Charlty reglstratlon numbar NIC101831 Company reglstratlon number N1035633 (Northern Irelandl SALTO GYMNASTIC CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 SALTO GYMNASTIC CENTRE LIMITED LEGALANDADMINISTRATIVE INFORMATION Trustees Mrs E Rutherford Mr J Cunningham Prol M Murphy Mr A O'Reilly Mr J O'Prey Ms R Kells Mr G Neill (Appolnted 16 August 2022) (Appointed 16 Augusi 2022) Secretary Ms A Mcmaster Charlty number NIC101831 Company number N1035533 Prlnclpal addre55 City of Llsbum Naoonal Gymnasllc Warren Park Lisburn BT28 1LW Reglstered offlce City of Lisbum NalhDnal Gymnastlc rr8n Park Llsbum BT28 1 LW Audttor GMCG LISBURN Century House 40 Crescent Bu81ness Pa Usbum BT28 2GN Banker5 DaD8ke 8ank Falls Road Branch 155 Nothumberland Street Belfast BT132JF Sollcltors Millar Mccall Wylle 3rd Floor Imperfal House 4.10 Donegall Square East Belfast BT15HD SALTO GYMNASTIC CENTRE LIMITED CONTENTS Page Truslees report Independent auditols report 5-10 Stalement of financial actlvltles 11 Statement of financial posltlon 12 Statement of cash flows 13 Notes to the financial statements 14-23 SALTO GYMNASTIC CENTRE LIMITED TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2023 trustees present their annual report and financial statements for the year ended 28 February 2023. The financlal statements hav8 been prepared in accordance with lh8 accounting polcies set out in nole I lo the financlal stalemenlS and compty with the CoMpan￿S Articles of ￿socIation, Ihe Companies Act 2006 arKI 'ACCo￿tIng and Reporting by Charities.. Statement of Recommended PrnctiC8 applcable to charitles preparlng th8ir accounts in accordance wllh the Financlal Reportlng Standard applicable In the UK arKI Republlc of IrelarKI {FRS 102)" (effectlve 1 January 2019). Objectlves and actfvitles Salto's mlsslon is to promote lifelong physical actiwty amongst people of all ages through gymnastics educatlon. The organisation provides a wkle programme of acdvSt5es givin9 the opportunlty lor all people rega￿lesS of background to take part in gymnasts'cs for health, fitness and technlcal expwtise. The benefts for all partlclpant5 are broader than learrwng skills and techniques. Salto Gymnasts'c Cenire aims to enhance physical literacy which can serve to increase physlcal activity and reduce health concems cwer chlld obesity and fitness. Our activities and presence In the community can Improve th8 quality of life and wellbeing for all whether they are participants or speclators. In addition to mass part1clpati(￿ 5n gymnastics, the Club h85 added the aspiratlon of deliverlng excellent performance of the ellle gymnast. The trustees have paid due regard to guldance issued by the Charlty Commlsslon in docldlng whal actlvltles the company should undertake. Achlevements and perfornianco Reaching the Communlty At Salto our mlsslon statement 15 'Gymnastics for all" and w8 strlve to grow our membershlp by re&hlng out to the community by off￿ing a variety of gymnastics as folows: Prn.school and rncTration Pre-school and recreational structured gymnastics dasses are avallable from Monday to Saiurday and we have clrca 1000 members each week attending these class8S. Durlng the year we inlroduced the new Brltish Gymnastics Rlse programme which offers a huge vartety of actlvltles to our recreallon programme. This ha$ also been wldely accepted by the Par￿15 who are a￿e to vlew their chlld's progress onllne. Our Recreation Summer scheme wa5 very popular agaln this year as it was fLAly booked for 7 weeks of the summer. This Is opened lo non-BG members and we find that several wlll sign up for the new tenn which commences In September. Our Parent Assisted Class for pre-sch(KJl chlldren contlnues to be popular. Thls Is a partially slructured dass led by our coaches and alows the parents to supeNise thelr own child durlng the session. The Parent Assisted class 18 like a bridge between the Toddler Soft play 5esskons and the fe¢reation classes with Ihe idea In mlnd of children transferring to the Recreation Programme when ellglble. Inclusive We Introduced a recreation class on Salurday aftemoon predominanuy for ¢hldren wllh leamwig (f6abllbties" as parents a￿ more open about ADHD. Autism etq and