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2024-08-31-accounts

REGISTERED CHARITY NUMBER: 286732

Report of the Trustees and

Financial Statements

for the Year Ended 31 August 2024

for

The Meapa

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

The Meapa

Contents of the Financial Statements for the year ended 31 August 2024

Page
A note from the Chair and Vice Chair 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 23

The Meapa

A note from the Chair and Vice Chair for the year ended 31 August 2024

We are pleased to present this annual report for the financial year ending 31 August 2024 - a year that marks the first full year under new leadership at the Charity. During this time, we welcomed an expanded group of Trustees and a refreshed Executive Committee, all of whom were new to their roles. This broader leadership group has enabled us to better reflect the diverse voices across our club and strengthen governance overall.

As with any transition, this year has been one of consolidation. The Executive Committee has addressed a number of operational challenges to stabilise both our operating model and financial position. We are proud to report significant progress in both areas, laying a strong foundation for continued growth and evolution.

The vision and ethos for our charity remains one which seeks to bring gymnastics to all levels of our local community, supporting gymnasts of all abilities and ages from the very elite to those starting out on their journey.

We also recognise that change can bring challenges, and we are deeply grateful to our dedicated staff for their resilience and commitment throughout this period of transition. Their willingness to embrace new ways of working has created a positive, supportive, and enjoyable environment for everyone.

Operating across two facilities has required the implementation of consistent and efficient processes, ensuring we uphold the club's family ethos while preparing for sustainable growth. Through close collaboration with Trustees and the Committee, and guided by insights from last year's audit, we have successfully refined our operational systems. We commend our Operations Team for their adaptability and teamwork, which have been central to these improvements.

Finally, we would like to take this opportunity to thank all of the volunteers from across our gymnastics community who have stepped up to help when needed be it event organizing, fundraising or Executive Committee - they do so willingly and in their free time and the value of that cannot be underestimated when operating a charity such as ours.

Paul Priestley Trustee and Chair of Meapa Gymnastics Executive Committee

Lydia Ings Trustee and Vice Chair of Meapa Gymnastics Executive Committee

Page 1

The Meapa

Report of the Trustees for the year ended 31 August 2024

The trustees present their report with the financial statements of the charity for the year ended 31 August 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Our overall purpose as a charity is to organize, provide and assist with the provision of a facility which enables and encourages participation in gymnastics, providing the physical education and development of all participants. Through the specific objectives which form the founding principles of our charity we want to bring gymnastics as a sport to our community through partnerships with schools in both Gravesham and Medway and to do so in a way which reaches far and wide for children and adults of all abilities and need.

In support of our core objectives, we have strengthened our partnerships with local schools providing gymnastics as part of their SEN programme. In addition, we have 11 children attending our additional needs classes and we have a long waiting list for this - showing the demand is there. We also have 21 children attending our Home Education classes.

Our club membership at the beginning of this financial year (1 September 2023) had reached 1588 members across a variety of disciplines and we finished the year with a membership of 1428 a year on year reduction of 10%. This is due to the loss of specialist coaches who have taken some time to replace as well as the impact of the cost of living crisis which led to some families needing to stop their membership. The waiting lists have, however, remained static at nearly 1000 across both sites.

This year saw the first Meapa Annual Awards night for Women's Artistic gymnasts which saw more than 190 attendees with all gymnasts receiving recognition for their achievements. It was a great opportunity for the gymnasts, their families, staff and the Committee members to get together and celebrate the successes of the prior year. Gymnasts awards were given for Gymnast of the Year, Most Improved Gymnast, Resilience Award, Hard Work & Determination, Outstanding Performance, Values Ambassador. As a first of its kind, the decision was made to target a smaller group from the club with a view to expand this in subsequent years to the wider membership.

In the second half of this year, we also introduced a Men's Artistic Gymnastics pathway, providing a route to develop along the Men's route as well as the Women's, driving towards our goals of bringing gymnastics to all. This has started with 13 members ranging from 4-14 hours per week and will grow organically as it will also require investment in new equipment in the gym for the boys to train with whilst balancing space requirements for the core Women's equipment and training.

Page 2

The Meapa

Report of the Trustees for the year ended 31 August 2024

ACHIEVEMENT AND PERFORMANCE

Finally, the club has enjoyed much gymnastics success in the year to 31 August 2024. Not only is this a testament to the coaches and gymnasts who have worked hard to achieve this, but it will ensure the ongoing attraction of quality gymnasts, coaches and investment which in turn allows us to broaden our offering and delivery to the wider community.

