Company No. 2585823 (England and Wales) Registered Charity No. 1002258 HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) REPORT OF THE DIREcfoRS AND FINANCIAL STATEMENTS YEAR TO 31 MARCH 2025
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 CONTENTS PAGE COMPANY INFORMATION DIRECTORS, REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL AcriviTIES io BALANCE SHEET li STATEMENT OF CASH FLOWS 12 NOTES TO THE AccouNTS 13-18
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 COMPANY INFORMATION Registered Cornpan?. N40 Registered Charih. No l(M)2258 Direclor5 linrludin% tho5¢ w'ho 5er%'ed for 8ni' p8rt of the F"inanri41 Itarl l.'hair isha PUjAr Rosit Il'iilixms TreAsurer Wcldon Ramircz IrLSiJO cd l Mav ?0?41 Nisha Pujara (aln(cd l May ?0?41 Other Rosie Williams Sarnantha Wallace Ka[sn Sha%% Madeleine Malli1v (apinted 17 SepterniKT ?0•41 Principal Add55 and Registered Office 186 ChTiStehurch .4I'eDue HaTrow lidd1 HA3 iBD Kev Personnel and Proftssional.4th'isers General Manager Felicitr Copp HeAlth, Safety & Welfare Offvers Rosie Il'illiams Head Coach Olis'ia Curran
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 Battkers 80 Sh¢nkTr Ro8 Boreham1400d Hertfordshire Il'l IDZ I"llited Tn BADk l Ropemaker Street tJbndoD EC21' 9.411, Hathp5hireTrust BxttlL PO Boi 743 Ddon EC?P 2QR Human Resourtts SaftHR J8E Charlt5 Street BHth B.41 IILX Stephen Ileredith FC4 Dch. .41liotts LLP Ch8rterryl,*rrovntsnts lanfield IIov5¢ I S)ulhamplou Street II'C2R OLR
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 DIRECTORS. REPORT The Dirertors, who are also charity trustees under charity law. present their report and the financial statements for the yearended 31 March 2025. I 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 3150 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 meetin& One-third of the Directors are required to retire each year 2nd may offer themselves for releCtiO 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 ofthe gym or parents of junior members who take partin either General Gymnastics or Competitive Gymnastics. Non-members may also be 3PPOlllted as Associate Dirertors. but they would not have any voting rights. All directors are required to sign the Dirertors, Code of Condurt and a Declaration of Interests. The representative on the Board of Directors for Health, Safety and Welfare is currently Rosie William& Harrow School of Gymnastics is affiliated with British Gymnastics. the governing body for the sport of gymnastics in the United Kingdorn. 2 OBJECTIVES AND AlTIEs The objective set out in the Memorandum olAssociation is the provision of gymnastic coaching and facilities. The mission of Harrow School of Gymnastics is to provide "Gymnastics of the highest standard for all" within its geographic area ofoperations. i.e.. the ndOn Borough of Harrow and surrounding areas. Harrow School of Gymnastics provide5 gymnastics coaching in two broad categories: Recreational gymnastics (also known as General Gymnastics or Gymnastics forAII).' typically. in classes of one hour per week for all ages from toddlers to adults. Competitive gymnastics.. two separate squads (Men's Artistic and Women's Artistic) for age 5 up to early 20's, training for up to 20 hours per week 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 meetthe increasing demand.
