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2025-03-31-accounts

Charity registration number 1139679 (England and Wales) Company registration number 07452976

FAVERSHAM COMMUNITY GYMNASTIC AND ACTIVITY CENTRE Annual Report And Unaudited Financial Statements For The Year Ended 31 March 2025

Faversham Community Gymnastic and Activity Centre

Legal And Administrative Information

Trustees SC Wolfe
ER Prince
SM Church (Appointed 30 August 2025)
Charity number (England and Wales) 1139679
Company number 07452976
Registered office Queen Elizabeth II Jubilee Centre
23A Whitstable Road
Faversham
Kent
England
ME13 8BF
Independent examiner Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD

Faversham Community Gymnastic and Activity Centre

Contents

Page
Trustees report 1 - 2
Statement of trustees responsibilities
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

Faversham Community Gymnastic and Activity Centre

Trustees Report (Including Directors' Report)

For The Year Ended 31 March 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025. The annual report serves the purposes of both a trustees' report and a directors' report under company law.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 2019).

Objectives and activities

The objects of the charity are to assist in the provision of facilities to encourage physical and recreational activity for the benefit of the general public of all ages with the object of improving the conditions of life for such persons.

The charity provides facilities to the people of Faversham and the surrounding areas to enjoy gymnastic and fitness activities. There are no restrictions on who can take advantage of the facilities and the charity actively encourages disadvantaged and disabled members of society to take part in the activities available.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities undertaken to achieve objectives

The Centre continues to provide a range of classes and facilities for local people. In addition to the gymnastic classes, there is a medium size fitness suite, the soft play and birthday parties are organised.

Achievements and performance

Soft Play now only requires online advance booking at weekends. The demand for gymnastic classes is still high and we were able to increase the number offered to make inroads on the waiting list. Subject to having suitably qualified coaches, we are committed to continue our elite classes and to that end continue to provide further training for staff. Holiday camps have become a popular option too.

Financial review

The Centre has continued to show improvement in its operational deficit and, with support from trustees, management has continued to control costs and maximise income. The net deficit before investment valuation movements has reduced to £31,952 (2024 - deficit of £55,710).

Price rises have largely helped to increase the turnover and fortunately we have not lost members despite the price rises.

The statement of financial activities shows total incoming resources of £478,322 (2024 - £439,393) and outgoing expenditure of £510,274 (2024 - £495,103).

The total reserves at the year end were £1,373,336, of which £734,763 were liquid.

After making appropriate enquiries, the trustees have a reasonable expectation 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

The trustees policy relating to the reserves continue to be that they can be used to fund the replacement of the building when it reaches the end of its useful life.

Structure, governance and management

The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees, is governed by the memorandum and articles of association. There are no restriction in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

Faversham Community Gymnastic and Activity Centre Trustees Report (Including Directors. Report) (Continued) ForTheYear Ended 31 March 2025 The trusoe4 who are also the direcwrs for the purpose of cornpany law, and who served during the year and up to the date of si¥Tratwe ofthe fina*cial statements wéw. Scwolfe ER Prince DR Prlnce SM Church {Resigned 31 August 2025 {Appolnted 30August 20251 When Dew or additional trusteps 3r¢ required then nominations are invited from the general public and subject to thelr ctsmpllante wlth the MemoraTrdum andArfcle5 oIAssoc¢atlon they are ¢ortsidered by the board of trustees for elecdoTh. None of the trustees has any benelelal Interest in the company. All ol the trustees are members ol tho company and guarantee to contribute £1 in the event of a wlnding up. Statement of trustees re5ponslbilltles The trustees, who are also the dlrecwrs of Faversham Community Gymn151ic and Aciivity Centre for the purpose of company IAW. are responsible for preparing the Trustees Report and the financial staternents accordance with applicable law and Unitsd KingdomAccounting Stsndards (United Kingdom GenerallyAccepted Accouniirsg Practice). The trustees report was approved ty the Board olTruthes. SCWDlfe Trustee Datv....

