**Company No. 2585823 (England and Wales) Registered Charity No. 1002258** ## **HARROW SCHOOL OF GYMNASTICS** **(A Company Limited by Guarantee)** **REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS** **YEAR TO 31 MARCH 2024** **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** |**CONTENTS**|PAGE|PAGE| |---|---|---| |COMPANYINFORMATION|3|- 4| |DIRECTORS
REPORT|5|9| |INDEPENDENTEXAMINER
SREPORT||11| |STATEMENT OFFINANCIALACTIVITIES||12| |BALANCESHEET||13| |STATEMENT OF CASHFLOWS||14| |NOTES TO THEACCOUNTS|15-20|| 2 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** ## **YEAR TO 31 MARCH 2024** ## **COMPANY INFORMATION** **----- Start of picture text -----**
Registered Company No 2585823
Registered Charity No 1002258
Directors (including those who served for any part of the Financial Year)
Chair Nisha Pujara/ Rosie Williams
Treasurer Weldon Ramirez (Resigned 1 May 2024)
Other Samantha Wallace
Karsten Shaw
Madeleine Malliwal (Appointed 17 September 2024)
Principal Address and Registered Office 186 Christchurch Avenue
Harrow
Middlesex HA3 5BD
Key Personnel and Professional Advisers
General Manager Felicity Copp
Health, Safety & Welfare Officers Rosie Williams
Head Coach Olivia Curran
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3 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** **----- Start of picture text -----**
Bankers NatWest Bank Plc
80 Shenley Road
Borehamwood
Hertfordshire WD6 1DZ
United Trust Bank
1 Ropemaker Street
London EC2Y 9AW
Hampshire Trust Bank
PO Box 74003
London EC2P 2QR
Human Resources Safe HR
18E Charles Street
Bath BA1 1HX
Accountants
Stephen Meredith FCA DChA
Alliotts LLP
Chartered Accountants
Manfield House
1 Southampton Street
London
WC2R 0LR
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4 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** The Directors, who are also charity trustees under charity law, present their report and the financial statements for the year ended 31 March 2024. ## **1 STRUCTURE, GOVERNANCE AND MANAGEMENT** Harrow School of Gymnastics was founded in 1979 but moved to its current site in 1991. Harrow School of Gymnastics is a registered charity and is also a company limited by guarantee. The members of Harrow School of Gymnastics are the gymnasts or, in the case of a gymnast under the age of 18 years, a parent. The Directors of Harrow School of Gymnastics are also the charity trustees. They are volunteer members who are elected at the Annual General Meeting by members present at the meeting. One-third of the Directors are required to retire each year and may offer themselves for re-election. As well as administrative tasks the Directors are responsible for the strategic direction, major decisions of the school and the generation and continuous review of school policies. They also work closely with the General Manager and Head Coach to generate and monitor the school development plan. They also have overall responsibility for Human Resources within the school. However, operational and day-to-day management is delegated to the General Manager. Directors can be members of the gym or parents of junior members who take part in either General Gymnastics or Competitive Gymnastics. Non-members may also be appointed as Associate Directors, but they would not have any voting rights. Interests. The representative on the Board of Directors for Health, Safety and Welfare is currently Rosie Williams Harrow School of Gymnastics is affiliated with British Gymnastics, the governing body for the sport of gymnastics in the United Kingdom. ## **2 OBJECTIVES AND ACTIVITIES** The objective set out in the Memorandum of Association is the provision of gymnastic coaching and facilities. its geographic area of operations, i.e., the London Borough of Harrow and surrounding areas. Harrow School of Gymnastics provides gymnastics coaching in two broad categories: - Recreational gymnastics (also known as General Gymnastics or Gymnastics for All): typically, in classes of one hour per week for all ages from toddlers to adults. ## **3 ACHIEVEMENTS AND PERFORMANCE** Harrow School of Gymnastics continues to be well-used by the community. The Directors continue working towards a solution with Harrow Council which will increase their capacity to meet the increasing demand. 5 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** **----- Start of picture text -----**
