REGISTERED CHARITY NUMBER: SC043190 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S FOR HAMILTON GYMNASTICS CLUB SCIO McDaid & Partners Chartered Accountants Statutory Auditors Stanley House 69171 Hamilton Road Motherwell Lanarkshire MLI 3DG
HAMILTON GYMNASTICS CLUB SCIO CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Report of the Independent Auditors Statement of Finan¢ig1 Aetivities Balance Sheet io Cash Flow Statement Notes to the Cash Flow Statement 12 Notes to the Financial Ststements 13 to 21 Detailed Ststement of FinAncial Activities 22 to 23
HAMILTON GYMNASTICS CLUB SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and A¢¢ounting 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)." Hamilton Gymnastics SCIO (SC043190) OBJECTIVES AND ACTIVITIES Objectives and aims The primary objective of the organisation is to promote the amateur sport of gymnastics in Hamilion and the surrounding area and the advancement of public participation in sport. SignificAnt activitie$ We offer the following disciplines in gymnastics: Recreational. pre-school. women's and men's artistic, acro, tumble, freestyle, display. disability and floor and vault competition gymnastics. We operated from 2 centres. These were Units 3-10 Blantyre and Eddlewood Sports Barn. Our Young leader training programme is going well and is ensuring we have constsnt stream of new and keen coaches. Young volunteers are offered their UKCC level qualification and volunteer to assist with increasing class demand. We now have 10 employed staff and a part time caretaker. The Modern Apprenticeship options have ¢hanged so we have been able to offer this opportunity. We put our coaches and older gymnast5 through further qualifications and training to ensure our members are trained to the highest of standards. ACHIEVEMENTS AND PERFORMANCE Charitable Activities The focus of the organisation is to develop and implement a programme which brings gymnastics to the heart of the community in an effort to engage young people in the pursuit of healthy sporting physical activities. Fundraising activities The members of the charity atTange ndraising activities to further promote the club and a5SiSt financially with the ongoing running costs of the charity. The main fundraising event is held at the annual inhouse competitions and Invitational ¢ompetitions. Internal and externAI factors The organi5ation has historically used external coaches but the trustees have identifIed this as a potential risk to the organisation. We have increased our number of employed ¢oa¢hes over the last few years and also taken on another modern apprentice to ty and alleviate this risk. We have also increased our young leader training programme to ensure we have a continuous stream of new coaches allowing us to ensure we have a strong and motivated team. FINANCIAL REVIEW PrineipAI funding sources The main funding for Hamilton Gymnastics Club is from Glub fees and fundraising events. Page I
HAMILTON GYMNASTICS CLUB SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW Reserves policy The organisation had a deficit of £75,574 (2024 £82.118 surplus) for the year and at the financial year end held unrestricted funds of £477,601 (2024 £553,175). The board consider the general fund balance will enable the continuation of the activities of the programme for the forthcoming year and support expansion plans. The reserves of the charity are as described in the accounting policies. It is the policy of the charity to build up unrestricted funds equated to approximately 3 months unrestricted expenditure to provide enough resources to meet ongoing projects and closure costs if required. FUTURE PLANS The organisation in the year 25126 aim to increase revenue, educate our coaches and strive towards more National representation at competition. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Hamilton Gymnastics Club is a Scottish Charitable Organisation and is governed by their constitution. Charity constitution The constitution was amended in 2019 to allow for trustees to be employed members of staff within the organisation. Payments to trustees can be made as long as it is in the best interest of the charity to do 50 and less than half the total number of trustees are paid. Recruitment and appointment of new trustees The club board are appointed and re-appoinled by the members at the annual general meeting ea¢h year. Organisational structure The organisation is managed and controlled by a board of trustees which must contain a minimum of 3 and a maximum of 8 members. The organisation also has members. and membership is open the anyone over the age of 16 who has an active role within gymnastics. Members have the right to attend members meetings and appoint people to serve on the board. Decision making The day to day running of the organisation is undertaken by Se¢r¢tary Ruth Gibson and Twstee Wendy Lu¢&s with the Board of Trustees being the overall decision makers. Induction and training of new trustees Board members undertake basic training to ensure they are aware of the legal obligations of charity law. Prior to their invitations to take up their posts they are already aware of the practical work undertaken by the charity. Key management remuneration Salaries of key personnel are decided and approved at board level. They review annual Salaries of similar position5 of other organisations and decide on appropriate level based on this r¢view. Wider network Hamilton Gymnastics Club is independent and has no affiliation with any other charity, however they do adhere to the pwti¢es and policies set out by Scottish Gymnastics. Related parties The charity has no known related parties. Page 2
