Registered number: 03306926 Charity number: 1062939 THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financlal Activltles Balance Sheat Notes to the Flnanclal Statements 10-18
THAMES VALLEY GYMNASTICS LIMITED IA Company Limltèd by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees J Harris, Director A Horne, Director R J Newton, Director Company registered number 03306926 Charlty reglstèred number 1062939 Règ5stered offlce Holmelea, Sonning Lane, Sonning, Berkshire, RG4 6ST Company secretary R J Newton Accountants Nortons Assurance Limited, Second Floor, NOW Building, Thames Valley Park, Reading, Berkshire, RG6 1 RB Bankers Natwest Bank, Unit L11, The Oracle Shopping Centre, Reading, Berkshire. RG12AG
THAMES VALLEY GYIIINASTICS LIMITED (A Company Limlted by Guaranteel TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the company for the period from 1 April 2024 to 31 March 2025. The Charity also trades under the name Thames Valley Gymnastics Club. Objectives and Activities a. Policies and objectives The charity's objectives are to advance the education of school pupils by organising or providing or assisting in the organisation and provision of a facility or facilits'es together with the direct or indirect provision of training and coaching which will enable and encourage such pupils to undertake gymnastics to assist in ensuring that due atlention is given to the physical education and development of such pupils, as well as to the developmenl and occupation of their minds with a view to furthering these objectives. b. Main activities undertaken to furthor the charity's purposes for the publlc benefit The charity's Trustees have complied wth their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. This guidance is contained in "Charities and Public Benefit" published by the Charity Commission. The company promotes public benefit locally and to the wider community in a number of ways and in particular.. Provides a dedicated gymnastics facility and specialist gymnastics equipmenl in an area where there is no other public access to gymnastics training opportunities. Provides training for its staff as part of their conlinuing professional development. Provides a facility for early years learning of physical skills in a safe and controlled environment. Makes its premises available to the local community for gymnastics coaching, physical exercise, ballet, dance classes and as a venue for meetings. Provides financial support and bursaries to enable children to continue their participation in the sport in the event of family and financial difficulties and provides grants to enable children with potential to train and compete at higher levels in the sport. Provides, without charge, governan and welfare officer support services to gymnastics organisations operaling in the Thames Valley area. c. Volunteers The Charity has been supported by willing volunteers in meeting its objectives and adminislralion activities of the Charity and the trustees would like to take this opportunity to say how much they appreciate their continuing and valuable support. The trustees consider no reliable value can be placed on cost of volunteers so have not included it within these accounts.
THAMES VALLEY GYMNASTICS LIMITED IA Company Llmited by Guarantee) TRUSTEES, REPORT (continued FOR THE YEAR ENDED 31 IVIARCH 2025 Achievemenls and performance a. Review of activities The gymnasium operated normally during the year, providing the requested amount of serviced hours to users. Flnanclal review a. Golng concern The financial performance for the year was satisfactory and the company's financial reserves have increased accordingly. The Charity has adequale reserves and., on this basis the financial slatements have been prepared on a going concern basis. b. Resèrves policy The Members have examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricled funds not committed or invested in tangible fixed assets held by the Charity should be approximately 12 months of the expenditure. General funds at the year end amounted to £131,490 <2004: £112.627), which amount is more than sufficient to meet the working capilal requirements of the Ch8rity and the Trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. Income from Room Hire remains at a constant level, resulting in a satisfactory surplus for the year of £5,948 (2024. £6,S39)
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management a. Constitution The Charily is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 January 1997. The Company is constiluled under a Memorandum of Association dated 24 January 1997 and was registered as a Charily, number 1062939, on 24 January 1997. The company's Memorandum and Articles of Association were amended by special resolution on 4 November 1998 and 4 December 1999. b. Method of appolntment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The directors of the Company are also charity trustees for the purposes of charity law and under the Company's Articles are known as members. Under the requirements of the Memorandum and Articles of Association, the Trustees are required to retire from office at the Annual General Meeling, however any Trustee may stand for re- election. Under the Memorandum and Articles of Association, any person may stand for election as a Trustee unless that person has not attained Ihe age of 18 or has been disqualified from acting under the provisions of Article 30 of the Article5 of Association. The Trustees may, by ordinary resolution, appoint a person to act as Trustee to fill a vacancy or as an additional Trustee. A Trustee so appointed shall hold office until the following Annual General Meeting. c. Policies adopted for the Inductlon and training of Trustees Trustees Directors generally have a background in education, charity administration andlor gymnastics as a parent or a coach. The Trustee induction programme includes familiarisation with the gymnasium and its equipment. Training for Trustees for their duties as trustee5 of a charity, is made available to all Trustee Directors. Trustees are selected because of their relevant skills for the company's activities. d. Principal activities The Charity provides and maintains a fully serVid gymnastics facility together with specialist gymnastics equipment to enable the provision of structured programmes of gymnastics education and coaching for children through from infancy to adulthood. Funds are made available to enable continued participation in cases of financial difficulty and children with potential are offered additional hours of tuition together with financial support to enable them to train and compete at higher levels in the sport. Members, liability The Members of the Charity guarantee to contribute an amount not exedIng £10 to the assets of the Charity in the event of winding up.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Trustees. responsibilities statement The Trustees {who are also directors of Thames Valley Gymnastics Limited for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial stalements unless they are satisfied that they 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.. select suiiable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP; make judgments and accounting 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 operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable thern to ensure that the financial statements comply wilh 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. This report was approved by the Trustees, on />. and signed on their behalf by: R J Newton, Director
