Registered company number :05365687 (England and Wales) Registered charity number: 1110574
Report and Accounts Financial statements for the year ended 28 February 2025 for
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Report and accounts Contents
| Page | |
|---|---|
| Report of the trustees | 1 |
| Statement of Trustees' and Directors' Responsibilities | 2-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Statement of Financial Position | 9 |
| Cash flow statement | 10 |
| Notes to the Financial Statements | 11-17 |
| Summarised Statement of Financial Activities | 18 |
| Detailed Statement of Financial Activities | 19-20 |
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee
TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT)
Year Ended 28 February 2025
The trustees (and the directors of the charity for the purposes of company law), present their report with the financial statements of the charity for the year ended 28 February 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
| Registered Charity Name | Heathrow School of Gymnastics & Dance Limited |
|---|---|
| Registered Company number | 05365687 (England and Wales) |
| Registered Charity number | 1110574 |
| Principal address and registered office | Green Lane |
| Hounslow | |
| Middlesex | |
| TW4 6DH | |
| Trustees | T J Anstiss |
| Mihaela Zdrali | |
| Paul Gibbons | |
| Company Secretary | Mihaela Zdrali |
| Directors | V Walduck - Chief Executive Officer & Head coach |
| Paul Gibbons | |
| Mihaela Zdrali | |
| T J Anstiss | |
| Independent Examiner | Mohan Kripalani (Penningtons Accountants Limited) |
| 2 Crosslands Avenue | |
| London | |
| England | |
| W5 3QH | |
| Bankers | Lloyds TSB Bank Plc |
| 73-75 High Street | |
| Staines | |
| Middlesex | |
| TW18 4PP | |
| Solicitors | Ashfords LLP, Tower Wharf, Cheese Ln, Bristol BS2 0JJ |
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Heathrow School of Gymnastics & Dance Limited
Company Limited by Guarantee
TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT)
Year Ended 28 February 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the company law.
Heathrow School of Gymnastics & Dance Limited was incorporated on 15 February 2005 and was registered as a charity on 26 July 2005. The company is managed on behalf of the members by a Board of Trustees. The day to day administration is under the control of the Chief Executive.
The company operates under the name of Heathrow Gymnastics Club, hereinafter referred to as the Club.
Recruitment and appointment of new trustees
The directors of the company under the company's Articles are known as members of the Board of Trustees. The Board of Trustees seeks to ensure that the interests of the gymnasts and the development of the Club are appropriately reflected through the skills and diversity of the Management Committee. Individuals who exhibits a close active interest in the daily running and activities of the Club and have appropriate skills are invited to join the Management Committee.
Induction and training of new trustees
Newly appointed trustees are familiar with the operations of the Club. Additionally new trustees are encouraged to attend a series of training sessions to familiarise them with the charity and the structure of British Gymnastics. These sessions are conducted by the Programme Director, the Director of Administration and Coaching Director of the charity and cover the following areas:
-
The obligations of the Management committee members.
-
The operational framework of the charity.
-
The resources and current financial position as set out in the latest published accounts.
-
The future plans and objectives.
The Charity Commission's guide 'Responsibilities of Charity Trustees' is also issued to new trustees on appointment.
Organisational structure
The management committee meets at regular intervals with the Programme Director, the Director of Coaching and the Director of Administration. Between them, they are responsible for all operational matters, including the financing and management of gymnastic activities. The Programme Director is responsible to the Trustees.
Wider network
The Club has developed a strong relationship with Hounslow Council, the British Gymnastics and a good network of users. This together with the commitment of the coaching staff has ensured that the Club continues to achieve the annual objectives set by the Management Committee.
Related parties
No trustee or other person related to the charity had any personal interest in any contract. There were no related party transactions during the year that are not shown elsewhere in the accounts.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Management Committee regularly reviews risk management with input from the Director of Coaching and Director of Administration.
The Trustees are in touch with the CEO monthly and immediately if necessary.
2
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT) Year Ended 28 February 2025
OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT
The Trustees have had regard to the Charity Commission's guidance on public benefit in carrying out the charity's objectives.
Objectives and aims
To offer the community of the London Borough of Hounslow and wider, the opportunity for young people to take part in the sport of gymnastics. To enhance their physical and mental health and a range of skills that will benefit them now and in later life. Welcoming all abilities to participate in a unique sport that develops strength, coordination, courage, communication, concentration and team work skills.
