Charity registration number: 1159361
Arabian School of Gymnastics
Annual Report and Financial Statements
for the Year Ended 30 June 2025
Arabian School of Gymnastics
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 15 |
Arabian School of Gymnastics
Reference and Administrative Details
Trustees Mr Anthony Clark G Howton Albert Bernard K Gibbs Charity Registration Number 1159361 Principal Office Bletchley Leisure Centre Princes Way Bletchley Milton Keynes MK2 2HQ Independent Examiner Jason Green
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Arabian School of Gymnastics
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2025.
Achievements and performance
Arabian School of Gymnastics has continued to deliver its core charitable activities during the year, maintaining provision of gymnastics programmes to the local community and sustaining membership participation.
Income for the year remained broadly stable at £334,054 (2024: £328,686), reflecting continued demand for the Club's activities and a consistent level of membership subscriptions.
During the year, the Club undertook a significant organisational restructure in February 2025, with the aim of addressing operational challenges and supporting the long-term sustainability of the organisation. This resulted in additional costs being incurred during the financial year.
The Club has also been involved in legal claims brought by two former employees. The trustees have acted throughout in accordance with appropriate professional legal and HR advice. Subsequent to the year end, the trustees have agreed heads of terms, in principle, to settle these matters, however formal settlement agreements have not been received or completed, and the final financial impact is yet to be concluded.
Total expenditure increased to £349,110 (2024: £302,919), reflecting staffing costs, restructuring activity and costs associated with managing these matters. Consequently, the Club recorded a net deficit of £15,056, compared to a surplus of £25,767 in 2024.
The deficit has reduced the Club's reserves to £96,765 (2024: £111,781).
Cash balances at the year end were £52,589 (2024: £73,854), reflecting the impact of the operating deficit and increased expenditure during the year.
The trustees recognise that the level of readily available cash is limited in the context of the charity's ongoing financial commitments. The anticipated settlement of legal matters is expected to result in further reductions in short-term liquidity.
The charity's ability to meet its obligations as they fall due is dependent on the successful conclusion of these matters and the careful management of cash flow. These conditions give rise to uncertainty regarding the charity's short-term financial position, which the trustees continue to monitor closely.
In conclusion, the year reflects a period of financial challenge and transition, with stable income offset by increased expenditure and exceptional costs. The trustees remain focused on stabilising the organisation and ensuring that it can continue to deliver its charitable objectives.
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Arabian School of Gymnastics
Trustees' Report (continued)
Financial review
Policy on reserves
The trustees recognise the importance of maintaining adequate reserves to ensure the charity can continue to operate and meet its financial obligations as they fall due.
The charity's policy is to maintain sufficient unrestricted reserves to:
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manage short-term cash flow requirements
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meet contractual and creditor obligations.
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provide a buffer against unforeseen expenditure or loss of income.
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support an orderly wind-down of activities, if required.
At 30 June 2025, the charity held unrestricted reserves of £96,765 (2024: £111,781)
During the year, reserves have reduced as a result of operating deficits and additional costs associated with organisational restructuring and ongoing legal matters.
The trustees note that a significant proportion of reserves is represented by non-cash assets, and therefore available cash resources are lower than total reserves may suggest. At 30 June 2025, cash balances were £52,589, which limits the charity's short-term financial flexibility.
The trustees recognise that the charity is operating with limited financial headroom. Anticipated settlement of ongoing legal matters is expected to result in further reductions in cash reserves in the short term.
The adequacy of reserves is therefore dependent on the successful resolution of these matters and the charity's ability to maintain sufficient liquidity.
As a result, the current level of reserves may not be sufficient to fully mitigate financial risks in the event of further adverse developments.
The trustees are actively reviewing the reserves position and have implemented measures to monitor cash flow closely, control expenditure, and assess the ongoing financial sustainability of the charity.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: 30/04/2026
......................................... Mr Anthony Clark Trustee
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Arabian School of Gymnastics
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by: 30/04/2026
......................................... Mr Anthony Clark Trustee
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Arabian School of Gymnastics
Independent Examiner's Report to the trustees of Arabian School of Gymnastics
I report to the trustees on my examination of the accounts of Arabian School of Gymnastics for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity trustees of Arabian School of Gymnastics you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Arabian School of Gymnastics's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since Arabian School of Gymnastics's 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 I am qualified to undertake the examination because I am a member of FCACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Arabian School of Gymnastics as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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 examination.
