Registered charity number 900367 Plymouth Swallows School of Gymnastics Report and Accounts 31 July 2024
Plymouth Swallows School of Gymnastics Report and accounts Contents Page Trustees reporl ndependenl examiner's report Slalement of financial activities Slalement of financial position Notes to the accounts
Plymouth Swallows School of Gymnastics Registered number: 900367 Trustees. Report The trustees present their report and the unaudited financial statemenls of the charity lor the year ended 31 July 2024. The Iruslees have adopted the provisions ol the Slalement of Recommended Practice {SORPI "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic ol Ireland published in October 2019. Reference and adminlslrative details Charity name Charity number Principal olfice The charity is known as 'Plymouth Swallows School ol Gymnastics,. 900367 The Gymnasium Blunts Lane Derriford Plymouth PL6 8BE Contact address 24 Hartley Park Gardens Plymouth PL3 SHU Trustees D Leeworthy J Ca18y R Murray Dr. J K Fisher A Stacey President Chairman Treasurer Accountanls and independent examiner Wills Accountants Limited Chartered Certified Accountants 2 Endeavour House Parkway Court Longbridge Road Plyrnoulh PL6 8LR Bankers Lloyds Banking Group 37 Ridgeway Plympton Plymouth PL7 2AP
Plymouth Swallows School of Gymnaslics Reg istered number: 900367 Trustees, Report Structurei governance and management The trust was established by a constitution adopted on 30th January 1990 and updated on 10 November 2018. The charity is managed by a board of trustees who meet regularly to discuss its allairs. Trustees are invariably drawn from a cross section ol volunteer parents who are appointed at any general rneeling ol the charity. In recruiting new trustees, the trustees have regard to the skills and knowledge that new trustees can bring lo the board. Objectives and aclivities The objective ol the charity is to provide qualiiy gymnastic coaching through the education of young persons who are pupils at schools, universities or other cenlres. Public benelit statement The trustees confirm that they have referred lo the Charity Commission's guidance on public benefit when reviewing the Trust'5 aims and objectives and in planning future activities. Achievements and performance and future plans The last year has seen Swallows enjoy competitive success across both the women's and men's disciplines. Our gymnasts have competed al all levels culminating in Ruby being a reserve for the GB Olympic team. Ruby and her coach Jemma enjoyed the whole Olympic experience being inspired to aim to compete at the next Olympics in Los Angeles. The pre-school classes are proving popular with mosl classes being well supported. We offer two different types ol classes, one is fully led by a coach with no involvement with parents-, the other is coach led bul with parental involvement. Both classes offer a structured approach with an emphasis on building skills, learning to follow inslruclions, which develops interaction and cooperation with their cohort. Adult gym is back to the delight of everyonel Adam is now taking the adult gym group on a Tuesday. His sessions are proving to be very popular and he has built up a large clientele within a short period of time. Recreational gymnastics is still not al its pre-covid level, yet the waiting list is steadily increasing. There are several reasons lor this but the main reason is lack of regular coaches. We have a number of students who coach very effectively but they relurn home al the end of their university term. Unfortunately, their term times don'l mirror ours, which are based on the local school terms. In an ideal world, we like our gymnasts to enjoy conlinuily with their coaching. The office stalf are under particular pressure as the amount ol administration is constantly increasing. There has been a signilicanl increase in the number of people who do not pay their fees, which then involves follow up invoices and emails. Sadly, for the first time ever we have had lo pursue people through the court system. The irony is that when people come and talk lo us about any difficulties they have with paying fees we are invariably able to lind a way lorward. There aro far more children who slart recreational classes and after a short period ol lime stop Iheir classes. often without telling us. This means that the spaces are then offered lo people on the waiting list. with an inevitable delay, which means that there is aways a period of time when classes are running with spaces, resulting in a loss of income. We have investigated why people are leaving and Ihere don't appear lo be any obvious reasons other than a range ol different circumstances.
Plymouth Swallows School of Gymnastics Registered number: 900367 Trustees, Report Suzanne has organised and overseen the developmenl and inslallalion of our new web site, which has been received very positively. We are currently changing the charitable slatus ol Plymouth Swallows., we feel that by becoming an incorporated charity we will lind il easier to altracl trustees as the personal financial liability is reduced. When this process is complete, our founder, Daphne Leeworthy, will retire lully from the charity. would like to lake this opportunity lo thank her lor her initiative. hard work and drive in setting up Plymouth Swallows and it was a wonderful opportunity to be able lo celebrate her 90th birthday a number of months ago. Financial review As outlined in the trustees, report and in line with many other charitable organisalions, the charity's financial performance is adversely affected by the ongoing cost ol living crisis. The charity is in the lortunale position of having substantial reserves to fall back on and the trustees are therefore confident that the charity will weather these challenges. Reserves The trustees are aware that the charity may, al some time in the future, outgrow the premises from which it currently operates. The accumulation of reserves is in response to this risk. Alternative ways ol applying these funds lor the benefit ol the beneficiaries is being considered as the likelihood ol using these funds on its premises diminishes. As noted in the Financial Review, the currenl financial crises are adversely allecting the charity's finances, but the charity's retained reserves are available to help offset this. The trustees therelore consider the level of reserves appropriate for Ihe continuance of th8 charitls activities. Rlsk management The trustees monitor and review the key risks lo which the charity is exposed and are satisfied thal measures are put in place to manage those risks. Specific issues alfecting the charity and the trustees, responses are highlighted above under Achievements and Performance and Future Plans and the Financial Review.
