## **THE CAROUSEL SCHOOL OF GYMNASTICS** ## **UNIT 2A BYRON WORKS, RUSSELL GARDENS,** ## **WICK LANE, WICKFORD, ESSEX** **(Registered Charity No:- 803483)** **TRUSTEES REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** TIIK C'AAOllSTr.l. %fllOt)L OF GYMP4ASTICS AP4NiIAI. KTr.POR'f 0￿. Tllfr:'fRII5TEES wom nil: YEAR E14DKD 31 1•2J Unli 2A Ilyrtffi WL¥k% wkkr￿ FAXX SSI I KKI Mrs Jelrt M MT Willw H￿Y ofthedwity wthIMthe r￿lity for y(w paJpl¢cnSuri￿ ￿t￿lOn li 8iv¢ntod* Physi￿ C4W￿l(￿Or￿t Mb the ithW¢5ts0fxwl *idb 5pirii Iwye of The ¢huiry hmlinly hirMb8 t Th¢ Klxx)l kn ￿l￿ty 4￿￿1r*I C￿t0 *¥h lftthe t￿hl￿fj￿￿ln$ qudi11￿1￿ A]1 DBS ¢I￿¢d ud411 h•vc* firt4id ¢¢NifiL*e atteNI ¢hihkn* Mtmtroship is 411.iime hi8h v¢ry l¥l& The ￿01 voj￿¢¥*x￿sfllI RryiTh41 •d Lryd. W¢ ￿ter￿1 I￿15 ofL*ildrrn i# frI￿lY ¢¥¢ntsWith(Ahtr¢Iu￿ The ¢ld* ￿ unthle ￿1*7[d L¥ty Annwl Club Corn￿11110n fly￿1 ¢hildrvh in th¢ Club thxwthr COVID 19 rwthtii¢ th¢ club Ye btw Affe(tsJ by thi& Wemw8Utw ￿ldLY* lafjm w*• low. m*k4pwiiY¢ ￿th￿bA1¢￿t0th¢ thl. The prrmiscs th Xothfcrfd bxLWAy•WTh)W4•4 all ¢lu•vAw¢ Ojll •4*tlwW liML Wt h1￿ iohire new w(r: nrd 31 vapWff¢gl S of whith *¢ fvll lime Ithff. h￿¢• muLimW of•yw'J thr5¢ F¥¢ffli5eJ l¢wMrly £78kl. We 1150 to pth*yde eA¢¢ss iK47me 10 pl• fwa rr-fiiofow W￿krThd within tkn bwi 5 Y￿51•p￿￿. £IWJkl. Wc 11¢ miThiful neal jjilion￿ tooffxl my dr*ic iti0pwxi￿ Whith Wubrahi￿LIthIaI d•rrinsthtCovid 19 ecd w t¢ A tru*¢(m thiswwcrrfTrpw which will b¢yivin8 the C*uily Commiuion ￿ diowim8 rw [ry￿tr*I￿ Aiwthith wiTht411 ￿l¥ll1¢s￿lI1 betr￿gr￿ed0V¢r. This li illl w hold CeNifKd Atc•of12 FW Sthnfud k Fxx &S170EY. MTh Jc•# mo￿# Page I INDEPENDENT LXAMINEAS REPORT TO THEIIiIL¥f£Ls OF THE CAROUSKLSCHOOLOFGYMNAsri(s rcquire41 fw this yelr wyJ¥ 14112) of ts Ll*iw Ad 2011 {ts 2ffj11 Aa) li li my re5F￿￿￿lIlty 10.. Eununc 145 oftht 2011 A¢t 145(SXblof th 2011 12 Hi8h Styta SwnfL¥d le H(pi SS170EY A R FCCA FJknt4 Mortk*K Buby & Co Uwl¢eJ ## **THE CAROUSEL SCHOOL OF GYMNASTICS** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 MARCH 2023** |**Incoming Resources**
Gymnastic activities
Fund raising receipts
Bank deposit account interest
Insurance claim
Grants
**Total Incoming Resources**
**Resources Expended**
Cost of gymnastic activities
National Insurance
Pensions
Rent and service charge
Rates
Insurance
Lighting and heating
Postage, stationery and advertising
Telephone
Subscriptions
Coaching fees and expenses
Repairs and renewals
Bank charges
Affiliation fees

Independent examination fees
Cleaning
Course fees
Legal fees
General expenses

**Depreciation**
**Finance Costs - Loan interest**
**Total Resources Expended**
**Net Incoming Resources**
**Reconciliation of Funds**
**Total Funds brought forward at 1 April 2022**
**Total Funds carried forward at 31 March 2023**|**2023**
**£**
**384,293**
**1,858**
**70**
**-**
**6,371**
**392,592**
**18,885**
**5,971**
**2,660**
**64,515**
**3,198**
**3,419**
**12,605**
**415**
**3,112**
**270**
**153,225**
**4,405**
**85**
**1,871**
**2,675**
**970**
**18**
**-**
**816**
**279,115**
**12,313**
**12,323**
**303,571**
**88,841**
**487,919**
**£576,760**|_2022_
**£**
_218,639_
_837_
_21_
_2,500_
_25,920_| |---|---|---| |||_247,917_| |||_13,078_
_4,035_
_1,857_
_15,798_
_1,030_
_1,459_
_4,856_
_767_
_1,689_
_315_
_121,130_
_1,227_
_1,897_
_1,813_
_2,519_
_890_
_-_
_1,698_
_684_| |||_176,742_
_11,870_
_3,889_| |||_192,501_| |||_55,416_
