IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.3.23 29.2.24 29.2.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5230962023-02-28SC5230962024-02-29SC5230962023-03-012024-02-29SC5230962022-02-28SC5230962022-03-012023-02-28SC5230962023-02-28SC523096ns0:CharitableCompanyLimitedByGuarantee2023-03-012024-02-29SC523096ns15:PoundSterling2023-03-012024-02-29SC523096ns11:FRS1022023-03-012024-02-29SC523096ns11:IndependentExaminationCharity2023-03-012024-02-29SC523096ns11:SmallCompaniesRegimeForAccounts2023-03-012024-02-29SC523096ns11:FullAccounts2023-03-012024-02-29SC523096ns11:CharitiesSORP2023-03-012024-02-29SC523096ns16:EnglandWales2023-03-012024-02-29SC523096ns11:RegisteredOffice2023-03-012024-02-29SC523096ns0:Trustee22023-03-012024-02-29SC523096ns0:Trustee12023-03-012024-02-29SC523096ns0:Trustee32023-03-012024-02-29SC523096ns0:TotalUnrestrictedFunds2023-03-012024-02-29SC523096ns0:TotalRestrictedIncomeFunds2023-03-012024-02-29SC523096ns0:Activity82023-03-012024-02-29SC523096ns0:TotalUnrestrictedFundsns0:Activity82023-03-012024-02-29SC523096ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-03-012024-02-29SC523096ns0:Activity82022-03-012023-02-28SC523096ns0:Activity92023-03-012024-02-29SC523096ns0:TotalUnrestrictedFundsns0:Activity92023-03-012024-02-29SC523096ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-03-012024-02-29SC523096ns0:Activity92022-03-012023-02-28SC523096ns0:TotalUnrestrictedFunds2023-02-28SC523096ns0:TotalRestrictedIncomeFunds2023-02-28SC523096ns0:TotalUnrestrictedFunds2024-02-29SC523096ns0:TotalRestrictedIncomeFunds2024-02-29SC523096ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-02-29SC523096ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-02-29SC523096ns10:WithinOneYear2024-02-29SC523096ns10:WithinOneYear2023-02-28SC523096ns10:AfterOneYearns0:TotalUnrestrictedFunds2024-02-29SC523096ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2024-02-29SC523096ns10:AfterOneYear2024-02-29SC523096ns10:AfterOneYear2023-02-28SC52309622023-03-012024-02-29SC52309632023-03-012024-02-29SC52309612023-03-012024-02-29SC52309612022-03-012023-02-28SC523096ns10:OwnedAssets2023-03-012024-02-29SC523096ns10:OwnedAssets2022-03-012023-02-28SC523096ns0:TotalUnrestrictedFunds2022-03-012023-02-28SC523096ns0:TotalRestrictedIncomeFunds2022-03-012023-02-28SC523096ns0:TotalUnrestrictedFundsns0:Activity82022-03-012023-02-28SC523096ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-03-012023-02-28SC523096ns0:TotalUnrestrictedFundsns0:Activity92022-03-012023-02-28SC523096ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-03-012023-02-28SC523096ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-28SC523096ns10:PlantMachinery2023-02-28SC523096ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-012024-02-29SC523096ns10:PlantMachinery2023-03-012024-02-29SC523096ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-02-29SC523096ns10:PlantMachinery2024-02-29SC523096ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-28SC523096ns10:PlantMachinery2023-02-28SC523096ns10:BetweenTwoFiveYears2024-02-29SC523096ns10:BetweenTwoFiveYears2023-02-28SC523096ns10:BetweenOneFiveYears2024-02-29SC523096ns10:BetweenOneFiveYears2023-02-28SC523096ns10:MoreThanFiveYears2024-02-29SC523096ns10:MoreThanFiveYears2023-02-28SC523096ns10:AllPeriods2024-02-29SC523096ns10:AllPeriods2023-02-28
REGISTERED COMPANY NUMBER: SC523096 (Scotland)
REGISTERED CHARITY NUMBER: SC046254














Report of the Trustees and

Financial Statements for the Year Ended 29 February 2024

for

Meadowbank Gymnastics Club

Meadowbank Gymnastics Club






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Report of the Trustees 1

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7

Notes to the Financial Statements 9

Meadowbank Gymnastics Club (Registered number: SC523096)

Report of the Trustees
for the Year Ended 29 February 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 February 2024. 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Company's objects are to advance education and public participation in sport. To encourage participation in gymnastics by young persons of all abilities in Edinburgh & the Lothians, by providing gymnastic activities and training to improve the fitness, health and well-being in our gym facility. We work with the National Governing Body to deliver gymnastic classes from preschool through to competitive and development club sessions.

