Company rroisiraiion number. 07792910 Charity. registratiQD number: 1147333 Phoenix Gymnastics Limited (A company limited by guarantee) Annual Rert and Financial Statements for the Year Ended 30 Sepiember 2025 Anthony Williams & Co Lid Trevenson House Church Road PIK)I REDRUTH Lornwall TR15 3PT
Phoenix G>mnastic8 Limited Contents Reference and Adtllillistrdtive Detsils Trustees, Report 2104 Indep¢ndeTtt Examin¢Ps Report 5t06 Statement of Financial A¢tivities Balance Sheei 8t09 Notes to the Financial Statements IOto22
Phoenix Gymnasties Limited Reference And AdministratiTr¢ Details Cbarity Registrntion Number 1147333 Cotnpapy Registration 07792910 Th¢ chartry is tn¢orporaied in England and Wale& Unit B5-B7 Fornkl I]Khtrial E.sts Treswithian Camborne Cgrnwall TK140PY Registered Otrwe Independent ExamiD¢r Anthony Williams & Co Lid Treven50n IIou5¢ Church Road Pool RF.DRUTH Cornwall TR15 3Fr Page I
Phoellix Gymnastie5 Limiled Trustees, Report The trustees. who are director5 for the purpose5 of co]npany law, pres¢nt the annual report together with ihe fULClaI s(atemenis alld audito. report of the chatitable compauy for th¢ Jear ended 30 sepmber ?025. Objectives #Dd actIltIeS Objects anduins The objects of the charity, IS defmed by the Memordndon of Asslxiation. are to undertake the promotion of community participatiOD in healthy recreation in particular by the provision of facilities foT gymnasiics and tram¥Kilining. Puljlic benejli During the year, the charity continued io advancc Tts objctiives by prom(rtiDg and providing access io higJ-qualiTr ]nna511¢S and trampblining oppotllLllitie5 for children, }'oung pcople. and adu115 within ihe local communiry. The charity delivered a broad PTo£raTTame of structured gSTnn85li¢s and trampolining sessions designed io support physical literacy. personal deielopTnent. and lon".tcmi panicipation in 5POrt. Aciiviiies includcd beginner-level recreational classe5. TtnedIat¢ and advanced trdiniDg probryamme5. and dediCad Sessions for individuals with additional needs. These acliviiie5 were delivered b> qualified coaches in a safe, supp)rtive environment and M'ere open io the publi¢ regardless of backgrolmd or abiliN. To further public benefiL ihe charity.. Organised tasier da)'s and open 5e55ions lo encourydge nem. participants io engage ID gymnastics and trampolining. proJnoting health: ¢onfidenrx: and physical well1ng across all age groups. Maintained and improved specialist equipmen( ensuring high4Euality.. safe faciliries that rneet national standards and support both recreational participation and progression pathThYys. Support¢d volunteer dev¢lopmeni, offering training and mentoring w young Nolunteers and aspiring coaches to help build skill¥ confiden. and community involvement. Delivered welltKing-focu5¢d PTogramm¢K emphasising the physi. mental. and social benefits of regular physical activity. These atlivitie5 directly contrbute lo the charity's public trtnefit aiTllS by Tnaking smictured physic activity dely a¢cessibl¢, irnproving hcalih and well]n> avd providing safe. tM)sitivc enwronmenis foT TberS of thc comTnunity lo participate in sport. The trustees tonfm th th¢y have complied with th¢ requireJnents of seclion 17 of the Charities Act ?01 I to have due regard io the public b¢n¢fit guidance published by the Charity Commission for England and Wales. Trustees otficers The trnstees and olY2cers seThing during the year and simc¢ the year end were as follows: Trustres: Mr James Anbur Hom'anh Mr Paul Howa PaEe 2
Phoenix Gymnasties Limited Trustees, Report Structure, governance and man¥4gemethl Financial instruments Objeclives andpolicles The charity's activities expose it to a number of financial risks including credit risk. cash flow risk and liquidity risk. The use of financial d¢rivative5 is goN'erned bv the charity's wlicies approed by the board of Nstee& which provsdc MTitten principles on the use of financial derivarives io manage these risks. The charity does not %e d¢rivative financial in5tnunenrs for 5CUl1¥C purrM>ses. Cashflow rlsk The charity's activilies expose il PriEnarily to th¢ financial risks of changes in foreign ¢urren¢y exchangye rates and intertsl rat¢s. The charity use5 foreign exchange forward contracts and interesi rate swap contracis to hedge these exposure5. Interest bearin8 assets a[ liabilities are held * [ed rat¢ io ensure certainty of ash flow5. Crethl