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REGISTERED NUMBER: 08828248 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Wolverhampton Gymnastics Club Ltd

Wolverhampton Gymnastics Club Ltd (Registered number: 08828248)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

Wolverhampton Gymnastics Club Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: D Parker
P James





SECRETARY: P James





REGISTERED OFFICE: Unit 1 Wednesfield Business Park
Waddensbrook Lane
Wednesfield
Wolverhampton
West Midlands
WV11 3SF





REGISTERED NUMBER: 08828248 (England and Wales)





ACCOUNTANTS: Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Wolverhampton Gymnastics Club Ltd (Registered number: 08828248)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,665 36,472

CURRENT ASSETS
Stocks 460 450
Debtors 5 8,112 8,071
Cash at bank and in hand 140,432 148,553
149,004 157,074
CREDITORS
Amounts falling due within one year 6 3,695 4,451
NET CURRENT ASSETS 145,309 152,623
TOTAL ASSETS LESS CURRENT LIABILITIES 170,974 189,095

RESERVES
Revenue reserves 170,974 189,095
170,974 189,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:




D Parker - Director


Wolverhampton Gymnastics Club Ltd (Registered number: 08828248)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Wolverhampton Gymnastics Club Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents membership income and income from fund raising events and sponsorship.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on cost, Over period of lease and at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

Wolverhampton Gymnastics Club Ltd (Registered number: 08828248)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 15,132 131,549 146,681
DEPRECIATION
At 1 September 2022 11,098 99,111 110,209
Charge for year 1,009 9,798 10,807
At 31 August 2023 12,107 108,909 121,016
NET BOOK VALUE
At 31 August 2023 3,025 22,640 25,665
At 31 August 2022 4,034 32,438 36,472

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 8,112 8,071

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 234 237
Taxation and social security 497 390
Other creditors 2,964 3,824
3,695 4,451

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Between one and five years 151,650 -
In more than five years - 185,350
151,650 185,350

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wolverhampton Gymnastics Club Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wolverhampton Gymnastics Club Ltd for the year ended 31 August 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wolverhampton Gymnastics Club Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wolverhampton Gymnastics Club Ltd and state those matters that we have agreed to state to the Board of Directors of Wolverhampton Gymnastics Club Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wolverhampton Gymnastics Club Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wolverhampton Gymnastics Club Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wolverhampton Gymnastics Club Ltd. You consider that Wolverhampton Gymnastics Club Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wolverhampton Gymnastics Club Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST


17 November 2023