FLIGHT GYMNASTICS ACADEMY C.I.C.

Company limited by guarantee

Company Registration Number:
NI637588 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

FLIGHT GYMNASTICS ACADEMY C.I.C.

Contents of the Financial Statements

for the Period Ended 30 April 2024

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

FLIGHT GYMNASTICS ACADEMY C.I.C.

Directors' report period ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Principal activities of the company

The principal activity of the company is Gymnastics school



Directors

The director shown below has held office during the whole of the period from
1 May 2023 to 30 April 2024

Andrew O'Hare


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
16 April 2025

And signed on behalf of the board by:
Name: Andrew O'Hare
Status: Director

FLIGHT GYMNASTICS ACADEMY C.I.C.

Profit And Loss Account

for the Period Ended 30 April 2024

2024 2023


£

£
Turnover: 736,974 627,558
Cost of sales: ( 42,344 ) ( 16,528 )
Gross profit(or loss): 694,630 611,030
Administrative expenses: ( 714,313 ) ( 660,884 )
Other operating income: 18,778 25,166
Operating profit(or loss): (905) (24,688)
Interest payable and similar charges: ( 2,689 ) ( 3,085 )
Profit(or loss) before tax: (3,594) (27,773)
Profit(or loss) for the financial year: (3,594) (27,773)

FLIGHT GYMNASTICS ACADEMY C.I.C.

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 70,070 98,216
Total fixed assets: 70,070 98,216
Current assets
Cash at bank and in hand: 462 486
Total current assets: 462 486
Creditors: amounts falling due within one year: 4 ( 103,460 ) ( 112,644 )
Net current assets (liabilities): (102,998) (112,158)
Total assets less current liabilities: (32,928) ( 13,942)
Creditors: amounts falling due after more than one year: 5 ( 42,923 ) ( 58,316 )
Total net assets (liabilities): (75,851) (72,258)
Members' funds
Profit and loss account: (75,851) ( 72,258)
Total members' funds: ( 75,851) (72,258)

The notes form part of these financial statements

FLIGHT GYMNASTICS ACADEMY C.I.C.

Balance sheet statements

For the year ending 30 April 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 April 2025
and signed on behalf of the board by:

Name: Andrew O'Hare
Status: Director

The notes form part of these financial statements

FLIGHT GYMNASTICS ACADEMY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Depreciation method and rate Equipment 20% Straight Line

    Other accounting policies

    Government grants Where grants are received, these are recognised in the income statement in the year they are received whether they are revenue or capital in nature. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

FLIGHT GYMNASTICS ACADEMY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 40 25

FLIGHT GYMNASTICS ACADEMY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 159,284 177,974 6,528 343,786
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 159,284 177,974 6,528 343,786
Depreciation
At 1 May 2023 86,556 153,047 5,967 245,570
Charge for year 15,928 11,657 561 28,146
On disposals
Other adjustments
At 30 April 2024 102,484 164,704 6,528 273,716
Net book value
At 30 April 2024 56,800 13,270 0 70,070
At 30 April 2023 72,728 24,927 561 98,216

FLIGHT GYMNASTICS ACADEMY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 177 1,182
Taxation and social security 12,191 3,516
Accruals and deferred income 79,489 99,361
Other creditors 11,603 8,585
Total 103,460 112,644

FLIGHT GYMNASTICS ACADEMY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2024

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

2024 2023
£ £
Bank loans and overdrafts 42,923 58,316
Total 42,923 58,316

COMMUNITY INTEREST ANNUAL REPORT

FLIGHT GYMNASTICS ACADEMY C.I.C.

Company Number: NI637588 (Northern Ireland)

Year Ending: 30 April 2024

Company activities and impact

Flight Gymnastics Academy CIC has continued to provide a wide range of gymnastics activities which have been open to all sections of the community. Our full-time gymnastics facility caters for young people from age 18 months up to adults gymnastics and trampoline classes. We cater for gymnastics and trampoline classes at all levels from grass-roots through to world class levels with a membership of over 1300 gymnasts. We provide regular opportunities for Coach Development and development of Leadership skills allowing young people to gain valuable personal and professional skills and recognised governing body qualifications. This year we have helped train 24 Helper Coaches who now work regularly alongside main coaches being mentored and developing their coaching skills. In addition to the implicit physical health benefits that people get from taking part in gymnastics activities, members of our classes also develop personal and interpersonal skills in a safe, enjoyable environment. Flight continues to work in partnership with a number of other organisations in the local and wider community including Galaxy Trampoline Club, Edmund Rice College, Ballyclare Secondary School, Gymnastics Northern Ireland and British Gymnastics. Flight currently employs 11 full-time staff a further 35 part-time staff providing coaching expertise along with a team of volunteers.

Consultation with stakeholders

Flight’s stakeholders are it’s active members and their parents (1300 gymnasts) and staff (36). While no official consultation process has been conducted this financial year, the company is in regular contact with its members regarding upcoming initiatives and receives feedback from members on current classes. Coaches provide regular feedback on the running of the club and are continually consulted about the direction of classes and future developments.

Directors' remuneration

2 Directors are actively working with the CIC and are therefore receiving a salary.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
8 April 2025

And signed on behalf of the board by:
Name: Andrew O'Hare
Status: Director