The club continues to provide a high level of service to its members from passionate, educated and caring coaches that strive to allow each gymnast to thrive. The Trustees remain committed to ensuring the Club aims are met and involve themselves in the service we provide and how we can improve further. Following a small expansion of members exceeding 1200, we will need to ensure that the quality of coaching is kept and whether this increase is manageable. We continue to reinvest any club surplus funds back into facility upgrades, new equipment and tools to help our gymnasts improve, be safe and for our coaches to be inventive in their lessons. The Club invested in new toilets for each gym. The club continues to have very good competitive results regionally, nationally and internationally across 4 disciplines.
Significant activities
The significant activities of the Club are coaching and competitions.
Volunteers
The Management Committee and a pool of volunteers carry out number of activities relating to catering and fund raising.
3
Heathrow School of Gymnastics & Dance Limited
Company Limited by Guarantee
TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT) Year Ended 28 February 2025
Strategic Report
The following sections for achievements and performance and financial review form the strategic report of the charity.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The club is running at capacity and is now focused on improving and maintaining the highest quality of provision in every aspect. The clubs membership has now returned to approx 1,100 and we do not plan to increase this. The Club has had to carefully monitor income and expenditure with increasing costs. The Clubs administrative team have also made improvements on Safeguarding and record keeping.
The Club's success is measured by membership numbers, reduction in gymnast turnover, competitive success, the feedback of satisfied parents and the clubs waiting list.
Fundraising activities
Donations and grants are more difficult to gain with strict criteria that need to be fulfilled. Replacement of equipment is rarely funded.
Internal and external factors
The Club has developed a strong relationship with Hounslow Council, the British Gymnastics and a good network of users. This together with the commitment of the coaching staff has ensured that the Club continues to achieve the annual objectives set by the Management Committee.
FINANCIAL REVIEW
Results for the period
Unrestricted Funds
In the year, the overall net income / (net deficit) of the charity amounted to £89,785 [2024-£85,694 ].
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Heathrow School of Gymnastics & Dance Limited
Company Limited by Guarantee
TRUSTEES' ANNUAL REPORT (INCLUDING THE DIRECTOR'S REPORT AND STRATEGIC REPORT) Year Ended 28 February 2025
Reserves policy
In line with Charity Commission requirements, the Board of Trustees recognise the need to maintain reserves to ensure that the company meets statutory and contractual obligations. Provision is made to ensure sufficient funds for the following contingencies:
Staff redundancies Sickness cover Uninsured losses (e.g. excesses on professional indemnity and employment claims) Flood
Fire
The Board of Trustees also recognise the need for sufficient funds to replace existing and invest in new gymnastic equipment to ensure the continued operation and development of gymnastic programmes. The trustees are of the opinion that a reserve of £400,000 is sufficient towards any contigencies that may arise in future.
Principal funding sources
The principal funding sources for the Club were generated from training fees, hire of the gymnasium and PlayGym.
FUTURE DEVELOPMENTS
The Club will continue to strengthen coaching resources and will continue to grow our community activities for the benefit of Hounslow and the surrounding areas.
The club will also be upgrading its lighting to LED which would provide reduced costs and eco friendly environmental care. Solar panels are being considered for the future.
5
Statement of Trustees' and Directors' Responsibilities
The Board of trustees including the directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the trustees and directors to prepare accounts for each financial year. Under that law the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees and directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees and directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees and directors 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 them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking resonable steps for the prevention and detection of fraud and other irregularities. The directors and trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE INDEPENDENT EXAMINER
-
there is no relevant audit information of which the charitable company's independent examiners are unaware; a
-
- the trustees and directors have taken all the steps that they ought to have taken to make themselves aware of an relevant audit information and to establish that the charitable company's independent examiners are aware of th information.
The trustees' and directors' annual report and the strategic report were approved on 9th October 2025. and signed on behalf of the board of trustees by:
ON BEHALF OF THE BOARD:
....................................................... Ms Mihaela Zdrali Director/Trustee
6
Heathrow School of Gymnastics & Dance Limited Independent Examiner's Report
Independent Examiner's Report to the Trusteess of Heathrow School of Gymnastics & Dance Limited
I report to the trustees on my examination of the financial statements of Heathrow School of Gymnastics & Dance Limited for the year ended 28 February 2025.
Responsibilities and basis of report
As the trustees of the company (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. ('the 2006 Act).
