OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-09-30-accounts

Company registration number 04237068 (England and Wales) Charity registration number 1088122 (England and Wales)

SWALLOWS OF HELSTON GYMNASTICS CLUB

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

SWALLOWS OF HELSTON GYMNASTICS CLUB

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr C A Osborne
Ms D Bowman
Charity number (England and Wales) 1088122
Company number 04237068
Registered office The Gunsmiths
Water Ma Trout
Helston
Cornwall
United Kingdom
TR13 0LW
Independent examiner Thomas Tripp
bk plus Limited
Lakeside Offices
The Old Cttle Market
Coronation Park
Helston
Cornwall
TR13 0SR
Bankers HSBC
17 Boscawen Street
Truro
Cornwall
TR1 2QZ
Solicitors Foot Anstey LLP
1 Poltisco Wharf
Malpas Road
Truro
Cornwall
TR1 1QH

SWALLOWS OF HELSTON GYMNASTICS CLUB

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

SWALLOWS OF HELSTON GYMNASTICS CLUB

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025

The trustees present their annual report and financial statements for the year ended 30 September 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The principal objective of the charity is to provide facilities for young people to undertake gymnastic activities in order to promote their physical education and development.

In setting the aims and objectives the Trustees have given consideration to the Charity Commission's guidance on public benefit and have complied with their duty in section 17 of the Charities Act 2011. All the charitable activities are to offer public access to high quality gymnastics training in West Cornwall. This objective is delivered through various levels from recreational, amateur and advanced level classes. The aim is to allow interested individuals to develop their potential as well as promote their physical well-being. The charity also works closely with schools to promote gymnastics and physical exercise.

Significant activities

The objectives of the charity are delivered through a comprehensive programme of gymnastic training classes covering a multitude of age groups and abilities. Classes are also geared towards gymnastics as a recreational activity as well as a competitive sport.

Volunteers

One thing is still very clear and that is without volunteers (both coaches and Trustees), the charity would have difficulty in delivering a low-cost activity for the community and schools, and our thanks goes to those providing this service. Thanks also goes to those parents that contribute regular financial support by allowing their children to participate.

How our activities deliver Public Benefit

The charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised below, provide benefit to those who train with the club and the wider community.

Gymnastic Activities

The charity operates a number of different classes in order to give access to young people of all ages and abilities. All classes are fully inclusive with additional coaching support available to meet individual member’s needs.

Toddlers classes - these are held as a drop in session for those aged up to 3 years old. The sessions are not structured and allow those attending free play to engage with the sport; parents are encouraged to join in. These sessions then feed into the pre school classes when they are 3 years old.

Recreational classes - these are held for both boys and girls of school age with a wide range of abilities and they combine fitness and fun. They are held to encourage children to attend and develop their basic gymnastic skills. There is no pressure of competition although the charity rewards the children's improvements with Proficiency badges and awards. The sessions provide a good grounding for other sporting activities. The club holds annual recreational competitions for those children to take part, giving them a focus for their training.

SWALLOWS OF HELSTON GYMNASTICS CLUB

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Competitive - the charity has three levels of competition; Novice, Intermediate and County + level. Those who have gymnastic potential are invited to participate in competitive training which requires a commitment of between 1 and 25 hours per week depending on the level at which they are competing. The charity regularly holds competitions at the gym in Helston but also encourages the gymnasts to take part in competitions throughout the UK. The difficulty that the charity faces is the cost that the families face in their children attending competitions throughout the region and nationally as travel costs can be significant.

Parent training- sessions are offered termly to allow parents to attend sessions with their children to learn the basics of gymnastic coaching and to build an understanding of the sport. Some parents have chosen to become volunteers at the club based on their enjoyment of attending these sessions.

Disability classes - the club's recent Makaton Friendly status and further disability training for staff has allowed the club to offer an inclusion program to all disability members from toddler to adult age, within the current training time table. 1:2:1 sub sized sessions are also available to cater for individual disability needs.

Community Activities

In addition to the gymnastic training for their members, the charity also plays a greater role throughout the local region in order to promote physical health and fitness to members of the public.

