REGISTERED COMPANY NUMBER: 02866118 (England and Wales) REGISTERED CHARITY NUMBER: 1050805
Report of the Trustees and Financial Statements for the Year Ended 31 August 2025
for
Basingstoke Gymnastic Club
HLAS Audit Limited Suite 1, The Riverside Building Livingstone Road Hessle HU13 0DZ
Basingstoke Gymnastic Club
Contents of the Financial Statements for the Year Ended 31 August 2025
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 8 |
| Report ofthe Independent Auditors | 9 | to | 12 |
| Statement ofFinancial Activities | 13 | ||
| Balance Sheet | 14 | ||
| Cash Flow Statement | 15 | ||
| Notes to the Cash Flow Statement | 16 | ||
| NotestotheFinancialStatements | 17 | to | 28 |
Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees for the Year Ended 31 August 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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 | January 2019).
The Trustees have had due regard to the guidance published by the Charities Commission on Public Benefit. Specifically, the Trustees have operated the charity with due regard to increasing costs and ensuring that any fee increases have been measured so as to ensure the sustainable operation of the club whilst balancing the objectives noted below. Further detail on this is found later in the document, as are the club's objective and activities.
The Report of the Trustees also forms part of the Directors’ Report.
OBJECTIVES AND ACTIVITIES Objectives and aims
The objectives of the charity are:
1) to advance the education of pre-school children, children, teenagers and adults especially those with special needs by organising, or assisting in the organisation of, the provision of a facility which will enable and encourage such children to participate in gymnastics.
2) to assist in ensuring that due attention is given to the physical education and development of such children and adults and,
3) to the development and occupation of such children's and adults’ minds with a view to furthering these objects.
Our strategic pursuits extend beyond these objectives, aiming to fortify the Club's foundation and provide a secure environment for our dedicated staff. Additionally, we aspire to foster heightened community engagement in sports, contributing to a more active and healthier local populace. Simultaneously, we are resolute in our commitment to collaborate with the local community and council to achieve targets related to borough members. This involves addressing prevalent challenges such as youth obesity and mental health, aligning our efforts with broader societal goals. Our dedication to making a positive impact extends far beyond the boundaries of our organization, reflecting our commitment to enhancing the well-being of the community at large.
Objectives for the year
The main objective of the year was to operate under more 'normalised' circumstances with continued improvement of the day-to-day operations of the Club, making progress towards the Club's reserves targets, and stating the project of looking more strategically at the Club's future direction. In our last report we noted that the main objective was to finalise the implementation of the strategic changes to the pathways, and we are pleased to report that this initiative has been a success across metrics. Further detail on this is found below and in the Club's end-of-year report.
Social investments
The Trustees have due regard to guidance published by the charities commission on public benefit. Our principal source of income is through receipt of fees paid by members for coaching and classes. These are calculated to cover the carefully managed costs of the Club with a small surplus. Fees are graduated in rate per hour costs from £2.66 to £14. The fee model adopted places the highest cost per hour on those who attend for one hour per week for general gymnastics. The rate per hour is deliberately tapered with each additional hour's attendance to allow those who train for the longest hours to continue to participate mindful of affordability.
Through the year, changes to employer national insurance contributions had a strong effect given the majority of the Club's costs relate to wages. As noted before, the Club has implemented a 5-year budgeting process to facilitate effective management. The Trustees are pleased to report that the Club is trading effectively to these budgets to date.
Page 1
Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees
for the Year Ended 31 August 2025
STRATEGIC REPORT
Achievements and performance
Charitable activities
Our purpose as a sports charity is to provide a suitable environment for the participation and?enjoyment of gymnastics, trampolining and freestyle gymnastics, primarily, but not exclusively, to children under 16.
At a glance, achievements across the year included:
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Providing gymnastics to ca. 2,000 monthly members
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Gaining recognition from British Gymnastics for our Welfare function and its leading work in safeguarding and protecting participants.
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Growing podium finishes across competitive pathways ca. 58%, with 346 podium finishes
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Establishing partnerships with 2 local SEN schools, delivering gymnastics to 40+ children with additional needs
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Continued growth in the Club's schools partnerships, delivering gymnastics to over 600 children from these schools and across the wider community
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Further development of the Love2Move programme which seeks to offer gymnastics to older members of the community as well as dementia-friendly sessions to support the wellbeing of those with dementia
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Investing >£25,000 on continued staff training and development
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Investing ca. £75,000 on maintenance and equipment across the facility
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Increasing volunteer participation by 38% YoY
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Achieving the above whilst delivering a modest surplus vs budget to bolster Club reserves (see below)
Fundraising activities
Our membership and fees cover the day-to-day running costs, coach education, maintenance and successful operation of Basingstoke Gymnastic Club Ltd.