risk The charity s principal financial assets are bank lanCeS and cash, trade and other rec£svable5, and invesknents. The charity's credit risk is primaril}. atMbutsble io its trade receivables. The amounts presented in the balance 5heth are nct ot allowances for doubt7 receivables. An allo¢¢ for impairnient i% made where there is an ideniified loss event which, based (m previous expcrience. is ¢videnc¢ of a reduction in the recoverability of th¢ cash flows. The credit risk liquid funds derivative fiEwicial instn]m¢nts is limwt¢d trt¢aus¢ th¢ ¢ount¢rpani¢s are banks with high credtt-rdrings assigned b). international credii-rniing agencies. The charity has no significant ¢on¢¢ntrarion of ¢r¢dit risk. with cxposur¢ spread over & large number of counterparties and eu5tomer5. LlqAldlty rlsk En order to maintain liquidity w ensure that sulYici¢nt fid5 are available foT ongoing operations and future developments. the clmrity uses a mixture of lon¥-terni and 5hort-tenn debt fu)an(e. Further detsils regarding liquidity risk can b¢ found in the Ststement of accounting poli¢i¢s in the fJnan¢ial sementS. Statement oftrustees, reSPODsibilities The tsus*es (who &e also the directOT5 of PIKJenix Gvmna5tics Limited for the PUTposes of company law) are responsible for preparing the trustees, rep)rt and the fmancial statements in accordance 1th applicable law and United Kingdom Accounting Standards (un]d Kingdom Gen¢rdll) Accepted Accounting Prn¢ÉiceX including FRS 102 "The Financial Reporting Standard applicable ID the UK and Republic of Ireland" The rep)rt and accounts have been prepared in attordan¢¢ with the provisions in the Cornpani¢s Act 20[ r¢lating to small ¢ompanies. Company law require5 the trusttts to prepare F]nancial ststeJn¢nts for each fmancial )ear. Under Compally law the trustees musi not approve the fancial statements unless they are satisfied thai they gi&e a true and fair view of the slate of atTairs of ihe charitable and of the inconjing resources and appIltion of resources. including its income and expenditure. of the charitsble companv for period. In preparing these fmancial statements, the m15ttts are required io: sele¢t %uitsble a¢¢ounting policies and app]y thwn ¢onsist¢ntlv; obsm¢ th¢ Tnethods and principles in th¢ Charities SORP. make judgements and eImateS thai are reawnable and prudenl: Page 3
Phoenix Gymnastics Limited Trn5tees' Report stale whtther applicable accollntiitg 5thd. comprisiDg FRS 10? hase been followe& subject to any aterial departures disclosed and explained in th¢ fmancial sts*ments' and . prepare the financial ststtments on the going concern basis uThiess it is inapprowiatr to presume ihat the charitsble compani" 11] continue in business. The tNsiees are responsible for keeping prOr accountillg records can disclos¢ with reasonable accuracy any time the financial p)sition of the charitable cornpan) and enable them to ensure thai the financtal sts(ements cornply wiÉh the Cornpanies Act 21M)6. The!. are also re5ponsTbl¢ for safeguarding thc ass¢ts of the charitable company and hence for tsking re&sonabl¢ sleps for the prcveniion and deiection of fraud and other irregularhties. The trusitts are responsible for the Tnaintenanrc and inleerity of the COorate and financial inforn?ation included on the eharitable compallv's website. L¢gislation governing the prcpardtion and dissernination of [anCial sthternents may differ from legislation in otherjurisdictions. Small wmpanit5 provision ststemeDt This rew)rt has been preped in accordamc¢ with the STnttll companie5 regime under the Companie5 Acr 2006. The amiual rep)rt w&s approved by the tru51¢es of th¢ ch8rtly on 8 May ?026 and signed on ils behalf by: Mr Jarnes Arthur Howarth Tn]ste¢ Paul HoWh ru5tee Page 4
