Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj CHARITY NO: SC048271 DUNDONALD GYMNASTICS CLUB REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB REPORT AND FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 DECEMBER 2024 PAGE Reference and Administrative information Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balan Sheet Notes to the Financial Statements 7-13
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB REPORT AND FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Principal Office: 4 Esk Road Troon Ayrshire KA10 7EH Charlty Number: SC048271 Independent Examlner: Wbg Services LLP 168 Bath Street Glasgow G2 4TP Bank: TSB PO Box 373 Leeds LS14 9GQ
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB R8POrt of th8 Trustees for the year 8nded 31 Dec8mber 2024 The Trustees present their annual report and ffinancial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constituts'on, the Charities and Trustee Investment (Scottandl Act 2005, the Chartties Accounts (Scotland} Regulations 2006 and Accounting and Reporting by Charities" Statement of Recommended Practice applicable to charrties prepanng their accounts in accordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland. The legal and administrats.ve information on page one fomis part of this report. ObJ8ctlves and Activltles The provision of recreational faciltb.es and organisations of recreational activib'es. providing aCsS for all. including disabled people wtth the object of improving the condition of life for the persons for whom the facility and activities are intended. The advancement of public participation in sport. providing access to the highest standard of coaching and training, developing a pathway to all levels of participation in gymnastics. dance and exercise. structur8, Governanc8 and Management The charity is a Scottish Charitable Incorwrated Organisation {SCIO) governed by its constitution which was registered wrth the Office of the Scotbsh Chanty Regulator on 4 April 2018. Financial Review The charity's incoming resources for the year were £362.137 (2023: £351.8331. Total resources expended were £329.326 (2023.. £341,123) leaving a surplus of £32,811 12023: £10,710) at the year end. Reserves Policy It is the policy of the charity to maintain unrestricted frjnds. lch are the general free reseNes of the charity. at a level to provide sufficient fvnds to cover costs for approximately 3 months. At current spending leve15 this would equate to approximately £82,33212023. £85.281 }. The general free reserves of the charty as at the year end 31 December 2024 are £94,36412023: £54.176) which is above the tsrget level.
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB R8POrt of th8 Trustees for the year 8nded 31 Dec8mber 2024 Trustees, responslbllltles In relatlon to the flnanclal sL*ements The charty trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and Untied Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting prath'). The law applicable to chartbes in Scolland requires the chartty trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resour5. of the charity for that year. In preparing the financial statements, the trustees are required to" select suitable accounting poliaes and then apply them consistently., observe the meth¢JJs and prinCIeS in the applicable Charities SORP" make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed. subject to any material departures disdosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charty will continue in business. The trustees are responsible for keeping adequate acccNJnting records that disclose with reasonable accuracy at any time the financial positTron of the chanty and to enable them to ensure that the finanual ststements comply wth the Chanknes and Trustee Investment Iscotland) Act 2005, the Charty Accounts (Scotlandl Regulations 2006, and the provisions of the charrty's constitution. They are also responsible for safeguarding the assets of the charity and tsking reasonable steps the prevention and detectK)n of fraud and other irregularits-es. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charty's website. Legislation in the Unrted Kingdom goveming the preparation and dissemination of financial statements may drffer from legislation in other jurisdictions. Approved by the truslees on and signed on their behalf by= Date.. 32 June 2025