For the first time, the Women's Artistic Squad attended the Medway Mile event performing a variety of displays for participants to enjoy. This was a Community, Olympic Games themed event with free sports activities, children's races and food and drink. The club had a "try out" area set up close to the main arena for children to enjoy gymnastics activities and parents to find out class details.

A summary of the successes of the year include:

The Women's Artistic squads are made up of 61 gymnasts across a structured pathway from Mini WA to Performance. This provides a pipeline of gymnasts progressing through their development.

Local, Regional and National Squads:

International Call Up

At the start of this year, our Floor & Vault squads are made up of 66 gymnasts - this has stayed fairly static in numbers with now 37 members in the Senior F&V and 30 in the Junior squad. These gymnasts have taken part in Regional, Kent and Open competitions bringing home over 100 medals with many members achieving qualifying results to move up to higher levels.

Finally - so important to our goals is bringing gymnastics to everyone are our GFA squads. In September 2023, our GFA members had 850 gymnasts which grew to 946 gymnasts by the end of this year (August 2024) with an age range is from 4 through to 17 years old. The classes are continuously monitored and we recommend gymnasts progress through to different disciplines as they progress in their training. This could be to Senior GFA, F&V or Women's Artistic.

Page 3

The Meapa

Report of the Trustees for the year ended 31 August 2024

We love seeing them develop as they learn and enjoy gymnastics - they have participated at all ages in our invitational competitions, with so many of them coming away with medals and special awards. The club has hosted their own competitions as well as invitational through the year. The 2024 Jungle Themed General Gymnastics Competition saw 550 gymnasts (club members) from pre-school through to 15 years old across a range of disciplines including GFA, Free G Development and Trampoline. The Floor & Vault Invitational had a Day of The Dead theme and hosted 470 gymnasts from the surrounding area with everyone throwing themselves into the theme and the club received positive feedback from clubs who attended.

Business Update

The year ending 31 August 2024 has been focused on consolidation.

During COVID, the landlord in Rochester allowed the club to pay rent monthly rather than quarterly in advance however, this was never intended to be a permanent arrangement and it was important to return to a financial position where rent was paid in line with the lease and landlord requirements. By the end of this financial year, the club was in a position to do this, representing a significant achievement in the context of how cashflow and operating expenditure has been managed to meet this goal and providing a solid foundation as we enter the new financial year to build on the business reserves and ensure it remains a going concern.

Such a key part of the focus this year has been on operational delivery and whilst the intent was to recruit a Business Manager to support with this, after two failed recruits into this role, the Committee acted quickly and decisively and instead refocused internally to restructure into an operational team of 3 who work closely together across defined responsibilities.

One key focus area has been the policies and procedures for all staff and new starters and having engaged external consultants to support with Health & Safety advice, a full review has been undertaken of our risk

FINANCIAL REVIEW

Income

Turnover has seen an overall increase of 11% year on year which is largely due to a 10% increase in fees and membership. Looking at this over the past 3 years in a post pandemic era, income from Fees and Membership has increased 34% and year on year we have seen a 6% increase in External Gym hire, taking this to 8% of total turnover.

The organization of open competitions provides one off opportunities both for income and fundraising and as contributed nearly £8k in income during the year to 31 August 2024. Reporting on this going forward will be easier and provide informed analysis on which planning and decision making can be based.

Expenditure

Whilst last year saw cleaning costs rise significantly, with new cleaners now in place, the costs have settled and show a reduction of 7% year on year. However, the impact of energy costs and lack of cap for business has seen a 79% year on year increase in electricity cost when the fixed rate from our provider expired. Staff costs have increased 22% this year due to the standardisation of contracts and pay for regular coaches who were paid as freelance coaches, which has attributed to the 38% increase in average staff numbers this year. Coaching fees have decreased by 15% as part of this exercise. Staff costs are the clubs largest expense, and directly contribute to the increased offering to our gymnasts.