In order to further upgrade equipment, support high performance gymnasts in international training and competition, invest in high performance coach education and invest in specialist equipment, we have to rely on additional fundraising activities. Across the year, fundraising achieved sat at >£70,000.
Given the wider economic environment, institutional fundraising across the period remained challenging. A key pillar of the strategy works planned include the development of a fundraising framework that is efficacious at both the grassroots level but also at the institutional level.
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Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees for the Year Ended 31 August 2025
STRATEGIC REPORT Achievements and performance Key performance indicators Membership Growth & Retention Rates
The club measures the number of new members joining the club over varying periods. This indicates the club's popularity and its ability to attract new participants. We track the percentage of members who continue their membership or renew their subscriptions. A high retention rate signifies member satisfaction and loyalty and retention rates are strong across all disciplines.
Financial Performance
The club tracks the club's financial indicators, such as revenue, expenses, and profitability. This includes monitoring income from memberships, competition fees, sponsorships and other revenue streams.
Facility Utilization
The club measures the utilization of the gym facility by monitoring the number of classes, training hours or rentals. This helps to assess the efficiency of facility management and identify opportunities for optimization. Facility utilization is a core focus and the club operates on average at >95% capacity when open.
Volunteer Engagement
The club evaluates the level of volunteer participation and engagement within the club. This includes measuring the number of volunteers, their hours contributed and the impact they have on club activities and events.
Community Outreach
The club monitors our involvement in community outreach programs, such as hosting workshops, organizing events for underprivileged children, or partnering with schools. This can reflect the club's commitment to social responsibility and its impact on the local community.
Annual performance
We measure our performance and success via a number of indicators. These indicators include membership growth and retention rates, financial performance, facility utilization, volunteer engagement, and community outreach.
Across the period, membership across the Club grew marginally to 2,087 monthly members. Within the recreational disciplines membership fell slightly from 1,191 to 1,129. This fall in recreational disciplines was majority caused by the increase in the competitive tier within the Club, which increased from 310 to 360. The elite tier of participants remained stable at 97 participants.
Across the year, over 2,300 badges were awarded across recreational disciplines. Within the competitive pathway, the Club saw increased awards and participation across competitions, whilst at the elite level, 346 podium finishes were achieved, with 182 at regional level and 45 at the national level. Across elite disciplines the Club has 19 participants that represent their nation, 15 of whom represent Great Britain. Volunteer engagement continued to improve significantly over the year which was very pleasing and the Club are thankful for the contributions of these volunteers.
Finally, noting the above successes, the Club also recognises areas for future improvement. Whilst the feedback from the parent survey was positive across most of the areas canvassed, a clear area for improvement for the Club is communication. The Management and Trustees have taken on this feedback and have made both ‘quick win! improvements as well as holding improved communication at the core of the strategic work the Club is undertaking.
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Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees
for the Year Ended 31 August 2025
STRATEGIC REPORT
Financial review
Financial position
Full details of the club's financial position are provided below.
Club Total Capital and Reserves: £215,786 (2024: £59,897) Club Cash at Hand: £257,638 (2024: £179,939) Year End Surplus: £155,889 (2024: £57,095)
The Trustees are pleased to say that the 24/25 year saw the Club generate a modest surplus which will be used to restore member reserve funds and from which we plan to build continued financial stability. Focus looking ahead remains on developing the Club's reserves whilst balancing the other draws on funds (e.g. operating costs, improvements etc.). The long-term target is for the Club to hold 3 months' reserves. The Trustees are pleased to report that the Club has successfully met its shorter-term goal of achieving | month's reserves within the 24/25 year.
Reserves policy
The Club's reserves policy is to hold free reserves equivalent to 3 months' operating costs (currently estimated at approximately £333,000). Free reserves are defined as unrestricted funds excluding amounts designated for specific purposes.
At the balance sheet date, total unrestricted funds were £215,786 (comprising a general fund balance of -£348,130, £486,416 designated for equipment replacement, and £77,500 designated for building works). Free reserves were therefore negative at -£348,130.
