Registered Company Number: 03348600 (England and Wales) Registered Charity Number: 1067061
Swindon School of Gymnastics
Unaudited Financial Statements
for the 15 months ending 31[st] March 2025
Swindon School of Gymnastics
Contents Period Ending 31[st] March 2025
Page No
| 1 - 2 | Report of the Trustees |
|---|---|
| 3 | Independent Examiners Report |
| 4 - 5 | Statement of Financial Activities |
| 5 | Statement of Financial Position |
| 6 - 10 | Notes to the Financial Statements |
| 11 – 12 | Detailed Statement of Financial Activities |
Swindon School of Gymnastics
Report of the Trustees
Period Ending 31[st] March 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 30th December 2023. 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 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit. The principle activity of the company is the advancement of the mental and physical development of young persons through the sport of gymnastics in all its forms recognised by our governing body, British gymnastics.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
It has been an important year in terms of the club’s development and progression, it was a time where we have new staff members, a change in our administration and fees which has improved the running and organisation of the club.
The financial situation of the club appears to be negative with a loss over the year; however, this was expected with a change in the fees system at the end of the year made a large change to our cashflow that will be balanced by the new system. Our member numbers have increased with the addition of more classes and filling all spaces in our current sessions. Again, our running costs increased from 2023, we did our best to account for this and are continuing to make predictions for our 2025 financial budgeting.
Our employed coaching staff have continued to make great progress and in 2024 we also had head of MAG coach, Tom Roberts and preschool and recreational coach, Shannon White join the team. The recreational and competitive gymnasts within the club have made some great achievements and continue to compete in competitions up to a national level.
This club would not run without the team of volunteer coaches and helpers; we are incredibly grateful for all the hard work they continue to put in. There is always more space in our team and happy to help anyone wanting to start their coaching journey at any level or skill.
Fundraising activities
During 2024 a great many fundraising activities took place, our most important being the floor vault trampette competition, club competition and Christmas display which had the best turnout we have ever seen thanks to the work of our fundraising team. All these activities have allowed us to improve our facility and purchase new training equipment.
FINANCIAL REVIEW
Principal funding sources
The charities main source of funds is from fees for the gymnastics classes for children and adults which this year totalled £273,290 (2023: £198,190).
Financial results and reserves policy
At the end of the year the charity has reserves of £101,633 (2023: £122,361) of which £65,881 (2023: £92,736) relates to stocks and assets. All funds are unrestricted funds.
The trustees have examined the charities requirements for reserves in the light of main risks to the charity. The trustees believe that we should continue to grow the reserve funds as running costs continue to climb and continue to aim for 6 months of expenditure.
Funds not committed are invested in interest bearing deposit accounts.
FUTURE PLANS
As we moved into 2025 one of the priorities was our facility, where we will look to make negotiations in our lease and look for a new home for the club. Our other priorities are to expand our coaching team and the qualifications that they hold. Again, we are evaluating trying to evolve how the club operates by looking at taking on a new platform offered by British gymnastics to improve the running and admin of the club.
Page 1
Swindon School of Gymnastics
Report of the Trustees
Period Ending 31[st] March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Swindon School of Gymnastics is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association, and registered with the Charity Commission (Charity Registration Number 1067061).
Recruitment and appointment of new trustees
The trustees may appoint a person who is willing to act to be a trustee of the charity. A trustee appointed during the year shall hold office only until the next annual general meeting of the charity and shall be eligible for election at that meeting.
Risk management
The trustees have a risk management strategy which comprises:
-
An annual review of the risks the charity may face;
-
The establishment of systems and procedures to mitigate those risks identified in the assessment; and
-
The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03348600 (England and Wales)
Registered Charity number
1067061
Registered office
Unit 4 Isis Trading Estate SWINDON Wiltshire SN1 2PG
Trustees
Mrs Wendy Payne Mrs Paula Kujeke Mr Joseph Walker Mr Eli Ridgway
Secretary
Mrs Wendy Payne
Independent Examiner Name Company/Address
Page 2
Swindon School of Gymnastics
Independent Examiners Report Period Ending 31[st] March 2025
Independent examiner's report to the Trustees of Swindon School of Gymnastics ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31[st] March 2025.