I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act') and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of the body listed in section 145 in the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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;
1) the accounting records were not kept in accordance with section 130 of the Charities Act; or
2) the financial statements do not accord with those records; or
3) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
4) the financial statements 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 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.
Mohan Kripalani
Penningtons Accountants Limited Chartered Accountants
2 Crosslands Avenue London England W5 3QH 9 October 2025
7
Heathrow School of Gymnastics & Dance Limited
Company Limited by Guarantee Statement of Financial Activities (Including Income and Expenditure Account) for the year ended 28 February 2025
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | 2025 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Incoming resources from | |||||
| generated funds | |||||
| Grant Income | 2 | - | - | - | 500 |
| Activities for generating funds | 3 | 178,315 | - | 178,315 | 144,429 |
| Investment income | 4 | 20,427 | - | 20,427 | 14,212 |
| Incoming resources from | |||||
| charitable activities | |||||
| Provision of gymnastic facilities | 5 | 1,440,211 | - | 1,440,211 | 1,343,887 |
| Total incoming resources | 1,638,953 | - | 1,638,953 | 1,503,028 | |
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Fundraising trading: cost of goods | |||||
| sold and other costs | 6 | 116,512 | - | 116,512 | 117,114 |
| Charitable activities | |||||
| Provision of gymnastic facilities | 7 | 1,371,693 | - | 1,371,693 | 1,238,159 |
| Governance costs | 9 | 60,963 | - | 60,963 | 62,061 |
| Interest payable | 12 | - | - | - | |
| Total resources expended | 1,549,168 | - | 1,549,168 | 1,417,334 | |
| NET INCOMING / (OUTGOING) | 89,785 | - | 89,785 | 85,694 | |
| RESOURCES | |||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 603,527 | 379,735 | 983,262 | 897,568 | |
| TOTAL FUNDS CARRIED FORWARD | 693,312 | 379,735 | 1,073,047 | 983,262 |
8
Heathrow School of Gymnastics & Dance Limited
Company Limited by Guarantee Balance Sheet
as at 28 February 2025
| Balance Sheet as at 28 February 2025 |
|||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Unrestricted | Restricted | Total | Total | ||
| Notes | Funds | Funds | Funds | Funds | |
| £ | £ | ||||
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 13 | 199,152 | 79,735 | 278,887 | 237,824 |
| Current assets | |||||
| Stocks | 14 | 28,678 | - | 28,678 | 19,193 |
| Debtors | 15 | 55 | - | 55 | 824 |
| Cash at bank and in hand | 574,356 | 300,000 | 874,356 | 822,385 | |
| 603,089 | 300,000 | 903,089 | 842,402 | ||
| Creditors: amounts falling | |||||
| due within one year | 16 | (108,929) | - | (108,929) | (96,964) |
| Net current assets | 494,160 | 300,000 | 794,160 | 745,438 | |
| NET ASSETS | 693,312 | 379,735 | 1,073,047 | 983,262 | |
| FUNDS | |||||
| Unrestricted funds | 19 | 693,312 | 603,527 | ||
| Restricted funds | 379,735 | 379,735 | |||
| Total funds | 1,073,047 | 983,262 |
The financial statements are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.
Members have not required the company to obtain an audit of its accounts for the year in question 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 for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
These financial statements were approved by the members of the committee on the TBA and are signed on their behalf by:
| ______ | ______ |
|---|---|
| 09/10/2025 | 09/10/2025 |
| Mihaela Zdrali | V Walduck - Chief Executive Officer & Head coach |
| Director/Trustee | Director |
Company Registration number: 05365687 (England and Wales)
9
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Cash Flow Statement for the year ended 28 February 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Operating activities | |||
| Profit for the financial year | 89,785 | 85,694 | |
| Adjustments for: | |||
| Depreciation | 79,826 | 62,977 | |
| Increase in stocks | (9,485) | (1,817) | |
| Decrease in debtors | 769 | 14,297 | |
| Increase in creditors | 11,965 | 6,949 | |
| 172,860 | 168,100 | ||
| Cash generated by operating activities | 172,860 | 168,100 | |
| Investing activities | |||
| Payments to acquire tangible fixed assets | (120,889) | (35,580) | |
| Cash generated by investing activities | (120,889) | (35,580) | |
| Net cash generated | 51,971 | 132,520 | |
| Cash at bank and in hand less overdrafts at 1 March | 822,385 | 689,865 | |
| Cash at bank and in hand less overdrafts at 28 February | 874,356 | 822,385 | |
| Cash and cash equivalents comprise: | |||
| Cash at bank and in hand | 874,356 | 822,385 | |
| - | - |
10
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
Basis of preparation
The financial statements have been prepared on the historical cost basis with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
No amounts are included for the contribution of general volunteers.
