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2025-07-31-accounts

REGISTERED COMPANY NUMBER: 09058478 (England and Wales) REGISTERED CHARITY NUMBER: 1163580

Report of the Trustees and

Financial Statements for the Year Ended 31st July 2025

for

Pegasus Gymnastics Club Limited

Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE

Pegasus Gymnastics Club Limited

Contents of the Financial Statements for the year ended 31st July 2025

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Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 22
Detailed Statement of Financial Activities 23 to 24
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Pegasus Gymnastics Club Limited Report of the Trustees for the year ended 31st July 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Objects of the Charity are that of the promotion of community participation in healthy recreation for the benefit of inhabitants of Maidstone, Kent and neighbouring boroughs by the provision of facilities for participation in gymnastics.

Significant activities

The provision of year round structured programmes of gymnastics in an elite bespoke indoor gymnastics centre for people aged between nine months old to sixteen years old, people with disabilities, adults and community use.

Public benefit

At our trustee meetings, when planning and reviewing our aims and objectives, and when planning our future activities we have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Achievements in the reporting year were many and varied at a local, county, regional, national and international level. The highlights were as follows:

Three men were members of the GB Men’s Artistic Squad.

Gymnastics throughout the year, reflected both individual excellence and collective achievement on national and international stages.

July 2025 - One gymnast took part in the World University Games in Germany qualifying for the All Around and Floor Finals

June 2025 - three gymnasts selected for the England Squad.

April 2025 - At the Doha World Cup, James Hall was officially accredited with a newly recognised skill on Parallel Bars, now named the " Hall ", marking a significant technical contribution to the sport.

Additionally, one gymnast earned a bronze medal on floor at the Doha World Cup , further underscoring the Club’s international competitiveness.

March 2025 - One gymnast was crowned British Pommel Champion 2025 in the combined U16/U18 category , also securing third place overall and third on Parallel Bars at the British Championships.

Oct 2024 - Director of Coaching Celebrated at the Royal Palace reception.

Sept 2024 - One gymnast competed in the Northern European Championships for Team England.

Internal and external factors

The trustees recognise that fees and membership can be prohibitive to those on low incomes. The Club will keep subscriptions at levels that will not pose a significant obstacle to participation. In case of need, there is a bursary scheme available.

Page 1

Pegasus Gymnastics Club Limited

Report of the Trustees for the year ended 31st July 2025

FINANCIAL REVIEW

Financial position

The Club's income has decreased with a fall of 4.0% in the reporting period.

The Club managed to control its rising costs to achieve a surplus in the reporting period of £21,402 (2024: £94,165), leading to cash reserves of £559,939 (2024: £505,683). The Club invested £15,603 on new equipment and was able to retain its experienced coaches. This continued improvement of the facilities and build up of cash reserves will allow the Club to continue for the foreseeable future.

Reserves policy

We strive to hold reserves in the order of the equivalent of a minimum of three months' running costs. The Club's running costs are around £78,000 per month, of which approximately £53,000 are salary costs including pensions and National Insurance and £17,000 are property costs including rent. In addition, the Club puts aside further reserves for future equipment replacement and maintenance.

FUTURE PLANS

Increasing Numbers of Gymnasts Across the Disciplines

Pegasus Gymnastics Club has experienced notable success and organic growth across all disciplines. To build on this momentum, a structured and strategic approach is essential to ensure sustainable expansion and increased participation.

Key Strategic Actions:

  1. Formalize the Pathway from Pre-School to Development Groups

  2. Maintain Maximum Capacity and Refine the Recruitment Funnel

  3. Leverage High-Profile Successes to Attract New Members

  4. Build on Badge Weeks and Recreational Competitions

Consolidating the Hours for the Squad Coaches

As Pegasus continues to grow and compete at national and international levels, the demands on our coaching team have increased significantly. With international travel (e.g., Ionut to Romania and Doha), national competitions, and the management of expanding squads, it is essential to optimise coaching resources to ensure sustainability and support athlete development.

Key Strategic Priorities:

  1. Formalise Coaching Roles for Former and Senior Athletes

  2. Ensure a Stable and Supported Coaching Structure

  3. Optimise Time Spent in the Gym, Especially for Younger Squads

Increasing the Number of Events in 2026 and International Camps

Pegasus Gymnastics Club has successfully competed at the highest levels, both nationally and internationally. Building on this success, there is a clear opportunity to broaden the scope of competitive and developmental events to further elevate the Club’s profile and provide enriched experiences for athletes across all disciplines.

