2023-12-31-accounts - Gym Possible

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Charity Registration Number: 1170662

Gym Possible (Previously Pop Up Gym CIO) Financial Statements For the Year Ending 31 December 2023

JANE ASCROFT ACCOUNTANCY LIMITED

Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

Gym Possible (Previously Pop Up Gym CIO)

Financial Statements

Year Ended 31 December 2023

	Page
Trustees' Annual Report	1
Independent Examiner's Report to the Trustees	4
Statement of Financial Activities	5
Statement of Financial Position	6
Notes to the Financial Statements	7
The Following Pages Do Not Form Part of the Financial Statements
Detailed Statement of Financial Activities	16

Gym Possible (Previously Pop Up Gym CIO)

Trustees' Annual Report

Year Ended 31 December 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

Objectives and Activities

The objectives of the CIO are to relieve sickness and to preserve health among people with spinal cord injuries in the North East of England by providing or assisting in the prevision of rehabilitation and fitness maintenance services.

The charity continues to offer specialist public gym facilities for the benefit of people with spinal cord injuries in the North East of England.

Public Benefit

The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Achievements and Performance

In 2023, our charity operated on a scaled-down basis as we continued to recover from the lingering effects of the global pandemic. We maintained a small, adapted gym in Longbenton; however, due to budget constraints, we were unable to staff the facility. While members could access the gym, they needed to book personal training sessions for assistance with their workouts.

Throughout the year, we averaged 15 members per month, which is about a quarter of our pre-pandemic membership. We believe this decline is largely due to the gym's location and the lack of staff support.

We have engaged in discussions with Gateshead Leisure Centre, which is set to reopen in 2024, and we are excited to announce our agreement to move to Studio 3, a spacious 100m² area. This enhanced gym space, coupled with a more central location, should help us attract more members. Additionally, we are actively seeking funding for a fitness instructor to be present several days a week, which we anticipate will further boost our membership numbers back to pre-pandemic levels.

In parallel to our physical gym, we have continued to offer online fitness sessions through our Facebook and YouTube channels. These programs have been exceptionally well-received, with several hundred participants joining us each month.

Drew Graham Gym Possible CEO

Financial Review

The charity continues to be financially stable. At the end of 2023 Gym Possible had net assets of £36,761 which included equipment valued at £30,000.

Reserves Policy

The charity aims to hold three months running costs £6,000 in reserve at any given time.

Gym Possible (Previously Pop Up Gym CIO)

Trustees' Annual Report (continued)

Year Ended 31 December 2023

Plans for Future Periods

In 2024 we intend to continue our mission of making exercise accessible to individuals with physical disabilities.

2024 Projected Income

The Boost Charitable Foundation has committed to funding us again in 2024 for a total of £5000.
We will be receiving £5000 from the James Knott trust in Oct 2024 to help us pay for a Personal Trainer, we hope to be able to add to this money to get a trainer full-time.
The Matt Hampson Foundation have committed to supporting us again in 2024 by paying our rent
which will cost £5400 and by funding a Physio to work with our members one day per week.
We project that in 2024 we will make a total of ~ £6000 through membership fees.

Structure, Governance and Management

Gym Possible is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 9th December 2016 with charity number 1170662. The constitution is a CIO Foundation constitution dated 9th December 2016 and as amended on 02 Oct 2024.

The charity changed its name from Pop Up Gym CIO to Gym Possible on 2nd October 2024.

Trustees are appointed by the founder.

Trustee Changes

In 2023, Carol Graham and Phil Tennant stepped down as trustees of our organization. We are pleased to welcome Clare Potts, Michael Potts, Matthew Nicholson, and Jonathan Graham to the board. Each brings a wealth of skills and enthusiasm that will significantly contribute to our continued progress and success.

Gym Possible (Previously Pop Up Gym CIO)

Trustees' Annual Report (continued)

Year Ended 31 December 2023

Reference and Administrative	Details
Registered charity name	Gym Possible (previously Pop Up Gym CIO)
Charity registration number	1170662
Principal office	39 Kingsley Avenue
	Newcastle
	NE3 5QN
The Trustees
	Gary Graham
	Lucy Hickey
	Philip Ternent
	Nicholas Brown
	Ian Potts
	Clare Potts
	Jonathan Graham
	Peter Nicholson
	Ryan McLeod
Independent Examiner	Jane Ascroft FCA MA (Cantab)
	Enterprise House
	Harmire Enterprise Park
	Barnard Castle
	County Durham
	DL12 8XP

The trustees' annual report was approved on .............................. and signed on behalf of the board of 23/10/2024 trustees by:

Gary Graham Trustee

Gym Possible (Previously Pop Up Gym CIO)

Independent Examiner's Report to the Trustees of Gym Possible (previously Pop Up Gym CIO)

Year Ended 31 December 2023

I report to the trustees on my examination of the financial statements of Gym Possible (previously Pop Up Gym CIO) ('the charity') for the year ended 31 December 2023.