Year to Year to Year to Year to Year to Year to Year to
March March March March March March March
2018 2019 2020 2021 2022 2023 2024
Recreational:
Play gym (age under 5 48 50 48 21 52 60 68
years)
Pre-school (ages 3 5 202 170 157 0 127 134 176
years)
Gymnastics for All (ages 5 998 1,031 1,101 721 1,002 1,139 1154
15)
Adult gym 32 35 32 24 46 40 42
Competitive:
47 31 23 18 21 21 23
37 42 44 29 69 42 47
Total 1,364 1,359 1,405 813 1,317 1,436 1510
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In addition to regular gymnastics training and classes, there were: 1. 126 Parties of up to 40 children, (136 in 2022/23) 2. 48 Train and Play sessions (52 in 2022/23) - 4 British Gymnastics helper courses were held in the gym - 1 coach passed their level 1 coaching qualification - 2 coaches passed their level 3 modules - Harrow held Artistic regional training for London. ## **3.1 HIGHLIGHTS IN GYMNASTICS FOR ALL (FORMERLY KNOWN AS GENERAL GYMNASTICS) 2023/24** - 281 gymnasts competed at the Club Championships (352 in 2022/2023). - 176 gymnasts performed at the Winter Wonderland showcase - G ymnasts of the Year were Sienna Joseph Edwards and Dhrushil Vekaria Coach of the year was Abi Lewy. ## **3.2 HIGHLIGHTS IN COMPETITIVE GYMNASTICS 2023/24** ## **BOYS** **----- Start of picture text -----**
April Pipers Vale Challenge 1 bronze AA
3 apparatus Silver
1 apparatus Bronze
May London Open 1 Gold medal AA
2 Individual Gold medals
2 Individual Silver medals
5 Individual Bronze medals
June British Teams 5 [th] team
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6 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2024** |||| |---|---|---| |September|London Regional Qualifier|3 Individual Gold medals AA
1 Individual Silver medal
2 individual Bronze medal
8 Apparatus Gold medals
3 Apparatus Bronze medals| |November|GB selection|1 GB selection for 4 way
International| |December|Piper Vale Cup|1 Apparatus Silver medal| |March|English Championships
British Championships|1 boy 6thon Pbar
4 finals, 1 Apparatus Bronze medal
4th, 6thand 7th| December National Finals 1 Individual Bronze medal In addition, 1 boy earned a space in the reward camp at Lilleshall ## **GIRLS** ||||| |---|---|---|---| |April||1 x GB Junior Squad selection
Compulsory Grades Regional
Qualifier
National Grades Regional
Qualifier|2 gold medals AA
1 Silver medal AA
1 X Gold AA
3 x London National Final Members, 2 x Reserves| |May||Compulsory 2 National Final|1 Gold medal Vault
1 Silver medal Bars| |June||London Teams
Regional Qualifier|1 Team Gold
2 Team Silver
1 Team Bronze
1 Gold AA
1 Bronze AA| |July||4 Way International|1 x GB international selection
1 x Gold on Vault| |August|||4 gymnasts selected to attend BG Reward day for top
Compulsory Grade gymnasts| |October||Classic Challenge
Regional Finals|2 AA Gold medals
3 AA Silver medals
5 AA Bronze medals| 7 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2024** |||| |---|---|---| ||Levels and Compulsory
Grades
British Teams|7 x apparatus Gold, 7 x apparatus Silver, 9 x apparatus
Bronze
4 x Gymnasts selected to represent London at National
Finals
2 x Gymnasts achieving qualifying score to help qualify for
the British Championships
2 x AA Gold
2 x AA Silver
1 x AA Bronze
5 x apparatus Gold, 2 x apparatus Bronze 2 x Compulsory 4
passes
1 x Compulsory 3 pass
Team 7th
1 x Gold AA| |December|Level 2 National Finals
Classic Challenge National
Finals|1 x Gymnast selected for Scottish Performance Pathway
Squad
1 x Silver AA
1 x Gold Vault and Floor
3 girls qualified for the British Championships
1 x Team Bronze
1 x 5th and 6th AA
1 x Bronze apparatus medal
13 gymnasts selected for Regional Squad| |February|Scottish Championships
Preparation and
Developmental Grades|1 x Silver AA
3 x Bronze apparatus medals
