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2025-07-31-accounts

Charity number: 1057559 Company number: 03221655

Forest of Dean Gymnastics Club (A company limited by guarantee)

Trustees' report and financial statements

for the year ended 31 July 2025

Forest of Dean Gymnastics Club (A company limited by guarantee)

Contents

Page
Legal and administrative information 1
Trustees' report 2 - 5
Independent examiners' report 6
Statement of financial activities 7
Balance sheet 8 - 10 - 11
Notes to the financial statements 12 - 17

Forest of Dean Gymnastics Club (A company limited by guarantee)

Legal and administrative information

Charity number 1057559
Company registration number 03221655
Registered office Five Acres
Park Road
Coleford
Gloucestershire
GL16 7QW
Trustees Christopher Hammersley (Secretary)
Robin Pittson
Wendy Heiner
Graham Goode
Abigail Simpson
John Newland Chairman
Secretary C Hammersley
Chief executive Mrs L. C. Hammersley
Accountants Oversby & Company
Unit 1C Mushet Business Centre
Crucible Close
Coleford
Gloucestershire
GL16 8RE
Bankers Lloyds Bank
Market Place
Coleford
Gloucestershire
Aldermore Bank
1st Floor, Block B
Western House
Lynchwood
Peterborough PE2 6FZ

Forest of Dean Gymnastics Club (A company limited by guarantee)

Report of the trustees (incorporating the directors' report) for the year ended 31 July 2025

The trustees present their report and the financial statements for the year ended 31 July 2025. The trustees, who are also directors of Forest of Dean Gymnastics Club for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.

Structure, governance and management

Governing Documents (The Companies Act 1985 and 1989)

The Charity is controlled by its governing document, a deed of trust, and constitutes a limited Company, limited by guarantee, as defined by the Companies Act 2006.

The company is governed by a Memorandum of Association of the Forest of Dean Gymnastics Club,and by Articles of Association of the Forest of Dean Gymnastics Club, for a limited Company by Guarantee and not having a Share Capital

Organisational Structure

The Board of Trustees, who also act as directors, hold licenses and are the tenants. They make agreements and contracts with outside agencies, act as the employers and hire staff. They are responsible for the maintenance and the Health & Safety of the building and its environments. The Board set and apply suitable accounting policy, agree spending and prepare financial statements and reports. They control bank accounts and investments, salaries and wages and have full financial oversight of the Company/Charity affairs and transactions.

They delegate day-to-day running of the Charity and all its operational issues and decisions to its Managing Director, the Director of Coaching and Centre Development. She works with the Centre Administrator, the Fitness Coordinator and gymnastics coaches to provide efficient and appropriate delivery of the Charity's activities. She has the authority to manage and control staff, set budgets and targets for future developments. She is initially responsible to the Board for Health & Safety and for staff development and training. In cooperation with the Board she manages th HR issues.

The Director of Coaching & Centre Development has an ex officio, nonvoting position on the Board.

Related Parties

Five Acres High School are the Landlords of the Land on which the Charity's buildings are located and of access rights and car parking.

The rights are confirmed in a Lease dated 20th August 1996 for a period of Fifty years, paying the yearly rent of £1 on the anniversary of the lease.

Principle Activity

The principle activity of the Company/Charity is to provide the opportunity, facilities and qualified, suitably trained staff to support, teach, instruct and otherwise encourage physical education and health in the area of benefit with particular emphasis on physical development via the mediums of gymnastics and fitness. To fulfil this purpose it provides such organisation, supervision and equipment at the Company/Charity's Centre, or in schools and clubs elsewhere.

Objectives

To further the physical education of such inhabitants of the Forest of Dean and surrounding area to ensure due care is given to further the Health & Fitness of such inhabitants in addition to the development of their minds.

