THE CAROUSEL SCHOOL OF GYMNASTICS Unit 2a Byron Works, Russell Gardens, Wick Lane, Wickford, Essex Mr A R Wenden Elliott, Mortlock, Busby & Co Limited Chartered Certified Accountants 12 High Street Stanford le Hope Essex SS17 OEY Dear Mr Wenden We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and staff of the charity, the following representations given to you in connection with your review of the charitvs accounts for the year ended 31 March 2024. We acknowledge as trustees our responsibility for the accounts, which you have prepared for the charity. All the accounting records have been made available to you for the purpose of your review and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. We confirm that there have been no changes in the accounting policies other than those disclosed in the accounts. In our opinion, the accounting policies are appropriate to the charity and conform with generally accepted accounting principles. We confirm that all transactions and balances have been accounted for in accordance with these accounting policies. We confirm that all assets have been included in the balance sheet. We confirm that all assets included in the balance sheet exist. We confirm that the charity owns all the assets included in the balance sheet, unless otherwise stated in the accounts. We confirm that the value of all the assets in the balance sheet are fairly stated. We confirm that depreciation has been provided on all fixed assets with a limited economic life in accordance with the stated accounting policy. In our opinion, the rates of depreciation are reasonable. We confirm that all liabilities have been fully recorded in the balance sheet. We confirm that all liabilities recorded in the balance sheet are properly those of the charity. 10. We confirm that all liabilities have been recorded at a fair value. 11. We confirm that there has been no netting off of assets and liabilities. 12. We confirm that all income has been fully recorded and correctly classified. Cont....
- The charity has no contingent liabilities other than those disclosed in the accounts.
- We confirm the charity has not had any related party transactions other than those disclosed in the accounts.
- There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts. Yours sincerely Signed on behalf of the board K Shepherd- Trustee . Mr W Harvey-Trustee 21 January 2025
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 2024
THE CAROUSEL SCHOOL OF GYMNASTICS ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2023 The Carousel School of Gymnastics is constituted by Deed of Trust and is a registered charity, No. 803483. 1 is S118 addre Unit 2A Byron Works, Russell Gardens, Wickford, E ex The charity trustees during the year to 31 March 2024 were: Jean Morgan (deceased on 10 March 2024) William Harvey Karen Shepherd (from 11 March 2024 present) The object of the charity remains the same to provide a gymnastics facility for young people ensurin given to the physical education of the pupils in the interests of social welfare, together with team spiri belonging. The current emphasis being artistic and recreational gymnastics. ttention The charity is mainly dependent on membership subscriptions together with the hiring out of the premise groups including Home education and School groups. Fundraising is also significant. The school has highly qualified coaches to teach the gymnasts and encourages ex-gymnasts to stay in th po take coachingjjudging qualifications. All our coaches are qualified and have been DBS checked and all have fi t aid certificate and attend Safeguarding and protecting children courses. Membership is at an all time high and a very long waiting list is being held. A committee elected by the membership at an Annual General Meeting held every April manage the day to day running of the school, however volunteers to join the committee are becoming increasingly hard to find. The school continues to produce successful gymnasts at County, Regional and National Level with the addition in 2024 of 2 International level gymnasts. We regularly enter all levels of children in team competitions and friendly events with other clubs. The club held our Annual Club Competition for all children in the club. We held our AGM and although attendance was low. We continue to receive a small grant from the Jack Petchey Foundation again recognising those children that hav made a positive contribution to the school. The new premises in Rochford have been open 2 years now and all classes are full and we have had to close our waiting lists. We have managed to hire new staff. however, we still need more. We currently have 31 employees/freelance coaches, 5 of which are full time staff. When we set up the new premises, we used up almost all our reserves, we therefore need to replace these to ensur we have a minimum of a yearfs rent for these premises (currently £78k). We also need to put aside excess income to plan for a re-fit of our Wickford premises within the next 5 years (approx. £IOOk). We