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2025-07-31-accounts

Company number: 06501296

HUNTINGDON GYMNASTICS CLUB LIMITED

(A company limited by guarantee)

CHARITY COMMISSION REGISTERED NO. 1124674

FINANCIAL STATEMENTS

for the year ended 31 July 2025

HUNTINGDON GYMNASTICS CLUB LIMITED

Financial Statements

for the year ended 31 July 2025

Contents Pages
Company Information 1
Report of the Trustees 2 to 5
Report of the auditors 6 to 9
Statement of Financial Activity 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13 to 21

HUNTINGDON GYMNASTICS CLUB LIMITED Company Information

Company number: 06501296

Board of Trustees / Company Directors

Mrs S Scott Mr T Sharpington Mr S Davison Mrs E Brook Mrs Z McGowen Ms S Grady Ms T Baker Mrs S Scotcher

Chair Resigned 8 April 2026 Resigned 18 December 2025 Appointed 2 April 2025 Appointed 14 January 2026

Other positions

Club Manager - Mr Adam Scott Office Manager - Mrs Sue Besant

Charity Number

1124674

Company Number

06501296

Registered office

Mayfield Road Huntingdon Cambridgeshire PE29 1UL

Accountant

Ken Maggs BA, FCA Hoekman Way Spalding Lincs PE11 3HE

Auditor

TC Group 1-4 London Road Spalding Lincolnshire PE11 2TA

Page: 1

HUNTINGDON GYMNASTICS CLUB LIMITED

Report of the Trustees

for the year ended 31 July 2025

The trustees (who are represented by 'the Board' throughout this report), who are also directors of the charity for the purposes of the Companies act, have pleasure in submitting their annual report together with the audited financial statements of the Charitable Company for the year ended 31 July 2025.

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) issued in 2019 in preparing the annual report and financial statements of the charity.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity was registered in April 2008 and is governed by a Memorandum and Articles of Association. The trustees, who are also directors for the purpose of company law, and who served during the year are detailed on the charity information on page 1.

Recruitment and appointment of new trustees

New trustees are recruited by local advertising and by recommendation. Club members vote on the trustee applications at the Annual General Meeting. The Club is required to have a minimum of four trustees on the Board. The Chair is required to keep a balance of skills and experience on the Board and to maintain a balance of parents and non-parents.

New trustees are encouraged to familiarise themselves with charity laws, the financial reports of the Club and to attend Club staff meeting and other events.

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up of the charity.

Organisational Structure

The Board manages the business of the charity and is responsible for overseeing the strategic, financial and legal direction of the charity. The Board is responsible for ensuring that all recommended financial controls have been considered and introduced and meets at least six times per year. Trustees hold a portfolio for their particular responsibility and are available for advice in support of various aspects of the business and welfare of the charity. The Board is elected at the Annual General Meeting of the charity.

During 2025, the Board has nominated a Management Sub-committee to manage the Charity’s activities that consists of the Office Manager and the Club Manager. The Management Sub-committee meets on a monthly basis and reports to each Board meeting including a “balanced scorecard” which includes a safety report, capacity and waiting list review, finance report and parent feedback.

Related Parties

Transactions during the period with trustees and any other related parties are detailed in note 14 of these financial statements.

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 any error.

Page: 2

HUNTINGDON GYMNASTICS CLUB LIMITED

Report of the Trustees (continued)

for the year ended 31 July 2025

Objectives and activities and Public Benefit

The main objective of the charity is the promotion of community participation in healthy recreation for the benefits of the inhabitant of Huntingdon and the surrounding area by the provision of facilities for the sport of gymnastics and any other charitable activities.

The trustees are highly conscious of the need to provide the best possible public benefit in line with Charity Commission guidance and consider that the charity does this.

The charity has undertaken the activities described in the sections below during the year to implement these objects in line with our current development path. These activities also provides support for the public benefits that the charity provides.

Overview

At the start of September 2024, the Charity implemented fee increases across the Club’s gymnastics programmes to ensure the Charity remained financially viable. This increase was necessitated as a result of increases to the National Minimum Wage and the need to accommodate further rises forecasted in April 2025. Throughout the year Club memberships remained close to capacity.