HAMILTON GYMNASTICS CLUB SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMEIYT Risk management The trustees have a duty to identify and VIeW the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and etror. They do this through maintaining and updating a risk register. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC043190 Auditors McDaid & Partners Chartered Accountants Statutory Auditors Stsnley House 69171 Hamilknn Road Motherwell Lanarkshire MLI 3DG Page 3
HAMILTON CYMNASTICS CLUB SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustee5 of Hamilton Gymnastics are r¢spoT]sible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Unifrd Kingdom Accounling Standards (United Kingdom Generally Aepted Accountin8 Practice). Charity law requires the trustees to prepare financia] statements for each fInancial year which givc a true and fair view of the state of affairs of the charitable organisation and income and expenditure, of the charitable organisation for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estirnates that are reasonable and prudent- stsle whether applicable accounting standards have been followed, subject to any rnaterial departures disclosed and explained in the financial stalemcnts. prepare the financial slatements on the going concern basis unl¢ss it is inappropriate to presume that lh¢ ¢harity will continue in business. The trustees are responsible for keeping proper 8ccounting records which disclose with reasonable a¢¢ura¢y at any ttme th¢ financial posilion of the charitable organisalion and to enable them to ensur¢ that the financial statements comply with all governing bodies. They are also r¢sponsibl¢ ft)r Safeguarding the assets of the charitable organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. Approved by order of the board of trustees on ............ .. .... - and signed on its behalf by: Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HAMILTON GYMNASTICS CLUB SCIO Opinion We have audited the financial statements of Hamilton Gymnastics Club SCIO (the '¢harity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and notes to the finan¢ial 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). In our opinion the financial statements- give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Account5 (Scotland) Regulations 2006. 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 de5¢ribed in the Auditors, responsibilities for the audit of the financial statements se¢tion of our report. We are independent of the charity in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard. and we have fulfilled our other ethical responsibilities in a¢cordance with these requirements. We believe that the audit evidence we have obtained is sufFi¢ient and appropriate to provide a basis for our opinion. Conclusions relating to going coneern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the prepardtion 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 inforniation. The other inforniation wmprise5 the inforniation 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 expres5 any form of assurdnce 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 misstalements, we are required to detem)ine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomed. we conclude that there is a material mi5Statement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HAMILTOIN GYMNASTICS CLUB SCIO Matters on whieh we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respe¢t of the following matters where the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion.. adequate and proper a¢¢ounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the ac¢ounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Ststement of Trustees, Responsibilities, the trustees are responsible for the pparation of the financial statements whi¢h give a true and fair view, and for such intemal 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 concem, 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 altemative but to do so. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HAMILTON CYMNASTICS CLUB SCIO Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 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 an audilor's report that includes our opinion. Reasonable assurance 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 reasonable be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, ineluding fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined &bove, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is detailed below. evaluates the appropriateness of accounting policies used and reasonableness of accounting estimates. obtains an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the Circumstances. conclude on the appropriateness of the trustee's use of the going ¢on¢ern basis of accounting and,based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on ihe entity's ability to continue as a going concern. identify and assess the risks of material misstatement of the entity's finan¢ial statements, whether due to fraud or error, designs and performs audit procedures responsive to those risks, and obtains audit evidence that is sufficient and appropriate to provide a basis for the auditor's opinion. obtain an understanding of the legal and regulatory frameworks that are applicable to the entity and design audit pro¢edures that are appropriate in the circumstances. design and implement audit pmcedures to identify non - compliance with the direct and indirect laws and regulations specific to the nature of the entity. enquires of management in relation to their assessment of the susceptibility of the finan¢ial statements to material misstatement or their knowledge of any actual, suspected, or alleged fraud. there is a presumed significant risk associated with income recognition therefore appropriate audit procedures are designed and implemented to obtain appropriate audit evidence tr) support the auditor's opinion. there is a presumed Significant risk associated with management override therefore appropriate audit procedures are designed and implemented to obtain appropriate audit evidence to 5UPPQrt the auditor's opinion. design and implement audit procedures to identify related parties, unusual or unexpected transactions that are appropriate in the circumstances and obtain appropriate audit evidence to support the auditor's opinion and disclosures within the financial statements. 