Schools - the club has an active role in promoting the charity and its facilities to local schools and to improve relationships with them. The schools programme is designed to deliver the National Curriculum to children of primary school age. The coaches deliver a 6-week National Key Steps programme to the schools either in school or in the Swallows gym. Many rural schools choose to come to the gym where the students are able to benefit from the use of specialised equipment. The programme gives access to qualified coaches to all children including those who might otherwise not be able to benefit. Although the charity charges a fee to the schools to help cover costs, on many occasions these services are provided at a loss to the charity as the Trustees are aware of the additional benefits that it brings which are in line with its objectives.

Achievements and performance

The staff at the gym continue to work hard to improve the safety and experiences of the children (and adults). We were offered some foam pieces from another gym which one of the coaches kindly collected on her day off. This has been used in the bottom of the pit, with our foam then on top. This has provided a deeper, safer landing for the gymnasts.

Summer Fun classes were open to members and non members in school summer holidays. We find this a successful way of providing an introduction, taster session for children. Many come with a friend who already attends. The 'Bring a Friend' sessions have also been very beneficial.

New decking and safer walkway in front of the gym was installed.

The raffle at the annual in house development and recreation competition (December) raised £533.

The annual Halloween Sleepover was, as usual, a huge success!

2025 also saw the following achievements:

SWALLOWS OF HELSTON GYMNASTICS CLUB

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Summary

Despite the number of clubs within the county and available choice for parents of clubs within a 20 minute radius of Helston, the club has continued to sustain its reputation as an excellent facility within the county. There is still a real family atmosphere about the charity which is very pleasing to see and will help recruit and retain new members over the coming years.

FUTURE PLANS

2025/26 will continue to be a challenge in the current financial climate but the trustees are confident that the charity has consolidated its position, and remains an effective business model.

In terms of numbers, the charity maintains its place within the County and is well positioned to remain a strategic centre for gymnastics. This strategic role is vital if the charity is to attract substantial funding for any development or new build. The trustees will continue to look carefully and thoughtfully at the range of activities that the charity provides (both within the gym and in terms of outreach work); new partnerships; marketing and publicity (both within the gym and beyond); grant funding opportunities; and customer care. This last issue continues to be vital as the charity has to provide a quality service for all its young gymnasts their parents and all its other users.

Financial review

Total funds of the charity are £153,620 (2024: £160,331). Unrestricted funds total £152,614 (2024: £159,123) and restricted funds total £1,006 (2024: £1,208).

The net deficit for the year as set out on the Statement of Financial Activities was £-6,711 (2024 net surplus: £20,802).

Reserves policy

It is the trustees' aim to retain sufficient liquid funds to affect the smooth winding down of the charity and settlement of outstanding debts and commitments. To put this into monetary terms the target is that free reserves are maintained at approximately £40,000, being at least one quarter's overheads. This level of reserves should provide enough of a cushion to administer a potential winding down of the charity. This is a minimum and ideally free reserves will accumulate to higher levels.

At 30 September 2025 the free reserves of the charity are £136,693 (2024: £134,261). This is above target and the trustees will continue to make efforts in boost incoming funds and fundraising activities.

Structure, governance and management

The charity is a company limited by guarantee (No: 1088122) and was incorporated on 19 June 2001.

Swallows of Helston Gymnastics Club is a registered charity (No: 1088122). Its objects and powers and other constitutional matters are set out in its Memorandum and Articles of Association. It is run by a Board of Directors who act as Trustees of the Charity.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs S E Bangay (Resigned 30 June 2025) Dr C A Osborne Ms D Bowman

SWALLOWS OF HELSTON GYMNASTICS CLUB

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Recruitment and appointment of trustees

The Memorandum and Articles of Association govern the basics on appointment of trustees and terms of office. Within the charity the following procedures are in place:

a) Trustees must be nominated using the appropriate nomination form SW-No1. The form must be signed by the proposer and prospective trustee, both must be members.

b) Trustees - can be co-opted but should be endorsed at an Executive Meeting before they take office.

c) Trustees are normally sourced from within the membership but may be invited from other institutions such as the Town & County Councillors or organisations that are members of Swallows under their membership rules.