The focus for the 2024-2025 financial year was to continue the development of the Club’s coaching team, providing formal education courses, and mentoring from senior members of staff, enabling the Club to continue to deliver ‘high quality’ coaching and provide value for money for the local community.

A secondary focus was to provide opportunities for members across the Club to compete in competitions appropriate to their level of performance, from in-house Club competitions through to representing their country internationally.

Provision of community participation in health recreation

The Charity’s participation programme continued to be popular with high levels of engagement from the local community.

The Charity continues to provide gymnastics provision for a wide variety of age groups and levels including toddler’s sessions, pre-school classes, participation classes, teenage specific classes and adult sessions, together with ladies’ specific sessions.

The Charity also continues to work closely with adult disability groups and special educational needs providers, as well as engaging with parent’s who home educate their children.

In March 2025, 345 gymnasts from the Club’s participation programme took part within the Club’s future stars competition.

Provision of facilities for the sport of gymnastics

The Charity continues to maintain the building and specialist gymnastics equipment to a high standard.

The Charity is committed to provide the best equipment possible for all users of the facilities. The Charity continues to explore funding to invest in upgrading gymnastic equipment and the facilities.

Recruitment and Retention of the club’s coaching workforce

As a response to the continuing nationwide shortage of qualified gymnastics coaches, Huntingdon Gymnastics Club continues to deliver it’s Young Trainee Coach programme. This programme allows former gymnasts aged 14 to 16 years to take their first steps in gymnastics coaching. The programme has benefited from financial grants for the Foundation of Hinchingbrooke School, enabling the members of the programme to qualify as gymnastics coaches. The Charity has plans to recruit another 5 young people to these posts in 2025/26.

The Charity operates an apprenticeship programme in association with FitUK.

Page: 3

HUNTINGDON GYMNASTICS CLUB LIMITED

for the year ended 31 July 2025

Report of the Trustees (continued)

Providing a full service for elite and aspiring elite performers

During this year, the Club’s gymnasts competed nationally and internationally. In September 2024, three gymnasts from the Club represented three different home nations at the Northern European Championships in Dublin, Ryan Cirino (England), Niall Hooton (Ireland) and Valdimar Mathiasson (Iceland). Niall became Irish champion on Rings and won bronze medals in the Floor, Parallel Bars, High Bar and All-Around competition.

At the 2025 British Championships, Jake Jarman won gold in both the Vault and Parallel Bars competition and Silver on the Pommel Horse. Sol Scott became the Under 18 British Champion and Uzair Chowdhury the U16 British Champion. In the Junior British Apparatus Masters, Sol Scott won Gold on Vault and High Bar and a silver medal on Pommel Horse. Uzair Chowdhury won gold on the Parallel Bars and the bronze medal on Rings. Codi Hurd won silver in the floor competition.

At the 2025 European Championships, Jake Jarman won Team gold, and silver in both the Vault and Mixed Team competitions in Leipzig, Germany.

At the European Youth Olympics Festival, Skopje, North Macedonia, Uzair Chowdhury won gold in the Team, Rings and Parallel Bars and Bronze in the All-Around Competition.

The Women’s Artistic gymnasts Performance programme continues to build with strong performances at National, Regional and County competitions.

Volunteers

The Charity is always grateful for the support of its volunteers who play important roles across the organisation including the Trustees and volunteers who support coaching, welfare and fundraising.

Financial Review

The financial performance of the charity for the year ended 31 July 2025 is detailed on pages 10 to 21 of these financial statements and the Trustees are pleased with the performance during the year.

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three months of expenditure. As a result of experience during successive lockdowns, the Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities whilst consideration is given to a way in which additional funds may be raised.

The required 'Free Reserves' are therefore in the region of £256,000, which means we are currently £4,516 in deficit of this requirement which is not considered to be significant.

Plans for the future

At the date of this financial review, the Charity expects to be able to continue its activities in 2025/2026 and the Trustees are in the process of developing the Clubs Strategic and Operational Plans for 2025 – 2030.

The Trustees will continue to look at outside financial support for equipment replacement capital funding to support enhancement of the gym and the surrounding building.

