Portsmouth School of Gymnastlcs
Charlty No. 1055462
Company No. 03174880
Trustees, Report and Unaudlted Accounts
31 December 2024

Portsmouth School of Gymnastlcs
Contents
Pages
2to3
Trustees, Annual Report
Independent Examiner's Report
Ststement of Financial Activities
Summary Income and Expendlture Account
Balance Sheet
Statement of Cash flows
Notes to the Accounts
9t015
Detailed Statement of Flnanclal Actlvltles
16to17
Page I

Portsmouth School of Gymnastics
Trustses Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006,
present their report with the unaudited financial statements of the charity for the year ended 31
December 2024.
REFERENCE AND ADMINISTRATIVE DEfAILS
Company No. 03174880
Charlty No. 1055462
Princlpal Offlce
Unit 2, Marshlands Spur
Farlington
Portsmouth
Hampshire
P06 ITL
Reglstered Office
50 Catisfield Road
Milton
Portsmouth
Hampshire
P04 8NJ
Directors and Trustees
The D1￿CtorS of the charltable company are its Trustees for the purposes of charity law.
The following Dlrectors and Trustees served during the year:
J.C. Barton
M. Bonnlngton
D.A. Mouland
L Smith
J.D. Such
Key Management Personnel
Chalr
Ac¢ountants
JDSuch
The Running Accountant Limited
2 Farmers Way
Waterlooville
Harnpshire
P08 9GY
OBJECTIVES AND AcnviTIES
The object and aim of the Charity is to advance the physical education and development of children
attending schools and resident in the Portsmouth area and surrounding Counties by the provision of facilitles
and instruct5on in gymnastics.
Pa8e 2

Portsmouth School of Gymnasti(s
Trustees Annual Report
The main activltles undertaken in relatlon to those purposes is the operation of a gymnasium in Portsmouth.
The main activities undertaken to further the charity's purposes for the publlc benefit and Include
confirmation that the trustees have given due consideration to the Charlty Commission's guidance on the
public benefit requirement.
ACHIEVEMENTS AND PERFORMANCE
Portsmouth School of Gymnastics contlnues to offer structured 8ymnastics pro8rammes to all its members
FINANCIAL REVIEW
The income in 2024 increased by £38K or 8%. This reflects a small Increase In numbers whilst there has also
been the effect of the increased cost of Ilvlng. This has been reviewed in 2025 and numbers are remaining
strong.
Reserve Policy. The reserve funds have remained at a similar level to 2023 at £15K although thls has
improved in 2025 as members have increased agaln and there has been a small increase in fees.
All such funding has been earmarked for use on new state of the art TeamGym equipment, leasehold
improvements, and general repairs in the new facility.
PLANS FOR FUTURE PERIODS
Leasehold improvements and repairs continue to be a significant cost. PSG currently have an 8-year lease and
we will be negotlatlng an increase to 15 years but this hinges on our landlords, plans in particular their
development of a large site adjacent to their main offices.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Charity is controlled by its governing doument. a deed of trust, and constitues a limited company, limited
by guarantee, as definded by the Companles Act 2006.
PSG Is run by a Committee of Management which is made up of Trustees and senior coaches. All members of
the Committee are elected at the Annual General Meeting (AGM).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial ststements
comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the
charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companles subject to
the small companies regime as set out in Part 15 of the Companies Act 2006 and In accordance with the
Charities SORP {FRS 102).
Slgned on behalf
J.D. Such
Trustee
Oljuly 2025
Page 3