The nature of the designated funds can be found within note 24 in the notes to the financial statements.
As mentioned within the review of the financial position, the Club is committed to developing the Club's reserves with an aim of producing an annual surplus whilst finding a balance with operating costs and improvements which will continue to enable a service ot be delivered inline with the Charity's main aims and objectives.
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Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees for the Year Ended 31 August 2025
STRATEGIC REPORT
Potential economic factors
The financial well-being and sustainability of a gymnastics club are subject to several factors. Key considerations include the impact of membership fees and revenue streams, facility costs such as rent and maintenance, competition and pricing strategies, staffing expenses for coaches and administrative personnel, equipment maintenance and upgrades, prudent investment in marketing, insurance costs for liability and property coverage, financial planning for events and competitions, sensitivity to economic conditions affecting disposable income, adherence to government regulations and pursuit of grants, as well as the careful management of technology and software costs for administrative purposes. Balancing these aspects is crucial for maintaining the club's financial stability and success.
Risk management framework
Within our risk management framework, the Club has implemented an operational risk matrix to systematically monitor and assess potential risks. This matrix functions as a valuable tool for classifying risks based on their likelihood and impact, enabling us to efficiently prioritize and allocate resources.
Additionally, we have established robust systems and procedures to effectively manage identified risks. Our risk management protocols are crafted to mitigate, monitor and respond to potential challenges, thereby bolstering our resilience and minimizing the impact on our operations.
We are reviewing and updating our risk management strategies at the Board to align with the evolving landscape. Continuous improvement remains a primary focus, and we actively seek feedback and insights to enhance our approach in addressing emerging risks.
Our commitment to organizational excellence is underscored by the implementation of regular audits, which meticulously assess the performance of both the management team and the overall Club. These comprehensive audits are owned by the Trustees and structured to evaluate various essential facets, encompassing Human Resources, Operational efficiency, financial practices, Health and Safety protocols, Welfare (specifically safeguarding measures) and governance frameworks. The Human Resources audit delves into personnel management, training, and development, ensuring a well-supported and capable workforce. Operational audits focus on the efficiency and efficacy of our day-to-day activities, seeking areas for streamlining and improvement.
Financial audits are crucial for maintaining fiscal responsibility and transparency, scrutinizing financial practices and reporting to uphold the highest standards of financial integrity. Health and Safety audits are paramount in guaranteeing the well-being of all stakeholders, examining safety protocols and compliance with regulations. The Welfare or safeguarding audit prioritizes the protection and welfare of individuals involved with the Club, ensuring a secure environment for all.
Lastly, governance audits aim to assess and strengthen our governance structures, ensuring alignment with legal and ethical standards while promoting accountability and strategic decision-making. Through these meticulous examinations, we demonstrate our unwavering dedication to maintaining a high standard of operational excellence and ethical conduct within our organization. In conducting audits within these key areas, we strive to not only ensure the current effectiveness of our systems but also to identify opportunities for enhancement and adherence to best practices. Across the year, an audit was completed across each area, with improvements and enhancements made.
These audits have been structured to strike a balance between ensuring information is understood and checked to ensure the responsibilities of the Trustees is fulfilled, with the recognition that the Trustees remain non-executive and the executive team have day-to-day responsibility for the Club's operation.
Across the year, limited to no Audit points from the 23/24 year remained outstanding upon completion of the 24/25 audits.
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Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees for the Year Ended 31 August 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document the memorandum and articles of association dated the 26th October 1993, and amended by special resolution dated 26th October 1995. The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Prospective new Trustees are typically proposed by an existing Club member who may or may not be Trustees for formal election at the Club's AGM. Prior to their election prospective Trustees are offered the opportunity to attend at least one board meeting as an observer to properly understand the working of the board. Trustees meet a minimum of once per quarter. Trustees are elected for a three-year period and may stand for re-election. The Trustee onboarding process has been enhanced and we are pleased to have welcomed new Trustees with complementary skillsets onto the Board.
The General Manager / Club Manager is appointed by the Trustees to manage the day-to-day activities of the charity.
During 24/25 1 trustee was appointed (Sharon Johnston).
Organisational structure
Carl Dunne oversees the operation of the Club and reports directly to the board of Trustees. Across the period Joe Fraser stepped down as Performance Director and Karen Holmes remains as Administration Manager.