Page: 4

HUNTINGDON GYMNASTICS CLUB LIMITED

Report of the Trustees (continued)

for the year ended 31 July 2025

Trustee's responsibilities statement

The trustees are responsible for preparing the trustees report and the financial statements in accordance with applicable laws and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the trustees are required to:

The directors are responsibly for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions.

Going concern

The Trustees are of the opinion that the Charity will continue to be a going concern. It has been a very challenging time for the Charity which has worked to support and retain the coaching and administrative teams whilst servicing increases in overheads.

The Trustees are of the opinion that the Charity will continue to be a going concern.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 8 April 2026 and signed on behalf of the board by:

…................................. Mrs Z McGowen Director

Page: 5

Independent Auditor's Report to the Trustees of HUNTINGDON GYMNASTICS CLUB LIMITED

Opinion

We have audited the financial statements of Huntingdon Gymnastics Club Limited (the ‘charitable company’) for the year ended 31 July 2025, which comprise the Statement of Financial Activity, the Balance Sheet and the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page: 6

Independent Auditor's Report to the Trustees of HUNTINGDON GYMNASTICS CLUB LIMITED

(continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach and systems to detect and assess the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations include the following steps and procedures:

Auditor responsibilities for the audit of the financial statements (continued)

We have assessed the susceptibility of the charitable company's financial statements to material misstatement from irregularities, including fraud, by:

Page: 7

Independent Auditor's Report to the Trustees of

HUNTINGDON GYMNASTICS CLUB LIMITED

(continued)

We have addressed the risk of fraud through management bias and override of controls, by:

We have addressed the risk of irregularities and non-compliance with the relevant laws and regulations by performing the following procedures, but not limited to:

Because of the inherent limitations of an audit described above, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page: 8

Independent Auditor's Report to the Trustees of

HUNTINGDON GYMNASTICS CLUB LIMITED

(continued)

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

….....................................

Josh Rowbottom (Senior Statutory Auditor)

Date: 21 April 2026

For and on behalf of TC Group 1-4 London Road Spalding Lincolnshire PE11 2TA

TC Group is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page: 9

HUNTINGDON GYMNASTICS CLUB LIMITED

Statement of Financial Activity (including income and expenditure account)

for the year ended 31 July 2025

Notes
Income and endowments from:
Donations and legacies
2
Investments
3
Charitable activities
4
Other
Total income
Expenditure on:
Charitable activities
5
Bursaries granted to gymnasts and coaches
5
Interest payable
5
Total expenditure
Net (expenditure) / income
Transfers between funds
Net movement in funds
Fund balances brought forward
12
Fund balances carried forward
12		 Unrestricted

funds
£
3,834
7,016
1,008,738
301
1,019,889
1,065,556
-
-
1,065,556
(45,667)
(276)
(45,943)
297,427
251,484		 2025
Restricted
funds
£
3,212
-
-
-
3,212
25,214
1,176
-
26,390
(23,178)
276
(22,902)
1,003,331
980,429		 Total
£
7,046
7,016
1,008,738
301
1,023,101
1,090,770
1,176
-
1,091,946
(68,845)
-
(68,845)
1,300,758
1,231,913		 2024
Total
£
9,919
5,847
945,249
413
961,428
898,203
474
1,081
899,758
61,670
-
61,670
1,239,088
1,300,758

All income and expenditure derive from continuing activities.

The statement of financial activity includes all gains and losses recognised during the year.

The notes on pages 13 to 21 form part of these financial statements

Page: 10

HUNTINGDON GYMNASTICS CLUB LIMITED

Balance Sheet

at 31 July 2025

2025
Note
£
£
Fixed assets
Tangible fixed assets
8
1,048,959
Current assets
Debtors
9
22,579
Cash at bank and in hand
203,953
226,532
Creditors:
Amounts falling due within one year
10
(43,578)
Net current assets
182,954
Net assets
1,231,913
Income funds
Unrestricted funds
12
251,484
Restricted funds
12
980,429
1,231,913		 2024
£
£
1,088,663
17,636
232,950
250,586
(38,491)
212,095
1,300,758
297,427
1,003,331
1,300,758		 2024
£
£
1,088,663
17,636
232,950
250,586
(38,491)
212,095
1,300,758
297,427
1,003,331
1,300,758
1,300,758
297,427
1,003,331
1,300,758

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standards applicable in the UK and Republic of Ireland'.

