2025-08-25-accounts

Spearhead Barbell Trustees’ Annual Report and Accounts for Years 2024-2025

Charity Number - 1195637 Company Number - CE026540

SPEARHEAD BARBELL

Contents

Page 2 Legal & Administrative Information Pages 4 - 7 Trustee’s Report Page 8 Statement of Financial Activities Page 9 Balance Sheet Pages 10-15 Notes to the Accounts

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SPEARHEAD BARBELL

Legal & Administrative Information

Spearhead Barbell

Trustees’ Annual Report and Accounts for Years 2024-2025

The Trustees present their annual report and financial statements for the for financial year ending 25 August 2025.

Reference and Administrative Information

Charity Name: Spearhead Barbell

Charity registration number: 1195637

Company registration number: CE026540

Legal Status - CIO - FOUNDATION Registered 26 Aug 2021

Financial Year Start - 26 Aug 2024

Financial Year End - 25 August 2025

Registered & Correspondence Address:

4 Hickin Street London E14 3LW

Trustees on 25[th] August 2025:

Mr D Peden Mrs Y Zhang Mrs D Peden Mr J Peden

The existing trustees appoint any new trustees following the provisions of the CIO's governing instrument.

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SPEARHEAD BARBELL

TRUSTEES REPORT

Introduction

The Trustees present their report and financial statement for the period ending 25 August 2025.

This report is presented in accordance with the Charities SORP (FRS 102) issued in July 2014 and Update Bulletin 1 issued in February 2016. The financial statements have been prepared in accordance with the accounting policies set out on page 6 and comply with the Charity's Constitution.

The Charity is a Charitable Incorporated Organisation (CIO) governed according to the Constitution registered on 26 Aug 2021. The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and apply them consistently.

• Observe the methods and principles in the Charities SORP 2005.

• Make judgments and accounting estimates that are reasonable and prudent.

• Departures disclosed and explained in the financial statements.

• Prepare the financial statements on the going concern basis unless it is inappropriate to do so.

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Objectives and Activities

Purposes of the CIO:

1. the promotion of community participation in healthy recreation in Tower Hamlets, London in particular by the provision of facilities for participating in the sport of amateur Olympic weightlifting. i. For the purposes of this clause “facilities” means land, buildings, equipment, access to coaching and organising sporting activities.

Main Activities

The majority of the CIO’s activities are concerned with providing facilities to our members to participate in the sport of Olympic weightlifting.

Policy on Grant Making

The CIO does not make grants. Some travel expenses are reimbursed for coaches & members who compete in primary strength sports competitions, sanctioned by the relevant NGBs.

Policy on Social Investment

The CIO does not make social investments.

Contribution made by Volunteers

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SPEARHEAD BARBELL

The CIO benefits from well-qualified volunteer coaches to help with our activities. Thanks to their efforts during this period, by attaining the relevant training qualifications, the CIO is now and an affiliated member club of British Weightlifting (BWL) and the British Drug-Free Powerlifting Association (BDFPA). We also rely on volunteers for all management and administration functions

Achievements and Performance

Spearhead Barbell remain committed to our members and our local community. Our approach to in-person coaching, community outreach and collective training continues to serve our membership and the people of Tower Hamlets by providing support, coaching and training to all, regardless of their circumstances. Our team has continued to succeed in 24/25, giving athletes living and working in the local area access to the tools they need to pursue a healthier lifestyle through weightlifting.

We continue to provide coaching services to members training across a range of local venues and settings, ensuring that we are able to achieve our purpose as outlined in our governing document; promotion of community participation in healthy recreation in Tower Hamlets, London, in particular by the provision of facilities for participating in the sport of amateur Olympic weightlifting.

Our club is open to all adults in the local area, willing and able to invest time in their health, as such the skill level of our membership is quite diverse and extremely varied in skill level. Competition is a key part of the top level of our sport, and in 24/25 our model has allowed us to support athletes to represent our club at competitions across the UK and internationally, including at Masters level. We hope to be able to support our top athletes with their ambitions to represent their countries in the future, however we can never lose sight of the wider purposes of improving health and access to sport to our local community. As such we ask all our top athletes to give their time to help support and train all those who want to learn, regardless of ability.

Thanks to the continued support of our founders and members, the club has further invested in sports equipment and facilities during 24/25, meaning we are better placed than ever to meet the demands of the local community in the coming years. In order to continue to serve our members and the community in the future, it is our ambition to secure physical premises of our own, wholly owned and run by the club, at some point in the future. This ambition will require a decade long commitment by the club as we look to do so while continuing to provide service to the community; the trustees however remain confident that this can be done and that a long run sustainable financial balance can be achieved.