Induction and training of new trustees
Upon showing interest, potential new Trustees will discuss the roles and requirements with the Chairman, and if suitable will be invited to attend board meetings. Following this meeting, if they are suitable with appropriate skills, are put forward for election at the Annual General Meeting of the Club. Expectations or Trustees are set out within a Board Role and Expectations document and training is completed to cover Welfare obligations, BG best practice, NSPCC best practice for Trustees and their obligations as company directors.
Key management remuneration
To ensure transparency, fairness, and competitiveness in its compensation practices, our Club meticulously structures arrangements for setting pay and remunerations for key management personnel. The process involves a comprehensive analysis of industry standards, market trends, and the company's financial performance. Benchmark parameters and criteria are established to evaluate the roles, responsibilities, and performance of key executives. The company considers factors such as industry benchmarks, regional economic conditions, and the organization's strategic goals. Additionally, individual performance metrics, leadership capabilities, and contributions to the company's success are carefully assessed. This holistic approach ensures that the compensation packages align with market expectations, reflect individual achievements, and incentivize sustained high performance. Regular reviews and adjustments are made to adapt to changing market dynamics, thereby fostering a culture of talent retention, motivation and organizational success.
Related parties
Carole Cairns is a qualified Bookkeeper who oversees the Gym Clubs' accounts on a monthly basis, this is a paid position. The Club also liaises with our auditor Harris Lacey and Swain.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 02866118 (England and Wales)
Registered Charity number
1050805
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Basingstoke Gymnastic Club (Registered number: 02866118)
Report of the Trustees
for the Year Ended 31 August 2025
Registered office The Active Life Centre Stephenson Road Houndmills Basingstoke Hampshire RG21 6KR
Trustees V R Bartlett G J Dennis T HD Moore B Cummings J S Hunt C J Barsby S A Johnston (appointed 1.9.24)
Auditors HLAS Audit Limited Suite 1, The Riverside Building Livingstone Road Hessle HU13 0DZ
Bankers Barclays Bank PLC
Solicitors Brain Chase Coles Wote Street Basingstoke RG21 7NL
Club Manager Carl Dunne
Person with Significant Control Gregg Dennis
Administration Manager Karen Holmes
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Basingstoke Gymnastic Club for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 7
Basingstoke Gymnastic Club (Registered number: 02366118)
Report ofthe Trustees - for the Year Ended 31 August 2025
STATEMENT OF TRUSTEES’ RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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- make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS The auditors, HLAS Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 7°... MIARCA. LOLS, and signed on the board's behalf by:
GJ Dennis - Trustee
Page 8
Report of the Independent Auditors to the Members of Basingstoke Gymnastic Club
Opinion
We have audited the financial statements of Basingstoke Gymnastic Club (the 'charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period ofat least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 9
Report of the Independent Auditors to the Members of Basingstoke Gymnastic Club
Matters on which we are required to report by exception
In the light ofthe knowledge and understanding ofthe charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of[financial][statements][that][are][free][from][material][misstatement,][whether][due][to][fraud][or][error.]
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 10
Report of the Independent Auditors to the Members of Basingstoke Gymnastic Club
Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates; - We focused on specific laws and regulations which we considered may have a direct impact material effect on the financial statements, or the operations of the company which included the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation; - We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.
To address the risk of fraud in relation to revenue recognition, we:
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Performed detailed substantive testing to address completeness and accuracy of sales;
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Assessed the appropriateness and application of the accounting policy concerning income recognition; and
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Performed detailed cut-off testing either side of the balance sheet date.
