REGISTERED CHARITY NUMBER: 292348
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
for
Griffin Association
Maxwells Chartered Accountants
4 King Square Bridgwater Somerset TA6 3YF
Griffin Association
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
Griffin Association
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. 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
Objectives and aims
To advance the mental, physical and spiritual welfare of young people by teaching gymnastic programmes promoting a scheme of awards and their personal development.
Significant activities
Griffin Association provides Trampolining and Gymnastics for ages 2 and a half to adults and of all abilities from pre school to national competitors.
All of our coaches are British Gymnastics qualified and insured and the childrens safety and enjoyment is our top priority.
We run sessions on a Monday, Wednesday, Thursday, Friday evenings and a Saturday morning. Each group is tailored to the ability and age of the gymnast within the group. We try to keep the groups to a minimum number to be able to give each gymnast the maximum amount of time and attention possible. Our Regional competitors travel to Bath University to compete in the national development pathway. This is then a feeder for the National Development Pathway that gymnasts follow to ultimately compete for England and on to Olympic selection. The top of the regional bouncers can qualify to compete for the South West Region and compete at a national competition that has been held for the past few years at the NIA in Birmingham. Our National Competitors travel far and wide to compete in League and Spring Series competitions. This can be anywhere from Bath, London and South Shields. The club also supports the gymnasts to attend the South West Closed, held at Bath each year, and the schools competition that starts at regional level. The top three competitors and top two teams then progress to Zonal and the top three individuals from Zonal and top 2 teams then progress to National Schools.
Volunteers
We are very grateful for the many hours volunteers, including member volunteers, spent encouraging our members and working with the children. Without this valuable contribution of time, energy and expertise we would not have been able to achieve so much.
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
In a normal year we run at least one, and sometimes two, friendly trampolining competition(s), inviting clubs from all over the south west region. It is relaxed and well attended. It gives the younger children the opportunity to compete and practice routines. This is our biggest fund raiser each year and all money made is ploughed back into the club for coach development, bursaries and purchasing any equipment that is needed. In recent years the gymnastics division has also held a small friendly competition and would also have expanded last year. Hopefully in the next year we will be able to hold another friendly comp for both Trampolining and Gymnastics.
This year we had a donation of £500 from the Masons that we used solely for bursaries, £1000 from Arnold Clark and £1000 from Toymastert. We were unable to do any more fundraising due to Covid restrictions.
Each year we need to have our equipment serviced to keep it in excellent condition. All repairs and replacement of equipment is funded by the club through our fund raising. Although we are not classed as a deprived area we, as a club do offer bursaries for families that are struggling, be it for a short or long time. This again is funded through our fund raising efforts. We also offer coach bursaries for coach progression. We help coaches that wish to progress and gain further qualifications with up to 50% of any coaching or judging courses that they may wish to attend.
All our committee members trustees are parents of gymnasts and coaches that have volunteered to be on the committee. We hold sub committee meetings in between full committee meetings which are held every three months. Our AGM is usually held in December.
Page 1
Griffin Association
for the Year Ended 31 August 2022
Report of the Trustees
FINANCIAL REVIEW
Financial position
2022 saw the club bounce back successfully from a difficult couple of years tainted by Covid restrictions and associated financial issues.
The clubs income increased significantly to £124,834 (2021: £76,696) with costs increasing in line to £100,283 (2021: £80,548) The club returned a surplus for the year of £24,551 (2021: deficit of £3,853) adding in a significant way to the retained reserves.
The cash at bank at 31 August 2022 rose significantly to £32,212 (2021: £1,457) .There was £41,888 (2021: £17,336) in unrestricted funds. The aim of the funds is that there is sufficient reserves held to cover two months operational costs in the event of a loss of income and to meet any unforeseen expenditure that may occur, currently reserves stand at a level that would cover up to five months of costs.
Our main source of funds this year has been session and competition fee income for participants in the training and competition programmes
We use general funds to subsidise activity costs for individuals who would otherwise not be able to participate in the training programme.
During the year changes to the payment structure meant there was less need for bursaries, but we still assisted a few families to continue training who would otherwise find the cost of sessions prohibitive, we awarded bursaries to the value of £137.00 per month (2021 £778), the bursary cost and associated gross fee income is not recognised in the financial statements.
