Cb8rity Regtstr*tlott No. 291673 WEYBOURNE GYMliASTICS CLUB ANliUAL REPORT AND uNAUD￿ED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 WEYBOURNE GYMNASTICS CLUB LEGALAIW ADMINISTIL4TIVE INFORMATION Trllstees MT5 A Murray Mrs L Bassani E Fenton MTS N Gafj%)n Mrs L Lister Mr S King Chgrity number 291673 Prlneipal ¥ddress Unit 2 Canal Bridge Works BYfle￿ Road New Haw Surrey KT15 3JE IndepeDdeDt examineT Siobhan Gleni5ter. ACA 5 The Square Bagshot Surrey Uniied Kingdom GU195AX WEYBOURNE GYMNASTICS CLUB CONfENrs P#ge Trustees report Independent examinerfs report Sfaiement of financi81 activities Balance sheet Notes io the financial siatements 7.14 WEYB017RNE GYMNASTICS CLUB TRUSTEES REPORT FOR THE YE4R ENDED 31AUGUST2Q21 The Trustees present their report and financial statements for th¢ year ended 31 August 2021. The financial statements have been pr¢pa￿d in wirdance with the ￿cOunting policies sel out in note 01 to the financia] statetnents and ¢omply with the Charitys governing documenl. a deed of ÉNSL and ¢onstitutes an unincoTP)rated charity, the Charities Act 2011 and -Accounting and R¢portin8 by CFwities'. ststement of Recommended Practice applicable to chariti¢s preparing their &COUT]ts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- (as amended for accounting period5 commencing from l January 20191 Obje¢tlves and 4¢¢5vi¢ies The obje¢live of the chariry continues to be the promotion of parti¢iPalion in the swrt of gymnastics. We continue to provide classes aTKi iraining session5 for m¢m￿r$ to tsk¢ part in gymnastic activities and participate in comp¢titions and events to promote healthy recreation through sport to the local community. Our gymnasts participate in competitions from Tecreational level io Elite gymnaslics during the ￿urse of each year. Public Benefit: The Club's membership and activities are primhrily for the people of Runnymede and surrounding local We are open lo all regardless of age. race or gender. As our sport r¢quires specialist facilities and equipment we do have a hi￿ rntio of qualified coaches to 8ymnasts to ensure ihat all activities are catTied oui safely and to a high standard. All our ¢oa¢hes a￿ fully qualified wilh Briiish GymT)asii¢s approv¢d quaiifi¢*ions. All staff or¢ DBS checked and fully trained in Safeguardin8 and Fi￿1 Aid. Due to this we do charge fees for the use of our facilities and the coaching received. We ¢onlinu¢ io run 3 disabiliiy classes per week and we offer roncessionary classes for Meath Sthool (a speech a and language special school) and White Lodge in Chertsey. We ¢onlinue lo have a bursary prografftme in place to cater for hardship Situations where access to the club and the sport would not be possible. The Trustees have paid due regard io £uidan¢e ISSU￿ by the Charity Commission in deciding what activities the Charity should undertake. A¢hievements and performanc¢ The club currently h&s 350 recreational gymnasts on roll WIK) all att￿ded lessons for I hour a week up until August 2021. Our pr¢-school clas5as are slowly in¢rtasing and we had 32 tnembers who attend for a 45min class per week again up until August 2021. We currently have 85 Iniern]ediatr and advanced gymnasts training from 2 houts 10 7 houT5 per weeL We now have 23 Elite gymnasts training from 10 - 20 hours Fr week and competing in Region￿ and National wmpeiitions. Of th¢s¢ 23 we still have 4 gymnasts competing al National level and 2 of these gyrnnasts are still members of the South E&st Regtonal Squad. This has been anotlter unprecedented year as we had to close the club again in November 2020 and January 2021. No competitions have taket) place this year due to the pandemt¢. We returned to full training on 13th April 2021. Unfortunately our Chaim)an passed away in Fcbnwy 2021 and we have now aprM)inted a new Chairnlan Mr Sieve Kin WEYBOURNE GYMNASTICS CLUB TRUSTEES REPORT (coNfiNUED) FOR THE YEAR ENDED 31AUGUST2Q21 It been another difficult year but we have managed to keep the majority of our members aTrJ all our coaching staff through government help. We ￿e1Ved a bounce back