To address the risk of fraud through management bias and override ofcontrols, we:
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Performed analytical procedures to identify any unusual or unexpected relationships;
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Tested journal entries to identify unusual transactions;
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Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
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Investigated the rationale behind significant or unusual transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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Report of the Independent Auditors to the Members of Basingstoke Gymnastic Club
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and_ the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Ln Laura Drew BFP ACA FCCA (Senior Statutory Auditor) for and on behalfofHLAS Audit Limited Suite 1, The Riverside Building Livingstone Road Hessle HU13 0DZ Date: LIBLGOV8
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Basingstoke Gymnastic Club
Statement of Financial Activities for the Year Ended 31 August 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 3 | 92,302 | - | 92,302 | 108,212 |
| Charitable activities | 6 | ||||
| Provision ofgymnastic facilities | 1,335,241 | - | 1,335,241 | 1,144,689 | |
| Other trading activities | 4 | 164,153 | - | 164,153 | 145,091 |
| Investment income | 5 | 1,399 | - | 1,399 | 1,312 |
| Total | 1,593,095 | - | 1,593,095 | 1,399,304 | |
| EXPENDITURE ON | |||||
| Raising funds | 7 | 104,132 | - | 104,132 | 62,652 |
| Charitable activities | 8 | ||||
| Provision ofgymnastic facilities | 1,333,074 | - | 1,333,074 | 1,279,557 | |
| Total | 1,437,206 | - | 1,437,206 | 1,342,209 | |
| NET INCOME | 155,889 | - | 155,889 | 57,095 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 59,897 | - | 59,897 | 2,802 | |
| TOTALFUNDSCARRIEDFORWARD | 215,786 | - | 215,786 | 59,897 |
The notes form part of these financial statements
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Basingstoke Gymnastic Club (Registered number: 02866118)
Balance Sheet 31 August 2025
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Tangible|assets|15|89,226|-|89,226|155,084|
|CURRENT|ASSETS|
|Stocks|16|3,525|-|3,525|10,426|
|Debtors|17|16,720|-|16,720|11,816|
|Cash|at bank|257,638|-|257,638|179,939|
|277,883|-|277,883|202,181|
|CREDITORS|
|Amounts|falling|due within one year|18|(128,542)|-|(128,542)|(119,508)|
|NET CURRENT ASSETS|149,341|-|149,341|82,673|
|TOTAL ASSETS LESS CURRENT|
|LIABILITIES|238,567|-|238,567|237,757|
|CREDITORS|
|Amounts|falling due|after more than one|year|19|(21,931)|-|(21,931)|(65,782)|
|PROVISIONS FOR LIABILITIES|22|-|-|-|(47,500)|
|ACCRUALS AND DEFERRED INCOME|23|(850)|-|(850)|(64,578)|
|NET ASSETS|215,786|-|215,786|59,897|
|FUNDS|24|
|Unrestricted|funds|215,786|59,897|
|TOTAL FUNDS|215,786|59,897|
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These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on AE MARC OL. and were signed on its behalf by:
----- Start of picture text -----
GJ Dennis - Trustee
----- End of picture text -----
The notes form part of these financial statements
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Basingstoke Gymnastic Club
Cash Flow Statement
for the Year Ended 31 August 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 165,473 | 116,515 |
| Interest paid | (6,294) | (10,201) | |
| Net cash provided by operating activities | 159,179 | 106,314 | |
| Cash flows from investing activities | |||
| Purchaseoftangible fixed assets | (36,898) | (48,725) | |
| Interest received | 1,399 | 1,312 | |
| Net cash used in investing activities | (35,499) | (47,413) | |
| Cash flows from financing activities | |||
| Loan repayments inyear | (45,981) | (46,000) | |
| Net cash used in financing activities | (45,981) | (46,000) | |
| Change in cash and cash equivalents in | |||
| the reporting period | 77,699 | 12,901 | |
| Cash and cash equivalents at the | |||
| beginning ofthe reporting period | 179,939 | 167,038 | |
| Cash and cash equivalents at the end of | |||
| thereportingperiod | 257,638 | 179,939 |
The notes form part of these financial statements
Page 15
Basingstoke Gymnastic Club
Notes to the Cash Flow Statement for the Year Ended 31 August 2025
| 1. | RECONCILIATION OF NET INCOME TO NET CASHFLOW FROM | RECONCILIATION OF NET INCOME TO NET CASHFLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement ofFinancial | ||||
| Activities) | 155,889 | 57,095 | ||
| Adjustments for: | ||||
| Depreciation charges | 102,755 | 114,611 | ||
| Interest received | (1,399) | (1,312) | ||
| Interest paid | 6,294 | 10,201 | ||
| Decrease/(increase) in stocks | 6,901 | (10,090) | ||
| (Increase)/decrease in debtors | (4,904) | 11,595 | ||
| Decrease in creditors | (100,063) | (65,585) | ||
| Net cash provided by operations | 165,473 | 116,515 | ||
| ye | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.9.24 | Cash flow | At 31.8.25 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 179,939 | 77,699 | 257.638 | |
| 179,939 | 77,699 | 257,638 | ||
| Debt | ||||
| Debts falling due within 1 year | (45,931) | 2,131 | (43,800) | |
| Debts falling due after | year | (65,782) | 43,851 | |
| (111,713) | 45,982 | (65,731) | ||
| Total | 68,226 | 123,681 | 191,907 |
The notes form part of these financial statements
Page 16
Basingstoke Gymnastic Club
Notes to the Financial Statements for the Year Ended 31 August 2025
- COMPANY INFORMATION
The company is a private company limited by guarantee and is incorporated in England and Wales. The address of its registered office is The Active Life Centre, Stephenson Road, Houndmills, Basingstoke, Hampshire, RG21 6XR. The company's registered number is 02866118.