Phoenix Gvmnasti¢5 Limited Independent Examiner's Report to the trnstees of Pboenix G)mnasties Limited ('Ibe compan.) I rq)ort to the Charity ITUStees on my examination of the acc4JuThts of the Company for the year ended 30 September 2025. Respo$[bIlItieS and b45is of report As the charity's trnstees of the Compalry (and atso its directors for the purposes of company law) you are responsible for th¢ preparation of the accounts in accordance M'ith the requirements of the CoTnpanies Act 2006 ('the 2006 Ad,). Having saiisfied m>'self that the accounts of the Compan) are not requitEd to be audited und¢r Part 16 of the 2006 Act and are elÈgible for indep¢nden( exarninaiioffj I ert in respect ofrny exajnination of your charity's accounts as carried out under section 145 of the Chariiies Act 2011 {'the ?01 l Act,). In carr%'ing out my examinarion I have followed the Direaion5 given by the Charity Comtnission under section 145(5Xb) of the 2011 Act. IndepeDdent examiner's ststemeTrl- rn8tteT of concern identified Since the CornpanN 5 gross tncome exceeded £250.(M)O jour e_xaminer rnu be a rnemr of a body listed in section 145 of the 201 l Art. l confw that l am qualÉfied 10 w]dertake ihe examination be£ause l am a mernb¢r of ACA, which is one of the listed btyjies. I have completed my examin10n. I have identificd rnatters of concern .. . I confum thai no other matters have corne to my attention in ¢onneciion wilh the examination siving me Tsonable cause to believe that in any material rest*d: accounting records were not kept in reswt of Phoenix G]nnastLeS Limited as required by scctiort 386 of the 2006 ACL or 2. the accounts do not a¢¢ord Mith those records: or 3. the accounts do not cornpl!. with the accounting requiren)ents of section 396 of the 2006 Aet other than any requirement that the accounts give a 'trn¢ and fair view, which is not a matter considered as part of an independent exarAinaiion: or 4. the accounts have not been prepared in accordance '1{h ihe meth(KJs and principles of the Staternent OF ReC0mnndCd Pradice for accoutinr and reporting b}. chariries lapplicable io chariiies preT>aring their accounis in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I confirm that there are no other mauers to which your attention should bc drawn lo enable a proper und¢rstanding of the accounts to be reached. Keiron Siephens ACA TreveTn Ilou Church Road PIN)1 REDRUTH Cornwall TR15 3PT Pag¢ 5
Phoenix G>mn8sti¢s Limited Ind¢p¢ndeDt Examiner's Report to the trnstees of Phoenix Gymnastics Limited ('the Companv,) 8 May 2026 Page 6
Phoenix Gymnasties Limited Statement of Financial Activitie8 for the Year End 30 September 2025 {In¢luding Income and Eipenditure Aceount and Statement of Total Recognised G4in5 and Losse5) Unrestricted fuDd5 Tot*1 2025 Total 2024 Note Intomt alld ElldowtThtDts from: Donations and legacies Charitable activities Other trdding aclivities 2,463 334,855 27.390 2,463 334,855 27.3 3,082 277,S21 26,024 Total incom¢ 364.708 i64.708 306.927 Expenditure oll: Raising funds Charitable activities (38.811) (30i.442) (38.811) (303.442) {17.717) (272,888) Totsl expenditure (342253) (342.253) (290,605) Net in¢om¢ 2?.4jS ??.455 16,322 Net movemenl tn funds 22.455 22.455 16,322 Re£oncili8tion of fuDd5 Total funds brought forward i4,380 i4.380 18,058 Total fimds carried foThvard 20 56.835 56.835 34,380 All of the cljarity's aaiyitios d¢riv¢ from continuing operntions durtng the &tve two periods. The funds breakdown for 2024 is Showm in note 20. The note5 on pages 10 10 22 form int¢grnl part of these fll)ancial stsiemenl& Pa8e 7
Phoenix Gymna5ties Limited (Regi5trntion numher: 07792910) Balance Sheet as at 30 September 2025 2025 2024 Note Fixed &ssets Tangible assets 14 51,677 60.797 Curreit a&sets Stocks Debtor5 Cash at bank and in hand 15 16 17 2,600 8,500 2.5(X) 8.0(K) 4,107 31.512 14,607 Creditors: Amounts falling due within one year 18 {26.354 (41,024) Net f urrent assetsloiabilities) 5.158 (26.417) Net #ssets 56.835 34,380 Funds oftbe eharity: Unrestrieted ittcfrme fd$ Unrestricted funds 56.835 34,380 Toial funds 20 56.835 34.380 For the financial year cnding 30 September 20?5 the charitv was entitled to exempti(m from audit under SlI0n 477 of the Companies Act 21J06 relating to small companies. Dir¢¢tors' re5ponsibiliiies'. The members have fEquired the charity to obtain an a111 ol its accounts for the )"ear in question in accordance with section 476: and Th¢ dKrfctor5 acknowledgc iheir rcsponsibilitics for complving with th¢ requirements of the Act with respect to accowlting records and ihe preparation of accounts. These financial 4atemenrs have been prepared in accordance with thc 5cIal provisions relating to companies subject to the small companies regime ithin Part 15 of the Compani¢s Act 2(Ml6. The notes on pages 10 10 22 folln an ingral part of these fu1claI 5thtem¢nts. Page 8