From these results, 1 x selection for International
Competition - Caledonian Cup
4 x Gold AA
1 x Silver AA
2 x Bronze AA| |March|English Championships
Quatro Cup
British Championships|Aspire - 8th and 11th AA, 4th on floor, 5th on vault, 6th on
beam Junior - 13th AA
Senior - 8th AA, 5th on Floor
2 x Gold AA
1 x Silver AA
1 x Bronze AA
9 x apparatus Gold, 10 x apparatus Silver, 5 x apparatus
Bronze
Aspire - 3 Gymnasts competing - 6th AA and qualified for
Floor and Vault finals Gold in floor final
Junior - qualified for vault final, finished 4th in Vault final
Senior - 18th AA and 9th on Vault| In addition to the above results, 2 Gymnasts qualified for GB aspire squad 3 Gymnasts selected for England Squad. 8 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** ## **4 PUBLIC BENEFIT** when Discounted rates are offered to individuals where families are in hardship. The club provides free gymnastic sessions to Special Needs Schools in the Harrow area and discounted gymnastic sessions at 50% to Special Needs Schools in the Hillingdon/Brent area. During the year. - The club hosted three Harrow school competitions. - There were 9 gymnastic sessions provided free of charge to Special Needs Schools. - There were 53 sessions provided at a 50% reduction to Special Needs Schools The club also provided the judges free of charge for the Harrow Primary Inter Schools competition. Free playgym sessions are also donated to local schools as prizes in their fetes. We have provided almost £2000 in Hardship remissions from both general gymnasts and competitive gymnasts. ## **5 FINANCIAL REVIEW** The financial results for the year to 31 March 2024 are set out on pages 12 to 20. Funding is from members via fees with a small amount of additional fundraising to support specific areas of our work. All funding goes towards the provision of training and training-related facilities and equipment. Unrestricted income was £922,385 compared with £803,046 in 2022/23, while related expenditure was £732,402 compared with £654,865 in 2022/23. There was an excess of income over expenditure of £189,983 compared with £148,181 in 2022/23, which has been added to unrestricted reserves. There is no restricted reserve balance at the end of the year. T known risks and future plans. Free reserves are those funds which are not committed to specific projects or invested in fixed assets. The Directors have established a policy that Harrow School of Gymnastics should have a minimum free reserve of six months budgeted expenditure, which is approximately £250,000. This will enable Harrow School of Gymnastics to meet its objectives if it faces a loss of income or unexpected increases in unfunded costs. The total free reserves at 31[st ] March 2024 were £1,327,486, which is in excess of the target. ## **6 ACHIEVEMENTS OF THE BOARD OF DIRECTORS IN 2023/24** Public benefit continues to improve and increase in provision. HSoG now host all Harrow gymnastics school competitions in house, and provide all of the officials at the competitions. The directors continue to review of the governance of the club and implement improvements. The School has increased capacity in nearly all provision - Weekend preschool +48 spaces - Teen gym open session +20 spaces - Increased capacity in after school general gymnastics classes, reducing waiting list times, and allowing more local children to benefit from Gymnastics. +48 spaces - Total of 4 new development groups in the competitive gymnastics programme 9 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** The School has focused on developing professional growth of coaches as well as improving staff wellbeing. The School have introduced academy coaches, offering young people a route into gymnastics coaching, which is funded by the club ## **7 PRIORITIES FOR 2024/25** - The overriding priority of the Directors continues to be to ensure the smooth running of the gymnastics school and to ensure the welfare, care and security of members and staff. In addition, Directors will continue to determine strategy of the gym and continue to develop