The members of the charity elect trustees of the charity for a term of three years.

Organisational structure

The charity employs a Head Coach and an Administrator to implement and manage the policies of the charity as determined by the Trustees.

Staff have control over the immediate day to day running of the Coaching and gymnastic element as well as cleaning, stationery and purchasing of relevant materials/training courses within a budget. All cheques are signed by two trustees and fiscal matters are monitored by the treasurer.

Emergency situations are managed on a needs basis but usually result in the Head Coach or Administrator telephoning one of the trustees.

Induction and training of trustees

Once elected, trustees receive an induction from the Chairman or nominated trustee. They are given the "Trustees' Manual" to look through which covers all aspects of being a trustee including the "Trustee Terms of Reference" document. They are also invited to comment on the usefulness of the Trustees' manual. In addition they are given a copy of the Charity Commission booklet CC3 "The essential trustee: what you need to know and what you need to do". For the most part trustees are not given a key role until they have settled in.

The trustees' report was approved by the Board of Trustees.

Ms D Bowman

Trustee

5 August 2026

SWALLOWS OF HELSTON GYMNASTICS CLUB

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SWALLOWS OF HELSTON GYMNASTICS CLUB

I report to the trustees on my examination of the financial statements of Swallows Of Helston Gymnastics Club (the charity) for the year ended 30 September 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Thomas Tripp FCCA, ACA

BK Plus Limited Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR United Kingdom 5 August 2026

SWALLOWS OF HELSTON GYMNASTICS CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR THE YEAR ENDED 30 SEPTEMBER 2025 FOR THE YEAR ENDED 30 SEPTEMBER 2025 FOR THE YEAR ENDED 30 SEPTEMBER 2025
Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
250
-
Charitable activities
3
185,517
-
Other trading activities
4
7,551
-
Investments
5
2,404
-
Total income
195,722
-
Expenditure on:
Raising funds
6
1,617
-
Charitable activities
7
200,614
202
Total expenditure
202,231
202
Net income/(expenditure)
(6,509)
(202)
Transfers between
funds
-
-
Net movement in
funds
9
(6,509)
(202)
Reconciliation of funds:
Fund balances at 1 October
2024
159,123
1,208
Fund balances at 30
September 2025
152,614
1,006		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
250
731
-
185,517
170,537
-
7,551
14,902
-
2,404
2,724
-
195,722
188,894
-
1,617
1,699
-
200,816
166,004
389
202,433
167,703
389
(6,711)
21,191
(389)
-
1,000
(1,000)
(6,711)
22,191
(1,389)
160,331
136,932
2,597
153,620
159,123
1,208		 Total
2024
£
731
170,537
14,902
2,724
188,894
1,699
166,393
168,092
20,802
-
20,802
139,529
160,331
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

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

SWALLOWS OF HELSTON GYMNASTICS CLUB

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 16,927 26,070
Current assets
Stocks 14 500 824
Debtors 15 8,266 5,716
Cash at bank and in hand 149,436 155,510
158,202 162,050
Creditors: amounts falling due within 17
one year (18,149) (17,835)
Net current assets 140,053 144,215
Total assets less current liabilities 156,980 170,285
Creditors: amounts falling due after
more than one year 18 (3,360) (9,954)
Net assets 153,620 160,331
The funds of the charity
Restricted income funds 21 1,006 1,208
Unrestricted funds 22 152,614 159,123
153,620 160,331

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 5 August 2026

Ms D Bowman Trustee

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

Charity information

Swallows Of Helston Gymnastics Club is a private company limited by guarantee incorporated in England and Wales. The registered office is The Gunsmiths, Water Ma Trout, Helston, Cornwall, TR13 0LW, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Donation and legacy income consists of small donations and gift aid.

Income from charitable activities consists of training fees, membership fees and competition fees.

Income from other trading activities consists of sale of gymnastic goods, fundraising events, refreshments and hire of the gymnasium.

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

(Continued)

1.5 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.

Costs of generating funds include those items of expenditure directly related to ancillary trading such as goods for resale.