iecognlse that gymnasts'cs 15 a good source of providing discipllne improving social skills. Schools We provide gYn￿astiC lesson5 for over 14 (Afferent local schools attend our facfllty on a weekly basis to partlclpate in strudured gymnastics classes to fulfil their nalional cuITic￿M adivilies. Thls provides an opportunlty to irrtroduce many chil(tren to the sport of gymnasliGS. It 55 also a means ¢1 talerrt spottSng. SALTO GYMNASTIC CENTRE LIMITED TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Toddle￿ Soft Play Our very popular Toddler Soft Play session5 were well attended, The Toddler Soft Play Is an Important part of Salto's development. Not only do the sesslons provide a steady flow of income but they also introduce toddlers to gymnastics at a very young age, wilh the potential of remaining In the sport by becomlng members of our Recreation Programme and on some occasions our Perfomiance Squad Programme. Adult Gymnastics Our adult gymnastic class Is stlll very popular and numbers Increased during thls finandal year. During the year our Adult class was regularly used by gymnasts from other clubs to help them prepare for the Adult British Championships. Squads Our squads offer a performance pathway for boys and girfs from age 5 upwards. The squad gymnasts are glven the opportunlty to potentlally reach Intemalional level through the squad structure we have in place. With a long history of inlemalional successes, our squad programme Is alvAys in demand. We have over go gymnasts, male and female, on our perfomiance pathway. Other communily benefits During the year we promoted our Young L8ad8r5hip Academy and now have 20 volunteers who come ta the gym each week. The programme Is led by Rachael Irvlne our Recreation Manager who meets regularly wilh the team. Vve held an In.house Wom8n's Artlstlc competition the Yony 8yme Invitatlonal" Invltlng several Northern Ireland dubs to participate. The compelrtion was also lo ralse funds for the MND charity, We hosled four perfomiance educatlonal workshops for coaches and gymnasts lumbling, bar release5, Handstand, and dance for gymnasts. Thls was opened tc anyone who was a member of British Gymnasllcs or Gymnastics Ireland. Achiev8menls Salto Is recognlsed 85 the Natlonal Cenlre cf Excellence In Northern Ireland and we had ljwo gymnasts qualify to compete at the 2022 Bim)ingham Commonwaalth Games - Ewan McAteer who was slxth on vault and Eamon Montgomery who was fifth on Iloor. We also had thr88 gyrnnasts compete at the 2022 European Championshlps- Emily Moorhead. Ewan MG4teer and Eamon Montgomery. Eamon was also selected to compete In the ilbrfd Cup series winning a bronze medal on floor In Baku and a Gold medal on floor in Paris During the year we won Li5bum and Casllereagh Council 'Club of the Yeat. and our male gymnast Ewan McAteer won "sports personallty of the yearf,. Conor McGov8m is our lead Men's Artlstsc c¢ach won the Gymnastics Ireland 'lntemational Coach of Ihe Yearf,. Junlor ellte gymnast Estella Volkoff won the ABC Councll 'junior gymnast of the yearf,. Four of our elite gymnasts received awards from the "Mary Peters TtU5l" to asslst with their preparatlon for the European Championships and Commonwealth Game5. We currently have 10 full time coaches and 13 part-llme coaches on our payroll. We are a dub wilh a strong belief in staff education and provide financlal assistance to encourage where possibl8, staff to develop their coathing skllls and obtain coaching qualifications. SALTO GYMNASTIC CENTRE LIMITED TRUSTEES REPORT IINCLUDING DIRECTOR'S REPORT) (CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 Local community connections In March 2022 Satto In partnership with LCCC, held a "Duathlon Evenf in Wallace Park In LlsbLwn, The event was to ralse funds for the Motor Neurone Dlsease Charity (MND) followlng the dlagnosis of the late Tony Byme, our club founder who sadly passed away In July 2022. We are thankful to Llsbum and Castlereagh Clty Coundl and Sport Nl for their cOn￿nUoUS support and of course our members have been very supportive. We are espedally grateful to our presldert Dame Mary Peters lor her uncondltlonal support. Flnanclal rovlew The results for the perfod are