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← Asg Community Gymnastics Club

2025-04-05-accounts

Charity Registration No. 1168783

ASG COMMUNITY GYMNASTICS CLUB

CHARITABLE INCORPORATED ORGANISATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Parry
S McGranaghan
S Cox
Charity registration England and Wales 1168783
Principal address Arch 11 Byron Close
Thamesmead
SE28 8AA
Independent examiner Affinia (Orpington)
Lynwood House
Crofton Road
Orpington
KENT
BR6 8QE

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The charity's objective is the promotion of community participation in healthy recreation in particular by the provision of facilities for the participation of gymnastics.

The main activities undertaken for the public benefit have been providing recreational gymnastics classes to the local community, and providing fun days and gymnastics events for children of all ages.

The policies adopted in furtherance of these objects are as per the governing document.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity now has over 450 members participating in weekly classes including pre-school aged children, teenagers, adults and children with both physical and learning disabilities. We also run gymnastics themed birthday parties, which have been very popular with both existing members and new clients.

Achievements and performance

Financial review

During the period, income including grants totalled £249,554 (2024: £300,575) with total expenses being £271,374 (2024: £278,625), this has resulted in a deficit for the period of £21,820 (2024: £21,950 surplus).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a Charitable Incorporated Organisation (CIO) and was established by a charitable trust deed on 15 August 2016.

The trustees who served during the year and up to the date of signature of the financial statements were: J Parry S McGranaghan S Cox

Trustees are selected for their skills, knowledge and experience that the charity requires. They are appointed initially for a term of 3 years by a resolution passed at a meeting of the charity trustees.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

The trustees' report was approved by the Board of Trustees.

J Parry Trustee

4 February 2026

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ASG COMMUNITY GYMNASTICS CLUB

We report to the trustees on our examination of the financial statements of ASG Community Gymnastics Club (the charity) for the year ended 5 April 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

We report in respect of our examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the 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 to in the extant regulations but has now been withdrawn.

We understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:

We 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 financial statements to be reached.

Affinia (Orpington)

Lynwood House Crofton Road Orpington KENT BR6 8QE 4 February 2026

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
11,015
-
Charitable activities
4
238,539
-
Total income
249,554
-
Expenditure on:
Charitable activities
5
269,570
1,804
Total expenditure
269,570
1,804
Net income/(expenditure) and
movement in funds
(20,016)
(1,804)
Reconciliation of funds:
Fund balances at 6 April 2024
119,441
12,025
Fund balances at 5 April 2025
99,425
10,221		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
11,015
23,398
-
238,539
277,177
-
249,554
300,575
-
271,374
276,503
2,122
271,374
276,503
2,122
(21,820)
24,072
(2,122)
131,466
95,369
14,147
109,646
119,441
12,025		 Total
2024
£
23,398
277,177
300,575
278,625
278,625
21,950
109,516
131,466

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
14
Unrestricted funds
15		 2025
£
10,292
69,003
79,295
(1,800)		 £
32,151
77,495
109,646
10,221
99,425
109,646		 2024
£
-
97,911
97,911
(1,800)		 £
35,355
96,111
131,466
12,025
119,441
131,466

The financial statements were approved by the trustees on 4 February 2026

J Parry Trustee

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

ASG Community Gymnastics Club is a Charitable Incorporated Organisation (CIO) and is governed by its trust deed dated 15 August 2016.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are for the installation of a trampoline and high bar area at the gym.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grant income is restricted and can only be used for the specific purpose detailed in the grant documents.

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

1.5 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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support and governance costs are allocated to the applicable expenditure headings.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 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 asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 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 borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 11,015 23,398
11,015 23,398

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

4 Charitable activities

Charitable Charitable
Charitable
Income Income
2025 2024
£ £
Membership fees - 299
Merchandise income 1,462 2,149
Hire of hall 11,162 9,011
Gymnastic lessons 225,915 265,718
238,539 277,177
All charitable income noted above is unrestricted.
5 Expenditure on charitable activities
Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Direct costs
Depreciation and impairment 5,674 6,239
Share of support and governance costs (see note 6)
Support 263,900 270,586
Governance 1,800 1,800
271,374 278,625
Analysis by fund
Unrestricted funds 269,570 276,503
Restricted funds 1,804 2,122
271,374 278,625