These financial statements were approved by the Trustees on 8 April 2026 and are signed on their behalf.

….................................

Mrs Z McGowen Director

Company Number:- 06501296

The notes on pages 13 to 21 form part of these financial statements

Page: 11

HUNTINGDON GYMNASTICS CLUB LIMITED

Statement of Cash Flows

for the year ended 31 July 2025

Note
Cash flow from operating activities
(Deficit) / surplus for the year
Adjustments for:
Interest received
3
Depreciation of tangible fixed assets
5
Profit on disposal of fixed assets
Movements in working capital:
Increase in debtors
(Increase) / decrease in creditors
Cash flows from investing activities
Receipts from sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sales of tangible fixed assets
Interest received
3
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Cash and cash equivalents consists of:
Cash at bank and in hand		 2025
£
£
(68,845)
(3,888)
47,857
-
(4,943)
5,087
(24,732)
(8,153)
-
3,888
(4,265)
(28,997)
232,950
203,953
203,953		 2024
£
£
61,670
(2,720)
42,646
266
(4,152)
(10,433)
87,277
(26,489)
2
2,720
(23,767)
63,510
169,440
232,950
232,950		 2024
£
£
61,670
(2,720)
42,646
266
(4,152)
(10,433)
87,277
(26,489)
2
2,720
(23,767)
63,510
169,440
232,950
232,950		 2024
£
£
61,670
(2,720)
42,646
266
(4,152)
(10,433)
87,277
(26,489)
2
2,720
(23,767)
63,510
169,440
232,950
232,950
63,510
169,440
232,950
232,950

The notes on pages 13 to 21 form part of these financial statements

Page: 12

HUNTINGDON GYMNASTICS CLUB LIMITED Notes to the Financial Statements

for the year ended 31 July 2025

1. Accounting policies

Huntingdon Gymnastics Club is company limited by guarantee registered in England and Wales. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office of the charity is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities is the promotion of community participation in healthy recreation for the benefits of the inhabitants of Huntingdon and the surrounding area by the provision of facilities for the sport of gymnastics.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees / directors believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements and estimates have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Estimation of useful life - The useful economic life used to depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management’s estimate of the period over which economic benefit will be derived from the asset.

Estimation of residual value - The residual value of an asset is the estimated fair value of that asset at the end of its useful economic life and therefore is also dependent upon the estimation of that life span. Historically, changes to the useful economic life and residual values have not had a material impact on the depreciation amount charged to the profit and loss.

Cut off - The only estimation applied by the directors was in the consideration of cut-off where an estimation of the costs relating to the relevant period were applied when relating to a different period.

Details for these items are included within the accounting policies below.

Page: 13

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

1. Accounting policies (continued)

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be realised and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Charitable activities include the costs of the activities defined by the charity's aims for the benefit of the persons sited in the charity objects. Costs of charitable activities includes the direct costs of the activities and depreciation on related assets. Where such assets relate to more than one functional cost category, they have been allocated on either an estimate time or floor space basis, as appropriate.

Support costs include the costs which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and program or project work.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Depreciation

Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates generally applicable are:

Leasehold property - Improvements 2% on cost Equipment 25% on cost

Page: 14

HUNTINGDON GYMNASTICS CLUB LIMITED Notes to the Financial Statements (continued)

for the year ended 31 July 2025

1. Accounting policies (continued)

Fixed assets

Fixed assets are included at cost, less accumulated depreciation.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Pension costs

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Restricted funds

Restricted funds can only be used in accordance with specific restrictions and the furtherance of the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which complies with these criteria is identified to the fund.

Unrestricted funds

Unrestricted funds are available for use at the discretion of the trustees in sustenance of the objectives of the charity and which have not been designated for other purposes.

