Registered number
10022231
Spelthorne Gymnastics
Filleted Accounts
31 March 2025
Spelthorne Gymnastics
Registered number: 10022231
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 390,193 425,874
Current assets
Stocks 9,200 300
Debtors 4 57,109 38,414
Cash at bank and in hand 422,062 501,136
488,371 539,850
Creditors: amounts falling due within one year 5 (224,530) (277,317)
Net current assets 263,841 262,533
Total assets less current liabilities 654,034 688,407
Creditors: amounts falling due after more than one year 6 (335,100) (376,780)
Net assets 318,934 311,627
Capital and reserves
Profit and loss account 318,934 311,627
Shareholders' funds 318,934 311,627
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.
R W Cooper
Director
Approved by the board on 13/08/2025
Spelthorne Gymnastics
Notes to the Accounts
for the year ended 31 March 2025
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 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.
It is a not-for-profit public benefit entity with the objective of encouraging, promoting, developing and facilitating the amateur sports of acrobatic gymnastics, tumbling, general gymnastics, pre-school gymnastics, dance and other related activities particularly in the Borough of Spelthorne, Surrey under the auspices of British Gymnastics, the sport's governing body. Its aim is to maintain the highest standards of training possible within the Club so that all gymnasts can reach their full potential.
Turnover
Turnover represents income from membership, training camp and competition fees, demonstrations and other fundraising events, cafe, clothing and other supplies. Turnover is measured at the fair value of the amount received or receivable, net of discounts and value added taxes. 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, including Government agencies and similar bodies 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 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. To the extent that grants and donations from sources other than Government agencies and similar bodies are included in deferred income £nil (2024: £nil), this is a departure from generally accepted accounting practice but considered necessary by the company in order for the accounts to show a true and fair view.
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
A current tax liability is recognised for the tax payable on interest income and cafe profits of the current and past periods. No tax is payable on the not-for-profit activities. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 2025 2024
Number Number
Average number of persons employed by the company 64 57
3 Tangible fixed assets
Short leasehold land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 567,592 825,575 32,851 1,426,018
Additions (4,788) 28,959 - 24,171
Disposals (2,136) (41,890) - (44,026)
At 31 March 2025 560,668 812,644 32,851 1,406,163
Depreciation
At 1 April 2024 190,305 776,989 32,850 1,000,144
Charge for the year 28,575 29,558 - 58,133
On disposals (784) (41,523) - (42,307)
At 31 March 2025 218,096 765,024 32,850 1,015,970
Net book value
At 31 March 2025 342,572 47,620 1 390,193
At 31 March 2024 377,287 48,586 1 425,874
4 Debtors 2025 2024
£ £
Trade debtors 12,250 -
Other debtors 44,859 38,414
57,109 38,414
Amounts due after more than one year included above 18,000 18,000
5 Creditors: amounts falling due within one year 2025 2024
£ £
Other loans 38,341 117,077
Deferred income 17,950 16,437
Taxation and social security costs 6,931 839
Other creditors 161,308 142,964
224,530 277,317
6 Creditors: amounts falling due after one year 2025 2024
£ £
Other loans 335,100 376,780
7 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 203,973 227,069
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 1,233,386 1,326,471
9 Other information
Spelthorne Gymnastics is a private company limited by shares and incorporated in England. Its registered office is:
Laytons Lane
Sunbury-on-Thames
Middlesex
TW16 6LP
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