Charitable activity costs include those items of expenditure incurred in delivering the charity's main objective of gymnastic training and coaching. This category also includes support costs such as governance costs, premises expenses and the administrative function.

Support costs have been allocated between management, finance, information technology and governance costs. Governance costs are those items of expenditure incurred in the course of the charity's statutory obligations and include the cost of independent examination and costs linked to the strategic management of the charity.

Support costs are wholly allocated to training activities, being the main charitable activity undertaken by the charity. These costs form part of the overall cost of training activities disclosed under Charitable activities on the face of the Statement of Financial Activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property 20% straight line Gym equipment 10% straight line Gym clothing 33% straight line Office equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 250 731
Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Training
Training 167,747 153,258
Memberships 14,720 12,904
Competitions 3,050 4,375
185,517 170,537

3 Income from charitable activities

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 534 1,134
Shop income 2,298 2,078
Hire of gymnasium 4,719 11,690
Other trading activities 7,551 14,902

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 2,404 2,724

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 1,617 1,699

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

7 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Rent and rates
Insurance
Light and heat
Sundries
Affiliation fees
Competition costs
Training costs
Repairs and service contracts
Travelling and accommodation
Cleaning
Share of support and governance costs (see note 8)
Support
Governance
Analysis by fund
Unrestricted funds
Restricted funds
Support costs allocated to activities
Staff costs
Telephone
Postage and stationery
Bank charges
Bank loan interest
Computer and internet costs
Other interest
Governance costs
Analysed between:
Training		 Training
Training
2025
2024
£
£
110,278
81,881
9,143
9,329
17,207
16,775
1,077
1,038
11,748
9,455
134
47
218
548
5,484
3,636
2,630
2,386
4,702
4,297
141
195
13,073
12,649
175,835
142,236
19,830
19,477
5,151
4,680
200,816
166,393
200,614
166,004
202
389
200,816
166,393
2025
2024
£
£
13,726
12,577
875
1,129
194
176
3,713
3,522
336
495
936
1,578
41
-
5,160
4,680
24,981
24,157
24,981
24,157		 Training
Training
2025
2024
£
£
110,278
81,881
9,143
9,329
17,207
16,775
1,077
1,038
11,748
9,455
134
47
218
548
5,484
3,636
2,630
2,386
4,702
4,297
141
195
13,073
12,649
175,835
142,236
19,830
19,477
5,151
4,680
200,816
166,393
200,614
166,004
202
389
200,816
166,393
2025
2024
£
£
13,726
12,577
875
1,129
194
176
3,713
3,522
336
495
936
1,578
41
-
5,160
4,680
24,981
24,157
24,981
24,157
142,236
19,477
4,680
166,393
166,004
389
166,393
2024
£
12,577
1,129
176
3,522
495
1,578
-
4,680
24,157
24,157

8 Support costs allocated to activities

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

9 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 4,920 4,680
Depreciation of owned tangible fixed assets 9,143 9,329

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the previous year, trustee C Osborne received a cash donation on behalf of the charity of £460, in addition to being transferred £500 to hold as cash from the charity's bank account. £250 of this was spent on charity purchases during the year and £100 was placed back into petty cash, leaving £610 being held with C Osborne and owed to the charity. This is still outstanding at 30 September 2025.

11 Employees

The average monthly number of employees during the year was:

Management and administation
Charitable activities
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2025
Number
1
5
6
2025
£
118,847
2,785
2,372
124,004
2025
£
37,366		 2024
Number
1
4
5
2024
£
92,139
531
1,788
94,458
2024
£
33,959

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13
Tangible fixed assets
Improvements
to property
Gym
equipment
Gym clothing
£
£
£
Cost
At 1 October 2024
12,130
84,071
2,155
At 30 September 2025
12,130
84,071
2,155
Depreciation and impairment
At 1 October 2024
8,330
61,988
2,155
Depreciation charged in the year
950
8,130
-
At 30 September 2025
9,280
70,118
2,155
Carrying amount
At 30 September 2025
2,850
13,953
-
At 30 September 2024
3,800
22,083
-
14
Stocks
Finished goods and goods for resale
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Office
equipment
£
9,296
9,296
9,109
63
9,172
124
187
2025
£
500
2025
£
4,122
4,044
100
8,266		 Total
£
107,652
107,652
81,582
9,143
90,725
16,927
26,070
2024
£
824
2024
£
3,335
2,287
94
5,716