Main activities undertaken to further the charity's purposes for the public benefit

We have recruited 3 new coaches to our team and have continued to develop new coaches from our ranks by promoting practicing gymnasts through a leadership programme within the club. We have 10 Young leaders who assist our coaches as volunteers and are working towards their first coaching qualifications. We also continue to develop our existing coaches which has seen several of our coaches raise to the next level of qualification - 3 coaches have gone from Level 1 to Level 2, 2 coaches have gone from Level 2 to Level 3, and one coach from Level 3 to 4.

We have a growing membership body with over 415 gymnasts and a substantial waiting list of new participants waiting to be admitted when space is available. We also work with Edinburgh University to deliver classes for adults and other gymnastic disciplines.

We now offer our parents a "Stay & See" session every term to be in the gym watching their son/daughter. This is proving to be popular and appreciated by parents and allows them an opportunity to speak to the coaches.


Meadowbank Gymnastics Club (Registered number: SC523096)

Report of the Trustees
for the Year Ended 29 February 2024


OBJECTIVES AND ACTIVITIES
Significant activities
Key financial performance indicators

Our strategic Plan set the following Aims for 2023/24 - and these have been either achieved or still ongoing

- New equipment purchased to enhance our purpose-built Gym so we can develop the Club further - we spent £24,665 from 1 March 23 to 29 Feb 24.

- Employed an Asst Head Coach to assist the Head Coach to ensure that the Gymnasts programmes and development are regularly reviewed and to ensure that the day-to-day classes run smoothly. We are now supporting the Asst Head Coach towards her Level 5 qualification, the highest achievable in Gymnastics.

- In January 2024 we organised a Coach Team session to focus on Team Building and to share and discuss our Vision, Values & Aims. This was very successful and as we have new members in our team since then, we will have a similar session in January 2025.

- Update on Performance of Gymnasts

Olivia Murphy
The top 11 year old in Scotland
Has represented Scotland at Classic Challenge Finals
Going forward will be competing in England representing the Club in a qualifying competition for the British Championships in March 2024
Is a member of the Scottish NPP (National Performance Pathway)

Louise Joyce
Has represented Scotland at Classic Challenge Finals
Is a member of the NPP

Isabella Storrar
Will be Representing Scotland in Nov 24 at the Classic Challenge Finals
Member of the PPP. ( Preparation Pathway)

Esme Wells
Member of the PPP
Will be competing in the Scottish Copper Challenge competition

Also the following gymnasts are members of the Scottish Regional Pathways
Sofia Storrar
Lottie McKenzie
Isla Sibley
Harlowe Handley

- We have also updated our Recreational Programme with every gymnast progressing through the various levels in their personal booklet. Assessment takes place 3 times a year & the booklet showing progress goes home to provide feedback to parents who return the booklet to the gym.

FINANCIAL REVIEW
Financial position
At the year end, there was a deficit of £6,052 (2023: surplus of £33,013). The club has made a conscious effort to reinvest previous surpluses to ensure quality coaching and equipment for use in achieving its charitable objectives. The trustees regularly review financial information and are satisfied that the deficit this year is utilising brought forward reserves to continually improve quality of service.

Meadowbank Gymnastics Club (Registered number: SC523096)

Report of the Trustees
for the Year Ended 29 February 2024


FINANCIAL REVIEW
Reserves policy
Following the impact of Covid-19 on the operation of the club, the reserves policy recognises that the Club will have committed expenditure should any operations cease following a national or medical emergency. The Board of Trustees must ensure sufficient funds to resolve staff overheads, rental obligations and miscellaneous expenditure in the event of disruption, as well as for further investment in growth of the club and its activities in the future.

The reserves policy of the Trust is to have at least 3 months expenditure held in reserves. The current level of free unrestricted reserves (unrestricted reserves less equipment held as assets) of £88,009 is more than sufficient to cover this

Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the Accounting Policies.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Anyone who wishes to become a trustee would in the 1st instance send an email to our mailbox meadowbankgc@gmail.com enclosing a CV and mark it for the attention of the Trustees. We will then interview any suitable candidate and then they need to be voted on at a General Meeting. Becoming a trustee is open to all parents, anyone involved in running the club and interested members of the local community.

Decision making
The trustees have an Executive Committee made up of the Chairperson, Secretary, Financial Director and Head Coach who look after the day to day running of the Company and make initial decisions, as required. We strive to hold monthly meetings. All Trustees attend, where updates are given, plans made and general issues are discussed and agreed.

