## **REPORT OF TRUSTEES AND FINANCIAL STATEMENTS Year Ended September 2024**
**DATE: June 2025**
**WEALD GYMNASTICS CENTRE CIO REGISTERED CHARITY NO: 1194372**
## **Contents**
- 1.0 Report of the Trustees
- 2.0 Statement of Financial Activities
- 3.0 Balance Sheet
- 4.0 Cash Flow Statement
- 5.0 Notes to the Financial Statements
**2**
## **1.0 Report of Trustees**
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 30[th] September 2024. 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 I January 2019)
## OBJECTIVES AND ACTIVITIES
## OBJECTIVES AND ACTIVITIES
The promotion of community participation in healthy recreation, for the benefit of the inhabitants of the surrounding area, in particular by the provision of facilities for the sport of gymnastics.
## 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.
**3**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In the provision of gymnastics for Tonbridge and surrounds, the Centre has delivered a range of activities for many different parts of the community, all ages of participant and all levels of ability in gymnastics.
This year has involved consolidation and diversification of our gymnastics activities within the Centre, catering to an ever more diverse group of local people. Significant investment and work has been required to continue with improving the facilities, both in terms of the building itself and the equipment (including new springboards, a new sprung floor area and a fast track). This has been done alongside continuing to develop the team of coaches and building our reputation in the local area. We intend to invest any surplus funds this year into increasing the standard and diversity of equipment and continuing to improve the building.
## **Gymnastics For All**
GFA gymnastics classes have continued to grow, with 400 recreational gymnasts now training at the Centre. It is hoped this growth can continue as there remains a healthy waiting list for children to join the club. A very successful Weald Club competition was held in May that saw over 200 of the gymnasts compete. Holiday clubs have also been popular, with courses offered from preschool-aged children up to advanced tumbling skills.
## **Squad Gymnastics**
The Centre currently support 43 4-piece squad members. This year the Centre entered the NDP grades with 38 gymnasts - double the number of gymnasts who were entered in 2023, with very good results from all who competed. The Centre has 1 gymnast is the South East Regional squad who also represented the South East at the NDP finals in May 2024, helping the Team win a Bronze medal. There are also 8 gymnasts who are in the Kent County squad. Both groups meet 4 times a year for squad training
## **Preschool Gymnastics**
The Preschool Gym program experienced significant growth this year, now offering independent, parent-led, and semi-structured classes. Some sessions have been at full
**4**
capacity with waiting lists, reflecting the program’s popularity. It has been inspiring to watch the young gymnasts' progression, as they develop confidence and foundational skills that seamlessly transition into the main gymnastics classes at the Centre.
## **Adult Gymnastics**
An Adult gymnastics class runs every Wednesday evening, with 16 – 30 adults each week taking part. Beginner gymnasts to ex British gymnasts train together in a supportive and friendly atmosphere. Some of the adults are now taking advantage of the growing number of gymnastics competitions for adults, bringing back a number of medals. We hope to grow this competitive activity in the coming year, while maintaining provision for gymnasts who do not want to compete.
## **Further Activities**
The Centre’s facilities are hired out to enable gymnasts from other clubs to train at the Centre.
Students with special needs from a local school also take classes appropriate to their abilities, including children with cerebral palsy and Downs syndrome, and there is interest in increasing this provision to other schools for children with special needs.
A local school has hired the club for GCSE preparations and the Kent Championships took place at the Centre in February.
## **Coaching staff and volunteers**
The charity now has over 25 level 0 to level 5 coaches who are all self-employed, and a number of volunteers who help with coaching, administration, special events and the day-today operation of the building.
## **Internal and external factors**
The trustees recognise that fees and membership can be prohibitive to those on low incomes. Although fees have had to increase this year to take account of energy prices and inflationary
**5**
pressures, the Trustees have sought to keep subscriptions at levels that will not pose a significant obstacle to participation. In case of need, there is a bursary scheme available.
**6**
## **FINANCIAL REVIEW**
Financial position
On the Balance Sheet date the Club had unrestricted reserves of £348,708 (2023: £311,604).
The £37,104 surplus achieved in the reporting year ended 30[th] September 2024, have enabled the continued investment in some new equipment and building fabric improvements for the Gym.
The Club's reserves are held are in accordance with the reserves policy and will be spent on the projects described in the Future Plans section in the coming years
## **Reserves Policy**
We strive to hold reserves in the order of the equivalent of six months' running costs. The Club's running costs are between £24,000 and £26,000 per month, of which approximately £12,000 are costs to pay coaches cleaning and administrative staff, £8500 is rent and the balance on general running costs.
