Registered number
11093908
Links Gymnastics (Berkshire) Ltd
Filleted Accounts
31 December 2024
Links Gymnastics (Berkshire) Ltd
Registered number: 11093908
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 223,444 169,422
Current assets
Stocks 15,288 6,710
Debtors 4 37,234 42,480
Cash at bank and in hand 67,115 105,994
119,637 155,184
Creditors: amounts falling due within one year 5 (115,294) (97,301)
Net current assets 4,343 57,883
Total assets less current liabilities 227,787 227,305
Creditors: amounts falling due after more than one year 6 (126,245) (192,025)
Net assets 101,542 35,280
Capital and reserves
Profit and loss account 101,542 35,280
Shareholders' funds 101,542 35,280
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A L Linklater
Director
Approved by the board on 25 March 2025
Links Gymnastics (Berkshire) Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The company is a not-for-profit public benefit entity. Its principal activity which has continued throughout the current accounting period has been the encouragement, coaching and facilitating the amateur sport of artistic gymnastics in association with British Gymnastics, the sport's governing body.
The company is a company limited by guarantee so does not having a share capital. Its members consist of the subscribers to the memorandum of association and any other persons subsequently admitted by the company. Each member guarantees the company up to an amount of £1.
Turnover
Turnover represents income from membership and competition fees, clothing and other supplies. Turnover is measured at the fair value of the amount received or receivable, net of discounts. Turnover from the supply of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the recipient. Turnover from memberships and other activities is recognised where approriate by reference to the stage of completion of its provision, otherwise when the activity has been perfomed. The stage of completion is measured evenly according to the period it relates to or by comparing the attributable cost for its provision to date to its total estimated costs.
Grants and donations receivable
Grants and donations from all sources are recognised when they are receivable and it can be reasonably assumed the conditions attached to them will be complied with. Unless the grant or donation is awarded for the purchase of fixed assets, the whole amount is recognised in income when receivable or, if later, when any performance conditions have been met. Those awarded for the purchase of fixed assets are, where appropriate, included in deferred income on the balance sheet and recognised in income on a systematic basis over the useful economic life of the underlying assets.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Gymnastics equipment over 4 years
Other plant, fixtures, fittings and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
No tax is payable on the not-for-profit activities.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 26
3 Tangible fixed assets
Short leasehold land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 135,279 71,202 41,285 247,766
Additions 47,715 53,135 - 100,850
At 31 December 2024 182,994 124,337 41,285 348,616
Depreciation
At 1 January 2024 12,025 54,278 12,041 78,344
Charge for the year 15,799 20,707 10,322 46,828
At 31 December 2024 27,824 74,985 22,363 125,172
Net book value
At 31 December 2024 155,170 49,352 18,922 223,444
At 31 December 2023 123,254 16,924 29,244 169,422
4 Debtors 2024 2023
£ £
Trade debtors - 6,480
Other debtors 37,234 36,000
37,234 42,480
Amounts due after more than one year included above 36,000 36,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 26,455 24,791
Obligations under finance lease and hire purchase contracts 5,429 4,333
Other loans 41,507 8,942
Taxation and social security costs 4,208 975
Other creditors 37,695 58,260
115,294 97,301
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,474 44,930
Obligations under finance lease and hire purchase contracts 22,552 27,993
Other loans 77,595 119,102
Other creditors 7,624 -
126,245 192,025
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 2,887
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 158,400 217,114
9 Other information
Links Gymnastics (Berkshire) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
68 Straight Road
Old Windsor
Windsor
SL4 2RX
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