REI GISTERED ColANy NUMJIER: SC250221 (S¢otl2t)d) REGISTERED CHARITY NUMBER.. SC034466 ort of the Trustees and Audited Financial State forthe Year Ended 31 Janua 2025 Dundee G astics Club 2 Murray Dalgety C.A. (Senior statOry Auditor) BK Plus Audit Limited. btatutory Auditor Chartered Certified Accounlanls 144 Nethergate Dundee DDI 4EB
Dun(ke G 2Sti Contents ofthe Financia for the Year Ended 3 21f25 Page Cha'S Report Rewt of the Trustees Statement of Tnees, Responsibilities 10 Report of the Jndependent Auditors 11 to 14 St8tement of Fiuaucial Activities 15 Bakllce Sheet 16 to 17 Cash Flow Stat6ttLent 18 Notes to the Cash Flow Stat£1 19 Ntsts5 to tbe Fingncial Statements 20 to 30 Detailed Stateent oFFinanci81 Activities 31 to 32
Dun(ke G naStic% Club 2K Ch&imian's R ort foi. tht YearEnaed 31 Janu 2025 Wgre a charity, registtred with OSCR the Sc(Xtish Charily Register and we lodue our accounis with them every year and our Ditectors Jneet the OSCR standards. A charity meaus that we are run foi. the benefit of the Ellembers and any opei?lional surplus is fed Straight back into the club. We're a150 a Company Limited by Guarantee. and our accounts and directors ale all registered with Compallies House. We're a Private, independent organisation viith no external funding- no Government or Council fimding. We're affiliated to Scottish Gymnastics and follow all Scottish Gymnastics Codes and Guidance. YO membership of Scottish Gymn8stics provides the lllsurance for the club. and a150 allows th¢ gymtS to enter Scottish Gymnastics competitions, all oiw PVGS and safegarding is dorte througb Scottish Gymnastics. The DireCtS cany out theEr dire¢tors' duties unpaid, how¢v¢r, they Call be paid as coa¢he% or forother services to the Club. It seems lll(e a long ttine agcTr now but the new &54n only opened in Decembei. 2023, 50 we have had our f]rst full year opeTating with the enlarged Brown Street space in addition to our usage of The McTaggart. The new g)ryn has a]most doubled the aEllOUnt of gym space at Brown Stre£t. This hag allowed us to reduce our t]sage of the McTa8gart a bit. £52,990 to Jan 2025 down from £61,840 to Jan 2024. We have also been able to let the Brown Street Gym to other users. Tribe Cheerle&ders, the University Cheerleaders and the univety Gymnasts paid a total of £14,585.87 to Jan 2025 up from £2,960 to Jan 2024. Total aumber of gy]ymasts Jan 2025 was 788 up fiom 751 in Jall 2024, gn increase of 37. This is made up of 122 (101 in 2024) Performance Gymnasts training at Brown Street and the MGTagsa¢ 117 (121 in 2024) toddlers and prehOOler$ at Brown Street and 549 {529 in 2024) Club GYllasts at Bioivn Street. We are curraEtly paying 33 people., l adtnin and 32 Coaches including 5 helpers yet to (b their level I course5. Also our much valued volunteers- Ckn'is Wylie (helper ill the gym) and Ainsley Swindells (safegu.dig OIYi¢er}. Page I
Dundee G tics Club 2K Re rt of tlie Trustees for the Year Ended31 Ja 2025 The board oftrllstees present their awiual report with the fman¢ial slatemeuts of the CoPanY forthe year ended 31 January 2025. The aceoun15 have been prepared in accordallce with the &Gcounting wlicies Set out in note I to the aLLuuots And comply with the Chanty's Articles of Association. tbe compani Act 2006, the Charities an(( Trustee JnVest¢llt {Scotland) Act 2005, tbe Chariti&s Accounts (S¢otland) Regulations 2006 (95 amended) alld the 'Accounttiig and Reportillg by Charities.. Stsremcnt of Recommended Practice applicable to charities preparing their accounts accordallce with the Flljaneial Reporting Standgrd applicable the UK and Republic of Iteland (FRS 1021 {effective l Janukry 2019),. oBJ£VEs AND AcrivirIFs ObjeLtive$ aims The charitable purposes are the advancemcnt of education, advancement ot. healtb, and advanLement of public partiGiP21ion in sport. Activities include strllctured gymn&%tic ooa¢hing, Tecreational classes, pfflfoThIct training, camps, 8ad con]mun2ty prOgmme5. The Trustees confirm they have bad regard to OSCR'S guidance on public benefit. The Club provides public benefit by offering incliisive gynll)astics opportunities, promotingphysical weltbeing, confidence, and participation sport. Page 2
Dundee G astios Club 2K ort of the Tn]stees for the Year Ended 31 Janua 2025 OBJECTfvES AND ACllVITIES ReViV of business 2024 was a year witb somt exciting opportunities for all Dur gynuiasts. Early in the ye&r we held our first Club Competition for all our i'ecreational gyn]nasts whi¢h was very well attended 2nd gave us such good feedback that we decided to make this att annuaI event for our members. This was followed by the intr(Kiuction of QUF own award scheme for our recreational classes, Thank YO Louise Carson aad all the coaches who kept feeding in ordei. to make it ItLe best award scheme possiblel We impleinented it for the fst tim¢ in auttillml. Hundd$ of cbildren received their aWd certificates and fridge whilst the pairnts were in tILe gym to watch. We atso introdueed can)ps for our youngest i'ecrealioRal gymnasts (enty) as well as Floor and Vault gymnasts du27ng the sutnmer holidays. Both CaP$ were well attended and the ciuldren seemed to enjoy this opportunity very much. Thss year we are going to build on this positive experience and offer camp5 for 211 the age wups. My thanks goes to Louise Carso Trlatalie Young and Fiona Blakeman. At Easter time we ran an intemational catnp for the perforJnanc¢ girls at Brown Street. The visiting clubs from arollThd Hamburg in Gerniany had an amazing time togetkner with our own gymllasts. During the Smmer holidays we went on a rettll visit to meet up in Vilx)rg, Denmark. 20 of our gjqnnasts took part in this camp which was org8nised over 2 weeks to ensure that we collld include everyiK)dy. Wollkens Artisti¢ G)qnnasiics Results All ow wls passed the adl And some ofthem even med8]led.. Preparation Grade I Alice Walker won silver floor alld bronze on bars Mia Pety won thc vaultl Gold! Development Gradc 2 Olivia Bulgarelli won the bronze rnedal all aroundl Yess AryL Mitchell was 2nd &M and 3rd range Dcveloprnent Grade 4 Sophie Clarke fAune 3rd vault Millie Anderson won silver on bealn with Suzatllia Wyli¢ securing the bronze medal on beam in tbe same ¢ompetition. One age Eroup above Ev¢Falconer Sured 3rd place all around, came 3rd on beam and won gold on floor. Wowl PerfUrnCe GTade I Naomi Cicho¢ka won bronze on both Vdult and b223. Her result had 116r selected to compete for Sctstland at the British Fina18 for this Grade. Here She 5nShed it again on bars where she had the ihird higbest score in the ¢ompetitÉon! Wesi Lothiall knvitational In FIG Aspire {12113 year olds) Jessica Banks won silver all atound and added 2nd on vault, 3rd on bo and beat. Hannah Robertson came 3rd vault Evie Duguid was 3rd all around as well as 2nd kn's and 3rd floor In FIG Junior (14115 years) Maisie MackEnzie won silver on vault and bronze on both baTS and tE2m. Sophie Naistnith came 3rd floor Orla CunniDEham came 3Td un floor in her category. Celebration of Life Invitational Evie Walkw won the Yault. Gold Page 3
