Charity number: 1154320
COLCHESTER SCHOOL OF GYMNASTICS
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

COLCHESTER SCHOOL OF GYMNASTICS
CONTENTS
Page
Reference and admlnlslratlve details of the Charlty, Ils Trustees and advisers
Trustees, report
Independeni examiner's report
Statement ot financial activities
9-10
Balance sheet
12-13
Statement of cash flows
14
Notes to the tlnanclal stalemenls
15-34

COLCHESTER SCHOOL OF GYMNASTICS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trusiees
Adam Harrington, Chair - from 23 May 2024 {appointed 29 February 2024}
Nikki Oakes, Chair - until 23 May 2024 (resigned 23 May 2024}
Lesley Aldons, Treasurer
Sam Copping
Shelley Chandler-symes
Lisa Piagetti
Annaliza Murphy
Nichola Horsley (resigned 23 May 2024)
Nicholas Mussett
Gemma Smith (appointed 23 May 2024)
Jade Oaks {appointed 23 May 2024}
Betti Pinter {resigned 9 January 20241
Charlty reglstered
number
1154320
Prlncipal office
Brinkley Grove Road
Colchester
Essex
C04 SDS
Accountants
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars
Apex 12
Old Ipswich Road
Colchester
Essex
C07 7QR
Bankers
CAF Bank
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Solicitors
Birkett Long
1 Amphora Place
Colchester
Essex
C03 3WG
Page 1

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together wilh the financial statements of the Charity for the 1 January
2024 to 31 December 2024.
Objectlves and actlvltles
a. Policies and oblectlves
The objectives of the CIO are:
{1) To advance the education of the public, in particular young people, in the subject of gymnastics and physical
education.
12) The promotion of communily participation in heatthy recreation for the benefil of the inhabitants of Colchesler
(Essex) and surrounding areas by the provision of facilities for participation in gymnastics.
(3) To act as a resource for young people living in Colchester (Essex) and surrounding areas, by providing
advice and assistance and organising programs of physical activities as a means of advancing in lile,
developing skill, capacity and capability.
In setting objectives and planning for activities. the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity (PB21'.
b. Strategies for achieving objectives
The School provides classes for all levels and ages, for girls and boys, teenagers and adults. Our recreational
gymnastics classes, where gymnasts attend once a week. are hugely popular but we also run successful
development and eltte squads. The School's gymnasts continue to enjoy success in a host of County, Regional
and National competitions and some of our coaches have been successful in increasing their level of coaching
and judging qualifications.
We also offer adult, baby and toddler gymnastics classes, as well as Freestyle Gymnastics which is specifically
aimed at young adults. Our facilities are also used to host trampolining, cheerleading and disability Classes.
c. Activltles undertaken to achieve objectives
The School offers a broad a range of classes, from Pre-school to Adult in order to extend the reach to as many
members of the public as possible. irrespective of ability with the goal of helping all members to realise their lull
potential.
d. Volunteers
The School could not continue to operate without the continued hard work of its staff in ensuring the ongoing
expansion of Ihe School is successful, together with the contribution made by a regular group of invaluable
volunteers who undertake a wide variety ot lasks, especially during the competition seasons.
The Trustees would like to extend their heartfelt thanks to all those who have given their time and effort so
generously, their help is very much appreciated.
Page 2

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievemenls and performanco
a. Main achievernents of the Charity
Fundraising was 'low key this year given the ongoing cost of living situation. We had the usual balcony
refreshments at competitions and our in-house compelitions were once again very successful. Sales of
merchandise at POS and at competitions proved popular again this year and there are Opiions in place for 2025
for more social & family oriented fund raising events such as a fun run and Bar-B-Que.
A close eye is being kept on the operational performance of the heating system lo the back gym which may be
coming toward the end of its serviceable life. Quotes will be obtained during Q1-Q2 for the replacement.
There was a Christmas Display this year which proved to be a great success both as a fundraiser and for all the
enjoyment it gave to the participants and audience members alike. A big thank you to all involved in the
organisation and the volunleers who helped with refreshments and setting up.
We should like to extend a huge thank you to all of our staff and coaches who continue to work as a team
keeping our gymnasts and parents engaged and supportive of the Club.
We should also like to extend our thanks once again lo Andrea Cook and Emma Elkin. our Accountant, who
continued to work tirelessly throughout the year once more to ensure we maintained a sleady financial position to
safeguard the Club's ongoing success. 2024 was Lesley Aldon's last year as Treasurer. She has stepped down
after over 3 years of providing financial and commercial oversight. She will be a great loss to Ihe committee and
we extend a big thank you from the club and all who have worked alongside her. A search for her replacement is
underway.
Page 3