Income from grants for the supply of services is recognised with the delivery of the required service. These are classified as restricted funds as there is a contractual requirement for it to be spent on a particular purpose and returned if unspent.
Income from gymnastics and dance contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is accounted for on an accruals basis, inclusive of VAT, and has been classified under headings that aggregate all cost related to the category.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2025
Volunteer time
A significant contribution is made by volunteers throughout the year and the value of these donated services is not reflected in the accounts.
Allocation and apportionment of costs
The trustees have allocated the support costs on a direct basis which they deem to be most accurate.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Equipment costing £500 or less is not capitalised but is expensed in the year of purchase.
Depreciation
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful | Depreciation has been provided at the following rates in order to write off the assets over their estimated useful |
|---|---|
| lives. | |
| Long Leasehold | Over the term of the lease |
| Fixtures & Equipments | 10% on cost |
| Gymnasium equipment | 25% on cost |
| Motor vehicle | 25% on cost |
Stocks
Stock is 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. Restricted funds can only be used for a 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.
Leasing and hire purchase commitments
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Investments
Investments are measured at fair values less any accumulated impairment losses.
Going Concern
There are no material uncertainities about the charity's ability to continue.
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Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2025
| 2 | Grant Income | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | |||
| Donations | - | 500 | ||
| - | 500 | |||
| 3 | Activities for generating funds | 2025 | 2024 | |
| £ | £ | |||
| Hire of club | 6,079 | 12,014 | ||
| Clothing | 46,086 | 48,088 | ||
| Competitions, Displays and courses | 120,247 | 81,037 | ||
| Vending machine | 4,456 | 3,290 | ||
| Miscellaneous | 1,447 | - | ||
| 178,315 | 144,429 | |||
| 4 | Investment income | 2025 | 2024 | |
| £ | £ | |||
| Deposit account interest | 20,427 | 14,212 | ||
| 20,427 | 14,212 | |||
| 5 | Incoming resources from Charitable Activities | 2025 | 2024 | |
| £ | £ | |||
| Activity | ||||
| Training Fees | Provision of Gymnastic facilities | 1,440,211 | 1,343,887 | |
| 1,440,211 | 1,343,887 | |||
| 6 | Fundraising Trading: Cost of goods sold and other costs | 2025 | 2024 | |
| £ | £ | |||
| Clothing and chalk | 44,528 | 61,616 | ||
| Competitions and displays | 39,467 | 20,894 | ||
| Vending machine | 12,122 | 12,992 | ||
| Photographs and DVDs | - | 94 | ||
| Support costs (note 8) | 19,069 | 19,494 | ||
| Gifts | 1,326 | 2,024 | ||
| 116,512 | 117,114 |
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Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2025
| 7 | Charitable activities costs | Direct costs | Support costs | Totals | ||
|---|---|---|---|---|---|---|
| (see note 8) | ||||||
| £ | £ | £ | ||||
| Provision of gymnastic facilities | 1,009,383 | 362,310 | 1,371,693 | |||
| 8 | Support costs | Information | Human | |||
| Management | Technology | Resources | Totals | |||
| £ | £ | £ | £ | |||
| Fundraising trading : cost of goods sold and | ||||||
| other costs | 13,179 | 949 | 4,941 | 19,069 | ||
| Provision of gymnastic facilities | 250,399 | 18,023 | 93,888 | 362,310 | ||
| 263,578 | 18,972 | 98,829 | 381,379 | |||
| Activity | Basis of allocation | |||||
| Management | Staff Time | |||||
| Information technology | Staff Time | |||||
| Human resources | Staff Time | |||||
| Support costs, included in the above, are as follows: | ||||||
| 2025 | 2024 | |||||
| Fundraising | ||||||
| trading : cost | ||||||
| of goods sold | Provision of | |||||
| and other | gymnastic | Total | Total | |||
| costs | facilities | activities | activities | |||
| £ | £ | £ | £ | |||
| Rent, rates & water | 1,152 | 21,881 | 23,033 | 22,836 | ||