Faversham Community Gymnastic and Activity Centre Independent Examiner's Report ToTheTru5tee5 Of Faversham Community Gymnastic and Activity Centre I report to the trustees on my examination of the financial statements of Faversham Communiry Gymnastic and Actyvity Centre Ithe charity) for the year ended 31 March 2025. Responsibilities and basis of report the trustees of the charity land also its directors for the purposes of company lawl, you are responsible for the prepaTrtion of the financial Statements in accordan￿ with the requirprnents of the Cornpanies Act 2006. Haying sat151iEd myself that the fiDaTrcial statements of the charity are not required to be audited under Part 16 of the COM￿nIeS Act 2006 and are eligible for independent examination, I rEport in respect of ry examination of the charitys financial ststements carried out under section 145 of the Charities Act 2011. In carrying tsut my examination I have followed the Directions given by the Charity Cotntnission under section 14515llbl of the CharitiesAct 2011. Independent examiner's statement Since the charrtys gross income exceeded £250,000, the independent eX￿lIner must be a member of a body listed in section 145 of the chariti￿ Act 2011. I confirrn that l am qualrfied to undertake the exarninaiion because l atn a member of ICAEW, which is one of the listed bodi¥. I have cornpleted my exarnination. I confirm that no matters haye come to my attention in connection with the e*dminatlon ving me cause to believe that in any material respect accounting records were not kept in respect of the charity as required by Section 386 of the Corllpanies Act 2006. the financial statements do not accord those record5', or the financial 5tatemEnt5 do not comply with (he BC¢OUnting requirements of section 396 of the Companies Act 2Crt)6 other than any requirement that the tinancial statements give a true and lair Yiew, which is not a mattsr considered a5 parc of an independent e¥aminauon',or the financial statements have not been prepared in accordance with the methods and principles of the 5tstement of Recotnmended Practite for accounung and reporring by charities applicable to charities preparing their financial statements in accordance with the Financi￿ Reportyng Sttndard applicable in the UK and Republic of Ireland IFKS 1021. I have no concern5 and have come across no other tnatters in connection with the exatnination to which attention 5hDuld be drawn in this report in order to enable a proper understanding of the financial statements to be reached. lain Morris ICAEW Chavertys Limittd The Goods Shed lubileeway Faversham Kent ME138GD England Dated=' j

Faversham Community Gymnastic and Activity Centre

Statement Of Financial Activities Including Income And Expenditure Account

For The Year Ended 31 March 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 2 11 21
Charitable activities 3 442,438 397,383
Investments 4 35,873 41,989
Total income 478,322 439,393
Expenditure on:
Charitable activities 5 510,274 495,103
Total expenditure 510,274 495,103
Net gains/(losses) on investments 10 11,200 (42,754)
Net expenditure and movement in funds (20,752) (98,464)
Reconciliation of funds:
Fund balances at 1 April 2024 1,394,088 1,492,552
Fund balances at 31 March 2025 1,373,336 1,394,088

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

Faversham Community Gymnastic and Activity Centre Balance Sheet As At 31 March 2025 2025 2024 Nots5 Flx¢d assets Tanglblè assets 649,970 676,080 Current #$5•ts Stocks Debtor5 Investments Cash at bank and hand 3.709 1,231 671,916 62,847 3.709 16,916 660.716 59,398 14 739,703 740.739 Credltor5:amounts falllng due wlthln on8 yoar (16,337) {22,731) Net rurront a55•ts 723.366 718,008 Total ass8t5 léss eurrènt Il#bllltie5 ,373,336 1,394,088 Th• fund$ of the charlty Unrestricted lunds 18 l J73,336 1.394.088 1,373,330 1.394.088 The company 1$ entided to the exemption from the audlt requlrement contalned l settlon 477 of the Companie5 Act 20¢)6. for the year ended 31 March 2025. The directors 2tkowledge their respon$ibllldes for complyirvd With the requlrements of the Companles Act 2￿& with respect to accountirq record5 and the preparation of financial staternents. The members have not required the company to obtsin an audlt of irs financial statements for the year in questiorE I atcordance wTrth sectlon 476. These financial staoments have been prepared accordance with the pmvislons applicable to tompanies subject to the Small companles reglme. The financial sratsmtnts were approved by the trustees on... Scwolfe Truste Company re8l$tratlon number 07452976 (England andW31e51

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements For The Year Ended 31 March 2025

1 Accounting policies

Charity information

Faversham Community Gymnastic and Activity Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Queen Elizabeth II Jubilee Centre, 23A Whitstable Road, Faversham, Kent, ME13 8BF, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

