VALDEZ GYMNASTICS CLUB CIC

Company limited by guarantee

Company Registration Number:
NI648350 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

VALDEZ GYMNASTICS CLUB CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

VALDEZ GYMNASTICS CLUB CIC

Directors' report period ended 30 September 2024

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

Directors

The directors shown below have held office during the whole of the period from
1 October 2023 to 30 September 2024

Julie Vauls
Darren Large


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
17 June 2025

And signed on behalf of the board by:
Name: Julie Vauls
Status: Director

VALDEZ GYMNASTICS CLUB CIC

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 305,730 223,450
Cost of sales: ( 112,472 ) ( 117,139 )
Gross profit(or loss): 193,258 106,311
Distribution costs: 0 0
Administrative expenses: ( 120,137 ) ( 104,750 )
Other operating income: 0 0
Operating profit(or loss): 73,121 1,561
Interest receivable and similar income: 0 0
Interest payable and similar charges: ( 1,322 ) ( 1,211 )
Profit(or loss) before tax: 71,799 350
Tax: ( 2,050 ) 0
Profit(or loss) for the financial year: 69,749 350

VALDEZ GYMNASTICS CLUB CIC

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 27,979 29,375
Investments:   0 0
Total fixed assets: 27,979 29,375
Current assets
Stocks: 4 4,905 8,366
Debtors: 5 18,144 0
Cash at bank and in hand: 10,318 14,539
Investments:   0 0
Total current assets: 33,367 22,905
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 50,083 ) ( 104,616 )
Net current assets (liabilities): (16,716) (81,711)
Total assets less current liabilities: 11,263 ( 52,336)
Creditors: amounts falling due after more than one year: 7 ( 3,870 ) ( 10,020 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 7,393 (62,356)
Members' funds
Profit and loss account: 7,393 ( 62,356)
Total members' funds: 7,393 (62,356)

The notes form part of these financial statements

VALDEZ GYMNASTICS CLUB CIC

Balance sheet statements

For the year ending 30 September 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 17 June 2025
and signed on behalf of the board by:

Name: Julie Vauls
Status: Director

The notes form part of these financial statements

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 20% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

    Other accounting policies

    Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 8 9

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 0 0 78,278 0 0 78,278
Additions 0 0 5,614 0 0 5,614
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 30 September 2024 0 0 83,892 0 0 83,892
Depreciation
At 1 October 2023 0 0 48,903 0 0 48,903
Charge for year 0 0 7,010 0 0 7,010
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 30 September 2024 0 0 55,913 0 0 55,913
Net book value
At 30 September 2024 0 0 27,979 0 0 27,979
At 30 September 2023 0 0 29,375 0 0 29,375

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Stocks

2024 2023
£ £
Stocks 4,905 8,366
Payments on account 0 0
Total 4,905 8,366

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

2024 2023
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 18,144 0
Total 18,144 0
Debtors due after more than one year: 0 0

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 6,150 5,530
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 18,235 53,188
Accruals and deferred income 25,698 45,898
Other creditors 0 0
Total 50,083 104,616

VALDEZ GYMNASTICS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

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

2024 2023
£ £
Bank loans and overdrafts 3,870 10,020
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 0
Total 3,870 10,020

COMMUNITY INTEREST ANNUAL REPORT

VALDEZ GYMNASTICS CLUB CIC

Company Number: NI648350 (Northern Ireland)

Year Ending: 30 September 2024

Company activities and impact

Valdez Gymnastics Club CIC provided gymnastics training to all ages and abilities from toddlers through to 18 year olds. The club runs an additional needs class on a weekly basis ensuring gymnastics is accessible to all. The club is registered with Special Olympics Ireland with an intention of taking part in Special Olympic activities. In addition to this, the club provided play sessions for parents and babies. These sessions engage local parents of young children and acts as a social forum bringing the local community together for fun and productive sessions. Valdez Gymnastics Club CIC has seen several nursery, primary and SEN schools use the club’s facilities in structured sessions. Valdez Gymnastics Club CIC took part in local competitions giving its members the opportunity to showcase their achievements and compete with other gymnastics clubs. These included various gymnastics disciplines such as women’s artistic, men’s artistic, rhythmic gymnastics, team gym, etc. Five club members were selected to represent Northern Ireland at the British Gymnastics Nation Development Plan finals and British Gymnastics Classic Challenge Finals. A further two club members have been selected for Team Gym British Championships. Twelve members also represented Valdez and Northern Ireland as a region at the Mezzo Cup finals in Team Gym in Crewe, England. One member represented the club at the British Disability Championship held in Wales resulting in two podium places. The club enhanced its programme in Men’s Artistic Gymnastics and took part in various British Gymnastics activities.

Consultation with stakeholders

The stakeholders of Valdez Gymnastics Club CIC are the members and parents. There is an open line of communication between club and parents via various groups on social media and email. Through these lines of communication, suggestions are put forward from both the membership and the club. From these suggestions, various types of new classes and activities now take place. Over recent years, these include more boys classes, some additional competition squads and various new gymnastics disciplines introduced to the weekly timetable.

Directors' remuneration

Directors remuneration was £30,583 during the year ended 30 September 2024.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
17 June 2025

And signed on behalf of the board by:
Name: Julie Vauls
Status: Director