REGISTERED COMPANY NUMBER: 06995775 (England and Wales) REGISTERED CHARITY NUMBER: 1160988
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024
FOR
THE GOOD GYM
THE GOOD GYM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 16 |
| Detailed Statement of Financial Activities | 17 | to | 18 |
THE GOOD GYM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
The Trustees are pleased to present GoodGym's annual report and accounts for the year ended 31st August 2024.
In this period GoodGymers (GoodGym volunteers) carried out 9,264 group sessions and completed 3,162 tasks and visits for 1,059 older people. We completed 36,621 good deeds in total, showing positive improvement on last year. At the start of the year, GoodGym was active in 61 areas and remained active in those areas by 31 August 2024.
At the start of the period GoodGym had 21,691 members and 135,740 signups. This grew to 22,844 members by 31 August 2024, with over 137,583 signups. A member is someone making a commitment to regular participation and a signup is someone who signs up to the website with a minimum of their name and email.
During the year, we have been facilitating a new evaluation of our work by the London School of Economics Centre for Economic Performance. Qualitative feedback received and internal surveying, shows that we are continuing to have positive impact in line with previous evaluations.
The Trustees confirm that the Annual Report and financial statements of the company comply with the Charity's trust deed, current statutory requirements, the requirements of the company's governing document and the provisions of the Financial Reporting Standard for Smaller Entities, applicable in the UK and Republic of Ireland (FRS 102).
OBJECTIVES AND ACTIVITIES
Objectives and aims
GoodGym is a community of people who get fit by doing good. We provide social contact and practical help to older people, and practical volunteering support for community projects.The Trustees confirm that GoodGym operates for the public benefit to promote good citizenship by offering opportunities to combine physical exercise with volunteering.
GoodGym's activities:
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Group sessions: GoodGymers run, walk or cycle as a group or independently to work as a group to provide support to community organisations. We complete tasks such as clearing leaves in parks, sorting food bank donations or shifting woodchip in community gardens.
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Social visits: GoodGymers are matched with an isolated and/or lonely older person in their area, where the GoodGymer stops for a weekly social visit during their exercise.
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Missions: GoodGymers carry out one-off practical tasks such as changing smoke alarm batteries, moving furniture or clearing a garden, for isolated older people
FINANCIAL REVIEW
Financial position
Our income in the year was £596,693 and expenditure was £925,720. At the end of the year we carried over £417,815 to the next financial year, including £164,940 of restricted funding.
Reserves policy
The charity’s reserves should provide the organisation with adequate financial stability and the means for it to meet its social objectives for the foreseeable future.
During this period, we have spent restricted expenditure on delivery, as planned and agreed with funders. However, we have received less brand partnership and grant income than in previous years. The combination of these factors has meant that we have made an overall loss. With funded projects ending, we have taken action to reduce costs accordingly. We continue to monitor the adequacy of our financial resources and have finished the year well above our levels of required reserves and with a smaller cost commitment.
The CEO , business operations manager and the Trustees review the amount of reserves that are required to ensure that they are adequate to fulfil the charity’s continuing obligations every two months at Trustees meetings. Our CEO and business operations manager review the cashflow on a fortnightly basis. We aim to maintain the organisation's reserves and confirmed income at a level which is at least equivalent to six months operational expenditure. Should reserves and confirmed income drop below this amount, the Trustees are informed immediately.
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THE GOOD GYM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
FINANCIAL REVIEW
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation to believe the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they adopt the going concern basis in preparing the financial statements.
The Trustees have considered the major risks to which the charity is exposed, and have reviewed those risks and established systems and procedures to manage them.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Good Gym (operating as GoodGym) was incorporated on 20th August 2009 as a Company limited by Guarantee, number 06995775 and as of 19th March 2015 registered with the Charity Commission of England and Wales under number 1160988. The Good Gym acts according to its Memorandum and Articles of Association.
