North East London Gymnastics Club Ltd
(A company limited by guarantee)
Report and Financial Statements
Year ending 31 December 2024
Charity number 1133248
Company number: 07018434

NORTH EAST LONDON GYMNASTICS CLUB LTD
Report of the trustees for the year ending 31 December 2024
The trustees are pleased to present their annual directors, report together with the
consolidated financial statements of the charity and its subsidiary for the year ending 31
December 2024 which are also prepared to meet the requirements for a directors, report
and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective 1 January 2015).
Our purposes and activities are .
the promotion of community participation in healthy recreation, in particular, by the
provision of facilities for the participation in gymnastics;
provision of facilities for recreation;
advancement of education;
In setting our objectives and planning our activities, the trustees have considered the
Charity Commission's guidance on public benefit, including the guidance on public benefit
and fee charging. The Club relies on fee income, grants, income from schools, fundraising
and donations. In setting the fees and charges, the trustees have given careful
consideration to the accessibility of the Club for those on low incomes.
Charitable purpose
The law requires all charities to demonstrate that their charitable purposes or aims are for
the public benefit. The following Public benefit Statement has been written with guidelines
issued by The Charity Commission for England and Wales.
The following are the main activities undertaken for the public benefit in relation to these
objectives:
the provision of gymnastics for children and adults in the local community.
the provision of courses, events, displays and coaching for people in the local
community
and for coaches who organise or supervise the teaching of gymnastics;
promotion and provision of training of coaches for the purpose of training gymnasts;
to equip and maintain gymnastics facilities for the teaching and training of gymnastics;
the provision of free training courses in first aid, safeguarding children and gymnastics
coaching for volunteers and young people in the community;
the provision of volunteering opportunities for young people in the local community.
the provision of subsidised places for gifted gymnasts whose families are on low income;
the provision of work experience for young people and adults in the local community;
Page 1

to provide low cost and free holiday programmes-
to provide financial assistance to gymnasts whose families are on low income"
to employ coaches and other staff to further the objectives above.
How our activities deliver public benefit
Our purpose as a sports charity is to provide a suitable environment for the participation
and enjoyment of gymnastics, primarily, but not exclusively, to children under 16. The club
has invested in updated equipment and safety measures, ensuring that our gymnasts have
access to a safe and well-mainlained environment for their training and competitions.
Training and Development: In 2024, we provided top-notch training and coaching to over
500 young athletes, ensuring their continued growth and progress in both recreational and
competitive gymnastics. Our dedicated leam of qualified coaches has worked tirelessly to
enhance the skills and confidence of each gymnast, fostering a supportive and nurturing
environment. The Charity also delivers public benefit through our training and mentoring
program to assist people from the local community to gain work experience and vocational
qualilications to help them into employment. 14 young people participated in the trainee
coach program during 2024 where we provide fortnightly workshops and hands on
experience of coaching.
Incluslvlty and Dlverslty: Our commitment to inclusivity and diversity has been a major
focus for us. This year we have moved from British Gymnastics to Independent
Gymnastics Association as this has reduced Ihe club's costs for comprehensive insurance
cover and the cost to our members. They also provide a more extensive competition
program which we hope will enable more children to be involved in our competitive
gymnastics program. A wide range of classes are available for all ability levels and ages,
with progression routes al all levels. We believe equal access to our services is vital to our
success and that successful outcomes must be shared by all communities so we can
support children and families lo thrive. We have actively sought to creale opportunities for
individuals from varying backgrounds by expanding our subsidised programs and seeking
partnerships with local schools and charitable organisations in the community. We engage
with local schools and community groups to understand the needs of local residents so we
can beller tackle health inequalities. We monitor who accesses our services and use this
data to understand the local community and better meet its needs. We have increased our
concessionary program to provide low cost sessions and additional subsidies for more low
income families. We have worked hard to maintain our services for our existing members
and open up opportunities to increase our provisions. We have maintained capacity
throughout the year and offered regular weekly gymnastics classes and taster sessions to
over 500 young people during the year. Many of these young people train several times
each week. We continue to provide 70 classes each week and have provided over 7,000
hours of coaching.
Page 2