_432,503_| |||_£487,919_| _The notes on pages 5 to 6 form part of these Accounts._ Page 3 TIIE CAROV5ELSCIIOOLOFGYMTh Asn(s BAIANCE SIIEET AT31 MARC112013 2022 184.IlJO 3L415 22,J42 35.144 1.976 C*th in h•Trd 119 Cr*dhorn: A•o•#ts J.137 32,427 4979 21ml Cmlitor lo 105 271 N¢t Cirrnot AM•l¥ 719J53 590.101 Credlton: F•llkni d•t*fterMoYtthai •wye*r Flnllr￿ 1¢ Brnk IWJ £57&760 £487,919 Funds oftht CknAry £487 919 Forandon bddf ofthc Bo8rd of rtu#¢eS ## **THE CAROUSEL SCHOOL OF GYMNASTICS** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## 1. **Basis of preparation of accounts** - The Accounts have been prepared on the basis of historic cost and in accordance with: - Charities Act 2011. - Charities SORP (FRS102) The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS102) update bulletin 1 issued on 2 February 2016 as this charity constitutes a small charity. The financial statements are prepared on going concern basis, under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound. There are no significant areas of judgements or key sources of estimation uncertainty. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The charity is an unincorporated trust constituted by a trust deed. ## 2. **Accounting Policies** ## 2.1 **Incoming Resources** ## _Recognition of incoming resources_ These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain they will receive the resources; and - the monetary value can be measured with sufficient reliability. ## _Incoming resources with related expenditure_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. ## _Grants and donations_ Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. ## _Investment income_ This is included in the accounts when receivable. ## 2.2 **Expenditure and liabilities** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is possible 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. Page 5 ## **THE CAROUSEL SCHOOL OF GYMNASTICS** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## 2.3 **Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:- Equipment and Fittings 10% per annum on the straight line basis. ## 2.4 **Taxation** The charity is exempt from tax on its charitable activities. ## 2.5 **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. Restriction arise when specified by the donor or when funds are raised for particular restricted purposes. Page 6 ## **THE CAROUSEL SCHOOL OF GYMNASTICS** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## 3. **Fixed Assets** |**Cost**
At 1 April 2022
Additions
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Charge for year
**At 31 March 2023**
**Net book values**
**At 31 March 2023**
_At 31 March 2022_|**Freehold land**
**& buildings**
**Capital**
**expenditure on**
**buildings**
**Equipment**
**and fittings**
**Total**
44,228
-
269,071
74,450
224,809
89,479
538,108
163,929| |---|---| ||**44,228**
**343,521**
**314,288**
**702,037**| ||-
-
53,278
53,278
-
-
12,313
12,313| ||**-**
**-**
**65,591**
**65,591**| ||**44,228**
**343,521**
**248,697**
**636,446**| ||_44,228_
_269,071 _
_171,531 _
_484,830_| ## 4. **Trustees’ Remuneration and Expenses** There were no payments made to Trustees in the year for providing services. ## 5. **Management and Administration of the Charity** |Independent examination fee|**2023**
_2022_
**2,675**
_2,519_| |---|---| ## 6. **Security** The charity has provided the bank with a legal charge over the freehold property it owns as security for the bank loans outstanding at 31 March 2023. Page 7 ## 7. **Operating Lease Commitments** The client has a total commitments, guarantees and contingencies as at year end 2023 of £1,003,852 (2022: £1,056,686) included in the above are minimum lease payments under non-cancellable leases, falling due as follows: |Within one year
Between one and five years
After five years|2023
2022
£
£
52,834
52,834
281,783
281,783
669,235
722,069| |---|---| ||1,003,852
1,056,686| Page 8