as set out on pages 11 to 22. Th8 charity retumed nel incoming resources of £16.326 (2022 - £169.682). At 28 February 2023 the balance of reserves vms £1.318,852 (2022 - £1.302,526). It is Ihe policy of the company that unrestricted funds whlch have not been deslgnatecl for a spec￿lC use should be maintained at a level equlvalenl to between three and slx month's expenditure. The trustees consider that reserves at this level VAII ensure that, In the event of a Significant drop in fmthng. they VAII be able to ￿ntinUe the ¢￿panY'S rrent actlvltles while conslderalion Is ￿Ven to ways in whlch adthtional funds may be raised. Thls level ol reserves has been malntained thmughout the year. Structuretr governance and management The company Is a company1Smiled by guarantee. fO9Stered with Ihe Ch*ity Commisslon for Northern Ireland and reg15l8red charlty for laxatlon purposes. The Iruslees. are also Ihe (lirectors for the purpose of company law, and served during Ihe year and up to the date of slgnature of Ihe financial statanents were: Mrs E Rulherford Mr J Cunnlngham Prof M Murphy Mr T Byme MrA O'Reilly Mr J O'Prey Ms R Kells Mr G Nelll {Reslgned 14 J(Ay 2022) (Appolnted 1 S August 2022) (Appolnted 16 August 20221 None of the trustees has any benefid81 knierest In Ihe company. All of the truslees are members of the company and guarantee to conlribule £1 in the event of a winding up. SALTO GYMNASTIC CENTRE LIMITED TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Statement of trustees responslbllltle5 The trustees, are also the directors of Salto GymnastSc Centre Limited for the purpose of COMI￿nY law, a responslble for preparing the Trustees Report and the financial slatements in accordance with appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice). Company Law requires the trustees to prepare financial 51atements for each financlal year whlch glv8 a true and falr view of the state of affairs of the ¢ompany and of the Incoming resources and appllcatlon of r&sources, Including the Income and expenditure, of the charitable company for that year. In preparlng these financial stat8m8nts, the trustees are required to: select suitable acc¢untlng policies and then apply them conslslently; observe the methods and princlplas in the Charities SORP 2019 (FRS 102); make Judgement5 and estlmalas that are reasonable and Pfudent; stste whether applEcable UK Accountlng Standards have been followed, subject to any malerial departures dlsclosad and explalned In th8 financial statements; and prepare the financlal statements on the going concern basis unless 11 Is inapproprlate to presume that the company will contlnue Sn operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any tlme the financial position of the company and enable them lo ensure that the financlal statements comply with the Companles Act 2006. They ar8 a150 responslble for safeguaiding the assets of the company and hence for taking reasonable steps fcr the prevention and detection of fraud and other irregularftle8. Audltor In accordance wilh the company's articles, a resolution pfoposlng that GMGG LIS8URN be reappoinled as audltor of the company wlll be pul at a General Meeting. Dlsclosure of Infomiatlon to audltor Each of Ihe trustees ha5 confimied that there Is no Information of which Ihey are aware which Is relevanl to the audit, but cf which the auditor Is unaware. They have further confimed that they have iaken appropriate steps to Identify such relevant Information and to establish that the auditor Is aware of such infomatlon. Thls report has been prepared in accordance with the provlslons applicablé to companies entltled to the small companies, exernpilon5. The Irustees report was approved by the Board of Twslees. Ms A Mcmaster Charlty Secretary SALTO GYMNASTIC CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALTO GYMNASTIC CENTRE LIMITED Oplnlon We have audited the financial statements of Satto Gymnastic Centre Limited (the 'company') for th& year ended 28 February 2023 which comprise the statement of financial activlties, the slatement of financial position. the statement of cash flo￿$ and noles to the financial statements, Including sSgnificanl accounting policies. The