## **FUTURE PLANS**
The Centre is a non-profit organisation needing to raise sufficient income to meet its outgoings and continually improve the facilities it offers to members. The Centre is also acutely aware of the current cost of living situation, including the significant rise in energy costs.
The priority for the centre itself in the coming year is to continue to increase its usability as a facility, seven days a week. This will include continuing to improve the air movement and cooling in the main gym area, finishing improving the fabric of the building and continuing to improve the equipment that is available to all gymnasts.
To achieve this will require continued growth and diversification of income through 2024 to 2025. We intend to add more recreational classes, add more preschool sessions, and start some daytime classes for home educated children. Fees will be reviewed during the year to
**7**
balance rising costs with affordability, with provision continuing to be made to increase inclusion of those less able to contribute.
Private hire by local schools will continue to be offered where this can be fitted in around early recreational classes. Private parties at weekends will also be offered, continuing to tailor these to different age ranges.
It is planned that the Centre will also continue to offer gymnastic activities to children with special needs and further training on coaching children with special needs is to be undertaken during 2025-26.
It is hoped that adult session will continue to be a success, including the possibility of attracting more adults into coaching and assisting in other ways with club activities, as well as offering continue gymnastics activities for the existing club coaches.
Coach education will continue to be a priority, both as a service to the young people of Tonbridge, who can gain qualifications which they can use in their future lives, and also to increase the capacity of classes, especially on the recreational side. The focus will be to increase the availability of level one and level two coaches, which allows for a higher level of gymnastic coaching for both recreational and competitive gymnasts.
In addition to class income, grants will continue to be sought, recognising the range of benefits that the centre provides to the local community. It is also hoped that during this year that we can further increase the engagement of parents and other volunteers to the club, especially in the area of fundraising. Club and wider competitions will be run and other social fundraising activities such as sponsorship events will be investigated throughout the year.
It is hoped that increased facility provision and improved equipment will create a virtuous circle of greater engagement and increased income to the Centre over the course of the year, so that we can continue to improve our offer to all our gymnasts and broaden our reach to wider parts of the local community.
Realistic budgets have been set for the year with not just targets for continued growth, but also with meaningful salary increases to help protect our loyal and much-valued coaches and other support personnel as far as we can.
**8**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The Weald Gymnastics Centre is a Charitable Incorporated Organisation. It is governed under its Constitution filed with the Charity commission on the 7th May 2021.
## **Recruitment and appointment of new trustees**
The management of the Club is the responsibility of the Trustees who are elected and coopted under the terms of the CIO’s Constitution. 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 CEO 25505
Registered Charity number 1194372
Registered Office:- 6a Sovereign Way, Tonbridge Kent TN9 1RS
**9**
## **TRUSTEES**
Robert Bradburne
Sally Parkes Ben Dart Mike Burt Jacky Leman
Approved by order of the board of trustees on 31st July 2025 and signed on its behalf by:
J Leman – Trustee
## **Accounts**
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 31[st] July 2025
and were signed on its behalf by
……………………………….
Jacky Leman
Trustee
……………………………………
Robert Bradburne
Trustee
**10**
## **Weald Gymnastics Centre - registered charity number 1194372**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 September 2024**
|**INCOME**
Donations and Fundraising
3
_Income from charitable activities_
Recreational Fees
4
Merchandise sales
5
Squad fees and competition income
6
other activity
7
Investment income
**TOTAL INCOME**
**EXPENDITURE ON**
_Charitable activities_
Coaching and Squad fees
8
Other staffing costs
8
Building operating costs
8
Administration costs
8
Equipment costs
8
Other expenditure
8
Depreciation
9
**TOTAL EXPENDITURE**
**NET INCOME BEFORE TRANSFERS**
**TRANSFERS**
NET MOVEMENT IN FUNDS
**RECONCILIATION OF FUNDS**
TOTAL FUNDS BROUGHT FORWARD 1 October 2023
**TOTAL FUNDS CARRIED FORWARD AT 30 September 2024**|**£**
1
215,424
5,355
147,144
38,773
1,306
**408,003**
159,340