Phoenix Gymnastics Limited (Registration number: 07792910) Balance Shtel as at 30 September 2025 The fmancial staternettis on pages 7 to 2? were approved by th¢ and authori5ed for issue on 8 May 2026 and signed on their behalf by= Mr Jatnes Arthur Howanh Tru5te¢ Paul Howarth Trnstee The notes on pages l O to 22 forni an Inte part of these financial slatements. Page 9
Phoenix Gvmnastic5 Limiled Notes to the Finao¢ial St¥Jtements for the Year Ended 30 September 2025 I Charity status The chariry is lirnit¢d bv guaraniee, incorp)raied in England and Wales. and consequenrly does noi have share capital. Each of the ]e£S is Itable to contribute an amount exceeding £1 towards the assets of the charity in the evenl of liquidation. Th¢ addtess of its registered office is= Unit B5-B7 FoTmal ITKlustrial Esthte Treswithian Camborne Comwall TR140PY These flljancial statem¢nts w¢re authorised for issue by the rnstees on 8 May 2026. 2 Accountine polieies of 5igllifir¥nt ¢¢ounting policies •lld key acfounting estimates The principal accounting li¢jeS applied in the preparation of these financial statements are set out below. These lItIeS howe len consisi¢ntly applied to all the yeaT5 present£d, unle55 Otherwi%e ated. Statement of compliance The financial statemenis have been preparcd in accordance with Accounting and Rcponing by Charities: Statcment of RecoTnmcnded Practicc (applible to charities preparing iheir accounts in accordancc with the Financial Reporting StsndaTd applicabl¢ in ihe IJK and Republic oflreland (FR8 102)) (issucd in October 2019) - {Chariiies SORP (FRS 1021). the Fitwtcial Rewrting StandaTd applicable in the UK and Republic of JTeland (FRS 102) and the Companies Act 2006. Basis of preparation Pho¢nix Gynmastics l.imiied meeis ihc definiiion of a public bencfii eniity under FRS 102. Assets and liabilities arc inilially rewlSed at historical cosi or transaction value unless othen%ise 5th1ed in the relevant accounting policy noies. Going concern The trn51ees consider that there are no materhal uncertainties aiM)ut the cljarity's ability to continue a going concern nor any signifi¢ant ar¢Ès of uncertainty that affccr the caTrving value of assets held by the charity. Ineome and ed0mellts All income is recognised once the chariry has eniii1emt io the income. it is probable rhai the income will be received and the amounr of the income receivable can be measured reliably. Donalions ¢Fnd legoeies Donations are rttognised when the charity has been noiified in Tiling of both the amounl and 5eitl¢meDI date. In ihe event that a dotmiion is subject to condiiioll5 that tequire a le%el of perlom)an¢e by the charity before the chariry is entitled to the funds. the income is defetred a]d not recognised until eiiher lho conditions are met, or the fuifdmeDt of those Colldiiions is wholl) wiihin the control of ihe charity and li is probable that these conditions will be fulfilled ill the reportiti8 peritKI. Page 10
Phoenix Gymnastics Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Expendilure All expendiiure is recogni$ once there is a legal or constructive obligation to that expenditure: it 15 probabl¢ settlemeni is required ad the amount can be measured reliabli". All costs are allocated to the applicable expendiDJre hedding that aggregale similar costs io thai category_ Where costs cannot be directl}. attributed to parricular headings thev have been allocated 01] a basis consistent wilh the use of resources. with central staff costs allocated the basis of lime srtt, and deprwiaiion charges all(thed on the wrtion of the asset's use. her support Costs arc allocated based on the sprud of staff costs. Ra&ngnd5 The5¢ pr¢ costs incurred in attracting voluntary incom< the management of investments aThl those incurred in trndin£ acriviiies that raise fimds. Ch•rliable ucliwilies Charitable expenditure comprises th(Trse costs incuEred by the charity in the delivery ofits activities and services for its beneficiari¢s. It includes both cosls that be ailocared dkrecily to such activities and those ¢osls of an indirt nature necessary. to supwt them. Supw)rt eosts Support ¢osts include centtal functiOll5 and have be¢n alloc*ed io artivity Cost cateEories on a basis c(Trnsistenr with the usc of resources. for example. allocating property costs by floor are4 or per capita. 