Scottish Charity Number – SC048577
Trustees Report & Financial Statement
Year Ended 30[th] June 2025
The trustees present their report with the financial statement of the charity for year ended 30[th] June 2025. The trustees have adopted the provisions of 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)
INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
REFERENCE & ADMINISTRATIVE INFORMATION .................................................................. 2 STRUCTURE, GOVERNANCE & MANAGEMENT ..................................................................... 2 FINANCIAL REVIEW ............................................................................................................ 2 CHAIRMANS REPORT ......................................................................................................... 3 INDEPENDENT EXAMINERS REPORT ................................................................................... 4 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................... 5 BALANCE SHEET ................................................................................................................ 6 NOTES ON THE ACCOUNTS ................................................................................................ 7
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
REFERENCE & ADMINISTRATIVE INFORMATION
Charity Name: Inverness Gymnastics Club Charity Number: SC048577 Registered Address: 69 Holm Farm Road Inverness IV2 6BE Current Trustees Chairman John Humphries Appointed 24/07/18 Vice Chair Allan MacRae Appointed 24/07/18 Treasurer Kathryn Talbot-Heigh Appointed 24/07/18 Liz Danby Appointed 24/07/18 Jo Guthrie Co-opted 25/02/21 Kate Steer Co-opted 01/03/23
STRUCTURE, GOVERNANCE & MANAGEMENT
Constitution: The Charity is a Scottish Charitable Incorporated Organisation (SCIO) registered on 25[th] July 2018. The SCIO has replaced the former unincorporated Club which previously operated in the same name. It has a single tier membership structure.
Appointment Trustees are elected at the Annual General Meeting. There must be a minimum of 5 and a maximum of of Trustees 12 trustees including officer bearer roles. Membership of the board is open to all parents and guardians of children at the Club, adults involved with the club’s operation, and interested members of the local community.
Charitable To encourage public participation in the amateur sport of gymnastics by young persons of all abilities, Purposes particularly in Inverness and the surrounding areas, by providing gymnastics facilities, activities and training to improve the fitness, health and well-being of the persons for whom the activities are intended.
Activities Inverness Gymnastics Club (SC048577) is the largest provider of Gymnastics in the city, and the only club operating in association with the National Governing Body. IGC operates a large number of gymnastics classes from BabyGym and preschool through to competitive and development club sessions, working with Scottish Gymnastics and neighbouring clubs to build capacity in the sport, and support gymnasts to develop their skills, meet new friends and enjoy an active lifestyle.
FINANCIAL REVIEW
Primary The primary source of funding is generated through class fees. Fundraising efforts are undertaken Income throughout the year, and a calendar of competitions run annually provides an opportunity for further revenue generation.
All funds generated are resourced to further the charitable activities namely through venue hire, coaching costs, coach training and development, travel expenses, and equipment purchases, repairs and maintenance.
Reserves The Club continues to make efforts to build a healthy balance of reserves. In the 2024-25 year the Club Policy successfully built a reserves of over £30,000 as was targeted. Moving into the subsequent financial year, the Club is aware that there are plans to become employers and as such the Board will review the reserves policy to ensure sufficient funds are retained for all redundancy risk, long term sickness and maternity.
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
CHAIRMANS REPORT
(1[st] July 2024 – 30[th] June 2025)
With 2024-25 seeing another year of Club growth and Development, I want to put on record my thanks, and that of the Board of Trustees to all of our coaches, parent helpers, and volunteers for their support, hard work, and engagement, without which, the scope and scale of our Club’s operations would not be possible. At the close of the 2024-25 year, it seems apt to reflect on just what that scope and scale looks like:
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On a weekly basis, over 700 children took part in regular gymnastics classes, with the club operating in 4 venues over 6 days a week.
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Our coaching team deliver over 250 hours of weekly coaching – the equivalent to nearly 7 FTE jobs in local sport.
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Our Club invests over £5,000 per month in venue hire – supporting jobs more widely in the sport and leisure sector.
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Our flagship event – the Highland Floor & Vault Competition brings in over 300 gymnasts and their families from out with the city, with many choosing to stay in Inverness overnight – a significant benefit to the local economy.