Dlludee G astics Club 2K ort of the Tnjstees for rhe Year Ended 31 Jan 2025 OBJECTIVES AND AcfivTrIKs Milana Drabych came 3rd vault and floor June Jolly Invitational in Hamilto Ill the FIG Junior category Orla Stirton woll gold all aroLmd with a massive 44.8 and aed 1st on bars, kajn attd floor as well as 2nd vault. Amaztng. Evie Duguid and ch.la Cunninghaln also won the bars in thell'respective category and Sarah Air came 2nd vault. S¢ottish Bronze Silver Gold Classics Orla C]lghaM mcdalled once again, thi5 lime bronze on beam. Scottish Copper Cla5SiCS Ivy A¢k]d won bEivei' iu the all aiDund &% well as 2nd beam and flwr. Outstanding. Scottish Zirnc Classlcs Zoey Mad(enzie came 2nd on tloorwitb her beautiful routin¢. Milana won the bronzc medal on beam. It's beell another good year for our gymDasts. Mally more placed in the top ten and just missed out medals. The final highlight was thRt 3 of our talented hayl working 10/1 l year olds were selecÈEd to the S¢otti5h Development Perfornjance Progamme.. H&ipei Liu, Ivy Acldand and Rowan McKinney. cOgratulatiOnS to the girls at]d their coachesl The TumbKas' results 23rd November2024 scottish Ch&Dpionships Club Level 5 8yr Orla Mokeogh 4th Place Club Level 5 9-IOyi Lewis Beattie 1st Place Club Level 5 11-12yr Ella Moan 6thPlace Club Level 6 9-IOyr BllaBIDice 1st Place Regional 4 15+5r Alyvia Bruce 2nd Place Fig I1-12yr Evie Ross 4th Place Fig 15-16)r Katie Robb 3id Place FIE 17-21 Hannab Moss 1st Place 31st August 2024 E8StKilbrid¢ vItatIonaL Club Level 3 7-8)T Eleora Bayela 2nd Place Club Level 5 I1-12yrKe] Madill 3rd Place Club Level 5 11-12yr Ella Moall 5th Place Club Level 5 9-IOyr Luca Stevenson 1st Place Club LLvel 5 9-IOyr Millie Houston 1st Place 6th-7tbJuly 2024 British Regional Team Final Regional 4 15+yr Hannah Moss 3rd Place Regional 2 13-14yrFreddie Lothian 6th Place 12tb May 2024 TubIll Club Grades Scottith Ope Club Level 3 8yr Orla MckeoBh 4th Place Cliib Level 3 9-IOyr Lewis Beattie 1st Place Club Level 3 9. Ioyr Finn Madill 2nd Place Club Level 4 11-12yr Keira Madill 3rd Place Club Level 5 11-12yr EILa Moan 4th Place Club Level 3 9-IOyr Catli Toner 1st Place 7th April 2.024 kegional Qualifier Regional 4 15+yr Hannah Moss 2nd Place R6gional 2 13-14yr Freddie Lotbian 2nd Place Club Level 5 11-12)q Isla ThoD]son 3rd Place Page4
Dundee nastiof Club 2K ofthe Trust¢es lor the Year Ended31 Janu 2(Y25 OBJECTIVES AND ACTJVITIES Club Level 4 9-10)q' Mia Glab l.4t Place Club Level 4 11-12y' Keira Madill 3rd Place Club Level 2 8-IOyr Orla Mckeogh 3rd Place Club Level 2 7-Syr Olivia Glab 2nd Place Huge congraNlation5 to Bvie Ross and Ella Bloi¢e for their selEGtion to the Scotttsh Gymnastics PPP Squadl Floor and Vaultre5u]1s ThÉs section has made great strides ahead- innutnbets as well a$ in the level of pErfornian¢el At rtLe rwo Scottish events the g)mnasts were rewarded foi their improvementsl Ill June they won the tealn medals, silvej. for the I l year beginne bronze for the 10 year beginners. In November they received individual medals on top of even more team rnedals. Gold went lo Alisa Pliskova in the aa aThd OJ flooi. Can Lightfoot WOIi Silver on floor and bri)nze aa. Yet allother bronze medal winner w&8 Scarlett Snell. The following teams also won bronze medals: 10 y¢ar beginners, 11 ye. beginners and 12113 year be8Er51 Over and abovc tbis mally moiE gymnasts from this section won medals at anumber of smaller events around ScotIand. Fzntasticl Section development iiinutnbers Our bDys section has sofflewhat grown in nu]nb¢rs during the 4St year. Tht of our senkor boys are continuing their Irdining but have now been joined by 17 ILttle boys with lots of energy. An optimistic vetl}re1 The Floor and Vault section from 19 members to 26 since Janury 2024 and its popularity is hllge. The ci)a¢hes enthusiasm is kcy. The women's artistic sectioll remained prety constant with now 61 gir15, aged between 6 attd 17 yeaTS of age, involved ill regular 'aing for COmptitIOns. TUble is lookig very healthyl The dcvtlopment group is once ag&in fill to the biim with 18 g)qnnasts wbiist the competitive tumblers are also showinE up in big llumbers to every training session. They havc now gone up to 22 perfoe. Coach eduixtion As every year. th¢ club is investing in our coaches by allowing and supp01tti theln to reach the next higher level in their coaching awards. Bethany Moss will s+art her Tumble L2 exam, 22nd Feb 2025 HalltLah Moss ctsMplet her Tumble Ll Oran Mccafftrty qualified as a Tumble club judge Lily Crwk passed her Level 2 WAG Calvtti Graves passed his Level I WAG Lucy Wiseman waiting foi. result Level I WAG Neve Mitchell completed ber Mod I tD Mod 4 Level 3 WAG Neve Mitchell is booked on to the pre-school eours¢ All Leve12 upwaids have completed thesr CPD Flexibility Training Pftg¢ 5
Drndee G nastics Club 2K ort of the Trustee5 for tlie Year Ended 3 Janua 2025 STRATF.GIC REPORT Ar.hievemeJ]ts aftd performance Trknndraising activities Fundraising activities include raffl, events. and voluntary donation5. The Club complies with Scottish tharity law and did not engage professional fundlSer$. No fundtaiS]Dg complaints were received. mebship increased to 788 gymnasts. The expanded Brown Street facility enabled greater capaeity and reduced reliance on exkrnal v¢nue5. The Club delivered successfi]I Collipetitions, holiday camps, and illtemational tiips. Competitive squads achieved strong re5u]ts across rlluItiple diseipbnes. higblightrng the dediGkrtÈon of gymnasts and coaches. FinaThci21 review Ftnancial Report 2024-2025 total net swplus was £2,966 8fter cha]ng depreciation of £26,197. 2024-2025 total operating income was £518,926 up by 18.820/0 on last ytaT (as restated). 202¥2025 total operating expense ( excluding depreciation ) was £489,763 up by 16.2P/o on la£t year {as restated). Givillg an operating sU1S of £29,163. From thi5 w¢ were able to cover our loan rePalellts of £18,198 So, ther6 was a Tr]nainiEE swplus of £10,965 alld this was used as cash flow to eover outs foi. competition feas and leotgrds b¢for¢ getting back from involcu. We didn't receive ally grants tt)is yearbllt fi]ndrai5ing alld donations brought in £1.855' Easy fidd]Sing £79.24, Jntona £I¢X).00, Tumble raffle £450.00, Gift Aid £260.23, £120.00 fyom Sale at Clllb Competition in Febrllary, £846.22 from raffles at th¢ Club Championships in DecEmber and a big thaJd( you to everyone who made a donation it really made difference. Annual Club MembeipS eontributed £20,178 up from l> year by 9.63Y., dlle to increase in Jnembership and ebership aDnual tncrease. Prenjtses rcllta]s Brown Street 3842 and McTaggart CenttE cat to £93.790 which is down 8.0/ OEI the previous year. Due to the rethiced time slots at the McTaggart Centre, titi]ising our extension at Brown Street. Utilities - water, gas, electiicity, phones et¢ - was up by an averdge of 62.40/0 ]naidy due to thi]ity incttase5 glld 38 Brown Street heatIg and lighting time as well as wateTrates. Fitiallcial charges were up by 39Yo on last year. Fiom London & Zurich direcÉ debit system atkd BaDk of Scotlalld, due to increase in ember fees and ballk levy. Our workForce education keeping up io date and qualifying new Coaches cost £1,765, less £718 received back in subsÈdie5 applied foi. thro@ Sport SGotland. Payroll for the period £321,216 up by 22.4W/o this was due to wage ittcrease and the standard of coach's qualtfications going up 2S well as a small in¢rE&se ill staffing. Staff were given a 5 /0 in¢re45e OD 1st April 2024 (ormore for the lower levels to keep up witb the National Minimurn Wage). Page 6