the offering of the school, ensuring personal development of coaches and work towards high satisfaction of members and gymnasts. - Harrow School of Gymnastics will embark on generating a greater presence of the club through rebranding and other public relations activities. - Extension plans finances, background work for planning permission and liaison with relevant external bodies (council) - Harrow School of Gymnastics will continue building relationships with the local community including schools and other sporting organisations to ensure that it benefits not just its members but the whole community in Harrow and the surrounding area - Harrow School of Gymnastics will seek to revamp the website to ensure effective communication with parents, gymnasts, the wider community and other stakeholders, which reflects the current provision within the club. ## **8 STATEMENT OF DIRECTORS ESPONSIBILITIES** The directors are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law required the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and the Charities SORP have been followed, subject to - any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The directors are responsible for maintaining proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company, and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the Directors at their meeting on and signed on their behalf 20/01/2025 by Nisha Pujara 10 **HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee)** **YEAR TO 31 MARCH 2024** I report to the charity trustees on my examination of the accounts of Harrow School of Gymnastics for the year ended 31 March 2024, which comprise the Statement of Financial Activities including Income and Expenditure, the Balance Sheet, Statement of Cash flows and the related notes. These financial statements have been prepared under the accounting policies set out therein. ## **Responsibilities and basis of report** The trustees (who are also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under Section 145 of Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants England and Wales which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2) the accounts do not accord with those accounting records; or 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have 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 to enable a proper understanding of the accounts to be reached. Stephen Meredith FCA, DChA Alliotts LLP Manfield House, 1 Southampton Street, London, WC2R 0LR Date: 20/01/2025 11 HARROW SCHOOL OF GYMNASTICS (A Compan). Limited b)" Guarantee} YEAR TO 31ST MARCH 2024 Statement of Financial Activities (Including Income and Expenditure Account) Tutal Funds Year ended 31103123 {lJnrestricfrd) Unrestricted Funds Total Funds Year ended 31103124 Notes Income from: Donations 19 19 23 Charitsble activities 852,016 852,016 747,879 Other incoming resources Government grants recei￿.ed Investments 53.336 53,336 50,500 17.014 17,014 4,644 Total Income 922.38) 922,38S 803,046 Expenditure on: Raising funds Charitsble Actii'ities 44,423 44,423 42,109 687.979 687,979 612,756 Total expenditure 732.402 732,402 654,86) Net Income before Transfers 189,983 189,983 148,181 Transfer BettN'een Funds Net movement in FundslNet in¢ome for tbe year 189.983 189,983 148,181 Reeoneiliation of Funds Total tunds br(Trught fonvard at l April 2023 Total tunds carried toN'ard at 31 March 2024 1.260.992 1.260,992 112.811 1.4iO.975 1.45O,97S ,260.992 The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other ihan ihose passing ihrough the SthLemeni of l-.inancial AcLiN'ities. Thcrc arc no funds othcr than thc unrcstrictcd funds in thc currcnt or comparativc vcar. 12 HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) AS AT 31 MARCH 2024 Balance Sheet Notes 2024 2023 Fixed Assets Tangible Assets 123,489 171,329 Current Assets Stock 6.730 6,280 93,261 1.093,716 1,193,257 Debtors 49,063 1.384.793 1.440.586 Cash at bank & in hand Curreni Liabililies Creditors- Amounts falling due within one year 13.100 103,594 Net Current Asset5 1,327,486 1,089,663 Total Net