2025-03-31-accounts

Registered number: 03779000 Charity number: 1080223

Milton Keynes Gymnastics Ltd UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31/03/2025

Prepared By:

GPG (Milton Keynes) Ltd Accountants and business advisers GPG House 8 Walker Avenue Milton Keynes Bucks MK12 5TW

Milton Keynes Gymnastics Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2025

TRUSTEES

Garry Winder Deborah Winder Sean Mcdermott N T Atkinson M Johnston M French Ms J A Doyle

SECRETARY

Garry Winder

REGISTERED OFFICE

35 Orchard Way Cranfield Bedford Bucks MK43 0HU

COMPANY NUMBER

03779000

CHARITY NUMBER

1080223

ACCOUNTANTS

GPG (Milton Keynes) Ltd Accountants and business advisers GPG House 8 Walker Avenue Milton Keynes Bucks MK12 5TW

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Milton Keynes Gymnastics Ltd

ACCOUNTS

FOR THE YEAR ENDED 31/03/2025

CONTENTS

	Page
Report of the Trustees	3
Independent Examiner's Statement	5
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Accounts	9 to 14
Detailed Statement of Financial Activities	13

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Milton Keynes Gymnastics Ltd

FOR THE YEAR ENDED 31/03/2025

TRUSTEES' REPORT

The trustees present their report and accounts for the year ended 31/03/2025

PRINCIPAL ACTIVITIES

The principal activity of the charity in the year under review was In accordance with the Charity Commissions Guidance on public benefit, the charitable company was established to provide in the interests of social welfare, facilities for recreation to members of the public at large, particularly children, with the object of improving the conditions of life for the persons for whom the facilities are primarily intended; to provided gymnastic facilities to the Milton Keynes area and to attend gymnastic meetings both at home and abroad. .

STRUCTURE GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, the Memorandum and Articles of Association dated 27/05/1999, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

RESERVES POLICY

The Charity has two Restricted Reserves to deal with unexpected calls on Charity Reserves. The first reserve is for upkeep of the current aging building and to deal with dilapidations when the Charity leaves the current building. The Charity has a full repairing lease and can be called upon at any time to replace very expensive equipment such as heating boilers and plant. The Current Building Reserve stands at £100,000

The building of the new gymnastic centre continues to be delayed. The Community Trust obtained the land for the new build and planning permission in December 2021 but there has been no progress since then. Covid and now the Cost of Living Crisis has put the new build on hold. The Community Foundation have confirmed that they are committed to the new build but that other priorities for them has meant the project has been seriously delayed.

The “New Building” reserve now stands at £200,000.

ANNUAL TRUSTEE REPORT

There continues to be a challenging environment. The main issues has been repairs and maintenance of the building On the Lease Renewal the Landlords have significantly increased the rent and we continue to absorb increasing costs above inflation, including staff costs and energy.

Despite these pressures the Charity continued to support vulnerable and children with special needs with sessions that are subsidised. The Charity also subsidises schools use and Home educators. There is also a system in place to give reduced fees to those children from poorer backgrounds. The total invested in support to less able children was in excess of £50,000 again in the year.

The charity has tried to meet these increasing demands by increasing the number and type of classes and the fees that parents pay. The Charity remains the biggest provider of gymnastics in the South Region and continues to support excellence. The Elite gymnastics is heavily subsidised by the Charity. The Charity has produced a world champion and numerous International, British, Regional and County Champions in Tumbling, Men's Artistic, and Woman's Artistic. Investment in excellence and the assistance provided to those who would otherwise be unable to afford the subscriptions has added to challenging financial background. The Management Team have carried out restructuring of classes and sought to increase the numbers being coached to increase the income from Subscriptions.

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Milton Keynes Gymnastics Ltd

FOR THE YEAR ENDED 31/03/2025

TRUSTEES' REPORT

The Charity continues to face some tough times over the next few years and because the building has almost reached capacity the scope for further growth is limited. It is probable that the support for poorer children and special needs etc will need to be cut back, and large rises in fees will have to be passed on to parents to meet the increasing expenditure.

The Charity would once again like to thank all the Trustees who give of their time freely to make the Charity a success and in particular the Management team and all the coaches, without whom the children would not benefit from the sport.

The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.

This report was approved by the Board of Trustees on 18/08/2025

G A Winder Trustee

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Milton Keynes Gymnastics Ltd

INDEPENDENT EXAMINER'S STATEMENT

FOR THE YEAR ENDED 31 March 2024

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF MILTON KEYNES GYMNASTICS LTD

I report on the accounts of the company for the year ended 31/03/2025 .

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

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, J 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 201 l Act.

BASIS OF INDEPENDENT EXAMINERS STATEMENT

My examination was carried out in accordance with 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 EXAMINERS STATEMENT

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

1. 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.