iindec G astics Club 2K e Trustees for the YLI Ende 2025 STRATEGIC REPORT Princip#l risks and uncertainties Key ri8k.% includc fanCiaL reliance oll member511ip income, utility Cost llkcreases, and etwing sufficient qualified Coaching staff. Trustees review the risk regist regUl.[Y and maintain oversight of safeguarding and health and safety compliance. Fifftancial and risli ]Dallagement objectives aiid policies Bi'oiyrn Street Premises Th¢ charity occupies premises a long-tenn lease lo support the delivery of g)qJnastics trdilling and related activities. The lease conunenced on 30 November 2022 Hnd piovides seowe, dedicated facijkties that allow the rharity to deliver a consistent 'Ogra[n to ils embe[5. The premises represent a Si1cat operating base for DGC2K and 'e essentEal to aclllevtng the chatity's obj¢¢tive5 ID protnoting participatii)n En g)qnnasti¢s and encoura£tiE physical aciiyity among children and young peoplc. The lease includes a teTrallt-only brcak option Èll Novemkr 2027. The tTrJst¥eb regularty review the suitabslity and affoidability of the PTemises as part of the charity5 risk mpllagement andstrategicplant)ing processes. Future plaTh5 Plans s2]clude expanding recreational capacity, strengtliening commw)ity engagemenL eJthancin8 coach education, aud rEviEwing long tenn facittty requiieEnenls to ensure sustainability. STRucrtniE, GOVCIRNANCE AND I1T Gov¢i'ning ducufflent The charity Il[pOrated as a compaDy limited by guarantee and not baving a share capital on 28th May 2003. It is govemed by its Articles of Associatioll. TTUSt£es are appoillted fro the mcmbcrship or nominated by serving TN5te¢s. New Ttse8 ceIve induction covering legal Jzsponsibilitie5, safeBu8rdin& and financi21 oversight. Operational rnanagement is delEgated to tILe coachll)g and administrative ttAm, repoiting to the B02rd. The TNstees. who are also the directo for tht PUiPOSB of company law, and wTrLO served during the year and up to the date of signature of the finmcial stateMts were.. P Carson C HuxEey ABell B Peten A Brernner (resigned 14,5.24) R Scirtt {resiglled 9.6.251 L Hebenton (appointed 14.5.24) L McDowall (appointed 14.2.25) G Stirton lappoillted 9.6.25) RecruItent and Rppointment of new trustee5 F40 person may be appaintcd as a tnistee un]6ss That r¢rson is a meber or is wci)rnrtkended by the serving tn]stces. At every genern eeting one-thd of the trusttes who are subject to retirenient by rotation sh&ll retire from offi¢¢. All ttustees are made awaiE of the Dbjectives of the charity on appointment and tbe necessary training is provided. Key manage¢ relnuneration ReE]]uneration of key anagement personnel was as follows 2025 2024 Aggregate cotnpensation 57,T77 53,650 Page 7
Dllnike G Lic 2K oit of the Ti. f r the Yvdr d31Janu 2(r25 STRUCTURE, GOVERNANC.F, AND 1WAGEIINT Trustee Remuncr&tioTJ and Related Parties Tn]stees Tray be paid for coaching or admillistrativt sViceS Ulld the Articles. During th¢ ye. Beate Petersen received a gross salary of £31,384. Paul ca0 £13,416. and Clare Huxley £11,839. Employer pension contributions were also paid dU[g tbe ytrdr,. Beate Petersen £754,. Paul Carson £216,. and Clare Huxley £168. Louise Carson, wife of Paul Carson. received yemuneration of £22,473 and employer pension contributions of £487 were paid on her beha]f. Trustees received expenses during the year dts¢losed in the notes to the accounts. Diiring the year ended January 2024. the Club continued to itivt in the development of its facÉlities to 5UPPOrt the wwth of gwinastics activitic% within the co]]Imwiity. A major tlernent of this investtnent was the iJnprovcment and iefirbishment of the leased Brown Streetpremise5, With total eXpenditLt of £134,953. The Trustees note that £41,294 of this expellditure related to work catried out by Cars(x] Contracts. The own. of Carson Contracts is the brother of Paul CarstFn, the Club'5 Treasurer and one of its Trnstees. In accordallce with the charity s conflict of iDtu'est poliw. Paul Carson declared this relationship at the outset of the pmject and took no part discussions or decssions ttgarding tbe selection or ppointment olthe contractor. The Trus¢5 considered multiple quotations and detemiined that CaTson Contracts offered irst value for Jnoney, witb the reqwed wotk delivered to au appropriate stsjidard and within weed t]£Scale& The TTusEee5 ar¢ satisfied that the transaction was eollducied on all arni's l¢ngth b05is and in the dTrarity's best interests. The Trustees coE]fm that, aside from this matter, th¢re were no other related paty transactions during the year that Tequire disclosure undertbe Chaiitie5 SORP (FRS 102). RF.FERENCE AND ADlI(tNISTRATIVE DETAllS Registered Company nujnber SC250221 (Scotland) Regtstered Cbarity Dumber SC034466 Registered office 40142 Brat)ttwood Avenue Dtllkdee DD3 6EW Principal address 38, 40-42 Brown Street Duudee DDI 5DT Page 8
Dundee G astics Club 2K Re ort of the TrustEe5 for the Year EE]ded 31 Jar)ua 2025 Trustees P Carson C Huxley ABell B Petets¢n A Bremner (resigned 14.5.24) R Scott (resig]ed 9.6.251 L Hebenton (appointed 14.5.24) L McDowall {appoknted 14.2.25) G Stirton (apy)inted 9.6.25) Cornpany Secretary B P¢tex3en Auditors Munay Dalgety C.A. (Senior Statutory Auditor) BK Plus Audit Limited, Statutory Auditoj. Chartered Certified Accountsnts 144 Nelhergate Dundee DDI 4EB STATELiffjNf AS TO DISCLOStJRE OF INFORMATION TO AUDrtORS So far as the trustees ate aw¢, there is nlevdnt it]forniation (as dered by sectio 418 of the Compani&s Act 2006) of which the cbaritable company's auditors are unaware, and each trllstre has taken all tILe steps that they ought to liave taken as a trustee in order to make them aware of any audit ith17nat1o and to establish that the charitable COpYy'S auditors are aw&re of that infonnation. Each of the Trustees has confmed that there is no inforllEation of which they are aware of which is relevant to the audit, but which the auditor is unawate. They bave further confjllned that they have taken appropriate steps to identify sud] vant infonnation and to estsblish that the auditor is aware of such infomiation. Al[ToRs In accordance with the compally's artides, a Trsolution proposing that BK Plus Audit Lilted be reappointed as auditOL of th¢ company will be put at a General Meeting. Report of the ttustees, incorporating a Strdtegic Teport, approved by order of the board of twstee5, as the company directDrs. on ritr& 20¥..... and s]ed on the btsard's behalf by.. P cS(- Trustee Page 9