are mindful that we need to keep additional amounts to offset any dramatic downturn in operations which was been highlighted during the Covi 19 pandemic. I will have just taken over as a trustee after the sad passing of Jean Morgan. We have also set up a new Business limited by guarantee 'Carousel Gymnastics, Adam Lovatt has agreed to be a trustee on this new company which we will be applying for Charitable status as soon as the Charity Commission is allowing new registrations t which poin 11 activities will be transferred over. This is still on hold. The Independent Examiner is Mr A R Wenden FCCA, of Messrs Elliott, Mortlock, Busby * Co Limited, Certified Accountants, of 12 High Street, Stanford le Hope, Essex SS17 OEY hartered The charity's bankers are Lloyds Bank at Basildon Essex. Karen Shepherd On behalf of the Board of Trustees. Page I
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CAROUSEL SCHOOL OF GYMNASTICS I report on the accounts of the Society for the year ended 31 March 2024 which are set out on pages 3 to 6. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: Examine the accounts under section 145 of the 2011 Act. To follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act; and To state whether particular matters have come to my attention. Basls of independent examinerfs statement My examination was carried out in accordance with General Directions given by the Charity Commissioner An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts a "true and fair vie, and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 12 High Street Stanford le Hope Essex SS17 OEY A R Wenden, FCCA Elliott, Mortlock, Busby & Co Limited Chartered Certified Accountants Page 2
THE CAROUSEL SCHOOL OF GYMNASTICS STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Incoming Resources Gymnastic activities Fund raising receipts Bank deposit account interest Grants 453,753 7,331 868 900 384,293 1,858 70 6,371 Total Incoming Resources 462,852 392,592 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 Loss on sale of assets General expenses 21,309 9,691 3,408 70,758 1,680 4,181 11,078 207 3,378 27 211,515 6,418 160 2,478 3,033 1,278 688 615 690 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 18 816 352,592 279,115 Depreciation 47,119 12,313 Finance Costs - Loan interest 8,475 12,323 Total Resources Expended 408,186 303,571 Net Incoming Resources 54,666 88,841 Reconciliation of Funds Total Funds brought forward at l April 2023 576,760 487,919 Total Funds carried forward at 31 March 2024 631,426 £576, 760 The notes on pages 5 to 6form part of these Accounts. Page 3
THE CAROUSEL SCHOOL OF GYMNASTICS BALANCE SHEET AT 31 MARCH 2024 Notes 2024 2023 Fixed Assets 604,4(K) 636,446 Current Assets Stock 3,004 3,404 Expenses paid in advance Debtors 36,120 35,515 2,082 Cash at bank deposit accounts 119,855 46,059 current accounts 24,559 41,602 Cash in hand 2,934 570 186,472 129,232 Creditors . Amounts falling due within one year Accruals 3,924 8,257 Creditor 12,729 4,979 Finance lease 21,000 21,000 Bank loans 11,889 11,889 49,542 46,125 Net Current Assets 136,930 83,107 741,330 719,553 Creditors: Amounts Falling due after more than one year Finance lease 31,500 52,500 Bank loan 78,404 90,293 Net Assets £631,426 £576, 760 Represented by:_ Funds of the Charity Unrestricted Income Funds neral purposes fund £631,426 £576, 760 Karen Shephard For and on behalf of the Board of Trustees 2 i.I Date:... Pagye 4
THE CAROUSEL SCHOOL OF GYMNASTICS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 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 Capital expenditure on premises IO% per annum on the straight line basis. 15 years on the straight line basis. 2.4 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. 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 2024 Fixed Assets Capital expenditure on buildings Freehold land & buildings Equipment and fittings Total Cost At l April 2023 Additions Disposals 44,228 343,521 3,392 314,288 12,296 (2,387) 702,037 15,688 (2,387) At 31 March 2024 44,228 346,913 324,197 715,338 Depreciation At l April 2023 Charge for year Disposals 65,591 32,042 (1,772) 65,591 47,119 (1,772) 15,077 At 31 March 2024 15,077 95,861 110,938 Net book values At 31 March 2024 44,228 331,836 228,336 604,400 At 31 March 2023 44,228 343,521 248,697 484,830 Trustees, Remuneration and Expenses During the year the following payments were made to K Shephard in respect of coaching services provided: K Shephard £1,297.44 Management and Administration of the Charity 2024 2023 Independent examination fee 3,033 2,675 Page 7
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 2024. Operating Lease Commitments The client has a total commitment, guarantees and contingencies as at year end 2024 of £951,020 (2023: £1,003,852) included in the above are minimum lease payments under non-cancellable leases, falling due as follows: 2024 2023 Within one year Between one and five years After five years 70,446 281,783 598,791 52,834 281,783 669,235 951,020 1,003,852 P,IgL 8