................................................... GPG MK LTD Date:

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Milton Keynes Gymnastics Ltd

INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 31 March 2024

UNIT 8 WALKER AVENUE

GPG (Milton Keynes) Ltd Accountants and business advisers GPG House 8 Walker Avenue Milton Keynes Bucks MK12 5TW 01908225544

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Milton Keynes Gymnastics Ltd

Statement of Financial Activities for the year ended 31/03/2025

Income Income from generated funds Other trading activities Income from charitable activities Total Income and endowments Expenses Costs of generating funds Expenditure on Raised funds Expenditure on Charitable activities Total Expenses Net gains on investments Net Income Gains/(losses) on revaluation of fixed assests Net movement in funds: Net income for the year Total funds brought forward Net funds carried forward	Unrestricted funds £ 99,448 778,060 877,508 440,148 426,250 866,398 11,110 11,110 544,092 555,202	Restricted funds £ - - - - - - - - - -	2025 Total £ 99,448 778,060 877,508 440,148 426,250 866,398 11,110 11,110 544,092 555,202	2024 Total £ - 811,000
				811,000
				73,086 726,448
				799,534
				11,466
				11,466 532,626
				544,092

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

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Milton Keynes Gymnastics Ltd

BALANCE SHEET AT 31/03/2025 Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Stock Debtors (amounts falling due within one year) 7 Cash at bank and in hand CREDITORS: Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Unrestricted funds 10 General fund	7,996 8,072 472,581 488,649 -	2025 £ 66,553 488,649 555,202 555,202 555,202	- 5,784 469,566 475,350 5,378	2024 £ 74,120 469,972
				544,092
				544,092
				544,092

For the year ending 31/03/2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board of trustees on 18/08/2025 and signed on their behalf by

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

Garry Winder Trustee

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Milton Keynes Gymnastics Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/03/2025

1. ACCOUNTING POLICIES

1a. Basis Of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1c. Resources Expended

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.

1d. Allocation And Apportionment Of Costs

All costs relate to the single activity of the charitable company and are recognised accordingly.

1e. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.

1f. Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and Machinery Fixtures and Fittings Equipment

reducing balance 25% reducing balance 15% reducing balance 25%

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Milton Keynes Gymnastics Ltd

1g. Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

1h. Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1i. Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

2. DIRECTORS AND EMPLOYEES

Particulars of employees (including directors) are shown below:

Employee costs during the year amounted to: Wages and salaries Pension costs The average weekly numbers of employees during the year were as follows: Management and administration 3. EMPLOYEES Average number of employees	2025 £ 104,236 21,480 125,716 2025 No. 13 13 2025 No. 13	2024 £ 445,211 15,837
		461,048
		2024 No. 13
		13
		2024 No. 13

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Milton Keynes Gymnastics Ltd

4. PENSION CONTRIBUTIONS Pension contributions	2025 £ 21,480 21,480	2024 £ 15,837
		15,837

5. TANGIBLE FIXED ASSETS

Cost At 01/04/2024 Additions At 31/03/2025 Depreciation For the year At 31/03/2025 Net Book Amounts At 31/03/2025 At 31/03/2024 6. STOCK Stock comprises: Stock 7. DEBTORS Amounts falling due within one year: Trade debtors	Plant and Machinery £ 69,041 - 69,041 17,260 17,260 51,781 69,041	Fixtures and Fittings £ 4,363 14,617 18,980 4,509 4,509 14,471 4,363	Fixtures and Fittings £ 4,363 14,617 18,980 4,509 4,509 14,471 4,363	Equipment £ 716 - 716 415 415 301 716 2025 £ 7,996 7,996 2025 £ 8,072 8,072	Total £ 74,120 14,617
					88,737
					22,184
					22,184
					66,553
					74,120
					2024 £ -
					-
					2024 £ 5,784
					5,784

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Milton Keynes Gymnastics Ltd

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors

2025 £ - -	2024 £ 5,378
	5,378

9. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £, to the company should it be wound up. At 31/03/2025 there were members.

10. UNRESTRICTED FUNDS

General fund	Brought forward £ 544,092 544,092	Incoming resources £ 877,508 877,508	Outgoing resources £ (866,398) (866,398)	Transfers £ - -	Carried forward £ 555,202
					555,202

11. RESTRICTED FUNDS

OLD BUILDING AND DELAPIDATIONS FUND £100,000 NEW BUILDING FUND £200,000	Brought forward £	Incoming resources £	Outgoing resources £	Transfers £	Carried forward £

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Milton Keynes Gymnastics Ltd

Incoming Resources for the year ended 31/03/2025 Incoming resources Incoming resources from generated funds Grants Activities For Generating Funds 1	99,448	2025 £ 99,448 99,448 778,060 877,508	-	2024 £ - - 811,000
				811,000

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Milton Keynes Gymnastics Ltd

Expenses for the year ended 31/03/2025

Expenses Costs of generating funds Costs Of Generating Voluntary Income Purchases Subcontractors Purchases Charitable Activities Resources Expended Charitable Activities 11 Heat and light (electricity) Rent Cleaning Repairs and renewals General wages Pension contributions Training Computer costs Accountancy fees Professional fees Insurance Stationery & office supplies Telephone Subscriptions Bank charges Sundry expenses Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of equipment	2025 £ 24,735 414,141 1,272 440,148 440,148 16,817 73,161 60,360 23,195 63,531 104,236 21,480 9,056 1,070 5,473 4,152 5,736 1,779 10,496 180 3,344 - 17,260 4,509 415 426,250 866,398	2024 £ 27,575 9,953 35,558
		73,086
		73,086 4,710 72,080 47,482 23,673 49,024 445,211 15,837 13,658 6,346 1,305 4,678 5,487 1,747 9,146 187 3,069 2,070 19,045 553 1,140
		726,448
		799,534

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