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 Year to Yearto Year to Yearto Year to Year to March 2024 Yearto March 2025 March 2019 March 2020 March 2021 March 2022 March 2023 Recreational.. Play gym lage under 5 years) Pre-school (ages 3- 5 years) Gymnastics for All lages 5 151 21 52 68 68 170 157 127 134 176 231 1.031 I,ioi 721 I.IX12 1,139 1,154 1.205 Adult gym 35 32 24 40 42 42 Competitive: Men's Artistic Women's Art15tic 31 42 23 18 29 21 69 21 42 23 47 19 36 Total 1.359 1,405 813 1,317 1.436 1.510 1,601 In addition to regular gymnastics training and classes. there were: 1. 119 Parties of up to 40 children, [126 in 2023124) 2. 48 Train and Play sessions (48 in 2023124) In addition to the above... 3 British Gymnastics helper courses were held in the gym Womens, artistic regional training session was held at the gym 3 coaches completed their level 3 modules I coach qualified to Level 2 I coach qualified to Level I 3.1 HIGHLIGHTS IN GYMNAsfIcs FOR ALL (FORMERLY KNOWN AS GENERAL GYMNAsrics) 2024/25 321 gyrnnasts competed at the Club Championships (281 in 202312024). 260 gymnasts perfornied at the Winterwonderland showcase (176 in 2023124) Gymnasts of the Year were Raphael Affiim and Masha Karunaratne Club coach of the yearwas Robert Shaw Pre-school coach ofthe year was Claudia Ciocalau
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 4 PUBLIC BENEFIT The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. 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 2nd discounted gymnastic sessions at 500h to Special Needs Schools in the Hillingdon/Brent area. During the year. There were 10 gymnastic sessions provided free ofcharge to Special Needs Schools. There were 35 sessions provided ata 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 £2,000 in Hardship remissions from both general gymnasts and competitive gymnasts. 5 FINANCIAL REWEW The financial results for the yearto 31 March 2025 areset out on pages 10 to 18. 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 equipmenL Unrestricted income was £917,292 compared with £922.385 in 2023/24. while related expenditure was £762,261 compared with £732,402 in 2023124. There was an excess of income over expenditure of£155,031 compared with £189,983 in 2023124. which has been added to unrestrirted reserve& There is no restricted reserve balance at the end of the year. The Directors carry out an annual review of Harrow School of Gymnastics, free reserves policy in the light of known risks and future plans. Free reserves are those funds which are not committed to specific projects or invested in fixed assets. The Dirertors have established a poliry that Harrow School of Gymnastics should have a minimum free reserve ofsix months budgeted expenditure. which is approxirnately£250.000. This will enable Harrow School of Gymnastics to meet its objectives if it faces a loss of incorne or unexperted increases in unfunded costs. The total free reserves at 31.M3rch 2025 were £l.539.009. which is in excess of the target 6 ACHIEVEMENTS OF THE BOARD OF DIRECTORS IN 2024/25 Public benefit continues to improve and increase in provisioTh HSOG now host all Harrow gymnastics school competitions in house, and provide all ofthe officials at the competition& The directors continue to review of the governance of the club and implement improvements. In an effort to improve club communication with all stakeholders. parents and gymnasts, the club website has undergone a refresh and is now live.
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 7 PRIORITIES FOR 2025/26 The overriding priority ofthe Directors continues to be to ensure the smooth running ofthe 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 are& Harrow School of Gymnastics will refresh the website to ensure effective communication with parents. gymnasts, the wider community and other stakeholders, which reflerts the current provision within the club. 8 STATEMENT OF DIRECTORS, RESPONSIBILITIES 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 dirertors to prepare financial statements for each financial year. which give a true and fair view ofthe 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 pn]dent- 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 dirertors are responsible for maintaining proper accounting records which disclose, with reasonable accuracy at any time, the financial position ol the charitable company, and enable them to ensure that the rinancial statements comply with the Companies Art 2006. The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps lor the prevention and detertion of fraud and other irregularitie& This report was approved by the Directors at their meeting and signed on their behalf by 0>1 Rosie Williams 19 Nov 2025 Date:
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HARROW SCHOOL OF GYMNASTICS I reportto the charity trustees on my examination of the accounts of Harrow School oFGymnastics for the year ended 3 1 March 2025. which comprise the Statement of Financial Activities including Income and Expenditure, the Balance Sheet, Statement of Cash flows 2nd 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 Companies Art 2006 ('the 2006 acv). 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 ofcharities Art 2011 [the'2011 Acv). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 ACL Independent examinerfs report Since the compan5 gross income exceeded £250,000 yourexaminermustbe a member ofa bodylisted in section 145 of the 2011 ACL I confirm that l arn qualified to undertake the examination because l am a member of the Institute of Chartered Accountants England and Wales which is one ofthe listed bodies. I have completed my exarnination. I confinn 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 notcomply with theaccounting requirements ofsection 396 olthe 2006Actother than any requirement that the accounts give a'true and fair. view which is not a matter considered as part ofan independent exarnination- or 4) theaccounts havenotbeenprepared in accordancewith the methodsand principlesofthestatement of Recommended practice for accounting and reporting by charities lapplicable 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 ofthe accounts to be reache Stephen Meredith (Nov 27, 2025, 3".10pml Stephen Meredith FCA, DChA Alliotts LLP Manfield House. I Southarnpton Street. London, WC2R OLR 27 Nov 2025 Date..