There has been a significant increase in computer and software costs through this year due to the need to access subscriptions which had not been payable previously. Whilst this has been an increased cost, it is also a requirement to ensure that the data held about the charity is held in the Charity's name - the data held by the previous incumbents was on systems that we were unable to access and had to be transferred

Page 4

The Meapa

Report of the Trustees for the year ended 31 August 2024

Excess Expenditure

Excess Expenditure over Income this year was £14,971. A further improvement on last year's Excess Expenditure of £35,614, and that of £108,638 year ended 31st August 2022. This has been largely due to an increase in Income of £116,014 on last year, and the cessation of Property depreciation previously charged on Gravesend of £80,000 per annum.

Bank Funds

Cash held in the Bank accounts was £26,712 as of 31st August 2024. This is an improvement on last year's balance of £5,588, which was due to the refurbishment, and is now complete. Funds had previously been built up to £104,200 in 2021 to pay for the refurbishment project. The bank balance now is for the general running of the club.

Reference and Administrative Details

Throughout this year as we have worked through operational systems and processes we have had to double pay for a number of systems such as Sage and Xero and Google and Microsoft. As these transitions complete, this will not only reduce cost but will also reduce any duplication of work.

Welfare

The safeguarding and welfare of all those who attend The Meapa is a core priority and everyone has a responsibility to ensure that we create a safe environment for all. Our Welfare team headed up by one of our Trustees has grown and evolved this year with clarity of approach to deal with different situations and a wider team. We have built strong relationships with both Regional and National welfare officers from British Gymnastics which provides guidance and advice on different situations as they arise. Where needed, Trustees will meet and discuss any welfare issues and follow due process of reporting as appropriate.

The focus of the Welfare Team is to foster and create an environment where all gymnasts have a voice and they feel safe to use that voice, helping them to resolve common every day challenges as well as escalating to a more formal approach when needed, liaising with parents, carers, coaches and gymnasts to ensure a full picture is established and everyone feels comfortable and safe.

Looking Ahead

After a year of consolidation and rebuilding, the club enters a new financial year in a much stronger position both financially and operationally. The impact of change filters throughout the club and if staff are feeling settled and happier then this follows through to the gymnasts in their training.

This year ahead will see us continue to build on this as the terms of office for many of the committee will come to an end, we will need to ensure succession plans are in place to provide continuity of leadership and minimal disruption to what has been achieved since taking office.

As a club, we will continue to build on our provision of gymnastics to our local community, with as much focus on the those starting out as those at elite level. We will be focusing our attention on:

Having got the basics consolidated and efficient we now have a strong foundation from which we will continue to build and grow.

Page 5

The Meapa

Report of the Trustees for the year ended 31 August 2024

And Finally

It would be remiss of us not to acknowledge the extraordinary amount of time given by everyone at the club both staff and volunteers. A club such as ours relies on goodwill and discretionary effort from everyone and we couldn't have achieved the progress we have over the past year without that willingness and we thank everyone for their contributions, however big or small.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a registered charity governed by its Constitution and operating within the best practice and guidance from the UK Charity Commission. The Board of Trustees is responsible for the overall governance and strategic direction of the Charity and they sit as part of a wider Executive Committee who meet regularly to review the charity's operations, ensure compliance and oversee the effective delivery of the charitable activities.

Day to day operations are delegated to the Director of Coaching and the Operations team who work closely with the Chair, Vice Chair, Secretary and Treasurer on operational delivery matters and they in turn report to the wider Executive Committee on progress towards key strategic objectives, financial performance, risk management and other operational delivery.

The club currently has 1428 members and operates across two facilities, in Gravesend and Rochester. Throughout the year, an average core coaching and operations team of 25 is supported by freelance and specialist coaches. The Meapa benefits from a core group of highly skilled and dedicated coaches who are deeply passionate about the sport. However, meeting the coaching needs of a growing club remains a challenge. The available talent pool is limited, and the transient nature of coaching-often influenced by career progression and life changes-adds to the difficulty. To address this, the club has adopted a dual approach: targeted external recruitment and the development of its own Leadership Academy. This initiative nurtures young talent and provides a clear pathway for retiring gymnasts who wish to remain involved in the sport.