Risk management
The Charity trustees need to be aware of the risks faced in running the Company. We have a Risk assessment document which details what is to be checked when and by whom, and we also have an equipment safety check list which is used each time the relevant checks are done.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC523096 (Scotland)

Registered Charity number
SC046254

Registered office
23f Mayfield Industrial Estate
Dalkeith
MIDLOTHIAN
EH22 4AD


Meadowbank Gymnastics Club (Registered number: SC523096)

Report of the Trustees
for the Year Ended 29 February 2024

Trustees
Ms M Bisset Director
Ms L Clark Director
S J Malcolm Company Director

Independent Examiner
Mathew RJ Gillies LLB (Hons) ACPA FCIE
Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Approved by order of the board of trustees on 20 November 2024 and signed on its behalf by:





Ms L Clark - Trustee

Independent Examiner's Report to the Trustees of
Meadowbank Gymnastics Club

I report on the accounts for the year ended 29 February 2024 set out on pages six to seventeen.

Respective responsibilities of trustees and 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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter 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; and
- to prepare accounts which accord with the accounting records and to 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.








Mathew RJ Gillies LLB (Hons) ACPA FCIE
Full member of the Association of Charity Independent Examiners

Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Date: .............................................

Meadowbank Gymnastics Club

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 29 February 2024

29.2.24 28.2.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 - - - 8,040

Charitable activities 5
Operation of gymnastics club 217,884 - 217,884 214,839
Attendance at gymnastics competitions 12,889 - 12,889 6,615

Other trading activities 3 17,252 - 17,252 33,079
Investment income 4 643 - 643 92
Total 248,668 - 248,668 262,665

EXPENDITURE ON
Charitable activities 6
Operation of gymnastics club 233,718 6,000 239,718 220,379
Attendance at gymnastics competitions 15,002 - 15,002 9,273
Total 248,720 6,000 254,720 229,652

NET INCOME/(EXPENDITURE) (52 ) (6,000 ) (6,052 ) 33,013


RECONCILIATION OF FUNDS
Total funds brought forward 189,433 10,000 199,433 166,420

TOTAL FUNDS CARRIED FORWARD 189,381 4,000 193,381 199,433

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

The Statement of Financial Activities includes all gains and losses recognised in the year.

Meadowbank Gymnastics Club (Registered number: SC523096)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 101,372 4,000 105,372 119,045

CURRENT ASSETS
Debtors 13 3,305 - 3,305 3,305
Cash at bank 86,503 - 86,503 110,033
89,808 - 89,808 113,338

CREDITORS
Amounts falling due within one year 14 (1,799 ) - (1,799 ) (2,950 )

NET CURRENT ASSETS 88,009 - 88,009 110,388

TOTAL ASSETS LESS CURRENT LIABILITIES 189,381 4,000 193,381 229,433

CREDITORS
Amounts falling due after more than one year 15 - - - (30,000 )

NET ASSETS 189,381 4,000 193,381 199,433
FUNDS 18
Unrestricted funds 189,381 189,433
Restricted funds 4,000 10,000
TOTAL FUNDS 193,381 199,433

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.


Meadowbank Gymnastics Club (Registered number: SC523096)

Balance Sheet - continued
29 February 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2024 and were signed on its behalf by:





L Clark - Trustee

Meadowbank Gymnastics Club

Notes to the Financial Statements
for the Year Ended 29 February 2024

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 1 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.

The accounts are presented in sterling which is the charity's functional currency, and rounded to the nearest
pound.

No changes have been made to the basis of preparing the financial statements this year or to the previous year's financial statements

Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern and there are sufficient reserves to meet the reserves policy detailed on page 3, therefore the accounts are prepared on a going concern basis.

Income
All 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.

Donations are recognised when received.

Grant income is recognised within charitable activities and is recognised when the charity has entitlement to the funds, any performance related conditions attached to the grants are met, it is probable that the income will be received and the amount can be measured reliably.

Income from fees, subscriptions and competitions is recognised when the services are provided.

Bank interest is recognised when received.

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
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Improvements to property - 15 years straight line
Fixtures and fittings - 20% on cost

The policy is to capitalise assets where they have an expected useful life of over one year.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

1. ACCOUNTING POLICIES - continued

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.

Measurement of debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net or any trade discounts due.

Cash at bank and on hand
Cash at bank and cash in hand includes cash and any short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and loans
Creditors and loans are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and loans are normally recognised at their settlement amount after
allowing for any trade discounts due.

VAT
Meadowbank Gymnastics Club is not VAT registered and income and expenditure is recognised including irrecoverable VAT.