Community Engagement: Engaging with our community has always been a priority for
the North East London Gymnastics Club. Throughout the year. we organised numerous
events, including taster sessions, compelitions, and workshops. bringing people together
and spreading awareness about the benefits of gymnastics. The strength of feeling for the
club and its value to the community has been clearly shown by the support from our
current users and the local community. Demand for our services remains high and we
continue to have an extensive waiting list. In 2024 we offerred 220 new gymnasts the
chance to try out our classes and consider joining us for the 2024 programme. We're
delighted to announce that over 900/0 of them have accepted a place in our gymnastics
club after their trial period! The majority ol the people who join come through word of
mouth from recommendations.
Donated goods, facilities and services, including volunteers
We continued our scheme to recycle club gymnastics clothing and reducing waste. We
have also changed clothing supplier to get the most affordable option for our members.
This is helping people on low income and helping reduce the production of new clothing.
We continue to offer volunteering opportunities at the club, the leadership academy
continues to be a success and provide opportunities for young people and adults to
volunteer and learn leadership and life skills. The leadership academy primarily gain work
experience by assisting with coaching, judging and event management. They work
alongside our qualified staff and are given opportunities to gain nationally recognised
qualifications in coaching, judging, first aid and safeguarding. Most of the leadership group
assisls in one - three sessions a week. 14 young people participated in the trainee coach
program during 2024 and the scheme is lead by 3 mentors and 1 welfare off icer.
Objectives for the year
At the start of the year the main objectives were:
To renew the lease and request a longer lease to give The Club more security.
To reconfigure the front entrance to allow viewing opportunities and ensure secured toilet
access for the gymnasts.
To look at new methods of recruitment so club capacity can continue to grow.
To identify new sources of funding.
To continue to provide a high quality coaching to give children the opportunity to reach
their full potential in gymnastics.
To maintain the existing program and continue to develop based on high quality
coaching. To train local residents into employment and continue to offer employment
opportunities. To expand the young leaders program, making young people more
confident and more employable.
To work with volunteers to improve their skills and ensure they are valued in the
community.
Page 3

To continue to increase the places available for people who find it hard to access the
services.
To continue to provide opportunities for gifted and talented children.
Conlinuing the activities outlined above in the forthcoming years subject to satisfactory
funding arrangements.
Achievements and performance
We aim to ensure that our classes are affordable and accessible to as many children as
possible. In 2024 we have continued to offer a concessionary rate for: all classes, club
memberships, competitions and clothing hire to members who needed assistance due to
low income. We also continued our successful recycling scheme for the clothing offerring
low cost club clothing and swap options to our members and new users.
Tumbling Stars gymnasts have put in a tremendous amount of hard work and effort this
year, with an impressive 215 athletes successfully completing at least one award level and
moving into a more advanced class. In our summer club grading, an incredible 175
participants took part across four levels of competition and we're thrilled to report that
every single gymnast successfully completed their level! 50 gymnasts from The Club took
part in Ihree London Region Competitions this year and came away with an impressive 19
medals at the Gymnastics For All event, along with 24 ribbons and 3 trophies! All the
gymnasts finished the year with 18 performances of our end of year display of 'Elf on the
Shelf,, where they showcased their progress and talents to family and friends.
Despile challenges early in the year with staff recruitment and retention, we maintained
capacity in our classes. Later in the year our successful recruitment campaign lead to a
new gymnastics manager and 2 additional qualified coaches who have joining the team. 4
trainee coaches completed their level 1 British Gymnastics Coaching Course. 14 young
people joined or continued with our successful Trainee Program.
Welfare and Mental Health
During the course of the year the Club Welfare Officer has continued to keep updated with
the information and successfully transferred qualifications and the club welfare policies to
our new governing body Independent Gymnastics Association.
The mental health of all of our members be it gymnasts, their parents or our team of staff
and volunteers is at the forefront of our thinking at the club. We have increased the
amount of support we can offer our staff by employing a dedicated Gym Manager.
Conversations are initiated to check on individuals wellbeing, pay is regularly reviewed to
ensure that the cost of living does not have a negative effect on staff and any local
authority support is publicised to our members. The concessionary fee discount is open to
Hackney residents and can be accessed by both existing or new members.
Page 4

