ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
REPORT OF THE MANAGEMENT COMMITTEE
Registered Office: 1 Farm Park Road, Abbotts Ann, Andover, Hants SP11 7AU
The Management Committee have pleasure in presenting their Report of the Club for the year to 31st August 2024.
The Management Committee
The governing body of the company is the Management Committee together with its company directors and charity trustees. The Management and structure of the charity have been reviewed and re-organised to enhance and strengthen the functioning of the Management Committee.
Principal Activity
The principal activity of the club is the promotion of gymnastics. The company provides gymnastics coaching facilities in association with Andover Gym Club Limited. - a non profit making club that trains gymnasts and is based at the Salto Centre.
The Charity operates a purpose built gymnastics centre in Andover. It has achieved National Centre of Excellence status.
Share Capital
The company is limited by guarantee and does not have a share capital.
The liability of the members under their guarantee is limited to a sum not exceeding one pound per member.
Reserves
The charity aims to cover its running costs each year and produce a modest surplus to add to reserves.
Charitable Status
The company is registered with the Charity Commissioners for England and Wales as a charity; its registered charity number is 1035811. It is governed by its Memorandum and Articles of Association.
Risk Management Policy
The charity is focusing on two key areas of risk management policy. A strategy has been developed to re enhance and refocus its key values and services. A plan has been prepared to upgrade and expand facilities to safeguard the future and viability of the charity as a leading gymnastics centre.
Dividends
The memorandum and articles of association of the company do not permit the payment of dividends.
Directors
The directors in office during the period were:-
- A. Lavelle D. Roberts
Independent Examiners
The company's independent examinors are C B Heslop And Company Limited, Chartered Accountants of 1 High Street, Thatcham, Berkshire RG19 3JG.
By Order of the Board
Date: 30th April 2025
D Roberts
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Company Number 02832211 Charity Number 1035811
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024
ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
REVENUE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST AUGUST 2024
| £ £ 51310 INCOME EXPENDITURE 328 Interest paid 379 Bank charges 4352 Rent 0 Advertising 39293 Utilities and service charges 1400 Merchandise 7051 Insurances 0 Staff costs 0 Leasing rentals 0 Legal, Professional and licence fees 2235 Depreciation 55038 -3728 SURPLUS (DEFICIT) FOR THE PERIOD 0 Transferred to Capital Project 103393 Accumulated surplus brought forward 99665 Accumulated surplus carried forward 2023 |
NOTE £ £ 1 77500 328 355 6524 0 47985 0 8358 0 0 0 1900 65450 12050 99665 111715 2024 |
NOTE £ £ 1 77500 328 355 6524 0 47985 0 8358 0 0 0 1900 65450 12050 99665 111715 2024 |
|---|---|---|
| 12050 99665 |
||
| 111715 |
The notes of pages 5 to 7 form part of these accounts
Operations
None of the core operations were discontinued
| Not | Continuing | Not | Continuing | |
|---|---|---|---|---|
| Continuing | Continuing | |||
| £ | £ | £ | £ | |
| 0 | 51310 | Income | 0 | 77500 |
| 0 | -3728 | Surplus (deficit) | 0 | 12050 |
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ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31ST AUGUST 2024
| £ £ NOTE FIXED ASSETS 267488 Tangible assets 3 CURRENT ASSETS 0 Stock of merchandise 0 Debtors and prepayments 4 3015 Cash at bank and in hand - Revenue fund 3015 26036 CREDITORS:amounts falling due within one year -23021 NET CURRENT ASSETS/(LIABILITIES) 244467 TOTAL ASSETS LESS CURRENT LIABILITIES 27524 CREDITORS:amounts falling due after more than one year 216943 RESERVES 99665 Accumulated surplus - Revenue account 117278 - Capital account 216943 The notes on pages 5 to 7 form part of these accounts 2023 |
£ £ 248818 0 0 4157 4157 23982 -19825 228993 0 228993 111715 117278 228993 2024 |
£ £ 248818 0 0 4157 4157 23982 -19825 228993 0 228993 111715 117278 228993 2024 |
|---|---|---|
| 3015 26036 |
4157 23982 |
|
| 228993 0 |
||
| 228993 | ||
| 111715 117278 |
||
| 228993 | ||
The company is entitled to exemption conferred by section 477 Companies Act 2006 not to have these accounts audited and the members have not required an audit under section 476 Companies Act 2006. The directors acknowledge their responsibilities for ensuring that:
i. The company keeps accounting records which comply with sections 386 and 387 Companies Act 2006 and ii. The accounts give a true and fair view of the state of affairs of the company as at 31st August 2024 and of its result for the year then ended in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements on pages 1 to 7 were approved by the Board of Directors.