Designated funds

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Page: 15

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

2. Income from donations and legacies

2025
Donations
Grants
Grant income breakdown
Institutional
Commercial
2024
Donations
Grants
Grant income breakdown
Institutional
Income from investments
(All Unrestricted)
Rental income
Interest receivable
Income from charitable activities
(All Unrestricted)
Gym Fees
Membership subscriptions
Toddler Sessions
Private Hire and Parties
Competitions
Other sales		 Unrestricted
funds
£
834
3,000
3,834
3,000
-
3,000
Unrestricted
funds
£
1,486
5,000
6,486
5,000		 Restricted
funds
£
-
3,212
3,212
2,810
402
3,212
Restricted
funds
£
-
3,433
3,433
3,433
2025
Total
£
3,128
3,888
7,016
2025
Total
£
853,562
44,217
46,774
39,464
22,162
2,559
1,008,738		 Total
£
834
6,212

7,046
5,810
402
6,212
Total
£
1,486
8,433

9,919
8,433
2024
Total
£
3,127
2,720

5,847
2024
Total
£
791,264
43,532
49,379
35,646
22,844
2,584

945,249

3. Income from investments

4. Income from charitable activities

Page: 16

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

5. Expenditure on charitable activities

2025
General gym activities
Unrestricted
Restricted
£
£
Activities undertaken directly
721,417
-
Support costs:
Other operating costs
141,563
-
Staff costs
119,117
-
Consultancy fees
2,450
-
Depreciation
22,643
25,214
Bursaries granted to gymnasts and coaches
-
1,176
Governance costs
Auditors fees
3,920
-
Accountancy and payroll
11,888
-
Property consultants
7,550
-
Other Consultancy fees
5,373
-
Bank charges
1,997
-
Other costs
27,638
-
1,065,556
26,390		 Total
£
721,417
141,563
119,117
2,450
47,857
1,176
3,920
11,888
7,550
5,373
1,997
27,638
1,091,946

Costs directly attributable to a specific project have been analysed to that project as an exact amount.

The remaining costs which are not specific are considered allocated costs of charitable activities and have been apportioned to the relevant activity based on a considered proportion of costs relating to that activity.

2024
General gym activities
Unrestricted
£
Activities undertaken directly
598,038
Support costs:
Other operating costs
129,801
Staff costs
90,573
Consultancy fees
163
Depreciation
11,340
Loss on disposal of fixed assets
266
Bursaries granted to gymnasts and coaches
174
Governance costs
Accountancy and payroll
9,216
Independent examination fees
1,450
Other Consultancy fees
1,386
Bank charges
2,243
Interest payable
1,081
Other costs
19,978
865,709		 Restricted
£
2,147
296
-
-
31,306
-
300
-
-
-
-
-
-
34,049		 Total
£
600,185
130,097
90,573
163
42,646
266
474
9,216
1,450
1,386
2,243
1,081
19,978
899,758

6. Board of Trustees remuneration

No trustee (or any persons connected with them) received any remuneration or expenses either directly or indirectly.

Page: 17

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

Employee emoluments
Wages and salaries
Other benefits
Social security costs
Defined contribution pension costs
Number of employees
Coaching staff
Administration staff		 2025
Total
£
760,195
1,275
45,209
14,097
820,776
36
7
43		 2024
Total
£
616,070
2,877
41,566
13,555
674,068
36
5
41

7. Employee emoluments

There were no employees who received emoluments exceeding £60,000 in either the current or prior year.

8. Tangible fixed assets

Cost
At 31 July 2024
Additions
At 31 July 2025
Depreciation
At 31 July 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 30 July 2024		 Leasehold
Property
£
1,299,397
-
1,299,397
259,854
25,988
285,842
1,013,555
1,039,543		 Equipment
£
390,384
8,153
398,537
341,264
21,869
363,133
35,404
49,120		 Total
£
1,689,781
8,153

1,697,934
601,118
47,857

648,975
1,048,959
1,088,663

9. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2025
Total
£
11,845
3,526
7,208
22,579		 2024
Total
£
13,293
-
4,343

17,636

Debtor due after more than one year

Included within 'Other debtors' is an amount of £1,218 which falls due after more than one year. However, as an employee loan it will fall due should that employee leave within one year.

Page: 18

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

10. Creditors: Amounts falling due within one year

Trade Creditors
Taxes and social security costs
Other creditors - Defined contribution pension costs
Accruals
Deferred Income		 2025
Total
£
7,015
1,915
2,772
7,384
24,492
43,578		 2024
Total
£
4,082
1,204
3,610
3,016
26,579
38,491

Deferred income represents income received in advance for classes or events that take place in the following period.