Training bursaries to help with or cover the costs of assessment and certification were awarded in the year totalling £Nil (2021: £180), this cost is recognised in the statement of financial activities.
The majority of session income is applied to the training session costs including coaching and hall hire.
The majority of competition receipts income is applied to competition costs.
Administrative and governance costs are apportioned over all the income streams.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Trustees are appointed or reappointed annually at the Annual General Meeting.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
292348
Principal address
20 Chancellor Road Walton Street Somerset BA16 9RX
Page 2
Griffin Association
Report of the Trustees for the Year Ended 31 August 2022
Trustees
Mrs E H Willcox Trustee Miss A M Ellington Trustee Mrs A J Thomas Trustee Miss C L Leonard Trustee (resigned 1.2.22) Miss J L Hinchcliffe Trustee Mrs B I Wright Trustee (resigned 1.2.22) P A Vernon Chairman Miss A Lockyer Trustee Miss Z Mckenna Trustee Mrs K Lockyer Trustee Mrs K House Trustee (resigned 5.1.22) Mrs M Lush Trustee (resigned 5.1.22) Mrs M Turner Trustee (resigned 5.1.22) Mrs B Howe Trustee (resigned 5.1.22)
Independent Examiner
Gavin Roberts ACA FCCA Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Approved by order of the board of trustees on 30 July 2023 and signed on its behalf by:
Mrs K Lockyer - Trustee
Page 3
Independent Examiner's Report to the Trustees of Griffin Association
Independent examiner's report to the trustees of Griffin Association
I report to the charity trustees on my examination of the accounts of Griffin Association (the Trust) for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gavin Roberts ACA FCCA
The Institute of Chartered Accountants in England and Wales
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
3 August 2023
Page 4
Griffin Association
Statement of Financial Activities for the Year Ended 31 August 2022
| 31.8.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,500 Other trading activities 2 122,325 Investment income 3 9 Total 124,834 EXPENDITURE ON Raising funds 4 100,283 NET INCOME/(EXPENDITURE) 24,551 RECONCILIATION OF FUNDS Total funds brought forward 17,337 TOTAL FUNDS CARRIED FORWARD 41,888 |
31.8.21 Total funds £ 5,732 70,964 - 76,696 80,548 (3,852) 21,189 17,337 |
|---|---|
The notes form part of these financial statements
Page 5
Griffin Association
Balance Sheet
31 August 2022
| 31.8.22 | 31.8.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 7 | 12,990 | 17,320 |
| CURRENT ASSETS | |||
| Cash at bank | 32,212 | 1,457 | |
| CREDITORS | |||
| Amounts falling due within one year | 8 | (3,314) | (1,440) |
| NET CURRENT ASSETS | 28,898 | 17 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 41,888 | 17,337 | |
| NET ASSETS | 41,888 | 17,337 | |
| FUNDS | 9 | ||
| Unrestricted funds | 41,888 | 17,337 | |
| TOTAL FUNDS | 41,888 | 17,337 |
The financial statements were approved by the Board of Trustees and authorised for issue on 30 July 2023 and were signed on its behalf by:
K Lockyer - Trustee
The notes form part of these financial statements
Page 6
Griffin Association
Notes to the Financial Statements for the Year Ended 31 August 2022
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Computer equipment - Straight line over 3 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.
2. OTHER TRADING ACTIVITIES
| Clothing sales Session income Competition receipts Griffin membership Award scheme badges and certificates |
31.8.22 £ 1,026 118,658 2,048 - 593 122,325 |
31.8.21 £ 368 68,135 90 1,895 476 |
|---|---|---|
| 70,964 |
continued...
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Griffin Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. INVESTMENT INCOME
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Deposit account interest | 9 | - | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Support costs | - | 13,758 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 5,732 |
| Other trading activities | 70,964 |
| Total | 76,696 |
| EXPENDITURE ON | |
| Raising funds | 80,548 |
| NET INCOME/(EXPENDITURE) | (3,852) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 21,189 |
| TOTAL FUNDS CARRIED FORWARD | 17,337 |
continued...
