CORNWALL GYMNASTICS CENTRE C.I.C.

Company limited by guarantee

Company Registration Number:
11984901 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

CORNWALL GYMNASTICS CENTRE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

CORNWALL GYMNASTICS CENTRE C.I.C.

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Directors

The directors shown below have held office during the whole of the period from
1 June 2023 to 31 May 2024

Vanessa Mitchell
Ashleigh Mitchell


The director shown below has held office during the period of
12 March 2024 to 31 May 2024

Alison Wilsher


The director shown below has held office during the period of
1 October 2023 to 31 May 2024

Zoe Keeble


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
28 January 2025

And signed on behalf of the board by:
Name: Vanessa Mitchell
Status: Director

CORNWALL GYMNASTICS CENTRE C.I.C.

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 140,494 162,695
Cost of sales: ( 9,399 ) ( 9,304 )
Gross profit(or loss): 131,095 153,391
Administrative expenses: ( 138,049 ) ( 166,807 )
Other operating income: 6,772 5,000
Operating profit(or loss): (182) (8,416)
Interest payable and similar charges: ( 566 ) ( 395 )
Profit(or loss) before tax: (748) (8,811)
Profit(or loss) for the financial year: (748) (8,811)

CORNWALL GYMNASTICS CENTRE C.I.C.

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 11,691 21,952
Total fixed assets: 11,691 21,952
Current assets
Stocks: 4 4,952 6,000
Debtors: 5 2,156 4,783
Cash at bank and in hand: 5,462 5,767
Total current assets: 12,570 16,550
Creditors: amounts falling due within one year: 6 ( 12,594 ) ( 23,190 )
Net current assets (liabilities): (24) (6,640)
Total assets less current liabilities: 11,667 15,312
Creditors: amounts falling due after more than one year: 7 ( 14,203 ) ( 17,100 )
Total net assets (liabilities): (2,536) (1,788)
Members' funds
Profit and loss account: (2,536) ( 1,788)
Total members' funds: ( 2,536) (1,788)

The notes form part of these financial statements

CORNWALL GYMNASTICS CENTRE C.I.C.

Balance sheet statements

For the year ending 31 May 2024 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 28 January 2025
and signed on behalf of the board by:

Name: Vanessa Mitchell
Status: Director

The notes form part of these financial statements

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures & Fittings - 20% straight line Computer Equipment - 25% straight line

    Other accounting policies

    Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 7 6

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 45,661 1,311 46,972
Additions
Disposals ( 1,000 ) ( 1,000 )
Revaluations
Transfers
At 31 May 2024 44,661 1,311 45,972
Depreciation
At 1 June 2023 24,593 427 25,020
Charge for year 8,933 328 9,261
On disposals
Other adjustments
At 31 May 2024 33,526 755 34,281
Net book value
At 31 May 2024 11,135 556 11,691
At 31 May 2023 21,068 884 21,952

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Stocks

2024 2023
£ £
Stocks 4,952 6,000
Total 4,952 6,000

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Debtors

2024 2023
£ £
Trade debtors 281 4,690
Other debtors 1,875 93
Total 2,156 4,783

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 6,050 5,900
Trade creditors 1
Taxation and social security 1,331 6,161
Other creditors 5,212 11,129
Total 12,594 23,190

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 14,203 17,100
Total 14,203 17,100

CORNWALL GYMNASTICS CENTRE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

8. Loans to directors

Name of director receiving advance or credit: Ashleigh Mitchell
Description of the transaction:
Directors loan, interest free and repayable on demand and repaid within 9 months of the year end
£
Balance at 31 May 2023
Advances or credits made: 274
Advances or credits repaid:
Balance at 31 May 2024 274

COMMUNITY INTEREST ANNUAL REPORT

CORNWALL GYMNASTICS CENTRE C.I.C.

Company Number: 11984901 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

Gymnastics Centre open to members and non members, providing general gymnastics, aswell as schools, from preschool to adult.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Any directors remuneration pay is detailed in the accounts

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 January 2025

And signed on behalf of the board by:
Name: Vanessa Mitchell
Status: Director