To support, teach, instruct, coach and otherwise encourage physical education in the area of benefit through the medium of gymnastics and fitness and to improve the quality of life for those suffering any social deprivation and from physical disabilities in the area of benefit by use of sporting, fitness and gymnastics equipment and facilities.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Report of the trustees (incorporating the directors' report) for the year ended 31 July 2025

To provide and train those involved in the provision of physical education using gymnastics and fitness within the area of benefit.

Review for the Year

The Company/Charity reports show an increase in incoming resources of approximately £32k above the previous financial year 2022. This is due mainly to income generated by the activities within the Centre, which are increased approximately by £29k. Other factors that have helped are the increases in interest from investments. The Trustees are pleased to see what appears to be an increasing uplift of activities since the decline due to the Covid-19 pandemic. On the expenditure the largest item is salaries and wages, amounting to nearly £146k with associated costs such as NI and pension contributions.

There remains a fairly constant waiting list for gymnastics. The main issue limiting expansion is the difficulty in hiring more qualified staff. The CEO and the trustees continue to advertise and strive to employ more gymnastics coaches and the CEO has initiated a Junior Coaching Academy to try to develop coach education "in house".

Future spending will be necessary in forthcoming years as some of the gymnastics equipment is nearing the end of its useful and safe life. The purchase of a new 12 x 12meter floor area has been achieved and the new facility is in everyday use by members.

A concerning issue with the roof of the building has become more serious during the period and leaks are increasing. The roof was re painted in 2018/19 but leaks continue. Several attempts have been made to address the problem areas but with little success. A permanent solution of fitting a "Cover Roof" is being explored but this will be very expensive. The CEO and management are embarking on a fundraising drive to raise funds specifically for the roof repairs. Grants are being sought, nationally and locally to support this effort.

Financial review

Forest of Dean Gymnastics Club (A company limited by guarantee)

Report of the trustees (incorporating the directors' report) for the year ended 31 July 2025

Reserves Policy

The charity's/Company reserves of Restricted Funds are currently held in two separate accounts with the Aldermore Bank. One account is a fixed term account the other an Instant Access account. Both pay varying interest rates. Consideration is given to any contractual liabilities in respect of premises and asset/equipment servicing, redundancy liabilities to staff and any other significant factors should the Company/Charity need to close and also to preserve the ability of the Charity/Company to maintain its principle activities without interruption. Having reviewed the financial position at the accounting date the Trustees are of the opinion that the current assets of the Charity/Company are sufficient to enable it to maintain, its present level of operations.

The Charity's policy is to maintain investments designed to support medium and long-term aims. In the medium term the Aldermore fixed term account is designed to provide a holding account, with a slightly higher interest rate. The Instant Access account is used to support the Lloyds Bank current account with any expenditures that fall within the allowed remit of the policy on restricted funds. These restricted funds can only be used for capital expenditures. The funds in the Lloyds current account are used for the basic day-to-day running costs, insurances, new equipment, staff salaries and wages, utilities and maintenance. The HSBC current account has been retained as this is used to collect Direct Debit payments for memberships and fees.

The Lloyds account is also used to provide charitable support to individuals in need, for training, accommodation, entrance fees and travel using assistance and bursary payments. Any small grants are placed into this account for such uses as those given above.

The performance of funds and accounts are monitored at monthly Board Meetings using written reports that are prepared for the Trustees by the Company Secretary and the Centre Administrator. Valuations of the long-term investments, are reported to the Board by the Secretary at every Board Meeting. The Trustees are of the opinion that returns in all the Charity's funds and accounts are fulfilling their required function and are satisfactorily in line with their expectations within the current investment climate.

