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← York City Gymnastics Foundation

2024-08-31-accounts

REGISTERED CHARITY NUMBER: 1152515

TRUSTEES' REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

YORK CITY GYMNASTICS FOUNDATION

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

YORK CITY GYMNASTICS FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Page
Trustees' Report 1 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 20

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Charitable Aims and Objectives

The Charitable Incorporated Organisation's (CIO) objectives are:

These aims guide the charity's operations and programmes. Our vision is to make gymnastics accessible, inclusive, and beneficial to the physical and mental wellbeing of individuals across all ages and backgrounds. Through our activities, we aim to promote physical health, educational development, confidence, and community engagement.

How Our Aims Further Our Legal Purposes

All charitable activities undertaken are designed to further the above aims. By offering gymnastics-based recreation and education opportunities, including targeted support for disadvantaged groups, we directly contribute to:

Criteria Used to Assess Success

To evaluate our impact, we monitor:

Significant Activities Undertaken

During the 2023/24 period, the CIO:

Volunteer Involvement

Page 1

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Volunteer time is estimated at over 60 hours per week, equivalent to approximately 1.5 full-time staff members. Their dedication is vital to the sustainability and reach of our work.

OBJECTIVES AND ACTIVITIES

Objectives and aims

To provide facilities for recreation and other leisure-time occupations (in particular laying out, managing, equipping and maintaining facilities for gymnastics) in the interests of social welfare with the aim of improving the conditions of life for the inhabitants of York and it's environs and North Yorkshire. The area of benefit is to advance education (including physical education) through the provision of gymnastics and gymnastics related activities. We aim to relieve those in need in particular those caring for people with mental and/or physical disabilities by providing facilities which enable them to participate in gymnastic related activities.

Page 2

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

STRATEGIC REPORT

Achievement and performance

Impact on Beneficiaries

Our gymnastics programmes have supported the physical, educational, and social development of over 1,300 individuals per week. This includes children, individuals in financial hardship, and disabled users who all benefit from improvements to amenities at the Gymnastics Centre.

Review of Activities Significant activities in 2023/24 include:

Review Against Objectives The charity's 2023/24 objectives centred around:

All of these were successfully met during the reporting year.

Performance Indicators Performance was monitored using:

Influencing Factors and Future Outlook Positive factors: - Strong demand for inclusive, high-quality gymnastics.

Challenges:

Response and future planning:

Page 3

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

STRATEGIC REPORT Financial review

Financial position

At the end of the reporting period, the charity held unrestricted reserves of £959,925 (2023: £1,043,931).

The trustees are confident in the financial position of YCGF at the year end. The charity remains on a strong financial footing, with the majority of classes operating at or near full capacity providing a stable and reliable primary source of income.

Despite the ongoing challenges of rising staffing costs, the organisation has managed these pressures effectively, ensuring continued delivery of services while minimising the financial impact on beneficiaries. This has been achieved through a range of targeted discount schemes, including support for those in financial hardship and sibling discounts, which have helped maintain inclusivity and accessibility. A planned restructure of our Gymnastics for All (GfA) programme that will increase provision of classes from 36 to 44 weeks per year is expected to further strengthen the organisation's financial position through both increased revenue and broader participation.

Looking ahead, YCGF is well placed to continue its planned programme of facility investment. This includes much-needed refurbishment of existing amenities and future enhancements to the main activity area, all of which support the charity's long-term aims and sustainable service delivery.

Reserves policy

The charity has a reserves policy to enable sufficient funds for the controlled winding down of the charity should the need arise. The reserves policy assesses the amount of income required to ensure the charity can meet all of its commitments should it be required to close. Trustees are working towards building up the level of reserves so that the agreed amount of income can be set aside for use, should the need arise.

Going concern

The accounts for the year ended 31st August 2024 have been prepared on a going concern basis. The trustees have carefully considered the financial position of the Charity and consider that no material uncertainties exist with regard to its ability to continue to operate for the foreseeable future as a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

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

Recruitment and appointment of new trustees

We advertise online and within the club for new Trustees and have recently made a new appointment to the Board of Trustees. We have also unfortunately just lost our Treasurer so will be advertising for this position imminently. Our governing document allows a maximum of 7 Trustees of which there are currently 4.

