NORTH WALSHAM GYMNASTICS CLUB (A private company limited by guarant&} REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charfty Number: 1171166 Company Reglstratlon Number. 09626412
NORTH WALSHAM GYMNASTICS CLUB CONTENTS OF THE FINANCIAL STATEMENTS for the yoar ended 31 Doc•mb•r 2024 Page Legal and administrative infomiatiDn Report of the Trustees Report of the Independent Examlners Statement of Financia Actlvttres Balance Sheet Notes ta the Financial Statements 7-13
NORTH WALSHAM GYMNASTICS CLUB LEGAL AND ADMINISTRATIVE INFORMATION for the yoar gnd•d 31 DKombgr 2024 Reglstsr•d Charlty Namo." North Walsham Gymnastics Club R•gtstered Chaflty number: 1171168 Registsrad Company numbor. 09626412 Reglst•red office: 12 Llme Tree Road North Walsham Norfolk NR28 9DY Placo of bu8ines5: 4 Comish Way Business Park North Walsham Norfolk NR28 OAW TrustO05: Mr Michael Brooks Mrs Theresa Freemen Mrs Patrtca Johnson Ms Donna Yarham Mr Neal Hayes-Bradley Mrs Tina Casbum Key Alanagement Porsonnel: Mrs Alexis Thurston (He*J Coach) Solicitors: Hansells Solicitors Canada House Grammar School Road North Walsham NR28 9JH Indendent Examinors.. Sexty & Co Chartered Certffied Accounlants 124 Thorpe Road Norwich Norfolk NR1 1RS
NORTH WALSHAAI GYMNASTICS CLUB REPORT OF THE TRUSTEES for the y•ar ended 31 December 2024 The Trustees present their report the finanaal statements of the charity for the year ended 31 Decemb 2024. STATUS North Walsham Gymnastlcs Club is a company Ilmited by guarantee and was incorporated on 5 June 2015. The company is an incorporated charity regislered with the Charlty Commission (Registration No. 1171166). It is govemed by Its Memorandum and Articles ol Association. PRINCIPLE ACTIVITY The principle activrty of North Walsham Gymnastics Club is to promote particlpalon In the amateur sprKt of gymnastics induding General, Women's Artistic, Men's Artistic, Disablllty Gymnastics and Pre-school to provide facilities within North Walsham and 14orth Norfolk for the benefit of members throughout the communty. To ensure adequate resources. coaching and welfare are available to all members and other bodies. CHARITABLE OBJECTS To promote community partlclpatlon in heafthy recreation for the beneffts of the inhabitants of North Walsham and the Suound1ng area, by the provision of laclllties forthe sport of amateur gymnastics and other charitable activitles. OBJECTIVES AND ACTIVITIES North Walsham Gymnasdcs Club is a registered charity whh provides a fvn. safe and nurturing environment to obtain the essential foundation skllls In gymnasfjcs. The essential skills prowded enable young people to exed their expectations, develop self-esteem and realise their potential. The club offers a varled gymnasti¢s and conditioning program from social gymnastlcs through to competbti've gymnastics with price options for all levels of interest, but wtth greater emphasis on group classes. The Club's coaches have aC$S to continual training wth some of the area's top professional coaches, this provides the students wrth up-to-date moves and techniques. The Club welcomes a diversty of people and maintalns a non-smoking and alcoholldrug free environment. PUBUC BENEFIT STATEMENT The Trustees have regard to the Charity Commission's public benefft guidance. ACHIEVEMENTS AND PERFORMANCE North Walsham Gymnastics Club now has a totsl of 308 retreational members, 102 Competits'vefintemiediate, 19 development, 46 pre-school and 12 Home-ed. This lotals 487 members in all. A sllght decrease of 8 member$ from 2023. The ckjb compete in regular competrtions throughout the year, from the club competition which is open for all. to General and Artistic County and Regional Compelitlons. These take plats in Norwich. Ipsviich and Peterb(Kough throughout the year. NVWGC always perform to the highest standard8 and wn many trtles across Ihe board. NWGC had 11 gymnasts selected for Norfolk County Squad and 2 gymnasts represent Norfok in the Inter counties team finals. We have 17 regular coaches ranging from level O to Level 4 coaching on a part time basls. We hekl our first 'Summer camp, week which saw children taking part in activrties out of the gym In the IcKal community with great fun. Many thanks must go to all our coaches. sL3ff arKI volunteers for their supporL