Risk Statement

The trustees have continued working on the process of identifying and reviewing the major risks which the Company/Charity faces on a regular basis. The opening of new facilities for fitness in the district, continue to impact upon fitness revenues, as does the current general national economic situation. The Board believe that its reserves at the current level, combined with the continual monitoring process of the controls and reviews of investments that they have in place over the key financial systems, provide sufficient resources to maintain control of this development and other adverse conditions.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Report of the trustees (incorporating the directors' report) for the year ended 31 July 2025

Statement of trustees' responsibilities

The trustees (who are also directors of Forest of Dean Gymnastics Club for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

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 these financial statements, the trustees are required to:

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 which 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.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

On behalf of the board

C Hammersley

Secretary

Forest of Dean Gymnastics Club (A company limited by guarantee)

Independent examiner's report to the trustees on the unaudited financial statements of Forest of Dean Gymnastics Club.

I report on the accounts of Forest of Dean Gymnastics Club for the year ended 31 July 2025 set out on pages 2 to 17.

Respective responsibilities of trustees and independent examiner

The charity's trustees (who are also the directors of the company for purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under part 16 of the Charities Act 2006 and that an independent examination is needed. It is my responsibility to examine the accounts under section145 of the Charities Act 2011 ('the 2011 Act') to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5) (b) of 2011 the Act; and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

...........................................................

Oversby & Company

Independent examiner

Unit 1C Crucible Close Coleford Gloucestershire GL16 8RE

Forest of Dean Gymnastics Club

(A company limited by guarantee)

Statement of financial activities (incorporating the income and expenditure account)

For the year ended 31 July 2025

Notes
Unrestricted
funds
£
Restricted
funds
£
Incoming resources
Incoming resources from generating funds:
Voluntary income
2
2,816
-
Activities for generating funds
3
287,836
-
Investment income
4
5,946
-
Incoming resources from charitable activities
5
7,500
-
Total incoming resources
304,098
-
Resources expended
Opening stock
2,230
-
Purchases
8,768
-
Closing stock
(2,921)
-
Wages and Associated Costs
7
184,015
-
Establishment costs
38,724
-
Accountancy fees
1,600
-
Other office expenses
2,403
-
Depreciation and impairment
20,109
17,017
Total resources expended
254,928
17,017
Net incoming/(outgoing) resources
before transfers
49,170
(17,017)
Transfers between funds
(17,017)
17,017
Net movement in funds/Net
income for the year
32,153
-
Net incoming/(outgoing) resources for the year /
Net income/(expense) for the year
32,153
-
Total funds brought forward
113,065
519,727
Total funds carried forward
145,218
519,727		 2025
Total
£
2,816
287,836
5,946
7,500
304,098
2,230
8,768
(2,921)
184,015
38,724
1,600
2,403
37,126
271,945
32,153
-
32,153
32,153
632,792
664,945		 2024
Total
£
1,233
237,252
5,195
-
243,680
2,690
7,295
(2,230)
157,983
37,233
-
1,146
33,770
237,887
5,793
-
5,793
5,793
626,998
632,791

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 12 to 17 form an integral part of these financial statements.

Forest of Dean Gymnastics Club

(A company limited by guarantee)

Balance sheet as at 31 July 2025

Balance sheet
as at 31 July 2025
2025 2024
Notes £ £ £
Un Resticted Restricted Total Funds Total Funds
£ £ £ £
Tangible assets 9 113,952 375,427 489,379 463,148
Current assets
Stocks 2,921 - 2,921 2,230
Debtors 10 268 - 268 573
Cash at bank and in hand 32,929 144,300 177,229 170,874
36,118 144,300 180,418 173,677
Creditors: amounts falling
Amounts falling due within 1 Year 12 (4,855) - (4,855) (4,034)
Net current assets 31,263 144,300 175,564 169,643
Net assets 145,215 519,727 664,942 632,791
Funds 12
Restricted income funds 519,727 519,725
Unrestricted income funds 145,218 113,065
Total funds 664,942 632,792

The Balance Sheet continues on the following page.

The notes on pages 12 to 17 form an integral part of these financial statements.

Forest of Dean Gymnastics Club (A company limited by guarantee)

The notes on pages 12 to 17 form an integral part of these financial statements.