This is the ninth report made by the Trustees, covering the period from 1st September 2023 to 31st August 2024.
Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the deed.
Organisational structure and decision making
The Trustees have control of the Charity, its property and funds. They met every two months during this year. The Trustees attend GoodGym events and meetings and provide ongoing support to the CEO and other staff. All Trustees give their time freely and no Trustee received remuneration in the year. Ivo Gormley is appointed Chief Executive Officer.
Each GoodGym area has a part-time area activator working on a freelance basis, and GoodGym has an administrative team which supports the area activators and members.
During this year the GoodGym administrative team was made up of 15 PAYE staff and approximately 55 freelance part-time staff.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06995775 (England and Wales)
Registered Charity number
1160988
Registered office
15a Station Road Epping Essex CM16 4HG
Trustees
R B L Marvel (resigned 13.3.24) P J Miller (resigned 3.11.23) P Hay Ms T Greene Ms R Forbes Ms R Docherty Ms A Osunsade K C Bounds (appointed 13.3.24) Ms J R Ashcroft (appointed 3.11.23) Mx R J McAlees (appointed 13.3.24)
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THE GOOD GYM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary I A Gormley
Bankers
Natwest Bank Plc 403 Bethnal Green Road London E2 0AF
Approved by order of the board of trustees on 7th May 2025 and signed on its behalf by:
Ms J R Ashcroft - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOOD GYM
Independent examiner's report to the trustees of The Good Gym ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st 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.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 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
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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.
Natalie Floyd, ACA
The Institute of Chartered Accountants in England and Wales
14th May 2025
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THE GOOD GYM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Charitable activities 3 Charitable activities Other Total NET INCOME/(EXPENDITURE) Transfers between funds 11 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 306,273 662,277 8,993 671,270 (364,997) (366) (365,363) 618,238 252,875 |
Restricted funds £ 290,420 251,210 3,240 254,450 35,970 366 36,336 128,604 164,940 |
2024 Total funds £ 596,693 913,487 12,233 925,720 (329,027) - (329,027) 746,842 417,815 |
2023 Total funds £ 821,987 1,010,274 40,156 1,050,430 (228,443) - (228,443) 975,285 746,842 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE GOOD GYM
BALANCE SHEET 31ST AUGUST 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 346 CURRENT ASSETS Debtors 9 10,509 Cash at bank 292,350 302,859 CREDITORS Amounts falling due within one year 10 (50,330) NET CURRENT ASSETS 252,529 TOTAL ASSETS LESS CURRENT LIABILITIES 252,875 NET ASSETS 252,875 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 164,940 164,940 - 164,940 164,940 164,940 |
2024 Total funds £ 346 10,509 457,290 467,799 (50,330) 417,469 417,815 417,815 252,875 164,940 417,815 |
2023 Total funds £ 963 116,907 728,443 845,350 (99,471) 745,879 746,842 746,842 618,238 128,604 746,842 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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THE GOOD GYM
31ST AUGUST 2024
BALANCE SHEET - continued
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7th May 2025 and were signed on its behalf by:
J R Ashcroft - Trustee
The notes form part of these financial statements
Page 7
THE GOOD GYM
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash provided by/(used in) investing 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 £ (271,153) (271,153) - - (271,153) 728,443 457,290 |
2023 £ (278,043) (278,043) (1,008) (1,008) (279,051) 1,007,494 728,443 |
|---|---|---|
The notes form part of these financial statements
Page 8
THE GOOD GYM
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2024
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash used in operations |
2024 £ (329,027) 617 106,398 (49,141) (271,153) |
2023 £ (228,443) 1,020 (62,234) 11,614 (278,043) |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.9.23 £ |
Cash flow £ |
At 31.8.24 £ |
|---|---|---|---|
| Cash at bank | 728,443 | (271,153) | 457,290 |
| 728,443 | (271,153) | 457,290 | |
| Total | 728,443 | (271,153) | 457,290 |
The notes form part of these financial statements
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST 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.