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 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HAMILTON GYMNASTICS CLiiB SCIO Use of our report This report is made solely to the charity's trustees, a5 a bodyy in accordance wilh Regulation l O of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the chariws trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than th¢ Charity and the charity's trustees as a body, for our audit work. for this report. or for thc opinions we have formed. Page 8
HAMILTOIY GYMNASTICS CLUB SCIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 123,249 Charitable activitÉes Gymnastics ¢lub 673,362 673.362 664.950 Other trading activities Investment income Other income 35,040 1,601 35,040 1.601 29,967 1.668 1.343 Total 710.003 710,003 821.177 EXPENDITURE ON Charitable activities Gymnastics club 785,577 785.577 739.059 NET INCOMEI(EXPENDITURE) (75,574) (75,574) 82,118 RECONCILIATION OF FUNDS Total funds brought fonvard 553.175 553,175 471,057 TOTAL FUNDS CARRIED FORWARD 477.601 477,601 553,175 The note5 form part of these financial statements Page 9
HAMILTON GYMNASTICS CLUB SCIO BALANCE SHEET 31 MARCH 2025 31.3.25 Total runds 31.3.24 Total funds Unrestricted funds Restri¢t¢d fjjnds Notes FIXED ASSETS Tangible assets 320,674 320.674 369,404 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 291 10,126 171.346 291 10.126 171,346 1,713 6,682 194.689 181,763 181,763 203.084 CREDITORS Amounts falling due within one year 14 (24,836} (24,836) (19.313) NET CURRENf ASSETS 156 927 156 927 183 771 TOTAL ASSETS LESS CURRENT LIABILITIES 477,601 477,601 553,175 NET ASSETS 477,601 477,601 553 175 FUNDS Unrestricted funds 15 477 601 553 175 TOTAL FUNDS 477 601 553 175 The financial statements were approv¢d by the Board of Trustees and authorised for issue on and were signed on its behalf by: The notes forni part of these financial statements Page 10
HAMILTON GYMNASTICS CLUB SCIO CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 Notes Cash flows from opergting activities Cash generated from operations 18.805) 240,975 Net cash (used in)Iprovided by operating activities 18,805) 240 975 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (6,139) (229,456) 3,100 1,668 Net cash used in investing activities 224,688) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (23,343) 16,287 194 689 178,402 Cash and cash equivalents at the end of the reporting period 171,346 194,689 The notes fomi part of these financial statements Pagell
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE CASH FLOW STA TEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET (EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.25 31.3.24 Net (expenditure)lincome 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 stocks (In¢aSe)IdecreaSC in debtors Increasel(decrease) in creditors (75,574) 82.118 54.869 45,554 (1.343) (1,668) 1,003 130.958 15,647) (1,601) 1.422 (3,444) Net cash (used in)Iprovided by operations 18,805) 240.975 AIYALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net eash Cash at bank and in hand 194,689 23,343) 171.346 194,689 171,346 Total 194,689 23,343 171.346 The notes form part of these financial statements Page 12
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the finaneial 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 iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost Convention, as modified by the revaluation of certain assets. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income All income is re¢ognised 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.The following sp¢¢ifi¢ policie5 are applied to particular categories of in¢ome-. Income received by way of grants, donations and fees are included in fiill in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific perforniancc by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Income is only deferred when.. The donor specifies that the grant or donation must only be used in future a¢¢ounting period5- or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Investment income is included when receivable. 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 ¢osts cannot be directly attributed to particular headings they have been allocated to activities on a basis ¢onsistent with the use of resource5. Allocation and apportionment of costs Charitable activities expenditure comprises those costs incurred by the Gharity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs whether to support the charity or to directly assist can be regarded as a result of the organisations charitable activities. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the harity and include the audit fees and costs linked to the strategic managem¢nt of the charity. TAngible fixed 4$5¢ts Deprecialion is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property Equipment IO% oncost IO% on cost Page 13 continued..