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In addition to our term time programme, we continued to grow out increasingly popular holiday classes. These are open to our existing members, and also to those who are not currently attending the club – a great way to mitigate the waiting lists that still remain higher than we would wish them to be.
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This year we continued to develop our Disability Class offering, scheduling classes throughout all School Holiday programmes, with increasing numbers as a result.
Our competitive groups, saw further success, building on the previously years’ programme of competitions with an increasingly business event calendar. A massive thank you to our coaches for travelling to these events and supporting our gymnasts. We had medal successes in all disciplines, and whilst there are too many to mention, there was clear increase in both the number of gymnasts, and the levels at which they were competing.
This year we also transition to the new Just Go membership system as part of the wider British Gymnastics Roll out, whilst introducing improvements and efficiencies in our own back of house systems for waiting lists, and class billing.
We continue to engage with and support both Scottish and British Gymnastics with representation on committees and working groups covering everything from recreational programme development to Gymfest, and the new Brilliant Basics platform.
We were extremely grateful to parents for their support in a number of fundraising initiatives throughout the year – a special mention goes to Iain Lonnen and Raymond Sutherland for their herculean effort running and cycling non-stop between Perth and Inverness raising over £5,000. Fundraising and support continues to allow us to ensure we provide the best quality of coaching and the most up to date equipment for all of our gymnasts, at cost that does not increase barriers to sport for parents in Inverness.
John Humphries IGC Chairman
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
INDEPENDENT EXAMINERS REPORT
I report on the financial statements for the year ended 30 June 2025, which are set out on pages 5 to 10.
Respective responsibilities of trustees and independent 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. The charity's trustees consider that the audit requirement of Regulation 10(1) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)c of the Act to state whether particular matters have come to my attention.
Basis of Independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from the 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 my view given by the financial statements.
Independent examiner's statement
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
- 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 to prepare accounts which accord with the accounting records and 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.
Name: Faye MacKay FCCA
Address: Strathayre, 6 Station Road, Dingwall, IV15 9JX
Date: 26/5/26
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INVERNESS GYMNASTICS CLUB
Year Ended 30[th] June 2025 STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 30 June 2025
| Notes Income and endowments from Donation and legacies 2 Charitable Activities 3 Other fundraising activities 4 Other income 5 Total income Charitable activities 6 Net income/(expenditure) Reconciliation of funds: Fund balances at 30 June 2024 Fund balances at 30 June 2025 |
Unrestricted Funds 2025 £ 3,836 269,275 30,292 399 303,802 283,160 20,642 81,790 81,790 102,432 |
Restricted Funds 2025 £ - 18,653 - 18,653 18,653 - 1,371 1,371 1,371 |
Total 2025 £ 3,836 287,928 30,292 399 322,455 301,813 20,642 83,161 83,161 103,803 |
Unrestricted Funds 2024 £ 1,163 236,135 25,252 385 262,935 253,717 9,218 72,572 72,572 81,790 |
Restricted Funds 2024 £ 16,578 - 250 16,828 22,192 - 5,364 6,735 6,735 1,371 |
Total 2024 £ 1,163 252,713 25,252 635 |
|---|---|---|---|---|---|---|
| 279,763 275,909 |
||||||
| 3,854 79,307 |
||||||
| 79,307 | ||||||
| 83,161 |
The statement of financial activities includes all gains and losses recognised in the year
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
BALANCE SHEET
As at 30 June 2024
| Notes Fixed assets Tangible assets 9 Current Assets Stocks 10 Debtors 11 Cash in bank and in hand Creditors: amounts falling due within one year 12 Net current assets Net assets Funds 13 Restricted funds Unrestricted funds |
2025 £ £ 44,939 3,782 2,411 71,153 77,346 18,480 58,866 £ 103,803 1,371 102,432 £ 103,803 |
2024 £ £ 45,896 1,554 5,799 45,949 53,302 16,037 37,265 83,161 1,371 81,790 £ 83,161 |
2024 £ £ 45,896 1,554 5,799 45,949 53,302 16,037 37,265 83,161 1,371 81,790 £ 83,161 |
|---|---|---|---|
| 77,346 18,480 |
53,302 16,037 |
||
| £ £ |
£ | ||
| 83,161 | |||
| 1,371 81,790 |
|||
83,161 |
The financial statements were approved by the Trustees on 10[th] February 2026 and were signed on its behalf by:-
| Signature | _______ |
|---|---|
| Position | IGC Club Chairman |
| Signature | _______ |
| Position | IGC Treasurer |
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
NOTES ON THE ACCOUNTS
For the year ended 30 June 2025
1 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 I 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.