The principal activity of the company in the year under review was that of the advancement of education of children within the borough of Basingstoke and Deane by way of providing gymnastic facilities and other associated activities.
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The Charity is aware of their financial position at the year end. The accounts have been prepared on a going concern basis as a result of the budgets that the Charity has prepared for the next three years. It was felt that this is still an appropriate basis ofpreparation.
Monetary amounts in these financial statements are rounded to the nearest whole £1. The financial statements are presented in sterling which is also the functional currency of the company.
Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Sponsorships & Grant income
Income is recognised once confirmed by the sponsor. Where necessary it is deferred into the period in which relates.
it
Room/Coach hire & Birthday parties
Partial payment in advance are taken upon booking, the income from these payments is not recognised until two weeks before the event, when the remaining balance has been settled.
Other income
All other sources of income are recognised in full, at the time of[receipt.]
continued...
Page 17
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
- ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and _ the amount ofthe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5%on cost Improvements to property - 10% on cost Plant and machinery - 20% on cost Fixtures and fittings ~ 20% on cost Computer equipment - 33% on cost
It is the charity's policy to capitalise expenditure greater than £1,000 on gymnastic equipment and fixtures and fittings and computer equipment greater than £500. Amounts smaller than that are charged to resources expended in the Statement of Financial Activities.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose ofeach fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.
Page 18
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 3. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Grants | 92,302 | 108,212 | |
| Grants received, included in the above, are as follows: | |||
| 2025 | 2024 | ||
| £ | £ | ||
| ALC Grant | 63,728 | 80,212 | |
| B&D Council Grant | 28,574 | 28,000 | |
| 92,302 | 108,212 | ||
| 4, | OTHER TRADING ACTIVITIES | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Sponsorships | 1,143 | 2,486 | |
| Shop income | 37,100 | 12,457 | |
| Cafe income | 12,408 | 11,247 | |
| Fundraising events | 76,075 | 67,626 | |
| Birthday parties | - | 7,194 | |
| Room and coach hire | 1,890 | 5,665 | |
| Other income | 1,081 | 911 | |
| Holiday club | 34,456 | 37,505 | |
| 164,153 | 145,091 | ||
| 5. | INVESTMENT INCOME | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Interestreceivable-trading | 1,399 | 1,312 |
Page 19
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 6. | INCOME FROM CHARITABLE ACTIVITIES | INCOME FROM CHARITABLE ACTIVITIES | INCOME FROM CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Activity | £ | if | ||||
| Gymnastic fees& | ||||||
| subscription | Provisionofgymnastic facilities | 1,321,391 | 1,130,184 | |||
| Gymnastic competitions | Provision ofgymnastic facilities | 13,850 | 14,505 | |||
| 1,335,241 | 1,144,689 | |||||
| 7. | RAISING FUNDS | |||||
| Other trading activities | ||||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Purchases | $7,477 | 17,102 | ||||
| Bad debts | 75 | 761 | ||||
| Other costs | 39,662 | 33,441 | ||||
| Events costs | 624 | 1,147 | ||||
| Interest payable and similar | charges | 6,294 | 10,201 | |||
| 104,132 | 62,652 | |||||
| 8. | CHARITABLE ACTIVITIES COSTS | |||||
| Support | ||||||
| Direct | costs (see | |||||
| Costs | note 9) | Totals | ||||
| £ | £ | £ | ||||
| Provision ofgymnastic facilities | 1,184,890 | 148,184 | 1,333,074 | |||
| 9. | SUPPORT COSTS | |||||
| Governance | ||||||
| Management | Finance | costs | Totals | |||
| £ | £ | £ | £ | |||
| Provision ofgymnastic facilities | 124,360 | 15,824 | 8,000 | 148,184 | ||
| 10. | NET INCOME/(EXPENDITURE) | |||||
| Net income/(expenditure) is | stated after charging/(crediting): | |||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Depreciation - owned assets | 102,756 | 114,610 | ||||
| Operatingleaserentals | 45,456 | 54,326 |
Page 20
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
- AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial statements
| 2025 | 2024 |
|---|---|
| £ | £ |
| 8,000 | 7,700 |
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
- STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries | 880,738 | 814,865 |
| Social security costs | 58,063 | 52,146 |
| Other pension costs | 13,592 | 13,782 |
| 952,393 | 880,793 | |
| The average monthly number ofemployees during the year was as follows: | ||
| 2025 | 2024 | |
| Average number ofstaff | 75 | 66 |
| The number ofemployees whose employee benefits (excluding employer pension | costs) exceeded | £60,000 was: |
| 2025 | 2024 | |
| £60,001-£70,000 | 1! | 1 |
The total remuneration and other benefits (excluding employer contributions) paid on behalfofkey management personnel for their services to the charity was £64,249 (2024: £60,532).