30,881
139,090
11,263
0
10,458
19,868
**370,899**
**37,104**
-
**37,104**
**311,604**
**348,708**
**Funds**
**Unrestricted**|**£**
-
-
-
-
-
-
**-**
-
-
-
-
-
-
-
**-**
-
-
**-**
-
**-**
**Funds**
**Restricted**|**Total**
**2024**
**£**
1
215,424
5,355
147,144
38,773
1,306
**408,003**
159,340
30,881
139,090
11,263
0
10,458
19,868
**370,899**
**37,104**
-
**37,104**
**311,604**
**348,708**|**Total**
**2023**
**£**
15,646
182,030
7,001
114,524
22,430
2,163|
|---|---|---|---|---|
|||||**343,794**|
|||||**124,071**
**24,876**
**106,658**
**27,279**
**720**
**2,931**
**19,868**|
|||||**306,402**|
|||||**37,392**
-|
|||||**37,392**
**274,212**|
|||||**311,604**|
## **Weald Gymnastics Centre - registered charity number 1194372**
|||**Balance Sheet**||
|---|---|---|---|
|||**30th September 2024**||
|||**2023**|**2023**|
|||£|£|
|**Fixed Assets**|9|58,875|78,742|
|**Current Assets**||||
|Stock||-|-|
|Debtors|10|41,168|41,855|
|Cash at bank and in hand||314,095|258,094|
|||**414,137**|**378,691**|
|**Current liabilities**||||
|Creditors|11|38,770|30,622|
|Total Assets less current liabilities||**375,367**|**348,068**|
|**Liabilities greater than one year**|12|||
|Bounce back loan|1|26,658|36,464|
|Net Assets||**348,708**|**311,604**|
|The Funds of the Charity||||
|Unrestricted Funds||348,708|311,604|
|Restricted Funds||-|-|
|Total Charity Funds||**348,708**|**311,604**|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year, and of its surplus or deficit for each financial year in accordance with the requirements of the Sections 394 and 395 of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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, and were signed on its behalf by:
Robert Bradburne Date
## **Weald Gymnastics Centre - registered charity number 1194372**
## **Cash flow statement for the year ending 30 September 2024**
|Cash flows from operating activities
Net income for the reporting period
Increase in Debtors
Increase in creditors
Depreciation charges
Net cash provided by/(used) in operating activities
Cash flows from Investing activities
Purchase of Fixed assets
Cash flows from financing activities
Loan repayments
Change in cash and cash equivalents in reporting period
Opening cash and cash equivalents 1 October 2023|37,104
687
8,148
19,867|
|---|---|
||65,807|
||0
(9,806)|
||56,001|
||258,094|
|**Closing cash and cash equivalents 30 September 2024**|**314,095**|
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
## 1. **CHARITY STATUS**
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have any share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the asset of the charity in the event of liquidation.
The address of its registered office is: Weald Gymnastics Centre, 6a Sovereign Way, Tonbridge, TN9 1RS
## 2. **ACCOUNTING POLICIES**
The financial statements of the charity which is a public benefit entity under FRS102, have been prepared in accordance with the the Charities SORP (FRS102) ' 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 (FRS102) (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.
## **Basis of preparation**
Weald Gymnastics Centre meets the definition of a public benefit entity under FRS102. Assets and liabilities are recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affects the carrying value of assets held by the charity.
## **Judgements and key sources of estimation uncertainty**
In the application of the charity's accounting policies, the trustees (who are also Directors) 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 and underlying assumptions are reviewed on an ongoing basis.
## **Income and Endowments**
All income is recognised once the charity has entitlement to that income, it is probable that the income will be received and the amount of the income receivable can be reliably measured.
## **Donations and legacies**
Donations can be recognised when the charity has received the income. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either of the above conditions are fully met, or the fulfilment of those conditions is wholly within control of the charity and it is probable that these conditions will be fulfilled within the reporting period.
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
## 2. **ACCOUNTING POLICIES (CONTINUED)**
## **Grants Receivable**
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance criteria are attached to the grant which have yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## **Deferred Income**
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received.
## **Investment Income**
Income is recognised when received.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
## **Charitable Activity**
Charitable expenditure comprises that costs both incurred by the charity in delivery of its charitable activities and services, and also include costs of support costs incurred by the charity. Support costs are not allocated to specific charitable activities.