Financial review
In setting our objectives and planning our activities, the trustees have due regard to
guidance published by the Charities Commission on public benefit, including the guidance
on public benefit and fee charging. The Club relies on fee income, grants and donations. In
setting the fees and charges, the trustees have given careful consideration to the
accessibility of The Club for those on low incomes. Our principal source of income is our
training fees which have increased with increased numbers of participants. There have
been increased costs due lo increasing staff wage rises.
The Charity's operating income and total sales were £303,320. The Charity made an
operaling profit of £35,118 during this year. With the aid of sound financial management
and the support of both its staff and volunteers the charity has funds of £205,000 at the
end of 2025. There are no restricted funds. The Charity agreed that no increase in fees
was required as we move into 2026.
Reserves Policy
The Management Committee has examined the charity's requirements for resenies in light
of the main risks to the organisation. The main risk is the uncertainty of the new proposed
short lease agreement with Hackney Council. It has established a policy whereby the
unrestricled funds not committed or invested in tangible fixed assets held by the charity
should be between 4 and 6 months of the expenditure. The presenl level of reserves of
falls within this target level the intention is to maintain this reserve fund to protect against
flucluations in cash flow.
Going Concern
After making appropriate enquiries, The Trustees have a reasonable expeclation that The
Charity has adequate resources to continue in operational existence for the foreseeable
future. For this reason they continue to adopt the going concern basis in preparing the
financial statements.
Plans for future periods:
To renew the lease to ensure the continuation of The Club at the current venue. To
upgrade the mini gym facility in the basement with new high bar and update the matting to
provide an improved training facility. This along with our continued coaches training
program for coaches will assist with increasing capacity. To identify new sources of
funding. To continue to provide a high quality coaching to give children the opportunity to
reach their full potential in gymnastics. To maintain the existing program and continue to
develop based on high quality coaching. To train local residents into employment and
continue to offer employment opportunities. To expand the young leaders program,
making young people more confident and more employable. To work with volunteers to
improve their skills and ensure they are valued in the community. To continue to increase
the places available for people who find it hard to access the services. To continue to
provide opportunities for gifted and talented children. To increase the number of qualified
Page 5

staff and offer in house Gymnastics courses for staff. Despite difficulties in accessing
grants primarily due to the ongoing issues with the lease the charity plans continuing the
activities outlined above in the forthcoming years subject to satisfactory funding
arrangements.
Structure, Governance, Management and administrative details of the charity, its
trustees and advisers 31 December 2025
Governing document
The Charity is controlled by its governing document the memorandum and articles of
association dated the 14th September 2009. The Charity is a limited company, limited by
guaranlee, as defined by the Companies Act 2006.
Statement of Trustees Responsibilities
The Trustees are responsible for ensuring that the charity complies with Charity Law, and
with the requirements of the Charity Commission as regulator; in particular, ensure that the
charity prepares reports on what it has achieved and Annual Returns and accounts as
required by law. Financial statements for each financial year must give a true and fair view
of the stale of the affairs of the charitable company as at the balance sheet date and of its
incoming resources and application of resources, including income and expenditure, for
the financial year. In preparing those financial statements, the trustees should follow best
practice.
The Trustees direct the affairs of the Charity and ensure that it is solvent, well-run, and
delivering the charitable outcomes for the benefit of the public for which it has been set up.
Using charitable funds and assets reasonably, and only in furtherance of the charity's
objects. Avoiding undertaking activities that might place the charity's funds, assets or
reputalion at undue risk. All Trustees give their time voluntarily and received no benefits
from the charity.
The General Manager/ Club Manager is appointed by The Trustees to manage the
day-tO- day activities of the charity.
Lara Everall was appointed Club Manager in January 2009 and is the staff member
responsible for day-to-day management of the club who is, amongst other things,
responsible for day-to-day financial management.
Related parties
North East London Gymnastics Club Ltd is a tenant of Hackney Council. The club remains
a completely independent business.
Recruitment and appointment of new trustees
Prospective new trustees are normally proposed by existing club members who may or
may not be trustees for formal election at the club's AGM. Prior to their election
prospective trustees are offerred the opportunity to attend at least one board meeting as
an observer to properly understand the working of the board. Trustees meet a minimum of
twice a year for extraordinary general meetings. At the annual general meeting one-third of
Page 6