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

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

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

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

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

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

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

Leasehold land and buildings 2-5% straight line Plant and equipment 10-25% straight line

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

1.7 Stocks

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

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

1.8 Retirement benefits

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

1.9 Investments

Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 11 21

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

3 Charitable activities

Sales within charitable activities
Other income
Gym fees
Adventure
play and hire
Gym hire,
parties and
clubs
Clothing and
awards
Café takings
2025
2025
2025
2025
2025
£
£
£
£
£
239,989
65,318
52,866
5,334
62,148
-
-
-
-
-
239,989
65,318
52,866
5,334
62,148
Classes Other income
2025
2025
£
£
13,551
1,436
-
1,796
13,551
3,232
Total
2025
£
440,642
1,796
442,438
Total
2024
£
395,371
2,012
397,383

For the year ended 31 March 2024

Sales within charitable activities
Other income
Gym fees
Adventure
play and hire
Gym hire,
parties and
clubs
Clothing and
awards
Café takings
£
£
£
£
£
202,521
68,003
42,100
7,864
60,437
-
-
-
-
-
202,521
68,003
42,100
7,864
60,437
Classes Other income
£
£
13,032
1,414
-
2,012
13,032
3,426
Total
2024
£
395,371
2,012
397,383

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

4 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income from other investments 35,384 41,256
Interest receivable 489 733
35,873 41,989

5 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2025 2024
£ £
Direct costs
Staff costs 303,280 291,614
Recruitment costs - 450
Training and welfare 2,478 4,393
Cafe and party purchases 34,642 30,987
Clothing purchases 1,415 4,009
Badges and trophies 993 919
Gym costs 2,838 3,174
Change in inventories - (201)
345,646 335,345
Share of support and governance costs (see note 6)
Support 161,603 155,708
Governance 3,025 4,050
510,274 495,103
Analysis by fund
Unrestricted funds 510,274 495,103

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

6 Support costs

Support
costs
Governance
costs
£
£
Depreciation
29,137
-
Premises
73,749
-
General office
47,962
-
Irrecoverable VAT
10,755
-
Independent examination
-
2,775
Other accountancy fees
-
250
161,603
3,025
Analysed between
Charitable activities
161,603
3,025
2025
Support
costs
Governance
costs
£
£
£
29,137
26,668
-
73,749
74,987
-
47,962
46,485
-
10,755
7,568
-
2,775
-
2,750
250
-
1,300
164,628
155,708
4,050
164,628
155,708
4,050
2024
£
26,668
74,987
46,485
7,568
2,750
1,300
159,758
159,758

Governance costs includes fees payable to the charity's independent examiner for the independent examination of the charity's annual accounts of £2,775 (2024- £2,750) and other accountancy fees of £250 (2024 - £1,300).

7 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements 2,775 2,750
Depreciation of owned tangible fixed assets 29,137 26,668

8 Trustees

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

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Staff 22 27

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
(Continued)
2025
2024
£
£
286,483
293,103
11,490
(7,104)
5,307
5,615
303,280
291,614

There were no employees whose annual remuneration was more than £60,000.

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments 11,200 (43,386)
Sale of investments - 632
11,200 (42,754)

11 Taxation

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

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

12
Tangible fixed assets
Leasehold land
and buildings
£
Cost
At 1 April 2024
1,210,722
Additions
-
At 31 March 2025
1,210,722
Depreciation and impairment
At 1 April 2024
545,154
Depreciation charged in the year
24,961
At 31 March 2025
570,115
Carrying amount
At 31 March 2025
640,607
At 31 March 2024
665,568
13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15
Current asset investments
Unlisted investments
Plant and
equipment
£
701,313
3,027
704,340
690,801
4,176
694,977
9,363
10,512
2025
£
3,709
2025
£
1,231
-
1,231
2025
£
671,916
Total
£
1,912,035
3,027
1,915,062
1,235,955
29,137
1,265,092
649,970
676,080
2024
£
3,709
2024
£
2,466
14,450
16,916
2024
£
660,716

The investments are remeasured to fair value at the year end. Fair value is determined using the quoted market price in an active market. The historical cost of the investments is £736,787.