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

16 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2025
£
9,954
6,594
3,360		 2024
£
16,385
6,431
9,954

During 2021 the charitable company took out a bank loan for which the Government provided a 100% guarantee in respect of the outstanding balance. Interest became payable after 12 months at 2.5% per annum. The balance outstanding at the balance sheet date is £9,954 (2024: £16,385).

17 Creditors: amounts falling due within one year

Notes
Bank loans
16
Deferred income
19
Trade creditors
Other creditors
Accruals
18
Creditors: amounts falling due after more than one year
Notes
Bank loans
16
19
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:		 2025
£
6,594
-
3,754
524
7,277
18,149
2025
£
3,360		 2024
£
6,431
2,190
3,186
348
5,680
17,835
2024
£
9,954
2025
£
-		 2024
£
2,190
2025
£
-		 2024
£
2,190

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

19 Deferred income (Continued)
Deferred income at 1 October 2024 2,190 2,285
Released from previous periods (2,190) (2,285)
Resources deferred in the year - 2,190
Deferred income at 30 September 2025 - 2,190

Deferred income relates to income relating to October gymnastic sessions in the following financial year.

20 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 2,372 1,788

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The amount owing to the scheme at the balance sheet date is £524 (2024: £347).

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 October Resources Transfers At 30
2024 expended September
2025
£ £ £ £
Helstonbury - Equipment grant 1,108 (177) - 931
Rotary Club Helston - Computer grant 100 (25) - 75
1,208 (202) - 1,006
Previous year: At 1 October Resources Transfers At 30
2023 expended September
2024
£ £ £ £
JX3 Support Services - New gym 1,000 - (1,000) -
Helstonbury - Equipment grant 1,287 (179) - 1,108
Rotary Club Helston - Computer grant 125 (25) - 100
Sport England Return to Play 185 (185) - -
2,597 (389) (1,000) 1,208

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

21 Restricted funds

(Continued)

The JX3 donation was received in 2012 for the purchase of new gym equipment. During the previous year £1,000 of expenditure was transferred from unrestricted funds to the JX3 restricted fund. This was due to a historical error and these funds being spent in previous years on gym equipment and being fully depreciated.

The Helstonbury grant was received during 2016 for the purchase of specific gym equipment. In 2023 an additional amount of £1,154 was received for a spotting platform. This was fully utilised.

The Rotary Club donations were received during 2016 and 2018 for the purchase of new computer equipment and gym equipment, respectively.

The Sport for England grant was received during 2021 for the Return to Play project following Covid-19. The fund was spent on IT equipment, cleaning and equipment and coaches fees and expenses, as required by the grant.

The related expenditure on all the above funds during the year ended 30 September 2025 is the depreciation on the capitalised costs.

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 October Incoming Resources Transfers At 30
2024 resources expended September
2025
£ £ £ £ £
General funds 159,123 195,722 (202,231) - 152,614
Previous year: At 1 October Incoming Resources Transfers At 30
2023 resources expended September
2024
£ £ £ £ £
General funds 136,932 188,894 (167,703) 1,000 159,123

23 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 30 September 2025:
Tangible assets
15,921
1,006
Current assets/(liabilities)
140,053
-
Long term liabilities
(3,360)
-
152,614
1,006		 Total
2025
£
16,927
140,053
(3,360)
153,620

SWALLOWS OF HELSTON GYMNASTICS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

23 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 30 September 2024:
Tangible assets 24,862 1,208 26,070
Current assets/(liabilities) 144,215 - 144,215
Long term liabilities (9,954) - (9,954)
159,123 1,208 160,331

24 Related party transactions

There were no disclosable related party transactions during the year (2024 - none) other than those disclosed in note 10.

25 Company limited by guarantee

The charity is a company limited by guarantee, and has no share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 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.