NORTH WALSHAM GYMNASTICS CLUB REPORT OF THE TRUSTEES for the y•ar ended 31 December 2024 (contlnued) FINANCIAL REVIEW The Statement of Financial Actmties show8 a surplus tr the year of £12,623 (2023 surplus: £18.002> and total ServeS stand at £128,697 (2023: £114,074}. RESERVES POLICY It is the policy of the charity to maintain uffestricted funds which are the free reserves of the charity. at a level vthich equates to approximately six months unrestricted expenditure. This provides sufficient fvnds to cover management and administration and support costs and to respond to emergencie5. RISK IAANAGEIAENT The Trustees review the risks of the charity on a regular basis and have implemented policies and procedures to mitigate exposure to these risks. In addition, a reviewof all financlal risks is undertaken on a regular basis. GOVERNANCE AND MANAGEMENT The day to day affairs of the charity are overseen by the Board of Trustees. The Trustees meet on a regular basis to review the charity's activities. Where there is a need for new Trustees, these are identtfied and appointed ty the e$tIng Trustees, In accordance with the Articles of Association. The report of the trustses has been prepared tak advantage of the small companies. exemption of seotlon 415A of the Companies Act 2006. ON BEHALF OF THE TRUSTEES ohnson - Trustee Mrs T Freemen - Trustee 211,.[2f
NORTH WALSHAM GYPaNAsncs CLUB REPORT OF THE INDEPENDENT EXAiaiNERS TO THE TRUSTEES tor tho yoar ended 31 Docombgr 2024 I report to the charity trustees on my examlnation of the atxounts of the company ft)r the year ended 31 December 2024 which are set out on pages 5 to 13 Rosponsibililies and basls of roport As the charity trustees of the company (and also its directors for the purposes of compary law) you are responsible for the preparation of the aCcOts in accordance with the requirements of the Companies Act 21Th ('the 20QE Act'i HavirKJ satisfied myself that the accounts of the company are not quired to be audited under Part 16 of the 2006 Act and are eligible for independent examinats'on. I rep)rt in respect of my examination ofyour company's accounts as Garried out under section 145 of the ChaTitie8 Act 2011 I'the 2011 Act.). In carrying out my examinalion I have followed the DireGtion¥ giv by the Charlty Commission under Section 145{5)(b) of the 2011 Act Independént oxamlnorfs statsmont I have completed my examination. I confimi that no matter3 have come to my attention in connection with the examination giving me cause to believe that in any mateiial respect accAxnkn'ng records were not kept in respect of the company as required by sectlon 386 of the 2006 Ac¢ or the accounts do not accord with those records. or the accounts do not comply with the accounting qUirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair viev/ which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for acGounting and reporting by charities applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection Vth the examination to attention should be drawn in this report in order to enable a woper under8tandlng of the accOw5 to be reached. A Orves FCCA, FCA Sexty & Co Chartered Cwtified Accountants and Registered Auditors 124 Thorp8 Road Norwich NR1 1RS /,/
NORTH WALSHAM GYMNASTICS CLUB STATEMENT OF FINANCIAL ACTMTIES (INCLUDING INCOME AND EXPENDrruRE ACCOUNT) for the year ended 31 December 2024 Total funds 2024 Totsl funds 2023 General Restrictsd funds Incom• from: Donations and grants Chafitable activities Totsl income 6,210 254,323 260.533 6,210 254.323 260,533 2.731 234.923 237,654 Expondlture on.. Charitable activiti8S 247,910 247,910 219,652 Total charltable ex•ture 247.910 247,910 219,652 Not Incomel(Bxpendlturn) 12.623 12,623 18.002 Transfers beiween funds Net movement In funds 12.623 12.623 18,002 RKonclllallon of funds Fund balances brought forward 114.074 114,074 96,072 Fund balan$ carried foThvard 126,697 126.697 114.074 The notes set out on pages 7 to 13 form an Integral part of these financial statements
NORTH WALSHAM GYMNASTICS CLUB (COMPANY REGISTRATION NO. 09626412) BALANCE SHEET 31 Dember 2024 2024 2023 Fixed assets 16.194 12.188 CunBnt assets Stock Debtors and prepayments Cash at bank and in hand 1,830 853 123,313 125,996 3.300 109,935 113,878 Croditors duo withln one year 10 11.992 Net Current assets 110.503 101.886 Not assets 126,697 114,LV4 Restricted fvnds Unrestrfcte(I funds 126.697 114.074 Total Funds 126,697 114.074 The company was entitled to exemption from audit under S477 of the Companies Act 2006 relating to small companies. Dire¢tor3' responsibilrties.. The members have not required the company to obtain an audit in accordance w(<h section 476 of the Companre8 Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to a¢Unti records and the preparation of ffflancial statements. These financial stateff*nts have been prepared in accordance with the provisiijns applicable to small companies subject to the small companies regime and in accordance wtth FRS102 SORP. The financial statements were approved by the Trustees on ... behalf by: d were signed on Its MrsP ohnson- Trustee Mrs T Freemen ~ Trustee