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financlal revlew
Financlal revlew
The unaudited accounts for the year ended 31 December 2024 show a surplus of £37,088 (2023: £51 ,870).
The gym has had a very successful year with classes operating once again al near full capacity. A large waiting
list continues to provide comfort in maintaining income levels and the continued success of the club.
We continue to manage our costs and resources efficienlly to ensure the SLsccessful operation of the gym.
However, rising wages. employer taxation and utility costs poses a significant financial burden and threatens the
level of future surplus expectations.
We will continue to produce monthly financial reporting wth Management Accounts reviewed quarterly at trustee
level, to enable proactive decision making and to provide assurances to our members that the gym is able to
meet ils financial, social and charitable objectives.
ncome
Total incoming resources for this year of £867,599 (2023: £812,151) represents an increase of 7f/*• on the prior
year.
The key increases in income can be attributed to a strong gr0￿h in Trampoline class (11Yo increase). preschool
class {23 % increase) and Artistic Gymnastic income19°/0 increase). Recreation class income remains strong,
with classes at full capacity, and remains vital in supporting the gym's diverse class availability.
Fundraising has been successful for the year with a well supported calendar of competitions and the 2024
Christmas Show, all held at the gym. Other income such as vending and retail sales continue to provide
additional funding support for gymnastic activities.
Expenditure
Total outgoing resources for the year were £830,511 {2023: £760,281), an increase of 9Y¢ on the prior year.
The key increase is attributable to payroll (8¥0 increase) and energy cosls (260/0 increase). With the increase in
National Minimurn Wage, employer taxation and utility prices, these significant costs have been thoroughly
reviewed and carefully budgeted for 2025.
Management and the trustees will continue to collectively monitor and review all costs going forward.
Balance sheet
The net assets of the club remain in a strong positive position and can be credited to the careful control of costs
and the full capacity of classes.
Debtors are minimal due to the implementation of new gym software for fees and subscriptions.
The Truslees have reviewed tho level of funds held by the Charity al 31 December 2024, and a decision was
made to designale £35,000 of unrestricted funds. Detailed descriptions of the nature of these designations are
included in note 18 of the accounls.
b. Golng 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. Further details regarding the adoption of the going
concern basis can be found in Ihe accounting policies.
Page 4

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
c. Reserves pollcy
Free reserves are considered with reference to the Analysis of Net Assets in Note 20 and are calculated by
deducting the fixed assets from the unrestricted fund. The primary asset of the Charily is the building that we
occupy to provide our charitable aims. This, along with all other fixed assets. means that £920,758 of Charity
funds can only be realised by disposing of tangible fixed assets.
For the purposes of short and medium-term financial management, the Trustees are concerned with the
management of working capital, and the healthy working capital position is entirely in line with their policy of
holding free resources sufficient to fund three months of ongoing unrestricted expenditure to cover the
eventuality of a material decline in incoming resources.
This reserves policy of three months of unrestricted expenditure is estimated to be in the region of £200,000.
Free reserves as at the end of December 2024 were £325.374. This does not include the value of any
designated reserves.
The Trustees are aware that reserves levels are in excess of the slated policy, however, predicted cost
increases are likely to impacl on reserves levels, and the Twstees will continue to review and discuss these
throughout 2025, ensuring funds are available for future projects and expendilure as required.
d. Malerlal Investments pollcy
All material investments made by the club are subject to approval by the Committee and must onty be made in
accordance with the School's objectives.
e. Prlncipal risks and uncertalntles
The key risk facing the Charity at the moment is the overall cost increases being faced, particularly in respect ol
energy costs and interesl rates, but also across the board with inflationary pressure. Regular, careful monitoring
and review of the Charitys financial position is going to minimise this risk.
Major risks have been reviewed and systems or procedures have been established to manage those risks.
f. Flnanclal rlsk management objectlves and pollcles
The School's policy requires that three months of expenditure is retained in the bank account at all times in the
event of unexpected drop in income.
Outgoing payments by Ihe School are subject to approval limits and bank transactions include secondary
signature by either the Chairperson or Treasurer. Management accounts are prepared and reviewed on a
regular basis, including comparison to prior year and budget.
g. Prlnclpal fundlng
The School is wholly reliant on fees and donations for sustainability and does not receive regular grants from
third parties.
Page 5

