REGISTERED NUMBER: |
Directors' Report and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) |
REGISTERED NUMBER: |
Directors' Report and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Directors' Report | 2 |
Chartered Accountants' Report | 3 |
Statement of Income and Retained Earnings | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Hazlemere |
70 Chorley New Road |
Bolton |
Lancashire |
BL1 4BY |
BANKERS: |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Directors' Report |
for the Year Ended 31 December 2023 |
The directors present their report with the financial statements of the company for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company is to provide coaching and facilities for gymnastic, trampolining and other associated activities. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bury Gymnastics Club Limited (Company Limited by Guarantee) for the year ended 31 December 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 Bury Gymnastics Club Limited (Company Limited by Guarantee), 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 Bury Gymnastics Club Limited (Company Limited by Guarantee) and state those matters that we have agreed to state to the Board of Directors of Bury Gymnastics Club Limited (Company Limited by Guarantee), 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 Bury Gymnastics Club Limited (Company Limited by Guarantee) and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Bury Gymnastics Club Limited (Company Limited by Guarantee) 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 profit of Bury Gymnastics Club Limited (Company Limited by Guarantee). You consider that Bury Gymnastics Club Limited (Company Limited by Guarantee) 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 Bury Gymnastics Club Limited (Company Limited by Guarantee). 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. |
Chartered Accountants |
Hazlemere |
70 Chorley New Road |
Bolton |
Lancashire |
BL1 4BY |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Statement of Income and |
Retained Earnings |
for the Year Ended 31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
(17,671 | ) | (54,929 | ) |
Other operating income | 3 |
OPERATING PROFIT/(LOSS) | 5 | ( |
) |
Interest receivable and similar income |
660 | (44,339 | ) |
Interest payable and similar expenses | ( |
) |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | 6 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Retained earnings at beginning of year |
RETAINED EARNINGS AT END OF YEAR |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Other reserves | 10 |
Retained earnings | 10 |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Balance Sheet - continued |
31 December 2023 |
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 profit or loss 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 were approved by the Board of Directors and authorised for issue on |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Bury Gymnastics Club Limited (Company Limited by Guarantee) is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total fees received from members during the year and derives from the provision of services falling within the company's ordinary activities, wholly undertaken in the UK. |
Tangible fixed assets |
Short leasehold | - |
Fixtures, fittings and equipment | - |
Stocks |
Stock is valued at the lower of cost and net realisable value. |
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. | OTHER OPERATING INCOME |
Other operating income includes £6,765 from fundraising (2022 - £1,761), £1,472 from Vending machine sales (2022 - £900), £10,070 from British Gymnastics (2022 - £4,000) (2022 - £3,000 from Football club, and £900 from the council for a damaged roof). |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2022 - operating loss) is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
6. | TAXATION |
The company is registered with HM Revenue & Customs as a Community Amateur Sports Club (CASC). As such it is entitled to claim certain tax reliefs and no liability to Corporation tax is expected to arise for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Bury Gymnastics Club Limited |
(Company Limited by Guarantee) (Registered number: 07074730) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
Short | and |
leasehold | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
As part of a lottery funding agreement dated 13 April 2011, between Sport England and Bury Council, the company contributed £65,000 toward a new, purpose built, fit for purpose gymnastic facility at Goshen Sports Centre. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments and accrued income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Pension | 427 | - |
Accrued expenses |
10. | RESERVES |
On 24 December 2009 all the assets and liabilities of Bury Gym Oldco Limited (Company no. 06763458) were introduced into the company and credited to other reserves. |
11. | COMPANY LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have a share capital. The liability of the members in the event of the company being liquidated is limited to £1 per member. |