**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 :
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- 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':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- 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);
- 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$ wn*Jinedp)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$irlri*d 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