## **Taxation**
The charity is exempt from taxation in respect of income or capital gains received within categories covered by the Corporate Tax Act 2010, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible Fixed Assets**
Individual fixed assets costing more than £x (to be agreed) are initially recorded at cost, less any subsequent accumulated depreciation and subsequently accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any residual value, over the expected useful economic loss as follows:
|**Asset Class**|**Depreciation method and rate (to be agreed)**|**Depreciation method and rate (to be agreed)**|**Depreciation method and rate (to be agreed)**||
|---|---|---|---|---|
|Building improvements||5 Years|Straight line|20%|
|Furniture, fittings and equipment||5 Years|Straight line|20%|
|Gymnastics equipment||5 Years|Straight line|20%|
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
## 2. **ACCOUNTING POLICIES (CONTINUED)**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at hand and any short term investments or cash instruments that are readily available to convert to cash and are subject to an insignificant risk in a change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of day to day operations. Accounts payable are classified as current liabilities at the end of a reporting period if the charity does not have an unconditional right to defer settlement for at least twelve months. If the charity does have the right to defer payment for more than twelve months, the creditor is classified as a non-current liability.
## **Borrowings**
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Then are subsequently carried forward at amortised cost. The interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities if due with twelve months of the reporting date, unless due for settlement beyond twelve months of the reporting date at which point they are classified as non-current liabilities.
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
|**3. Donations and Fundraising**
Gifts & Donations
GIFT AID Donations
Government Grants
Recreational Fee Income
Pre-school
Pre-school independent
Adult Gymnastics
Sales of Merchandise
Hiring out of Leotards & kit
Badges & Certificates income (sold)
**6. Squad fees and competition income**
Squad Fee Income
F&V Squad income
Competition Fee Income
Events & own competition income
**7. Other income**
Holiday Club Fees
Coach course fees
Parties
Hire out of Facility
Other income
Bursaries
**4. Recreational Fees**
**5. Merchandise**|**Total**
**2024**
**£**
1
-
-
**1**
**Total**
**2024**
**£**
186,307
12,264
10,708
6,145
**215,424**
**Total**
**2024**
**£**
5,008
265
83
**5,355**
**Total**
**2023**
96,870
35,190
7,184
7,901
**147,144**
**Total**
**2023**
32,440
340
2,490
3,055
448
-
**38,773**|**Total**
**2023**
**£**
2,586
60
13,000|
|---|---|---|
|||**15,646**|
|||**Total**
**2023**
**£**
161,600
9,763
6,208
4,460|
|||**182,030**|
|||**Total**
**2023**
**£**
5,819
255
926|
|||**7,001**|
|||**Total**
**2023**
**£**
77,385
23,587
7,416
6,136|
|||**114,524**|
|||**Total**
**2023**
**£**
18,442
-
1,325
2,003
561
100|
|||**22,430**|
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
|**Total**
**2024**
**8. Resources expended**
**£**
**Charitable activities**
Coaching and Squad fees
159,340
Other staffing costs
30,881
Building operating costs
139,090
Administration costs
11,263
Equipment costs
0
Other costs
10,458
Depreciation
19,868
**370,899**
**9. Tangible Fixed Assets**
**Buildings**
Cost
At 1st October 2023
84,430
Additions
-
At 30th September 2024
84,430
Depreciation
At 1st October 2023
16,886
Charge for the year
16,886
At 30th September 2024
33,772
Net Book value
At 30th September 2024
50,658
At 1st October 2023
67,544
**Total**
**2024**
**10. Debtors: amounts falling due within one year**
**£**
Trade Debtors
1,168
Rent deposit held by landlord
40,000
**41,168**
**Total**
**2024**
**£**
**11. Creditors: amounts falling due within one year**
Trade creditors
30,770
Deferred income
8,000
**38,770**
**Total**
**2024**
**12. Creditors: amounts falling due after one year**
**£**
Bounce back loan
26,658
**26,658**|**Total**
**2023**
**£**
124,071
24,876
106,658
27,279
720
2,931
19,868
**306,402**
**Gymnastics**
**Equipment**
54,134
-
54,134
42,937
2,982
45,919
8,216
11,198
**Total**
**2023**
**£**
1,855
40,000
**41,855**
**Total**
**2023**
**£**
30,622
-
**30,622**
**Total**
**2023**
**£**
36,464
**36,464**|**Totals**
138,565
-|
|---|---|---|
|||138,565|
|||59,823
19,868|
|||79,691|
||||
|||58,875|
||||
|||78,742|
||||
## **Weald Gymnastics Centre - registered charity number 1194372 Notes to the Financial Statements for the Year ended 30th September 2024**
|**13. Movement in Funds**
**Unrestricted Funds**
General fund
**Restricted Fund**
**Total Funds**|At 1st October
2023
311,604
-
**311,604**|Net change
At 30th
September 2024
in Funds
37,104
348,708
-
-
**37,104**
**348,708**|
|---|---|---|