Financial Review

Position at End of Financial Year

The results for the year and financial position are set out in the Profit and Loss Account on page 8 and the Balance Sheet on page 9 of the accounts provided.

• Total incoming resources were £21,502

• Resources expended were £1,906

• The Net Funds Carried Forward for this year was £66,260

Reserves

Brief Statement of the CIO's Policy on Reserves

The Trustees review the policy on reserves and set targets at least once per annum with reference to the guidance and terminology published by the Charity Commission. The policy is also reviewed, when warranted by changes in risk assessment or business plans. The review includes unrestricted funds, designated funds and tangible fixed assets. Transfers to and from funds are authorised by the Trustees acting as a whole.

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SPEARHEAD BARBELL

Such reserves as we hold are principally concerned with the CIO's ability to maintain those facilities we provide to our members, in order to meet the charity’s goals.

The Trustees have agreed that we should look to build a General Reserves in order to expand our services in the future; the primary aim of which will be to secure our own physical premises, a gym, in the local areas from which to operate. It is also unanimously agreed that by the trustees that building our general reserve in order to expand the services we can offer in future, should and will never come at the expense of our existing membership. The General Reserve is that part of unrestricted funds that are freely available to spend, i.e. excluding designated funds and tangible fixed assets.

Funding Sources

Grants and Donations

The CIO is currently not in receipt of any grants. Equipment and Funds have been donated throughout the year from our trustees, this is our principal source of operating income.

Income from Charitable Trading

Members who choose to make use of the CIO’s training facilities pay a monthly training fee of £1

Employees

The CIO has no employees. The majority of coaching is provided by suitably qualified members on a volunteer basis. The CIO does not make use of suitably qualified independent subcontractors (which is conventional practice in the fitness industry). All management and administration functions are provided by volunteer members.

Principal Risks

The CIO’s ability to provide services is heavily limited by the capacity of our volunteers to provide their support outside of their day jobs. The risk here would be that excessive demand would put a strain on the CIO’s ability to provide services to the local membership, which may expose the CIO to reputational risks and impact our long run sustainability.

As the CIO does not maintain physical premises or employees at this time, however there are limited economic risks to the CIO’s ongoing viability.

Accounting Policies

The accounts provided have been prepared in accordance with

• UK Generally Accepted Accounting Practice

• The Charities SORP (FRS 102) (July 2014) and Update Bulletin 1 (February 2016)

• The Charities Act 2011

The CIO was registered on 25 August 2021. Assets, liabilities and funds were transferred.

Material Future Commitments

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SPEARHEAD BARBELL

The Trustees have no material future commitments as at 25 August 2025 other than those shown in the accounts.

Structure, Governance and Management

Spearhead Barbell is constituted as a CIO on the Association Model. The governing document is registered with the Charity Commission and is also available directly from the Club.

The affairs of the CIO are managed by the Charity Trustees. There must be at least 3 and not more than 12 Trustees. Trustees are selected by election to a 3-year term. All members of the CIO are eligible to vote on Trustees. The Members or Trustees may appoint new Trustees at any time provided that new Trustees appointed by Trustees must retire (and may be re-appointed) at the next AGM.

Decisions are made by simple majority of votes at a meeting of Trustees or by resolution made in writing or in electronic form and agreed by all Trustees.

Induction of Trustees is overseen by the Secretary.

Reference and Administrative Details

The CIO’s full name is Spearhead Barbell. The Charity registration number is 1195637

Principal Contact:

Daniel Peden

4 Hickin Street

London

E14 3LW

Trustees on 25th August 20254:

Mr D Peden

Mrs Y Zhang

Mrs D Peden

Mr J Peden

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SPEARHEAD BARBELL

Statement of Financial Activities

Notes	Unrestricted Funds Restricted Funds Total 2025
	£ £ £
Incoming Resources From
Donations, Legacies & Similar Income 3a	£21,502 £0 £21,502
Other Trading Activities 3b	£1149 £0 £1149
Total Incoming Resources	£22,651 £0 £22,651
Resources Expended From
Costs of Charitable Activities 4a	£1,906 £0 £1,906
Governance Costs 4b	£0 £0 £0
Total Resources Expended	£1,906 £0 £1,906
Net Incoming (Outgoing) Resources	£20,745 £0 £20,745
Funds Brought Forward	£0 £0 £0
Total Funds Carried Forward	£20,745 £0 £20,745

