2025-03-31-accounts - Carousel School Of Gymnastics

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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 2025

THE CAROUSEL SCHOOL OF GYMNASTICS ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2025

The Carousel School of Gymnastics is constituted by Deed of Trust and is a registered charity, No 803483. Its registered address is:-

Unit 2a Byron Works, Russell Gardens, Wickford Essex SS11 8QG

The charity trustees during the year to 31 March 2025 were:-

Karen Shepherd William Harvey

The object of the charity remains the same – to provide a gymnastics facility for young people ensuring attention is given to the physical education of the pupils in the interests of social welfare, together with team spirit and a sense of belonging. The current emphasis being artistic and recreational gymnastics.

The charity is mainly dependant on membership subscriptions together with the hiring out of the premises for local 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 the sport and take coaching/judging qualifications. All our coaches are qualified and have been DBS checked and all have a first aid certificate and attend Safeguarding and protecting children courses.

Membership is at an all-time high with a very long waiting list.

A committee elected by the membership at an Annual General Meeting held every April manage the day to day running of school, however volunteers to join the committee are increasing hard to find.

The school continues to produce successful gymnasts at County, Regional and National level with the addition of 2 International level gymnasts in 2025. We regularly enter all levels of children in team competitions and friendly events with other clubs. The club has held our Annual Club Competition for all recreational children at the club. We held our AGM although the attendance was low.

We continue to receive a small grant from Jack Petchey Foundation again recognising those children that have made a positive contribution to the school.

We are now working successfully from both Wickford and Rochford premises. We are working to replace our reserves and plan for a re-fit of our Wickford premises within the next 4 years (approx. £100k) therefore need to put aside some excess income. We are mindful that we need to keep additional amounts to offset any dramatic downturn in operations which was highlight during the pandemic. We also have had an accident at our Rochford premises, the circumstances of which are being investigated by the local EHO.

The Independent Examiner is Mr A R Wenden FCCA, of Messrs Elliott, Mortlock, Busby & Co Limited, Chartered Certified Accountants, of 12 High Street, Stanford le Hope, Essex SS17 0EY.

The charity’s bankers are Lloyds Bank Plc Basildon Essex

Karen Shepherd On behalf of the Board of Trustees.

Page 1

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 2025 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.

Basis of independent examiner’s 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 view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) 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 0EY

A R Wenden, FCCA Elliott, Mortlock, Busby & Co Limited Chartered Certified Accountants

Page 2

THE CAROUSEL SCHOOL OF GYMNASTICS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Incoming Resources Gymnastic activities Fund raising receipts Bank deposit account interest 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 Loss on sale of assets General expenses Depreciation Finance Costs - Loan interest Total Resources Expended Net Incoming Resources Reconciliation of Funds Total Funds brought forward at 1 April 2024 Total Funds carried forward at 31 March 2025 The notes on pages 5 to 6 form part of these Accounts.	2025 £ 572,588 5,137 1,415 300 579,440 19,479 10,812 4,025 71,139 1,777 5,089 11,797 367 3,559 537 257,639 3,084 167 3,732 2,994 1,371 1,714 - 2,481 401,763 48,299 8,240 458,302 121,138 631,426 £752,564	2024 £ 453,753 7,331 868 900
		462,852
		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
		352,592 47,119 8,475
		408,186
		54,666 576,760
		£631,426

Page 3

THE CAROUSEL SCHOOL OF GYMNASTICS

BALANCE SHEET AT 31 MARCH 2025 Notes 2025 £ £ Fixed Assets 3 572,939 Current Assets Stock 5,312 Expenses paid in advance 36,005 Cash at bank - deposit accounts 155,424 - current accounts 96,961 Cash in hand 338 294,040 Creditors : Amounts falling due within one year Accruals 4,735 Creditor Finance lease - 21,000 Bank loans 11,889 37,624 Net Current Assets 256,416 829,355 Creditors: Amounts Falling due after more than one year Finance lease 10,500 Bank loan 66,291 Net Assets £752,564 Represented by:- Funds of the Charity Unrestricted Income Funds General purposes fund £752,564 ………………………………. Karen Shepherd For and on behalf of the Board of Trustees Date:…………………….	2024 £ £ 604,400 3,004 36,120 104,829 39,585 2,934 186,472 5,338 11,315 21,000 11,889 49,542 136,930 741,330 31,500 78,404 £631,426 £631,426	2024 £ £ 604,400 3,004 36,120 104,829 39,585 2,934 186,472 5,338 11,315 21,000 11,889 49,542 136,930 741,330 31,500 78,404 £631,426 £631,426
	186,472
	5,338 11,315 21,000 11,889
	49,542

		741,330 31,500 78,404
		£631,426
		£631,426

Page 4

THE CAROUSEL SCHOOL OF GYMNASTICS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025

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 2025

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.

Capital expenditure on premises 15 years 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 2025

3. Fixed Assets

Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for year At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024	Freehold land & buildings Capital expenditure on buildings Equipment and fittings Total 44,228 - 346,913 9,924 324,197 6,914 715,338 16,688
	44,228 356,837 331,111 732,176
	- 15,077 95,861 110,938 - 15,630 32,669 48,299
	- 30,707 128,530 159,237
	44,228 326,130 202,581 572,939
	44,228 331,836 228,336 604,400

4. Trustees’ Remuneration and Expenses

During the year the following payments were made to K Shephard in respect of coaching services provided:

K Shephard £3,683.65

5. Management and Administration of the Charity

Independent examination fee	2025 2024 2,994 3,033

Security

Page 7

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 2025.

7. Operating Lease Commitments

The client has a total commitment, guarantees and contingencies as at year end 2025 of £880,574 (2024: £951,020) 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	2025 2024 £ £ 70,446 70,446 281,783 281,783 528,345 598,791
	880,574 951,020

Page 8