finarKial reportlng framework Ihat has been applled in thelr preparation is applicable law and United Klngdom Accountsng Standards, including Flnancial Reporting Standard 102 The Financial R8POrting Standard applicable in the UK and R8publk ol Ir81and (United Klngdom Generally AC￿pted Accounts'ng Practs'ce). In our op5nion. the financial statemenls.. give a true and fair view ol the state of the charitable company's affairs as at 28 February 2023 and of Its Incomlng resour￿ and apF4icatlon of rasouices. Including its Sncome and exp8nditure. for the year then ended.. have been properly prapared in accordance with Unlted Kingdom Generally Accepted Accounting pract1￿., and have been prepared In accordance wlth the requlrements of the Companies Act 2006. 8asls foroplnlon We conducted our audit in accordance with Inleinational Standards on Audltlng (UK) (ISAS (UK)) and appllcable law. Our responslbililies under those slandards are lurther describad In the Audltorfs responsibililles for the audil ol the finano'al st8tements section of our report. We are Independent of the company In accordance V•ryth the ethical requlrements that are relevant to our audlt ol Ihe financlal statements In the UK, Includlng the FRC'S Ethical Standard, and we have fulfhled our other ethlcal responsibilits'es in accordance with these requliements. belleve that the audlt evid8nce we have oblained is sufficient and appropn'ale to provide a ba515 for our opinlon, Concluslons relatlng to golng concern In auditlng the financial statements, we have conduded Ihat Ihe trustees use of the going concem basis ot accounting in the preparatlon of the financial statemenls Is approprlate. Based on the work we have perf¢rrned, we have not identtfied any material uncertalnties relating to events or condilions that, individually or colleth'vely, may cast significant doubt on the company's abillty to continue 85 a going concem for a period of al least twefve months from when t￿ financial statements are authorlsed for issue. Our fesponsibllilies and the responsibilltles of tha trustees wllh respect to going concam are descrlbed in the relevant sectlons of this report. SALTO GYMNASTIC CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SALTO GYMNASTIC CENTRE LIMITED Other Informatlon The other Information comprlses the Infomiation Included in Ihe annual report other than the finarr¢al statements and our audilor's r8POrt thereon. The trustees are responslble for the other inft)rmallon contained within the annual Teport. Our opinlon on the finandal statements does not cover the other Information and, excepl to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsiblllty Is to read the other inforniatlon and. In dolng so, consider whether the other Inforniation Is materially inconslstent with the financial statements or our kno￿edge obtained in the course of the audil, or otherwise appears to be malerlally misstaled. If we identlfy such material Inconslstencies or apparent maierlal mlsstalements, we are required lo determine whelher this gives rise to a materlal misstatement in the financial stslement5 themselves. If, based on the work we have perfomied, we conclude that ther8 is a malerlal misstatement of Ihls other information. we are requlred to report that fact. We have nothing lo report In Ihls ragard. Oplnlons on other matters prescrfbed by the Companles Act 2006 In our opinlon. based on the work undertaken in the course of our audrt.. the Information glven in the truslees report for Ihe financlal year for which the financial statements are prepared, whlch includes the directors, report prepared for the purposes of company law, 56 Consistent wlth the financial stalemenls,. and the directors, report Included within the trustees report has been prepared In accordance with appllcable legal requirements. Matters on whlch we are r8qulred to report by exceptlon In the light of the knowledge and understandlng of the company and Ils environment obtained In the course of the audit, we have not Sdentlfi8d material misstatements in Ihe dliectors. report Sncluded wlthln Ihe trustees report. We have nothlng lo report in respect of the lollo￿Thg matters In relation to whlch the Companles Aci 