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
a. Constilution
Colchester School of Gymnastics is a registered charity, number 1154320.
The School is a Gharitable Incorporated Organisation incorporated in October 2013. The Association
Constitution was amended in March 2022.
b. Melhods of appointment or elecllon of Trustees
for trusteeshi
(a) Every charity trustee must be a natural person.
(b) No one may be appointed as a charitytrustee- if he or she is under the age of 16 years. or if he or she would
automatically cease to hold office by virtue of section 178-180 of the Charilies Act 2011 .
(c) No one Is entitled to act as a charity trustee whether on appointment or on any reappointmenl until he or she
has expressly acknowledged, in whatever way the charty trustees decide, his or her acceptance of the office
of charity trustee.
(d) At least one of the Irustees of the CIO must be 18 years of age or over. there is no trustee aged at least 18
years, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a
new charity trustee.
There must be at least three charity trustees. 11 the number falls below this minimum, the remaining trustee or
trustees may act only to call a meeting of the charity trustees or appoint a new charity trustee.
At every annual general meeting of the members of the CIO, subsequent to the first AGM, one-third of the charity
trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the
number nearest to one-third shall retire from office, but if there is only one charity trustee, he or she shall retire.
The charity trustees to retire by rotation shall be those who have been longest in office since their last
appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire
shall (unless they otherwise agree among themselves) be determined by lot.
The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of
a charity trustee who has retired or been removed, or as an additional charity trustee. There is no specified limit
on the number of truslees.
Page 6

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structurei governance and management (contlnued)
c. Organlsalional struclure and declslon-maklng pollcles
The charity trustees shall manage Ihe affairs of the GIO and may for that purpose exercise all the powers of the
cio
The school shall be managed by a committee of trustees to include a Chairman, Secretary, Treasurer and
Welfare Officer. There shall be a representative from each section of the club represented (female gymnasts
and male gymnasts) and the Local Authority shall be entitled to nominale a representative to seNe on the
committee. The Centre Manager andlor any Departmenta] Head may be present for part of or all of any meeting
at the specrfic request of Ihemselves or the Trustees.
Day-to-day business decisions are made by the Committee-appointed Centre Manager. For larger financial or
substantial personnel decisions, the Centre Manager will approach the Committee for approval.
d. Pollcles adopted for the Inductlon and tralnlng of Trustees
We have a Welcome Pack which is made available to new Trustees containing a Guide to The Role of CSG
Committee and a copy of the Constitution.
e. Pay policy lor key management personnel
A pay structure is in place for full-time members of staff according to their roles, and for coaching staff the rate of
pay is dependent upon age and qualification.
f. Related party relatlonships
Five of the Trustees of Colchester School of Gymnastics are related to staff members who are retained with a
contracl of employment. The aggregate value of the contracl of employment is immaterial. The related party
Iransactions were on terms equiva19nt to those of other members of staff.
Plans for future perlods
Our main focus will be to continue to ensure the luture viability of the School and providing relevant opportunities
for our community members and staff.
We will continue to support and encourage training and development opportunities to all coaches and staft
members
Equipment under review for replacement in 2025 includes the pit and the pit foam logs. We will continue to
monitor the condition and life ol equipment, and repair or replace when required. Health and safety of our
employees and members remains our priority at all times
Members, Ilablllly
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal
responsibility for settling its debts and liabilities.
Page 7

COLCHESTER SCHOOL OF GYMNASTICS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement ol Trustees, responsibililies
The Trustees 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
Praclicel.
The law applicable to charities in England & Wales requires the Trustees to prepare financial stalements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources. including its income and gxpenditure. for that period. In preparing th8se financial
statemenls, the Trustees are required to..
select suitable accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP {FRS 102)-
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Slandards (FRS 102> have been followed. subject to any material
departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the
Charity will continue in business.
The Truslees are responsible for keeping adequate accounting records thal are suff icient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Adam Harrlngion
Chair
Date: 91
Page 8

