Registered number: 01630001
(A company limited by guarantee)
FOR THE YEAR ENDED 31 MARCH 2025
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
COMPANY INFORMATION
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
CONTENTS
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their Strategic Report on the group for the year ended 31 March 2025.
Membership year 2024/25 has seen us continue our aim to deliver an uplifting experience for all and ensure gymnastics is enjoyable, safe and open to everyone in line with our vision and strategy, Leap Without Limits.
Within that, we have made an underpinning commitment to continue our pursuit of inclusion and accessibility in gymnastics. We want everyone to have the opportunity to enjoy the fantastic benefits gymnastics offers and the brilliant foundations it provides for an active life – in doing so we know gymnastics can play its part in addressing wider societal issues.
Our Vision
Our united vision for gymnastics in the UK is to deliver an uplifting experience for all. It’s a vision that has been shaped by the gymnastics community, and is made up of three key elements:
Within that, we have made an underpinning commitment to continue our pursuit of inclusion and accessibility in gymnastics. We want everyone to have the opportunity to enjoy the fantastic benefits gymnastics offers and the brilliant foundations it provides for an active life – in doing so we know gymnastics can play its part in addressing wider societal issues.
Our Vision
Our united vision for gymnastics in the UK is to deliver an uplifting experience for all. It’s a vision that has been shaped by the gymnastics community, and is made up of three key elements:
∙'Uplifting’ – to represent the many physical and mental health benefits of gymnastics, and the enjoyment it brings.
∙‘Experience’ – making positive experiences for everyone central to everything we all do, including the way we involve and treat people and how we deliver gymnastics.
∙‘For All’ – for everyone in gymnastics no matter how you are involved, and ensuring gymnastics is welcoming for people who haven't been involved in the past.
You can find out more about Leap Without Limits, including how we’re making the new vision a reality here: (https://www.british-gymnastics .org/vision).
Attendance at Board & Committee Meetings
The Board of British Gymnastics is committed to the highest standards of corporate governance. The Board and its committees discharged its duties effectively throughout the year holding four Board meetings and a one-day strategy meeting with the attendance record below. In addition, all Board Committees met and operated within their terms of reference, reporting their activities to the Board.
Attendance at Board & Committee Meetings
The Board of British Gymnastics is committed to the highest standards of corporate governance. The Board and its committees discharged its duties effectively throughout the year holding four Board meetings and a one-day strategy meeting with the attendance record below. In addition, all Board Committees met and operated within their terms of reference, reporting their activities to the Board.
Page 1
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Page 2
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Financial Overview
We are pleased to report that membership continues to recover and grow despite challenges experienced over recent years. We thank all our members for their ongoing support in British Gymnastics as we continue to enhance your experience.
Through our partnership with JustGo we were able to deploy our new membership platform in July 2024. This represents a significant milestone for the organisation and provides a solid foundation from which to further develop and enhance member experience in line with digital aspirations. Investment has continued in the financial year and will do so in the forthcoming years as we continue to consolidate systems and add further value through the platform.
Recent years have not been without operational and financial challenges, as is evident in the organisation generating a deficit in the financial year of £1,387,507. Of the consolidated deficit, £711,240 was attributable to Gymnastic Enterprises Limited (GEL), the commercial subsidiary of British Gymnastics. This is not sustainable financially and as such difficult decisions have had to be made. During the period a comprehensive review of commercial operations has been undertaken which resulted in a significant restructure of GEL and its operations. A third-party logistics contract has been terminated, a staff restructure has been completed and a comprehensive review of stock has taken place, the latter which has resulted in a write-down against stock of £354,437, constituting almost half of the deficit within GEL. The review has provided an opportunity to significantly reduce the overhead within GEL and rightsized commercial operations for 2025/26 and beyond. We are confident that the necessary corrective action has taken place and this will ensure the GEL operations begin to stabilise and recover with immediate effect.
Encouragingly, the underlying financial performance of the organisation continues to recover. British Amateur Gymnastics Association, the main trading entity, recorded a deficit of £676,265 in the financial year compared to a deficit of £977,638 in the prior year after adjusting for investment portfolio gains and an ABGIL impairment reversal collectively totalling £328,543. There continues to be a level of cost associated with the Independent Complaints Process which is gradually beginning to subside as outcomes are reached. Management and the Board have confidence that the underlying financial performance will continue to improve with the organisation aiming to return to a balanced budget and ultimately a consistent surplus position to rebuild reserves and embed financial sustainability.