the trustees or, if their number is not three or a multiple of three, the number nearest one-
third retires from office. If the position is not filled the retiring trustee, if willing to act, shall
be eligible to be reappointed.
Induction and training of new trustees
New Trustees, with appropriate skills, are selected at the Annual General Meeting of the
Club. New Trustees are made aware of their responsibilities as Trustees through an
induction session where Ihey familiarise Ihemselves with the charity and how it operates.
The trustees are provided wilh the main documents setting out how the charity operates,
the latest accounts, future plans for the organisation and charity commission guidance on
becoming a trustee. They are encouraged to undertake such personal training for their
duties as they consider necessary. A knowledge of gymnastics is desirable.
Risk Management
The Truslees have assessed the major risks to which the charity is exposed, in particular,
those related to the operations and finances of the charity, and are satisfied that systems
and procedures are in place lo mitigate our exposure to the major risks.
The Trustees have identified and actively reviewed the major risks to which the charity is
exposed, as follow:
A. Physical injury to staff or members in the performance of their Activities.
B. Major costs of renewing and maintaining the Association's premises and Equipment.
C. Loss of use of the Association's premises.
In each case, appropriate steps have been taken to mitigate these risks.
Reference and Administrative Information
Charity Name: North East London Gymnastics Club LTD NELGC (Working
Name ) Charity registered number: 1133248
Company Registration number: 07018434
Registration history: 11 th December 2009
Governing document: Memorandum and articles of association
Incorporated:
Registered Office and operalional address: 46 Milton Grove Stoke Newington London
N168QY
Trustees
Damon Collins (Treasurer), Tracy Hill (Welfare Officer), Trevor Collins (Chair Person),
Lucy Coates and Lucy Joslin
Directors
Lara Everall, Damon Collins and Tracy Hill
Bankers:
Barclays Bank
Page 7

3-5 Kingsland High St London E8 2JT
Independent Gymnastics Association-
IGA, Unit 6 Edison Business Centre
52 Edison Road
Aylesbury
Buckinghamshire
HP19 8TE
Company Secretary:
Tracy Hill
Legal:
Farillio Limited, 128 City Road, London, England, EC1 V 2NX
Independent auditors:
Goldwins Limited, 75 Maygrove Road, London NW6 2EG
Trustee: Tracy Hill
Signed:
Daled: 03110125
Page 8

## _NORTH EAST LONDON GYMNASTICS CLUB LTD_ 

## **Independent examiner’s report to the trustees of North East London Gymnastics Club Ltd** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

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

## **Independent examiner’s statement** 

Since the Company’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the 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. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across any 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. 

Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG 

9 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD** 

## **Statement of financial activities** 

(incorporating an income and expenditure account) 

## **For the year ended 31 December 2024** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>Charitable activities:<br>Sports activities<br>**3**<br>Investment income<br>**4**<br>**Total income**<br>**Expenditure on:**<br>Charitable activities:<br>**5**<br>Sports activities<br>**Total expenditure**<br>**6**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**Net income / (expenditure) for the year**|**Unrestricted**<br>**£**<br>795<br>299,201<br>4,120<br>.<br>**304,116**<br>271,642<br>**271,642**<br>**32,474**<br>167,997<br>**200,471**|**Restricted**<br>**£**<br>-<br>-<br>-<br>**-**<br>-<br>**-**<br>**-**<br>-<br>**-**|**2024**<br>**Total**<br>**£**<br>795<br>299,201<br>4,120<br>**304,116**<br>**271,642**<br>**271,642**<br>**32,474**<br>**167,997**<br>**200,471**|2023<br>Total<br>£<br>2,044<br>260,323<br>496|
|---|---|---|---|---|
|||||262,863|
|||||244,689|
|||||244,689|
||||||
|||||18,174|
|||||149,823|
|||||167,997|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. 

10 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD** 

## **Balance sheet** 

## **As at 31 December 2024** 

|**Note**<br>**Fixed assets**<br>**9**<br>**Current assets:**<br>Debtors<br>**Liabilities:**<br>**10**<br>**12**<br>Total unrestricted funds<br>**Funds**<br>General funds<br>**Total funds**<br>Unrestricted funds:<br>Restricted funds<br>Creditors: amounts falling due within one year<br>**Net current assets**<br>**Total net assets**<br>Cash at bank and in hand|**2024**<br>**£**<br>**105**<br>**201,090**|**2024**<br>**£**<br>**1,745**|**2023**<br>£<br>153<br>170,313|**2023**<br>£<br>-<br>167,997|
|---|---|---|---|---|
|||**198,726**|||
||**201,195**<br>**2,469**||170,466<br>2,469||
||**200,471**||167,997||
|||**200,471**||167,997|
|||**-**<br>**200,471**||-<br>167,997|
||||||
|||**200,471**||167,997|



For the financial year ended 31 December 2024, the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006, and no notice has been deposited under Section 476. However, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner whose report appears on page 10. The directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with Section 386 of the Act and preparing Financial Statements which give a true and fair view of the state of affairs of the Company as at the end of the period and of its profit or loss for the financial period in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Company. 

The Financial Statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. 

Approved by the trustees on ..........................03/10/25 and signed on their behalf by: 

**Mr Damon Collins Trustee** 

## **Company registration no. 07018434** 

The attached notes form part of the financial statements. 

11 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements** 

## **For the year ended 31 December 2024** 

## **1 Accounting policies** 

## **a) Basis of preparation** 

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 (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006. 

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 

## **b) Going concern** 

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.  The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 

## **c) Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

## **d) Donations of gifts, services and facilities** 

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 

## **e) Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

## **f) Fund accounting** 

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. 

## **g) Expenditure and irrecoverable VAT** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. 

- Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. 

- Other expenditure represents those items not falling into any other heading. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

12 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements** 

## **For the year ended 31 December 2024** 

## **h) Allocation of support costs** 

- Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5. 

## **i) Operating leases** 

Rental charges are charged on a straight line basis over the term of the lease. 

## **j) Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **k) Cash at bank and in hand** 

- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **l) Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

13 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2024** 

|**2**<br>**Detailed comparatives for the statement of financial activities**<br>**Income from:**<br>Donations and legacies<br>Charitable activities:<br>Sports activities<br>Investment income<br>Other income<br>**Total income**<br>**Expenditure on:**<br>Charitable activities:<br>Sports activities<br>**Total expenditure**<br>**Net income / expenditure**<br>Transfers between funds<br>**Net movement in funds**<br>Total funds brought forward<br>**Total funds carried forward**<br>**3**<br>**Income from charitable activities**<br>Unrestricted<br>£<br>Sports activities<br>299,201<br>**Total income from charitable activities**<br>299,201<br>**4**<br>**Income from investments**<br>Unrestricted<br>£<br>Bank interest<br>4,120<br>4,120|<br>2023<br>£<br>2,044<br>260,323<br>496<br>-<br>262,863<br>244,689<br>244,689<br>18,174<br>-<br>18,174<br>149,823<br>167,997<br>£<br>-<br>-<br>£<br>-<br>-<br>Restricted<br>Restricted<br>Unrestricted|2023<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**2024**<br>**Total**<br>**£**<br>**299,201**<br>**299,201**<br>**2024**<br>**Total**<br>**£**<br>**4,120**<br>**4,120**<br>Restricted|2023<br>Total<br>£<br>2,044<br>260,323<br>496<br>-|
|---|---|---|---|
||||262,863|
||||244,689|
||||244,689|
||||18,174<br>-|
||||18,174<br>149,823|
||||167,997|
||||2023<br>Total<br>£<br>260,323|
||||260,323|
||||2023<br>Total<br>£<br>496|
||||496|