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

6
Support costs
Staff costs
Coaches, training
and membership
fees
Gym supplies
Website and
internet fees
Printing, postage
and stationery
Repairs,
maintenance and
cleaning
Accountancy
Advertising
Motor expenses
Sundry expenses
Property costs
Telephone
Legal and
professional fees		 Support
costs
Governance
costs
£
£
183,075
-
3,977
-
13,369
-
2,322
-
1,576
-
5,699
-
-
1,800
3,911
-
11,838
-
8,215
-
28,897
-
501
-
520
-
263,900
1,800		 2025
Support costs
Governance
costs
£
£
£
183,075
173,496
-
3,977
3,486
-
13,369
11,707
-
2,322
3,935
-
1,576
1,656
-
5,699
5,448
-
1,800
-
1,800
3,911
2,242
-
11,838
27,474
-
8,215
7,696
-
28,897
32,295
-
501
599
-
520
552
-
265,700
270,586
1,800		 2024
£
173,496
3,486
11,707
3,935
1,656
5,448
1,800
2,242
27,474
7,696
32,295
599
552
272,386

Governance costs includes a payment of £1,800 (2024: £1,800) for independent examination fees.

7

Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 5,674 6,239

8 Trustees

S McGranaghan received remuneration of £26,500 (2024: £21,750) from the charity in relation to gymnastics coaching services provided during the year.

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
16 18

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

9 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 183,075 173,496

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Cost
At 6 April 2024
Additions
At 5 April 2025
Depreciation and impairment
At 6 April 2024
Depreciation charged in the year
At 5 April 2025
Carrying amount
At 5 April 2025
At 5 April 2024
12
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 Fixtures and
fittings
£
78,596
2,470
81,066
43,241
5,674
48,915
32,151
35,355
2025
2024
£
£
1,268
-
9,024
-
10,292
-		 Fixtures and
fittings
£
78,596
2,470
81,066
43,241
5,674
48,915
32,151
35,355
2025
2024
£
£
1,268
-
9,024
-
10,292
-
81,066
43,241
5,674
48,915
32,151
35,355
2024
£
-
-
-

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals and deferred income
All liabilities relate to unrestricted funds.		 2025
£
1,800		 2024
£
1,800

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

14 Restricted funds

The income funds of the charity include restricted funds and unrestricted funds comprising the following unexpended balances of donations, grants and fixed assets held on trust for specific purposes:

Balance at
6 April 2023
r
£
Restricted Funds - Fixed Assets
14,147
Unrestricted Funds - Spendable
75,095
Unrestricted Funds - Fixed Assets
20,274
109,516		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(2,122)
300,575
(272,386)
-
(4,117)
300,575
(278,625)		 Transfers
Balance at
6 April 2024
r
£
£
-
12,025
(7,173)
96,111
7,173
23,330
-
131,466		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(1,804)
249,554
(265,700)
-
(3,870)
249,554
(271,374)		 Transfers
Balance at
5 April 2025
£
£
-
10,221
(2,470)
77,495
2,470
21,930
-
109,646		 Transfers
Balance at
5 April 2025
£
£
-
10,221
(2,470)
77,495
2,470
21,930
-
109,646
109,646

Funds noted above represent both amounts available for spending and amounts invested in fixed assets by the charity.

Spendable funds relate to amounts available for spending by the charity to further its charitable objectives. Fixed asset funds represent the net book value of tangible assets purchased.

ASG COMMUNITY GYMNASTICS CLUB CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 6 April Incoming Resources At 5 April
2024 resources expended 2025
£ £ £ £
119,441 249,554 (269,570) 99,425
Previous year: At 6 April Incoming Resources At 5 April
2023 resources expended 2024
£ £ £ £
General funds 95,369 300,575 (276,503) 119,441
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 5 April 2025:
Tangible assets 21,930 10,221 32,151
Current assets/(liabilities) 77,495 - 77,495
99,425 10,221 109,646
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 5 April 2024:
Tangible assets 23,330 12,025 35,355
Current assets/(liabilities) 96,111 - 96,111
119,441 12,025 131,466

16 Analysis of net assets between funds

Restricted funds are for the purchase and installation of trampoline and high bar area at the gym.