loan in November but this was repaid in full in June 2021. On returning in April 2021 we have re¢ruited new members so the club remains in a very positive position. We hope our 2021-2022 year will see the club back to normal fU￿tiOn. The trustees would like to ihank ail the staff and volunteers for their lime thi5 year. Withoul this on80ing help the ¢lub would not be able to function effeoively. Finattelal revlew During the ￿TIOd the Chariry had i￿Orne resources of £413,352 a lo¢al expenditure of £276,856 resulting in net r¢sources of £136.496. Reserv￿ Policy Res¢rv¢s are needed to bridge the 8ap between the spending and Teeetving of income 8md lo cover unplanned emergency expenditure. The trustees Consider £40,0(N) is the ideal level of reserves, and bein8 suITici¢nt unrestricted reserves io fund a minimum of twelve month5. The Iruslees consider that adequale resources ¢oniinue to be availabl¢ to fund the aaivities of the Charity for the foreseeable future. The tryslees are of th¢ viw that the charity is a 80ing concern. The Trust¢¢s has a55essed ihe major risks to which the Charity is eXF￿d, and are satisfied that syslems are in place to mitiBaie exposure to the major risks. Structiire? governance and m*nagemeDt The Chariiy is controllcd by its governin¥ documenL a deed of trusl and ￿nstItU(¢S an unincorporated charity. The Trusiecs who served durin8 the year aThJ up ¢0 ihe dwe of si8nature of the financial slat¢m¢nts were.. Mrs A Murray Mrs L B￿an1 Mrs E Fenton Mrs N Gasson Mrs L Lister Mr. S Phillips Mr S King (Resigned 27 Febnwy 2021) Th¢ ¢harity'S principal decision-making b(¥Jy is the Board of TTUStees. WI￿ are elected from its membership. The Board meets three-monthly. The charity recruits its tnjsiees from its member organisations through a process of election. TTUStees will be appointed for a ierni of three years and may serye a second terni of three years if Te-elected by the mernbership. An elected trustee will retire at the close of the AGM al the end of the last year of the tr115tee' terni of office. None of the Tnstees has any beneficial interest in the company. All of the Trumees are metnbers of the ¢ompany and guaraniee to ¢ontribute £1 in the event of a winding up. WEYBOURNE GYMNASTICS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEYBOURNE GYTrtNASTICS CLUB I report to the Trustees on my examination of the finan¢ial statements of Weybourne Gymnastics Club (the Charity) for the y¢ar ended 31 August 2021, which are sei oui on pages 05 to 13. Responsibilities and basis of re￿)rt As the Trustees of the Charity you are responsible for th¢ prepardtion of the financial statements in accordance with th¢ requirements of the Charities Act 2011 (the 2011 Act). l report in respert of my examination ofthe Charity's financia] ststements carrled out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable DiTe¢tions given by Ihe Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's statement Since ihe Charity's gross in¢ome exceeded £250.IXK) your examiner must be a member of a ix)dy listed in section 145 of ihe 2011 Act. I confirni that l am qualified to undertake the examination because l am a m¢mtr£r of. which is one of the listed b￿les. I have Complet￿ my examination. I confirni that no matters have come to my attention in connection with the examination giving me Cause io believe that in any M￿trIal tesFta: accounting records w¢r¢ not kept in resF¢a of the Charity &8 required by section 130 of the 2011 the financial statements do not accord with tly)se records. or the financial statements do not comply with ihe applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other ihan any requirement that the accounts give a true and fair view which is not a matter considered &s part of an independ¢nt examination. I have concerns and have wme across other mattrts in connection with the examination to which attention should be drawn in this rewrt in order to enable a proper under5taTyJing of the financial stsÈm¢nts to b¢ r¢a¢hed. Siobhan Gl¢ni5ter, ACA 5 The Square Bagshot Surrey GU19 SAX United Kingdom Dated.. 