Performance continues to be funded through the activities of the organisation, support of our funding partners and BG’s investment portfolio. The portfolio is governed by an investment policy approved by the Board, with the primary investment objective to achieve sustainable capital growth within a cautious to balanced risk environment. The portfolio is managed by an external fund manager and on 31st March 2025 the market value of the investment portfolio was £465,489. During the year the portfolio value was reduced by £2,000,000 for working capital requirements, offset by investment growth of £3,351 which resulted in a net reduction to the portfolio of £1,996,649.
Management and the Board continue to monitor cash and cash equivalents to ensure the organisation can optimise working capital and meet its financial commitments. The support of our partners and the investment portfolio has provided a degree of insulation from business specific and wider macroeconomic headwinds over recent years. However, management is cognisant that this is not a luxury which can be afforded indefinitely and robust cost and cashflow management will be required to ensure the organisation can continue to operate with the surety of financial stability. Management and the Board are optimistic that the organisation is now well placed to grow and enhance our membership offering and wider support to the gymnastics community which, in turn, will deliver the organisation’s financial goals and metrics. We are confident that there is a clear strategy ahead with the aim of reestablishing the financial security and level of reserves held prior to the Covid pandemic and Whyte Review.
We are pleased to report that membership continues to recover and grow despite challenges experienced over recent years. We thank all our members for their ongoing support in British Gymnastics as we continue to enhance your experience.
Through our partnership with JustGo we were able to deploy our new membership platform in July 2024. This represents a significant milestone for the organisation and provides a solid foundation from which to further develop and enhance member experience in line with digital aspirations. Investment has continued in the financial year and will do so in the forthcoming years as we continue to consolidate systems and add further value through the platform.
Recent years have not been without operational and financial challenges, as is evident in the organisation generating a deficit in the financial year of £1,387,507. Of the consolidated deficit, £711,240 was attributable to Gymnastic Enterprises Limited (GEL), the commercial subsidiary of British Gymnastics. This is not sustainable financially and as such difficult decisions have had to be made. During the period a comprehensive review of commercial operations has been undertaken which resulted in a significant restructure of GEL and its operations. A third-party logistics contract has been terminated, a staff restructure has been completed and a comprehensive review of stock has taken place, the latter which has resulted in a write-down against stock of £354,437, constituting almost half of the deficit within GEL. The review has provided an opportunity to significantly reduce the overhead within GEL and rightsized commercial operations for 2025/26 and beyond. We are confident that the necessary corrective action has taken place and this will ensure the GEL operations begin to stabilise and recover with immediate effect.
Encouragingly, the underlying financial performance of the organisation continues to recover. British Amateur Gymnastics Association, the main trading entity, recorded a deficit of £676,265 in the financial year compared to a deficit of £977,638 in the prior year after adjusting for investment portfolio gains and an ABGIL impairment reversal collectively totalling £328,543. There continues to be a level of cost associated with the Independent Complaints Process which is gradually beginning to subside as outcomes are reached. Management and the Board have confidence that the underlying financial performance will continue to improve with the organisation aiming to return to a balanced budget and ultimately a consistent surplus position to rebuild reserves and embed financial sustainability.
Performance continues to be funded through the activities of the organisation, support of our funding partners and BG’s investment portfolio. The portfolio is governed by an investment policy approved by the Board, with the primary investment objective to achieve sustainable capital growth within a cautious to balanced risk environment. The portfolio is managed by an external fund manager and on 31st March 2025 the market value of the investment portfolio was £465,489. During the year the portfolio value was reduced by £2,000,000 for working capital requirements, offset by investment growth of £3,351 which resulted in a net reduction to the portfolio of £1,996,649.
Management and the Board continue to monitor cash and cash equivalents to ensure the organisation can optimise working capital and meet its financial commitments. The support of our partners and the investment portfolio has provided a degree of insulation from business specific and wider macroeconomic headwinds over recent years. However, management is cognisant that this is not a luxury which can be afforded indefinitely and robust cost and cashflow management will be required to ensure the organisation can continue to operate with the surety of financial stability. Management and the Board are optimistic that the organisation is now well placed to grow and enhance our membership offering and wider support to the gymnastics community which, in turn, will deliver the organisation’s financial goals and metrics. We are confident that there is a clear strategy ahead with the aim of reestablishing the financial security and level of reserves held prior to the Covid pandemic and Whyte Review.
Page 3
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Data Protection
British Gymnastics, like all organisations, faces significant data protection risks, particularly relating to an increase in cyber crime including phishing emails, which has the potential to cause major disruption. We continue to improve our cybersecurity position and have revised business continuity plans to ensure effective recovery in the event of a significant security incident. We have made improvements to our policy and IT architecture, increased the data protection team’s capacity and continue to upskill staff to ensure data is appropriately handled and protected.