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examiner's Report to the Trustees of Thames Valley Gymnastics Limited (the 'company') I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2025. This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Responsibilities and Basis of Report As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 {'the 2011 Acl'>. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b} of the 2011 Act. Independent Examiner's Statement I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 I have no concerns and have come across no other matters in connection with the examination lo which attention should be dra n in this report in order to enable a proper understanding of the accounts to be reached. /& /* 20ZS- Signed- Dated: Anthony Campbell FCA Nortons Assurance Limited Second Floor NOW Building Thames Valley Park Reading Berkshire RG6 1RB
THAMES VALLEY GYlkqNASTICS LIMITED IA Company Limited by Guarantee STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total Unrestricted funds funds 2025 2024 Note Income from: Charitable activities Investments 57,665 2,180 57,665 2,180 57,217 1,872 Total income 59,845 59.845 59, 089 Expendlture on: Charitable activities.. Direct costs Support costs Governance 20,708 31,779 1,410 20,708 31,779 1,410 19,840 30,208 2,102 Total expendituro 53,897 53,897 52,150 N6t Income before other recognlsed galns and losses Net movement in funds 5,948 5,948 5,948 5,948 6,939 6,939 Reconclllatlon of funds: Total funds brought forward 506,188 506,1 B8 499,249 512,136 512,q36 506, 788 Total funds carrled forward The notes on pages 10 to 18 form part of these financial statements.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 03306926 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 380,646 393,561 12 594 132,306 500 116,407 132,900 116,907 Creditors: amounts falling due wilhin one year 13 (1,410) (4, 280) Net current assots 131,490 112,627 Net assets 512.136 5Q6, 188 Charity Funds Unrestricted funds 14 512,136 506, 188 Total funds 512,136 506, 188 The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The Trustees consider that the company is entitled to exempts'on from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ('the AcV'} and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and were signed on Iheir behalf by: R J Newton, Director Date: The notes on page¥ to 18 form part of these financial statements.
THAMES VALLEY GYIVINASTICS LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting Policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance wilh Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2015> - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Thames Valley Gymnastics Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hislorical cost or transaction value unless otheNise staled in the relevant accounting policy. The functional and presentational currency of the financial statements is GBP and these are rounded to the nearest £. 1.2 Company status The Charity is a company limited by guarantee. The members of the Company are the Trustees named on page 1. In the event of the Charity being wound up. the liabilily in respect of the guarantee is limited to £10 per member of the Charity. 1.3 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefi't from the se of Ihe charity of the item is probable and that economic benefit can be measured reliably In accordance with the Charities SORP (FRS 102). the general volunteer time is not recognised and refer to the Trustees, Report for more information about their conlribution. On receipt, donaled professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expenditure in the pericNJ of receipt. Grant income is recognised in the period in which it is receivable.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIARCH 2025 Accounting Pollcies (cont5nued> 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlemenl and the amount of the obligation can be measured reliably Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs aT7d shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support cosls which are not attributable to a single activily are apportioned beiween those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Governance costs are those incurred in connection with administration of the company and complianGe with Gonstitutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. 1.5 Tanglble flxed assets and depreclatlon A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate Ihat the carrying value of any fixed asset may not be recoverable. Shortfalls between Ihe carrying value of fixed assets and their recoverable amounts are re¢ognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporaling Income and Expenditure Account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Long-term leasehold property Plant and machinery Straight line over the term of the lease 200/0 Straight line 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company. Ihis is normally upon notification of the interest paid or payable by the Bank. 1.7 DebtorJ Trade and other debtors are recognised at the settlement amounl after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 4.8 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting Policies (continued 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a pasl event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised 2t the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 1.10 Flnanclal Instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial inslruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.11 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been Set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Income from charltable activities Unrestrlcted funds 2025 Total Unrestricted funds funds 2025 2024 Room Hire 57,665 57,665 57,217 Total 2024 57.217 57,217
THAMES VALLEY GYMNASTICS LINIITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestricted funds 2025 Total Unrestricted funds funds 2025 2024 Bank Inierest Received 2,180 2,180 1,872 Total 2024 1,872 1, 872 Dlract costs Total 2025 Total 2024 Room Hlre Sponsorships Wages and salaries 500 20,208 500 20,208 40Q 19,440 20,708 20,708 19,840 Total 2024 19,84Q 19,840 Support costs Total 2025 Total 2024 Room Hire Property Expenses Administration Expenses Depreciation 13.088 5,776 12,915 13,088 5,776 12,915 14,223 3,070 12.915 31,779 31,779 30,208 Total 2024 30,208 30,208 During the year ended 31 March 2025, the company incurred the following Governance costs.. £NI L (2024 - £NIL) included within the table above in respect of Room hire.