Portsmouth School of Gymnastlcs
Independent Examlners Report
Independent Examlner's Report to the trustses of Portsmouth School of Gymnastlcs
I report to the charity trustees on my examlnation of the financial statements of Portsmouth School of
Gymnastics for the year ended 31 December 2024.
Responslbllltles and basls of report
As the charity's trustees of the company (and also its d1￿CtorS for the purposes of company law) you are
responsible forthe preparation of the financlal statements In accordan￿ wlth the requirements of the
Companies Act 2006 {'the 2006 Act.
Having satlsfied myself that the financlal statements of the Charity are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examinatlon of
your charlty's financlal statements as carrled out under section 145 of the Charltles Act 2011 ('the 2011 Ad).
In carrylng out my examlnatlon I have followed the Dlrectlons glven by the Charlty Commission under sectlon
145(5) (b) of the 2011 Act.
Independent examlner's statement
A5 the charlty's gross Income exceeded £250,000 your examlner must be a member of a body Ilsted In
sectlon 145 of the 2011 Act. I conflrm that l am quallfied to undertake the examlnatlon because l am a
member of FCCA, whlch Is one of the Ilsted bodles.
I have completed my exarnlnatlon. I can confirm that no materlal matters have come to my attentlon In
connectlon wlth the examlnatlon glvlng me cause to belleve:
accountlng records were not kept In accordance wlth sectlon 386 of the 2006 Act . or
the flnancial statements do not accord wlth those records; or
• the financial statements do not comply wlth the accountlng requlrements under sectlon 396 of the 2006
Act other than any requlrement that the flnancial statements give a 'true and fair, vlew whlch Is not
matter consldered as part of an Independent examlnatlon; or
the financlal statements have not been prepared in accordano wlth the methods and prlnclples of the
Statement of Recommended Practice for accountlng and reporting by charltles appllcable to charitles
preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and
Republic of Ireland (FRS 102).
I have no COn￿rn5 and have come across no other matters In connectlon wlth the examlnatlon to whlch
attentlon should be drawn In thls report In order to enable a proper understandlng of the financlal
statements to be reached.
Mark G Wilson FCCA
The Runnin8 Accountant Limlted
2 Farmers Wav
Waterlooville
Hampshi
P08 9GY
Oljuly 2025
Page 4

Portsmouth School of Gymnastics
Statement of Financial Artlvities
for the year ended 31 De￿fflber 2024
Unrestricted
funds Totsl funds Totsl funds
2024
2024
2023
Notss
Income and endowments
from:
Donations and legacies
Charitable activitles
Investments
5.000
505,856
149
3,000
464,911
216
505,856
149
Totsl
511,005
511,005
468,127
Expendlture on:
Charltable activltles
Other
432,076
63,610
495,686
432,076
63,610
495,686
357,807
55,020
Total
412,827
Net galns on Investments
Net Income
15,319
15,319
55,300
Transfers between funds
Net Income before other
galns/(Iosses)
Other galns and losses
15,319
15,319
55,300
Net movement In funds
Reconclllatlon of funds:
Total funds brought forward
Total funds arrled forward
15,319
15,319
55,300
298,977
298,977
243,677
314,296
314,296
298,977
Page 5

Portsmouth School of Gymnastics
Summary Income and Expenditure Account
for the year ended 31 December 2024
2024
2023
Income
510,856
467,911
Interest and investment income
149
216
Gross Income for the year
Expenditure
511.005
468,127
437,076
357,807
Depreciation and charges for
impairment of fixed assets
58,610
55,020
Total expendlture for the year
Net income before tax forthe year
495,686
412,827
15.319
55,300
Net income for the year
15,319
55,300
Page 6

Portsmouth School of Gymnastlc5
Balance Sheet
at 31 December 2024
Company No. 03174880
2024
2023
Flxed assets
Tanglble assets
11
360,240
360,240
382,009
382,009
Current assets
Cash at bank and In hand
25,229
25,229
(42,027)
{16,798)
343,442
{29,146)
314,296
20,250
20,250
{49,191)
{28,941)
353,068
{54,091)
298,977
Credltors: Amount falllng due wlthln one year
Net current Ilabllltles
12
Total assets less current Ilabllltles
Credltors: Amounts falllng due after more than one year
Net assets excludlng penslon asset or Ilablllty
13
Total net assets
314,296
298,977
The fvnds of the charlty
Restrlcted funds
Unrestrlcted funds
General funds
14
14
314,296
298,977
314,296
298,977
Reserves
14
Total funds
314,296
298,977
These accounts have been prepared In accordance wlth the speclal provlslons of Part 15 of the Companles
Act 2006 relatlng to small companles.
Forthe year ended 31 December 2024 the company was entltled to exemptlon under sectlon 477 of the
Companles Act 2006 relatlng to Small companles.
The members have not requlred the company to obtaln an audlt in accordance wlth sectlon 476 of the
Companles Act 2006.
The dlrettors acknowledge thelr responsibllltles for complying with the requlrements of the Companies Act
2006 wlth ￿spect to accounting records and the preparatlon of accounts.
Approved by the board on 01 July 2025
And slgned on its behalf bv:
J.D. Such
Trustee
01 July 2025
Page 7