Forest of Dean Gymnastics Club (A company limited by guarantee)

The notes on pages 12 to 17 form an integral part of these financial statements.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Balance sheet (continued)

Trustees statements required by the Companies Act 2006 for the year ended 31 July 2025

In approving these financial statements as trustees of the company we hereby confirm:

(a) that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 ;

(b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31 July 2025.

(c) that we acknowledge our responsibilities for:

(1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006, and

(2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies .

The financial statements were approved by the board on and signed on its behalf by

Christopher Hammersley (Secretary) Director

The notes on pages 12 to 17 form an integral part of these financial statements.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements for the year ended 31 July 2025

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements of the charitable company, which is a public benefit entity under FRS102, have bee prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities Statement of Recomended Praticies applicable to charities preparing their accounts in accordance with the Finacial Reporting Standard applicble 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 Companies Act 2006. The financial statements have been prepared under historical cost convention.

1.2. Cashflow

The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.

1.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from the charity shop is included in the year in which it is receivable.

Income from investments is included in the year in which it is receivable.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements

for the year ended 31 July 2025

1.4. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

1.5. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Leasehold properties - Straight line over the life of the lease
Plant and machinery - 15% Reducing Balance
Fixtures, fittings and equipment - 15% Reducing Balance

1.6. Stock

Stock is valued at the lower of cost and net realisable value.

2. Voluntary income

Voluntary income
Unrestricted 2025 2024
funds Total Total
£ £ £
Gifts 2,816 2,816 1,233
2,816 2,816 1,233

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements for the year ended 31 July 2025

3.
Activities for generating funds
Unrestricted
funds
£
Fundraising
13,984
Gymnastics Fees
223,260
Competition Fees
9,542
Fitzone Income
14,902
Hire of Gymnasium
10,631
Sale of Goods
14,263
Sundry Income
1,254
287,836
4.
Investment income
Unrestricted
funds
Bank interest receivable
£
5,946
5,946
5.
Incoming resources from charitable activities
Unrestricted
funds
Grants
£
7,500
7,500
6.
Net incoming resources for the year
Net incoming resources is stated after charging:
Depreciation and other amounts written off tangible fixed assets		 2025
2024
Total
£
Total
£
13,984
22,822
223,260
170,747
9,542
4,433
14,902
17,092
10,631
8,227
14,263
13,501
1,254
430
287,836
237,252
2025
2024
Total
Total
£
5,946
£
5,195
5,946
5,195
2025
2024
Total
Total
£
7,500
£
-
7,500
-
2025
2024
£
£
37,127
33,770

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements for the year ended 31 July 2025

7. Employees

Employment costs
Wages and salaries
Other costs
No employee received emoluments of more than £60,000 (2024 : None).
Number of employees		 2025
£
123,476
60,539
184,015
20		 2024
£
114,208
43,775
157,983
20

8. Taxation

The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.

9.

Tangible fixed assets
Cost
At 1 August 2024
Additions
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book values
At 31 July 2025
At 31 July 2024		 Long
leasehold
Plant and
Fixtures,
fittings and
property
£
machinery
£
equipment
£
Total
£
823,524
393,879
146,882
1,364,285
27,326
-
23,839
51,165
850,850
393,879
170,721
1,415,450
458,406
334,087
96,451
888,944
17,017
8,969
11,141
37,127
475,423
343,056
107,592
926,071
375,427
50,823
63,129
489,379
365,118
59,792
50,431
475,341		 Long
leasehold
Plant and
Fixtures,
fittings and
property
£
machinery
£
equipment
£
Total
£
823,524
393,879
146,882
1,364,285
27,326
-
23,839
51,165
850,850
393,879
170,721
1,415,450
458,406
334,087
96,451
888,944
17,017
8,969
11,141
37,127
475,423
343,056
107,592
926,071
375,427
50,823
63,129
489,379
365,118
59,792
50,431
475,341
888,944
37,127
926,071
489,379
475,341