Plymouth Swallows School ol Gymnaslics Regislered number: 900367 Trustees. Report Truslees, responsibilities in relalion to the tinancial statements The charity trustees are responsible for preparing a Iruslees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England and Wales requires the charity trustees lo prepare financial statements for each year which give a true and fair view ol the slate ol affairs of the charity and ol the incoming resources and application ol resources ol the charity lor that period. In preparing the financial statements, the trustees are required lo.. selecl suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible lor keeping proper accounting records that disclose with reasonable accuracy at any tirlle the linancial position ol the charity and lo enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charities (Accounts and Reports} Regulations, and the provisions of the trusl deed. They are also responsible for saleguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The Iruslees are responsible for the tnainlenance and integrity ol the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination ol financial statements may differ Irom legislation in other jurisdictions. Mrs J M Caley Trustee Dale.. 2 January 2025
Plymouth Swallows School of Gymnastics Independent Examiners, Report for Ihe year ended 31 July 2024 Independent Examlners, report to the trustees of Plymoulh Swallows School of Gymnastics I report lo the charity trustees on my examination ol the accounts of Ihe charity lor the year ended 31 July 2024. Responslbllities and basls of report As the charity's trustees you are responsible lor the preparation of the accounts in accordance with the requirements ol the Charities Act 2011 I'lhe Act'l. I report in respect ol my examination of the charity's accounts carried out under section 145 01 the Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl ol the Acl. Independent examiner's statement The charily's gross income exceeded £250.000 and l am qualified lo undertake the examination by being a qualified member of the Association of Chartered Certilied Accounlanls. I have completed my examination. I confirm that no material matlers have come lo my allenlion in connection with the examination which gives me cause lo believe Ihal in any material respect: accounting records were not kept in respect ol the charity as required by section 130 01 the Act- or 2. the accounts did not accord with those records,. or 3. the accoun15 did not comply with the applicable requirements concerning Ihe form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'true and fair view, which is not a matter considered as part ol an independenl examination. I havè 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 lo enable a proper underslanding of the accounts to be reached. usan P Wills Bsc FCA FCCA CTA For and on behalf ol= Wills Accounlanls Limited 2 Endeavour House Parkway Court Longbridge Road Plymoulh PL6 8LR Dale: 2 January 2025
Plymouth Swallows School of Gymnastics statement of financial activllles for the year ended 31 July 2024 Unrestrlcted Restricted funds funds Total 2024 Total 2023 Notes INCOMING RESOURCES Donations and grants 450 4,500 4,950 1,750 Incoming resources from charitable activities 363,435 363,435 338.161 Income from other trading activities 7,025 7,025 10,227 Investment incorne 873 873 285 TOTAL INCOMING RESOURCES 371,783 4,500 376,283 350,423 RESOURCES EXPENDED Expenditure on charitable activities 372,457 5,625 378.082 360,749 Cost of raising funds 4,390 4,390 8,015 TOTAL RESOURCES EXPENDED 376.847 5,625 382,472 368.764 NET INCOMINGI(OUTGOING) RESOURCES 15,0641 11,1251 16,189} (18,3411 trieconclllatlon of funds FUNDS BROUGHT FORWARD 329.189 8,292 337.481 355,822 FUNDS CARRIED FORWARD 324.125 7,167 331,292 337.481 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derives from conlinuing activities.