Portsmouth School of Gymnastks
Statsment of Cash flows
forthe year ended 31 December 2024
2024
2023
Cash flows from operating activities
Net Income per Statement of Financial Activities
15,319
55,300
Adjustments for.
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Increase in trade and other payables
58,610
(149)
256
55,020
{2161
4.244
Net cash provlded by operating activities
74,036
114,348
Cash flows from Investlng activities
Payments for property• plant and equipment
Dividends, interest and rents from investments
136,841)
149
(59,727)
216
Net Cash used In Investlng activities
(36,692)
(59,511)
Cash flows from financln8 artlvltles
Repayment of borrowings
Repayments of obligations under finance lease and hire
purchase contracts
(24,108)
(24,401)
(8,257)
(13,0191
Net cash used In flnancing artlvlties
{32,36S)
(37,420)
Net Increase In cash and cash equlvalents
4,979
17,417
Cash and cash equlvalents at the beglnnlng of the year
20,250
2.833
Cash and cash equlvalents at the end of the year
25,229
20,250
Components of cash and cash equivalents
Cash and bank balances
2S.229
20,250
25,229
20,250
Page 8

Portsmouth School of Gymnastlcs
Notss to the Accounts
forthe year ended 31 December 2024
l Accountlng pollcles
Basls of preparatlon
The financial statements have been prepared In accordance wlth Accounting and Reportlng by Charltles:
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 IFRS 102) (effective I
January 20151- (Charities SORP (FRS 10211, the Financlal Reporting Standard appllcable In the UK and
Republic of Ireland IFRS 102) and the Companies Act 2006.
Change In basls of accountlng or to prevlous accounts
There has been no change to the accountlng pollcles {valuatlon rules and method of accountlng) slnce
last year and no changes have been made to accounts for prevlous years.
Fund accountlng
Unrestrlcted funds These are avallable for use at the dlscretion of the trustees In furtherance of the
general objects of the charlty.
These are unrestrlcted funds earmarked by the trustees for partlcular purposes.
These are unrestrlcted funds whlch Include a revaluatlon reserve representlng the
restatement of Investment assets at thelr market values.
These are avallable for use Subject to restrfctlons imposed by the donor or throu8h
terms of an appeal.
Deslgnated funds
Revaluatlon funds
Restrlcted fvnds
Income
Recognitlon of
income
Income Is induded In the Statement of Flnanclal Actlvlties (SOFA) when the charlty
becomes entltled to, and vlrtually certaln to recelve, the Income and the amount of
the Income can be measured wlth sufflclent rellablllty.
Income with related Where income has related expendlture the Income and related expendlture Is
expenditure
reported gross In the SOFA.
Donations and
legacles
Voluntary Income recelved by way of grants, donations and 8lfts Is Included In the
the SOFA when recelvable and only when the Charity has uncondltlonal
entltlementto the Income.
Tax reclaims on
Income from tax reclalms Is Included In the SOFA at the same tlme as the
donations and glfts gift/donatlon to whlch It relates.
Donated services
These are only included In Income (wlth an equlvalent amount In expenditure)
and facilities
where the benefit to the Charlty Is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help receivedls not Included In the accounts.
Investment income Thls is included in the accounts when recelvable.
Gains/(losses) on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Galnslllosses} on
investment assets
This includes any gain or loss on the sale of Investments.
Page 9

Portsmouth School of Gymnastlcs
Notss to the Accounts
Expenditure
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attractlng voluntary Income. fundralsin8
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activities and
charitable activities seNices in the furtherance of its objects, including the making of grants and
governance costs.
All grant expendlture Is accounted for on an actual paid basis plus an accrual ft>r
grants that have been approved by the trustees at the end of the year but not yet
paid.
These indude those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any audivindependent examination fees,
Costs linked to the strategic management of the Charity, together with a share of
other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Taxatlon
The charity is exempt from corporation tax on Its charitable activities.
Tangible flxed assets and depreclatlon
Depreciation is provided at the followlng annual rates in order to write off each asset over its estlmated
useful lrfe:
In accordan￿ wlth lease
term
IO% Reducing balance
Leasehold property
Large equipment
Freehold investment property
Investment properties are measured initially at cost and subsequently at frdir value at each balance sheet
date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they
arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair
value which is the amount the charity would have been willing to pay forthe Items on the open market.
Trade and other debtOfS
Trade and other debtors are recognised at the settlement amount due after anytrade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-temi hlghly liquid investments with original maturities of three months or less and bank overdrafts.
In the ststement of financial position. bank overdrafts are shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdraft5 that are
repayable on demand and form an Integral part of the company's cash management.
Page 10