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 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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

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:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent 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.

Jane Ascroft FCA MA (Cantab) Independent Examiner

Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

Gym Possible (Previously Pop Up Gym CIO)

Statement of Financial Activities

Year Ended 31 December 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	31,270	14,470	45,740	15,605
Charitable activities	5	5,233	–	5,233	–
Other trading activities	6	640	–	640	–
Other income	7	1,295	–	1,295	–
		`────────`	`────────`	`────────`	`────────`
Total income		38,438	14,470	52,908	15,605
		`════════`	`════════`	`════════`	`════════`
Expenditure
Expenditure on charitable activities	8,9	16,433	14,470	30,903	24,926
		`────────`	`────────`	`────────`	`────────`
Total expenditure		16,433	14,470	30,903	24,926
		`════════`	`════════`	`════════`	`════════`
		`────────`	`────────`	`────────`	`────────`
Net income/(expenditure) and net
movement in funds		22,005	–	22,005	(9,321)
		`════════`	`════════`	`════════`	`════════`
Reconciliation of funds
Total funds brought forward		14,756	–	14,756	24,077
		`────────`	`────────`	`────────`	`────────`
Total funds carried forward		36,761	–	36,761	14,756
		`════════`	`════════`	`════════`	`════════`

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

The notes on pages 7 to 14 form part of these financial statements.

Gym Possible (Previously Pop Up Gym CIO)

Statement of Financial Position

31 December 2023

		2023	2022
	Note	£	£
Fixed Assets
Tangible fixed assets	13	30,000	–
Current Assets
Debtors	14	100	–
Cash at bank and in hand		7,081	14,756
		`───────`	`────────`
		7,181	14,756
Creditors: amounts falling due within one year	15	420	–
		`───────`	`────────`
Net Current Assets		6,761	14,756
		`────────`	`────────`
Total Assets Less Current Liabilities		36,761	14,756
		`────────`	`────────`
Net Assets		36,761	14,756
		`════════`	`════════`
Funds of the Charity
Unrestricted funds		36,761	14,756
		`────────`	`────────`
Total charity funds	16	36,761	14,756
		`════════`	`════════`

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 23/10/2024

Clare Potts Trustee

The notes on pages 7 to 14 form part of these financial statements.

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements

Year Ended 31 December 2023

1. General Information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 39 Kingsley Avenue, Newcastle, NE3 5QN.

2. Statement of Compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

There are no material uncertainties about the charity’s ability to continue.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

3. Accounting Policies (continued)

Income (continued)

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

3. Accounting Policies (continued)

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Cash at Bank and in Hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

4. Donations and Legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Donations	1,270	–	1,270
Equipment acquired in previous years via donation or
fundraising	30,000	–	30,000

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

4. Donations and Legacies (continued)

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Grants
	The CiaO Foundation		–	1,500	1,500
	Matt Hampson Foundation		–	2,790	2,790
	James Knott Foundation		–	5,000	5,000
	Boost Charitable Trust		–	4,680	4,680
	British Engines Fund		–	500	500
			`────────`	`────────`	`────────`
			31,270	14,470	45,740
			`════════`	`════════`	`════════`
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Donations
	Donations		15,605	–	15,605
			`────────`	`────`	`────────`
			15,605	–	15,605
			`════════`	`════`	`════════`
5.	Charitable Activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Income from website for PT
	sessions/memberships	5,233	5,233	–	–
		`═══════`	`═══════`	`════`	`════`
6.	Other Trading Activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Fundraising events	640	640	–	–
		`════`	`════`	`════`	`════`
7.	Other Income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Other income	1,295	1,295	–	–
		`═══════`	`═══════`	`════`	`════`

Gym Possible (Previously Pop Up Gym Cio)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

8. Expenditure on Charitable Activities by Fund Type

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
	Costs of charitable activities	16,433	14,470	30,903
		`════════`	`════════`	`════════`
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		£	£	£
	Costs of charitable activities	24,926	–	24,926
		`════════`	`════`	`════════`
9.	Expenditure on Charitable Activities by Activity Type
		Activities
		undertaken	Total funds	Total fund
		directly	2023	2022
		£	£	£
	Costs of charitable activities	30,903	30,903	24,926
		`════════`	`════════`	`════════`
10.	Independent Examination Fees
			2023	2022
			£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements		420 `════`	– `════`

11. Staff Costs

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

12. Trustee Remuneration and Expenses

No trustees have received expenses or remuneration in the current or previous year.