Progress Review
The review below provides an overview of some of the key activity from the year that has seen us take our first steps towards achieving our long-term vision. While it by no means covers everything we have done, it outlines how we have focused on improving our support and provision for our members and clubs, continued our reforms to transform gymnastics and protect the welfare and safety of all those involved.
Our sport’s wider impact was also recognised in Parliament, where the British Gymnastics Foundation celebrated its 10th anniversary.
On the international stage, further progress was made towards the inclusion of Para-Gymnastics in the Paralympics, with the discipline formally recognised by FIG. At the same time, pathway gymnasts across all disciplines continued to lead through inspiring ‘Live, Train, Compete’ initiatives, selecting their own focus areas for social impact - most notably uniting across artistic and trampoline squads to stand together against racism.
British Gymnastics, like all organisations, faces significant data protection risks, particularly relating to an increase in cyber crime including phishing emails, which has the potential to cause major disruption. We continue to improve our cybersecurity position and have revised business continuity plans to ensure effective recovery in the event of a significant security incident. We have made improvements to our policy and IT architecture, increased the data protection team’s capacity and continue to upskill staff to ensure data is appropriately handled and protected.
Progress Review
The review below provides an overview of some of the key activity from the year that has seen us take our first steps towards achieving our long-term vision. While it by no means covers everything we have done, it outlines how we have focused on improving our support and provision for our members and clubs, continued our reforms to transform gymnastics and protect the welfare and safety of all those involved.
Our sport’s wider impact was also recognised in Parliament, where the British Gymnastics Foundation celebrated its 10th anniversary.
On the international stage, further progress was made towards the inclusion of Para-Gymnastics in the Paralympics, with the discipline formally recognised by FIG. At the same time, pathway gymnasts across all disciplines continued to lead through inspiring ‘Live, Train, Compete’ initiatives, selecting their own focus areas for social impact - most notably uniting across artistic and trampoline squads to stand together against racism.
Page 4
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
TRANSFORMING OUR MEMBERSHIP
Continued support and growth
As a membership organisation, the experience of our members is central to everything we do, because it is you, the members, who enable this incredible sport to thrive. We once again saw membership growth for the 2024/25 membership year with existing members returning and new members signing up leading to an annual increase of 4% to 400,096 – the highest membership level since before the pandemic.
Below provides a snapshot of the numbers. We hope every one of our members is proud to be part of the BG family, who together make up one of the largest membership communities in sport in the UK.
Page 5
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Membership Modernisation
The past year saw the continuation of the development of our new membership system – My BG. For our registered clubs, we launched a free to use club management system – JustGo for Clubs, complete with class bookings. This enables clubs to run most of their operations through one system, reducing admin and providing a better experience for our members. Also launched, is the British Gymnastics Funding Portal to support our clubs in sourcing local and national funding pots.
Fairness and protection for all clubs
As part of our responsibility to progress the sport forward positively we continued to take steps to ensure all clubs follow our membership rules by ensuring all their members are registered with British Gymnastics. This ensures the terms of the insurance protection provided by British Gymnastics and other policies clubs may have outside of this are not invalidated. This was raised in relation to what is known as ‘dual registration.’ Dual registration can compromise the protection and welfare of members, and undermines fairness for clubs, and therefore isn’t permitted under our membership rules. This can occur in several ways – an example of dual registration is where a club may have split the registration of their members between British Gymnastics and another provider, or for instance holds an additional independent insurance policy.
Celebrating our sport and members
The annual British Gymnastics Awards were announced in April 2023, recognising and celebrating the achievements of the most inspirational people within the gymnastics community. From outstanding elite gymnasts proudly performing on the world stage, to the passionate workforce and volunteers who deliver the benefits of gymnastics every week to communities across the country, our awards celebrated those who are making brilliant contributions across the sport.
Building the foundations for active lives
As a foundation sport, gymnastics helps participants explore how their bodies can move and can set them on the path towards an active life. Rise Gymnastics is our way of doing this, providing a fun-packed recreational programme and award scheme. It is a modern take on our wonderful sport, and replaces the more traditional skill badge approach with a new direction that’s founded on community insight and expertise in child development and physical literacy.
Since April, we've seen 19 new clubs start delivering Rise Gymnastics. An additional activation pack for the Discover phase was created last year and is now available to purchase, giving members more pre-school themes to use. Rise Gymnastics competitions are proving popular, with 72 local competitions organised so far by our clubs and partner leisure centres (plus 433 schools that entered Rise competitions as part of the School Games last academic year alone).
Over a third of British Gymnastics are delivering Rise Gymnastics, 578 to be exact!