Portsmouth School of Gymnastlcs
Notss to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction prlce. Other creditors and provlslons are recognised
where the charlty has a present obligation resulting from a past event that will probably result in the
transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimated reliably. C￿dItorS and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Forelgn currendes
Monetsry assets and liabilities denominated in currencies other than the functional currency of the
charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of
exchange on the date that the transaction occurred.
All exchange differences are are tsken into account in arrlvlng at net income/expenditure.
Leased a55ets
whe￿ the charlty enters into a lease which entails taklng substsntially all the risks and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the rlsks and rewards of ownershlp to charity are classified
as operating leases.
Assets held under finance leases are Inltlalty recognised as assets of the charity at their falrvalue at the
inception of the lease or. if lower, at the present value of the minimum lease payments. The
corresponding liability to the lessor Is included in the balance sheet date as a finance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to
achieve a constant rate of interest on the remaining balance of the liabillty. Finance expenses are
recognised immediately, unless they are d1￿CtlY attributable to qualifying assets, in which case they are
capitalised in accordance with the charity's pollcy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basls over the lease term.
In the event that lease Incentlves are received to enter Into operating leases. such in￿ntiveS are
recognised as a liability. The aggregate benefit of incentives is reco8nised as a reduction of rental
expense on a stral8ht-Ilne basis.
Pension costs
The charity operates a defined contribution plan for Its employees. A defined contribution plan is a
pension plan under which the company pays fixed contributions into a separate entity. Once the
contributions have been pald the company has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the company in independently administered funds.
Recelpt of donated goods, facilities and services
All donated goods, facilities and services received are recognised wlthln incoming resources and
expenditure at an estimate of the value to the charity.
Page 11

Portsmouth Sthool of Gymnastlcs
Notes to the Accounts
2 Company status
The company is a private company limited by Buarantee and consequently does not have share capitsl.
3 Statement of Flnanclal Actlvltles- prior year
Unrestricted
funds Total funds
2023
2023
Income and endowments from:
Donations and legacies
aiaritable activities
Investments
3,000
464,911
216
3,000
464,911
216
Total
468,127
468,127
Expenditure on:
Charitable activities
357,807
55,020
357,807
55.020
Other
Totsl
412,827
412,827
Net income
55,300
55,300
Net income before other
Eains/(10sse5)
Other gains and losses:
Net movement in funds
55,300
55,300
55,300
55,300
Reconclllatlon of funds:
Total funds brought forward
Total funds carried forward
243,677
243,677
298,977
298,977
4 Income from donatlons and legacles
Unrestrirted
Totsl
Total
2024
2023
Grants
5,000
5,000
5,000
5,000
3,000
3,000
5 Income from charitsble actlvltles
Unrestrlcted
Totsl
Total
2024
2023
School - staff & coach costs
505,856
505,856
505,856
505,856
464,911
464,911
Page 12

Portsmouth Sthool of Gymnastlcs
Notes to the Accounts
6 Incorne from investments
Unrestricted
Totsl
2024
Total
2023
Bank interest
149
149
216
149
149
216
7 Expendlture on charltable actlvlties
Unrestrlctsd
Total
Total
2023
Expenditure on charitable
activities
School - stsff & coach costs
School- premlses costs
School - administration costs
Governance costs
241,728
64,264
124.344
241.728
64,264
124,344
185.215
67,966
102,886
1.740
432,076
1,740
432.076
1.740
357,807
8 Other expendlture
Unrestrirted
Total
2024
Total
Z023
Grants paid
Amortlsation, depreclation,
impairment, profit/loss on
disposal of fixed assets
5,000
58,610
58,610
55,020
63,610
63,610
55,020
9 Net Income before transfers
2024
2023
This is stated after charging:
Depreclation of owned fixed assets
10 Staff costs
No employee receNed emoluments in excess of £60,000.
58,610
55,020
The average monthly number of full time equivalent employees during the year was as follows:
2024
Number
2023
Number
Staff
Page 13