Responsibilities and basis of report As the charity's trustees of the Company (and also 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). 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 have completed my examination. I 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 2. the accounts do not accord with those records; or 3. 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 4. 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 (FRS 102)). I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed
Name Address
Date
Page 3
Swindon School of Gymnastics
Statement of Financial Activities
Period Ending 31st March 2025
| Notes | Jan24-Mar25 | 2023 | |
|---|---|---|---|
| Income | £ | £ | |
| Donations and legacies | 3 | 288,776 | 202,829 |
| Other Trading Activities | 4 | 50,197 | 41,083 |
| Investment Income | 5 | 1,197 | 427 |
| Total | 340,170 | 244,339 | |
| Expenditure on | £ | £ | |
| Raising Funds | 100,624 | 53,540 | |
| Charitable Income | |||
| Charitable activities | 234,083 | 152,284 | |
| Other | 26,191 | 18,142 | |
| Total | 260,274 | 223,969 | |
Net Income |
(20,728) | 20,373 | |
| Reconciliation of funds | |||
| Total funds brought forward | 122,361 | ||
| Total funds carried forward | 101,633 |
.
Page 4
Swindon School of Gymnastics
Statement of Financial Activities
Period Ending 31[st] March 2025
| P/E Mar25 | 2023 Unrestricted | ||
|---|---|---|---|
| Unrestricted | funds | ||
| Notes | funds | ||
| Fixed assets | |||
| Tangible assets | 10 | 35,753 | 29,625 |
| Current assets | |||
| Stock | 12 | 7.421 | 3.986 |
| Debtors | 13 | 11,393 | 35,824 |
| Cash at bank | 58,411 | 65,268 | |
| 77,225 | 105,078 | ||
| Creditors | |||
| Amounts falling due within | |||
| one year | 14 | (11,344) | (12.342) |
| Net current assets | 65,881 | 92,736 | |
| Total assets less current | |||
| liabilities | 101,633 | 122,361 | |
| 122, 361 | |||
| Net Assets | 101,633 | 122,361 | |
| Funds | |||
| Unrestricted funds | 101,633 | 122,361 | |
| Total Funds | 101,633 | 122,361 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31sth December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 3[rd] November 2025 and were signed on its behalf by:
Page 5
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31[st] March 2025
1. CHARITY INFORMATION
The charity Is a company limited by guarantee and incorporated In England and Wales, and a registered charity with the Charity Commission in England and Wales.
The registered office address is Unit 4, Isis Trading Estate, Swindon, SN1 2PG.
These financial statements are presented In British Pounds (GBP), which is the company's functional and presentational currency.
2. 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.
Income
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 income: Fee Income is included in full in the statement of Financial Activities when receivable.
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 in these accounts.
Investment income is included when receivable.
Incoming resources for generating funds are accounted for when earned.
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 of the 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 asse ts
Depreciation is provided at the following annual rates. In order to write off each asset over its estimated useful life. Fixtures and fittings - 20% on cost and 10% on cost
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.
Page: 6
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31[st] March 2025
2. ACCOUNTING POLICIES (cont)
Fund accounting
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 of each 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.