5Èaff costs by the time spent and oth¢r cosrs by their usage. Governance Costs These include the costs attributable to th¢ charity's compliance with constitutional and $ul0ry requireTn¢nts, including audit. strategic management and trusttts rneeiings and reimbursed expense5. Taiation The charity. is considered to pass the tests set out Én Paragraph I Schedule 6 of the Finance Act ?010 and Iherefore it meets the def]nition of a charithble compall). foi UK cortM)ration tax purposes. Accordingly. the charity is potentiallj exempt from taxaiton in res1 ol- income or capital gains received within caiegories covered b>. Chapter 3 Part I l of the Corw)rnior] Tax Act 7010 or Secrion 2)6 of the TallOn of Cbargeable Gains Act 1992. 10 the extent that such income or gains are applied exclusively io charitsble putP05es. T8ngible fixed assets Individual fixed asset5 Costing £100.00 or tnore are initially recorded at cost. Depreciation and amorttsution Depreciation is provided on thngible fL¥ed assets 50 a5 to th¢ cost or valuation. less any estinmted residual value, over their expecied useful economic life as follows: As5¢t class Planr & machinery Fixmres & fittings Depreciation rnethod xnd rnte 15:,• redu¢ing balance 1501• reducing balance s.tock Stock is valued at the lower of cosi and estimated selling Pri¢¢ less costs to CQTnplete and sell, after due regard for obsolete and slow moving sts)cks. CO is detemiined llsing the first-in, first4>Ut {FIFO). Page 11
Phoenix G}'mnaslies Limited Notes to the Financial Statements for Ihe Year Ended 30 September 2025 Trade debtors Trade debtors are amounts due from customer5 for m¢handIse sold or services perfornied in the ordinary course of business. Trade debtors are r¢¢ognised init?aliy ai the Iran5a¢tion price. Tly are subsequentlv measured al amonised cost using the cffective interest method. less pro*ision for impainnent. A provision for the impaiment of trade debtors is e51ablished when ther¢ is objectii'e cvidence Ihat the charity w'ill noi be able to collect all amounts due according io the original iems of the receiable5. C¥4sh And tash tquivalent5 Cash and cash equivalenis comprise cash on hand and call de1(5, and oiher 5hort-terrn highly liquid investments that are readilv convertible to a atnount of cash and are subject to an insignificant risk of change in YaIue. Trade eredilors Trade creditors are obligations io pay for g[S or servico that hav¢ be¢n acquired in the ordinary course of business from suppliers. Account5 pavabl¢ are classificd as Current liabilities if the charity does not hal'e an unconditional right, at the end of the reporting period. to defer seulement of the creditor for at least N'elve monihs after the reporting da. If there is at] uncondition81 riohi to defer sertl¢ment for at lea Nelve months after the reporting date, they are pr¢sent¢d as non-curreni liabilities. Tradc creditor5 are recognised initiall). at the transaction price and subscquentty measured at arnortised cost using the effective interest method. Borrowings Interes1-bearin8 borrowing5 are initiall recorded at fair i'alue. nei of transaciion costs. Interest-bearing borrowings are subsequently carricd at amortised cost, wilh the difference between (he procecds, net ot transacti(Fn c051s, and the amowit due on redemption being rttognised as a charge to ihe Statement ol Financial Activities over the peri1 of the relevant borrowin Interest cxpense is recogni5ed on the basis of the effeaive interest method and is included in interest payable alld similar charges. Borrowings are classified as current liabilities unless the charity has an uncondilional right to defer settlement of the liability for at least ts4.elve monihs after the rewrting d&e. Pt 12
Phoenii Gymnastics Lijniled Notes to Ihc Financial Statements for the Year Ended 30 September 2025 Foreign exchange Transactions in foreign currencies ar¢ recorded at the rate of exchange at the date of the transaciion. Monetary a8kts and liabilities denomitkted in foreign cutTellcies the balaJ]ce shett date are reported at the rdt¢s of exehan8e prevailing that date. The results of overseas operdtions are iranSled ai th¢ average raies of exch3ng¢ during thc period and their balallce sheets ai the rates ruling at the balance sheet date_ Exchanoe differenccs arising on translation of the opening net assers and rtsulis of overseas operaiiotjs are reponed in other cornprehensivc income and accumulated in equiry (attributed to non-controlling interests as apwopriate). Other exchartge differences are recognised in the Statemeni of Financial Activities in the period in which they arise exc¢pt for.. l) exchange ditTerencc5 on traSalonS eniered illto to hedge certain for¢igt currencv risks (see alx)ve}' 2) ¢xchange differenc¢s arising on gains or losses on Don-monetary itcms which are recoliSed in other omprehensive illcome. and 3) in the ra5¢ of the Consolided fu1¢]dI statemenrs. exchange diffcrences on monew items rettivable from or pa>'able to a for¢ign operation for which s¢ttlemeni is neither planned nor likely to occur lthcrefgre forming part of the net investment in the forei 0ration).