Plymoulh Swallows School ol Gymnaslics Statement of financial position as at 31 July 2024 Notes 2024 2023 FIXED ASSETS Tangible assels 196,239 187.120 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 4,014 4,896 143,620 152.530 3,352 4,520 153,899 161,771 CREDITORS: arnounls falling due within one year 14 117,4771 111,4101 NET CURRENT ASSETS 135.053 150,361 NET ASSETS 331,292 337,481 FUNDS Unrestricted funds Restricled funds 324.125 7,167 329.189 8,292 TOTAL FUNDS 18 331.292 337,481 Mrs J M Caley Trustee stee Dale.. 2 January 2025
Plymouth Swallows School of Gymnastics Notes to the Accounts tor the year ended 31 July 2024 Accounting policies Basis ofpreparation Plymouth Swallows School ol Gymnastics is an unincorporated trust conslituled in England. The principal office address is sel out in the Trustees, Report. The nature ol the charity's operations and principal activities are lo provide gymnastics coaching through the education ol young persons who are pupils al schools. universities or other cenlres. The charity conslitules a public bellelit entity as defined by FRS 102. The linancial slalements have been prepared in accordance with FRS 102, Accounting and Reporting by Charities". Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in October 2019, the Charitie5 Act 2011 and UK Generally Accepted Aceounling Practice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow slalemenl. Al the lime ol approving the financial slalernenls, the Iruslees have reasonable expeclabon that the charity has adequate resources to continue in operation lor the foreseeable lulure. The financial slalements have Ihereftsre been prepared on a going concern ba51S. The financial statements are presented in sterling which is the functional currency ol the chaiity and rounded lo the nearest £1. The accounts have been prepared on the historical cost convention. The signilicanl accounling policies applied in the preparation ol these financial statements are set out below. Fund accounting General reserves are unreslricled funds which are available for use at the discretion ol the trustees in furtherance ol Ihe general objectives of the charity and which have not been designated lor other purposes. Restricted funds are funds which afe lo be used in accordance with specilic reslriclions imposed by donors or which have been raised by the chality for a particular purwse. In¢oming resources All incoming resources are included in the SOFA when the charity is legally entitled lo the income and the amount can be quantified with reasonable accu¥acy. Grants receivable are included in the accounts when the appropriate amounts have been Quantified. Grants in respect ol tixed assets are credited to income. Income received in advance ol membership periods is deferred until the criteria lor income recognition are mel. Resources expended All expenditure is accounted lor on an accfuals basis and has been classified ullder headings that aggregate all Costs related lo that category. Where costs cannot be directly attribuled lo a particular heading they have been allocated lo aclivilies on a basis consisteat with use ol the resources. Expenditure includes irrecoverable VAT where charged.
Plymouth Swallows School ol Gymnastics Noles to the Accounts for the year ended 31 July 2024 Tangible fixed assets Tangible lixed asseis are initially recorded at cost and subsequently measured al cost, nel ol depreciation and any impairment losses. Depreciation has been provided al the following raies in order to write off the assets over their eslimaied useful lives. Land and buildings Equipment 2•/u 51raighl line 10°/.. 15°/ts or 25Vo slraighi line Slocks Stock is valued at the lower of cost and net realisable value. Debtors and credilors All debtors and crediltsrs are recorded al transaction price. Cash and cash equlvalents Cash and cash equivalents comprises cash in hand and deposits held at call wilh bank5. Penslons The company operates a defined contribution pension scheme. Contributions are charged lo the profil and loss account as they become payable in accordance with the ru18s ol the scheme. Volunteers The linancial value of the eontTibulion of volunteers lo the work ol Ihe charity is not recognised in the accounts. 2 Donallons and grants 2024 2023 Donations reslricled (see note 181 Training grant 4,500 450 500 1,250 4,950 1.750 Incoming resources from charitable activltles Operation olgymnaslics club Fees Fundraising Holiday gym Pre school lees Contribution lo coaches. wages Adult gym Venue hire Ballet Profit on disposal ol lixed assets 2024 2023 311,184 10.485 1.135 34,574 294,936 2.682 936 27,825 1,033 7.663 2,426 160 500 3.157 2.745 155 363,435 338,161