COLCHESTER SCHOOL OF GYMNASTICS
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's r8POrt to the Trustees of Colchester School of Gymnasllcs {'the
Charity,)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
December 2024.
Responsibllltles and basls of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the 2011 AGt'}.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Direolions given by the Gharity Commission under
section 14515){b) of the 2011 Act.
Independent examlner's statement
Since the Charitys gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinalion because l am a member
of the Association of Chartered Certified Accountants, which is one of the listed bodies.
Your attention is drawn to the facl that the Charity has prepared the accounts in accordance with Accounting and
Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in
preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April
2005 which is referred lo in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect:
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act. or
the accounts do not accord with those records. or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair. view which is not a matter considered as part of an independent
examinalion.
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.
This report is made solely to the Charivs Trustees, as a body, in accordance with Part 4 of the Chartties
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys
Trustees those matters l am required lo state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do nol accept or assume responsibility to anyone other than the
Charily and the Charity's Trustees as a body, for my work or for this report.
Page 9

COLCHESTER SCHOOL OF GYMNASTICS
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Signed..
Dated:
11 +r& 2025
FCCA FMAAT
Daniel Aldworth
Griffin Chapman Chartered Accountants
4 & 5 The Cedars
Apex 12
Old Ipswich Road
Colchester
Essex C07 7QR
Page10

COLCHESTER SCHOOL OF GYMNASTICS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted Unrestrictod
funds
lunds
2024
2024
Total
funds
2024
Total
lunds
2023
Nots
Income from.
Donations and legacies
Charitable activities
Other Irading activities
Investments
1,800
150
1,800
784,067
76.968
4,764
1,800
752,407
56,097
1,847
783,917
76,968
4,764
Total income
1,950
865,649
867,599
812,151
Expenditure on:
Raising funds
Charitable activities
52,039
772,241
52,039
778,472
36,055
724,226
6,231
Total expenditure
6,231
824,280
830,511
760,281
Net (expendlture)Ilncome
Transfers between funds
(4,281)
499
41,369
(499)
37,088
51,8711
18
Net movement In funds
(3,782)
40,870
37,088
51,870
Reconcilialion of funds:
Total funds brought forward
Net movement in funds
54,746
(3,782)
1,191,903
40,870
1,246,649
37,088
1,194,779
51.870
Totsl funds carried forward
50,964
1,232,773
1.283.737
1.246,649
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 15 10 34 form part of these financial statements.
Page11

COLCHESTER SCHOOL OF GYMNASTICS
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
13
920,758
905,688
920,758
905,688
Current assets
Stocks
Debtors
Cash at bank and in hand
14
15
9,280
7,359
573,913
4,472
5. 796
540,542
590,552
550.810
Creditors: amounts falling due within one
year
16
(167,267)
(133. 700)
Net current assets
423,285
417,110
Total assets less current liabllltles
1,344,043
1,322.798
Creditors: amounts falling due after more
than one year
17
(60,306)
(76,149)
Net assets excludlng penslon asset
1,283,737
1,246,649
Total nei assets
1,283,737
1,246,649
Charity funds
Restricted funds:
Restricted funds
Restricted fixed assel funds
18
18
2,605
48,359
4.688
50.058
Total restricted funds
Unreslricted funds
18
18
50,964
1,232,773
54,746
1.191.903
Total funds
1,283,737
1,246,649
The financial stat8ments were approved and aulhorised for issue by the Trustees on
31 2025
and signed on their behalf by:
Page 12

COLCHESTER SCHOOL OF GYMNASTICS
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
Adam Harrington
Chair
Lesley Aldo
Treasurer
The notes on pages 15 to 34 form part of these financial statements.
Page 13

COLCHESTER SCHOOL OF GYMNASTICS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from operatlng actlvities
Net cash used in operating activities
94,409
83.913
Cash flows from Investing activities
Dividends. interests and rents from investments
Proceeds from the sale of tangible fixed assels
Purchase of tangible lixed assets
4,764
(718)
(43,061)
1,762
1.132
(54,917)
Net cash used in Investlng actlvllles
(39,015)
(52,023)
Cash Ilows from flnanclng activities
Repayments of borrowing
Interest paid
(14.329)
(7,694)
(73,356)
{8,409)
Nei cash used In flnanclng activities
{22,023)
{21,765)
Change In cash and cash equivalents In the year
Cash and cash equivalents at the beginning of the year
33,371
10,125
530,417
540,542
Cash and cash equivalents at the end of the year
573,913
540,542
The notes on pages 15 to 34 form part of these financial statements
Page 14