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

16 Creditors: amounts falling due within one year

16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
2025
£
8,602
1,843
-
5,892
16,337
2025
£
5,307
2024
£
8,391
3,257
1,046
10,037
22,731
2024
£
5,615

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18 Unrestricted funds

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

General funds
Previous year:
General funds
At 1 April
2024
£
1,394,088
At 1 April
2023
£
1,492,552
Incoming
resources
Resources
expended
£
£
478,322
(510,274)
Incoming
resources
Resources
expended
£
£
439,393
(495,103)
Gains and
losses
At 31 March
2025
£
£
11,200
1,373,336
Gains and
losses
At 31 March
2024
£
£
(42,754)
1,394,088

Faversham Community Gymnastic and Activity Centre

Notes To The Financial Statements (Continued)

For The Year Ended 31 March 2025

19 Analysis of net assets between funds

Unrestricted
funds
2025
£
At 31 March 2025:
Tangible assets 649,970
Current assets/(liabilities) 723,366
1,373,336
Unrestricted
funds
2024
£
At 31 March 2024:
Tangible assets 676,080
Current assets/(liabilities) 718,008
1,394,088

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Favesham Community Gymnastic and Activity Centre

Detailed profit and loss account for the year ended 31 March 2025

Donations and legacies
Charitable activities
Investments
Less: Expenses
Direct expenses
Support and governance costs
Net expenditure before net gains/(loss) on investments
Net (losses)/gains on investments
Net movement in funds
2025
£
11
442,438
35,873
478,322
345,646
164,628
510,274
(31,952)
11,200
(20,752)
2024
£
21
397,383
41,989
439,393
335,345
159,758
495,103
(55,710)
(42,754)
(98,464)

Favesham Community Gymnastic and Activity Centre

Schedule to the detailed accounts

for the year ended 31 March 2025

Income
Donations and legacies
Donations
Charitable activities
Gym fees - members
Adventure play fees and hire
Gym hire, parties and clubs
Clothing, badges and trophies
Café takings
Classes
Other income
Investments
Income from other investments
Bank deposit interest
2025
£
11
11
2025
£
239,989
65,318
52,866
5,334
62,148
13,551
3,232
442,438
2025
£
35,384
489
35,873
2024
£
263
263
2024
£
202,521
68,003
42,100
7,864
60,437
13,032
3,426
397,383
2024
£
41,256
733
41,989

Favesham Community Gymnastic and Activity Centre

Schedule to the detailed accounts

for the year ended 31 March 2025

Expenditure
Direct expenses
Gross wages and salaries
Employers national insurance contributions
Employers pension contributions
Recruitment costs
Training and welfare
Café and party purchases
Clothing purchases
Badges and trophies
Gym purchases
Change in inventories
Support costs
Premises
Rent
Rates
Light and heat
Repairs and maintenance
Insurance
Cleaning
2025
£
286,483
11,490
5,307
-
2,478
34,642
1,415
993
2,838
-
345,646
2025
£
3,136
1,300
30,901
22,395
12,874
3,143
73,749
2024
£
293,103
(7,104)
5,615
450
4,393
30,987
4,009
919
3,174
(201)
335,345
2024
£
3,027
5,196
29,099
21,447
12,611
3,607
74,987

Favesham Community Gymnastic and Activity Centre

Schedule to the detailed accounts

for the year ended 31 March 2025

General office costs
Telephone
Other office costs
Advertising and PR
Subscriptions and fees
Awards made
Stationery and printing
Consultancy fees
Bank charges
Sundry expenses
Interest on overdue VAT liability
Depreciation
Depreciation on leasehold property
Depreciation on plant and machinery
Irrecoverable VAT
Irrecoverable VAT
Governance costs
Accountancy
Total support costs
2025
2024
£
£
2,016
1,793
1,304
1,154
496
346
6,194
5,418
2,000
5,000
1,984
2,130
4,840
4,657
16,105
12,393
13,023
11,161
-
2,433
47,962
46,485
2025
2024
£
£
24,961
24,961
4,176
1,707
29,137
26,668
2024
2024
£
£
10,755
7,568
10,755
7,568
2025
2024
£
£
3,025
4,050
3,025
4,050
164,628
159,758

Favesham Community Gymnastic and Activity Centre

Schedule to the detailed accounts

for the year ended 31 March 2025

Investment gains and losses
Revaluation of investments
Gain on sale of investments
2025
2024
£
£
11,200
(43,386)
-
632
11,200
(42,754)