2. DONATIONS AND LEGACIES
29.2.24 28.2.23
£    £   
Donations - 2,040
Grants - 6,000
- 8,040

Grants received, included in the above, are as follows:

29.2.24 28.2.23
£    £   
DCI
- 6,000


Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. OTHER TRADING ACTIVITIES
29.2.24 28.2.23
£    £   
Fundraising events 4,750 20,392
Sportswear 3,216 2,276
Extra training 8,912 9,834
Equipment 374 577
17,252 33,079

4. INVESTMENT INCOME
29.2.24 28.2.23
£    £   
Deposit account interest 643 92

5. INCOME FROM CHARITABLE ACTIVITIES
29.2.24 28.2.23
Activity £    £   
Gymnastics fees and
subscriptions


Operation of gymnastics club

217,884

214,839
Gymnastics competitions Attendance at gymnastics competitions 12,889 6,615
230,773 221,454

6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£    £    £   
Operation of gymnastics club 126,193 113,525 239,718
Attendance at gymnastics competitions 15,002 - 15,002
141,195 113,525 254,720


Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. SUPPORT COSTS
Governance
Management Other costs Totals
£    £    £    £   
Operation of gymnastics club 76,164 32,715 4,646 113,525

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

29.2.24 28.2.23
£    £   
Depreciation - owned assets 32,715 32,745

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023.


10. STAFF COSTS
29.2.24 28.2.23
£    £   
Wages and salaries 51,191 13,731
51,191 13,731

The average monthly number of employees during the year was as follows:

29.2.24 28.2.23
Staff 3 1

No employees received emoluments in excess of £60,000.


Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,040 6,000 8,040

Charitable activities
Operation of gymnastics club 214,839 - 214,839
Attendance at gymnastics competitions 6,615 - 6,615

Other trading activities 33,079 - 33,079
Investment income 92 - 92
Total 256,665 6,000 262,665

EXPENDITURE ON
Charitable activities
Operation of gymnastics club 205,838 14,541 220,379
Attendance at gymnastics competitions 9,273 - 9,273
Total 215,111 14,541 229,652

NET INCOME/(EXPENDITURE) 41,554 (8,541 ) 33,013


RECONCILIATION OF FUNDS
Total funds brought forward 147,879 18,541 166,420

TOTAL FUNDS CARRIED FORWARD 189,433 10,000 199,433


Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 March 2023 50,499 147,698 198,197
Additions - 19,042 19,042
At 29 February 2024 50,499 166,740 217,239
DEPRECIATION
At 1 March 2023 9,129 70,023 79,152
Charge for year 3,367 29,348 32,715
At 29 February 2024 12,496 99,371 111,867
NET BOOK VALUE
At 29 February 2024 38,003 67,369 105,372
At 28 February 2023 41,370 77,675 119,045

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 3,305 3,305

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Accrued expenses 1,799 2,950

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans (see note 16) - 30,000


Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

16. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years - 12,000
Amounts falling due in more than five years:

Repayable by instalments:
Other loans more 5yrs instal - 18,000

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

29.2.24 28.2.23
£    £   
Within one year 39,006 39,006
Between one and five years 156,024 156,024
In more than five years 221,034 260,040
416,064 455,070

The term of the lease on the premises is 10 years (2022: 11 years)

18. MOVEMENT IN FUNDS
Net
movement At
At 1.3.23 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 189,433 (52 ) 189,381

Restricted funds
Equipment fund 10,000 (6,000 ) 4,000

TOTAL FUNDS 199,433 (6,052 ) 193,381

Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 248,668 (248,720 ) (52 )

Restricted funds
Equipment fund - (6,000 ) (6,000 )

TOTAL FUNDS 248,668 (254,720 ) (6,052 )


Comparatives for movement in funds

Net
movement At
At 1.3.22 in funds 28.2.23
£    £    £   
Unrestricted funds
General fund 147,879 41,554 189,433

Restricted funds
Equipment fund 16,000 (6,000 ) 10,000
DCI 2,541 (2,541 ) -
18,541 (8,541 ) 10,000
TOTAL FUNDS 166,420 33,013 199,433

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 256,665 (215,111 ) 41,554

Restricted funds
Equipment fund - (6,000 ) (6,000 )
DCI 6,000 (8,541 ) (2,541 )
6,000 (14,541 ) (8,541 )
TOTAL FUNDS 262,665 (229,652 ) 33,013

Meadowbank Gymnastics Club

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.3.22 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 147,879 41,502 189,381

Restricted funds
Equipment fund 16,000 (12,000 ) 4,000
DCI 2,541 (2,541 ) -
18,541 (14,541 ) 4,000
TOTAL FUNDS 166,420 26,961 193,381

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 505,333 (463,831 ) 41,502

Restricted funds
Equipment fund - (12,000 ) (12,000 )
DCI 6,000 (8,541 ) (2,541 )
6,000 (20,541 ) (14,541 )
TOTAL FUNDS 511,333 (484,372 ) 26,961

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 29 February 2024, nor the year ended 28 February 2023.