a5tics Club 2K atement of TrL]Ste¢s' Res ollsibilitie5 or the Year Ended 31 Janua 2025 The Tn[st8, who are a150 the directors of DwTrdee Gymnastic Club 2K for the purpose of Company law, are responsible for preparing the Tn)stees' Rerx>it and the financial sr84tsments in aCCordce with applicable law and UDited Kingdo Accoullting Standards (United Kingdom Generally Accepted Accollntiiig Prdctice). C(m)pany law requi5 the Trustees to pr¥parE fllMncial StateentS for each r]nancial year wlLich give a true and fair view of th6 State of affaits of the Charity and of the incoming 2YsourGes and application of resource5, including the itLcome ad expenditure, of the charitable ¢02npany for that year. In preparing these f]nancial staternents the Trustees are required to.. sclecl suitable accounting PDlicies and then apply tiiem coiisisiently,. - observe the methods and principles the Charities SORP,. - make judgemEnts aud estimates that are reasonable piudent,. stste whether applicable [ACCoUnting Stsndards have been foIlowe¢L subject to any Matla1 d6PErtllres dis¢losed and cxplained ÉtÈ the f3nancia] stateentS- - piEp3re the tinancial stat¢tlS on tbe goi#g concern basis unless it is inappropriate to presutne that the Charty wiu ¢ontinue in operation. The Trustees are rcspollsible for keepis]g adequate accounting records that disclose witb reasonable accuracy at any time the financial pO$tiOn of the Charity and enable them to enswe that tbe fanCIal statements co]nply with the Companies Act 2006, the Cliarities and TrL]Stee tnvestsnent (Scotlmd) Act 2005 and the Charities Accoullts (Scotland) ReBulatiolls 2006. They are also respoiisille for Safeguarding tbe assets of the Charity and hence for tskiDg reasonable steps for the prevention and dthtion of fraud and other irregiilar1ti. The Tn3Stees responsible for the maintellance and integrity of the chaTity and finon¢ial inforniation inLlud¢d oa the Chaity's website. Legislatioll in the United Kingdom goyemwg the pryration and diSsemirt10n of accounts Enay differ from I¢SlatiOn ill other j1$diCtiOns. Page 10
rt olthe Ind¢ endentAuditoi"s to the Trustees of Dundce nIa5(S Club 2K Opinion We have audited the financial statements of Dundee GJTnnastics Club 2K (the 'Charity') for the year eaded 31 January 2025 which comprise the staTrment of fillancial activities, the balance sheet, the state¢t of cash flows and notts to the f]nancial statements, iiicluding sigTrificant accounting policies. The fatIll reportillg framework that ha5 been applied in Ihetr preparation is appliLable law aud United Kingdom AcGouniing Stalldard%, including Financial Reporting Sta]idard 102 The Finallcial Ryrting Standard applicable in thE UK Republic of Th"el&nd {United Kingdom Genei'ally Acceptcd Accountiiig Practice). In our opinion the fmaiicial state¢.. give a tn]e and fair view of the slate of the ¢h.1tab1e COMpaY'S affairs as at 31 January 2025 and of its incoming resources and application of resources, includuig its illCoe and eXpEd]lur¢, for the year then Ended. have been prOl'ty prepared in aeconlance witb United Ki]igdom Generally Accepted Accounting Prattice. and have been prepa]rd in aGcordance with the requirements of e Companies Act 2006, the Charities and Tntee Inv¢smient (ScotlaTLd) Act 2005 and Regulation 8 of the Char2ties Accounts {Scotland) Regulations 2006. Basis for opinion We Coiiducted our audit in accordance with Intemational Standards on Auditing (UK) USAS (Lll()) and applicable law. OL ItSpsIbilitIeS under those standards are f¢r deg¢ribed in the 'Aiiditoffs responsibilitirs for the audit of fmancial State¢ts, section of report. We are independent of the Charity in awordance with the edLi¢al requireTrents that are relevant to our audit of the fingll¢ial statements in the UK, th¢luding the fRC's Ethical Standard, and we have lf1¢d our other ethicaI responsibilities i accordance with these requirements. We lieVE that the audit evidence we have obtaed is sufficient and appropriate to provide a basis for our opinio Other matter. coillpar2tive information unaudited The financial statements include comparative infonnation for the year ended 31 Jalluary 2024. These comparativ¢ figuiEs ivere not audited, and thercfore we donot express an opinion on them. Conclusions rel2ting to going eoncer tn aiiditing the fjn&ncial staEements, we have ¢on¢luded that the Trnstees, use of the going concern basis of aOunting in the preparation of the fm2llcial statements is appropriate. Based on the work we have pcrfomied. we have not identified any material uncertaintles relating to events or conditions that, individualty or collectively, may cast SiIficant doubt on the Chrrity's ab]lty to contiuue as a going conc¢TQ for a period of at least twelY¢Jnontb5 ftom wl)en the financial statements are authorised for isSLIe. Our responsibilitlts and thc rcsponsibilkties of the Trllstees with respect to going concern are described iTr the relevgnt 5e¢tions of this report. Other informatio The trustees are SponsIble for the other information. The other infomatioll Compl¢$ the inforn)ation 1clUded in the Annual Report, other tlLan the fLnancial statements ourReport of the Jndependent Auditors thereoii. Our opinion on the fJnanci&l 5tattllL¢nts does not covei. the other information and, except to the extent othlSe explicilly stated ID our repoA, we do not expi"es8 any totTh of as5ufdllCe Conclusion thereon. In connection witkn our audit of the financial ststements, our wponsibility is to read the other informatioll an( in doing so, consider whetheT the other orMatiOn is materially inconsistent with the fmanci¥*l statements or ollt knowledge obtaitLed in the audit or othetwise appears to be materially misstated. If we identify such material incowistencies or appatent material misstaletnents, we are requ1 to detettnine whether this givE5 Ii5e ID a material misstatement in the financial Sfatements ihemselves. If, based on the work we bave perfomied, we conclude that iheJE is a material l$Statement of this other inforniation, we are required to report thai fact. We have othlljg to retK>rt in this regord. Page 11
of the Inde endent Auditors to ihe TTU Dundte G nastics Club 2K Matters on whicb are requii'ed to report by exception We have nothiag to report u] respect of the following matters where the Charities Accounts {Scotland) Regulations 2006 requires u5 to repoit to you if. in our opinion.. the given in the Rqx)rt of the Tnwees is inconsistent in auymalerial respect with the finaD¢ial statements,. or thy chdTitable company has not kept adeqiiate e¢c0ulltg records. or the fvjancial StateentS are not in agreerlleni with the accountingrecords and rthms. or we have not received all the infomiation and eKplanati(Fns we reqllire for our audit. Rc5ponsibIlitl of trustees As explained more fully in the Stateinent of Trllstees. Respoll5ibllitEes, the trustees are responsible for the prepantion of the financial 5tatemenis and for being satisfied that they give and fair view, and for suGh internal control as tbe trustees detern]ine is necessary to enable the Lyepatation of financial statemcnts that ale ftee frorn material Tnisstateriient. whether due to fraud or eryor. IT* preparing the flltancial strdteTnerJts, the ttustees are responsib16 for assessing the cbaritable G[sJnpanS ability to continlle as a going Collcem. dis¢losin& as applicable, nMtieTS related to go8 concem aTLd wing the going coll basis of aclounting unles5 tbe trustees either intend to liquidate the charitable cojnpany or to cease operatiolls, or have no rtalEstic alternative but to do so. Page 12