NORTH WAL8HAM GYMNASTICS CLUB NOTE8 TO THE FINANCIAL STATEAIENTS for the year ended 31 D•cembor 2024 1. Accounllng pollcles Goneral fnformatton and basls of preparatlon North Walsham Gym Club is a charilable company in ErKJland I Wales. The tharity constitutes a publc benefft entity as defined by FRS 102. The financpl ststements have been prepared under the historical cost convention with items recognised at cost or transactton value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Praclice. Accounting and Rewrting by Charities preparing their accounts in accordan with the Finala1 Reporting Standard applicab in the UK and Republic of Ireland (FRS 102) issued in October 2019. and with the Financial Rep(xting Standard applicable in the United Kingdom and Republic of IrelarKI (FRS 102) and with the Charities Act 2011. b) Funds General funds are available for use at the discrtion of the trustees in furtheran of the general objectives of the charity and which have not been designated for other purposes. Restricted fvrxls are funds which are to be used accordance with specrfic restrictlons imposed by dorr$ or which have been raised by the charity for particular purposes. Incomo r•cognltlon All incoming resources are induded in the Stment of Financial Activities {SoFA) then the Gharity is legalty entided to the income after any perfomiance condltlons have been met, the anwunt Can be measured rellabty and it is probable that the income will be received. For donations to be recogni$ed the charity will have been notified of the amounts and the settlement date in witing. If Ihere are conditions attached to the donation and this requires a level of perfornwnce before entitlement can be omained then income Is deferred until those conditions are fily met or the fulfilmenl of those condltlons is within the control of the charrty and it is probable that they will be fulfilled. InG¢)me from grants is recognised vthen the charity has enttlement after any performance CorlI10n$ have been met. it is probable that the inconie will be received and Ihe amount can be measured reliabty. If entitlement is not then these amounts are deferred. d} EXnthrn rncognition All expenditure is accounted for on an accruals basis and has been classif*d under headiNJs that aggregate all Costs related to the category. Expenditure is rOgnIsed where Ihere is a legal or construdive obligation to make payments to third parties. it is probable Ihat the settlement Wbll be wuld and the amount of the obligation can be measured reliably. IrcoVerable VAT is charged as an expense against the activity for which expendiknre arose.
NORTH WALSHAM GYAINASTIC8 CLUB NOTES TO THE FINANCIAL STATEMENTS for the year end•d 31 December 20241continu•d) Accountlng pollcies- continued Flxed assets Tangble fved assets are ted at tJ)st or valuation less accumulated deprecialion and accumulated impaimient losses. Cost indude5 costs direclly attfibutable to making the asset capable of operating as intended. Depreciation is provided on all tsngible fixed assets. at rates calculated to wrrte off the cos( less estimated residual value. of each asset on a systematic basis over its expected useful life as folbws: Leasehokl improvements Plant and machinery Equipment 10% straight line 25% sts3ight line 25% straight line Stocks Stocks are measured at the lower of cost and estimated selling pTice less costs to complete and sell. Cost includes all costs of purchase. costs of Conversion and other costs incutred in brirwJing the stock to its presenl locats'on and Gondltion. g) Rental payable urKler operating leases are chged to the SOFA on a straight li)e basis over the period of the lease. h) Tax The chwity is an exempt charity wtthin the meaning of schedule 3 of the Charities Act 2011 and is considered to passthe tesls set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefora it meets the definition of a charitable company for UK corporation tax purposes. Going concem The finanaal statements have been prepared on a going conrn basis as the trustees believe that no material uncertainties exist. The trustees have considered Ihe level of funds held and the expecled level of income and expendiiure for 12 month5 from authorising these financial ststements. The budgeted in¢x)me and expenditu is suffiuent with the level of reserves for the charity to be able to continue as a going concem. J) Limlt•d by guarantee North Walsham Gymnastics Club Limited is a company limlted by guarantee and accordingty does not have any share Catal. Every member of the company undertakes to contrlbute such amount as may be required not exeding £1 to the assets of the charltable company In the event of its being wound up while he or she is a member, or wlthin one year after he or she ceases to be a member