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.
...................................... J Green FCACCA
30/04/2026 Date:.............................
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Arabian School of Gymnastics
Statement of Financial Activities for the Year Ended 30 June 2025
| Note Income and Endowments from: Donations and legacies Other trading activities Total income Expenditure on: Charitable activities Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Donations and legacies Other trading activities Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 130 333,924 334,054 (349,110) (349,110) (15,056) (15,056) 111,821 96,765 Unrestricted funds £ 692 327,994 328,686 (302,919) (302,919) 25,767 25,767 86,014 111,781 |
Total 2025 £ 130 333,924 |
|---|---|---|
| 334,054 | ||
| (349,110) | ||
| (349,110) | ||
| (15,056) | ||
| (15,056) 111,821 |
||
| 96,765 | ||
| Total 2024 £ 692 327,994 |
||
| 328,686 | ||
| (302,919) | ||
| (302,919) | ||
| 25,767 | ||
| 25,767 86,014 |
||
| 111,781 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14.
The notes on pages 8 to 15 form an integral part of these financial statements. Page 6
Arabian School of Gymnastics
(Registration number: 1159361) Balance Sheet as at 30 June 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 8 | 55,807 | 54,627 |
| Current assets | |||
| Stocks | 9 | 6,612 | 6,602 |
| Debtors | 10 | 31,805 | 20,539 |
| Cash at bank and in hand | 11 | 52,589 | 73,854 |
| 91,006 | 100,995 | ||
| Creditors: Amounts falling due within one year | 12 | (25,659) | (12,834) |
| Net current assets | 65,347 | 88,161 | |
| Total assets less current liabilities | 121,154 | 142,788 | |
| Creditors: Amounts falling due after more than one year | 13 | (24,389) | (31,007) |
| Net assets | 96,765 | 111,781 | |
| Funds of the charity: | |||
| Unrestricted income funds | |||
| Unrestricted funds | 96,765 | 111,781 | |
| Total funds | 14 | 96,765 | 111,781 |
The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on .................... 30/04/2026 and signed on their behalf by:
......................................... Mr Anthony Clark Trustee
The notes on pages 8 to 15 form an integral part of these financial statements. Page 7
Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Arabian School of Gymnastics meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Going concern
The financial statements have been prepared on a going concern basis.
The trustees have reviewed the charity's financial position, including cash reserves, forecast cash flows, creditor obligations, and the potential impact of known liabilities and contingent risks.
During the year, the charity recorded a deficit and experienced a reduction in cash reserves. At 30 June 2025, the charity held cash balances of £52,589 (2024: £73,854), with total net assets of £96,765.
The charity has been involved in legal claims brought by two former employees. At the date of approval of these financial statements, the trustees have agreed heads of terms, in principle, to settle these matters; however, formal settlement agreements had not yet been received or completed.
If concluded, these settlements will result in additional cash outflows in the short-term, further reducing available liquidity. The trustees note that cash resources are limited relative to the charity's short-term obligations.
The trustees have prepared detailed cash flow forecasts and are monitoring the charity's cash position on an ongoing and frequent basis. The timing and outcome of the proposed settlement agreements are critical to the charity's short-term liquidity.
In the absence of these matters being concluded on the expected terms, the charity may not have sufficient resources to meet its liabilities as they fall due.
The charity's ability to continue as a going concern is therefore dependent on the successful resolution of these matters, together with the continued management of cash flow and operating costs.
In assessing the going concern basis, the trustees have had regard to their duties to creditors and have taken appropriate professional advice in assessing the charity's financial position.
These conditions indicate the existence of a material uncertainty which may cast significant doubt on the charity's ability to continue as a going concern.
The trustees consider it appropriate to prepare the financial statements on a going concern basis. However, the financial statements do not include any adjustments that would be required if the charity were unable to continue as a going concern.
Income and endowments
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable.
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Donations and legacies
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants receivable
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before received, the income is accrued.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Depreciation is provided on the following basis:
Fixtures and fittings -- straight line between 3% and 20%
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any). Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.