ort of the t]id elldtnt Audirors to the TEllStees of DiiT]dee G mnastics Club 2K Oui- respoRstbilitlES for the adit ol the finaneial statemeE]ts We have been appointed a5 auditors under Section 44(IXcl of the Chatities and Tiustee ]nvest£t (Scotlandl Act 2005 and irport in accordance with th¢ Act audrelevaot regulations made or having effect thereiindei.. Our objectives are to obtain reasonable assuranc¢ about whether ibe fttmncial statements as a whole are free from mateTial misstatement, whether due to fraud or error, and to issue at] auditoi's report that includes our opiniolL Reasonable &%surance is a high level of assLttan£e bul is not a giiarantee that an audit conducted in acconlancE Wlth ISAS (UK) wi]1 always detect a matetial ll]iSStalement whe it exist5. Mi55tatBmenls Can arise from fraud oi. emir and are considered material if, llidividually oi" in the aggegate, they could reonablY be expected to influence th¢ economic decE5ions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting IegUlarltLes, includiag fraud is detailed bBIow'. At the plarnitig stage. we assess the risk of material misstatelnent and any such I¢gularitieS and desigll audit procedures tailored ro these risk5 whidL will b¢ followed to ensure that we are capable of rneetinE our rc8ptsnsibilities this area. With a tyharitable company we deem the Enain risks lo be maintaining the contitLuity of cOMe streams. and i'etaining suffiGieni Nerves to supportthe company. Faetors I'elevallt to our assessmenl, which have a positive impact oll the capability of our proctdures to det¢¢t such iegUlaritIes. are the size of the entity, the complexiry of the entitys operatioJ)s and our understanding of their regulatory and control eovironments. The staff working on this audit assignment have been tully brief¢d in relation to the ¢hLrity's activities, including the iEgulatory regime in which they operate. As p1 of an audit u) accotthnce with ISAS Li), we exercise profeOal judgement and maintsin wofe&sional sccpticism throughout the audit. We also., Identify and asses5 the risks of matertal rnEsbl{ii¢¢nt of the fin&tIal statements. whether due to fraud or error, design alld perform audit pr(Kedures reSpo1ve to those risks, and obtain evideiice that is sufficient and appropiiate to proTride a basis for our opinion. The risk of rnot detecting E material misstatement resulting from fraud is higher than for one Slting from error, as fraiid may involve collusion. forgery, intentional Omissios, misiEpre5entations, or the override olinternal cOtrOl. Obtain an UnderstandU of internal control relevant to the audit in order tD design audit procedures that are apprw'iate in the circumstances, but not for the pu]pose of expressing 2n opiniotk on the effectiveness of the internal control. Evaluate the appropriatentss of accounting policies used and the reasonableness of accountin8 eStiEaates and related disclosuS Enade by thc Tntstees. - Evalliatc the overaElpresentation, stTUCtUTe and content of the financial statements, includinE the disclosures, aT)d whether the fll)an¢ial statements represeot the underlying tsansactiOn5 and events a mannerthat achieves fair presentation. We ¢ommunÉ¢ate with those charged with governance rtgardllE, among other tnatters, the planned scope and timing of the audit aud sl1ft¢ant audit fjndings, including gny sigTiificant deficiencies in int6mal control that we identify during our audit. A fuither de5CriPtion of our responsibilities for the audit of the fmancial statements is located on the Finacial Reportitig Council's website at www.frc.org.uk1auditorsrespolbllltIe5. 1'his description fornis part of our Report of the tndependellt Auditory. Page 13
ort of the tnd endent Auditors to the Ttustees Duiidee astics Club 2K Use of our report This Teport is made solely to the charitabl¢ COpanY'S trustees, as a body, in aCCordace with Regulation 10 of thE ChitIeS AceourLtS (Scotlandl RegiilatiOll5 2006. Our audit work has been undcrtaken sts that we might state lo Ihe ch8r2table cOmp(Y'S INsiees those iallers we are reqll1r to State to them in all auditOTS' rcport and for no other purpose. To the fullest extent p¢llniU¥d by law, we do not accept or &ssume respollsibility to anyone other the Charitable company alld the charitable company'5 trustees &s a ix)dy, for o audit work, for this rq)ort. or for the opRrrion5 we have fOlled. MuaY Igety C.A. {Senior StattLtory Auditor) ElgIble to act a5 gn auditor ill tellns of Section 1212 of the Compani65 Act 2006 BK Plus AuditLÈmite( Statutory Auditor Chartered Certified Accountant$ 144 Nethergate Dundee DDI 4BB Date.. 14èL M_I Page 14
Dundee G mnastics Club 2K State¢t of Financial Activities Inco ratin an Income andEx elldituie A¢count foi. the Year Ended 31 Janua 31.1.25 Toial nds 31.1,24 Total fi05 &% Tesrated U]triCted fund Restticted fi]nd5 Notf INCOME AND ENDOWMENTS FROM Donations and legacies 891 891 16,218 Charitsble Activities Charitable activities 517,263 517,263 420,185 Othei'trading activities vesttnellt M]come 747 25 747 25 170 134 Totsl 518,926 518,926 436,707 EXPEIYDITURE, ON ChgritsLblL activities Charitable activities 515,960 515.960 448,777 NET llYCOLIIE, I(EXPENDITURE) 2.966 2,966 (12,070) RECONCiLIATION OF FUNDS Totsl fL]nd5 brought fonyaiyi 90,720 90,720 102,790 TOTAL FUNDS CARRIED FORWARD 93,686 93,686 90,720 The notes part of these financial statemeDts Page 15
dee a5tics Club 2K Balance Sheet 31 Janua 225 31.1.25 Total fi]nds 31.1.24 Total nds as restated Unrestiicted fimd Restiicted funds Note5 FJXED ASSETS Tgible assets 15 179,914 179.914 201,140 CURRENf ASSET5 StoclJ r)¢bto Cash at bank 16 17 4.808 945 11,425 884 24.996 884 24,996 25.880 2S,880 17,178 CREDITORS Amounts faI]ll due within year 18 (36,524) (36,524} (31,752) NET CURiIENT ASSETS (10,644) (10,644) {14,574) TOTAL ASSETS LESS CURRELYT LIABILITIES 169270 169,270 186,566 CREDITORS Amounts fal]ing due afier more than one ye&r 19 {75,584) (75,5841 {95,846) NET ASSETS 93,686 93,686 90,720 21 Unrestiicted fi]nds 93,686 90,720 TOTAL FUNDS 93,686 90,720 The Charitable company is enttiled to exemptiDn fiDm audit under Section 477 of the ConTrpanies Act 2006 for the year ended 31 January 2W25. The tbErS have Trot deposited notice, purs[at to Section 476 of the Compauies Act 2006 reqYTh an audtt of these fillallciai Statements. The trn5tees acknowlcdge theirre%poDsibilities for ensuTing that the chtable company keeps accollnting [ecolS th&É coinply with Sections 386 and 387 of th¢ Companies Act 2006 and preparing fanCial statements which give a true and fair view of the state of affairs of the chttable company &% ttt the ¢nd of each finaucial year and of its surplus or deficit for each finarA¢ial year itt accoL'dance with the requirements of Sections 394 ad 395 and which othenvsse CDmply with tbe wÉrements of the Companies Act 2006 ielating to financial statements. so far as applicable to the charitable conipally. Ib) The notes fomi part of these financial statements Page 16 continud...
