REGISTERED CHARITY NUMBER: SC048070
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
for
Aboyne Gymnastics & Trampoline Club SCIO
The Grant Considine Partnership Chartered Accountants
46 High Street Banchory Aberdeenshire AB31 5SR
Aboyne Gymnastics & Trampoline Club SCIO
Contents of the Financial Statements for the Year Ended 31 July 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
Aboyne Gymnastics & Trampoline Club SCIO
Report of the Trustees
for the Year Ended 31 July 2024
The trustees have pleasure in presenting their report together with financial statements for the year to 31 July 2024.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The organisation is established for charitable purposes, a public benefit entity with the objectives of advancing public participation in sport, and advancing health, by providing the opportunity for all to take part in Gymnastics activities in Aboyne and the surrounding area.Training is based at Unit 6, Low Road, Aboyne, AB31 5GW.
Significant activities
The charity provides a safe environment to train in the gymnast's chosen discipline. Training takes place Monday to Friday after school and Saturday mornings, as well as offering holiday clubs outside of normal term time. There are currently four different levels of ability that the gymnasts can chose from- beginner, recreational, competitive, and preschool.
Sessions are provided to stimulate the children, encouraging their development in a safe and caring environment.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Demand for a place at the Club is still high with a healthy waiting list and our gymnasts are participating and winning medals and trophies at many competitions around Scotland.
Fundraising activities
Various fundraising activities have been undertaken, and will continue to be pursued in order to increase the funds available in the Club.
FINANCIAL REVIEW
Financial position
Our main source of funding is fees which are charged to participating members. For the period of account, we have received £51,962 from charitable activities. This comprises fees, money to cover club leotards, and fundraising. Our fundraising activities generated £1,187.
At 31 July 2024, there are net assets available of £20,011 and funds available in free reserves of £20,011. The surplus for the year was £6,479 (2023 deficit £11,478).
Reserves policy
The unrestricted general fund represents the free reserves available to the charity to fulfil its primary objectives. Any restricted funds are set up based on the restrictions placed on the income at the time of receipt.
Income is received throughout the year, but the Charity aims to hold a minimum of 3 months of expenditure within free reserves. (Approximately £8,000).
Going concern
The Trustees have considered all information relating to the Club. Currently the Trustees are of the opinion that the Club will be able to continue operation and enhance its activities going forward.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the constitution, and is a Scottish Charitable Incorporated Organisation (SCIO).
The charity has a single tier structure and as such the trustees are the members of the charity.
Recruitment and appointment of new trustees
The management committee, which normally meets once a term or when needed, are the charity's trustees. Membership of the management committee is open to all parents and guardians of the Club.
Trustees are elected at the annual general meeting which is held in June. There must be a minimum of four trustees.
Page 1
Aboyne Gymnastics & Trampoline Club SCIO
Report of the Trustees for the Year Ended 31 July 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The structure of the organisation consists of the charity trustees who are also the organisation's only members and comprise the organisation's board.
Decision making
Any trustee may call a meeting of the Board, with appropriate notice being given. Decisions are made by majority vote with each trustee having one vote. Quorum is four trustees.
Key management remuneration
No trustee may be given remuneration by the organisation for carrying out his/her duties as a trustee.
However, where a private interest has been declared, and the trustee concerned has not voted on the arrangement, then the trustee may enter an arrangement with the organisation for remuneration that is not part of regular trustee duties.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
SC048070
Principal address
Unit 6 Aboyne Industrial Estate Low Road Aboyne Aberdeenshire AB34 5GW
Independent Examiner
The Grant Considine Partnership Chartered Accountants 46 High Street Banchory Aberdeenshire AB31 5SR
Approved by order of the board of trustees on 9 April 2025 and signed on its behalf by:
Page 2
Independent Examiner's Report to the Trustees of Aboyne Gymnastics & Trampoline Club SCIO
I report on the accounts for the year ended 31 July 2024 set out on pages four to ten.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
The Grant Considine Partnership Chartered Accountants 46 High Street Banchory Aberdeenshire AB31 5SR
9 April 2025
Page 3
Aboyne Gymnastics & Trampoline Club SCIO
Statement of Financial Activities
for the Year Ended 31 July 2024
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1 - Charitable activities 3 Gymnastics and Trampolining 53,149 - Total 53,150 - EXPENDITURE ON Charitable activities Gymnastics and Trampolining 44,595 - Other 2,076 - Total 46,671 - NET INCOME/(EXPENDITURE) 6,479 - RECONCILIATION OF FUNDS Total funds brought forward 13,532 - TOTAL FUNDS CARRIED FORWARD 20,011 - |
2024 Total funds £ 1 53,149 53,150 44,595 2,076 46,671 6,479 13,532 20,011 |
2023 Total funds £ - 44,380 44,380 54,845 1,013 55,858 (11,478) 25,010 13,532 |
|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 4
Aboyne Gymnastics & Trampoline Club SCIO
Statement of Financial Position
31 July 2024
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 6 6,062 - CURRENT ASSETS Stocks 7 2,364 - Debtors 8 1,705 - Cash at bank 10,963 - 15,032 - CREDITORS Amounts falling due within one year 9 (1,083) - NET CURRENT ASSETS 13,949 - TOTAL ASSETS LESS CURRENT LIABILITIES 20,011 - NET ASSETS 20,011 - FUNDS 11 Unrestricted funds TOTAL FUNDS |
2024 Total funds £ 6,062 2,364 1,705 10,963 15,032 (1,083) 13,949 20,011 20,011 20,011 20,011 |
2023 Total funds £ 8,813 803 1,337 3,539 5,679 (960) 4,719 13,532 13,532 13,532 13,532 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 April 2025 and were signed on its behalf by:
The notes form part of these financial statements
Page 5
Aboyne Gymnastics & Trampoline Club SCIO
Notes to the Financial Statements for the Year Ended 31 July 2024
1. PRESENTATION CURRENCY
The presentation currency of the financial statements is the Pound Sterling (£).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
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the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
-
the requirement of paragraph 33.7.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The Charity is not registered for VAT.