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj INDEPENDENT EXAMINER REPORT TO THE MEMBERS OF THE DUNDONALD GYMNASTICS CLUB FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts of the chanty for the year ended 31 December 2024. which are set out on pages 5 to 13. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the temis of the Charities and Trustee Investrnent {Scoland} Act 2005 and the Charib'es Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10{1) (a) to (c) of the Accounts Regulations does not apply. It is my resp)nsibilty to examine the accounts as required under section 4411) (cl of the Act and to state whether particular matters have come to my attenti. Basls of Independent examlnor's sLitem8nt My examination is carried out in accordance wth Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination indudes a review of the accounting records kept by the chanty and a cc¥nparison of the accounts presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeks explanath)ns from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequenliy I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examinatDn. no matter has come to my attents'on which gives me reasonatAe cause to believe that in any material respects the requirements" to keep accounting records in accordance wth Section 44 {11 (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and to prepare accounts which accord with the accounting records and comply wf(h Regulation 8 of the 2006 Accounts RegulatK)ns 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. Wbg Services LLP 168 Bath Street Glasgow G2 4TP Date.. 16 June 2025
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| Note Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 £ £ £ £ £ £ Income and endowments from: Donations and legacies 4 335,089 - 335,089 300,402 7,377 307,779 Other trading income 5 12,751 - 12,751 33,210 - 33,210 Other incoming resources 6 14,297 - 14,297 10,844 - 10,844 Total Income 362,137 - 362,137 344,456 7,377 351,833 Expenditure on: Raising funds Raising donations & legacies 7 11,022 - 11,022 5,981 - 5,981 Charitable activities 8 317,714 590 318,304 335,142 - 335,142 Total Expenditure 328,736 590 329,326 341,123 - 341,123 Net income/(expenditure) 33,401 (590) 32,811 3,333 7,377 10,710 Transfers between funds 6,787 (6,787) - - - - Net movement in funds 40,188 (7,377) 32,811 3,333 7,377 10,710 Funds reconciliation Total Funds brought forward 13 54,176 7,377 61,553 50,843 - 50,843 Total Funds carried forward 13 94,364 - 94,364 54,176 7,377 61,553 |
351,833 | 5,981 335,142 |
341,123 | 10,710 - |
10,710 50,843 61,553 |
|---|---|---|---|---|---|
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB BALANCE SHEET AS AT 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 Note Flxed assets: Tangible fixed assets Total flxed assets 11 43.764 43.764 19,384 19,384 Current assets." Cash at bank and in hand Tolal current assets 53.417 53,417 44,414 44,414 Liabilities: Creditors falling due within one year 12 (2.817) 50.600 {2.2451 42,169 Net current assets Total assets less current Ilabililles 50.6C(I 42.169 Net assets The funds of the charlty.. Unrestricted income funds Restricted funds 94.364 61,553 13 13 94.364 54,176 7,377 61,553 Total charlty funds 94.364 Approved by the twstees on and signed on their behalf by: Date. 12 June 2025
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountlng Pollcles (a) Basis of preparation and assessment of going concern The accounts {ffinancial ststements) have been wepared under the historical cost convention wrth items recognised at cost or transaction value unless otherwise stated in the relevant note{sl to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Pracb"ce.' Account'ng and Reporting by Charit'es preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}, the Charrties and Trustee Investment (Scotland} Act 2005 and the Charities Acwunts {Scotland} Regulations 2006. The trust constitutes a public benefft entty as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The trustees consider that there are no material uncertainties about the Twst's abilty to continue as a going concem. Ibl Funds structure Unrestricted income funds compnse those fijnds which the trustees are free to use for any purpose in furtherance of the charitable ofy'ects. Unrestricted funds indude designated funds where the trustees. at their discretion. have created fvnds for specffic purposes. Restricted funds are funds which are to be used in accordance wth specrfic restrictions imposed by the donor or trust deed. or through the tem)s of an appeal. Further details of each fund are disdosed in note 13. (c) Income recognition Income is recognised On the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations. are recognised when the Trust has been notffied in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance before the charity is ented to the fijnds. the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the Contr of the charity and f( is probable that those conditions will be fulfilled in the reporb'ng year. Legacy grfts are recognised on a case by case basis fcllowng the confimiatK)n of estate when the administratorlexecutor for the property has communicated in writing both the amount and settlement date. In the event that the gift is in the fomi of an asset other than cash or financial asset traded on a recognised stock exchange. recognikn'on is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charty.