11. Related party transactions

There are no related party transactions during the current or comparative periods.

12. Funds

2025
Unrestricted funds
General Fund
Restricted funds
Building costs
Sharpington Hall Floor
Young Coaches Training
Equipment
Bursaries		 At 1 Aug
2024
£
297,427
986,315
10,719
5,897
-
400
1,003,331
1,300,758		 Incoming
resources
£
1,019,889
-
-
2,310
402
500
3,212
1,023,101		 Outgoing
resources
£
(1,065,556)
(24,660)
(554)
-
(1,176)
(26,390)
(1,091,946)		 Transfers
£
(276)
-
-
-
276
276
-		 At 31 Jul
2025
£
251,484

961,655
10,165
8,207
402
-
980,429

1,231,913

The funds are constituted as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year		 Unrestricted
£
77,139
22,579
195,344
(43,578)
251,484		 2025
Restricted
£
971,820
-
8,609
-
980,429		 Total
£
1,048,959
22,579
203,953
(43,578)
1,231,913

Transfers

The transfer of funds relates to restricted funds having met their requirements, e.g. spent on the relevant fixed assets. There is no expectation for those assets to be sold and therefore will be maintained with all other assets.

Page: 19

HUNTINGDON GYMNASTICS CLUB LIMITED

for the year ended 31 July 2025

Notes to the Financial Statements (continued)

12. Funds continued…

Restricted funds descriptions

Building costs - This fund is regarding the original funding for the building of the 2012 hall and contains funding for the refurbishment of the toilets and changing rooms.

Sharpington Hall Floor - Grants received towards the replacement of Sharpington Hall floor.

Young Coaches training - a grant to help fund the trainee coach initiative, targeting gymnasts between 14 and 16. It funds a trainee coach programme which will enable them to become qualified coaches in the future.

Equipment - Funds donated for the purpose of acquiring new equipment.

Bursaries - relate to donations received to enable the club to provide a bursary towards costs for gymnasts or coaches.

2024
Unrestricted funds
General
Restricted funds
Building costs
Sharpington Hall Floor
Young Coaches Training
Equipment
Bursaries		 At 1 Aug
2023
£
204,465
1,010,974
17,366
5,111
972
200
1,034,623
1,239,088		 Incoming
resources
£
957,995
-
-
2,933
-
500
3,433
961,428		 Outgoing
resources
£
(865,709)
(24,659)
(6,647)
(2,147)
(296)
(300)
(34,049)
(899,758)		 Transfers
£
676
-
-
-
(676)
-
(676)
-		 At 31 Jul
2024
£
297,427
986,315
10,719
5,897
-
400
1,003,331

1,300,758

The funds are constituted as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year		 Unrestricted
£
91,629
17,636
226,653
(38,491)
297,427		 2024
Restricted
£
997,034
-
6,297
-
1,003,331		 Total
£
1,088,663
17,636
232,950
(38,491)
1,300,758

13. Operating leases

At 31 July, the charity had total future minimum lease payments under non-cancellable operating leases as set out below:

Not later than one year
Later than one and not later than five years		 2025
Total
£
3,049
6,930		 2024
Total
£
4,436
9,979

14. Controlling party

The charity is controlled by the Board of Trustees and no individuals can or do exert control.

Page: 20

HUNTINGDON GYMNASTICS CLUB LIMITED

Notes to the Financial Statements (continued)

for the year ended 31 July 2025

15. Statement of financial activities - fund comparatives

Statement of financial activities - fund comparatives
Income and endowments from:
Donations and legacies
Investments
Charitable activities
Other
Expenditure on:
Expenditure on charitable activities:
Charitable activities
Bursaries granted to gymnasts and coaches
Interest payable
Net income / (expenditure)		 Unrestricted
funds
£
6,486
5,847
945,249
413
957,995
864,628
-
1,081
865,709
92,286		 2024
Restricted
funds
£
3,433
-
-
-
3,433
32,873
1,176
-
34,049
(30,616)		 Total
£
9,919
5,847
945,249
413
961,428
897,501
1,176
1,081

899,758
61,670

Page: 21