Portsmouth School of Gymnastlcs
Notes to the Accounts
11 Tanglble flxed assets
Land and
bulldlngs
equlpment
Total
Cost or revaluatlon
At l January 2024
Additions
At 31 December 2024
Depreclatlon and
ImpaFmient
At l January 2024
Depreciation charge forthe
year
At 31 December 2024
302,148
21,325
323,473
180,919
15,516
196,435
483,067
36.841
519,908
67,724
33.334
101,058
42,183
16,427
58,610
109,907
49,761
159,668
Net book values
At 31 December 2024
At 31 December 2023
12 Creditors:
amounts fallin8 due within one year
213,566
234,424
146,674
147,585
360,240
382,009
2024
2023
Other loans
Obligations under finance lease and hire
purchase contract5
Other taxes and social security
Other creditors
Accruals
24,048
23,211
3,497
11,754
3.914
9,868
700
42,027
5,020
8,506
700
49,191
13 Credftors:
amounts falling due after more than one year
2024
2023
Other loans
29,146
29,146
54,091
54,091
Page 14

Portsmouth School of Gymnastlcs
Notes to the Accounts
14 Movement In funds
Incomlng
resources
At31
December
2024
(Includlng
other
At l January Bains/losses
2024
Resources
expended
Restrlcted funds:
Unrestrirted fvnds:
General fvnds
298,977
511,005
{495,686)
314.296
Totsi funds
15 Analysis of net assets between funds
298,977
511,005
1495,686)
314,296
Unrestrlrted
fvnds
Total
Fixed assets
Net current assets
Creditors due in more than one year and
provisions
360,240
{16,798)
360,240
(16,7981
(29.146)
(29,146)
314,296
314,296
16 Reconcillatlon of net debt
At31
December
2024
At l January
2024
Cash flows
Cash and cash equivalents
20,250
20,250
4,979
4,979
25,229
25,229
Borrowings
Obligations under HP/Finance leases
(77,302)
{11,754)
(89.056)
24,108
8,257
32,365
(53,194)
(3,497)
{56,691)
Net debt
(68.806)
37,344
(31,4621
17 Related party disclosures
Contmlling party
The company is Ilmited by guarantee and has no share capital; thus no single party controls the company.
Page 15

Portsmouth Sthool of Gymnastics
Detalled Statement of Financlal Actlvltles
for the year ended 31 De￿rnber 2024
Unrestrfrted
funds Total funds Total funds
2024
2024
2023
Income and endowments from:
Donations and legacies
Grants
5,000
5,000
3,0(XJ
3,OlXI
Charltsble activitles
School - staff & coach costs
505,856
505,856
505,856
505,856
464,911
464,911
Investments
Bank Interest
149
149
149
149
216
216
Total Income and endowments
511,005
511,005
468,127
Expendlture on:
Charftable actlvltles
School - staff & coach costs
School - premlses costs
School - admlnistration costs
241,728
64,264
124,344
430,336
241.728
64,264
124.344
430,336
185,215
67,966
102,886
356,067
Governance costs
1,740
1,740
1,740
1,740
1,740
1,740
Total of expendlture on charltsble
actlvltles
432,076
432,076
357,807
Other expendlture
Grants pald
5,000
5,000
5,000
General admlnistrative costs,
Includlng depreciatlon and
amortlsation
Depreciation of land and
bulldings
Depreclatlon of LarBe equlpment
42,183
42,183
38,621
16,427
58.610
63,610
495,686
16,427
58,610
63,610
495,686
16.399
55,020
55,020
412,827
Total of expendlture of other costs
Totsl expendlture
Net gains on investments
15,319
15,319
55,300
Net income
Page 16

Portsmouth School of Gymnastics
Detslled Statement of Hnancial Activltles
Net Income before other
galns/(losses)
Other Galns
15,319
15,319
55.31JO
Net movement In funds
15,319
15,319
55,300
Reconclllatlon of funds:
Total funds brought forward
298,977
298,977
243,677
Total funds carried forward
314.296
314,296
298,977
Page 17