## **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**_
1
**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:
- 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.
- Our coaching team deliver over 250 hours of weekly coaching – the equivalent to nearly 7 FTE jobs in local sport.
- Our Club invests over £5,000 per month in venue hire – supporting jobs more widely in the sport and leisure sector.
- 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.
- 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.
- 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
3
**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:
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 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
4
## **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
5
## **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|
7
**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|
8
**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|
9
**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.
10
## **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._
11