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
The CharitabSe Incorporated Organisation (CIO) 1154320 was registered on 23rd October 2013. to take
foNard the work of the Unincorporated Association registered number 1002911. Assets, liabilities and
funds were transferred.
The members of the CIO are the Trustees named on page 1.
The presentation currency of the financial statements is the GBP Pound Sterling (£1.
Accountlng pollcies
2.1 Basis of preparallon of flnanclal statements
The financial statements 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} (effecttve 1 January 20191, the Financial Reporting Slandard
applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charilies {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue
and fair, view. This departure has involved following the Charilies SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Slatement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Colchester School of Gymnastics meets the definition of a public benefit entty under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
22 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whelher there are any
material uncertainties relaled to events or conditions that may cast significant doubl on the ability of
the charity to continue as a going concern.
The Trustees make this assessment in respect of a period of at least one year from the date of
authorisation for issue of the financial statements and have concluded that the charity has adequate
resources to continue in operational existence for the foreseeable future and Ihere are no material
uncertainties about the charivs ability to continue as a going concern, thus they continue to adopt the
going concern basis of accounting in preparing the financial statements.
Page 15

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (contlnued)
2.3 Income
All incoming resources are included in the Statement of Financial Activities {SoFA) when the charity
is legally entitled to the income after any performance conditions have been met. the amount can be
measured reliably and it is probable that the income will be received.
The Charity operates a discount slructure on gymnastics fees, which are recognised in direct costs.
Discounts do not apply to merchandise. competition fees or affiliations.
No amount is included in the financial slatemenls for volunteer time in line with the SORP. Further
detail is given in the Trustees, Annual Report.
For donations to be recognised. the charity will have been notified of the amounts and the settlement
date in writing. Amounts are recognised upon enlitlemenl. If there are conditions attached to tho
donation and this requires a level of performance before entitlement can be obtained, then income is
deferred until those conditions are fully met.
Income from trading activities includes income earned from fundraising events and trading activities
to raise funds for the charity. Income is received in exchange for supplying goods and se￿iCe8 in
order to raise funds and is recognised when entillement has occurred.
Investment income is earned through holding assels for investment purposes such as short term
savings and deposil accounts. 5t includes dividends. interest and rent. Interest income is recognised
as the charity's right to entitlement occurs.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.4 Expendlture
Expendilure 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.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to that category.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charitys objectives. as well as any associated support costs.
Redundancy costs and termination payments are charged to the income statemenl in the year in
which an irrevocable commitment is made to incur the costs.
All expenditure is inclusive of irrecoverable VAT.
Page 16

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles (contlnued)
2.5 Governmenl grants
Government grants are recognised using the performance model. Under the p9rformance model,
where the grant does not impose specified future performance-related conditions on the recipienl, it
is recognised in income when the grant proceeds are received or receivable. Where the grant does
impose specified future performance-related conditions on the recipient, it is recognised in income
only when the performance-relaled conditions have been met.
Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as
a liability.
2.6 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 notilication of the interest paid or payable by the
institution with whom the funds are deposited.
2.7 Taxatlon
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 8 of the Finance Act
2010 and therefore it meets the definition of a charitablo company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporalion Ta￿ Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.8 Tangible fixed assets and depreclatlon
Tangible fixed assets costing £500 or more are capitalised and recognised when fulure economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model. tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Page 17

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcies (contlnued)
2.8 Tangible fixed assets and depreclation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives. using the straight-line method.
Depreciation is provided on the following bases:
Gym equipment- fixed
Gym equipment- unfixed
Premises improvements
Fixtures and fittings
Ollice equipment
10-25years
5-10years
10-20years
5- 10years
3- 10years
Gains and losses on disposals are determined by comparing the proceeds with th8 carrying amount
and are recognised in the Statement of financial activities.
The property is nol being depreciated as the Trustees consider that this will appreciate over time and
therefore they consider leaving the property at the original cost is a more realistic reflection of the
value.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value.
2.10 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and 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.
2.12 Liabilitles and provlslons
Liabililies are recognised when there is an obligation at the Balance sheet date as a resutt of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
Ihe effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks sp8cific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 18