HARROW SCHOOL OF GYMNASTICS (A Company Limited by Guarantee) YEAR TO 31ST MARCH 2025 Statement of Financial Activities (Including Income and Expenditure .4ccount) Total Funds Year ended 31103124 (Unrestricted) Unrestricted Funds Total Funds Year ended 31103125 Notes Income from: Donations 24 24 19 Charitable activities 825,775 825,775 852,016 Other incoming resources 49.710 49,710 53,336 Investments 41.783 41,783 17.014 Total Ineome 917,292 917,292 922,385 Expenditure on: Raising funds Chariiable Activities 38,390 38J90 44,423 723,871 723,871 687,979 Total expenditure 76? ?61 762,261 732,402 Net Income before Transfers 155,031 155,031 189,983 Transfer Between Funds Net movement in Funds/Net income for the year 155,031 1 $5,031 189,983 Reconciliation of Fund5 Total funds brought forward at l April 2024 1,450,975 ,450,975 1,260,992 Total fund5 carried forward at 31 March 2025 1,606.006 1,606,006 1,450,975 The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. There are no recognised gain5 and losses other than those passing through the Statement of Financial Activities. There are no funds other than the unrestricted funds in the current or compardtive year. io
HARROW SCHOOL OF GYMNASTICS (A Company Limiled by Guarantee) AS AT 31 MARCH 2025 Balance Sheet Notes 2025 2024 Fixed Assets Tangible Assets 66.997 123,489 Current Assets Stock 13.573 6,730 49,063 1,384.793 1,440,586 Debtors 13,198 1.600,565 1.627.J36 Cash at bank & in hand Current Liabilities Creditors: Amounts falling due within one year 88,327 113,100 Net Current Assels 1.539,009 1,327,486 Total Net Assets 1,606.006 1,450,975 Funds Unrestricted - Invested in Fixed Assets 66,997 1,539.009 1.606.006 123.489 Unrestricted - Free Reserves 1,327,486 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 31 March 2025. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts. The Directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with section 386 of the Act and for prepaTin(p 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 financial vear in accordance M'ith the requirements of section5 394 and 395 and which othenvise comply with the requirements of the Companies Act 2006 relaiing to accounts, so far as applicable to the company. The accounts on pages l O to 18 were approved by the Trustees on 27 Nov 2025 and signed on their behalf by- Rosie William8 (Nov 27, 2025. 2.'34pml Rosie Williams Company number- 02585823 li
H.ARROW SCHOOL OF GI'IINASTICS I..1 C•mp*nv Limiied b). Guar4nieel I E.4R'I-0 31S-I' l.&R(.-H 2025 Statement of Cashflows 21125 2024 Notts Cash flows frorn operating actiTr'itits Cash gtneiated fTonVlabsoibtd by) opeiations 175.560 281,481 et Cash inflowlloutflowl from operating actii'ities 175,560 281,481 Investing actiiities Paymcnts to acquir¢ fix¢d asscts {1.5701 {7.7641 Inicrcst Tcccivcd 17,014 el cash used IN ini'c5tiNg acti)'itits 40.213 9,250 et Cash (used inllgenerated from finanfing actii'ities 21 i.773 290.7.31 el Idecrease)lincreast ID cash alld cash equi)'aleDt5 215.773 290,7il Cash and tyash cquivalcnis at bcginning of )¢ar 1.384,793 ,093.715 Cash and cash equiYaleDt5 at tlld olvear 1,61MIJ65 lJ84,793