- which are rccogvised in other comprehensive income and reFrt)rted under equity. Fund $trueture Unrestricted income lunds are genernl fvnds th are available for use at the ttusiees discretion in fiwtherdnce of the objectives of the chariiy. Pensions and other retirement obligatfOll5 The charity opernies a dtfthed contriblliion pension scheme wthich is a pension plan und¢r thIch fixed contributioDs are paid into a fvnd and the clwitv h&s no legal or constnjctive obligation io pa}, further contribution5 even if the fund does noi hold sutTicieni assets ¢0 pa), all employees the b¢nefits relating to employee service in the current and prior p¢ri(MJs. Contributions to defmed contribuiion plans are recognised in the Statement of Financi Activitie% whcn they are due. If contribution pa)Inents exceed the contriErfrtion due for servi¢¢. the excess is recolSed &s a prep8ym¢nt. Financial instruments cl45sificalion Tr'inancial assets and fmancial liabiliti¢s are recognised when the charity becomes a party (o the contractual provisions of the itrMent. Financial liabilities and equit). IlJSlnJments are classified according to the substance of ihe contracttjal atTangemen¢s entered into. An equitN' in5trumeni is aD) contraci iha¢ evidences a residudl interesl in the assets of the charity afterdeducting ail of its liabilities. Page 13
Phoenix Gymnastics Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Recognidon and MtafurenTh1 All financial assets and liabilities are initialty meL%Led ai transaction price (including transaclion costs), except for those fmanciai assets classified as at fair value through profit oi loss, which ar¢ iniiially measured at fakr value {which is nomiallv the rransaLtion price ei£luding transaotion costs). unless the arrdT)gernent ¢onstiMles a financing transaciion. If an drrangemeni consiituies a fitoncing transactio the financial asset or fmath¢ial liability is measured the preseni value of the fire payments diseount¢d at a market rate of in*r¢st for a similar debt instrument. FinaThciaI assets and liabilities are onty o(fset in the 5tateTnent of financial position when, and onlv when iher¢ exists a lesall) enforceable right to set off the regniSed amount5 and the Charl iniends either to settle on a nei basi& or to realise the assei and settle the liability simuhaneou51y. Financial ets are derrfognised when and only when al the Contractual rights to the cash t]ows froJn th¢ fmancial ass¢t expire or are settled. b) the chariry transfers to another party, substhntla1l all of the risks and reardS of ownetship of the finhncial a$5¢L or o) th¢ Charl.. despite having retained som¢. but nol all. significant risks and rewards of ownership. has transferred conm)l of the asset lo another party. Financial liabilities are derecognised only when the obligwion specified in the contrnct is dischprged cancelled or expires. Page 14
Phoenix G)'mna5tic5 Limited Note5 to th¢ Financial Statemenls for the Year Ended 30 Seplember 2025 Deb/ln5trymeryts Debt instrwnents wbi¢h meei the following conditions are subsequently rnvasured at amonised cost using the effKtive interest method.. (a) Th¢ contrwtual r¢turn to the holder is (i) a fixed amounL (li) a EX1(1¥e fL¥ed rate or a pisitive variable rdte: or (iii) a combination ola posiiive or a negaiive fixed r and a positive variable rate. {b} The contraa ma>. provide for repanentS of the principal or th¢ return io the holder (but TJOt b(Trth) to b¢ linked io a single relevani observable index of general pric¢ inflation of the ¢urr¢ncy in which the debt instjument is denominaie(i provided such links are not leveraged. {c) The contract may provide for a deterrninabl¢ variation of the retym to the holder during the life of the instJumenL pro%'ided that (i) th¢ new r&t¢ 5a115fies condition {a} and the vatiaiion is not contingent on tUre events other than (l) a change of a contractual