14 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements For the year ended 31 December 2024** 

## **5 Analysis of expenditure** 

|Basis of<br>allocation<br>Purchases<br>Direct<br>**Support costs**<br>Wages and salaries<br>Direct<br>Employer`s pension<br>Direct<br>Staff training<br>Direct<br>Rent<br>Direct<br>Light and Heat<br>Direct<br>Repairs and maintenance<br>Direct<br>Cleaning<br>Direct<br>Computer and IT consumables<br>Direct<br>Depreciation<br>Direct<br>Insurance<br>Direct<br>Telecommunications<br>Direct<br>Accountancy fees<br>Direct<br>Professional fees<br>Direct<br>Bank charges<br>Direct<br>Sundry<br>Direct<br>**Total expenditure 2024**<br>Total expenditure 2023|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**-**<br>**-**<br>Cost of<br>raising funds|Charitable<br>Sports activities<br>£<br>12,499<br>194,852<br>5,979<br>877<br>25,000<br>7,679<br>175<br>4,261<br>2,783<br>159<br>-<br>773<br>2,314<br>8,243<br>3,787<br>2,261<br>**271,642**<br>**244,689**|**2024 Total**<br>**£**<br>**12,499**<br>**194,852**<br>**5,979**<br>**877**<br>**25,000**<br>**7,679**<br>**175**<br>**4,261**<br>**2,783**<br>**159**<br>**-**<br>**773**<br>**2,314**<br>**8,243**<br>**3,787**<br>**2,261**<br>**271,642**|2023 Total<br>£<br>6,633<br>185,072<br>2,837<br>260<br>25,000<br>5,411<br>558<br>6,536<br>1,752<br>-<br>560<br>576<br>2,173<br>2,289<br>4,159<br>873|
|---|---|---|---|---|
|||||**244,689**|
|||||**244,689**|



Of the total expenditure £244,689 was unrestricted (2023: £271,642) and Nil  was restricted (2023: £0). 

15 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements** 

## **For the year ended 31 December 2024** 

- **6 Net income / (expenditure) for the year** 

|This is stated after charging / (crediting):<br>Property operating lease rentals<br>Independent examiner fee|**2024**<br>**£**<br>-<br>1,900|2023<br>£<br>-<br>1,980|
|---|---|---|



## **7 Analysis of staff costs, trustee remuneration and expenses, and cost of key management personnel** Staff costs were as follows: 

|Salaries and wages<br>Employer`s pension|**2024**<br>**£**<br>**194,852**<br>**5,979**|2023<br>£<br>188,694<br>3,156|
|---|---|---|
||**200,831**|**191,850**|



The total employee benefits including pension contributions of the key management personnel were £54,300 (2023: £60,270). 