Income from Government and other grants is recognised when the Charity is entitled to the funds and any conditions attached to the grants have been met, it is probable that the income will be received and the amounts can be measured reliably and is not deferred.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets and depreciation
Tangible fixed assets costing more than £500 are capitalised and carried at cost. Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets by equal annual instalments over their expected useful lives. The periods generally applicable are:
Improvements to property 20% on cost Plant and machinery 25% on reducing balance
The fixed assets are used in direct furtherance of the charity's objectives.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Page 6
continued...
Aboyne Gymnastics & Trampoline Club SCIO
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
2. ACCOUNTING POLICIES - continued
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.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.
They are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
3. INCOME FROM CHARITABLE ACTIVITIES
| Activity Income charitable activities Gymnastics and Trampolining Fundraising Gymnastics and Trampolining |
2024 £ 51,962 1,187 53,149 |
2023 £ 42,969 1,411 |
|---|---|---|
| 44,380 |
4. TRUSTEES' REMUNERATION AND BENEFITS
During the year no Trustees received remuneration for coaching services to the club. (2023-£nil).
Trustees' expenses
There were no expenses relating to the normal operations of the Club reimbursed to trustees during the year. £21 was reimbursed to one trustee in 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities Gymnastics and Trampolining 44,380 - EXPENDITURE ON Charitable activities Gymnastics and Trampolining 54,845 - Other 1,013 - Total 55,858 - NET INCOME/(EXPENDITURE) (11,478) - RECONCILIATION OF FUNDS Total funds brought forward 25,010 - |
Total funds £ 44,380 54,845 1,013 55,858 (11,478) 25,010 |
|---|---|
continued...
Page 7
Aboyne Gymnastics & Trampoline Club SCIO
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ TOTAL FUNDS CARRIED FORWARD 13,532 - 6. TANGIBLE FIXED ASSETS Improvements to Plant and property machinery £ £ COST At 1 August 2023 and 31 July 2024 8,652 15,648 DEPRECIATION At 1 August 2023 3,920 11,567 Charge for year 1,730 1,021 At 31 July 2024 5,650 12,588 NET BOOK VALUE At 31 July 2024 3,002 3,060 At 31 July 2023 4,732 4,081 7. STOCKS 2024 £ Stocks 2,364 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Trade debtors 1,705 |
Total funds £ 13,532 Totals £ 24,300 15,487 2,751 18,238 6,062 8,813 2023 £ 803 2023 £ 1,337 |
Total funds £ |
|---|---|---|
| 13,532 | ||
continued...
Page 8
Aboyne Gymnastics & Trampoline Club SCIO
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
2024 £ 93 990 1,083 |
2023 £ 30 930 |
|---|---|---|
| 960 |
10. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Within one year | 13,800 | 13,800 | |
| Between one and five years | 5,750 | 19,550 | |
| 19,550 | 33,350 | ||
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | At | ||
| At 1.8.23 | in funds | 31.7.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 13,532 | 6,479 | 20,011 |
| TOTAL FUNDS | 13,532 | 6,479 | 20,011 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,150 | (46,671) | 6,479 |
| TOTAL FUNDS | 53,150 | (46,671) | 6,479 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.8.22 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 25,010 | (11,478) | 13,532 |
| TOTAL FUNDS | 25,010 | (11,478) | 13,532 |
11. MOVEMENT IN FUNDS
continued...
Page 9
for the Year Ended 31 Ju 2024 ii. Con]paratii"e net in Incl in the aboi"e a &8 follo.. LDrestricted fimds Generdl fid 44.380 (55.858) (11.478) TOTAL FLTh 44.380 (55.858) (11.478) A ¢wr1 year 12 atyj or year 12 th$ wnJinedp)sill is as follo. Net moi"esn¢ Al 31.7.24 1.8.22 Inrestitrted funds Getieral fimd 25.010 (4.999) 20.011 TOTAL FLThT)S 25.010 (4.999) 20.011 A currelll year 12 montlL8 alld yeaT 12 CODthiDed net in fiuds. illcluded in are a5 follows.. IncLMniuB ResoUe$ Movanait exPded in funds l ttre$irlrid fullds 97.530 (102.529) (4.999) TOTAL FLThI)S 97.530 {102.529) (4.999) 12. RELATED PARTY DtSCLOSiI¢ES . .5 aptninted Tniftee nn FehnTln" :Ofj.l and was actin8 as len]rnrary Treasurer for the cliil) IlLlllll4 Ilie accoulltiti8 wiod is a paid coach for tbe club. This wiN?te llileresl h&s been (kclared. Pa8e 10