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounllng pollcles (contlnued)
2.13 Flnanclal Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.14 Operaling leases
Rentals paid under operating leas8s are charged to the Statement of financial activitigs on a straight-
line basis over the lease term.
2.15 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
The assets of the scheme are held separately from those of the charity in an independently
administered fund.
Paymenls to defined contribution pension schgrnes are charged as an expense when they fall due.
2.16 Fund accountlng
General funds are unrestricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by tha Trustees for particular
purposes. The aim and use of each designated lund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Restrlcted
tunds
2024
Total
funds
2024
Total
funds
2023
Donations
1,800
1.800
1,800
Total 2023
1,800
1,800
Page 19

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charllable activities
Restrlcled Unrestricted
lunds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Income from charitable activities
150
783.917
784,067
752,407
Total 2023
752.407
752,407
This includes the provision of gymnastic coaching. holiday classes, drop in sessions and facililies hire
charges.
Income from other trading actlvltles
Income from fundralsing events
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Fund generation
23,621
23,621
19,431
Total 2023
19,431
19,431
During the year various fundraising activities took place including raff les and Christmas Display.
Income from non charitsble tradlng actlvltles
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Trading income
53.347
53,347
36,666
Total 2023
36,666
36,666
The Charity raises funds by providing vending machines for public use on site and sells specialist clothing
and consumables for gymnasts.
Page 20

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Inveslmenl income
Unrestricted
funds
2024
Total
funds
2024
Total
lunds
2023
Investment income
4.764
4,764
1,847
Total 2023
1,847
1,847
Expenditure on raising tunds
Fundralslng iradlng expenses
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Costs of generaling funds
52,039
52,039
36,055
Total 2023
36,055
36,055
This includes costs associaled with the vending machines and clothing and consumable sales.
Page 21

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis ol expendllure on charltable actlvltles
Summary by fund lype
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Charitable activities expenditure
Governance costs
6.231
768,851
3.390
775.082
3,390
722, 726
7,500
Total 2024
6,231
772,241
778,472
724,226
Total 2023
3,623
720,603
724,226
Analysls of expendlture by activities
Aclivilies
undertaken
dlrectly
2024
Support
costs
2024
Total
funds
2024
Total
lunds
2023
Charitable activities expenditure
Governance costs
484,077
291,005
3,390
775,082
3,390
722, 726
1,500
Toial 2024
484,077
294,395
778,472
724,226
Total 2023
445,644
278,582
724,226
Page 22

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysls ot expendilure by aclivilles (conllnued)
Analysis ot direct costs
Charitable
activities
2024
Total
funds
2024
Total
funds
2023
Wages and salaries - coaching
Equipment costs
Gymnastics costs
Discounts allowed
407.437
25,142
39.732
11,766
407,437
25,142
39,732
11,766
373,255
23.890
36,091
12,408
Total 2024
484,077
484,077
445,644
Total 2023
445,644
445,644
Analysis of support costs
Charitable Governance
aclivilies
cosls
2024
2024
Total
funds
2024
Total
fvnds
2023
Wages and salaries - other staff
Other staff costs
Premises costs
Bank charges and card fees
Olher overheads
Other staff costs
Interest payable
Governance costs
114,369
28,709
92,823
24,994
16,439
5,977
7.694
114,369
28,709
92,823
24,994
16,439
5,977
7,694
3,390
109,980
23,334
91,390
22,096
17,456
4.417
8,409
1,500
3,390
Total 2024
291,005
3.390
294,395
278,582
Total 2023
277,082
7,500
278,582
10. Independent examiner's remuneratlon
The independent examiner's remuneration amounts to an independent examiner fee of £1,575 (2023
£1,500), and preparation of the accounts from a trial balance of £1,575 {2023 - £ -}.
Page 23

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Staff costs
2024
2023
Wages and salaries
Social security Costs
Contribution to defined contribution pension schemes
491,437
22,354
8,015
457,355
18,764
7.116
521,806
483.235
The average number of persons employed by the Charity during the year was as follows:
2024
No.
All staff
57
No employeg received remuneration amounling to more than £60.000 in either year.
The total amount of employee benefits (including employer pension contributions and employer national
insurance conlributionsl received by key management for their services to the Charity was £66,908
{2023.. £76,942). Key management compris8S the senior leadership team.
12. Trustees, remuneralion and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - ).
Page 24

m th ¢
<71

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Tangible flxed assets (continued)
Colchester School of Gymnastics lease the land on which the premises is sited (title number EX37410)
from Colchester Borough Council for a peppercorn renl of £1,700 per year. There is no recognition as a
fixed asset for this.
The propety, recognised as fixed assets above. relates to the building that was subsequently built on the
leased land - consisling of the gym hall. offices, rooms and car park. The gym was further exlended in
2014 and the cost of this was also capitalised at the time.
14. Stocks
2024
2023
Clothing, vending and other stock
9.280
4,472
15. Debtors
2024
2023
Due within one year
Trade debtors
Prepayments and accrued income
195
7,164
1.488
4,308
7,359
5, 796
16. Creditors: Amounts falllng due wlthln one year
2024
2023
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
15,831
{174)
6,983
1,860
142.767
14,317
(263)
7,740
1.780
110,126
167,267
133, 700
Page 26