2006 requlres us to report ID you if, in our opinion: adequate accounllng records have not been kept, or returns adequate for our audit have not been received from branche5 not vlsiied by us; or the financlal statements are not in agreernent W51h the accounllng records and retums: or certain dlsclosures of trustees. remuneration spedfied by law are not made., or we have not recelved all Ihe Infomiation and èxplanations we require for our audit,, Or the trustee5 were not enliued to prepare the financlal statements In accordance with the small companies regime and take advantage of the small companies, exemplions in preparing the truslees report and from the requirement to prepare a strategic ieport. SALTO GYMNASTIC CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SALTO GYMNASTIC CENTRE LIMITED Responslbllltle3 of trustees As explained more fully in the statement of truste8s responslbllities, the trustees, who are also the directors of the company lor the purpose of company law, are responsible for the preparallon of the financial statements and for belng satisfied that they give a true and lair v58w. and for such Internal control as the trustees detemiine is necessary to enable the preparation of financlal statements that are free from malerlal misstatement, whether due lo fra￿ or emr. In preparing the finan(aal statements, the trustees are responsibl8 for assessing the company's abilty to contnue as 8 going concern, discloslng, as applicable. matters relaled to going concem and uslng the going concem basis of accountlng unless the trustees either kntend to Ilquidate Ihe charitable company cff to cease Dperatlons, or have no reallstic alternative but to do so. Audltorfs fesponslbllltles for the audlt of the flnanclal statsm•nts Our objectives are to cbtaln reasonable assuranc? about whether the financial statements ag a whole are free Irom material mi5Statement, ¥*hether due to fraud or error, and to Issue an aUdit¢￿S report that includes our oplnion. Reasonable assurance Is a high level of assurance but is nol a guarantee that an audit conducled in accordance with ISAS (UK) will always detect a material mlsstalement when It exists. Mlsslatements can arise frunls presented In the finandal statemenls, when there is a legally enforceable rlght to set off the recognised amcunts and there is an Intentlon to settle on a net basi5 or to realise the asset and settle the liability simultaneously. Baslc financlal assets Baslc financial assets, which Include debtors and cash and bank balances, are initlally measured at transactlon prlce induding transaction costs and are subsequently carrled at amortlsed cost using the effecllve Interest method unless the awrangemenl constitutes a finandng transaction, where the transaction is measured at the presenl value of the future recelpls discounted al a market rate of inl8rest. Flnancial assets classlfied as receivable within one year are not amortlsed. 15- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Accountlng pollcles Icontlnued) BasAc flnanclal liabilities Basic financlal liablllties, includlng creditors arKI bank loans a￿ Inltially recogn158d al transactlon price unless the affangemenl constitutes a financing transactlon, where th8 debt instrument Is measured at the present value of the futu￿ payments dlscounted at a market rate of inleresl. Financial liabililies da551fied as payable within one year are not amortised. Debt Instruments are subsequently carrled at amortised cost. using the effective interest rate method. Trade creditors are obligatlons to pay for goods or services Ihat have been acquired In the OrdIn￿ course of operations from suppliers Amounts payable are classified as current Ilablllties if payment is due wilhin one year or less. If not, they are presented as non-current liabilities. Trade credltois are recognised Inltlally at transaclion prlce and subvJquenlly measured at amortised cost uslng the effectlve Inlerest melhod. Derecognitlon of Ilnanclal Ilabllltles Financlal Ilabililies a￿ derecognlsed when Ihe company's contractual obligations expire or are discharged or cancelled, 1.10 Employee beneflts The cost of any unused holiday eniltlement is recognised In the period In whlch the employee's services are recelved. Temiination benefits are recognlsed immedlately as an expense when the Gompany Is demonstrably commltted to termlnate the employment of an employee or to provlde termSnatlon beneffts. 