Computer equipment - 33% on cost
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 charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
2. DONATIONS AND LEGACIES
| 2024 £ Grants 223,138 Corporate partners 55,745 Branch contracts 95,934 Member donations 173,741 Other donations 48,135 596,693 Grants received, included in the above, are as follows: 2024 £ Other grants 223,138 3. CHARITABLE ACTIVITIES COSTS Charitable activities 4. SUPPORT COSTS Governance Management Finance Depreciation costs £ £ £ £ Other resources expended 1,419 762 617 9,435 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2024 £ Depreciation - owned assets 617 |
2023 £ 354,975 161,294 61,499 173,327 70,892 821,987 2023 £ 354,975 Direct Costs £ 913,487 Totals £ 12,233 2023 £ 1,020 |
|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2024 nor for the year ended 31st August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2024 nor for the year ended 31st August 2023.
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
7. STAFF COSTS
| 7. | STAFF COSTS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Wages and salaries | 461,614 | 507,272 | |
| Other pension costs | 8,800 | 10,257 | |
| 470,414 | 517,529 | ||
| The average monthly number of employees during the year was as follows: | |||
| Full time staff | 2024 15 |
2023 15 |
|
| The number of employees whose employee benefits (excluding employer pension | costs) exceeded | £60,000 was: | |
| £60,001 - £70,000 | 2024 1 |
2023 - |
|
| 8. | TANGIBLE FIXED ASSETS | ||
| COST | Computer equipment £ |
||
| At 1st September 2023 and | |||
| 31st August 2024 | 11,420 | ||
| DEPRECIATION | |||
| At 1st September 2023 | 10,457 | ||
| Charge for year | 617 | ||
| At 31st August 2024 | 11,074 | ||
| NET BOOK VALUE | |||
| At 31st August 2024 | 346 | ||
| At 31st August 2023 | 963 | ||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other debtors | 2024 £ 10,509 |
2023 £ 116,907 |
|
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Social security and other taxes VAT Other creditors |
2024 £ 2,790 16,395 31,145 50,330 |
2023 £ 7,707 67,189 24,575 99,471 |
|---|---|---|
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Sport England - Core Market Norfolk CF Rayne Foundation London marathon Charitable Trust London Borough of Kingston Masonic Charitable Trust Big Lottery Climate Fund Earth Watch Lottery Community Fund - Reaching Communities Grant The Dulverton Trust Wesleyan Foundation NPower Foundation Boots Charity Trust Session Equipment Lewisham Council Frank Branston Fund Heart of Bucks Community Foundation Camden Climate Fund The Britford Bridge Trust Merton Sports Fund London Borough of Bromley TOTAL FUNDS |
At 1.9.23 £ 618,238 91,113 - 41 10,000 968 11,324 15,158 - - - - - - - - - - - - - 128,604 746,842 |
Net movement in funds £ (364,997) (91,113) 3,392 14,908 - (542) (11,412) (1,111) 36,370 28,635 9,601 14,457 7,064 225 (278) 536 6,802 3,475 8,500 3,550 2,911 35,970 (329,027) |
Transfers between funds £ (366) - - - - - 88 - - - - - - - 278 - - - - - - 366 - |
At 31.8.24 £ 252,875 - 3,392 14,949 10,000 426 - 14,047 36,370 28,635 9,601 14,457 7,064 225 - 536 6,802 3,475 8,500 3,550 2,911 164,940 417,815 |
|---|---|---|---|---|
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Sport England - Core Market Norfolk CF Rayne Foundation London Borough of Kingston Masonic Charitable Trust Big Lottery Climate Fund Earth Watch Lottery Community Fund - Reaching Communities Grant Shanley Foundation The Dulverton Trust Wesleyan Foundation NPower Foundation Boots Charity Trust Session Equipment Lewisham Council Wixamtree Tust Frank Branston Fund Heart of Bucks Community Foundation Camden Climate Fund The Britford Bridge Trust Merton Sports Fund London Borough of Bromley TOTAL FUNDS |