1.7.1.tysJ . WEYBOURNE GYMNASTICS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YE4R ENDED 31 AUGUST202J Sl&lement of Tru51ees rtsponsibillties The Trustees are resp)nsible for preparing the Trustees Rep)rt and the financial statements in accordance wilh appli¢able law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Acci)unting Praaice). The law applicable lo chariiies in England and Wales requires the TrU￿e¢S to prepare financial statements for each financial year which give a true and fair view of the stsie of alTairs of the Charity and of the incoming resoU￿¢S and application of resource5 of the Charity for ihai year. In preparing these financial statements. the Trustee$ a￿ r¢quired to.. - s¢le¢t suitable accounling policies aTrJ then apply them consist¢DtIyJ - observe the methods and principle5 in ik Chariti¢5 SORP. - make judgements and esiimates ihal are reasonable and prudenL sthte whether applicable accountin8 Standards have been followed. subject to any material d¢partUTes disclosed and explained in ihe financial statements. and - prepare the financial statements on the going concern basis unless it is in8ppropriate to presume that Ihe ¢haTity will continue in operation. The Tr￿ttt$ are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime thc financial position of the Charity and enable ihem lo ensure that the financial siatcmenis comply with the Charities Act 201 l. the Chariry (Accounts and RcporLs) Regulations 2008 and the provisions of the Irust d¢¢d. Th¢y are also responsible for safeguarding the assets of rhe Charity and h¢nc¢ for taking reasonable steps for the prev¢ntion and d¢tection of fraud and oth¢r irre8ulariti¢s. The Trustees report w&s appToved by the Board of Truste¢5. Mr S King Trustee WEYBOURNE Gy￿NASTICS CLUB STATEMENT OF FINANCIALACTivrriES I￿CLUDING INCOME AND EXPENDrfuRE AccouNr FOR THE YEAR EJYDED 31AUGUST2021 Unrestricted funds 2021 Total 2020 Not¢s in Voluntary income Activities for generating fuJ)ds Other income resourc 266.304 22.898 124.150 252.904 37.237 To¢al Income 413.352 290,141 Raising funds 62.210 57,059 Charitable activities 214,646 236,849 Total resources expeDded 276.856 293,908 Net In¢omel{eXpendlt￿r¢) for tbe yeArl Net movemeD¢ In funds 136,496 (3,767) Fund balances at I Septcmbcr 2020 25,030 28,797 Fund balantts #t 31 August 2021 161,526 25.030 The Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuin8 activilie WEYBOURNE GYMNASTICS CLUB BALANCE SHEET ASAT31 AUGUST2021 2021 2020 Notes Current Assets Stocks Debtors Cash at bank and in hand 1.610 5.412 634 19,585 12 166.022 167.632 25,631 Credltors: amounts falling due wlthth on¢ year (6,106) (601) Net current ass¢ts 161.526 25,030 Income funds Unr¢stri¢l¢d funds 14 161.526 25,030 161.526 25.030 161.526 25.030 17105122 The financial statements were approved by the Tntstees on......................... Mr S Kin8 Trustee **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **1 Accounting policies** ## **Charity information** Weybourne Gymnastics Club is a Charity controlled by its governing document, a deed of trust, snd constitutes an unincorporated oharity.. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling , which is the functional currency of the Charity . Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Incoming resources** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. - 7 - **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **1 Accounting policies** **(Continued)** Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Resources expended** Expenditure is recognised on an accruals basis when incurred. It is reported in the Statement of Financial Activities as follows: Direct Charitable Expenditure - these are costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Support costs include other running costs and governance costs. These are incurred by the charity and are necessary to aid and support the running of the charity and are included within expenditure on charitable activities. All costs are allocated to charitable activities of the SOFA on a basis designed to reflect the use of the resource. Support Costs relating to a particular fund are allocated directly, others are apportioned on an appropriate basis when applicable. The charity has identified one direct charitable activity. ## **1.6 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 8 - ## **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **1 Accounting policies** ## **(Continued)** ## **1.8 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity 's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity ’s contractual obligations expire or are discharged or cancelled. ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.10 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 9 - **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Voluntary income** |**Unrestricte**
**d**
**funds**
**2021**
**£**
Gifts
2,000
Other Govt. grants
103,495
Subscriptions
160,329
Competitions
480
266,304|Total
2020
£
(2)
-
251,931
975
252,904| |---|---| ## **4 Activities for generating funds** |Shop income
Children Parties
Softplay
Holiday gym
Sale of clothing|**2021**
**£**
-
7,070
7,120
7,692
1,016
22,898|**2020**
**£**
781
21,775
8,238
6,443
-
37,237| |---|---|---| - 10 - ## **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2021**_ |**5**
**6**
**7**|**Other income**
**Unrestricte**
**d**
**funds**
**2021**
**£**
Other income
124,150
**Raising funds**
**Unrestricted**
**funds**
**2021**
**£**
Fundraising trading: cost of goods sold and other costs
Opening stock
5,412
Purchases of Clothing & Badges
179
Purchase of Snacks for Resale
269
Gym Hire
57,960
Closing stock
(1,610)
62,210
**Charitable activities**
**2021**
**£**
Staff costs
170,698
Share of support costs (see note 8)
42,020
Share of governance costs (see note 8)
1,928
214,646|Total
2020
£
-
Total
2020
£
5,412
3,372
449
53,238
(5,412)
57,059
**2020**
**£**
193,968
41,909
972
236,849| |---|---|---| - 11 - ## **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **8 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Rates and water
1,411
-
BG Insurance
16,121
-
Light and heat
9,177
-
Telephone
988
-
Postage and stationery
530
-
Sundries
395
-
Computer and website costs
1,430
-
Bank charges
123
-
Equipment
7,929
-
Repairs and renewals
3,916
-
Accountancy
-
1,928
42,020
1,928
Analysed between
Charitable activities
42,020
1,928|**2021**
**£**
1,411
16,121
9,177
988
530
395
1,430
123
7,929
3,916
1,928
43,948
43,948|2020
£
2,720
16,328
9,092
983
571
357
1,883
526
3,848
5,601
972
42,881
42,881| |---|---|---| Governance costs includes payments to the independent examiners of £1,200 (2020- £972) for independent examination fees. ## **9 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. - 12 - ## **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: |||**2021**|**2020**| |---|---|---|---| |||**Number**|**Number**| |||10|11| ||**Employment costs**|**2021**|**2020**| |||**£**|**£**| ||Wages and salaries|160,908|182,070| ||Social security costs|8,282|-| ||Other pension costs|1,508|11,898| |||170,698|193,968| |**11**|**Stocks**||| |||**2021**|**2020**| |||**£**|**£**| ||Finished goods and goods for resale|1,610|5,412| |**12**|**Debtors**||| |||**2021**|**2020**| ||**Amounts falling due within one year:**|**£**|**£**| ||Trade debtors|-|634| |**13**|**Creditors: amounts falling due within one year**||| |||**2021**|**2020**| |||**£**|**£**| ||Other taxation and social security|3,545|-| ||Trade creditors|-|1| ||Other creditors|1,361|600| ||Accruals and deferred income|1,200|-| |||6,106|601| - 13 - ## **WEYBOURNE GYMNASTICS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2021**_ ## **14 Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| ||||**Movement in funds**||| |||**Balance at**|**Incoming**|**Resources**|**Balance at**| ||**1**|**September**|**resources**|**expended**|**31 August 2021**| |||**2020**|||| |||**£**|**£**|**£**|**£**| |General funds||25,030|413,352|(276,856)|
161,526| |||25,030|413,352|(276,856)|
161,526| ## **15 Related party transactions** There were no disclosable related party transactions during the year (2020 - none) . - 14 -