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements for the year ended 31 July 2025

10. Debtors

Trade debtors
11.
Creditors: amounts falling due
within one year
Trade creditors
Other taxes and social security
Accruals and deferred income		 2025
£
268
2025
£
1,655
1,600
1,600
4,855		 2024
£
573
2024
£
834
1,600
1,600
4,034

12. Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 31 July 2025 as represented by:
Tangible fixed assets 113,952 375,427 489,379
Investment assets 32,929 144,300 177,229
Current assets 3,189 - 3,189
Current liabilities (4,855) - (4,855)
145,215 519,727 664,942
13. Unrestricted funds At At
1st August Incoming Outgoing 31st July
2024 resources resources Transfers 2025
£ £ £ £ £
Unrestricted 113,065 304,098 (254,928) (17,017) 145,218

Purposes of unrestricted funds

Funds are used in the provision of the services offered by the Charity.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Notes to financial statements

for the year ended 31 July 2025

14. Restricted funds At At
1st August Outgoing 31st July
2024 resources Transfers 2025
£ £ £ £
Restricted Funds 519,727 (17,017) 17,017 519,727

Purposes of restricted funds

Costs restricted to the maintenance of the building in accordance with the grant funding application and the funds released from that fund. They are not to be used for the running costs of the operation of the Charity.

15. Company limited by guarantee

Forest of Dean Gymnastics Club is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Forest of Dean Gymnastics Club

(A company limited by guarantee)

The following pages do not form part of the statutory accounts.

Forest of Dean Gymnastics Club (A company limited by guarantee)

Detailed statement of financial activities

For the year ended 31 July 2025

2025 2024
£ £ £ £
Incoming resources
Incoming resources from generating funds:
Voluntary income
Gifts 2,816 1,233
2,816 1,233
Activities for generating funds
Fundraising 13,984 22,822
Gymnastics Fees 223,260 170,747
Competition Fees 9,542 4,433
Fitzone Income 14,902 17,092
Hire of Gymnasium 10,631 8,227
Sale of Goods 14,263 13,501
Sundry Income 1,254 430
287,836 237,252
Investment income
Bank interest receivable 5,946 5,195
5,946 5,195
Total incoming resources from generating funds 296,598 243,680
Incoming resources from charitable activities
Grants 7,500 -
7,500 -
Total incoming resources 304,098 243,680
Resources expended
Costs of generating funds:

Forest of Dean Gymnastics Club (A company limited by guarantee)

Detailed statement of financial activities

For the year ended 31 July 2025

Activity 1
Activity 1 - Opening stock
Activity 1 - Purchases
Activity 1 - Closing stock
Wages
Courses & Staff Training
Rent & Water Rates
Light & heat
Insurance
Telephone
Printing Postage and Stationery
Computer Software
Sundries
BAGA Subscriptions
Repairs & Renewals, Inc Maitenance Agreements.
Bank Charges
Depreciation & impairment
Support costs
Support - Staff - Other
Support - Staff Travel
Total cost of generating voluntary income
Fundraising trading:
cost of goods sold and other costs
Total costs of generating funds		 2,230
8,768
(2,921)
123,476
1,539
2,190
8,185
1,889
1,458
1,545
3,679
2,574
8,877
8,327
2,403
37,126
59,000
-		 211,345
59,000
270,345
270,345		 2,690
7,295
(2,230)
114,208
-
2,322
9,172
3,503
980
4,050
2,376
1,610
3,315
9,905
1,145
33,770
41,371
2,404		 194,111
43,775
237,886
237,886

Forest of Dean Gymnastics Club (A company limited by guarantee)

Detailed statement of financial activities

Detailed statement of financial activities
For the year ended 31 July 2025
2025 2024
£ £
Charitable activities
Activities undertaken directly
-
Net incoming/(outgoing) resources for the year 33,753 5,794