Assets 1.450,975 1,260,992 Funds Unrestricted - Invested in Fixed Assets 123.489 171,329 1,089.663 1,260,992 Unrestricted - Free Reserves 1,3?7,486 1,450.975 Total Funds The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended J l March 2024. No meniber of the company ha5 dep051ted a notice, pursuant to section 476, requiring an audit of these accounts. The Trustees, responsibilitie5 for ensuring that the charity keeps accounting records ￿,hICh comply with Section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including it5 income and expenditure, for the fLnancial year in accordance with the requirements of sections 394 and 395 and w'hich othenvise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. The accounts on pages 12 to 20 were approved by the Direciors on 2010112025 and signed on their behalf by: Nisha Puiar3 iJ3r 20, 202) L2.'05 GIIT! Nisha Pujara Director Company number- 02585823 13 HARROW SCHOOL OF GI"NIN..ISTICS (..I Companv Limited b!. Guarantee) 'EAR"I'0 31S'I' NI_IRC:H 2024 Statement of Cashflows 2024 2023 Cash flows from operating actii'ities Cash g¢n¢Tat¢d from/{absorkd b).) op¢rations 281.481 205,88? -Yct eash inflo)vl{outfloTh) from opernting aetiTrities ?81.481 205.882 Investing activities Pajments io acquire fixed assets {7.7641 (16,5141 Intcrcst rcccivcd 17.014 4.644 et cash used in investing af ttYitie5 9.250 111,8701 et cash (used in)Igenerated from financing af tii'ities 290.731 194.01? Yet (decrea5eVincrea5e in cash and cash equii'altnts 290.731 194,012 Cash and cash cquiTral¢nts at kginning of Tr'car 1.093.715 899,704 Cash and cash equivalents at end of Year lJ84,445 1,093,715 14 H.IRROII-' SCHOOL OF G1'￿1N..￿STICs {..1 Compxn). Limiied bTr' Guaranittl YE.4R TO 31ST ￿l.￿R(lI 2024 NOTES TO TIIE.ICCOIINTS Accounting policies Charity information HarTOW Schwl of G!'mnasiLiS is a pri￿ale limited compan!" b!" Guaraniee inLorw)ra*d in England and Wales. The registrred otTILe is 186 ChtistLhuich Avenue, I latrow", MiddleseK ILii iBD_ AccouDliNg coThi'tThtio 'I'he accounts have been prepared in accordance m.ith the chatit)"s ￿￿'erning documeni ihe CompaniesAct 2006 and "Accountin£ and Rcporting bi, ChaTltics' Siaicm¢ni of R¢¥omm¢nd¢d Practic¢ applicablc io chariiics PT¢paring thcir accounts in ac¢ordancc ￿1th lh¢ Financial Reporting SiandaTd applicable in Ihe UK and Republi¥ of Iieland IFRS 1021 (as ainended for aLcounling periods commencing froTt] l January 20191. The chaTity' Is a Public Benefit Intits" as defined b}" fRS 102. Thc accounts arc PT¢parcd in stcrling, which is ih¢ fvnaional ¢urr¢ncTr of th¢ chariry. Mon¢rary a mounts in th¢sc financial stat¢mcnts are rounded to ihe ne￿es[ £. The accounts have been prepared under ihe hisiorical cosi conieniion. The principal accouniing w)licies adopied are sei out belom. Going concern At the time of appTOI'ing the accounts. the Council of Managetnent have a ieasonable eX￿¢tatIOn that the chaTits. ha5 adequate resourcc5 io continue in operaiiona] eKisterhce for the foreseeable ￿luT¢_"[huS the Council of Management continue to adopt the goinu concern basis of accountjng in Prcparing thc a¢￿unts. IJ Ch4ritable funds ljnrestricted tunds are available for use at the dIscr￿l0￿ of the ttUStees in fi￿erance of their charitable objectives unless the ￿ndS have bccn dcsignaicd for othcr purposcs. Rcsirict¢d funds ar¢ subjcLrt to sp¢cific conditions b). donors as io ho￿ tho. mav b¢ uscd. Th¢ purposes and uscs of thc rcstrictcd funds are sei oul in the noies to ihe accounts. Incoming resources Tncom¢ is Tclogniscd ￿"h¢n th¢ charit%. is Icgall) ¢niiilcd to it aftcr on!. p¢rfornian¢c condiiions ha￿¢ b¢cn mct, th¢ amounts can bc measured reliably, and it is probable lh￿ incL)me iiill be receii"ed. Cash donations art recogni5ed on ieceipl. Other donatl0ll5 ate tecogn15ed once the chariti" ha5 been notified of the donation. unles5 performance conditions require deferral of the amount_ Income i&x re£overable in relaiion to donations received under Gift Aid is rccogniscd ai ihc tJm¢ of th¢ donation. Grant incomc is TCCO?niscd L)n r¢c¢ipt or oth¢rn'is¢ if