variable rate. {21 to proiect the holder against credit deterioration of the issuer: (3) clwiges in lewies applied b). a ctntrdl bank or arising from changes in relevanz LallOn or law- or (li) the new rate is a market Tate of interest and 5ati5fies condiiion (a). (d) There is no contractual provision thAt coul¢ by its tern]s. resu]t in the hol(kr losing th¢ PTir)¢ipal amount or any intrresi attributable to the ¢urr¢nt ri1 or prior peri(MJs. (e) Contra¢tual provisions that rnnii the issuer to prepa), a debt insirument or pemiit the holder io put it back to the issuer before maiurity are colltingent on future ei'enis. other than io PrOtt th¢ holder against the credit deterioration of the issuer or a clwige in control olthe issuer. or to proieo the hold¢r or issuer against ¢hanbFes in levies applied by a central l)8nk or arising from chat)g¢s in relevani taxation or law. (0 Contra¢tual provisions rnay perniii th¢ exlension ofthe tenn of ihe debt ÈrtstnunenL provided ihat the reiurn io the holder and an) other contracwal proYision5 applicable durin£ the extended terni satisfy the condiiions of pardgraphs (a) lo {c). D¢bt instruments that are classified as payable or receivable within one ear on initial recognition and which meet the above condiiions are mtrdsured at the undiscounied amouni ofthe cash or oiher consideration expected to be paid or received. nei of tmpairniellt. With the exception of some hedging instru other debt insinllnents not meeting these conditions are Mured at fair value through profil or loss. Conllnillnents to make and receive loans which med the conditions mentkoned above are med ai cost (which may be nil) less impairmem. Inveslments Investments in non-convertible pieferenct shares and non-puttable ordinar). or preference shares (where shares are publicly traded or their (air 'alue is reliabl). measurable) are M&ured at fair value through profil or loss. Where fair value cannot be measured reliably, inve5tsnents are e&SUred at cost less impairment. Investtnents in subsidiaries and associaies are nasured at c1 less impairnleni. For invesmients in subsidiaries acquired for considerdtion including the issue of shares qualifying for merger relief. cost is measured by reference io the nominal value of the shares isyjed plus fair value of other consideraiion. Any prcmium is iored. Page 15
Phoenix Gvmna5ti¢5 Limitcd Notes to the Financial Statements for the Year EDd¢d 30 Sepiember 2025 DerlvadveJlnA¢Ial Instruments Th¢ charity uses derivalive fan(la1 instnllneTht5 to reduce exposure to loreign exchange risk and tnt¢re5t rat¢ movements. The ¢lwity does noi hold or issue derivaliv¢ fu]ancial in51ruments for sp¢culative purposes. Derivatives are iThitially r¢cognised at fair value at the date a derivativ¢ contract js entered into 3nd are Subsequently remeasured to theit fair value at each reporting date. The resulting gain or 105S 15 recognised in 5talement of financial artiviÈies immedialel). unle55 the derivative is desi£nat¢d and effrftive as a hedging instrumen( in which event ihe tirning of th¢ recognitioD in s¢atem¢nl of financial xlivities depends on the t]ature of the hedge relationship. F(4ir mertsuremeni The best evidence of faiT value is a quoi¢d price foi an idcniical as1 in an actiwc market. Whcn quoted prices are unavailable. the PTite of a recent Iransaciion foT an idcntical ass providcs eidenCe of fair value as long as there has not been a significant change in Lyonomic circumstsnces or a signifi&qnt lapse of rime since (he transaction look place. If the marker is noi a¢tivc and receni trdnsaaions of an idcniical asset on their are not a good estimate of fair value, the fair value is ellimaied bs" using a valuation iechnique. 3 Income from donations aknd legaeie5 Unrestrietwj funds General Total funds th)nations aod legacies- Donations from individuals 2,463 2.463 Total for 2025 2.463 Tot#] for 2024 3.082 3,082 4 Income from eharit¥4ble activities UTrrestrieted lunds Gener81 TDtg41 fundg 334.8S5 3i4,855 Total for 2025 j34.85S 334,855 Total for 21n4 277,821 277.8?1 Page 16