| Insurance | 485 | 9,221 | 9,706 | 9,269 | ||
| Light and heat | 1,898 | 36,062 | 37,960 | 85,446 | ||
| Telephone | 158 | 3,011 | 3,169 | 3,000 | ||
| Printing, postage and stationery | 333 | 6,319 | 6,652 | 6,743 | ||
| Other support cost | 5,162 | 98,070 | 103,232 | 91,548 | ||
| Depreciation and loss on disposal | 3,991 | 75,835 | 79,826 | 62,977 | ||
| Computer costs | 949 | 18,023 | 18,972 | 12,591 | ||
| Reception & administrative wages | 4,339 | 82,446 | 86,785 | 80,388 | ||
| Reception & administrative social security | 484 | 9,193 | 9,677 | 9,005 | ||
| Reception and administrator pension cost | 112 | 2,130 | 2,242 | 2,099 | ||
| Reception and administrator fees | 6 | 119 | 125 | 4,005 | ||
| 19,069 | 362,310 | 381,379 | 389,907 |
14
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts
for the year ended 28 February 2025
| 9 | Governance costs | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Accountancy & book keeping fees | 4,813 | 4,850 | |
| Management and admin fees | 51,150 | 46,402 | |
| Legal fees | 2,380 | 8,259 | |
| Fines | 70 | - | |
| Independent Examiner's fees | 2,550 | 2,550 | |
| 60,963 | 62,061 | ||
| 10 | Net incoming / (outgoing) resources for the year | 2025 | 2024 |
| £ | £ | ||
| Net resources are stated after charging: | |||
| Independent Examiner's fees | 2,550 | 2,550 | |
| Depreciation - owned assets | 79,826 | 62,977 |
11 Wages and salaries
The average number of employees, calculated on the basis of full time equivalents was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Coaches | 56 | 54 |
| Administration | 2 58 |
2 56 |
| 2025 | 2024 | |
| £ | £ | |
| Staff costs | ||
| Wages and salaries | 782,751 | 671,063 |
| Social Security | 52,572 | 40,670 |
| 835,323 | 711,733 |
No employee was paid more than £65,000 in the year.
12 Trustees' remuneration and expenses
None of the trustees were paid remuneration or expenses during the year ended 28 February 2025 (2024: £nil).
15
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2025
13 Tangible fixed assets
| Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Leasehold | |||||
| Land and | Plant and | Gymnasium | Motor | ||
| buildings | machinery etc | equipment | vehicles | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 March 2024 | 976,867 | 415,792 | 207,578 | 57,966 | 1,658,203 |
| Additions | 91,599 | 4,896 | 24,394 | - | 120,889 |
| Disposals | - | - | (3,950) | - | (3,950) |
| At 28 February 2025 | 1,068,466 | 420,688 | 228,022 | 57,966 | 1,775,142 |
| Depreciation | |||||
| At 1 March 2024 | 894,262 | 292,177 | 175,974 | 57,966 | 1,420,379 |
| Charge for the year | 31,599 | 28,286 | 19,941 | - | 79,826 |
| On disposals | - | - | (3,950) | - | (3,950) |
| At 28 February 2025 | 925,861 | 320,463 | 191,965 | 57,966 | 1,496,255 |
| Net book value | |||||
| At 28 February 2025 | 142,605 | 100,225 | 36,057 | - | 278,887 |
| At 29 February 2024 | 82,605 | 123,615 | 31,604 | - | 237,824 |
It is the company policy to write off Gymnasium Equipment which are more than 8 years old.
| 14 | Stocks | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Stocks | 28,678 | 19,193 | |
| 28,678 | 19,193 | ||
| 15 | Debtors | 2025 | 2024 |
| £ | £ | ||
| Other debtors | 55 | 824 | |
| 16 | Creditors: amounts falling due within one year | 2025 | 2024 |
| £ | £ | ||
| Trade creditors | 19,560 | 16,705 | |
| Other taxes and social security costs | 11,765 | 12,046 | |
| Other creditors | 51,688 | 47,506 | |
| Accrued Expenses | 25,916 | 20,707 | |
| 108,929 | 96,964 |
16
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Notes to the Accounts for the year ended 28 February 2025
| 17 | Other financial commitments | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| At the year end the company had annual commitments under | |||
| non-cancellable operating leases as set out below: | |||
| Operating leases which expire: | |||
| in over five years | 19,750 | 19,750 |
18 Related parties
A total amount of £259,750 [2024 - £209,498] were paid to the related parties for the year ended 28 February 2025. The payments were made to the directors and their family members for provision of gym coaching, travel accomodation and management of gym. These transactions are considered to be of arm's length basis.