Key Strategic Objectives:

  1. Maintain and Expand the High-Level Domestic Competition Schedule

  2. Establish Annual International Training and Competitive Camps

  3. Increase Exposure for Developing Athletes

  4. Expand Local and Regional Opportunities for Floor & Vault Gymnasts

Page 2

Pegasus Gymnastics Club Limited

Report of the Trustees for the year ended 31st July 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company is incorporated as a company limited by guarantee as defined by the Companies Act 2006. It is constituted under a Memorandum of Association and is controlled by its governing document the Articles of Association adopted by special resolution on the 26th August 2015 and amended by special resolution on 9th September 2015 when it achieved Charitable Status. It is a registered charity, number 1163580.

Recruitment and appointment of new trustees

The management of the Club is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Trustees are elected based on their knowledge, experience and skills in areas which are beneficial for the Club. The Club is not subject to a maximum of trustees, but the minimum number of trustees required is three. The numbers of trustees required for a Quorum is two.

Decision making

The Club works in accordance with its governing body's (British Gymnastics) policies and codes of conduct.

Risk management

The trustees have a duty to identify and review the risks to which the Club is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 09058478 (England and Wales)

Registered Charity number

1163580

Registered office

Unit 2-4 Farleigh Hill Tovil Maidstone Kent ME15 6RG

Trustees

C Griffiths A R Hall A D Cox L M Potter T H Banks (resigned 31.3.2025) T J Gedge (resigned 13.11.2024)

Company Secretary

A D Cox

Independent Examiner

Natalie Harrison FCA FCCA CTA TEP Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE

Page 3

Pegasus Gymnastics Club Limited

Report of the Trustees for the year ended 31st July 2025

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ A D Cox - Trustee

Page 4

Independent Examiner's Report to the Trustees of Pegasus Gymnastics Club Limited

Independent examiner's report to the trustees of Pegasus Gymnastics Club Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2025.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Natalie Harrison FCA FCCA CTA TEP

Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE

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

Page 5

Pegasus Gymnastics Club Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st July 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
4,132
Charitable activities
5
Memberships
43,225
General classes
701,433
Merchandise sales
13,668
Gymnastics squad fees and event income
160,954
Investment income
4
5,539
Total
928,951
EXPENDITURE ON
Raising funds
Raising donations and legacies
6
5,204
5,204
Charitable activities
7
Charitable activities
870,293
Other
35,652
Total
911,149
NET INCOME
17,802
RECONCILIATION OF FUNDS
Total funds brought forward
609,968
TOTAL FUNDS CARRIED FORWARD
627,770		 Restricted
funds
£
7,000
-
-
-
-
-
7,000
-
-
2,500
900
3,400
3,600
10,925
14,525		 2025
Total
funds
£
11,132
43,225
701,433
13,668
160,954
5,539
935,951
5,204
5,204
872,793
36,552
914,549
21,402
620,893
642,295		 2024
Total
funds
£
10,058
59,346
698,803
15,603
186,980
4,562
975,352
4,801
4,801
841,682
34,704
881,187
94,165
526,728
620,893

The notes form part of these financial statements

Page 6

Pegasus Gymnastics Club Limited

Balance Sheet 31st July 2025

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
128,815
CURRENT ASSETS
Stocks
14
200
Debtors
15
80,299
Cash at bank and in hand
548,189
628,688
CREDITORS
Amounts falling due within one year
16
(129,733)
NET CURRENT ASSETS
498,955
TOTAL ASSETS LESS CURRENT
LIABILITIES
627,770
NET ASSETS
627,770
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,775
-
-
11,750
11,750
-
11,750
14,525
14,525		 2025
Total
funds
£
131,590
200
80,299
559,939
640,438
(129,733)
510,705
642,295
642,295
627,770
14,525
642,295		 2024
Total
funds
£
152,539
200
82,444
505,683
588,327
(119,973)
468,354
620,893
620,893
609,968
10,925
620,893

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

Pegasus Gymnastics Club Limited

Balance Sheet - continued 31st July 2025

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 ............................................. and were signed on its behalf by:

............................................. A D Cox - Trustee

............................................. C Griffiths - Trustee

The notes form part of these financial statements

Page 8

Pegasus Gymnastics Club Limited

Cash Flow Statement

for the year ended 31st July 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash 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		 2025
£
64,320
64,320
(15,603)
5,539
(10,064)
54,256
505,683
559,939		 2024
£
123,268
123,268
(63,730)
4,562
(59,168)
64,100
441,583
505,683