THAMES VALLEY GYMNASTICS LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIARCH 2025 Governance costs Unrestricted funds 2025 Total Unreslricted funds funds 2025 2024 Independent Examination Fees Consultant's Fees 1,410 1,410 1,320 782 1,410 1,410 2,102 Analysls of Expendlture by expenditure type Staff costs Depreciation Other costs 2025 2025 2025 Total 2025 Total 2024 Room Hire Expenditure on governance 20.208 12,915 19,364 1,410 52,487 1,410 50,048 2,102 20,208 12,915 20,774 53,897 52,150 Total 2024 19,440 12,915 19,795 52,150 Net Incomel(expendlture) This is ststed after charging,. 2025 2024 Depreciation of iangible fixed assets: owned by Ihe charity 12,915 12,915 During the year, no Trustees reiVed any remuneration (2024 - £NIL). During the year, no Trustees received any benefits in kind (2024 - £NIL). During the year. no Trustees reiVed any reimbursement of expenses (2024 - £NIL). Independent Examlnatlon The Independent Examinerfs remuneration amounts to a fee of £1.320 (2023" £1,200).
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Staff costs staff costs were as follows.. 2025 2024 Wages and salaries 20,208 19,440 The average number of persons empkiyed by the company during Ihe year was as follows.. 2025 No. 2024 No. Employee No employee received remuneration amounting to more than £60,000 in either year. 11. Tanglble fixed assets Long-term leasehold Plant and property machlnery Total Cost At 1 April 2024 and 31 March 2025 648,751 62,088 710,839 Dèpreciation At 1 April 2024 Charge for the year 255,190 12,915 62,088 317,278 12,915 At 31 March 2025 268,105 62,088 330,193 Net book value At 31 March 2025 380,646 380,646 At 31 March 2024 393,561 393,561 The bank has a floating charge over the property and fixed assets of the charity.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Debtors 2025 2024 other debtors Prepayments and accrued income 594 492 594 500 13. Credltors: Amounts falling due wlthln one year 2025 2024 Accruals and deferred income 1,410 4,280 14. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure Designated funds Designated Funds - all funds 393,561 {12,915) 380,646 General funds General Funds- all funds 112,627 59,845 140,982) 131,490 Total Unrestricted funds 506,188 59,845 (53,897) 512,136 Total of funds 506,188 59,845 (53,897) 512,136
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds (contlnued) statement of funds - prior year Balance al 31 March 2024 Balance aÉ l Apnl 2023 Transfets in/ouf Income Expenditur8 Designated Funds - all funds General Funds - all funds 283,91q (12,915) 122,565 393, 561 215.338 59,089 (39,235) (122, 565) 112,627 Total of funds 499.249 59.089 (52, 150) 506, 188 Summary of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expendlture Designated funds General funds 393,561 112,627 380,646 131,490 59,845 (40,9821 506,188 59,845 {53,897 512,136 Summary of funds - prior year Balance al 31 March 2024 Balance at l Apnl 2023 Transfers in/oul Income Expenditure Designated funds General funds 283,glq 215,338 (12,915) 122, 565 (39,235) (122,565) 393, 561 112,627 59,089 499.249 59.089 {52, 150) 506, 188 Designated funds are used to purchase assets and equipment, and the use of these assets, in relation to the gymnasium.
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3q MARCH 2025 15. Analysls of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 380,646 132,900 11,410) 380,646 132,900 (1,410) 512,136 512,136 Analysis of net assets between funds - prior year Unrestricled funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 393,561 116,907 {4, 280) 393,561 116,907 (4,280) 506, 188 506, 188 q6. Related party transactions During the year the Charity paid S Newton an amount of £20,208 (2024.. £19,440) for the provision of management services. This amount is included in the wages as disclosed in note 10 and has been approved by the truslees. S Newton was also reimbursed expenses of £1,125 (2024.. £1,330) in respect of maintenance and office supplies. There was £nil (2024: £nil) owed to S Newton at the year end. S Newton is a relative of Mr R J Newton, a trustee of the Charity.