Organisational structure

We have a Board of Trustees (BoT) to whom 5 Head of Sections currently report with line management covered by the Chair of the BoT in the first instance in terms of the delivery of the gymnastics programme. We also have a team of office/administration staff responsible for managing class membership etc. that report to the Board of Trustees in the same way. We are in the process of appointing a Club Director (CD) to take over management of staff and operations to alleviate pressure on the BoT.

Policy, strategy, finance, HR, facility are covered by the BoT. Day to day operations, programme of activities and their deliver etc. are handled by the employed coaches lead by the relevant Head of Section. Appointment of a Club Director will move significant part of management from the BoT to the CD.

Page 4

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

The board of trustees are responsible for the induction and training of new trustees.

Key management remuneration

The board of trustees are responsible for setting the pay and remuneration of the charity's key management personnel. Research has been conducted into levels of pay within the gymnastics community e.g. other clubs, job advertisements etc.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CE000493 (England and Wales)

Registered Charity number

1152515

Registered office

The Gymnastics Centre St John's Walk Heworth Green York North Yorkshire YO31 7SX

Trustees

M Wild R Edwards N Swain Treasurer (resigned 4.6.25) A Smith (appointed 22.7.24) A Vipas (appointed 2.4.25)

Company Secretary

M Wild

Independent Examiner

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

Bank

Lloyds Bank 2 Pavement York North Yorkshire YO1 9UP

Page 5

YORK CITY GYMNASTICS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 24 June 2025 and signed on the board's behalf by:

M Wild - Trustee

Page 6

YORK CITY GYMNASTICS FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024

The trustees (who are also the directors of York City Gymnastics Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORK CITY GYMNASTICS FOUNDATION

Independent examiner's report to the trustees of York City Gymnastics Foundation ('the Company')

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

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORK CITY GYMNASTICS FOUNDATION

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Julie A Young FCCA ACA The Institute of Chartered Accountants in England and Wales

Walter Dawson & Son Chartered Accountants Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG

Date: .............................................

Page 9

YORK CITY GYMNASTICS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Charitable activities
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Charitable activities
6
Charitable activities
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
fund
£
32
424,962
3,989
952
9,298
439,233
523,239
(84,006)
1,043,931
959,925		 2023
Total
funds
£
535
516,070
3,775
285
5,770
526,435
457,653
68,782
975,149
1,043,931

The notes form part of these financial statements

Page 10

YORK CITY GYMNASTICS FOUNDATION

BALANCE SHEET

31 AUGUST 2024

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one
year
15
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS		 2024
Unrestricted
fund
£
925,854
342
66,535
66,877
(20,306)
46,571
972,425
(12,500)
959,925
959,925
959,925		 2023
Total
funds
£
898,785
1,970
183,140
185,110
(17,464)
167,646
1,066,431
(22,500)
1,043,931
1,043,931
1,043,931

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 24 June 2025 and were signed on its behalf by:

The notes form part of these financial statements

continued...

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YORK CITY GYMNASTICS FOUNDATION

BALANCE SHEET - continued

31 AUGUST 2024

M Wild - Trustee

The notes form part of these financial statements

Page 12

YORK CITY GYMNASTICS FOUNDATION

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest income
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2024
£
(47,360)
(47,360)
(59,496)
952
(58,544)
(10,701)
(10,701)
(116,605)
183,140
66,535		 2023
£
104,987
104,987
(61,778)
285
(61,493)
(10,949)
(10,949)
32,545
150,595
183,140

The notes form part of these financial statements

Page 13

YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
Interest income
Decrease/(increase) in debtors
Increase in creditors
Net cash (used in)/provided by operations		 2024
£
(84,006)
32,427
701
(952)
1,628
2,842
(47,360)		 2023
£
68,782
32,442
1,819
(285)
(1,490)
3,719
104,987

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.9.23
Cash flow
At 31.8.24
£
£
£
Cash at bank and in hand 183,140
(116,605)
66,535
183,140
(116,605)
66,535
Debt
Debts falling due within 1 year (10,000)
-
(10,000)
Debts falling due after 1 year (22,500)
10,000
(12,500)
(32,500)
10,000
(22,500)
Total 150,640
(106,605)
44,035