Since the first audit last year, the club has implemented improved governance around spend, expenses and its approaches to reward for staff time spent at competition which has provided greater transparency and consistency across the club.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 286732

Principal address

The Meapa Unit B5 Saxon Place Rochester ME2 2NW

Trustees

J Sumner (resigned 30.11.23) Ms S Baker (resigned 31.1.24) P Priestly Ms L Ings (appointed 16.1.24) Ms D Millen (appointed 16.1.24) Ms T Chiverton (appointed 31.1.24) L A Terry (appointed 25.5.24)

Auditors

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

Page 6

The Meapa

Report of the Trustees for the year ended 31 August 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by:

Paul Priestley Lydia Ings Donna Millen Chair Vice Chair Secretary

Tarah Chiverton Leigh Terry Head of Welfare Treasurer

Page 7

Report of the Independent Auditors to the Trustees of The Meapa

Opinion

We have audited the financial statements of The Meapa (the 'charity') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 8

Report of the Independent Auditors to the Trustees of The Meapa

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws an regulations, including fraud. We designed audit procedures to respond to the risk recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to material misstatement in the financial statements, including, but not limited to, the Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above, and the further removed non - compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relation to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 9

Report of the Independent Auditors to the Trustees of The Meapa

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

Date: 25 July 2025

Page 10

The Meapa

Statement of Financial Activities for the year ended 31 August 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Charitable activities
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable activities
Employee costs
General administrative expenses
Legal and professional costs
Interest payable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
fund
£
1,498
1,185,219
498
106
1,187,321
53,575
683,496
45,488
53,686
24,315
-
341,733
1,202,293
(14,972)
512,940
497,968		 2023
Total
funds
£
920
1,064,982
175
-
1,066,077
26,895
592,271
72,093
49,042
8,087
203
353,099
1,101,690
(35,613)
548,553
512,940

The notes form part of these financial statements

Page 11

The Meapa

Balance Sheet 31 August 2024

2024
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
124,183
CURRENT ASSETS
Debtors
12
391,680
Cash at bank
26,712
418,392
CREDITORS
Amounts falling due within one year
13
(36,181)
NET CURRENT ASSETS
382,211
TOTAL ASSETS LESS CURRENT
LIABILITIES
506,394
CREDITORS
Amounts falling due after more than one year
14
(8,426)
NET ASSETS
497,968		 2023
Total
funds
£
148,597
402,042
5,589
407,631
(34,862)
372,769
521,366
(8,426)
512,940

The notes form part of these financial statements

continued...

Page 12

The Meapa

Balance Sheet - continued 31 August 2024

FUNDS
16
Unrestricted funds
TOTAL FUNDS		 497,968
497,968		 512,940
512,940

The financial statements were approved by the Board of Trustees and authorised for issue on 23 June 2025 and were signed on its behalf by:

............................................. P Priestly - Trustee

............................................. L Ings - Trustee

............................................. D Millen - Trustee

............................................. T Chiverton - Trustee ............................................. L A Terry - Trustee

The notes form part of these financial statements

Page 13

The Meapa

Cash Flow Statement for the year ended 31 August 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2024
£
27,888
27,888
(7,763)
500
498
(6,765)
-
-
21,123
5,589
26,712		 2023
£
51,051
51,051
(123,000)
-
175
(122,825)
(3,140)
(3,140)
(74,914)
80,503
5,589

The notes form part of these financial statements

Page 14

The Meapa

Notes to the Cash Flow Statement for the year ended 31 August 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Decrease in debtors
Increase in creditors
Net cash provided by operations		 2024
£
(14,972)
31,782
(106)
(498)
10,363
1,319
27,888		 2023
£
(35,613)
25,952
-
(175)
42,107
18,780
51,051

2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.9.23
Cash flow
At
£
£
Net cash
Cash at bank
5,589
21,123
5,589
21,123
Debt
Debts falling due after 1 year
(8,426)
-
(8,426)
-
Total
(2,837)
21,123		 31.8.24
£
26,712
26,712
(8,426)
(8,426)
18,286

The notes form part of these financial statements

Page 15

The Meapa

Notes to the Financial Statements for the year ended 31 August 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Property Improvements 15% Straight line Equipment over 5 years Furniture & Fixtures over 5 years

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Short term debtors ae measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

continued...

Page 16

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2. DONATIONS AND LEGACIES

3.

4.

Donations
INVESTMENT INCOME
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fees/Memberships
Charitable activities
Fund Generation
Charitable activities
Sale of Merchandise
Charitable activities
Other Income
Charitable activities
Gym Hire
Charitable activities
Sponsorship
Charitable activities
Events Income
Charitable activities
Competition entry fees
Charitable activities		 2024
£
1,498
2024
£
498
2024
£
1,030,983
3,005
28,003
-
97,985
4,800
7,739
12,704
1,185,219		 2023
£
920
2023
£
175
2023
£
934,286
14,809
22,898
400
92,589
-
-
-
1,064,982

continued...