Stock
Stock are valued at the lower of cost and net relisable value after making due allowance for obsolete and slow-moving stocks.
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2025 Total for 2024 |
Unrestricted funds General £ 130 130 692 |
Total funds £ 130 |
|---|---|---|
| 130 | ||
| 692 |
3 Income from other trading activities
| Membership subscriptions Total for 2025 Total for 2024 4 Expenditure on raising funds |
Unrestricted funds General £ 333,924 333,924 327,994 |
Total funds £ 333,924 |
|---|---|---|
| 333,924 | ||
| 327,994 | ||
| Total costs £ |
5 Expenditure on charitable activities
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
| Note Depreciation, amortisation and other similar costs Staff costs Total for 2025 Total for 2024 6 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs |
Unrestricted funds General £ 134,732 1,431 212,947 349,110 302,919 2025 £ 195,161 12,181 2,372 3,233 212,947 |
Total funds £ 134,732 1,431 212,947 |
|---|---|---|
| 349,110 | ||
| 302,919 | ||
| Total expenditure £ 2024 £ 162,359 10,292 3,093 2,958 |
||
| 178,702 |
No employee received emoluments of more than £60,000 during the year
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| Cost At 1 July 2024 At 30 June 2025 Depreciation At 1 July 2024 Charge for the year At 30 June 2025 Net book value At 30 June 2025 At 30 June 2024 9 Stock Stocks 10 Debtors Prepayments 11 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 94,931 94,931 37,693 1,431 39,124 55,807 57,238 2025 £ 6,612 2025 £ 31,805 2025 £ 52,589 |
Furniture and equipment £ 94,931 94,931 37,693 1,431 39,124 55,807 57,238 2025 £ 6,612 2025 £ 31,805 2025 £ 52,589 |
Total £ 94,931 94,931 37,693 1,431 39,124 55,807 57,238 2024 £ 6,602 |
|
|---|---|---|---|---|
| 94,931 | ||||
| 37,693 1,431 |
||||
| 39,124 | ||||
| 55,807 | ||||
| 57,238 | ||||
| 2025 £ 6,612 2025 £ 31,805 2025 £ 52,589 |
||||
| 2024 £ 20,539 |
||||
| 2024 £ 73,854 |
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
12 Creditors: amounts falling due within one year
| Bank loans Trade creditors Other taxation and social security Other creditors Accruals 13 Creditors: amounts falling due after Bank loans 14 Funds Unrestricted funds General Unrestricted funds General |
one year Balance at 1 July 2024 £ 111,821 Balance at 1 July 2023 £ 86,014 |
Incoming resources £ 334,054 Incoming resources £ 328,686 |
2025 £ 5,358 2,333 17,967 1 - 25,659 2025 £ 24,389 Resources expended £ (349,110) Resources expended £ (302,919) |
2024 £ 5,358 976 6,000 - 500 |
|---|---|---|---|---|
| 12,834 | ||||
| 2024 £ 31,007 |
||||
| Balance at 30 June 2025 £ 96,765 |
||||
| Balance at 30 June 2024 £ 111,781 |
15 Analysis of net assets between funds
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Arabian School of Gymnastics
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
| Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ 55,807 91,006 (25,659) (24,389) 96,765 Unrestricted funds General £ 54,627 100,995 (12,834) (31,007) 111,781 |
Total funds at 30 June 2025 £ 55,807 91,006 (25,659) (24,389) |
|---|---|---|
| 96,765 | ||
| Total funds at 30 June 2024 £ 54,627 100,995 (12,834) (31,007) |
||
| 111,781 |
16 Non-adjusting events after the financial period
The charity has been involved in legal claims brought by two former employees during the year.
Subsequent to the year end, the trustees have agreed heads of terms, in principle, to settle these matters. At the date of approval of these financial statements, formal settlement agreements have not been received or completed and therefore no provision has been recognised.
If concluded, the settlements are expected to result in additional expenditure and cash outflows in the following financial period. The final cost remains subject to agreement and cannot be measured reliably at the balance sheet date.
These matters are therefore disclosed as non-adjusting post balance sheet events.
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