HARROW SCHOOL OF c.}"1N.STICs (A CompAD) Limited bi. Gu&raDttt) b:.4R-I-0 31 S'I. l.Rc.H 2025 OTES TO THE ACCOLINTS AecountinE policies ChArits- informAtioD Harro. School of (i)'mnasiics is a prii'atc limiicd ¢ompon!" b). Guarantcc incorpordtcd in F.ngland and Walcs. '1l)c rcgist¢rcd otricc is 186 ChristchurLh Av¢nu¢. HarroH". Middlcscx. HA3 511D. Accounting £onv¢ntion 'I'hc aLcounis hal'c bccn prcpar¢d in accordancc ii'ith th¢ charit)'s goi'crning documcnL thc Compani¢sAct 2006 and"Accounting and R¢porting bj Charlti. Stsi¢mcni of Rccommcnd¢d Pro¢1i¥C appli¢abl¢ io chariiics prcparing thcir accounts in accordanc¢ '1[h th¢ 'inancial Rcportin8 Sundard applicabl¢ in thc UK ond R¢publi¢ of Ir¢land IFRS 1021-" {os amcndcd for accounting p¢riS CL)mmcncing from l Januar). 2019). 'Ibc charity. is a Public Ilcncfii F_niiTh" as d¢fin¢d b!. FRS 102. -lthc accounis arc prcparcd in stcrlino, M'hich is thc fvnLiion81 curr¢nc)' of th¢ chariw. Mon¢tary a mounts in thcsc financial staicmcnts arc roundcd IL) th¢ n¢arcsi £. The accounts have been prepared under the histotical cost coniElltion. The principal accounting policies adopted are Set out belom,. GoiDg coDcern Ai the lime of approTring the aciounts. the Council of Nlanagement hai'e a reasonable expectaiion that the cliatity lia% adequate re.%ources to continue in operational existence for the foreseeable fullt_ Thus the Council of Managemeni iojitijiue to adopt the going coniern basis of accounting in preparing the aiiounts. Charitable fuThds UnrestnLted fun(ts are available for use ai ihe discreiion of ihe trUSe$ in furtherance ofihetr charithble objeLiives unless the lunds have been designated for other purposes. R¢strict¢d funds arc subjcct to spccifjc conditions bj. donors as to hoiv th¢v ma) bc us¢d. Thc purposcs and uscs of th¢ rcqtrictcd funds arc sct out in thc not¢s io Ihc accounts. Incorning re50urce5 Incomc is r¢cognis¢d iN'hcn ihc Lhariti. is lcgalli ¢niitl¢d to il aftcr an!. p¢rfornian¢c condiiions havc bccn mct. th¢ amounts Can bc mcasurcd T¢liabls', and it is probabl¢ that inLomc i%"ill bc r¢c¢iicd. Cash dotJation5 art reco8lL15ed on receipt Other donation5 ate recogni5ed once the charity has be£n notified of the donation, unle55 peifoTtnance cot]ditions require defettal of the amount. Incorne recoierable in relation to donations received under Gift Aid is iecoon15ed at the time of the donation. Grant incom¢ is rcco8nis¢d on r¢ccipi or othcni'isc if thc charity has bccn n]fI¢d of an impcnding distribution. thc amount is knowi, and rcccipt is cxp¢ct¢d. Incoming resources are ihe amounis deried fiom the prO.7$10n ofcharitable smices: and Sthd after applicable discliunts. Resources expended R¢souTLCS cxp¢ndcd. including irrcLON'crablc VAI-. arc aLcounicd for an o¢¢ruals basis C¢rtain Cxpcnditurc is allat¢d and apportioncd bcM'¢cn costs of gcncrating tun(ts and chariiablc cxp¢ndiwr¢ b}. allocaiing costs on a fatr basis. b&scd on a sp¢cific rcvi¢M' of th¢ cxpcnditurc incurrcd Cost of generating ndS comprises costs iithich are associated iiith raising ndS from all the possible sources of incoming resources. Support co%ts comprise costs for the administration of the charity_ GoN"ernance costs comprise costs incurred in connection with statutory requiiemenis. Salary costs have been allocated on the basis of time engaged in each area of actiwity.. 13
HARROW SCHOOL OF c.}"1N.STICs (A CompAD) Limited bi. Gu&raDttt) b:.4R-I-0 31 S'I. l.Rc.H 2025 OTES TO THE ACCOLINTS T#nEible Fixed.Assets Tangible Iixed assets are staled ai cosi less aLLumulated depreciation. The cosi of iiems less ihan £1,000 are iriuen off as an expense as required. Depreciation is proN'ided at raies calculad io wriie off the cost ofeach assei over its expeeied useful life, as follou.s'. Leasehold Property Gvin Equipment Fiytllres and Fittings 2) years 6Y3 years {exiept cojnputer equipinent." 