These financial staten)ents have been ldIted under the reqiiirenjents of Sedion 44(1)Icl of tbe Charities alld Ttee Investment {Scullandl Acl 2005. The fmancial statements weie approved by the Boai'd of Trustees and allthorisal for issue on signed on behalf by.. _L 2oL and were P Carson- Trustee C Huxley - Trustee The notes fomi part of these fanCial stateTnents Page 17
Duttd¢E G stics Club 2 Cash Flow Statement for the YearEncted3 025 31.1.25 31.1.24 as restated Notes Cgsh floTrv5 from operatlng activili&s Cash generated from operations 36,716 Net Cash providedby operating activities 36,716 Cash flows from investing aetivities 1has¢ of tangible fixed Sets (4,971) {187,430) Net casb used ill investllig activities (4,971) (187,430) Casb floTrv5 from financmg activitie5 LO Tepayments inyear InvESttneot income (18,199) 113,127 134 Net ¢&8h (wed tllJfvovidEd by fioancing a¢tiYitiEs (18,174) 113,261 Change tn eash #nd cash eqllav&lents in the reporting period Cash and cash equtvaleDts at the beginniDg of the reporting period 13,571 (53,058) 11.425 64,483 CAsh and cash equivalents at the djd ef the reporting period 24.996 11,425 The notes part of tbese fjllallcial statements Page18
Dundee G nastics Club 2K Notes to the i Ende Flow Sratement RECONCILL4TION OF NET INCO11/(1 XPEIYDITURE) TO NET CASH FLOW FROM OPERATING AcfiviTIES 31.1.25 31.1.24 as restated Net Èncomel{expelldÉture) for the repoiting pcri(Ml (gs per the Slat¢ment of Finaneial A¢tAvilies) AdjustmeJ]ts for: Depciation charges vestment illconit Decrease in stocks Decrwel{increase) in debtor5 Increase in creditors 2,966 (12,0701 26,197 (25) 4,808 61 2,709 27,557 {134) 1.305 (945) 5,398 Net cash provided by operations 36,716 21,111 ANALYSIS OF CIL4NGES tN NET DEBT At 1.2.24 Cash tlow At31.1.25 Net cash Cash at bank 11,425 13,571 24,996 11,425 13,571 24,996 Debt Debts [allg due within l year Debts falling due after l year (18,198) (95,846) (2,064) 20,262 (20,262) (75,5841 (114,044) 18,198 (95,846) Total 1102,619) 31,769 170,850) Thenoles follnpart of thes¢ financial statements P&ge 19
Dundee tics Club 2K Notes to the FInaCIal Statements for the YearEnded 31 Janua 2025 CHARrry INFORMATION Dundee GyInnaslics Club 2K is a private company limited by gu2r3ntee incoryordted in Scotlartd. The company is re¢ogmised & charity by tbt Office of tbe Scottish Charity R¢Eulator. The registered office is 40142 Brantwood Avenue, Dundee, DD3 6EW. ACCOUNTING POLICtEs Basis ofpreparing the fjnaDcial ststemenls These accounts have been prepared ITh Rccord3nce with FRS 102 "The Financial Reporting St8ndard applicable in the UK and R¢pubiic of Ireland" ("FRS 102 ), "Acci)unting 8nd Reporting by Charities tbe Statement of R¢cotuTrended Practice for chitLeS applyillg FRS 102, tbe C02np8nies Act 2006 and UK Generally Accepted Accounting Practice as it applies from I Jauuary 2019. The Trust is a Public Benefit Entity as dcfincd by FRS 102. The fill&ncial statenlents are prepared in 5t¢r]ing, wluch is the fiEDCtioTral cwrency of the Charity. Monetary amounts in these ]ItncIal statements are routtded to the nearest £. Assets and liabilities are initia]ly recognised at historical cost or transaction values t]nless otherwise stated in the 1¢YaLt accounting w)li¢y n(Ite(s). Going cancern tf the charity were unable to continue a going concem, tbe accounts would have to be adjusted to write down assets to their coverable amount, to provide for any additional losse5 or liabilities tliat might arise and to reclassty fixed assets as curjtnt Bssets. tncome AU icOlne is recognised in ti?e Statement of Financial Activit1¢5 oiice the charity hBs elltitlemellt to the llds, it 15 probable tbat the income will be received and tbe amount can be measuied reIiably. Cash donation5 are recognised rtceipt. Other donations are recognised once the Chaiity has been notified of the donation, unless p¢rfomiance COditiOnS require defenal of the aot. IncOt recover&ble ux relation to dulldtii)Js received der Gift Aid or de¢& of covenant is recognised at the tlln¢ of the donati. WberE the charity receives atti)nymous donatiolls these recorded as uJ]restricted unless the dOTro5 intent all be ascertained by ally accompanying documelltatioJ. Where anonymous (>)natiQa5 are si]ficallt in value they undergo internal review to ensure compliallce with legal andetbicaI st2ndards. Legacies are recogllised oll ceipt or otherwise if the Charity has been Dotified of an vnpending distributio the amount is known, alld receipt eACted. If the amount is not known,the legacy is treated as a contingellt set. Expellditre Liabdkties are re£ogryAised as expendittue as soon as there is a legal or GOtCtiVe obligation conunitting the charity to that ex&Knditure, il is probable that a transfer of e¢onomi¢ benefits will be qred settlement and the amount of the oblig7Ltion be measured reliably. Expenditure is aeci)unted for on ao accruals basis and Iw been classiFied under headings that agèvBate all cost related lo the category. Where costs cannot be dittctly attributed to partioul8r hoadings they hAve been allocatedto activities on abaais consistenl with the llse of resources. CharitAble expendEtr comprisas those costs incurred by the Chlty in the delivery of acliVÉtie5 and seTrices to its munbers. It includes both ¢OSES that can be allocated directly to such activities aTLd those costs of 8n indirect natLwe necessary to support tknem. Page 20 continlled...
dee nastics Club 2K Notv to the FanCIal Statt]nents- continued for the Year Ended 31 Janua 2025 ACCOUNTING POLICIES- coDtiniied Expenditure Goyeimance costs in¢lud¢ ihose costs ètssociated with u]eeting tILE CD]tstitutional and 5taNt(ry requirements of the Charity and include the audit fees and costs linked to the strategic management of the company. All costs ate allocated between the expenditure cateoorie5 of the SOFA on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated ditECtly, others air apportioned on an appropriate basis. TanEable r]xed assets DepreGiation is provided at the following annual rdt¢S llL order to write off each asset over its estimated useful life. tkasehold property iTrprovement Plant ind machinery Fixtures and fittings 15 /0 on reduciug balance 15/0 on reducing balance Stocks Stocks are valued at the lower of cost and net realisable v&Fue, after making due allowance for obsolete and slow Tnoving items. Taxation The ChLty is exempt from cory)oration tax on its ctwitable activities. FuThd 8ccollnting Unrestricted fim(ts can be used in accordgnce with the ¢haiitable obje¢tives at the discretion of the trllstees. Restiicted fimds can only be used for pgrticular restricted puryy)ses within the objects of ttLe clwity. Restrtctions arise wher specified by the donor or when funds are ]Sed for pt]lar re5trickd PULposes. Further eXpla]tIon of the nature 2TLd purty)se of each fid is included in the notes to tbe financial statements. Pension costs and other post-retirtment benefits The ¢haritable comwdlly operates a def]ned contribution pension scheme. Contributions payablE to the charitable company'5 nsion scheme aTe charg&l to the Statement of Financial Activities iti the period to whiGhthey relate. Operating lease eosts Rentals payable wider operating Iwes are Gharged to Expenditure on a straight-line basis over the terni of the lease, accordance with FRS 102. Lease incentives, illcliidiDg rèttt-free pcriods th" reduced initial rental p&yments, are spread evenly over the lease tejrn. The charity [ecogniS operating lease costs within eXndItsire on the Statement of Financial Activiiies. Future minimum lease paymeThts under non-cancell&ble operating leases are disclosed in the notes to the flljancial ststements. Leasehold property ImproveentS Leasehold improvements are capitalised at cost and depreciatEd over the shorter of the usefvl econOlC life of the asset or the I&¢ tern, including any period for which the charity is rtrdsonably Certai that the lease will extended or not tetminated. Depreciation is charged on a straight-line basis. UsefiEI lives and certainty regarding lease extensions or tennination options are ieviewed allnually in line with FRS 102 Section 17. Page21 contillued...