Income
Al 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.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Equipment & Apparatus – 10% reducing balance per annum
Stocks
Stocks are stated at the lower of cost, or estimated selling price less cost to complete and sell.
Taxation
The charity is exempt from tax on its current 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.
| 2 Income from donations and legacies Donations And Gifts 3 Income from charitable activities Class fees (incl. gift aid) British Gymnastics Subscriptions Gymfest |
Unrestricted Funds Restricted Funds Year End 2025 Year End 2024 £ £ £ £ 3,836 0 3,836 1,163 |
|---|---|
| Unrestricted Funds Restricted Funds Year End 2025 Year End 2024 £ £ £ £ 261,535 - 261,535 229,125 - 18,653 18,653 16,578 7,740 - 7,740 7,010 |
|
| 269,275 18,653 287,928 252,713 |
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
4 INCOME FROM OTHER TRADING ACTIVITIES
| Merchandise Sales Events Competition Entries Miscellaneous Income |
Unrestricted Funds Restricted Funds Year End 2025 Year End 2024 £ £ £ £ 4,309 - 4,309 3,481 19,288 - 19,288 16,421 6,695 - 6,695 5,334 - - - 17 |
|---|---|
| 30,292 30,292 25,253 |
5 OTHER INCOME
| Bank Interest Gymnaestrada |
Unrestricted Funds Restricted Funds Year End 2025 Year End 2024 £ £ £ £ 399 399 385 - 0 250 |
|---|---|
| 399 - 399 635 |
6 EXPENDITURE ON CHARITABLE ACTIVITIES
| Coaching fees Coaches courses and expenses Administration Repairs and renewals British Gymnastics subscriptions Gymfest Merchandise costs Hall hire Recreational expenses Gymnaestrada Competitions Competition entry external Travel and subsistence Hardship fund Paypal charges Accountancy fees Donation Other expenses Depreciation Loss on sale Total resources expended |
Unrestricted Funds Restricted Funds Year End 2025 Year End 2024 £ £ £ £ 163,631 - 163,631 146,653 3,347 - 3,347 2,891 4,800 - 4,800 4,800 511 - 511 840 2,026 18,653 20,679 18,501 2,041 - 2,041 2,988 4,153 - 4,153 2,655 65,782 - 65,782 60,858 4,359 - 4,359 4218 - - - 5,614 7,778 - 7,778 6848 7,307 - 7,307 6,525 6,362 - 6,362 4,102 1,590 - 1,590 - 1,552 - 1,552 776 750 - 750 750 - - 1,191 923 - 923 599 4,993 4,993 5,100 1,255 1,255 - |
|---|---|
| 283,160 18,653 301,813 275,909 |
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
7 TRUSTEE REMUNERATION
The following Trustee remuneration relates to less than 50% of the total number of trustees as required by the Club’ constitution. Furthermore, the remuneration payments relate solely to coaching hours in line with all other coaches within the organisation, and the Club’s policy for payments to coaches. John Humphries £16,667 (2024 £15,151), Kathryn Talbot-Heigh £4,860 (2024 £5,220).