| 3 | Donations and Legacies | Jan24- | |
|---|---|---|---|
| Mar25 | 2023 | ||
| £ | £ | ||
| Fees | 273,290 | 198,190 | |
| Donations | 12,196 | 1,096 | |
| Gift Aid | 3,290 | 3,543 | |
| 288,776 | 202,869 | ||
| 4 | Other Trading Activities | Jan24- | |
| Mar25 | 2023 | ||
| £ | £ | ||
| Fundraising events | 20,404 | 18.244 | |
| B G Insurance (within Fees P/E Mar25) | 8,585 | ||
| Sale of Clothing | 6.323 | 4,324 | |
| Summer Camp | 7,251 | 2,570 | |
| Sundry Income | 2,501 | 3,350 | |
| Competition entries | 13,718 | 3,810 | |
| 50,197 | 41,083 | ||
| 5 | Investment Income | Jan24- | |
| Mar25 | 2023 | ||
| £ | £ | ||
| Bank interest received | 1,197 | 427 | |
| . | |||
| 6 | Net Incomes / (Expenditure) | Jan24- | |
| Net Incomes/(expenditure) is stated after charging/(crediting): | Mar25 | 2023 | |
| £ | £ | ||
| Depreciation – owned assets | 9,151 | 3,571 | |
| (Deficit)/surplus on disposal of fixed assets | 0 | 40 |
Page: 7
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31st March 2025
7 Trustees’ Remuneration & Benefits
There were no trustees’ remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 30th December 2023.
Trustees’ expenses
During the period, trustees were reimbursed a total of £24,072 (2023: £7,118) for charity expenses paid privately. These expenses relate to travel, purchase of equipment, stationery, telephone and summer camp expenses. At the start of 2024 the charity’s bank accounts were being transitioned from Barclays Bank to Metro Bank, during this time founding trustees made wage and utility bill payments and were reimbursed once charity funds became reavailable in the bank accounts.
| Jan24- | |||||
|---|---|---|---|---|---|
| 8 | Staff Costs | Mar25 | 2023 | ||
| £ | £ | ||||
| Wages and Salaries | 104,765 | 69,363 | |||
| Average monthly Staff | 5 | 3 | |||
| Jan24- | |||||
| 9 | Independent Examiner Fees | Mar25 | 2023 | ||
| £ | £ | ||||
| Statutory accounts production & external scrutiny | 0 | 3,648 | |||
| 0 | Tangible Fixed Assets | ||||
| Furniture | Computer | ||||
| and | and Office | ||||
| Fittings | Equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 30th December 2023 | 270,128 | 109 | 270,237 | ||
| Additions | 14,188 | 1,089 | 15,277 | ||
| Disposals | - | - | - | ||
| At 31st March 2025 | 284,316 | 1,198 | 285,514 | ||
| Depreciation | |||||
| At 30th December 2023 | 240,600 | 12 | 240612 | ||
| Provided for year | 8,831 | 318 |
9,150 | ||
| At 31st March 2025 | 249,431 | 331 | 249,762 | ||
| Net Book Value | |||||
| At 31st March 2025 | 34,886 | 867 | 35,753 | ||
| At 30th December 2023 | 29,528 | 97 | 29,625 |
10 Tangible Fixed Assets
Page: 8
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31[st] March 2025
| 12 | Stocks |
P/E Mar25 | P/E Mar25 | 2023 | |
|---|---|---|---|---|---|
| £ | £ | ||||
| Stock | 7,421 | 3,986 | |||
| 13 | Debtors: Amount Falling Due within one year | ||||
| P/E Mar25 | 2023 | ||||
| £ | £ | ||||
| Other debtors | 3,290 | 3,543 | |||
| Prepayments and accrued income | 8,103 | 32,281 | |||
| 11,393 | 35,824 | ||||
| 14 | Creditors: amounts falling due within one year | ||||
| P/E Mar25 | 2023 | ||||
| £ | £ | ||||
| Other creditors and accruals | 634 | 1,568 | |||
| Accruals & deferred Income | 10,710 | 10,774 | |||
| 11,344 | 12,342 | ||||
| 15 | Movement in Funds | ||||
| At | Net | At | |||
| 30.12.23 | Movement | 31.03.25 | |||