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Deferred income at 1 January 2024
Resources deferred during the year
Amounts released from previous periods
94,031
128,124
(94,031)
91,883
94.031
(91,683)
128,124
94.031
Income in advance relates to classes and sessions paid for in advance.
The Club collects and pays over British Gymnastics and Eastern Counties Gymnastics Association fees
paid by members to the Club. Where these fees are not yet paid over to Ihe two organisations, at year
end. they are recorded on the Balance Sheet. There were no such fees included in Income In Advance
at the year end, for both this year and last year.
Amounts do not show on the SOFA.
17. Creditors: Amounts falllng due after more Ihan one year
2024
2023
Bank loans
60,306
76,149
The loan with CAF Bank is on a capital and repayment basis.
Page 27

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Slalement of funds
Slaiement of funds - current year
Balance at
31
December
2024
Balance ai 1
January
2024
Transfers
in/out
Income Expendltur8
Unrestricted funds
Designated funds
New heating system
Refurbishment
Seating
25,000
25,000
10,000
25,000
(25.000)
10,000
60,000
(25,000)
35,000
General funds
Unrestricted funds
1,131,903
865,649
(824,280)
24,501
1,197,713
Tolal Unrestrlcled funds
1,191,903
865,649
(824,280)
{499} 1,232,773
Restricted funds
Jack Petchey
Other restricted funds
4,688
1.800
150
(2,581)
(1,302)
(150)
2,605
4,688
1,950
(2,581)
(1,452)
2,605
Restrlcted flxed assets funds
Car park and equipment
50,058
{3,650)
1,951
48,359
Total Restri￿ed funds
54,746
1,950
(6,231)
499
50,964
Total of funds
1,246,649
867,599
(830,511)
1,283,737
Page 28

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Slalement ot funds (contlnued)
Restricted Funds
Restricted funds are subject to specific condilions by donors as to how they may be used.
During the year Ihe Charity received £1,800 from The Jack Petchey Foundation, as part of the
Achievement Awards scheme. Each award winner receives a certificate. pin badge and a book frorll Sir
Jack Petchey as well as choosing how to spend £300 to benefit the club. Expenditure in the year has
gone towards equipment and a team activity.
In addition. £1 ,302 of this grant funding in the year, was transferred to Restricted fixed assets, to support
the purchase of some gym equipment.
£150 of restricted income was recewed towards a gymnast's trampolining course costs and this was
transferred to unreslricted funds, in the year.
The Restricted Fixed Assel Reserve has any equipment that has been bought using restricted funds
capitalised into it, along with the capilalisation of the car park. The NBV of the car park as at 31.12.2024
was £43,151 and the equipment was £4.560.
Designated Funds
Designated funds comprise funds which have been set aside at the discrelion of the Trustees for specific
purposes.
During the year. the previously designated amount of £25,000 was transferred to unrestricted general
reserves. to support expenditure in completing the refurbishment project. This leaves £35,000 of
designated reserves at year end.
Unrestricted Funds
All other donations were unrestricted. Unrestricted Funds are available for use at the discretion of the
Trustees in lurtherance of their charitable objectives unless they have been designated for other
purposes.
A Iransfer was made from the unrestricted fund, of £649, to support Rgstricted fixed asset reserves
expendilure.
Page 29

