
Charitable activities
Wages
Social security
Pensions
Hire of plant and machinery
Merchandise
Coaching fees
DBS coach checks
Coaches training/courses
BG insurance & membership fees
Other membership fees
Gym equipment
Equipment repairs & maintenanc
Competitions/Trials/Camps
Other
Rent
Water and rates
Carried forward		 2023
£
921
175
934,286
14,809
22,898
400
92,589
1,064,982
1,066,078
26,896
409,102
21,429
6,821
34,149
28,611
61,932
400
3,105
4,246
240
3,208
699
18,329
592,271
218,556
15,419
233,975		 2022
£
423
22
769,200
3,221
20,223
590
96,148
889,382
889,827
7,631
342,697
17,675
5,700
35,785
28,655
82,661
736
7,788
36,328
286
8,159
599
6,595
573,664
216,164
9,746
225,910

This page does not form part of the statutory financial statements

Page 24

The Meapa

Detailed Statement of Financial Activities for the year ended 31 August 2023

Other
Brought forward
Service charges
Premises insurance
Light and heat
Cleaning
Premises security
Premises expenses/maintenance
Health & safety/welfare
Support costs
Management
Telephone & Internet
Postage and stationery
Sundries
Travel and subsistence
Staff clothing
General manager fees
Finance/Admin fees
Finance
Bank charges
No description
Other
Improvements to property
Plant and machinery
Fixtures and fittings
Governance costs
Auditors' remuneration
Accountancy and legal fees
Total resources expended
Net expenditure		 2023
£
233,975
8,788
6,441
28,958
42,526
8,256
15,755
8,400
353,099
8,287
5,348
6,925
13,907
3,558
21,836
32,792
92,653
2,530
203
2,733
18,084
4,683
3,185
25,952
3,000
5,087
8,087
1,101,691
(35,613)		 2022
£
225,910
8,267
6,493
17,768
10,561
2,217
2,319
975
274,510
5,218
2,836
4,779
6,455
2,624
21,980
3,699
47,591
915
-
915
81,888
7,952
321
90,161
-
3,994
3,994
998,466
(108,639)

This page does not form part of the statutory financial statements

Page 25