Charity registration number 291673 WEYBOURNE GYMNASTICS CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
WEYBOURNE GYMNASTICS CLUB LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Amurray Mrs L Bassani Mrs E Fenton Mrs N Gasson Mrs L Lister Mr S King Charity Dumber 291673 Principal address Unit 2 Canal Bridge Works Addlestone KT15 3JE Independent examiner Siobhan Glenister, ACA 5 The Square Bagshot Surrey United Kingdom GU19 SAX
WEYBOURNE GYMNASTICS CLUB coNrENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the fmancial statements 7-14
IVEYBOURNE GYMNASTICS CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present thcir annual report and financial statements for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 01 to the financial statements and comply with the Charity's governing document, a deed of trust, and constitutes an unincotporated charity, 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 treland (FRS 102)" (as amended for accounting periods commencing from l January 2019). Objectives and activities The objective of the charity continues to be the promotion of participation in the sport of gymnastics. We continue to provide classes and training sessions for members to take part in gymnastic activlties and participate in competitions and events to promote healthy recreation through sport to the local community. Our gymnasts participate in competitions from recreational level to Elite gymnastics during the course of each year. Public Benefit: The Club's membership and activities are primarily for the people of Runnymede and surrounding local areas. We are open to all gardleSS of age, race or gender. As our sport requires specialist facilities and equipment we do have a high ratio of qualified coaches to gymnasts to ensure that all activities are carried out safely and to a high standard. All our coaches are fully qualified with British Gymnastics approved qualifications. All staff are DBS checked and fully trained in Safeguarding and First Aid. Due to this we do charge fees for the use of our facilities and the coaching received. We continue to run 3 disability classes per week and we offer concessionary classes for Meath School (a speech a and language special school). We continue to have a bursary programme in place to cater for hardship situations where access to the club and the sport would not be possible. Achievements and performance The club currently has 341 recreational gymnasts on roll who all attended lessons for I hour a week up until August 2022. Our pre-school classes have increased and we had 44members who attend for a 45min class per week again up until August 2022. We currently have 86 Intern]ediate and advanced gymnasts training from 2 hours to 7 hours per week. We currently have 24 Elite gymnasts training from 10 - 20 hours per week and competing in Regional and National competitions. Of these 23 we have 4 gymnasts competing at National level and 2 of these gymnasts are still members of the South East Regional Squad. This year has seen the club back to pre pandemic numbers with full classes across the club. We have purchased new equipment - A new set of A Bars, Additional blocks for vault work etc and we also had the roof repaired.
WEYBOURNE GYMNASTICS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Our gymnasts are back to competing with competitions being held for all levels. The recreational gymnasts have taken part in 3 compctitions the inter/advanced in 3 competitions and the Elite girls have competed at grades and classic competitions. We also re-introduced our Christmas Show for the advance(VElite gymnasts which was very well attended. The trustees would like to thank all the staff and volunteers for their time this year. Without this ongoing help the club would not be able to function effectively. Financial review During the period the Charity had income resources of £342,115 and a total expenditure of £344,326 resulting in net resources of ~£2,211. Reserves Policy Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The trustees consider £40,000 is the ideal level of reserves, and being sufficient unrestricted reserves to fund a minimum of twelve months. The trustees consider that adequate resources continue to be available to fund the activities of the Charity for the foreseeable future. The trustees are of the view that the charity is a going concern. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structur4 governance and management The Clwity is controlled by its governing document, a deed of trusL and constitutes an unincorporated charity. The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs A Murray Mrs L Bassani Mrs E Fenton Mrs N Gasson Mrs L Lister Mr S King The charity's principal decision-making body is the Board of Trustees, who are elected from its membership. The Board meets three-monthly. The charity recruits its tnteeS from its member organisations through a process of election. Trustees will be appointed for a term of three years and may serve a second tenn of three years if re-elected by the membership. An elected trustee will retire at the close of the AGM at the end of the last year of the trustee's tern] of oifice. None of the Trustees has any beneficial interest in the club. All of the Trustecs are mcmbers of the club and guarantee to contribute £1 in the cvent of a winding up.
WEYBOURNE GYMNASTICS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Statement of Trustees responsibilities The Trustees are responsiblc for preparing the Trustees Rcport and thc 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 requires the Trustees to prepare fjnancial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the 11 incoming resources and application of resources of the Charity for that year. In preparing these fll]ancial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fmancial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and 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. The Trustees report was approved by the Board of Trustees. Mr S King Trustee Dated: ..A..4...1).....