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Griffin Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
7. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 September 2021 and 31 August 2022 45,037 DEPRECIATION At 1 September 2021 27,717 Charge for year 4,330 At 31 August 2022 32,047 NET BOOK VALUE At 31 August 2022 12,990 At 31 August 2021 17,320 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 9. MOVEMENT IN FUNDS At 1.9.21 £ Unrestricted funds General fund 17,337 TOTAL FUNDS 17,337 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 124,834 TOTAL FUNDS 124,834 |
Computer equipment Totals £ £ 657 45,694 657 28,374 - 4,330 657 32,704 - 12,990 - 17,320 31.8.22 31.8.21 £ £ 1,087 - 2,227 1,440 3,314 1,440 Net movement At in funds 31.8.22 £ £ 24,551 41,888 24,551 41,888 Resources Movement expended in funds £ £ (100,283) 24,551 (100,283) 24,551 |
|---|---|
continued...
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Griffin Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.9.20 | in funds | 31.8.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 21,189 |
(3,852) | 17,337 |
| TOTAL FUNDS 21,189 |
(3,852) | 17,337 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 76,696 |
(80,548) | (3,852) |
| TOTAL FUNDS 76,696 |
(80,548) | (3,852) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.20 | in funds | 31.8.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 21,189 | 20,699 | 41,888 |
| TOTAL FUNDS | 21,189 | 20,699 | 41,888 |
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 £ 201,530 201,530 |
Resources Movement expended in funds £ £ (180,831) 20,699 (180,831) 20,699 |
Resources Movement expended in funds £ £ (180,831) 20,699 (180,831) 20,699 |
|---|---|---|---|
| 20,699 |
continued...
Page 10
Griffin Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
10. RELATED PARTY DISCLOSURES
As is the usual practice with this type of association income has been received from the Trustees and their family members for membership subscriptions, this has not been quantified but the subscriptions paid are at full membership rate with no preferential rates offered to Trustees.
The following Trustees are also Coaches for the Club, payment is made on a commercial basis and arms length agreement, the specific trustees involved areas follows:
Miss A M Ellington Mrs B Wright Mrs E H Willcox Mrs A Lockyer Mrs K Lockyer M Lush B Howe
The total amount paid to the trustees for 2022 was £42,176 as follows:
| Coaching | £41,398 |
|---|---|
| Expenses | £3,929 |
| Administration | £4,165 |
Family members of trustees also received expenses and Coaching fees as follows
£12,959 Coaching fees
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Griffin Association
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 |
||
|---|---|---|
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,500 | 5,732 |
| Other trading activities | ||
| Clothing sales | 1,026 | 368 |
| Session income | 118,658 | 68,135 |
| Competition receipts | 2,048 | 90 |
| Griffin membership | - | 1,895 |
| Award scheme badges and certificates | 593 | 476 |
| 122,325 | 70,964 | |
| Investment income | ||
| Deposit account interest | 9 | - |
| Total incoming resources | 124,834 | 76,696 |
| EXPENDITURE | ||
| Other trading activities | ||
| Coaching fees | 69,722 | 55,032 |
| Clothing | 536 | 835 |
| Affiliation fees | 251 | 250 |
| Coaches expenses | - | 234 |
| Course fees | - | 300 |
| Competition costs | 3,521 | 383 |
| Training bursary | - | 180 |
| Award scheme badges and certificates | 692 | 213 |
| Hall hire | 11,627 | 8,807 |
| Donations made | - | 78 |
| COVID-19 costs | - | 478 |
| 86,349 | 66,790 | |
| Support costs | ||
| Management | ||
| Administrative costs | 5,147 | 5,745 |
| Trampoline maintenance | 607 | - |
| Depreciation of tangible and heritage assets | 4,330 | 5,773 |
| 10,084 | 11,518 | |
| Finance | ||
| GoCardless fees | 1,683 | 800 |
| Information technology | ||
| Repairs and renewals | 487 | - |
This page does not form part of the statutory financial statements
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Griffin Association
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2022 | ||
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| Information technology | ||
| Governance costs | ||
| Accountancy and legal fees | 1,680 | 1,440 |
| Total resources expended | 100,283 | 80,548 |
| Net income/(expenditure) | 24,551 | (3,852) |
This page does not form part of the statutory financial statements
Page 13