Page 21
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|14.|COMPARATIVES|FOR THE|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|108,212|-|108,212|
|Charitable|activities|
|Provision|of gymnastic|facilities|1,144,689|-|1,144,689|
|Other|trading|activities|145,091|-|145,091|
|Investment|income|1,312|-|1,312|
|Total|1,399,304|-|1,399,304|
|EXPENDITURE|ON|
|Raising|funds|62,652|-|62,652|
|Charitable|activities|
|Provision|of gymnastic|facilities|1,279,557|-|1,279,557|
|Total|1,342,209|-|1,342,209|
|NET INCOME|57,095|-|57,095|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|2,802|-|2,802|
|TOTAL FUNDS|CARRIED|FORWARD|59,897|-|59,897|
----- End of picture text -----
Page 22
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
15. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Improvements | |||
| Long | to | Plant and | |
| leasehold | property | machinery | |
| £ | £ | £ | |
| COST | |||
| At 1 September 2024 | 1,631,814 | 162,598 | 343,962 |
| Additions | - | 5,730 | 28,598 |
| Disposals | - | - | - |
| Reclassification | ~ | - | 44,514 |
| At 31 August 2025 | 1,631,814 | 168,328 | 417,074 |
| DEPRECIATION | |||
| At 1 September 2024 | 1,561,244 | 144,456 | 283,824 |
| Charge for year | 65,541 | 3,255 | 30,696 |
| Eliminated on disposal | - | - | - |
| Reclassification/transfer | - | - | 44,514 |
| At 31 August 2025 | 1,626,785 | 147,711 | 359,034 |
| NET BOOK VALUE | |||
| At 31 August 2025 | 5,029 | 20,617 | 58,040 |
| At 31 August 2024 | 70,570 | 18,142 | 60,138 |
| Fixtures | |||
| and | Computer | ||
| fittings | equipment | Totals | |
| £ | £ | £ | |
| COST | |||
| At 1 September 2024 | 30,377 | 31,846 | 2,200,597 |
| Additions | 1,524 | 1,046 | 36,898 |
| Disposals | (4,436) | (14,422) | (18,858) |
| Reclassification | - | - | 44,514 |
| At 31 August 2025 | 27,465 | 18,470 | 2,263,151 |
| DEPRECIATION | |||
| At 1 September 2024 | 26,137 | 29,852 | 2,045,513 |
| Charge foryear | 1,718 | 1,546 | 102,756 |
| Eliminated on disposal | (4,436) | (14,422) | (18,858) |
| Reclassification/transfer | - | - | 44,514 |
| At 31 August 2025 | 23,419 | 16,976 | 2,173,925 |
| NET BOOKVALUE | |||
| At 31 August 2025 | 4,046 | 1,494 | 89,226 |
| At31August2024 | 4,240 | 1,994 | 155,084 |
Page 23
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 16. | STOCKS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Stocks | 3,525 | 10,426 | |
| 17. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors | 10,775 | 7,759 | |
| Other debtors | 1,536 | - | |
| Prepayments | 4,409 | 4,057 | |
| 16,720 | 11,816 | ||
| 18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Other loans (see note 20) | 43,800 | 45,931 | |
| Trade creditors | 8,996 | 2,960 | |
| Social security and other taxes | 16,119 | 11,150 | |
| Other creditors | 12,528 | 13,460 | |
| Accrued expenses | 47,099 | 46,007 | |
| 128,542 | 119,508 |
Included within creditors above is deferred income totalling £1,423 (2024 - £2,322). The movement in the year is as follows:
| Charitable | ||
|---|---|---|
| activities | Total | |
| £ | £ | |
| At 1 September 2024 | 2,322 | 2,322 |
| Released from previous years | (2,322) | (2,322) |
| Deferred in the current year | 1,423 | 1,423 |
| At31August2025 | 1,423 | 1,423 |
Incoming resources have only been deferred in respect of monies received in advance of the services being delivered.