WEYBOURNE GYMNASTICS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFWEYBOURNE GYMNASTICS CLUB I report to the Trustees on my examination of the financial statements of Weybourne Gymnastics Club (the Charity) for the year ended 31 August 2022, which are set out on pages 05 to 14. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity's financial ststements carried out under section 145 of the 2011 ACL In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirni that no matters have come to my attention in connection 11 with the examination giving me cause to believe that in any material respect: 11 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 ACL or the financial ststements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the forn] and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be thawn in this report in order to enable a proper understanding of the financial ststements to be reached. Siobhan Glenister, ACA 5 The Square Bagshot Surrey GU195AX United Kingdom Dated: ..20. -.o.4.-..I
WEYBOURNE GYMNASTICS CLUB STATEMENT OF FtNANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted funds 2022 Total 2021 Notes Incomin resources from Voluntary income Activities for generating funds Other income enerated funds: 269,432 68,909 3,774 266,304 22,898 124,150 Total income 342,115 413,352 enditure on: Raising funds 63,422 62,210 Charitable activities 280,904 214,646 Total resources expended 344,326 276,856 Net (expenditure)/income for the year/ Net movement in funds (2,211) 136,496 Fund balances at I September 2021 161,526 25,030 Fund balances at 31 August 2022 159,315 161,526 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
WEYBOURNE GYMNASTICS CLUB BALANCE SHEET ASA T31AUGUST2022 2022 2021 Notes Fixed assets Tangible assets Current assets Stocks Cash at bank and in hand 11 620 12 1,410 164,942 1,610 166,022 166,352 167,632 Creditors: amounts falling due within one year 13 (7,657) (6,106) Net current assets 158,695 161,526 Total assets less current liabilities 159,315 161,526 Income funds Unrestricted funds 14 160,115 161,526 159,315 161,526 159,315 161,526 The financial ststements were approved by the Trustees on .. . ly£5.. Mr S King Trustee
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 A UGUST 2022 Accounting policies Charity information Weybourne Gymnastics Club is a Charity controlled by its governing document, a decd of trust, snd constitutes an unincorporated oharity.. 1.1 Accounting convention The financial statements have bcen 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 l 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 I not to prepare a Statement of Cash Flows. The fmancial ststements 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 ststement 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 amounts 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 fmancial statements, tbe 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. IJ Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 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 Income Income is recognised when the Charity is legally entitled to it after any perforn)ance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 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 asseL 1.5 Expenditure 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 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairn]ent losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25 % on cost The gain or loss arising on the disposal of an asset is detennined as the difference between the sale proceeds and the carrying value of the asseL and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to detern]ine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverdble amount of the asset is estimated in order to detennine the extent of the impairnient loss (if any).
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Accounting policies (Continued) 1.8 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. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-ternl liquid investments with original maturities of three months or less, and bank overthafts. Bank overdrafts arc shown within borrowings in current liabilities. Basicfinancial assets Basic fmancial 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. Basicfinancial li4thilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transactio where the debt instrument is measured at the present value of the future payments 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 rdte 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 offinancial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Ternlination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terniinate the employment of an employee or to provide tern]ination benefits.
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTJNUED) FOR THE YEAR ENDED 31 A UGUST2022 Accounting policies (Continued) 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 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 perio(L or in the period of the revision and future periods where the revision affects both current and future periods. Voluntary income Unrestricted funds Total 2022 2021 Gifts Other Govt. grants Subscriptions Competitions 1.927 2,272 262,478 2,755 2,000 103,495 160,329 480 269,432 266,304 Activities for generating funds 2022 2021 Children Parties Softplay Holiday gym Sale of clothing 36,760 14,610 11,062 6,477 7,070 7,120 7,692 1,016 68,909 22,898 10-
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Other income Unrestricted funds Total 2022 2021 Other income 3,774 124,150 Raising funds Unrestricted funds Total 2022 2021 Fundraising trading: cost of goods sold and other costs Opening stock Purchases of Clothing & Badges Purchase of Snacks for Resale Gym Hire Closing stock 1,610 5262 5,412 179 269 57,960 (1,610) 57,960 (1,410) 63,422 62,210 Charitable activities 2022 2021 Staff costs Depreciation and impairn]ent 210,787 206 170,698 210,993 170,698 Sharc of support costs (sec notc 8) Share of govcrnance costs (see note 8) . 67,033 2,878 42,020 1,928 280,904 214,646 11
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 A UGUST2022 Support costs Support Governance costs costs 2022 2021 Rates and water BG Insurance Light and heat Telephone Postage and stationery Sundries Computer and website costs Bank charges Equipment Repairs and renewals 2,829 17,172 11,172 904 633 477 1,042 273 18,701 13,830 2,829 17,172 11,172 904 633 477 1,042 273 18,701 13,830 1,411 16,121 9,177 988 530 395 1,430 123 7,929 3,916 Accountancy Legal and professional fees 1,680 1,198 1,680 1,198 1,928 67,033 2,878 69,911 43,948 Analysed between Charitable activities 67,033 2,878 69,911 43,948 Governance costs includes payments to the independent examiners of £1,440 (2021-£1,200) for independent examination fees. Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. 10 Employees The average monthly number of employees during the year was: 2022 Number 2021 Number 14 10 12-
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 10 Employees (Continued) Employment costs 2022 2021 Wages and salarics Social sccurity costs Other pension costs 193,943 11,320 5,524 160,908 8,282 1,508 210,787 170,698 There were no cmployces whose annual rcmuncration was more than £60,000. 11 Tangible fixed assets Flxtures and fittings Cost Additions 826 At 31 August 2022 826 Depreciation 2nd impairment Depreciation charged in the year 206 At 31 August 2022 206 Carrving amount At 31 August 2022 620 12 Stocks 2022 2021 Finished goods and goods for resale 1,410 1,610 13-
WEYBOURNE GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 A UGUST2022 13 Creditors: amounts falling due within one year 2022 2021 Other tsxation and social security Other creditors Accruals and deferred income 5,100 1,117 1,440 3,545 1,361 1,200 7,657 6,106 14 Unrestricted funds Movement in funds Incomlng Resources resources expended Balanc• at 1 September 2021 Balance at 31 August 2022 General funds 161,526 342,115 (343,526) 160,115 161,526 342,115 (343,526) 160,115 15 Related party transactions There were no disclosable related paty transactions during tlie year (2021- none). 14-