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

13. Tangible Fixed Assets

	Equipment
	£
Cost
At 1 January 2023	–
Additions	30,000
	`────────`
At 31 December 2023	30,000
	`════════`
Depreciation
At 1 January 2023 and 31 December 2023	–
	`════════`
Carrying amount
At 31 December 2023	30,000
	`════════`
At 31 December 2022	–
	`════════`

14. Debtors

		2023	2022
		£	£
	Prepayments and accrued income	100	–
		`════`	`════`
15.	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Accruals and deferred income	420	–
		`════`	`════`

16. Analysis of Charitable Funds

Unrestricted funds

Unrestricted funds
						At
	At	1	January		31	December
			2023	Income	Expenditure	2023
			£	£	£	£
General funds			14,756	38,438	(16,433)	36,761
			`════════`	`════════`	`════════`	`════════`
						At
	At	1	January		31	December
			2022	Income	Expenditure	2022
			£	£	£	£
General funds			24,077	15,605	(24,926)	14,756
			`════════`	`════════`	`════════`	`════════`

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

16. Analysis of Charitable Funds (continued)

Restricted funds

Restricted funds
				At
	At 1 January		31	December
	2023	Income	Expenditure	2023
	£	£	£	£
The CiaO Foundation	–	1,500	(1,500)	–
Matt Hampson Foundation	–	2,790	(2,790)	–
James Knott Foundation	–	5,000	(5,000)	–
Boost Charitable Trust	–	4,680	(4,680)	–
British Engines Fund	–	500	(500)	–
	`────`	`────────`	`────────`	`────`
	–	14,470	(14,470)	–
	`════`	`════════`	`════════`	`════`

The restricted grants are for the following purposes:

The CiaO Foundation - One year’s online training programme for members Matt Hampson Foundation - Physiotherapy for members James Knott Foundation - Personal training wages Boost Charitable Trust - Personal trainer wages

British Engines Fund - Purchasing a new VitaGlide (new gym equipment)

Gym Possible (Previously Pop Up Gym CIO)

Notes to the Financial Statements (continued)

Year Ended 31 December 2023

17. Analysis of Net Assets Between Funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Tangible fixed assets	30,000	30,000
Current assets	7,181	7,181
Creditors less than 1 year	(420)	(420)
	`────────`	`────────`
Net assets	36,761	36,761
	`════════`	`════════`
	Unrestricted	Total Funds
	Funds	2022
	£	£
Tangible fixed assets	–	–
Current assets	14,756	14,756
Creditors less than 1 year	–	–
	`────────`	`────────`
Net assets	14,756	14,756
	`════════`	`════════`

18. Related Parties

The CEO of the charity, Drew Graham, is the brother of Jonathan Graham, trustee, and the son of Gary Graham, also a trustee. Drew received remuneration of £12,500 during the year.

Gym Possible (Previously Pop Up Gym CIO)

Management Information

Year Ended 31 December 2023

The Following Pages Do Not Form Part of the Financial Statements.

Gym Possible (Previously Pop Up Gym CIO)

Detailed Statement of Financial Activities

Year Ended 31 December 2023

	2023	2022
	£	£
Income and endowments
Donations and legacies
Donations	1,270	15,605
Equipment acquired in previous years via donation or fundraising	30,000	–
The CiaO Foundation	1,500	–
Matt Hampson Foundation	2,790	–
James Knott Foundation	5,000	–
Boost Charitable Trust	4,680	–
British Engines Fund	500	–
	`────────`	`────────`
	45,740	15,605
	`────────`	`────────`
Charitable activities
Income from website for PT sessions/memberships	5,233	–
	`───────`	`────`
Other trading activities
Fundraising events	640	–
	`────`	`────`
Other income
Other income	1,295	–
	`───────`	`────`
	`────────`	`────────`
Total income	52,908	15,605
	`════════`	`════════`
Expenditure
Rent	4,200	3,600
Gym Management	12,500	13,252
Administration expenses	3,909	5,820
Gym Running costs	2,584	2,254
Personal trainers	7,710	–
	`────────`	`────────`
	30,903	24,926
	`────────`	`────────`
	`────────`	`────────`
Net income/(expenditure)	22,005	(9,321)
	`════════`	`════════`