th¢ charity has bccn noiificd of an IM￿ndIng distribution, thc amount is kno￿￿, and ieLeipi is e.xpected. Incoming TeSOUTces ate the amounts derived frorn the PlOV15Lon of charitable seTh'ice5, and Stated aftti applicable discounts. Resources expended Resources expended. including irrecoyerable VA"l-. are accounted for an accruals basis. Certain expenditute is allocated and apportioned bctw'ccn costs ot gcncrating funds and charithblc ¢xp¢ndiillr¢ bj. all￿aling costs on a fair basis. bascd on a spccifjc r¢v1¢￿ of thc expendiiure Incurred. Cosi ofgeneraiing funds Lomprises L0515 N'hiLh are associaied ii.iih raisin? funds fiom all the possible souices ofincoming resources. Support cost5 comprise costs foi the administration of the Ch￿ity". Gffl'eTnance costs COtnpri5e c05t5 IncutTed in connection Mith statutory requiremenis. Salar). costs haye been allocated on the basis of lime enea£ed in each area of activity. 15 H.IRROII-' SCHOOL OF G1'￿1N..￿STICs {..1 Compxn). Limiied bTr' Guaranittl YE.4R TO 31ST ￿l.￿R(lI 2024 NOTES TO TIIE.ICCOIINTS Tangible Fixed .4ssets Tangible fixed assets are siaied ai cosi less accumulaied depieLiaiion. The cost ofiiems less ihan £1,000 are wrriiien oifas an expense as Tequited tkpreciation LS proTr"Idtd ai Tales calculated to SlTile off the cost of each a55et oi'er its expected useful life, as folloms" Leasehold Properts. QT)'m Fquipm¥ni Fixlures and Fillings 25 lears 5 scars 3 Nea15 {except Compu￿ equipmeni." 3 years) The gain or loss arising on the disposal of an assrt is dcicrniincd as ih¢ diff¢rcncc b¢twccn thc sa]¢ prLK¢¢ds and the carrying valuc of thc asset, and is recognised in rtei incomellexpenditUTel for ihe lear. lrnp&irment of filed assets At eaLh reporting end date, Ihe chariiy reviems the can)'ing amounts of its tangible assets io ddennine wheiher ihere is any indicaiion that those a55tts have suffered an impaittnent Ios5. If an!" such indication exists. the recoi'etable arnount of the asset is estimated in OTder io determine the exteni of the impairmetrt loss lif an!- ). [.xpenditu￿ is allocated to expense heading5 eithei on a diteLX c05t b&si5. Ot apportioned accoTding to titne spent. The irrecoverable element of VA-I" is included m.ith the item of eipense to M"hich it relates. Cash and cash tquii'alellt5 Cash and cash ¢quii'al¢nis includ¢ cash in hand, d¢[K￿lts hcld ai call with banks. othcr short-tcrm liquid invcstmcnts M'ith original maturiiies olihree months OT less, and bank oi'eidTafts. Fin4nci41 instruments A finanLial Inslrument is a Loniraci thai gives rise io a financial assei olone eniil!. and a finanLial liability or equity insirumeni or another entitS'. The charity. ha5 elected to appl). the piovi5iOll5 of Section I l -B&sic financial Insttuments, and Section 12 '0ther Financial In5tiutnents Issues, of FRS 102 to all of its financial in5trllments. Financia] instrumenis are Tecognised in ihe charii!"'s balanLe sheei when the chariij becomes partv io the contraciual provisions ofthe instrument. Financial assets and liabilities aTe offset. Th'ith the net atnounts pie5ented in the financial statement5. when thete Is a legallN' enfoTceable right io sei off the reco£ni.%ed a￿oUnts and there is an intrniion to settle on a nei basis or to realise the asset and settle the liability simultancously. Basic financial 9ssets BasiL fLnanLial assets, w'hich include debiims and cash and bank balances. are iniliallN' measured ai tyansaciion price inLluding transaction costs and are subsequtntl!" catried ai atnortised cost Using the effectii'e inteTeSt tneihod uthle55 the aTtangetnent constitutes a flnancing iransaction. where the transaction is measured at the preseni ialue of the future reieipts discounted at a Jnatket rate of interest. Financial ass¢ts classified as rcc¢ii'abl¢ H'ithin onc icar arc noi amonis¢J. Basic financial liabilitic5 Basil tinancial 11obilJiics. including crcdiiors ar¢ initiall! rccogniscd ai transaaion pricc unlcss th¢ arrongcm¢nt constitut¢s a financing Iransaction, w"heTe ihe debi instrument is measured ai ihe PTeseni ialue of the fulure pa}ments