NORTH WALSHAM GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS for the year WKlgd 310gcember 2024 (contlnuod) Acc(ntIng policles- contlnu•d k) Govornment grants Grants are accounted under the accruals model as pemitted by FRS 102. Grants relating to expenditure on tsngible fixed assets are credited to profit or loss at the same rate as the depreciatton on the assets to which the grant relate5. The deferred element of grants is induded in (Teditors as defeed income. Grarrts of a revenue nature are re¢ognised in Ihe profit and loss account in the same period as the related expenditure. 2. Income from donatlons and grants Genoral funds Rostrlctsd funds 2024 2023 Miscellaneous Donatlons Just Financial Planning British Gymnastics Norfolk Gymnastlcs Association 10 5.CQO 10 5,000 1.629 1,102 1,200 1.200 6.210 6.210 2,731 3. Income from charltable activiti•s General fund5 Restri¢tsd funds 2024 2023 Fees Insurance Clothing etc. Tuck shop Competition and course fees Summer sessions Fundraislng Gym hire 225.789 225,789 194.959 16,341 4,833 4.903 4,903 9.026 3.670 10,690 245 9,026 3,670 10,890 245 6,465 4,235 8.090 254,323 254,323 234,923
NORTH WALSHAIA GYlaNASTIC8 CLUB NOTES TO THE FINANCIAL STATEMENTS for the ygar ended 31 December 2024 {contlnuad> Anatysis of exponditure on charttable activities General Funds Restricted Fund8 2024 2023 Rent & rates Light & heat Repairs & renewals Salaries Pension contributions Coaches. expenses Compelition & course fees Clothing etc. Licences and insura Telephone & broadband Postage & Stationery Equipment Website Bank & card tharges Accountancy & payroll fees Legal Fees Miscellaneous Depreciation 34,434 5.345 1.516 164,304 1,820 358 6,146 4.395 11.039 352 34.434 5.345 1.516 161.587 4,537 358 6.146 4,395 11,039 352 34.348 5.517 1.003 136,925 1,886 221 825 4.649 21.897 345 51 90 480 3.975 2.479 1,436 12 4,388 2,433 214 2.496 7,222 1,436 12 4.388 2.433 214 2,496 7,222 547 4.416 247.910 247.910 219.652 S. Independent examiner feos Fees payable to the independent examiner for: 2024 2023 Independent examination of the financial statements Other financial servrxJ 1.200 1.296 1,200 1,279 2.496 2,479 10
NORTH WALSHAM GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS for the y•ar •ndod 31 Decfjmbor 2024 Icontinuod) 6. Trustse's remuneratlon and exponses The bustees have neither received nor waived any remuneration or expenses durlng the cwrent year. Stsff Cts The average monthly number of employees during the year was 16 employees {2023". 18). The total staff costs and employee beneffts wete as follows: 2024 2023 Wage8 and 9al8ries Penslon costs 164,304 136.925 1,820 166,124 138.81t No employee received total employee benefits of more than £60,000. The Charlty considers that the key management personnel comprises the Trustees and the senior management team. The total employee benefits of the key management personnel of the Chanty were £43,163 (2023 £40.215). 8. Flxed Assets Leasehold Improvements Plant and machlnery Equipment Total At 1 January 2024 AddlOnS At 31 December 2024 23,252 9.121 91.930 11,228 103.158 124,303 11.228 135 531 23,252 9.121 Deprnciatlon At 1 January 2024 Charge for the year At 31 December 2024 16.275 2.328 18.603 9,121 86,716 4,897 91,613 112.112 7,225 119.337 9,121 Net Book Value At 31 December 2024 At 31 December 2023 4.649 8,977 11,545 5,211 16,194 12,188 9. Debtors and prepayments 2024 2023 Trade debtors 853 853 643 643
140RTH WALSHAM GYAINASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS fortho year ended 31 De¢omber 2024 (contlnued) 10. Credftor8: amounts falllng du• vAthin ono yoar 2024 2023 Trade creditors TaxatKin and social security Accrual8 627 1,673 956 13,193 11,036 15,493 11. Leases Total fure minlmum lease payments under nonwcancellable operating I$05 arn as 2024 2023 Not later than one year Later than one and not later than five years 32,604 32,604 62,491 95.095 95,095 127.699 12. Pensions and other post-retlrement beneflts - Dofin•d contrlbutlon plans The amount COgnised in income or expendlture as an expense in relation to defined contributions plans was £1,820 (2023: £1.886). 13. Fund reconcillatlon Balances 01.01.24 Balan3 31.12.24 Incom• Expenses Transf•r¥ General fvnds 114,074 260,533 247.910 126,697 Restricted funds T¢)tal funds 114.074 260.533 247,910 126,697 General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and lch have not been designated for other purposes. 12
NORTH WALSHAM GYMNASTICS CLUB NOTES TO THE FINANCIAL STATEMENTS for th• year ended 31 December 2024 (continued) 14. Anaty$l$ of net asg0ts bn fvnds Genoral funds R•strict8d funds Total Fixed assets Current assets Creditors less than 1 year 16.194 125.998 {15,493) 16.194 125.996 (15,493) Net curr•nt assets 126,897 126,897 q5. Rolat•d rtY transactlons There were no related paty transaction3 during the period (2023.. Nil). 13