On: 30th April 2025
A Lavelle ) Director
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST AUGUST 2024
| Capital Project Income Fund Funds £ £ 31515 0 0 51310 0 0 31515 55038 0 -3728 117278 103393 117278 99665 2023 Unrestricted |
Note Total £ Income Resources 31515 From Grants and Donations 51310 From Revenue operations 1 Transfer from Income Transfer to Capital Resources Expended Charitable Expenditure 31515 Deducted from capital assets 55038 On providing facility (Page 2) -3728 Net Incoming Resources 220671 Opening Reserves 216943 Closing Reserves |
Capital Project Fund £ 16770 0 16770 - 0 117278 117278 |
Unrestricted Income Funds Total £ £ 16770 77500 0 - 0 65450 0 12050 12050 99665 216943 111715 228993 2024 |
Unrestricted Income Funds Total £ £ 16770 77500 0 - 0 65450 0 12050 12050 99665 216943 111715 228993 2024 |
|---|---|---|---|---|
| 12050 216943 |
||||
| 228993 |
All income reserves are unrestricted funds and are applied to the charitable purposes set out in the governing document.
Periodically the charity has benefited from capital grants for specific projects and these are treated as restricted funds and passed through the capital project fund and matched against the relevant capital expenditure.
Capital Project Fund
The balance represents incoming restricted funds, the sole purpose for which was the funding of the building project.
The notes on pages 5 to 7 form part of these accounts
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ANDOVER SALTO GYMNASTICS CLUB LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF ACCOUNTING POLICIES
FOR THE YEAR ENDED 31ST AUGUST 2024
-
a) Basis of Accounting The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
-
b) Income and Expenditure Income and Expenditure is stated on the accruals basis.
-
c) Depreciation Depreciation has been provided on fixed assets at the following rates
Fixtures & fittings 15% written down value Gym equipment 15% written down value Mini buses 25% written down value
- d) Cash Flow Statement The company has taken advantage of the exemption under FRS1 1 and has not produced a cash flow statement on the grounds that it is a small company.
STATEMENT OF MANAGEMENT COMMITTEE'S RESPONSIBILITIES
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to:
-
a) select suitable accounting policies and then apply them consistently;
-
b) make judgements and estimates that are reasonable and prudent;
-
c) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2024
| INCOME- REVENUE ACCOUNT Merchandise Outside hire Donations and Grants From Andover Gym Club |
2024 2023 £ £ 0 0 24500 42800 0 25 53000 8485 77500 51310 |
|
|---|---|---|
1 INCOME - REVENUE ACCOUNT
2 TAXATION
The directors are of the opinion that the company is not liable for corporation tax on its income as it is a registered charity.
3 TANGIBLE ASSETS
| TANGIBLE ASSETS | ||||||||
|---|---|---|---|---|---|---|---|---|
| COST At 1st September 2023 Additions At 31st August 2024 DEPRECIATION At 1st September 2023 Charge for year At 31st August 2024 NET BOOK VALUE At 1st September 2023 At 31st August 2024 |
Building £ 254716 -16770 238046 0 0 0 254716 238046 |
Fixtures and Fittings £ 55131 0 55131 53731 210 53941 |
Gym Equipment £ 158183 0 158183 146911 1690 148601 |
Mini Buses £ 22000 0 22000 22000 0 22000 0 0 |
Total £ 490030 -16770 473360 222642 1900 224542 267388 248818 |
|||
| 1400 1190 |
11272 9582 |
|||||||
The building stands on land at Charlton, Andover leased from Test Valley Borough Council on a 99 year lease.
Depreciation on the building has been considered each year. The balance sheet carrying amount represents original build cost less capital grants received for the purpose, plus additions.
Every year a thorough programme is carried out to keep the facility in good repair and condition and the costs of this are charged to expenditure annually.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2024
| 4 5 6 |
DEBTORS Grants outstanding CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Creditors and accruals Bank loan Due to AGC Other loans CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Provisions on building project Bank loan |
|
|---|---|---|
7 SHARE CAPITAL
The company is limited by guarantee and does not have a share capital. The liability of the members under their guarantee is limited to a sum of not exceeding one pound per member.
| ACCUMULATED SURPLUS- REVENUE ACCOUNT At 1st September 2022 Surplus (deficit) for the period Transferred to capital project At 31st August 2023 |
2024 £ 99665 12050 0 111715 |
2023 £ 103393 -3728 0 |
|---|---|---|
| 99665 |
8 ACCUMULATED SURPLUS - REVENUE ACCOUNT
9 LEASING COMMITMENTS
The company had a commitment under a 99 year lease on land at Charlton, Andover for an annual nominal rental of £4,452. This has been re negotiated by the landlord TVBC to include for TVBC a share of the rental profit generated from outside hire.
10 TRUSTEES
None of the Trustees receive remuneration or expenses from the charity for acting as Trustees. A Lavelle and D Roberts are gymnastics coaches and are paid fixed salaries by Andover Gym Club Limited as coaches who train gymnasts.
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ANDOVER SALTO GYMNASTICS CLUB LIMITED (LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANDOVER SALTO GYMNASTICS CLUB LIMITED
Independent examiner's report to the trustees of Andover Salto Gymnastics Club Limited
We report to the charity trustees on our examination of the accounts of the Andover Salto Gymnastics Club Limited (the club) for the year ended 31st August 2024
Responsibilities and basis of report
As the charity trustees of the club you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
We report in respect of our examination of the club's accounts carried out under section 145 of the Act and in carrying out our examination we have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act .
Independent examiner's statement
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the club as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
We confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
C.B. Heslop And Company Limited, Chartered Accountants, 1 High Street, Thatcham, Berkshire RG19 3JG
Date: 30th April 2025
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