Page 24
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 19. | CREDITORS: AMOUNTS FALLING DUEAFTERMORETHAN ONE YEAR | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Otherloans(seenote20) | 21,931 | 65,782 |
| The loan outstanding at the year end is due to be repaid during the year to 31 August | 2027. | Interest is charged at | Interest is charged at | |
|---|---|---|---|---|
| a variable rate, in the year to 31 August 2025 interest was charged at a rate between 7.4-6.4%. | ||||
| 20. | LOANS | |||
| An analysis of the maturity ofloans is given below: | ||||
| . | 2025 | 2024 | ||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Other loans | 43,800 | 45,931 | ||
| Amounts falling between one and two years: | ||||
| Other loans - 1-2 years | 21,931 | 65,782 | ||
| 21. | LEASING AGREEMENTS | |||
| Minimum lease payments under non-cancellable operating leases fall due as follows: | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Within one year | 45,456 | 45,456 | ||
| 22. | PROVISIONS FOR LIABILITIES | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Provisions | “ | 47,500 | ||
| 23. | ACCRUALS AND DEFERRED INCOME | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Deferredgovernmentgrants | 850 | 64,578 |
Page 25
continued...
Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
- MOVEMENT IN FUNDS
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1.9.24|in|funds|funds|31.8.25|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|(302,791)|92,161|(137,500)|(348,130)|
|Designated|equipment|replacement|fund|362,688|63,728|60,000|486,416|
|Designated|building|fund|-|-|77,500|77,500|
|59,897|155,889|-|215,786|
|TOTAL|FUNDS|59,897|155,889|-|215,786|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,529,367|(1,437,206)|92,161|
|Designated|equipment|replacement|fund|63,728|-|63,728|
|1,593,095|(1,437,206)|155,889|
|TOTAL|FUNDS|1,593,095|(1,437,206)|155,889|
|Comparatives|for|movement|in|funds|
|Net|
|movement|At|
|At|1.9.23|in|funds|31.8.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|(279,674)|(23,117)|(302,791)|
|Designated|equipment|replacement|fund|282,476|80,212|362,688|
|2,802|57,095|59,897|
|TOTAL FUNDS|2,802|57,095|59,897|
----- End of picture text -----
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Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
- MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,319,092|(1,342,209)|(23,117)|
|Designated|equipment|replacement|fund|80,212|-|80,212|
|1,399,304|(1,342,209)|57,095|
|TOTAL FUNDS|1,399,304|(1,342,209)|57,095|
----- End of picture text -----
A current year 12 months and prior year 12 months combined position is as follows:
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1.9.23|in|funds|funds|31.8.25|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|(279,674)|69,044|(137,500)|(348,130)|
|Designated|equipment|replacement|fund|282,476|143,940|60,000|486,416|
|Designated|building|fund|-|-|77,500|77,500|
|2,802|212,984|-|215,786|
|TOTAL|FUNDS|2,802|212,984|-|215.786|
----- End of picture text -----
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|cs|
|Unrestricted|funds|
|General|fund|2,848,459|(2,779,415)|69,044|
|Designated|equipment|replacement|fund|143,940|-|143,940|
|2,992,399|(2,779,415)|212,984|
|TOTAL|FUNDS|2,992,399|(2,779,415)|212,984|
----- End of picture text -----
The designated equipment replacement fund is a provision for the future replacement of larger gym equipment. Equipment may be replaced in line with the life expectancy per the manufacturer's guidance, however the condition of gym equipment is assessed for its safety by a third party, at a minimum, annually and sometimes replaced based on this guidance.
The designated building fund is a wider reserve that is a provision to cover larger repairs and maintenance around the premises. These larger repairs would be expected to be significant but occur only every 15+ years.
Page 27
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Basingstoke Gymnastic Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
25. EMPLOYEE BENEFIT OBLIGATIONS
During the period the charitable company paid £13,592 (2024: £13,782) into defined contribution schemes. The expense and liability are allocated to unrestricted funds. There was £2,999 outstanding at the period end (2024: £3,080).
26. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2025.
Page 28