The notes form part of these financial statements

Page 9

Pegasus Gymnastics Club Limited

Notes to the Cash Flow Statement for the year ended 31st July 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2025
£
21,402
36,552
(5,539)
2,145
9,760
64,320		 2024
£
94,165
34,704
(4,562)
12,425
(13,464)
123,268

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24
£
Net cash
Cash at bank and in hand
505,683		 Cash flow
£
54,256		 At 31.7.25
£
559,939
505,683 54,256 559,939
Total
505,683		 54,256 559,939

The notes form part of these financial statements

Page 10

Pegasus Gymnastics Club Limited

Notes to the Financial Statements for the year ended 31st July 2025

1. STATUTORY INFORMATION

Pegasus Gymnastics Club Limited is a company limited by guarantee and has no share capital. The limit of each member in the event of winding up is limited to £1.

The company is registered in England and Wales, Registered Number 09058478 and it's registered office is Unit 2 - 4 Farleigh Hill, Tovil, Maidstone, Kent, ME15 6RG

2. 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.

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In preparing the financial statements the trustees have made the following judgements:

The trustees have allocated support costs between raising donations and legacies and charitable activities, based on an estimate of the proportion of time spent by staff on these activities. This continues to be considered the most appropriate apportionment method by the trustees.

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.

Where income is received in advance for a service covering a period of time, only the proportion covering the reporting period is recognised as income with the remainder disclosed as a deferred income liability in the Balance Sheet.

The charity's activities are largely covered by the exemptions available for sporting and physical education services so no VAT is charged.

continued...

Page 11

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued

for the year ended 31st July 2025

2. ACCOUNTING POLICIES - continued

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.

Charitable activities

This comprises all the resources expended by the charity in undertaking its work to meet its charitable objectives. It includes both the direct costs of charitable activities together with the support costs incurred that enable these activities to be undertaken.

Allocation and apportionment of costs

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Support costs which are attributable to more than one activity are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost less accumulated depreciation. The cost of tangible fixed assets includes directly attributable costs incurred in their acquisition and installation.

Depreciation

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

Improvements to property - over the period of life of the lease Gymnastics equipment - 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Only expenditure satisfying the restrictions imposed by the donor are allocated to restricted funds.

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...

Page 12

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

2. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that comply with all of the conditions of paragraph 11.9 of FRS 102 are classified as 'basic'. For debt instruments that do not meet the conditions of FRS 102.11.9, the charity considers whether the debt instrument is consistent with the principle in paragraph 11.9A of FRS 102 in order to determine whether it can be classified as basic. Instruments classified as 'basic' financial instruments are measured subsequently at amortised cost using the effective interest method. Debt instruments that have no stated interest rate (and do not constitute financing transaction) and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Restricted funds

Howdens Joinery - Artistic Development Grant

£500 was contributed during the year ended 31 July 2021 to help artistic development at the charity. This money was spent on the purchase of equipment in the year ended 31 July 2024.

William Brake Charitable Trust - Men's Artistic Development Grant

£2,000 was contributed during the year ended 31 July 2021, a further £2,000 was contributed during the year ended 31 July 2022. The funds are to be used for men's artistic development. This money was spent on the purchase of equipment in the year ended 31 July 2024.

British Gymnastics - Coach and Club Support Grant

£7,250 was contributed during the year ended 31 July 2024 and another £4,500 was added in the year ended 31 July 2025. This money will be used to provide financial assistance to the primary coaches and clubs of gymnasts that are selected to the WCP (World Class Programme).

continued...

Page 13

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued

for the year ended 31st July 2025

2. ACCOUNTING POLICIES - continued

Restricted funds

Kent Gymnastics - Bursary and Development Grant

£2,500 was contributed during the year ended 31 July 2025. This money provides funding for the development of coaches, officials and volunteers in Kent. The money was spent on courses in the year ended 31 July 2025.

3. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
British Gymnastics Coach and Club Support Grant
The Kent Gymnastics Bursary and Development Grant
4.
INVESTMENT INCOME
Interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Membership fees
Memberships
Class fees
General classes
Kit sales
Merchandise sales
Squad fees and event income Gymnastics squad fees and event income		 2025
£
4,132
7,000
11,132
2025
£
4,500
2,500
7,000
2025
£
5,539
2025
£
43,225
701,433
13,668
160,954
919,280		 2024
£
2,808
7,250
10,058
2024
£
7,250
-
7,250
2024
£
4,562
2024
£
59,346
698,803
15,603
186,980
960,732

continued...