3 yearsl -lthc gain or loss arising on th¢ disposal of an ossci is d¢i¢rniincd as thc diffcr¢nc¢ bcni'ccn thc salc pro¢¢cds and thc carrying valuc of Ihc assct. and is rccogniscd in n¢i inLom¢ll¢xwmdiwrc) for th¢ s'car. Imp#irment orriitd assets Ai ¢a¥h rcp(Trning Cnd da. Ihc Chariti. ru'iciis the carry'ing amounts of its tangtbl¢ &sscts to d¢t¢mtnc iihcth¢r th¢r¢ is an} indication that thos¢ ass¢ts hav¢ SUff¢d an impairmcni loss. If an). such indi¢ation cxists. th¢ r¢¢ov¢rabl¢ amouni of thc ass¢t is cqtimatcd in OTdcT to dctcmiinc thc cxtcnt of thc impaimcni loss lif anv ). F.xpcnditurc is allocaicd to cxpcnsc hcadings cithcr on a dircbi ¢osi basis. or apportion¢d a¢Lording to tim¢ sp¢nt. Thc irrecoNerable element t)( VAT is included ii.ith the item of eMnSe io ithich it relaies. Cash and e#$h equiTralents Cash and cash equivalents inLlude cash in hand. detxisits held at Lall with banks. other ShOrt-mI liquid invesiments 1th original maiuriiies ol-three monihs or less, and bank oveidrafts. Financial instruments A financial instrutnent 15 a contract that rise to a financial asset of one entih. and a f]nancial liability 01 equity instrutnent of another entitv". The charity has elected to apply the provisions of Section I l -Basic Financial l]kstruments- and Section 12 '0ther Financial Insttu]nents Issue5, of FRS 102 to all of its financial ii]5ttuments. Financial in5tTuments att recogni5ed in the charih"'s balance Sheet the chatit%" 1COMeS party to the contractual provisions of the instruTllellt. Financial assets and liabilitie5 are offset. with the net atnounts piesenled in the financial statements, when there 15 a le8ally enfoiceable 118ht to Set off the recogtLi5ed atnounts and there is an intention to settle on a net basis 01 to realise the asset and settle the liability". 51]nultaneou51)'. Basic finaDcial a55ets Basi¢ financial $¢ts. hiCh inLludc d¢biors and lash and bank balan¥CS. ar¢ initiall!. mcasur¢d ai transaction pric¢ including transaction costs and arc subs¥qucntlN' Larri¢d ai amoniscd ¥osi usino th¢ ¢ff¢¥iii'¢ intcrcsi m¢thod unl¢ss ihc arrangcmcni constituics a financing transaction, h¢r¢ th¢ tyansaciion is m¢asurcd at th¢ pr¢s¢ni i'aluc of thc futur¢ r¢ccipts discountcd at a mark¢t ratc of int¢rcst. Financial asscts classificd as rcccivabl¢ within onc i'car arc noi amoniscd Basic finaDcial liabilitie5 Basic finaniial liabiliii¢s, includino crcditors arc iniiiall!" rccogniscd ai tyansaciion pri¢c w)Icss th¢ arrangcmcni constitutcs a financing transaction, h¢r¢ th¢ dcbi instrumcni is mcasurcd ai th¢ prcscni Nalu¢ of th¢ fim]rc pa)Thcnts discountcd at a mark¢t rat¢ of intcrcst. 'inancial liabiliiics tylassificd as paTrabl¢ within onc I'car ar¢ noi omortis¢d_ Dcbt instrumcnis arc subscqucntlv carricd ai amortiscd ¢OSL usin? th¢ ¢ff¢aiv¢ int¢r ratc m¢thod. Trade creditors are obligations io paTr loi goods or sen.ices ihai have been acquired in the ordinarn CLiurse ol-operaiions Ir(nn suppliers. Amoun(s payable are classilied as curreni liabilities ifpa}Inent is due iiithin one N"eai or less. If n, Ihey are preSend as notrLurreni Iiabililies. Trade ¥reditors are recognised iniliall}" at transaction Priie and 5ub5equenil)" measured ai amortised cosi ubing ihe effeciive interesi method. 14