19 Movement in funds
| Movement in funds | |||
|---|---|---|---|
| Net | |||
| movement in | |||
| At 1/3/24 | funds | At 28/2/25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 603,527 | 89,785 | 693,312 |
| Restricted funds | |||
| Restricted | 379,735 | - | 379,735 |
| Total Funds | 983,262 | 89,785 | 1,073,047 |
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | Funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,638,953 | (1,549,168) | 89,785 |
| Total Funds | 1,638,953 | (1,549,168) | 89,785 |
20 Cash at bank
Cash at bank at the year end of £874,356 includes a contingency and roof replacement fund of £300,000 which is not available to use on a day to day basis and therefore should not be looked at as working capital for the company.
17
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Summarised Statement of Financial Activities for the year ended 28 February 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Incoming Resources | 1,638,953 | 1,503,028 |
| Resources Expended | (1,549,168) | (1,417,334) |
| Gross profit | 89,785 | 85,694 |
| Profit before tax | 89,785 | 85,694 |
18
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Detailed Statement of Financial Activities
for the year ended 28 February 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Incoming Resources | ||
| Donations | - | 500 |
| Hire of club | 6,079 | 12,014 |
| Clothing | 46,086 | 48,088 |
| Comps. Displays, Courses and BG Insurance | 120,247 | 81,037 |
| Vending machine | 4,456 | 3,290 |
| Miscellaneous | 1,447 | - |
| Deposit account interest | 20,427 | 14,212 |
| Training fees | 1,440,211 | 1,343,887 |
| 1,638,953 | 1,503,028 | |
| Resources Expended | ||
| Fundraising training:cost of goods sold and other costs | ||
| Clothing and chalk | 44,528 | 61,616 |
| Competitions and displays | 39,467 | 20,894 |
| Photographs and DVDs | - | 94 |
| Vending machine | 12,122 | 12,992 |
| Gifts | 1,326 | 2,024 |
| 97,443 | 97,620 | |
| Charitable activities | ||
| Coaching fees | 172,812 | 169,729 |
| Coaching wages and salaries | 695,966 | 590,675 |
| Coaching wages social security | 42,895 | 31,665 |
| Coaching Pension cost | 9,607 | 7,256 |
| Staff training and welfare | 21,923 | 15,355 |
| Travel and accommodation | 66,180 | 53,066 |
| 1,009,383 | 867,746 |
19
Heathrow School of Gymnastics & Dance Limited Company Limited by Guarantee Detailed Statement of Financial Activities
for the year ended 28 February 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Administrative expenses | ||
| Support Cost | ||
| Rent and rates | 23,033 | 22,836 |
| Light, heat and water | 37,960 | 85,446 |
| Cleaning | 14,823 | 13,423 |
| Telephone and fax | 3,169 | 3,000 |
| Printing, postage & stationery | 6,652 | 6,743 |
| Subscriptions | 170 | 159 |
| Bank charges | 13,136 | 10,391 |
| Insurance | 9,706 | 9,269 |
| Equipment expensed and hire | 14,771 | 8,075 |
| Repairs and maintenance | 43,064 | 47,425 |
| Motor Expenses | 3,353 | 3,314 |
| Donations | - | 125 |
| Entertaining | 11,218 | 5,100 |
| Catering | 2,697 | 3,536 |
| Depreciation | 79,826 | 62,977 |
| Reception and admin fees | 125 | 4,005 |
| 263,703 | 285,824 | |
| Information technology | ||
| Computer costs | 18,972 | 12,591 |
| 18,972 | 12,591 | |
| Human resources | ||
| Administrative wages | 88,314 | 83,446 |
| Administrative social security | 9,677 | 9,005 |
| Administrative Pension cost | 2,242 | 2,099 |
| SMP Recovered | (1,529) | (3,058) |
| 98,704 | 91,492 | |
| Governance costs | ||
| Accountancy & book keeping fees | 4,813 | 4,850 |
| Independent Examiner's fees | 2,550 | 2,550 |
| Fines | 70 | - |
| Management and admin fees | 51,150 | 46,402 |
| Other legal and professional | 2,380 | 8,259 |
| 60,963 | 62,061 | |
| 1,549,168 | 1,417,334 |
20