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountlng Pollcles (contlnued) (c) Income recognition (continued) Interest on funds held on deposit is induded when re1vable and the amount can be measured reliably by the charity., this is nomially upon notification of the interest paid or payable by the bank. Dividends are recognised On the dividend has been declared and notffication has been received of the dividend due. This is normally upon notffication by our investment adwsor of the dividend yield of the investment pcrfolio. Income from government and other grants. whether'caprtal. or 'revenue' grants. is recognised when the charity has entidement to the fijnds. any perfornian conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. (d) Expendlture recognltlon 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 settlement wll be required and the amount of the obligation can be measured reliably. All expendrture is accounted for an accruals basis. All expenses induding support costs and govemance costs are allocated or apportioned to the applicable expenditure headings. For more infomiation on this attnbution refer to note lfj below. Costs of raising funds comprise the cost of the development officer Expenditure on chariiable aclivibes indudes grants payable and other actNities undertaken to further the purposes of the charity. Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an uncondib.onal grant offer this is accrued once the recipient has been notified of the grant award. The notrfication gives the recipient a reasonable expectalion that they will receive the one-year or multi-year grant. Grants awards that are subject to the reapient fulfilling perft)rmance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled COnd'0n attaching to that grant is outside of the control of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable. The provision for a multi-year grant is recojnised at f(s present value where setuement is due over more than one year from the date of the award, there are no unfulfilled performan condtbons under the control of the Trust that would pemiit the Trust to avoid making the future paymentls). settlement is probable and the effect of discounting is matenal. The discount rate used is the average rate of investment yield in the year in which the grant award is made. This discount rate is regarded by the trustees as providing the most current available estimate of the OPkK)rtunty cost of money refiecting the tsme value of money to the Trust.
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountlng Pollcles (contlnued) (e) Donated services and facilities Donated professional services and donated faciliiies are recognised as income when the charity has control over the f(em. any conditions associated wth the donated item have been met. the receipt of economic benefit from the use by the charity the item is probable and that economic benefft can be measured reliably. On receipt. donated professional ServIS and donated faalities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefft on the open market" a corresponding amount is then reccgnised in expenditure in the year of reipt. (n Allocatlon of governance costs Governance costs compnse the independent examination fee and professional fees incued. Governance costs are all¢xated directly to the costs of charitable activities. Ig) Tangible fixed assets Ail assets costing more than £250 are capitalised and stated at historical cost. Depreciation is charged as follows.. Basis 25% Straight Line Equipment (h) Debtors Trade and other debtors are recognised at the setuement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. (i) Cash at bank and In hand Cash at bank and cash in hand indudes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisiti¢)n or opening of the deposit or similar account. O'} Creditors and provisions Creditors and provisions are recognised where the chartty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normalty recognised at their settlement amount after allowing for any trade discounts due. (k) Flnanclal Instruments The tnjst only has financial assets and financial liabilrties of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effecbve interest method.