HARROW SCHOOL OF c.}"1N.STICs (A CompAD) Limited bi. Gu&raDttt) b:.4R-I-0 31 S'I. l.Rc.H 2025 OTES TO THE ACCOLINTS DereeogDition of fiDAntial liAbilities Financial liabiliiies are dereLognised Mhen the charii). s coniracwal obligaiions eN)ire or are discharged or cancelled. i.io .mployee benefits -lthc cost of an}. unuscd holida). cntiilcmcni is rccogniscd in th¢ t0d in ii.hich thc ¢mplo!¢c s s¢rvi¢cs arc r¢ccivcd. Teminaiion benefits are recognised immediaieli. as an expense ivhen ihe chariTh' is demonstrablN' coMmitd to lerni1na the emploiimeni oran emplovee or io prol'ide iemiinaiiort bertelLIS. i.ii Retirement benefits Paymcnts io dctin¢d coniribution r¢tircm¢ni bcncfit s¢hcm¢s arc chargcd as on ¢xttnsc as fall duc i.ii FllDds The operating reseryes are unrestricted funds iithi£h are aN"ailable for use at the discrdion of the Truste£s in fierance of the general objeiis of the charity and Mthiih hai'e not been designated for other purposes. 1.12 TaxAtioD No prolS1On for iaxation ariscs on thc chariiablc a¢tii'iii¢s of thc company. 1.13 Governrnent grant5 Govcmm¢nt grants rcccivcd arc r¢cognis¢d ai ihc fair i'aluc ofthc assci r¢cciv¢d or r¢1vabl¢ "h¢n th¢r¢ is rcasDnablc asquranL¢ that th¢ grani Londiii(Trns ii'ill b¢ mci and th¢ grans ii'ill b¢ rc¥cii'¢d. Goi'cmm¢ni grants r¢laiing to r¢i'¢nuc ¢%p¢nditurc arc rccogniqcd in incom¢ on a systcmatic basis ovcr thc pcriods in i%'hich th¢ cniity" rcbogniscs th¢ rcloicd costs for h]Ch ih¢ grant is int¢nd¢d to comp¢nsatc. Critical accouThtiThg estimates and judgerneDts In the appliiation of the iharit). 5 aiiouniing policie& the Council of Managejnent are required to make judgements. estimates and aSsup1ion about the iarri'ing amount of assets and liabiliiies thai are not readil!" apparent from other sourc£s. The estimates ld asS[lated asSuPtionS are bed on historical experience and other factors that are considered to be relevant. Actual results Inay differ from these estimates. -lthc cstimatcs and und¢rlying assumptions arc rcvi¢Hcd on an ongoing basis. ReI510nS io accounting csiimatcs arc r¢cogniscd in thc pcriod in M'hiLh thc cstimatc is r¢1 iscd ii"h¢rc thc rcvisi¢)n affccts onl!. thai pcriThJ, or in pcriod of th¢ rcvision and futurc pcriods iihcrc thc rcNision aff£Lts both ¥urr¢ni and fuwrc pcriods. Critical judgements -langible fixed wels Tangible fjxed assets are recorded ai cost less accumulated depreciation and impairment losses Judgement is required to determine .hether there ate indicators of impairmeni of the ihariiable coinpan). s propenN'. plant and equtpmejii. Factors tak-en into consideration in reaching such a decision inilude the economic viabilit%" and eNJected future fancial performaTrc£ of the assets. Key sources of estimation uneertinty Tangible fiwed assets Tangible fixed assets are depciated oN'er iheii useful I1"e5 thking Lnw account residual tralues, Mhere appropriate. The actual lives ofthe asseis and residual Tralues are assessed annualll" and mai i'an" depending on a number of fa¥tots. In re-assessing assei lies, faciors such as teLhnological innovaiit)n. produci lite ii¥les and mainienance programmes are (aken inio aLcouni. Residual Nalue assesbments Clinsider issues suLh as future markei conditions. Ihe remainirtg life ofihe assei and projected disposal i'alues. Impairment of debtor bAlaDees The charitable cotnpan). ttlakes an eStinle of the recoverable i.alue of trade and other debtors. When assessS unpaiTtnent tnana8etnent considers factor5 including the agein8 profile of amount due and hisiorical ewience. 15