1.11 Retlrement b8neflts Payments to defined contrlbutlon rellrement benefit Schemes are charged as an expense a5 they fall due. Crftlcal aGcountlng estlmatu and Judgements In the application of the company's accounting policle5. the trustees are required to make judgements, estimates and assumptlons about Ihe carrylng amount of assels and liabS1ilies thal are not readlly apparent from other 50urc8s. The estimates and associated assumptions are based on historical experience and other faclors thai are considered to be relevant. Actual results may differ from these estlmates. The estimates and undeflying assumptions are reviewed on an ongolng basis. Revisions to accounting estlmates are recognised In the period In which the estimate Is r8Vi5ed where the revlslon affects cnly that perlod. or In the perlod of the revlsion and future periods where the revision affects both current and future periods. Key sources of gstlmatlon uncertalnty Flxed assets The annual depreciation charge on fixed assets (lepends primarily on the e511mated lives of each type of asset and estifflates of residual values. The direclors regularly ieview th85e assets 1Sves and change them as necessary to reflect current thinkln9 on remaining lives In Ilght of prospective economic utilisat1￿ and physical condilion of the assets concemed. Changes In assets lives can have a slgnrficant Impact On depreciation charges for the period. DeLgiI of the useful lives Is included in the accounting policies. Restrlcted and unre5tr1cted funds Judgements are made in relation to allocalion of Income and expenditure lo r85tricted and unrestrfcted funds. The directors consider it appropriate to allocate these fund5 based on interpretation of donations received. 18- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Donauons and legacles Unrestrlcted Unrestrlcted funds funds 2023 2022 Grants recelvable f￿ core actlvities 5,500 88,601 Grant8 recelvable lor core actlvltles Coronavirus Job Retention Scheme Sports Sustainabllty Grant British Gymnastics Club Support Funding Lisbum & Casllereagh City Council Macron Other 71,058 11.407 2.000 1,751 3,000 2.500 385 5.600 86.801 Charftable actlvhle5 Unrestrl¢ted Unrestrlcted Funds Funds 2023 2022 Fees & subscrilions Comp8titl¢n Income 436.311 9.262 332,228 4.740 445.573 336,968 Other tradlng actlvltles Unrestrlcted Unrestrlcted funds funds 2023 2022 Vending & Fundraising Income Shop & Merchandlse Income Accommodation Income Grft ￿'d Receipts 8,935 11,714 9.072 10,426 3,978 4.389 5,750 4.043 Other tradlng activili•g 40,147 18,160 17- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Investments Unrestrlcted Unrastrfcted funds funds 2023 2022 Interest recelvable 219 897 Other Income Unrestrlcted Unrestrlcled funds funds 2023 2022 Net galn on d5sp05al of tangible fixed assets Insurance Clalms Receivable 10,594 9,418 109,674 20,012 109,874 Ra151ng funds Unrestrfcted Unrestrlcted funds funds 2023 2022 Shop costs 18,261 4.365 18,281 4.365 18. SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Charltabla actlvltles Promotlon of Ilfelong physlcal actlvlty through gymnastlcs 2023 2022 Staff costs Deweciats'on 8nd Impairment Rates & water tharges Llght & heat Repairs & maintersance Insurance Travel & competitlon fee5 Legal & professional fee$ Telephone Stationery & sundry expenie8 320,594 59,542 1,105 20,363 13.402 11.077 16,789 1,230 1.018 7,335 276,083 40,883 1,764 8.033 4,939 5,381 11.473 660 538 9.816 452.455 359,570 Share of support costs (see note 10) Share of governance costs (see note 10) 21,409 3,000 15,259 3,424 476,864 378,253 10 Support cost• Support Gov•rnanc• costs osts 2023 Support Governanc• costs Costs 2022 Development & Pth wages and Irainlng Bank Charges 5.311 16.098 5.311 16,098 1,533 13,726 1,533 13.726 Audlt & accountarKy fees 3.000 3,000 3,424 3.424 21.409 3.000 24.409 15.259 3,424 18,683 Analysed betrween Charltable activilies 21,409 3.000 24,409 15,259 3,424 18,683 Govemance costs Includes payments lo