Plymouth Swallows School of Gymnastics Notes to the Accounts lor the year ended 31 July 2024 Expenditure on charilable activities Operation olgymnastics club Direct costs ol charitable activities Isee note 51 Governance cosls15ee note 61 2024 2023 330.322 47.760 313.211 47,538 378,082 360,749 5 Direct costs ol charilable aclivilies 2024 2023 BGA insurance Repairs and maintenance Rates Rent Cleaning 325 9.490 1,802 5,204 6.146 4.179 1.484 21,925 2.434 12,598 1.152 514 4.948 766 5,131 2.384 8,083 4,426 9,789 6,486 15,397 2,791 10,585 528 324 5.984 1,087 60 257,267 Net competitions cost Depreciation Subscriptions and licences Bank charges Sundry expenses Postage and stationery Insurance - charity Telephone Fund raising costs Stall Costs (see note 101 240.244 330.322 313.211 6 Governance costs 2024 2023 Independent examiner remuneration lor independent examination work lor other work Administration lees Staff Costs (see note 101 1,500 1.350 46.260 46,188 47,760 47.538 7 Merchandlslng Income and expenses 2024 2023 Sales ol clothing and badges Cosl ol sales, adjusted for stock 7.025 14.3901 10,227 18.0151 Nel incomellcostl from meTchandising 2,635 2,212 Inveslmenl Income 2024 2023 Bank interest Teceived 873 285 873 285 10
Plymouth Swallows School ol Gymnastics Notes to the Accounts for the year ended 31 July 2024 9 Truslee remuneralion and expenses No Iruslee. acting in their capacity as a Iruslee. received or waived any emoluments during the year12023'. nill. The charity reimburse5 incidental expenses paid on ils behalf by the trustees. 10 Stafl costs 2024 2023 Wages and salarie5 Staff training Pension Idelined conlribulionl costs Social security costs Other stall costs 280,838 1.775 6.222 14.046 646 264,552 1.848 5,935 12.876 1.221 303,527 286,432 AIIDcaled to.. Oirecl costs ol charitable activities Governance costs (based on actual expendilurel 257,267 46,260 240,244 46,188 303,527 286,432 Average number ol staff 23 23 Number of staff with emolumenis in ex¢ess of £60,000 11 Tanglble fixed asselg Buildings Equipment Total Cost Al 1 August 2023 Additions 178,592 192.987 24.516 217,503 371.579 24,516 396.095 At 31 July 2024 178,592 Depreclalion At 1 Augus12023 Charge lor the year At 31 July 2024 51,222 3,572 54.794 133,237 11.825 145.062 184,459 15.397 199.856 Net book value At 31 July 2024 123,798 72,441 196,239 Ai 31 July 2023 127,370 59.750 187.120 The charity occupies the land upon which the buildings it operates from are sited. on a long leasehold basis, subject lo the payment ol ground rent.
Plymouth Swallows School of Gymnastlcs Notes to the Accounts for the year ended 31 July 2024 12 Stocks 2024 2023 Clothing and badges lor resale 4,014 3,352 4,D14 3,352 13 Debtors 2024 2023 Prepayments 4.896 4,520 14 Croditofs: amounts falllng due within one year 2024 2023 Acorua15 Fee income Isubscriptionsl received in advance Other creditors 16,833 644 8,600 1.810 1.000 11.410 17,477 15 Penslon commitments The company operates a defined contribution scheme. The contributions due lo the scheme are disclosed within the stall costs note. 16 Operallng lease commitrnents 2024 2023 The total future minimum lease payments under non-eancellable operating leases are as lollows= Amounts payable: wiihin Dne year within two lo live years in over five years 5.412 21,648 351.780 5.204 20,816 343,464 378.840 369,484 17 Related party Iransactlons Included within creditors due under one year is an amounl ol £nil12023.. £1,000) borrowed from R Leeworthy, a close family rnember of D Leeworthy. The loan is unsecured. interest free and repayable on demand. 12
Plymouth Swallows School ot Gymnastics Notes to Ihe Accounts for the year ended 31 July 2024 18 Analysis of funds The reslricled fund balance represents grants from donors, as detailed below. towards the costs ol gymnasium equipment. The equipment is being depreciated in line with the charity's accounting policy and the unreslricled luTrds balance represents the nel carrying value of the equipment. All other funds are unreslricled funds, none of which are designated. The fund movements and reconciliation between opening and closing balances are shown on the Statement ol Financial Aclivilies. 2024 Balance at start dale Balance al end date Ineome Expenditure Restrlcted lunds Revenue grants SWAGA - hand railslbars Private donation - gym floor DAGA - springboard 4,500 14,5001 7.917 375 8,292 11.0001 11251 15.6251 6,917 250 7,167 4,500 Unrestricled lunds 329.189 371,783 1376.8471 324,125 Total funds 337,481 376.283 1382.4721 331,292 2023 Balance at start dale Balance at end date Incom• Expenditure Restrlcted funds SW AGA - hand railslbars Privaie donation - gym floor DAGA - springboard 94 8.917 1941 11,0001 11251 11,2191 7.917 375 8.292 500 500 9.011 Unrestrleted funds 346.811 349.923 1367,5451 329.189 Tolal funds 355.822 350,423 1368,7641 337.481 19 Analysis of net assels between funds 2024 Restricted funds Unrestrlcted lunds Total Fixed assets Stocks Cash at bank Debtors Creditors 7.167 189,072 4.014 143,620 4.896 117.4771 196.239 4.014 143,620 4,896 {17,4771 7.167 324,125 331.292 2023 Restrlcied funds Unrestricted lunds Total Fixed assets Stocks Cash al bank Debtors Creditors 8,292 178.828 3,352 153,899 4,520 111,4101 187,120 3.352 153.899 4,520 111,4101 8,292 329,189 337.481 13