The past year saw the continuation of the development of our new membership system – My BG. For our registered clubs, we launched a free to use club management system – JustGo for Clubs, complete with class bookings. This enables clubs to run most of their operations through one system, reducing admin and providing a better experience for our members. Also launched, is the British Gymnastics Funding Portal to support our clubs in sourcing local and national funding pots.
Fairness and protection for all clubs
As part of our responsibility to progress the sport forward positively we continued to take steps to ensure all clubs follow our membership rules by ensuring all their members are registered with British Gymnastics. This ensures the terms of the insurance protection provided by British Gymnastics and other policies clubs may have outside of this are not invalidated. This was raised in relation to what is known as ‘dual registration.’ Dual registration can compromise the protection and welfare of members, and undermines fairness for clubs, and therefore isn’t permitted under our membership rules. This can occur in several ways – an example of dual registration is where a club may have split the registration of their members between British Gymnastics and another provider, or for instance holds an additional independent insurance policy.
Celebrating our sport and members
The annual British Gymnastics Awards were announced in April 2023, recognising and celebrating the achievements of the most inspirational people within the gymnastics community. From outstanding elite gymnasts proudly performing on the world stage, to the passionate workforce and volunteers who deliver the benefits of gymnastics every week to communities across the country, our awards celebrated those who are making brilliant contributions across the sport.
Building the foundations for active lives
As a foundation sport, gymnastics helps participants explore how their bodies can move and can set them on the path towards an active life. Rise Gymnastics is our way of doing this, providing a fun-packed recreational programme and award scheme. It is a modern take on our wonderful sport, and replaces the more traditional skill badge approach with a new direction that’s founded on community insight and expertise in child development and physical literacy.
Since April, we've seen 19 new clubs start delivering Rise Gymnastics. An additional activation pack for the Discover phase was created last year and is now available to purchase, giving members more pre-school themes to use. Rise Gymnastics competitions are proving popular, with 72 local competitions organised so far by our clubs and partner leisure centres (plus 433 schools that entered Rise competitions as part of the School Games last academic year alone).
Over a third of British Gymnastics are delivering Rise Gymnastics, 578 to be exact!
∙356 Clubs
∙134 Leisure Centres
∙49 Partner Schools
∙39 School Delivery Partners
Page 6
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Investing in gymnastics facilities where they are most needed
Over the course of the year, our facilities investment programme, Club Capital, supported five clubs with loans totalling £657,000. Club Capital is a social impact investment fund and offers secured and unsecured loans to enable eligible clubs to move into new, or expand or safeguard existing, dedicated gymnastics facilities. It has a particular focus on helping to create opportunities for people who may otherwise not have got involved in the sport, with evaluation of loans taking into account improvements the loan would make to accessibility of sites, deprivation areas, impact on the surrounding community and the impact to members.
Examples of the range of impact achieved as a result of the scheme have been Olympic gymnast Joe Fraser achieving his dream of opening his own gymnastics club with the support of Club Capital and the British Gymnastics community team.
Everyone belongs in Gymnastics
In Leap Without Limits, we made a commitment to be relentless in our pursuit of inclusion and accessibility in gymnastics. This is a journey and there is still much to do, EDI Lead Natasha Mills has led the way with the creation of our Diversity and Inclusion Action Plan (DIAP) approved by UK Sport and Sport England. The DIAP will continue to drive and challenge our journey to be truly inclusive, both in our organisation and in the sport of gymnastics across the country.
Communications have continued to tell the story of inclusive gymnastics by highlighting and celebrating inspirational gymnasts, coaches and club. Underpinning this through our programmes, community guidance and advice to ensure inclusion is always at the heart of what we do.
SAFEGUARDING OUR SPORT
Welfare & Safe Sport
Geraldine Costello has continued to drive improvements in her role as Director of Welfare & Safe Sport. The team focuses on welfare, working with the community, providing targeted support to those affected during the safeguarding process, and proactively supporting gymnasts on national performance squads. Geraldine has played a pivotal role in leading, shaping and delivering a strategic approach to welfare and safe sport that is both positive and person-centred, ensuring the welfare of all involved in the sport is paramount in our approach and thinking.
#BeTheChange campaign
We continued our work to promote a safe and fair sport with our #BeTheChange campaign, which encourages people to think about the positive change they can make, highlighting that as a gymnastics community, we need to support and challenge one another to be better to make our sport safer. This included an important spotlight on pain, injury and illness, and on flexibility, reflecting our commitment to safe and sustainable gymnastics.
Further information is available at www.british-gymnastics.org/bethechange.