## **Staff numbers** 

The average number of employees (head count based on number of staff employed) during the year was as follows: 

|ollows:|||
|---|---|---|
|Support|**2024**<br>**No.**<br>**18**|2023<br>No.<br>23|
||**18**|**23**|



- **8 Taxation** 

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## **9 Tangible fixed assets** 

|**Tangible fixed assets**|||
|---|---|---|
|Cost at the start of the year<br>Additions in year<br>Cost at the end of the year<br>Depreciation at the start of the year<br>Charge for the year<br>Depreciation at the end of the year<br>**Net book value**<br>**Creditors: amounts falling due within one year**<br>Taxation and social security<br>Accruals and other creditors|**Computer**<br>**Equipment**<br>-<br>1,904|**2024**<br>**Total**<br>**-**<br>**1,904**|
||1,904<br>-<br>159|**1,904**<br>**-**<br>**159**|
||159|**159**|
||1,745|**1,745**|
||**2024**<br>**£**<br>**-**<br>**2,469**|2023<br>£<br>-<br>2,469|
||**2,469**|**2,469**|



## **10 Creditors: amounts falling due within one year** 

16 



## **NORTH EAST LONDON GYMNASTICS CLUB LTD Notes to the financial statements** 

## **For the year ended 31 December 2024** 

## **11 Analysis of net assets between funds** 

|Fixed Assets<br>Net current assets<br>**Net assets at the 31 December 2024**<br>**Analysis of net assets between funds 2023**<br>Net current assets<br>**Net assets at the 31 December 2023**<br>**12**<br>**Movements in funds**<br>£<br>**Unrestricted funds:**<br>**General funds**<br>167,997<br>**Total unrestricted funds**<br>**167,997**<br>**Total restricted funds**<br>**-**<br>**Total funds**<br>**167,997**<br>**Movements in funds 2023**<br>£<br>**Unrestricted funds:**<br>**General funds**<br>149,823<br>**Total unrestricted funds**<br>149,823<br>**Total restricted funds**<br>**-**<br>**Total funds**<br>149,823<br>At 1<br>January<br>2024<br>At 1 Jan<br>2023|Fixed Assets<br>Net current assets<br>**Net assets at the 31 December 2024**<br>**Analysis of net assets between funds 2023**<br>Net current assets<br>**Net assets at the 31 December 2023**<br>**12**<br>**Movements in funds**<br>£<br>**Unrestricted funds:**<br>**General funds**<br>167,997<br>**Total unrestricted funds**<br>**167,997**<br>**Total restricted funds**<br>**-**<br>**Total funds**<br>**167,997**<br>**Movements in funds 2023**<br>£<br>**Unrestricted funds:**<br>**General funds**<br>149,823<br>**Total unrestricted funds**<br>149,823<br>**Total restricted funds**<br>**-**<br>**Total funds**<br>149,823<br>At 1<br>January<br>2024<br>At 1 Jan<br>2023|General<br>unrestricted<br>£<br>1,745<br>198,726|Designated<br>£<br>-|Restricted<br>£<br>-|**Total**<br>**funds**<br>**£**<br>1,745<br>198,726|
|---|---|---|---|---|---|
|||**200,471**|-|**-**|**200,471**|
|||General<br>unrestricted<br>£<br>167,997|Designated<br>£<br>-|Restricted<br>£<br>-|**Total**<br>**funds**<br>**£**<br>167,997|
|||167,997|-|**-**|167,997|
|||£<br>304,116<br>Income|£<br>(271,642)<br>Expenditure|Transfers<br>£<br>-|**£**<br>**200,471**<br>**At 31**<br>**December**<br>**2024**|
||**167,997**|**304,116**|**(271,642)**|**-**|**200,471**|
|||||||
||**-**|-|**-**|**-**|-|
|||||||
||**167,997**|**304,116**|**(271,642)**|**-**|**200,471**|
||£<br>149,823<br>At 1 Jan<br>2023|£<br>262,863<br>Income|£<br>(244,689)<br>Expenditure|Transfers<br>£<br>-|**£**<br>167,997<br>**At 31**<br>**December**<br>**2023**|
||149,823|262,863|(244,689)|-|167,997|
|||||||
||**-**|-|**-**|**-**|-|
|||||||
||149,823|262,863|(244,689)|-|167,997|



## **13 Legal status of the charity** 

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 

## **14 Related party transactions** 

There are no related party transactions to disclose for 2024 (2023: none). 

17