Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 2024-04-01 1 false The principal activity of the company is marketing and commercial activities associated with The British Amateur Gymnastics Association.1 true true false 02646569 2024-04-01 2025-03-31 02646569 2023-04-01 2024-03-31 02646569 2025-03-31 02646569 2024-03-31 02646569 1 2024-04-01 2025-03-31 02646569 d:Director3 2024-04-01 2025-03-31 02646569 c:MotorVehicles 2024-04-01 2025-03-31 02646569 c:MotorVehicles 2025-03-31 02646569 c:MotorVehicles 2024-03-31 02646569 c:FurnitureFittings 2024-04-01 2025-03-31 02646569 c:FurnitureFittings 2025-03-31 02646569 c:FurnitureFittings 2024-03-31 02646569 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 02646569 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 02646569 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 02646569 c:CurrentFinancialInstruments 2025-03-31 02646569 c:CurrentFinancialInstruments 2024-03-31 02646569 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 02646569 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 02646569 c:ShareCapital 2025-03-31 02646569 c:ShareCapital 2024-03-31 02646569 c:RetainedEarningsAccumulatedLosses 2025-03-31 02646569 c:RetainedEarningsAccumulatedLosses 2024-03-31 02646569 d:OrdinaryShareClass1 2024-04-01 2025-03-31 02646569 d:OrdinaryShareClass1 2025-03-31 02646569 d:OrdinaryShareClass1 2024-03-31 02646569 d:FRS102 2024-04-01 2025-03-31 02646569 d:Audited 2024-04-01 2025-03-31 02646569 d:FullAccounts 2024-04-01 2025-03-31 02646569 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02646569 d:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02646569 4 2024-04-01 2025-03-31 02646569 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2024-04-01 2025-03-31 02646569 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02646569 GYMNASTICS ENTERPRISES LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
GYMNASTICS ENTERPRISES LIMITED REGISTERED NUMBER: 02646569 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 24,313 |  | 47,243
|  |  | 24,313 |  | 47,243
Current assets |  |  |  |  |
Stocks | 6 | 197,880 |  | 377,006 |
Debtors: amounts falling due within one year | 7 | 370,096 |  | 207,790 |
Cash at bank and in hand | 8 | 9,989 |  | 28,714 |
|  | 577,965 |  | 613,510 |
Creditors: amounts falling due within one year | 9 | (1,047,421) |  | (394,656) |
Net current (liabilities)/assets |  |  | (469,456) |  | 218,854
Total assets less current liabilities |  |  | (445,143) |  | 266,097
Net (liabilities)/assets |  |  | (445,143) |  | 266,097
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GYMNASTICS ENTERPRISES LIMITED REGISTERED NUMBER: 02646569 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 2 |  | 2
Profit and loss account |  |  | (445,145) |  | 266,095
|  |  | (445,143) |  | 266,097
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Christopher Davison
Director
Date: 15 October 2025
The notes on pages 3 to 10 form part of these financial statements. Page 2
GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Gymnastics Enterprises Limited (02646569) is a private limited company, limited by shares, incorporated in England and Wales with its registered office and principal place of business at Lilleshall National Sports Centre, Newport, Shropshire, England, TF10 9AT. The principal activity of the Company is marketing and commercial activities associated with The British Amateur Gymnastics Association. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company's forecasts and cashflow projections, taking account of reasonably possible changes in trading performance, suggest that the Company may require additional support to operate within the level of its current facilities. The British Amateur Gymnastics Association has pledged a letter of support, underlining its commitment to support the Company financially for the foreseeable future. After making enquires and taking into account the support pledged by the British Amateur Gymnastics Association, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 3
GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.6 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Development expenditure | - | 5 | years
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | Between 5 and 10 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Page 5
GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 1 | 1
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GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Intangible assets
|  | Development expenditure
|  | £
| Cost |
| At 1 April 2024 | 137,285
| Disposals | (18,112)
| At 31 March 2025 | 119,173
| Amortisation |
| At 1 April 2024 | 90,042
| Charge for the year on owned assets | 22,930
| On disposals | (18,112)
| At 31 March 2025 | 94,860
| Net book value |
| At 31 March 2025 | 24,313
| At 31 March 2024 | 47,243
Page 7
GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 15,376 | 151,632 | 167,008
| Disposals | (15,376) | - | (15,376)
| At 31 March 2025 | - | 151,632 | 151,632
| Depreciation |  |  |
| At 1 April 2024 | 15,376 | 151,632 | 167,008
| Disposals | (15,376) | - | (15,376)
| At 31 March 2025 | - | 151,632 | 151,632
| Net book value |  |  |
| At 31 March 2025 | - | - | -
| At 31 March 2024 | - | - | -
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 197,880 | 377,006
|  | 197,880 | 377,006
| The carrying value of stocks are stated net of a provision totalling £336,329 (2024: £226,012). Impairment charges totalling £110,317 (2024: charges totalling £37,312) were recognised in profit and loss during the year.
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GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 307,822 | 120,193
| Other debtors | 5,429 | 87,597
| Prepayments and accrued income | 56,845 | -
|  | 370,096 | 207,790
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 9,989 | 28,714
|  | 9,989 | 28,714
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 137,702 | 58,817
| Amounts owed to group undertakings | 725,476 | 289,602
| Other creditors | 8,253 | -
| Accruals and deferred income | 175,990 | 46,237
|  | 1,047,421 | 394,656
| There is an intercompany guarantee in place between The British Amateur Gymnastics Association and Gymnastics Enterprises Limited. This guarantee can only be exercised by the Association's bank.
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GYMNASTICS ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares of £1.00 each | 2 | 2
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,552 (2024: £2,536). Contributions totalling £NIL (2024: £NIL) were payable to the fund at the reporting date and are included in creditors.
12. | Related party transactions
| The British Amateur Gymnastics Association wholly owns Gymnastics Enterprises Limited and shares common directors with British Gymnastics Foundation. Gymnastics Enterprises Limited donated £150,000 (2024: £75,000) to British Gymnastics Foundation during the year. There was no outstanding balance at the year end (2024: £nil). As the Company is a wholly owned subsidiary of The British Amateur Gymnastics Association, the Company has taken advantage of the exemption contained in FRS102 and has therefore not disclosed transactions or balances with entities which form part of the group.
13. | Post balance sheet events
Post year end the intercompany loan between Gymnastics Enterprises Limited its parent company has been waived in its entirety.
14. | Controlling party
The Company is a wholly owned subsidiary of The British Amateur Gymnastics Association, a Company incorporated in England. The Directors regard the Company as both the ultimate parent company and the controlling party. Copies of the consolidated financial statements are available from Lilleshall National Sports Centre, Newport, Shropshire, TF10 9AT.
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 16 October 2025 by Andrew Malpass BA FCA (Senior statutory auditor) on behalf of WR Partners.
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