Phoenix GTrmDa5tic5 Limited Trlotes to the Financial Statements for tb¢ Year Ended 30 Seplember 2025 5 Income from other Inding aeifvities Unr¢stricted lunds General Total rulld5 Trdding income. Sales of goods and services 27,) 27,390 Totsl for 2025 27.3q) 27.390 Total for 2024 26.024 26.074 6 Expenditure on raising funds } Costs oftTading activilies Unrestrict funds General Total funds Costs of goLKls sold ?6.311 26.311 Totsl for 2025 26,311 Totsl for 2024 17,717 17,717 b) Investment management costs UDrestricted funds Genernl Total funds Note AlkKared suppon costs 1?,5(K) 12.500 Totsl for 2025 12.5(M) 12.500 7 ExpeJditure on eharit*ble #rtivities Page 17
Phoenix Gymnastics Limited Notes to the Finaneial StatemeDts for the Year Ended 30 September 2025 Unrtstrietsd funds General Total funds Note StatT¢051s Allocated support Costs Governance ¢o5ts 161.496 161,496 4,628 137,318 137.318 Total for 2025 303.442 303,442 Total for 2024 272,888 ?7? 888 In addition to the expcnditure 8nalv5¢d aboN¢, there are also gO¢ManCe costs of £137,31812024 - £135,469) which relate directly to ¢harttable activities. See nole 8 for funhcr dcthil& 8 Analysis of eovern&nee and Support eosts Governanee Costs Ullrestrieted funds General Totsl funds Ind¢p¢ndent examiner fees Other fees paid to examiners Marketing and publicit). Depreciation, amortisaiion and other similar costs Other governance co$ 1.5(KJ 399 9.120 126.299 1,5(N) 399 9.120 126,299 Total for 2025 137.318 137.318 Total for 2024 135,469 135.469 9 Net ineomingloutgoing resources Net incoming resources for the year include: 2024 Depreciation of red asseis 9,120 10,729 10 Trustees remuneration and eipense5 I I Staff costs "rhe aggregate paJToII costs were as follows: Page 18
Phoenix Gvmnasti¢$ Limited Notes to tbe Financial Ststements for the Year Ended 30 September 2025 2025 2024 Staff eosts during the year were: Wage5 alld salaries Social securiry costs Pension cosis 151,988 2,091 7.417 118.957 1,381 1.934 161,496 122.272 The monthly average number of perso[]5 (including senior management I leadeTrhip team) employed by the charity during the vear exprc5sed as full iitne equivalents was as follows.. 2025 No 2024 No 13 13 No eJTrploy¢e received emoluments of more than £60,CKJO during the year. 12 Illdependent examiner's remuntr*ti&n 2025 2024 Other fees to examiners Exatnination-related assurnn¢e services 1,5 Page 19
Phoenix Gymnasties Limited Notes to the Finaneial Statements for the Year Ended 30 September 2025 13 Taxatio 'rhe charity is a registered charity a[ is therefore exemrn from (axation. 14 Tangible fjxed a55et5 Furniture equipment Total Cost At l O¢tober 9024 117,679 117,679 At 30 S¢pt¢mber 2¢Y25 117.679 117,679 Depreeiation At l October 20?4 Charge for th¢ year 56,8 9.120 56,882 9.1?0 At 30 Septemb¢T 2025 66.002 66,002 Nel book value At 30 Septemb¢r 20?5 51.677 51,677 At 30 September ?024 60,797 60,797 15 Stoek 2025 2024 Stock5 2,5(X) 16 Debtorg 2025 2024 Other debtors 8.500 8,0 17 Cash and cash equivalents 2025 2024 Cash on hand Ch at bank 7,116 1,701 2,406 20,412 4,107 Page 20
Phoenix Gymnastics Limited Notes to the Financial Statements for the Year Ended 30 September 2025 18 Creditors: falling due within one yur 2025 2024 Trade creditors Other taxation and Sla1 5¢curiry her crediiors Accruals 8.983 1.255 676 15.440 9.724 552 29,308 1,440 26.3)4 41.024 19 Pension and othtr schem¢5 Defithed eontribution peDsioD seheme The chariry OP¢Tates a defined COTrtribution pension %herne. The pensioD WSt for the year represent5 eontributions pavabl¢ by the charitv io the scheme and amow)t¢d 10 £7:417 (2024- £1.934). 20 FuDd$ BalaDC¢ at 30 September 2025 Balance ai I October 2024 Incoming resourtts Res0ree5 expended Unrestricted fuDds General 34.380 364,708 (i42 ?53} 56,835 Balance at 30 September 2024 Balanc¢ at I Oeiober 2023 Inwming Resour£¢s expended Unrestri¢ted fudS Genernl 18.058 306,927 (290.605) 34.380 21 Analys ofth¢t assets bdween funds UNrestrieted rund5 Genernl Total lunds at 30 September 2025 Tangible fixed ets Current assets Current liabilities 51,677 31,512 (26.3541 51,677 31,512 (26.354) Total nei assets 56,835 56,835 Pag¢?1
Phoenix Gymnasties Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Unrestricted funds GenerJl Total fuDd5 8t 30 Sept¢rnb¢r 2024 Tangible fixed weL8 Current asseis Current liabiLities 60,797 14,607 {41,024) 60,797 14.607 {41.024) Total net &5sets 34.380 34.380 22 Analysis ofnet fullds At30 September 2025 At l October 2024 FinancRng e*sh flows Cash at bank and in hand 4.107 16,305 ?0.412 Net debt 4.107 16.305 20.412 At30 September 2024 At l Oc¢tsber 2023 Financing ca$b IIow5 Cath at bank aJJd Én had 16,584 (12,477) 4.107 Net debt 16.)84 112,47T) 4,107 Page 22