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- continued Stocks Stocks are valued at the lower of cost and nel reali5able value. after making due allowance for obsolete and slow moving items. 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. 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. Finaneial instruments Trade debtors Trade debtors are amounts due from customers for goods or services perfornied in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairnient. A provision for the impainnent of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original ternis of the receivables. Trade Creditors Trade creditors are amounts due to suppliers for goods or servi¢es obtained in the ordinary course of busine5S. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised ¢ost using the effective interest method. Accounts payable are Glassified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Cash Cash and cash equivalents are basic finan¢ial assets and include cash on hand, deposits held at call with banks. other short-tern] liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. OperAting leAsing commitments Rentals paid under operating leases are charged to the 5tat¢m¢nt of financial activities on a straight line basis over the period of the lease. Government grants Government grants are eligible for recognition within the financial stat¢m¢nts once they become receivable. Page 14 ontinued...
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 31.3.25 31.3.24 Grants 123.249 Grants received, included in the above. are as follows- 31.3.25 31.3.24 Sport Scotland SSE Grant 107.070 123,249 OTHER TRADING ACTIVITIES 31.3.25 31.3.24 Fundraising events 29,967 INVESTMENT INCOME 31.3.25 31.3.24 Deposit account interest 1,601 1.668 INCOME FROM CHARITABLE ACTIVITIES 31.3.25 31.3.24 Activity Gymnastics club Fees & event income 673,362 664,950 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totsls Gymnastics club 776 625 785,577 Page 15 continued...
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 SUPPORT COSTS Govemance costs Gymnastics club 8,952 TRUSTEES, REMUNERATION AND BENEFITS 31.3.25 31.3.24 Trustees, salaries Trustees, social security Trustees, pension contributions to money purchase schemes 68,000 6,874 1,666 53,500 4,873 1.231 76,540 The organisations constitution was atnended in 2019 to allow trustees to become employed members of staff if they act in a¢¢ordance with the charity's best interest. During the year two trustees received payments in respect of coaching services to the charity. Trustees, expenses There were no trustees, expenses paid for the year ended 31 Mar¢h 2025 nor for the year ended 31 March 2024. STAFF COSTS 31.3.25 31.3.24 Wages and salaries Social security costs Other pension costs 275,110 18,998 6,225 240,763 13,703 5,173 300 333 259.639 The average monthly number of employees during the year was as follows: 31.3.25 31.3.24 li Wages No employees received emoluments in excess of £60.000. Page 16 continued...
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 123,249 123.249 ChirKtable activities Gymnastics club 664,950 664.950 Other trading activities Investment income Other income 29,967 1,668 1.343 29,967 1.668 Total 821.177 821 177 EXPENDITURE ON Charitable Activities Gymnastics club 739,059 739,059 NET INCOME 82,118 82.118 RECONCILIATION OF FUNDS Total funds brought forward 471,057 471,057 TOTAL FUNDS CARRIED FORWARD 553,175 553.175 ii. TANGIBLE FIXED ASSETS Improvements to property Freehold property Equipment Totals COST At l April 2024 Additions 40,000 161,340 3,805 494.022 2.334 695,362 6.139 At 31 March 2025 40,000 165.145 496.356 701,501 DEPRECIATION At l April 2024 Charge for year 60,942 16.166 265,016 38.703 325.958 54.869 At 31 March 2025 77,108 303.719 380.827 NET BOOK VALUE At 31 March 2025 88,037 192,637 320,674 At 31 March 2024 40.000 100.398 229,006 369,404 Page 17 continued..