The notes form part of these financial statements

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - 2% on cost Gymnastics equipment - 10% on reducing balance Computer equipment - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity charitable companyoperates a defined contribution pension scheme. Contributions payable to the charitycharitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

2.
DONATIONS AND LEGACIES
Donations
3.
OTHER TRADING ACTIVITIES
Shop/cafe takings
4.
INVESTMENT INCOME
Interest income
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Club fees
Charitable activities
Gymnasium hire
Charitable activities
6.
CHARITABLE ACTIVITIES COSTS
Charitable activities
7.
SUPPORT COSTS
Charitable activities		 Direct
Costs
£
354,015		 2024
£
32
2024
£
3,989
2024
£
952
2024
£
407,972
16,990
424,962
Support
costs (see
note 7)
£
169,224		 2023
£
535
2023
£
3,775
2023
£
285
2023
£
502,829
13,241
516,070
Totals
£
523,239
Other
£
169,224

continued...

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2024

7. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

==> picture [445 x 275] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |Charitable|Total| |activities|activities| |£|£| |Wages|16,233|13,254| |Social security|899|580| |Pensions|281|204| |Rates and water|4,862|5,684| |Light, heat and insurance|46,668|38,826| |Telephone and internet|4,616|4,158| |Postage and stationery|3,227|3,119| |Accountancy fees|4,302|2,557| |Legal and professional fees|1,210|2,693| |Bank and card charges|17,602|14,416| |Cleaning|29,925|23,230| |Sundries|4,273|3,162| |Repairs and renewals|24,082|11,296| |Pension charges|300|216| |Loan interest|701|1,819| |Depreciation of tangible fixed assets|10,043|8,796| |169,224|134,010|

----- End of picture text -----

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

==> picture [441 x 35] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Depreciation - owned assets|32,427|32,442|

----- End of picture text -----

9. TRUSTEES' REMUNERATION AND BENEFITS

During the year, A Smith, one of the charity's gymnastics coaches, was appointed as a trustee. While a trustee, they were paid £197 by the charity for their coaching work.

The charity had no legal authority to make the remuneration payment to A Smith under the charity's governing document, nor through any other means. The trustees are currently in discussion with the Charity Commission regarding how to resolve this matter.

A Smith no longer receives any remuneration from the charity.

continued...

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

9. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

During the year £722 was reimbursed to one trustee for competition expenses, repairs and general expenses (2023: £2,899 reimbursed to one trustee).

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
298,097
9,673
3,785
311,555		 2023
£
246,563
4,542
2,315
253,420

The average monthly number of employees during the year was as follows:

Part-time
Full-time		 2024
7
27
34		 2023
9
20
29

No employees received emoluments in excess of £60,000.

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

11. PRIOR YEAR RESTATEMENT

In the financial statements for the year ended 31 August 2023, depreciation on leasehold property brought forward at 1 September 2022 was understated by £45,574, and depreciation on leasehold property charged in the year was understated by £7,953. The trustees have therefore made a prior year adjustment to correct the comparative figures in the financial statements for the year ended 31 August 2024.

continued...

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

12. TANGIBLE FIXED ASSETS

Long
leasehold
£
COST
At 1 September 2023
744,925
Additions
46,346
At 31 August 2024
791,271
DEPRECIATION
At 1 September 2023
61,480
Charge for year
8,880
At 31 August 2024
70,360
NET BOOK VALUE
At 31 August 2024
720,911
At 31 August 2023
683,445
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Social security and other taxes
Other creditors
Accruals and deferred income		 Gymnastics
equipment
£
274,486
11,027
285,513
61,676
22,384
84,060
201,453
212,810		 Computer
equipment
Totals
£
£
3,506
1,022,917
2,123
59,496
5,629
1,082,413
976
124,132
1,163
32,427
2,139
156,559
3,490
925,854
2,530
898,785
2024
2023
£
£
342
1,970
2024
2023
£
£
10,000
10,000
5,438
3,681
1,184
601
3,684
3,182
20,306
17,464

continued...

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YORK CITY GYMNASTICS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years		 2024
£
12,500
2024
£
10,000
10,000
2,500		 2023
£
22,500
2023
£
10,000
10,000
12,500

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2024 (2023: £Nil).

Page 20