HARROW SCHOOL OF GTr'ItP*ASTICS {,( Compan!. Limited b!. Guarantee) I'EAR TO 31ST NI.4RCH 2025 O'I'ES-I-O -I'HL ACCOII)'I'S (continued) Expenditure Total l'ear ended 31103124 Staff Costs Depreciation Other Costs Total l-ear ended 3110312) Raisingfunds FundTaising Trading- Costs of Good5 Sold Charilable.4cÉii'iÉie5 44,423 Costs of Grnntle Coaching Scrvicc running costs Pr¢mis¢s costs 4i8.9i I 42.499 17.787 i19.217 505.610 1.817 li.56) 42,210 69.592 62,671 Suppon Lt5 Governance Costs 89,882 40.598 lJO.479 114.9J8 4.582 4..582 4.760 i60.6iO 58.064 IOi.176 71 j.871 687.979 "I'otal Expenditure 560.6JO 58.0 14J.567 762.261 7J2.402 Other Costs tiov¢Tnanc¢ Costs includ¢'. Ind¢p¢nd¢nt F..xamin¢r s Rcmun¢ration tor accounts pr¢paration and uarnination 4.58? 4.760 Employees 2024 Ernplo)'ment Costs Wages & Salaries Social Security Costs Othcr pcnsion costs 521.487 500.J31 28,596 26.839 10.547 9..101 i60.6iO i36.470 Thc avcragc numbcr of rsOnS cmplol'cd bi. thc Charitablc Compan). during thL }'car was.. Number Number Trustees Coaches Imainl). part-time) Administration 33 34 42 No emplovee earned emoluments olmore Ihan £60.000 during ihe I'edr and prior l'ear. No reimbursemeni of expenses w'ere made io the"I'iusiees12024- £Nill. No rcmuncration .?5 madc io Trustccs during thL )"car. nor in thc prior 16
HARROW SCHOOL OF GYMNASTICS (A Company Limiled by Guarantee) YEAR TO 31ST MARCH 2025 IYOTES TO THE ACCOUNTS (eontinued) Tangible Fixed Assets Leasehold Land & Buildings Fixlures, Fittings & Other Equipment Gvmnasium Equipment Total 31103125 Cost As at l April 2024 Additions 155,444 212,925 1,571 108,128 476,497 1,571 Disposals As at 31 March 2025 155,444 214,496 108,128 478,068 Depreciation As at l April 2024 Charged in year Disposals As at 31 March 2025 155.443 135,294 42.498 62,271 15,565 353,008 58,063 155,443 177,792 77,836 411,071 Net Book Value As at 31 March 2024 77,631 45,857 30,292 12J,489 66,997 As at 31 March 2025 Debtors 2025 2024 All due within one year Trade debtors 7,367 5,831 13.198 44,821 4,242 49,063 Prepayments Creditors 2025 2024 All due within one year Fees received in advance 73,818 7,622 6,887 88,327 92,842 12,404 7,854 IlJ,100 Trade and Other Creditors Taxes & Social Security Cost 17
HARROW SCHOOL OF GTr'ItP*ASTICS {,( Compan!. Limited b!. Guarantee) I'EAR TO 31ST NI.4RCH 2025 O'I'ES-I-O -I'HL ACCOII)'I'S (continued) Fund5 a) .4nalysis of Movemtnl of Fund5 Balanee at 01104r24 Expenditur Balanee at 31103125 Income Transfers Unrestricted Funds -450.975 917.29? {76??61) {76? ?611 1.606.006 Total Funds 1.450.975 917.292 1.606.006 b) Analysis of Net Assets Tangible Assets Curren¢ Current Assets I.iabilities Totsl 31m3124 Unrestricted- Invested in Filed Asseis 66.997 66,997 Unrestricted- Free reseNes -627.)J6 188.J271 1,539,009 "I'otal Funds 66.997 1.6?7.J J6 {88.J271 1.606.006 Financial Commitments At 31 March 2025. the charitable companl. had annual commitsnenis under a non-cancellable operating lease of its land as follows= 2024 67.800 90.400 io Retirement benefit sehemes ThL charity. OratlS a dLfinLd contribution Ftnsion schcmc for all qualify'ing LJnpIoLyS. Thc asscts of thc schcmc arc hcld scparatcls. from thosc of ihc charity" in an indcFtndcnil!" administL-rcd fund. "I'he charge io the Statemenl ofFinancial .4ciii"ilies in respeci of defined contribulion schemes i%'as £10.54712024.. £9.JOI I. li Cash generated from operations 2024 2023 Surplus for ihe Year -4djuslmenlsfor.' InNestment income Dcprcciation of tangiblc fixcd assets 155.031 189.983 (41.78Jl i8.063 117.014) i5.258 Ivol'ements in w'orkig capilal.- Decreasejlincieasel in btock Dccrcasc/{incrLascl in tradL and othcr dcbtors (Decreasellincrease in trade and oiher creditors (6.843) i5.86) 124,77J) 1450} 44.198 9,506 Cash generated froml(absorbed b).) operations 17i.560 281.481 12 Related party. transaction5 Th¢r¢ '¢re no r¢lat¢d parti. transactions in th¢ !"¢ar. {2024- Non¢) 18