Page 14

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

6. RAISING DONATIONS AND LEGACIES

Support costs
7.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Charitable activities
773,900
8.
SUPPORT COSTS
Management
£
Raising donations and legacies
5,089
Charitable activities
96,705
101,794
Support costs, included in the above, are as follows:
Raising
donations
and
Charitable
legacies
activities
£
£
Wages
2,261
42,968
Social security
139
2,654
Pensions
43
826
Consultancy fees
1,417
26,923
Telephone
83
1,579
Office costs
274
5,208
Book keeping expenses
520
9,875
Sundries
2
32
Independent examiners fees
350
6,640
Bank charges
115
2,188
5,204
98,893		 2025
£
5,204
Support
costs (see
note 8)
£
98,893
Finance
£
115
2,188
2,303
2025
Total
activities
£
45,229
2,793
869
28,340
1,662
5,482
10,395
34
6,990
2,303
104,097		 2024
£
4,801
Totals
£
872,793
Totals
£
5,204
98,893
104,097
2024
Total
activities
£
42,725
852
370
29,544
1,539
3,722
5,973
117
6,420
4,816
96,078

continued...

Page 15

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

9. NET INCOME/(EXPENDITURE)

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

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Depreciation - owned assets|36,552|34,704| |Independent examiner's fees for the audit of the financial statements|3,600|3,200| |Independent examiner's fees for non-audit services|3,390|3,220| |Operating lease payments|195,120|182,160|

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

10. TRUSTEES' REMUNERATION AND BENEFITS

Ms C Griffiths, a director and trustee of the charity, was paid £11,802 during the reporting period for IT support and marking services (2024: £11,457).

Ms L Potter, a director and trustee of the charity, was paid £33,075 during the reporting period (2024: £30,357) for coaching development, human resource management, office administration and fund raising.

Neither trustee was paid for being a trustee of the charity or for the associated duties of a trustee.

The terms of the above arrangements were agreed by the trustees not benefitting from them.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2025 nor for the year ended 31st July 2024.

11. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Wages and salaries|502,543|475,282| |Social security costs|31,032|29,715| |Other pension costs|9,642|10,027| |543,217|515,024|

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

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

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |Administrative employees|5|5| |Coaches|30|25| |35|30|

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

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£60,001 - £70,000|-|1| |£70,001 - £80,000|1|-| |1|1|

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

continued...

Page 16

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

----- Start of picture text -----
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,808 7,250 10,058
Charitable activities
-
Memberships 59,346 59,346
General classes 698,803 - 698,803
Merchandise sales 15,603 - 15,603
-
Gymnastics squad fees and event income 186,980 186,980
Investment income 4,562 - 4,562
Total 968,102 7,250 975,352
EXPENDITURE ON
Raising funds
-
Raising donations and legacies 4,801 4,801
-
4,801 4,801
Charitable activities
Charitable activities 841,682 - 841,682
Other 33,879 825 34,704
Total 880,362 825 881,187
NET INCOME 87,740 6,425 94,165
RECONCILIATION OF FUNDS
Total funds brought forward 522,228 4,500 526,728
TOTAL FUNDS CARRIED FORWARD 609,968 10,925 620,893
----- End of picture text -----

continued...

Page 17

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

13. TANGIBLE FIXED ASSETS

Improvements
to
Gymnastics
property
equipment
£
£
COST
At 1st August 2024
88,274
241,644
Additions
-
15,603
At 31st July 2025
88,274
257,247
DEPRECIATION
At 1st August 2024
45,597
131,782
Charge for year
4,974
31,578
At 31st July 2025
50,571
163,360
NET BOOK VALUE
At 31st July 2025
37,703
93,887
At 31st July 2024
42,677
109,862
14.
STOCKS
2025
£
Stocks
200
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
63,625
Other debtors
16,674
80,299		 Totals
£
329,918
15,603
345,521
177,379
36,552
213,931
131,590
152,539
2024
£
200
2024
£
65,721
16,723
82,444

continued...

Page 18

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses		 2025
£
6,616
12,996
10,943
92,094
7,084
129,733		 2024
£
2,340
6,703
10,250
94,080
6,600
119,973

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Artistic Development Grant
Men's Artistic Development Grant
The British Gymnastics Coach and Club
Support Grant
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Artistic Development Grant
Men's Artistic Development Grant
The British Gymnastics Coach and Club
Support Grant
The Kent Gymnastics Bursary and
Development Fund
TOTAL FUNDS		 At 1.8.24
£
609,968
408
3,267
7,250
10,925
620,893
Incoming
resources
£
928,951
-
-
4,500
2,500
7,000
935,951		 Net
movement
At
in funds
31.7.25
£
£
17,802
627,770
(100)
308
(800)
2,467
4,500
11,750
3,600
14,525
21,402
642,295
Resources
Movemen
expended
in funds
£
£
(911,149)
17,802
(100)
(100)
(800)
(800)
-
4,500
(2,500)
-
(3,400)
3,600
(914,549)
21,402

continued...