| Unrestricted Funds |
£ | £ | £ | ||
| General Funds | 122,361 | (20,728) | 101,633 | ||
| Net | Movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | ||||
| Unrestricted | |||||
| Funds | £ | £ | £ | ||
| General Funds | 122,361 | (20,728) | 101,633 |
Page: 9
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31[st] March 2025
Comparatives for movements in funds (cont)
| At 31.12.22 |
Net Movement |
At 30.12.23 |
|
|---|---|---|---|
| Unrestricted Funds |
£ | £ | £ |
| General Funds | 101,988 | 20,373 | 122,361 |
| Incoming | Resources | Movement | |
| resources | expended | ||
| Unrestricted | |||
| Funds | £ | £ | £ |
| General Funds | 340,170 | (360,898) | (20,728) |
16 Related Party Disclosures
There were no related part transactions for the year ended 31 March 2025
Page: 10
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31 L [st] March 2025
Appendix 1 – P&L Comparative
| Account Name | Jan24-Mar25 | 2023 |
|---|---|---|
| ShopSales | £349.94 | |
| Term MembershipFees | £273,998.42 | £198,191.11 |
| Club Competition Spectator Entry | £18,195.63 | |
| Club Tracksuits | £3,847.35 | £4,324.24 |
| Individual Session Fees | £0.00 | |
| Competition EntryFees | £13,718.25 | |
| Adult Session Fees | £0.00 | |
| Leotard Sales | £2,476.00 | |
| FundraisingCafe Sales | £1,192.16 | |
| Fundraising | £666.25 | £18,443.81 |
| Term Fees Refund | -£709.10 | |
| Tracksuit Stock Purchase | -£9,044.38 | |
| Leotard Stock Purchase | -£10,744.73 | -£2,318.68 |
| Competition EntryFee Payment | -£11,118.00 | -£842.60 |
| ShopStock | -£496.05 | |
| Other income | -£19.86 | £3,350.05 |
| Reclaimed expenses | -£27,411.96 | |
| Bank Interest Received | £1,197.26 | £426.50 |
| Badges | £411.00 | |
| Summer Camp | £7,251.00 | £419.65 |
| BirthdayParties | £2,110.00 | |
| Gift Aid Reclamed | £3,290.25 | £3,542.00 |
| BG Insurance | -£19,773.33 | -£6,240.84 |
| Sponsorship/Donations | £12,196.24 | £1,096.30 |
| PAYE | -£88,641.66 | -£69,363.32 |
| Employers' NICs | -£7,485.84 | |
| Pension | -£8,637.30 | |
| Rent,Service Charge,BuildingIns & Rates | -£102,775.84 | -£77,798.69 |
| Heat and lighting | -£26,120.82 | -£14,725.96 |
| Insurance | -£2,737.67 | -£3,423.39 |
| Water | -£1,002.22 | |
| Telephone | -£153.43 | -£2,513.94 |
| Internet | -£799.78 | |
| Printingand stationery | -£1,803.46 | -£4,252.20 |
| Cleaning | -£6,037.45 | -£5,419.51 |
| Postage andpackaging | -£2.60 | |
| Software Subscriptions | -£2,903.91 | -£307.63 |
| Security | -£1,715.88 | |
| Travel | -£302.97 | -£2,061.30 |
Page 11
Swindon School of Gymnastics
Notes to the Financial Statements
Period Ending 31 L [st] March 2025
Appendix 1 – P&L Comparative
| Account Name(cont) | Jan24-Mar25 2023 |
|---|---|
| Advertising | -£373.20 |
| Accountingfees | -£28.00 -£3,354.00 |
| Honorarium Payments | £0.00 -£2,000.00 |
| Staff Training | £0.00 -£5,802.22 |
| DBS Fees | -£195.00 -£1,143.24 |
| Prof fees | -£1,454.40 |
| FundraisingAwards Night | -£753.92 |
| Trophies Badges Medals Stock | -£1,982.50 |
| Fixtures & fittings dep | -£8,831.96 -£3,570.73 |
| Computer Dep | -£318.96 |
| Profit /loss on Sale of Assets | -£40.43 |
| Repairs and maintenance | -£14,574.36 -£3,827.40 |
| Waste Collection | -£677.82 |
| Food Stock | -£1,765.23 |
| PartyRefund | -£175.00 |
| Bank charges | -£59.10 -£415.66 |
| Profit / -Loss | -£20,727.94 £20,371.92 |
Page 12