Page 17

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

5. RAISING FUNDS

Raising donations and legacies

Fundraising expenses
Events expenditure
Merchant services		 2024
£
9,652
10,350
33,573
53,575		 2023
£
26,895
-
-
26,895

6. CHARITABLE ACTIVITIES COSTS

Charitable activities
Employee costs
General administrative expenses
Legal and professional costs
SUPPORT COSTS
Management
£
Employee costs
45,382
General administrative
expenses
21,147
Legal and professional costs
-
66,529		 Finance
£
-
757
-
757		 Support
Direct
costs (see
Costs
note 7)
£
£
683,496
-
-
45,488
-
53,686
-
24,315
683,496
123,489
Governance
Other
costs
£
£
-
106
31,782
-
-
24,315
31,782
24,421		 Totals
£
683,496
45,488
53,686
24,315
806,985
Totals
£
45,488
53,686
24,315
123,489

7. SUPPORT COSTS

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.

continued...

Page 18

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

9.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Employee costs
General administrative expenses
Legal and professional costs
Interest payable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward		 2024
£
498,831
35,000
8,116
541,947
2024
25		 2023
£
409,102
21,429
6,821
437,352
2023
19
Unrestricted
fund
£
920
1,064,982
175
1,066,077
26,895
592,271
72,093
49,042
8,087
203
353,099
1,101,690
(35,613)
548,553

continued...

Page 19

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

TOTAL FUNDS CARRIED FORWARD
11.
TANGIBLE FIXED ASSETS
Improvements
to
property
£
COST
At 1 September 2023
539,681
Additions
-
Disposals
-
At 31 August 2024
539,681
DEPRECIATION
At 1 September 2023
422,494
Charge for year
20,952
Eliminated on disposal
-
At 31 August 2024
443,446
NET BOOK VALUE
At 31 August 2024
96,235
At 31 August 2023
117,187
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Accrued income
Prepayments		 Plant and
machinery
£
57,747
7,307
(500)
64,554
39,901
7,372
(106)
47,167
17,387
17,846		 Fixtures
and
fittings
£
17,069
456
-
17,525
3,505
3,459
-
6,964
10,561
13,564
2024
£
3,210
363,537
5,721
19,212
391,680		 Unrestricted
fund
£
512,940
Totals
£
614,497
7,763
(500)
621,760
465,900
31,783
(106)
497,577
124,183
148,597
2023
£
1,620
320,211
5,473
74,738
402,042

continued...

Page 20

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Trade creditors
8,428
Taxation and social security
7,158
Other creditors
20,595
36,181
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Other creditors
8,426
15.
LOANS
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due between two and five years:
Other loans - 2-5 years
8,426
16.
MOVEMENT IN FUNDS
Net
movement
At 1.9.23
in funds
£
£
Unrestricted funds
General fund
512,940
(14,972)
TOTAL FUNDS
512,940
(14,972)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,187,321
(1,202,293)
TOTAL FUNDS
1,187,321
(1,202,293)

continued...

Page 21

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.9.22
£
Unrestricted funds
General fund
548,553
TOTAL FUNDS
548,553
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,066,077
TOTAL FUNDS
1,066,077		 Net
movement
in funds
£
(35,613)
(35,613)
Resources
expended
£
(1,101,690)
(1,101,690)		 At
31.8.23
£
512,940
512,940
Movement
in funds
£
(35,613)
(35,613)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.22
£
548,553
548,553		 Net
movement
in funds
£
(50,585)
(50,585)		 At
31.8.24
£
497,968
497,968

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
2,253,398
2,253,398		 Resources
expended
£
(2,303,983)
(2,303,983)		 Movement
in funds
£
(50,585)
(50,585)

continued...

Page 22

The Meapa

Notes to the Financial Statements - continued for the year ended 31 August 2024

17. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other debtors, was the amount of £288,238 (2023: £320,211) due from Meapa Gymnastics Ltd, also, included in other current debtors was the amount of £75,299 due from Meapa Gymnastics Ltd . Meapa Gymnastics Ltd is a company limited by guarantee, with no shareholders. The company was set up by the trustees to facilitate the leasehold of the second property; Unit 5/6, Saxon Place, Rochester.

This page does not form part of the statutory financial statements

Page 23