| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| (A COMPANY LIMITED BY GUARANTEE) |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| (A COMPANY LIMITED BY GUARANTEE) |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2024 |
| Page |
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 | to | 10 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD (REGISTERED NUMBER: 12093316) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 December 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 31 December 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 charity's objects as detailed by its Memorandum of Association are: |
| aYs is keen to support members to develop their yoga knowledge and teaching by promoting and offering events, including an annual convention, workshops, lectures, and offering bursaries where required to support this. |
| aYs is exploring how to increase the number of teacher training courses available which in due course would increase the number of yoga teachers in this tradition, and the aYs membership. |
| aYs is working to develop the relationship with their sister organisation, TSYP (The Society for Yoga Practitioners. |
| Significant activities |
| At 31st December 2024 there were 169 (2023 - 169) members. |
| Members receive a journal once or twice a year and a newsletter three times a year. The newsletter is distributed to a wider audience than our members, thereby meeting our aim to inform the public. |
| An annual convention is held which is open to the general public and members and offers a high standard of lectures and workshops. |
| Teacher members list their events on the aYs website assisting the general public's awareness of training opportunities in this tradition. |
| To promote membership, there is active maintenance of the website and social media with the aim to engage members and widen the knowledge of aYs and the opportunities it provides. |
| The cloud-based software system MembershipWorks was implemented during the year to manage memberships, renewals and events. This is now being used for all membership renewals and convention bookings. |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD (REGISTERED NUMBER: 12093316) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 December 2024 |
| ACHIEVEMENT AND PERFORMANCE |
| In the year ending 31st December 2024 aYs made an overall surplus of £2,389 (2023 - £5,127) and had net assets of £35,810 as at 31st December 2024 (2023 - £33,421). This was a pleasing result for the year. |
| The 2024 aYs Convention, the 21st, was held in October 2024, jointly with our sister organization TSYP in Northamptonshire, our first joint in-person event with 97 attendees and was a very successful event with excellent feedback from participants. |
| The keynote speaker was R Sriram, a long-time student of TKV Desikachar and renowned teacher of over 40 years based in India and Germany. Mekhala Desikachar also presented a plenary session. |
| The aYs share of the surplus made on convention was £1,798 (2023 £2,237). |
| Monthly practice sanghas continue to be held on-line, for our members to share experiences and knowledge of yoga in this tradition. |
| Continuing Professional Development opportunities are offered through the Convention and events offered by teachers. Events, information and other resources are available on the website. |
| The newsletter has provided a platform for members' opinions, reviews and advertising of events which may be attended by non-members. Once or twice a year, aYs also produces a magazine called the Journal which is for members only, in which longer and more in-depth articles on yoga and its philosophy are printed. |
| BURSARY SCHEME |
| Members are encouraged to apply for a bursary to continue their yoga studies where financial assistance would enable them to do so. One bursary was approved in 2024 and the Trustees have agreed that £5000 be set aside for bursary awards in 2025. |
| FUTURE PLANS |
| The annual convention for 2025, 'Yoga for Transformation', with our guest speaker Gary Kraftsow will be held in October at Eastwood Hall, Nottinghamshire. aYs is delighted that Gary will share his special understanding of the ancient practice of Devata Yoga from his long term studies with TKV Desikachar. Bookings have exceeded expectations and we expect to have a very good attendance for this event. |
| Members are encouraged to apply for a bursary to continue their yoga studies where financial assistance would enable them to do so. One bursary was approved in 2024. |
| 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 |
| Trustees are appointed in accordance with the requirements of the Articles of Association. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD (REGISTERED NUMBER: 12093316) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 December 2024 |
| Trustees |
| Independent Examiner |
| Terence Leslie Smith CA |
| David Shores & Co Ltd |
| 36a Station Road |
| New Milton |
| Hampshire |
| BH25 6JX |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| Independent examiner's report to the trustees of Association for Yoga Studies (AYS) Ltd ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
| I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
| Terence Leslie Smith CA |
| David Shores & Co Ltd |
| 36a Station Road |
| New Milton |
| Hampshire |
| BH25 6JX |
| 14 May 2025 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 33,421 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD (REGISTERED NUMBER: 12093316) |
| BALANCE SHEET |
| 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 7 |
| Unrestricted funds | 33,421 |
| TOTAL FUNDS | 33,421 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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. |
| 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 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| 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. |
| 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. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| 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. |
| 2. | INVESTMENT INCOME |
| 2024 | 2023 |
| £ | £ |
| Deposit account interest |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2024 |
| 4. | STAFF COSTS |
| There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| The average monthly number of employees during the year was as follows: |
| 2024 | 2023 |
| Trustees |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Bursary provision account |
| Accrued expenses |
| 7. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 33,421 | 2,389 | 35,810 |
| TOTAL FUNDS | 2,389 | 35,810 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 28,160 | (25,771 | ) | 2,389 |
| TOTAL FUNDS | ( |
) | 2,389 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2024 |
| 7. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 28,294 | 5,127 | 33,421 |
| TOTAL FUNDS | 28,294 | 5,127 | 33,421 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 32,750 | (27,623 | ) | 5,127 |
| TOTAL FUNDS | 32,750 | (27,623 | ) | 5,127 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 28,294 | 7,516 | 35,810 |
| TOTAL FUNDS | 28,294 | 7,516 | 35,810 |
| 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 | 60,910 | (53,394 | ) | 7,516 |
| TOTAL FUNDS | 60,910 | (53,394 | ) | 7,516 |
| ASSOCIATION FOR YOGA STUDIES (AYS) LTD |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2024 |
| 8. | RELATED PARTY DISCLOSURES |