disLounied at a maikd raie ofinteresi. Financial liabilitle5 classified a5 paTr'able M"ithin one yeat are not aTllOrti5ed. Debt ingtrumenis are subsequenil). Larried ￿ amortised ¢051: using the effective Inle￿51 rdie meihod. Trade cteditots are obligations to pa!. for ￿￿d5 01 seTvice5 that hai'e been acquired in the ordinaTh' COUT5e of operations from supplieTS. Amounts payable are classified as current liabilities if paiJneni is due ￿.]thin one l.eat or less If not. tho ate presei)ted as non-cuirent liabiljtics. Tradc cr¢ditors arc T¢LO?nis¢d initiall). • transa¥Yion pricc and subscqu¢nilJ' mcasurcd ai amortiscd cost using thc ¢ffcctiv¢ inierest meihod. DerecoEnilioD of financial liabilitie5 Financial liabiliiics arc d¥rccognis¢d M'hcn th¢ charin. s ¢onrrncwal obligaiions ￿ptre OT ar¢ dis¢hargcd or can¢cll¢d. 16 H.IRROII-' SCHOOL OF G1'￿1N..￿STICs {..1 Compxn). Limiied bTr' Guaranittl YE.4R TO 31ST ￿l.￿R(lI 2024 NOTES TO TIIE.ICCOIINTS i.io Lmployee benefits 'I'he cost of ani. unused holiday entitlement is recognised in the period in wllich the emploi'ee s services are rec£ived. T¢Tmination bcncfits a￿ rcco4nis¢d imm¢diai¢l) as an ci]Kns¢ iithcn th¢ chariry is dcmonstrabl) committ¢d to t¢miinat¢ th¢ emplovmeni of an emplojee OT 10 provide iemination benefils. i.ii Retirement benefits Paymcnts io dcfincd coniribuiion r¢ll￿m¢nt bcncfii Sch¢m￿ ar¢ charg¢d as an Cxpcnsc as thcy fall duc. i.ii unds 'I'he operating reseTh'es are unrestricied funds ￿"hich are a1￿lable for use ai the discretion of the.1.￿Ste¢S in furtherance of the general obj¢cts of th¢ charjty. and ￿h1￿h hai'c noi kcn d¢signaicd for othcr purposcs. 1.12 TaTgtion No provision lor taxation arises on the chariiable aciiyilies ofihe compan!.. 1.13 Goi"erDmeDt grants Cjovernment granis reieii'ed are recoeni5ed at the fair i"a]ue of the asset receii'ed or recei￿ab]e Hthen there is ieasoi)able assurance that the grant condiiions ￿11[ bc mci and ihc granLS ivill Ix" r¢c¢ii'cd. (iOi'¢mm¢ni grants r¢laiing 10 re￿¢nu¢ ¢xp¢ndiiurc ar¢ r¢cogniscd in intyomc on a s)stemaiic basis over ihe peri￿j5 in iihich ihe eniil) recognises ihe relaied costs for whiLh ihe ￿ani is iniended io compensa￿. Critical accounting estitDates and jlldgemeDts In the applicaiion of the Lhariiy s accouniing poliLies. Ihe CounLiI olNlanagemeni ale Tequired io make judgemenis, eslima￿S and &SSUmPtions about the caTry'ing atnount of as5els and liabilities that ate not readil!" appaTent frorn other 50uices. The estlTnates and associated assu￿ptiOnS are based on historical experience and other faciors that ate cojisidered to be relevant. Actual results Jnay differ from thcsc cstimatcs. The estimates and underlving &8sumpiions ate [evie￿ed ￿ an ongoing basis. Revisions io accouniing esiimaies are recognised in the period in M'hich the estittlate 15 Tevised M"heie the tevi5ion affects onl!" that period, 01 in the period of the re￿is1on and future period5 here the revision affects both illrreni and thture periods. Criti¢al judgements T&Dgible fixed assets Tangible fixed assets are reLorded ai cosi less accumulaied depieciaiion and impalm￿nt losses. Judgemeni is iequired io deiemiine hethtT the￿ ale indicato[5 of impaiTtnent of the chantable cotnpatj)" 5 piopettt". plant and equlpment. factors tak.en into COll5idetation in reaching such a deLiSion include the econornic viabiliry" and eyectrd futllte financial perforinance of the assets. Key sources of estim4tion uneertaintv TADgible fixed 855ets Tangibl¢ fix¢d ass¥ts arc d¢prccLat¢d oi'¢T ih¢iT ￿¢￿[ liics taK'in£ in￿ account rcsidllal ￿al￿¢s. ￿h¢T¢ appropriaic Th¢ actual livcs of th¢ assets and Tesidual values are assessed annuall! and ma!" i"an" depending t)n a number of faciots. In ie-assessing assei lii'es, factors such 35 technological Innovation. product life a.cles and tnaintenance pro￿[￿￿¢5 ate tak'en into account Residual i'alue 3sse5sinents consider issues such as future ￿￿k-£t conditions. the re￿￿ining life of the asset and projected disposal values. Imp4irment of debtor balan¢e$ The charitable compani" makes an esiitnate of the recoi'etable i.alue of tiade and other debtors Whet] as5es5ing itnpaitment tnanagetnent considers factors including the agein profile of amount due and hiS￿rical experiejice. 