HAMPSTEAD GYMNASTICS CLUB C.I.C.

Company limited by guarantee

Company Registration Number:
14203976 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2023

Period of accounts

Start date: 29 June 2022

End date: 31 August 2023

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Contents of the Financial Statements

for the Period Ended 31 August 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Directors' report period ended 31 August 2023

The directors present their report with the financial statements of the company for the period ended 31 August 2023

Principal activities of the company

Hampstead Gymnastics Club CIC provides recreational gymnastics classes to children principally aged 4 to 16 in London and Hertfordshire. We aim to provide affordable and inclusive classes including some pre-school activity and welcome the participation of boys and girls and children who have body management issues. Our classes are available to all irrespective of ability and we aim to assist families on low income to access gymnastics classes.

Political and charitable donations

No political or charitable donations were made during the year



Directors

The directors shown below have held office during the whole of the period from
29 June 2022 to 31 August 2023

Theodore Acort Lake
Anisha Benjamin-Sampath


Secretary Theresa Mary Broome

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 November 2023

And signed on behalf of the board by:
Name: Theodore Acort Lake
Status: Director

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Profit And Loss Account

for the Period Ended 31 August 2023

14 months to 31 August 2023


£
Turnover: 120,789
Cost of sales: ( 105,593 )
Gross profit(or loss): 15,196
Administrative expenses: ( 9,222 )
Operating profit(or loss): 5,974
Profit(or loss) before tax: 5,974
Tax: ( 1,263 )
Profit(or loss) for the financial year: 4,711

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Balance sheet

As at 31 August 2023

Notes 14 months to 31 August 2023


£
Current assets
Debtors: 3 6,118
Cash at bank and in hand: 34,910
Total current assets: 41,028
Creditors: amounts falling due within one year: 4 ( 35,054 )
Net current assets (liabilities): 5,974
Total assets less current liabilities: 5,974
Provision for liabilities: ( 1,263 )
Total net assets (liabilities): 4,711
Members' funds
Profit and loss account: 4,711
Total members' funds: 4,711

The notes form part of these financial statements

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 November 2023
and signed on behalf of the board by:

Name: Theodore Acort Lake
Status: Director

The notes form part of these financial statements

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover includes income from activities. Tuition fees are included in the profit and loss account on a receivable basis. Where income is received in advance of the period which it relates to, its recognition is deferred and included in creditors as deferred income

    Other accounting policies

    ExpenditureAll expenditure has been included in the Profit and Loss account on an accruals basis.Reserves policyThe Directors have set a level equivalent to 3 months of operating costs for the organisation as a desired level of reserve. This fund is a contingency in the event of a sudden reduction in income, in order to protect the future operation of the organisation from the effects of any unforeseen variations in its income and expenditure. The reserves policy and the levels of reserves required are reviewed yearly as part of the annual budgetary process.

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees

    14 months to 31 August 2023
    Average number of employees during the period 2

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Debtors

14 months to 31 August 2023
£
Trade debtors 6,118
Total 6,118

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

14 months to 31 August 2023
£
Trade creditors 10
Accruals and deferred income 35,044
Total 35,054

COMMUNITY INTEREST ANNUAL REPORT

HAMPSTEAD GYMNASTICS CLUB C.I.C.

Company Number: 14203976 (England and Wales)

Year Ending: 31 August 2023

Company activities and impact

Hampstead Gymnastics Club CIC operates principally in North London with a satellite site in St Albans (Cottonmill Gymnastics). We aim to provide high quality accessible gymnastics tuition in a non-elite setting. Our North London and St Albans locations are located in areas where deprivation and poor-quality housing exist side by side with very affluent areas. In St Albans we provide a weekly free Toddler Drop In session in Cottonmill area which is in the most deprived ward in the city.We train children to improve their strength, balance, flexibility, co-ordination and much more. Our training also enhances their focus, resilience and teamwork abilities leading to more self-confident and happier individuals. Whilst the majority of our members are self funding, as a Community Interest Company we are able to offer free or subsidised places to families who would not otherwise be able to access high quality gymnastics tuition. We use a network of local voluntary organisations to assist us in assessing applications for the subsidised places together with direct applications.We welcome children with Special Educational Needs who are encouraged to participate in our regular classes with support.

Consultation with stakeholders

We communicate regularly with our parents/carers via email and news updates and encourage them to interact with the Club to discuss any questions , milestones and celebrations concerning their child’s progress. Unlike many other Clubs, we whole-heartedly welcome parents staying and watching our classes. This gives parents a real insight into the Club and our standards and expectations for the children. Our gymnasts have a party at the end of each Term to celebrate their achievements and to allow them and their siblings to enjoy some less formal time in the gym.Regular team building events are held with our coaching team who are such a vital part of delivering our services together with an internal group to discuss technical or practical issues that arise from time to time.We value our regular interaction with the local charities, community groups and social prescribers that we work with and who provide valuable assistance in identifying families who would benefit from our gymnastics classes.

Directors' remuneration

The total amount paid to directors in respect of qualifying services was £33,573.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office which require to be disclosed

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 November 2023

And signed on behalf of the board by:
Name: Theodore Acort Lake
Status: Director