Incoming resources £ 306,273 - 3,917 20,000 - - 29,200 86,710 2,000 35,975 19,111 17,082 9,143 698 20,000 4,000 5,000 8,000 4,630 10,000 5,000 9,954 290,420 596,693 |
Resources Movement expended in funds £ £ (671,270) (364,997) (91,113) (91,113) (525) 3,392 (5,092) 14,908 (542) (542) (11,412) (11,412) (30,311) (1,111) (50,340) 36,370 (2,000) - (7,340) 28,635 (9,510) 9,601 (2,625) 14,457 (2,079) 7,064 (473) 225 (20,278) (278) (4,000) - (4,464) 536 (1,198) 6,802 (1,155) 3,475 (1,500) 8,500 (1,450) 3,550 (7,043) 2,911 (254,450) 35,970 (925,720) (329,027) |
|---|---|---|
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.22 £ Unrestricted funds General fund 964,049 Restricted funds Lottery Community Fund - Digital Fund 10,236 Sport England - Core Market - Rayne Foundation - London marathon Charitable Trust - London Borough of Kingston 1,000 Masonic Charitable Trust - Big Lottery Climate Fund Earth Watch - 11,236 TOTAL FUNDS 975,285 Comparative net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Lottery Community Fund - Digital Fund Sport England - Core Market Rayne Foundation London marathon Charitable Trust London Borough of Kingston Masonic Charitable Trust Big Green Micro Grant Big Lottery Climate Fund Earth Watch TOTAL FUNDS |
Net movement in funds £ (331,268) (24,779) 91,113 41 10,000 (32) 11,324 15,158 102,825 (228,443) follows: Incoming resources £ 647,952 - 91,113 30,000 10,000 - 20,000 250 22,672 174,035 821,987 |
Transfers between funds £ (14,543) 14,543 - - - - - - 14,543 - Resources expended £ (979,220) (24,779) - (29,959) - (32) (8,676) (250) (7,514) (71,210) (1,050,430) |
At 31.8.23 £ 618,238 - 91,113 41 10,000 968 11,324 15,158 128,604 746,842 Movement in funds £ (331,268) (24,779) 91,113 41 10,000 (32) 11,324 - 15,158 102,825 (228,443) |
|---|---|---|---|
continued...
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THE GOOD GYM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2024.
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THE GOOD GYM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024
| INCOME AND ENDOWMENTS Donations and legacies Grants Corporate partners Branch contracts Member donations Other donations Total incoming resources EXPENDITURE Charitable activities Salaries and national insurance Pensions Freelance assistance Insurance Events and marketing Website and computer consumables Volunteer recruitment, events and marketing Staff training Recruitment Sundry expenses Support costs Management Rent and rates Telephone Postage and stationery Travelling expenses Finance Bank charges Depreciation Depreciation of tangible fixed assets Governance costs Accountancy Legal and professional fees |
2024 £ 223,138 55,745 95,934 173,741 48,135 596,693 596,693 461,614 8,800 349,571 2,535 20,074 25,001 37,089 640 5,983 2,180 913,487 - 253 155 1,011 1,419 762 617 6,195 3,240 9,435 |
2023 £ 354,975 161,294 61,499 173,327 70,892 821,987 821,987 507,272 10,257 370,201 2,485 16,513 28,952 57,747 4,419 4,695 7,733 1,010,274 187 136 327 2,626 3,276 765 1,020 5,900 29,195 35,095 |
|---|---|---|
This page does not form part of the statutory financial statements
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THE GOOD GYM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024
| Total resources expended Net expenditure |
2024 £ 925,720 (329,027) |
2023 £ 1,050,430 (228,443) |
|---|---|---|
This page does not form part of the statutory financial statements
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