17 HARROM, SC.HOOI. OF GI'NINASTICS IA Comp4nTr' l.imited b!" Guar4Dtee) E.4R 'I'O 31S'I' ￿lARCH 2024 PIO-I'LS-I-O I-HL.4CCOI"IY'I'S Itontinued) Expenditure Total l'ear ended 31103123 Staff Costs Deprttiatioll Othtr c.osts Total l-ear ended 31103124 Raisingfvnds Fundraising Trading- Costs of G￿d9 Sold Charitable.IclTh'ilies 42,109 Costs of GvMn￿tic Coaching Service running costs Premises COSIS 443.471 39,980 15.278 22,1.59 505.610 438,413 66,5iO IOi.5lj 9.)69 62.671 Support costs GoN'crnancc Costs 8i,4iO 114,9i8 4.760 4.700 4,300 012,756 i36.470 96.2.51 687.979 Tota] E.xpenditl￿t )i6_470 140.674 7i2.402 654.865 Otber Costs (iovemance Costs include". Independent Examiner'5 Remuneraiion for accounts preparation and exatnination 4.760 4,iOO Employees 2024 2023 EmplovtlleDt c.ost5 Wage5 & Salaries Social S¥curiTh." Costs 500,iil 26.8)9 436.852 21,960 6,807 J65.684 Oiher pension costs 9.301 5J6.470 The average number ol-persons emploied bi the ChaTitable CompanTr' during the ￿'tar wa5" Nutnber Number Trustees Coachcs (mainly part-iimcl Administration 34 34 41 No employee eamed emoluments of more than £60,0(KJ during the Near and prior !."ear. No Teimbursement of expet]5es w'ere tnade to the Ttustees1202i - £Nill. No remuneration was made w'l"rustees during ihe l'ear. nor in ihe prior lear. 18 HARROW SCHOOL OF GYMNASTICS {A Company Limited by Guarantee) YEAR TO 31ST MARCH 2024 INOTES TO THE ACCOUNTS (continued) Tangible Fixed Assets Leasehold Land & Buildings Fixtures, Fittings & Other Equipment Gymnasium Equipment Total 31103ll4 As reststed Cost As at l April 2023 Additions 155.444 294.910 5,994 {87,979) ?12.92 j 121,894 1,770 (15,535) 108,128 572,248 7,764 (103,514} 476,497 Disposals As at 31 hlarch 2024 155444 Depreeiation As at l April 2023 Charged in year Disposals As at 31 March 2024 155,443 18J.276 39,980 {87.9621 135.294 62,200 15,278 (15,2071 62,271 400,919 55,258 (103,169} 353,008 155,443 Net Book Value As at 31 March 2023 111,6JJ 77.632 171,329 123,489 As at 31 March 2024 45,858 Debtors 2024 2023 All due within one year Trade debtors 44,821 4,242 49,063 87,719 5,542 93,261 Prepayments Creditors 2024 2023 All due within one year Fees received in advance 92,842 12,404 7,8)4 82,782 14,900 5,912 10."1,594 Trade and Other Creditors Taxes & Social Security C05t 19 RIARROII. SCIIOOL OTr GI.￿1￿.￿sT[Cs￿.4 Compan)- Limited bi. Guarantetl YL.4K'I-0 31S'I P¥l.4KC-112024 O-I'ES'IO-I'IIE ACCOI"YTS Itontinuedl Tr'unds of Trunds Bglattte *t Balajhte at 011114123 Resources Tr*nsftrs 31103124 Unrestrjcted 1.260.992 189_983 1.4.iO.97.i 1,4iO,975 Total Funds 1.260.992 189_983 bl.4Datysis of ￿et Asstts Tangible C.urre•l Current Inter Tr'und -4ssets Liabilities Bal%Jhte$ Total 31103124 Unie5tricted- Ini'esied In Fixed A55ets 123.489 123.489 Unie5tricted- Free reserve5 1.440.i86 (113.1001 1.327.486 Total Funds 1?3.489 -440.i86 1113.1001 1.4iO.97.i Fittgtttigl Comthitments Ai 31 Maich 2024, the charltable company had annual commitments under a non-cancellable operating lease of its land as follows 2024 2023 90.400 90,4(K) io Retirement benefit schemes The charity operates a defined contribution ￿￿￿10n scheme for all qualify"Ing emploitts. The assets of the scheme are held separaiely from those ot the chariry In an indepcndcntly admini￿Cred fund. The charge to the Siatemcnt of Financjal Aaii'iiies in res￿et of dcfincd eontribuiion schemes was £9.30] (2023 - £6.S071. li CAsh %eDerated from operations 2024 2023 SUrplu￿(dct1eI1> for thc year 189.983 AdJ1¢51Fpienlsfor.' In￿Strne￿ts incotn¢ 117,014 14,6441 tkpieciation of tangible fixed a55et5 58,699 ,Voi'ewenls in Ivorking C¢W11¢71.. DecreJsellincr¢a5¢1 In stock DecreJsellincr¢a5¢1 In irad¢ and othtr debtor5 ID¢cr¢a5¢VincreJse in irad¢ and othtr ¢reditor5 1450 44.198 9,506 316 19,7001 13,030 Cash generated fromllabsorbed b).) operations 281.481 205 882 12 Relmttd pgrtv trxttsattlOllS There ivere no related transaciions In the ?var. 20