the ￿dItOrS of £3.000 (2022- £3,000} for audit fees. 11 Trustees None of the trustees lor any persons connected véith them) rtteived any remuneratlon or benefits from the Company during the year. 19- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 12 Employees The average monthly number of employees during the year was: 2023 Number 2022 Number Coachlng Staff Admin & Development Staff 21 19 Total 23 21 Employment costs 2023 2022 Wages and salarles Social securlty costs other penslon c05tS 300,187 11,845 8,562 257,191 10.329 8,563 320,594 276,083 The charlty conslders Its key management personnel to comprise of th8 Board of Dlrector5, the Chlel Executive, the office manager, the recrealion manager, the head of the MAG squad and the head of Ihe WAG squad. The total employment benefi15 includlng employer pension conlribullons of the key management personnd were £140,297 (2022- £105.4331. There were no employees whose annual remuneration was more than £60.000, 13 Taxatlon The charity is exempl from tax on Income and galns falling wlthln section 505 of the Taxes Act 1988 or section 252 of the Taxaiionof Chargeable Galns Acl 1992 to the extent that these are applied lo Its charitable objects. -20- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 14 Tanglble Ilxad assets Freehold land and I￿lIdIn Plant ond Flxture8 and •qulpment flttlngs Cost At 1 March 2022 Addlllon5 Disposals 1.217.069 298.201 48.978 (26,498) 30,256 81,306 1,545,526 130,284 (26,498> At 28 February 2023 1,217.069 320.681 111.562 1.649.312 Depreclatlon and Impalrnient Al 1 March 2022 Depreclation charged in the year Ellmlnaled In respecl of dlsposals 364,551 24,341 238.086 21.719 (21.592) 21.683 13,482 624,320 59,542 (21,592) Al 28 February 2023 388.892 238.213 35.1e5 662,270 Carrylng amount At 28 February 2023 828,177 82.488 76,397 987.042 At 28 February 2022 852,518 60.115 8,574 921,207 15 Stock8 2023 2022 Raw materials and consumables 2.451 1,000 16 Debtorn 2023 2022 Amounts falllng due wlthln one yoar. Other debt¢xs Piepayments and accrued Income 8,727 3,188 4.265 40,312 11.915 44,577 17 Crndltors: amounts falllng due vAthln one year 2023 2022 Other taxallon and soclal secwity Ottr￿r creditors Accruals and deferred income 1821) 2,181 7.356 (2.226) 4,831 7.892 8.716 10,497 21 SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 18 Rellrement bonafit schemes Defined contrlbutlon schemes The company operates a defined contrfbutlon pension scheme for all quallfying employees. The assets of the scheme are held separately from those of the company in an ind8pendently administered fund. Th8 charge to profit or loss in ￿spect of defined contribution schemes was £8.562 (2022 - £8.583). 19 Deslgnated funds The Income funds of the charity Include the following designated funds which have been s8t aside OLrt of unrestricted funds by the trustees for specific purpos&s'. Movemènt In funds Incoffilng Balanc• al ruourcm 1 March 2022 Movement In funds Incomlng r•iourc Balance at 28 F•bruary 2023 Gym repair5 and mantenance 17,000 17,000 17,000 17,000 The board have agreed to deslgnala the above funds for the purchase of new gym carpet. 20 Operatlng leage commltments Al the reporting end dale the company had outstandlng comffliimenls for future mlnimum lease payments under non•cancellable operating leases, ththich fall due as follows.. 2023 2022 thin one year Betrween two and five years In over five years 749 2.246 695 2,995 562 2,995 4,252 21 Rolated party transactlons There were no di5closable related party transactions durlng the year12022 - none). -22- SALTO GYMNASTIC CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 22 Cash generated from operntlon8 2023 2022 Surplus for the year 18,326 169,682 Adjustmenis for.. Investment income recognlsed in statement of financial activllies Gain on dlsposal of tangible fixed assets Depreciation and Impaimient of tanglble fixed asset5 (219) {10,594) 59.542 (697) 40.883 Movement5 in Y￿rkIng capltal: Ilncrease) in stocks Decreasel{increase) in debtors (Decrease) In creditors (1,451) 32,663 {1,781) (550) (24,551) (6,800) Cash generated from opgratlons 94.486 177.967 23 Analysls of changes In net funds The Company had no debt during the year.