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountlng Pollcles (contlnued) (l} Judgements and key sources of eslimation uncertainty In the application of the company s accounting policies. the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilits'es that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant Actual results may drffer from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised. ff the revisDn affects only that pericxl. or in the period of the reViSn and future peri¢)ds if the revision affects both ojrrent and fijture periods. The trustees are satisfied that the accounting poliaes are appropnate and applied consistently. Key sources of estimation have been applied as follows". Estimate Depreciation of fixed assets Basis of estimation Fixed assets are depreciated and amortised over the usefvl lrfe of the asset. The useful Itves of fixed assets are based on the knowledge of the operations team, with reference to assets expected life cycle. 2. Legal status of the Trust The charity is a SCIO and is a registered Scottish charity. 3. R8lated party transactlons and trust8es' 8xp8ns8s and r8mun8ratlon The trustees all give freely their time and expertise without any fomi of remuneration or other benefit in cash or kind (2023.. £nil). There were no trustee expenses paid or waived during the year {2023.' £nil} During the year no trustee had any personal interest in any contract or transaction entered into by the charity (2023.. £nil). 4. Incom8 from donatlons and18gacl8S 2024 2023 Subscriptions Grant income 355.089 300,402 7,377 307,779 355.089 5. Income from trading activities 2024 2023 Fundraising events 12,751 12.751 33,210 33,210 io
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. Other Incomlng resources 2024 2023 Merchandise 14,297 14.297 10.844 10.844 7. Ralslng donatlons and legacles 2024 2023 Fundraising costs 11,022 11,022 5.981 5,981 8. Analysls of 8XP8ndlture on charltable actlvltles 2024 2023 Merchandise costs Website & CompLrter costs Wages Pension costs Insurance costs Sundry expenses Contractor costs Coach fees Coach education Competition fees Travel and accommodation Camp expenses Postage and stationery Administration costs Professional costs Venue hire Depreciation Govemance (Note 9) 20.948 1.785 73.377 1.469 4.240 10,252 31.060 89,324 2,915 16.981 2.815 31.948 540 30.525 675 4.490 7,163 37.820 119.300 7,421 14.131 5.015 2.612 1.931 2,900 930 50.221 16.197 1.323 335.142 343 3,747 2.T15 40.007 10.944 1.758 318,304 9. Allocation of governance costs Governanc8 costs: 2024 2023 Independent Examiner remuneration 1,758 1.758 1,323 1.323 10. Net Incom81(8XP8ndltur8) for the year This is ststed after charging= 2024 2023 Independent Examination remuneration Depreciation 1,758 10.944 1,323 16,197 li
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Tanglble Flxèd Assets Equipment Tolal Cost At 1 January 2024 Additions Disposals At 31 December 2024 64,788 35.324 64,788 35,324 100.112 100,112 Deprecialion At 1 January 2024 Charge for the year Disposals At 31 December 2024 45,404 10,944 45,404 10.944 56.348 56,348 Netbook Value At 31 December 2024 43.764 43.764 At 31 December 2023 19,384 19,384 12. Crodltors: amounts falllng du8 wlthln ono yèar 2024 2023 PAYE creditor Pension creditor other creditors 728 331 1.758 2.817 440 131 2,245 13. Analysis of charitable funds 2023 Balance blfwd Gainsl {Losses) Transfers Fund clfwd Analysis of Fund movements Income Expenditure Unrestricted funds General funds Total unrestricted funds Restricted fund Scottish Gymnastics Total restricted funds TOTAL FUNDS 50 843 344,456 50.843 344.456 341.123 {341.123) 54.176 7.377 7.377 50.843 351.833 7.377 7.377 61.553 (341.123) 12
Docuggn Envew ID. F316S9A3G47A24l_ClBE21B41O7fj DUNDONALD GYMNASTICS CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Analysls of charltable funds (contlnuod} 2024 Analysis of Fund movements Balance blfwd Gainsl (Losses) Transfers Fund clfwd Income Expenditure Unrestricted funds General funds Total unrestricted funds Restricted fund Scottish Gymnastics Total restricted funds TOTAL FUNDS 54.176 362,137 54.176 362.137 328.736 (328.736) 94.364 94.364 6.787 7.377 7,377 61.553 362.137 590 590 329.326 6,787 6,787 94.364 a) The unrestricted funds are available to be spent for any of the purposes of the charity. b) Restricted funds are held for the following purposes: Scottish Gymnastics - fijnds provided to set-up a Satellite Club in Tayvallich and should be used for education courses and equipment. 14. Net assets over funds As at 31 December 2023 Unrestricted Funds Restricted Funds Total 2023 Fixed Assets Bank Current liabilities 19.384 37.037 2,245 54.176 19.384 44.414 2,245 61.553 7.377 7.377 As at 31 Decemb8r 2024 Unrestrlcted Funds Restricted Funds Total 2024 Fixed Assets Bank Current liabilities 43.764 53.417 {2.817) 43,764 53.417 12.817) 94,364 13