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SPEARHEAD BARBELL

Balance Sheet

Notes	Unrestricted Funds Restricted Funds	Total 2025
	£ £	£
Fixed Assets
Tangible Assets 2	£12,142 £0	£12,142
Investments 6	£0 £0	£0
Total Fixed Assets	£12,142 £0	£12,142
Current Assets
Debtors & Prepayments 8	£0 £0	£0
Cash at the Bank and in Hand 7	£66,260 £0	£66,260
Total Current Assets	£66,260 £0	£66,260
Creditors: amounts falling due within one year 9	£0 £0	£0
Net Current Assets	£66,260 £0	£66,260
Total Assetsless current liabilities	£78,402 £0	£78,402
Creditors: amounts falling due in more than one year 10	£0 £0	£0
Net Assets	£78,402 £0.00	£78,402
Funds of the Charity
General Fund	£66,260 £0	£66,260
Restricted Funds	£0 £0	£0
Total Funds	£66,260 £0.00	£66,260

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SPEARHEAD BARBELL

Notes to the Accounts for the Year Ended 25[th] August 2022

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation:

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The CIO meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the CIO's ability to continue as a going concern.

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

• The charity becomes entitled to the resources.

• The trustees are virtually certain they will receive the resources.

• The monetary value can be measured with sufficient reliability.

Incoming Resources with Related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the CIO or the amount actually realised.

Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the CIO.

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Gifts in kind for use by the CIO are included in the SOFA as income receivable.

Notes to the Accounts (continued) for the Year Ended 25[th] August 2025

1. Accounting Policies (continued)

Volunteer Help

The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the CIO is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the CIO of the service or facility received.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the CIO to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the CIO gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the CIO.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Unrestricted funds

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These funds can be used for the general objectives of the charity as set out in the trustees’ report. The movements of the unrestricted funds are given in the Statement of Financial Activities.

Restricted funds

These funds are where the donor has specified a purpose for the donation made.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:

Fixtures, Fittings & Equipment 25% - Reducing Balance Basis +	Fixtures, Fittings & Equipment 25% - Reducing Balance Basis +
2. Tangible Fixed Assets
	Unrestricted Funds Restricted Funds Total 2023
	£ £ £
Fixtures, Fittings & Equipment
Opening balance	£15,169 £0 £15,169
Additions in year	£1,020 £0 £1,020
Charge for the year (Depreciation 25%)	£4,047 £0 £4,047
	£12,142 £0 £12,142
3. Incoming Resources
	Unrestricted Funds Restricted Funds Total 2023
	£ £ £
a) Donations, Legacies & Similar Income
Donations and legacies	£21,502 £0 £21,502
b) Charitable Activities
Interest	£1101 £0 £1101
Membership & Training Fees	£48 £0 £48
	£22,651 £0 £22,651

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SPEARHEAD BARBELL

4. Resources Expended

	4. Resources Expended
		Unrestricted Funds Restricted Funds Total 2025
		£ £ £
	a) Costs of Charitable Activities
	Competition Costs	£979 £0 £979
	Equipment Costs	£0 £0 £0
	Licenses & Subscriptions	£0 £0 £0
	Merchandising Costs	£0 £0 £0
	Printing, Postage & Stationery	£3 £0 £3
	Repairs & Maintenance	£0 £0 £0
	Sub-Contractor Costs	£0 £0 £0
	Sundry Expenses	£0 £0 £0
	Telephone & Internet	£304 £0 £304
	Travel & Subsistence	£576 £0 £576
	Volunteer Training Costs	£44 £0 £44
	Insurance	£0 £0 £0
		£1,906 £0 £1,906
	b) Governance Costs
	Banking & Accountancy Fees	£0 £0 £0
		£0 £0 £0

5. Restricted Funds

The CIO held no restricted funds during this financial period.

6. Investments

The CIO held no fixed assets investments during this financial period.

7. Cash At The Bank And In Hand

	7. Cash At The Bank And In Hand
			Unrestricted Funds		Restricted Funds		Total 2024	Total 2025
			£		£		£	£
	Current Account - Natwest		£5,855		£0		£45,840	£5,855
	Savings Account - Natwest		£60,307		£0		£0	£60,307
	Cash		£98		£0		£1,041	£98
			£66,260		£0.00		£45,840	£66,260

8. Debtors and Prepayments

The CIO held no debtors during this financial period

9. Creditors and Accruals Amounts Falling Due Within One Year

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SPEARHEAD BARBELL

The CIO held no relevant liabilities during this financial period.

10. Creditors and Accruals Amounts Falling Due In More Than One Year

The CIO held no long-term liabilities during this financial period.

11. STAFF COSTS AND NUMBERS

The CIO employed no members of staff during this or the previous financial period.

12. Trustees and Other Related Parties

No payments were made to trustees, or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee, or any person connected with them

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