Dundee asti¢s Club 2K Notes to the Finatt¢ial Statements- GOntiued for tlie YearEnded 2025 ACCOUNflNG POLICIES- continued EplOyee benefits The cost of any unu5¢d holiday entitlement ts rccognised in the paiod in wkllch the employee's services are rece2ved. Tern]ination benefits are recognised inune(thately as an eXllse when the CoMpaY is den]onstrably cornn]itted to terniinate tbe employment of tployee or to provide tennination bEnefits. DONATtONS AND LEGACIES 31.1,25 31.1.24 as resEated Donation5 891 16,218 OTHER TRADtNC AcfivITIES 31.1.25 31.1.24 as restated Sale of goods 747 170 INVESTMENf DICOME 31.1.25 31.1.24 as restated Deposit account iDterest 25 134 ]FICOIVIE FROM CHARITABLE ACTIVITIES 31.1.25 31.1.24 as restated Activity Charitable activities Ch&itable activities Chaiitable activities Charitable actrvities Fees Cotnpetition & workshop fe¢3 Hall hire in¢ome Other income 492,426 6,165 14,586 4,086 412,271 2,962 2,960 1,992 517,263 420,185 Page 22 continued...
Dundee G nastiu Club 2K Notes to the Financial Statements- continued for the Year Ended 311aniia 2025 c4RrrABLE ACTIVITJEI S COSTS Support Costs {see note 81 Direct Costs Totals Charitsble activities 508,936 7.024 515,960 SUPPORT COSTS Governance costs Charitable activities 7,024 NEI T tNCOMEI(EXPENDrruRE) Net incompJ(expendituw) is stated afteTrh&rEing(crediting)'. 31.1.25 31.1.24 Deprecialion- owned assets Audit fe&s 26,197 5,400 27.556 31.597 27,556 io. TRusfEES' REMUNERATION AND BENEFTrs Duriug the yw: i) Beate Petersen, SeCrary ofthe charity, was paid a salary of £31,384 (2024- £29.553) for coaching services. ii) Paul Carson, treasurer ofthe tharity, wgs paid a salary of £13.416 {2024- £12,460) for coaching atLd administrative services. Ill) Clare Huxley, trustee of the t1ty. wa5 paid a salary of £1 1,839 {2024- £10,737) for admlstratiVe services. Page 23 ¢ontlliued...
Dundec G Club 2K Not6S to the Finan¢ial State forthe Year EndBd ts- conttnucd 2025 io. TRusfEES' REMttN£RATION AND BENEFrrs- coThtiiiued Tru5tees' expeDS Jn accordance with the Charities SORP (FRS 102), the ch&ity is required to disG105e all expens&s incutred by tTUStees, as trans&ctions involvillg trustees musi always be regar&d as Thterial. The following %nfonnatioiL is therefore provided in the ot¢s to the fin&uciat statements.. During the year. 3 intee5 (2024.. 3) weye reimbursed a total of £2,560.81 {2024'. £2,479.53) for expenses incutTed in fulIng their duties. These expenses related totsavel, accommodation, camp costs, oLYice costs, leardS and eVt ¢05ts. No other trustee received iE]niu]eration or any other benefit from the charity during the year. Where expenses were p&id directly by the charity on bEhalf of truste (for example, booking travel or accommodation), these amoullts have been cluded within the totals disclosed above. ii. STAFF COSTS 31.1.25 31.1.24 as restated Wage5 and salaries Social security costs Otkner peJ]sion costs 311,039 253,293 5,751 2.328 2,692 320,134 261,372 The 2024 comparative alnount for employths natio[] insurdnce ha5 been C[aSsIficd from wages & Salary costs. The aver&ge monthly number of employees thIngthe yeaT was a5 follows: 31.1.25 31.1.24 restated Coaches Administrative 32 33 32 No employe received ernolLllllents ill excess of £60,000. Page 24 continued.,
Dundee G tics Club 2K Notes to the Financial StatelllEnts- Continued for the Yeai" Endedi l Janua 2025 12. COMPARATIVES FOR THE sTATElENT OF VENANCIAL AcfivITIES Ulkrestricted fiind Restricted fvnds Total funds as ststed ¥COME AND ENDOwI¥IE1 FROM Donation5 k)nd legacies 16.218 16,218 Charltable 9Ctivities Charitable activities 420,185 420,185 Other tJxdinE activities tllvestmtnt income 170 134 170 134 TotAI 436,707 436,707 £XPENDITUIiE ON Charitable gctivities Charitable activities 448,777 448,777 BT INCoTrXP£NDjT[IR) (12,0701 (12,0701 RECONc[LTIoN OF FUNDS Total fud$ brought forward 102.790 102,790 TOTAL FUNDS CARRIED FORWARD 90,720 90,720 13. PRIOR YEAR ADJUSTIlN During the year, it was diScov.ed tbat depreciation on leasehold propety imwovements was omÉEted in the f]nancial y ended 31 January 2024. As a result, Leasehold Propety Improvements were overstated by £13.495 and Retained Eamillgs were overstated by £13,495 The en'or has been corrected by restating the comparative figures. The itnpact on the financial st&tements is as follows". Statement of Comprthensive Jncom¢.' Depreciation expetjse for 2024 increased by £13,495, r6sulting in 8 decrease ill wofit for the year of £13.495 Statement of Fin8llcial Positioll.. Accwnulated dq)re¢iation increased by £13,495 and retained eamings deueased by £13,495 Page 25 continued...
Diilldee G astics C ub2K Notes to tbe Financial Statemenrs- c for the Yea Ended 3l Janu 14. OPERATING LEASE COlItfflTMENTS DGC2K occupies premises Lmder 8 non canc¢llabl¢ operating lease for its gymDa5Éics c]ub facilities. The lease coenCed on 30 November 2022 for a period of 10 yea[5, ealg 29 November 2032. The annud Jynt 15 £40,800, payable in monthly Enstalmenis of £3,400, paid in advance on the rSt day of each month. The lease contains a tenant-ODly eak option on 30 November 2027, exerci5&ble with six months, notice. In accordance with FRS I¢Y2, there is clllleut evidence of intention t(F Yacate so we can conclude t11 they will not exercise the break. Therefore, ture min1UL le8se corn]nitments are disclosed up to 10 yea. Futllre minimum lease payments under noD-cancellable operating lehs&8: o Within one year.. £40,800 (to Jan 26) o B¢tweEn two andfive years.. £163,200 (to 2030) o After than five y&)rs.' £81,600 (to Jan 2032) Totsl fvture comMittts.. £285,600 15. TANGIBLE FIXED ASSIITS Leasehold propety mprovement Fixtures alla fittings Plant and machinory Totals COST At l Eebnjary 2024 Additions 134,953 [27,722 4,971 14,362 277,037 4,971 At 31 January 2025 134,953 132,693 14,362 282,008 DEPRECIATION At l Febniary 2024 Charge for year 13,495 13,495 51,954 12,115 10,448 587 75,897 26,197 At 31 January 2025 26,990 64.069 11,035 102,094 F4EI T BOOK VALUE At 31 January 2025 107,963 68,624 3,327 179,914 At 31 JaThuary 2024 121.458 75,768 3,914 201,1É10 Page 26 continlled...