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ii. TANGIBLE FIXED ASSETS- continued The freehold property has been restated to the market value as provided by Soulh Lanarkshire Council at the date of purchase in 2012. The trustees believe the market value at the year ended 31 March 2025 was of a similar value. 12. STOCKS 31.3.25 31.3.24 Stocks 291 1.713 13. DEBTORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade debtors Other debtors Prepayments and accrued income 5,426 704 3,996 5,923 309 450 10,126 6,682 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade creditors Other creditors 8.775 16,061 6,361 12.952 24.836 19.313 15. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund Fixed a55ets 553.175 (64,867) 10.707) 488.308 10.707) 553.175 477.601 TOTAL FUNDS 553.175 75,574) 477.601 Page 18 continued.
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMEIYTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued Net movement in fund5, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Fixed assets 710,003 (774.870) 10,707) (64,867} 10,707) 710.003 785.577 TOTAL FUNDS 710 003 785 577) 75,574) Comparatives for movement in funds Net movement in funds At 31.3.24 At 1.4.23 Unrestri¢ted fund5 General fund Fixed assets 471.057 (.19.598) 101,716 451,459 101716 471.057 82.118 553.175 TOTAL FUNDS 471.057 82.118 553.175 Comparative net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestricted funds General fund Fixed assets 714,107 107.070 (733,705) (19,598) 101,716 821,177 739.059 82.118 TOTAL FUNDS 821,177 739.059) 82,118 Page 19 continued...
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.25 At 1.4.23 Unrestricted fund$ General fund Fixed assets 471,057 (84,465) 91.009 386,592 91,009 471,057 6,544 477,601 TOTAL FUNDS 471,057 6.544 477.601 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Fixed assets 1,424.110 107,070 (1.508,575) 16.061) (84,465) 91.009 1531,180 (1,524,636 6.544 TOTAL FUNDS 1531,180 (1,524,636 6,544 During the year 2024 grant funding of £107,070 was received in relation to a large capital project. This funding has been classed as a fixed asset fund and future depreciation charge will be released against this fund. All other income received in the period was unrestricted and released as such. 16. CONTINGENT LIABILITIES There 15 an ongoing review of Giftaid re¢¢ived by the organisation. whereby a claw back of income received is likely. The amount at this time, 15 unknown. Page 20 continued...
HAMILTON GYMNASTICS CLUB SCIO NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. OTHER FINANCIAL COMMITMENTS The organisation has future operating lease commitments of £1,553,124 (2024 £1.558,920) 18. RELATED PARTY DISCLOSURES W Lucas is a member of Hamilton Sports Council there were no transaction5 in the current or prior year. Page 21
HAMILTON GYMNASTICS CLUB SCIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR EIYDED 31 MARCH 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donations And legacies Grants 123,249 Other trading activitie5 Fundraising events 35,040 29,967 Investment income Deposit account interest 1,601 1,668 Charitable activities Fees & event income 673,362 664.950 Other income Gain on sale of tangible fixed assets 1.343 Total incoming resources 710,003 821,177 EXPENDITURE Charitable activities Tru5tees' salaries Trustees, social security Trustees, pension ¢ontributions Wages Social security Pensions Insurance Heat & light Telephone Stationery & adverts Rent & rates External coaches Courses Travel expenses Clothing costs Professional fees Repairs & renewals General expenses Bank charges Bad debt Depn of property improvements Depn of equipment 68,000 6.874 1.666 207,110 12,124 4,559 6.232 38,225 1.742 5.146 135,921 172,157 9,446 12.634 1,651 3.234 22,742 718 10.522 1,053 16.166 38.703 53,500 4,873 1.231 187,263 8,830 3,942 5.722 46,987 3,299 5,872 125.640 177,741 1,152 7,823 96 1,622 18,886 1.491 24.802 3,508 12.783 32.771 776,625 729,834 This page does not fonn part of the statutory financial statements Page 22
HAMILTON GYMNASTICS CLUB SCIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 Support eosts Goverllance costs Auditors, remuneration Auditors, remuneration for non audit work 6,600 2.352 6.950 9,225 Total resources expended 785 577 739.059 Net (expenditure)lincome 75.574) 82.118 Thi5 page doe5 not forni part of the statutory financial statements Page 23