Page 19

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.8.23
£
Unrestricted funds
General fund
522,228
Restricted funds
Artistic Development Grant
500
Men's Artistic Development Grant
4,000
The British Gymnastics Coach and Club
Support Grant
-
4,500
TOTAL FUNDS
526,728
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
968,102
Restricted funds
Artistic Development Grant
-
Men's Artistic Development Grant
-
The British Gymnastics Coach and Club
Support Grant
7,250
7,250
TOTAL FUNDS
975,352		 Net
movement
At
in funds
31.7.24
£
£
87,740
609,968
(92)
408
(733)
3,267
7,250
7,250
6,425
10,925
94,165
620,893
Resources
Movement
expended
in funds
£
£
(880,362)
87,740
(92)
(92)
(733)
(733)
-
7,250
(825)
6,425
(881,187)
94,165

continued...

Page 20

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Artistic Development Grant
Men's Artistic Development Grant
The British Gymnastics Coach and Club
Support Grant
TOTAL FUNDS		 At 1.8.23
£
522,228
500
4,000
-
4,500
526,728		 Net
movement
in funds
£
105,542
(192)
(1,533)
11,750
10,025
115,567		 At
31.7.25
£
627,770
308
2,467
11,750
14,525
642,295

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Artistic Development Grant
Men's Artistic Development Grant
The British Gymnastics Coach and Club
Support Grant
The Kent Gymnastics Bursary and
Development Fund		 Incoming
resources
£
1,897,053
-
-
11,750
2,500		 Resources
expended
£
(1,791,511)
(192)
(1,533)
-
(2,500)		 Movement
in funds
£
105,542
(192)
(1,533)
11,750
-
14,250 (4,225) 10,025
TOTAL FUNDS 1,911,303 (1,795,736) 115,567

continued...

Page 21

Pegasus Gymnastics Club Limited

Notes to the Financial Statements - continued for the year ended 31st July 2025

18. RELATED PARTY DISCLOSURES

Pegasus Sports Centre Limited charged the charity £195,120 during the reporting period (2024: £182,160) for the use of the premises from which it operates.

At the Balance Sheet date, £4,467 was payable to Pegasus Sports Centre Limited (2024: £4,467).

All of the charity's trustees are also directors of Pegasus Sports Centre Limited.

19. PROVISION AVAILABLE FOR SMALLER ENTITIES

The charity uses its independent examiners to assist with the preparation of the Financial Statements and to file payroll submissions.

Page 22

Pegasus Gymnastics Club Limited

Detailed Statement of Financial Activities

for the year ended 31st July 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Investment income
Interest receivable
Charitable activities
Membership fees
Class fees
Squad fees and event income
Kit sales
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rent and rates
Insurance
Kit purchases and awards
Consultancy fees
Repairs and maintenance
Travel and subsistence
Staff training
Subscriptions
Other
Improvements to property depreciation
Gymnastics equipment depreciation
Support costs
Management
Wages
Carried forward		 2025
£
4,132
7,000
11,132
5,539
43,225
701,433
160,954
13,668
919,280
935,951
457,314
28,239
8,773
195,120
10,980
13,961
32,804
7,579
6,995
7,899
4,236
773,900
4,974
31,578
36,552
45,229
45,229		 2024
£
2,808
7,250
10,058
4,562
59,346
698,803
186,980
15,603
960,732
975,352
432,557
28,863
9,657
182,160
11,364
24,194
29,495
16,170
6,077
7,024
2,844
750,405
4,974
29,730
34,704
42,725
42,725

This page does not form part of the statutory financial statements

Page 23

Pegasus Gymnastics Club Limited

Detailed Statement of Financial Activities

for the year ended 31st July 2025

Management
Brought forward
Social security
Pensions
Consultancy fees
Telephone
Office costs
Book keeping expenses
Sundries
Independent examiners fees
Finance
Bank charges
Total resources expended
Net income		 2025
£
45,229
2,793
869
28,340
1,662
5,482
10,395
34
6,990
101,794
2,303
914,549
21,402		 2024
£
42,725
852
370
29,544
1,539
3,722
5,973
117
6,420
91,262
4,816
881,187
94,165

This page does not form part of the statutory financial statements

Page 24