Dundee G tics Clllb 2K Trlotes to the Financial Statements- n1Ued for the Ytar Ended 31 Janua 2025 16. STOCKS 31.1.25 31,1.24 as yestated Stocks 4,808 17. DKBTORS: AMOUNTS FALLING DUE WITHJN ONX YEAR 31.1.25 31.1.24 as iEstated Trade debtors 884 945 i& CRfi DrroRS: ALIqOUINTS FkLLiNG DUE WITEllN ONE YKAR 31.1.25 31.1.24 as restattd Bank loans and ov¢rdr8fts (see note 20) Trade credito Social security and other taxes Ac¢nd exse5 20,262 6,658 3,422 6.182 18,198 8,845 2,792 1,917 36,524 31.752 The 2024 comparative figure for bank loan has been reclassified from all due within one year to show aollnts due within one year and after one year. Taxauon aJ]d social Security has been reclassified fro accrued expense5 in 2024. 19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR. 31.1.25 31.1.24 restated Ballk loans {see llot£ 20) 75,584 95,846 During April and May 2023, the chaFity drew down £50,000 (on 6 April 2023) £45,000 lon 26 May 2023) under it5 Social tttvesttnent ScotlaThd facility. Ibese loans are bcine repaid by fixcd monthly instaltnents of £1,785.13, with the final repaEnt due on 31 March 2029. A firfer loan of £25,000 drdwn oji I September 2023. Thi5 loall is being reÈMid by month]y in5taknents of £435.40, with the repayment due on 31 August 2029. The ltrans are unsecured. tnteTest is charg¢d at a fixed rats itLcorporated withuL ttLe monthly Tepayment amoM)ts. At 31 January 2025, the outslandllE loau ba12nces are tncliided within UEditOE5 falling due within one year and ¢reditors fal]in2 due after more than one yedt, based on the agreed repayment schedules. Page 27 Continued..
Dundee G astics Club 2 Notes to the Financial Statements- Con fly the Year Ended 31 Janua 202 ued 20. LOANS All atMlys&s of tbe maturity of loans is giveu below.. 31.1.25 as restated Amounts falling due within olle year on demand.. Bank l¢)aJs 20,262 18.198 Amounts falling due Ethen two and five years.. Bank l(Mns- 2-5 ye 75,584 95,846 21. MOVEIWIENT IN FUNDS Net movement in fimd8 At 31.1.25 At 1.2.24 Unrestritttd fuTrd5 General fund SY),720 2,966 93,686 TOTAL FtDtDS 90,T20 2,966 93.686 Net MOve£t in thllds, inclu&d in the above are as follows.. Inci)ming resources Resources expended Movcment in ndS UnreslTltted Gen¢ral fid 518,926 (515,960) 2.966 TOTAL FUNDS 518,926 (515,960) 2,966 Page 28 cortinlled...
Dundee G na5tiC5 Club 2K Notes to the Financial Statements- ntilled forthe Yeai. Ended 31 Janua 2025 21. MOVEM£I NT IN FUIYDS- continued Comparatives for moveillent funds Net movement in fim(ts At 31.1.24 At 1.2.23 Unrestricted fuJJds General fund 102,790 (12,070) 90,720 TOTAL FUNDS 102,790 (12,070) 90,720 Comparative net rnoveEnent in fimds, included in the above as follows.. Incoming reS0ceS Resovroe5 expended Movement in fun< Unreytricted fuuds Genffl'al fund 436,707 (448,777) (12,070) TOTAL FUNDS 436,707 (448,777) (12,070) A cunrDt year 12 montbs and prioryear 12 months CobIned position is a5 follows.. Net movemellt in fld9 At 31.1.25 At 1.2.23 unrtricted funds General fund 102,790 {9,11)4) 93,686 TOTAL FUNDS 102,790 (9,104) 93,686 Page 29 Continu...
Dulldee astics Club 2 Notes to th¢ Financi&l Statements- contillEied for the Year Ended 31 Janua 2025 21. MOVEMENT IN FUIYDS- eontinued A cunent year 12 rnonths and priorye3r 12 months combined net n]ovement in fid5, included illthe a&)Ye are as follows.. [nmIng resources Resources ¢Kpellded Movement in funds Unrestricted funds General fid 955,633 (964,737) (9,1114) TOTAL FufiDS 955,633 (964,737) (9,1041 22. RELATED PARTY DISCLOSiJRLI S During the ye. euded 31 January 224. the charity undertook sigjiificant improvemeat works to the leased Brown Street premises. The total cost of tbese improvements 8mouLied to £134,953. As part of this project, payments totallEng £41,294 were made to Carson Contract4 a constsuction serv2¢es provider. The owner of Carson Coutracts is the brotber of Paul Carson, tbe Cluvs Treasurer and a Thstee of Dundee Gynmastic Club 2K. This relationship CQE]*itutes a iElated party trdnsaction the Charities SORP (fRS 102). The Tntee involved did not take part in decisions relaling to the engagement of CaOn Contrd¢ts or the approval of payments. The remaining Trustees satisfied thal the work was undertaken oll commercial ternis, at competitive rates. and the best interests of tbe charity. Durllig the year ended 31 January 2025 Louise Carsoll, wife of Paul C&tson, received OsS remtrdti9ll of £22,473 (2024.. £23,447) and employer pensioll contt'ilwtions of £487 (2024.. £510 were paid on her beba]f, No other related paty aaCtiOnS requiring disclosure weK identified dthing the year, other t1 what has already been disclosed ill the employment notes. Pag¢ 30
Dundee G astics Club 2K Ikraiied S ear Financial Aciivities nded31 J 31.1.25 31,1.24 as restated INCOFIIE AND EtgDOWI¥IENTS Donat10115 and l¢%acies Donations 891 16,218 Other trading activities Sale of goods 747 170 Inve5ttnent inC0e Deposit account intsrest 25 134 Ch2ritable actiYitÉes Fees Competition & workshop fees Hall hire income Other income 492,426 6,165 14.586 4,086 412,271 2,962 2.960 1,992 517,263 420,185 Total 1COMi11g resouretts 518,926 436,707 I XPENDITURE Charitable activitie5 Staff Employers national iDsuranc¢ Pensions Travel expenses Office & st2tionery Dues & subscriptions HiEe of premises Insurance DepreciatLOll Trait]ing & grades Gym & compctition kit Repairs & renewals Computer & website expenses Bank & ciedit card charges Telephone Carried fonvard 311,039 6,403 2,6 3,986 1,558 4,649 96,422 3,447 26,197 1,165 3286 4,804 259 19,081 498 485,486 253,293 5,751 2,328 5.281 299 3,081 104,005 3,390 27,557 3,828 3,500 1.366 713 13,711 861 428,964 This page does llot folln p8rt of the statutory fmancial statements Page31
Dundee tics Club 2 DelaÈled StaEernent ofFinan¢ial Activities for the YearEnded 31 Janua 2025 31.1.25 31.1.24 as restated Charitable actiYltAes Broughi fotward Heat, light & power Lom interest Cleaaing expenses Coaches, kit & UllTf(Yms 485,486 14,151 8,484 815 428,964 7,852 6,505 589 140 508,936 444,050 Sknpport Costs Governance costs Accountancy alld legAI fee$ Audit fees 1,624 5,400 4,727 7,Q24 4,727 TotaI resources expended 5l5,960 448,777 Net incofflel{eApenditure) 2,966 (12,070) This page do not forni part ofthe statutory financial statements Pagc 32