## **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_|
|---|---|
6. **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