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Stalement of funds (continued)
stsiement of funds - prior year
Balance al
31
December
2023
Balance al
l January
2023
Transfers
in/ou¢
Income Expenditure
Unrestricted funds
Deslgnated funds
New heating system
Refurbishment
Seating
Sprung floor
25,000
25,000
25,000
yo,000
25,000
10.000
(45,000)
45.000
70.000
{io,000)
60,000
General funds
General Funds - all funds
7,060, 106
810,351
(756,659)
18.105
1,131,903
Total Unrestricted funds
1.130, 106
810,351
(756,659)
8,105
1,191.903
Reslrlcted funds
Jack Petchey
ECGA Bursary
Lighting Awardlother
6,156
1.375
6,889
1,800
(269)
(2,999)
(1,375)
(6,889)
4,688
14,420
1,800
(269)
(11,263)
4,688
Restricted flxed asset funds
Car park and equipment
50,254
(3,354)
3,158
50,058
Tolal Reslrlcled funds
64,674
1,800
(3,623)
(8,105)
54, 746
Total of funds
1,194,780
812,151
(760,282)
1,246,649
Page 30

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19. Summary of funds
Summary of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Translers
inlout
Income Expendlture
Designated tunds
General funds
Restricted funds
Restricled fixed asset funds
60,000
1,131,903
4,688
50,058
(25,000)
24,501
<1,452)
1,951
35,000
1,197,773
2,605
48,359
865,649
1,950
(824,280)
(2,581)
(3,650)
1,246,649
867.599
(830,511)
1,283,737
Summary of funds- prior year
Balance al
31
Decembei
2023
Balance at
l January
2023
Transfers
in/oul
Income Expenditure
Designaled funds
General funds
Restricted funds
Restricted fixed asset funds
70,000
1,060, 106
Y4,420
50,254
(10,000)
18,105
(11,263)
3,158
60,000
1,131,903
4,688
50.058
810,351
Y,800
(756,659)
(269)
(3,354)
1,194,780
812, 151
(760,282)
1,246,649
Page 31

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Analysis of net assels between lunds
Analysis of net assets between funds - current perlod
Restricted
Restrlcted flxed asset Unrestrlcted
funds
funds
funds
2024
2024
2024
Tolal
funds
2024
Tangible fixed assets
Current assels
Creditors due within one year
Creditors due in more than one year
48,359
872,399
920,758
587,947
590,552
(167.267) {167,267)
{60,306)
{60,306)
2,605
Total
2,605
48,359
1,232,773
1,283,737
Analysls of nel assets between funds - prlor porlod
Restricteo
Restricted fixed assel Unrestricteo
funds
funds
funds
2023
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
50,058
855,630
905,688
546,122
550,810
(133,700) (133, 700)
(76,149)
(76.149)
4.688
Total
4.688
50,058
1,191.903
1,246,649
Page 32

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Reconclllatlon ol net movement In funds to net cash f low from operallng actlvltles
2024
2023
Net income lor the period {as per Slatement of Financial Activities)
37,088
51,870
Adjustments for:
Depreciation charges
Loss/(profit) on the sale of fixed assets
Decrease/(increase) in stocks
Decreasel(increase) in debtors
Increase in credttors
Interest paid
Interest received
28,709
23,333
(104)
386
1,581
198
8,409
(1,762)
(4,808)
(1,563)
32,053
7,694
(4,764)
Net cash provlded by operatlng acllvltles
94.409
83,911
22. Analysls ol cash and cash equlvalents
2024
2023
Cash in hand
573,913
540,542
Total ￿$h and cash equivalents
573,913
540,542
23. Analysis of changes in nel debt
At1
January
2024 Cash flows
At31
December
2024
Cash at bank and in hand
Debt due within 1 year
Debt due after l year
540,542
(14,317)
(76,149)
33,371
{1,514)
15,843
573,913
(15,831)
(60,306)
450,076
47,700
497,7T6
Page 33

COLCHESTER SCHOOL OF GYMNASTICS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
24.
Penslon commltments
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the charity in an independenlly adminislered fund. The pension cost charge
represenls contributions payable by the charity to the fund and amounted to £8,015 (2023 - £7.116}.
£1,734 (2023 - £1,780) was payable to the fund at the balance sheet date and are included in creditors.
25. Operating lease commitmenls
At 31 December 2024 the Charity had commitments to make fulure minimum lease payments under non-
cancellable operating leases as follows:
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
7,491
3,664
6,326
12,261
11,155
18.587
The following lease payments have been recognised as an expense in the Statement of financial
activities:
2024
2023
Operating lease rentals
7,338
8.640
26. Related party transactions
During the year, five of the Trustees of Colchester School of Gymnastics were related to staff members
who are relained with a contract of employment. The aggregate value of the contract of employment is
immaterial. The related paty transactions were on terms equivalent to those of olher members of staff.
Page 34