8 TRUSTEE EXPENSES
The following expenses paid to trustees relate to travel expenses in line with the club’s expense policy - namely expenses paid for mileage at a capped and preferred rate. This rate is applicable to all coaches, officials, and club members for preferred travel to undertake or further the club’s charitable activities: John Humphries £1,589 (2024 £1,768), Kathryn Talbot- Heigh £54 (2024 £49)
9 TANGIBLE FIXED ASSETS
| Cost As at 30 June 2024 Additions Disposals As at 30 June 2025 Depreciation As at 30 June 2024 Charge for year Disposals As at 30 June 2025 Net book values As at 30 June 2025 As at 30 June 2024 10 STOCKS Club Kit And Promotional Clothing 11 DEBTORS: AMOUNT FALLING DUE WITHIN ONE Other Debtors |
Equipment £ 93,182 5,541 - 4,794 |
|
|---|---|---|
| 93,929 | ||
| 47,286 4,993 - 3,290 |
||
| 48,990 | ||
| 44,939 | ||
| 45,896 | ||
| 2025 2024 £3,782 £1,554 |
||
| YEAR | 2025 2024 £ 2,411 £ 5,799 |
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
12 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR
| 2025 2024 £18,480 £ 16,037 |
|
|---|---|
| Incoming resources Outgoing resources At 30th June 2025 £ £ £ 303,802 283,159 102,432 18,653 18,653 1,371 |
|
| £ 83,161 | 322,455 301,812 103,803 |
| Incoming resources Outgoing resources At 30th June 2024 £ £ £ 262,935 253,7187 81,790 16,828 22,192 1,371 |
15 RELATED PARTY TRANSACTIONS
Payments totalling £4,800 were made to Rosamund Humphries (2024 - £4,800) for weekly financial administration work (at a rate of £100 per week for weeks worked. This is a historical arrangement from prior to the Club’s charitable registration and has been agreed by the current Board. Remuneration is based on the volume of transactions administered and the value of experience and knowledge. Connotation of this agreement was voted unanimously by the board of Trustees with the exception of the Chair who abstained from voting due to the familial conflict of interest.
The following expenses paid to individuals related to travel expenses in line with the club’s expense policy - namely expenses paid for mileage at a capped and preferred rate. This rate is applicable to all coaches, officials, and club members for preferred travel to undertake or further the club’s charitable activities: Louise Humphries £78 (2024 £186).
Payments of £16,239.79 (2024 £6,326) were made to Louise Humphries for coaching throughout the year.
These payments relate solely to coaching hours and are in line with all other coaches within the organisation, and the Club’s policy for payments to coaches.
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INVERNESS GYMNASTICS CLUB Year Ended 30[th] June 2025
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 30 June 2025
| Income Donations & Legacies Donations Charitable Activities Class Fees British Gymnastics Subscriptions Gymfest Other Trading Activities Merchandise Sales Competitions Miscellaneous Income Other Income Bank Interest Gymnaestrada Total receipts £ Expenditure Coaching fees Coaches courses and expenses Administration Repairs and renewals British Gymnastics subscriptions Gymfest Merchandise costs Hall hire Recreational expenses Gymnaestrada Events costs Competition entry external Travel and subsistence Hardship fund Paypal charges Accountancy fees Donation Other expenses Total Resources Expended £ Net Income/(Expenditure) Before Depreciation and Loss on Sale Depreciation Loss on Sale Net Income/(Expenditure) After Depreciation and Loss on Sale £ |
Unrestricted Funds £ 3,836 261,535 7,740 4,309 25,983 - 399 - 303,802 £ 163,631 3,347 4,800 511 2,026 2,041 4,153 65,782 4,359 - 7,778 7,307 6,362 1,590 1,552 750 - 923 276,912 £ 26,890 4,993 1255 6,248 20,642 £ |
Restricted Funds £ - - - 18,653 - - - - - 18,653 £ - - - - - 18,653 - - - - - - - - - - - - - 18,653 £ 0 - - - 0 £ |
Year End 2025 £ 3,836 261,535 18,653 7,740 4,309 25,983 - 399 - 322,455 £ 163,631 3,347 4,800 511 20,679 2,041 4,153 65,782 4,359 - 7,778 7,307 6,362 1,590 1,552 750 - 923 295,565 £ 26,890 4,993 1255 6,248 20,642 £ |
Year End 2024 £ 1,163 229,125 16,578 7,010 3,480 21,755 17 385 250 |
|---|---|---|---|---|
| 279,763 | ||||
| 146,653 2,891 4,800 840 18,501 2,988 2,655 60,858 4,218 5,614 6,848 6,525 4,102 - 776 750 1,191 599 |
||||
| 270,809 | ||||
| 8,954 5,100 |
||||
| 5,100 | ||||
| 3,854 |
This page does not form part of the statutory financial statements.
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