Over the course of the year, our facilities investment programme, Club Capital, supported five clubs with loans totalling £657,000. Club Capital is a social impact investment fund and offers secured and unsecured loans to enable eligible clubs to move into new, or expand or safeguard existing, dedicated gymnastics facilities. It has a particular focus on helping to create opportunities for people who may otherwise not have got involved in the sport, with evaluation of loans taking into account improvements the loan would make to accessibility of sites, deprivation areas, impact on the surrounding community and the impact to members.
Examples of the range of impact achieved as a result of the scheme have been Olympic gymnast Joe Fraser achieving his dream of opening his own gymnastics club with the support of Club Capital and the British Gymnastics community team.
Everyone belongs in Gymnastics
In Leap Without Limits, we made a commitment to be relentless in our pursuit of inclusion and accessibility in gymnastics. This is a journey and there is still much to do, EDI Lead Natasha Mills has led the way with the creation of our Diversity and Inclusion Action Plan (DIAP) approved by UK Sport and Sport England. The DIAP will continue to drive and challenge our journey to be truly inclusive, both in our organisation and in the sport of gymnastics across the country.
Communications have continued to tell the story of inclusive gymnastics by highlighting and celebrating inspirational gymnasts, coaches and club. Underpinning this through our programmes, community guidance and advice to ensure inclusion is always at the heart of what we do.
SAFEGUARDING OUR SPORT
Welfare & Safe Sport
Geraldine Costello has continued to drive improvements in her role as Director of Welfare & Safe Sport. The team focuses on welfare, working with the community, providing targeted support to those affected during the safeguarding process, and proactively supporting gymnasts on national performance squads. Geraldine has played a pivotal role in leading, shaping and delivering a strategic approach to welfare and safe sport that is both positive and person-centred, ensuring the welfare of all involved in the sport is paramount in our approach and thinking.
#BeTheChange campaign
We continued our work to promote a safe and fair sport with our #BeTheChange campaign, which encourages people to think about the positive change they can make, highlighting that as a gymnastics community, we need to support and challenge one another to be better to make our sport safer. This included an important spotlight on pain, injury and illness, and on flexibility, reflecting our commitment to safe and sustainable gymnastics.
Further information is available at www.british-gymnastics.org/bethechange.
Page 7
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
National Welfare Officer Conference
The Welfare and Safe Sport team have been working collaboratively with Regional Welfare Officers and Sport England-funded Welfare Officers operating in Active Partnerships and ensuring anyone working in the welfare space has the support they need. We continued this support with the second National Welfare Officer Conference held in London. Bringing together those who take on this responsibility at gymnastics clubs and venues right across the country. This is just one part of what we are doing to ensure they all feel supported in helping to keep gymnastics and everyone in it safe.
DEVELOPING OUR PEOPLE
Re-imagining and re-focusing our learning and development in gymnastics simply doesn’t happen without a workforce, and it cannot thrive without a motivated and high-quality one that embraces a culture of continuous learning and development. That’s why, as part of our new united vision of delivering an uplifting experience for all, we made a commitment to develop a new approach for learning and development in gymnastics.
We have continued our Learning and Development Strategic Plan, re-imagining the way we approach learning and development in gymnastics through re-focusing on the things that are most important to best support and re-inspire anyone who makes gymnastics happen.
You can read the plan in full at www.british-gymnastics.org/learning-and-development.
The plan is built around six key principles, designed to guide us when making choices about what, why, when, where, who and how we do and don’t do things. These are:
1. Consistent: We improve our practice together through consistently excellent learning experiences
2. Continuous: We are on a learning journey together and committed to continually improving
3. Coherent: We make sure what we do is joined up, so people have a coherent learning journey that makes sense
4. Community: We trust each other and work together to better understand the things that will make the biggest difference across our community
5. Contemporary: We develop a blend of contemporary learning experiences that help us all feel trusted, cared for and confident.
The Welfare and Safe Sport team have been working collaboratively with Regional Welfare Officers and Sport England-funded Welfare Officers operating in Active Partnerships and ensuring anyone working in the welfare space has the support they need. We continued this support with the second National Welfare Officer Conference held in London. Bringing together those who take on this responsibility at gymnastics clubs and venues right across the country. This is just one part of what we are doing to ensure they all feel supported in helping to keep gymnastics and everyone in it safe.
DEVELOPING OUR PEOPLE
Re-imagining and re-focusing our learning and development in gymnastics simply doesn’t happen without a workforce, and it cannot thrive without a motivated and high-quality one that embraces a culture of continuous learning and development. That’s why, as part of our new united vision of delivering an uplifting experience for all, we made a commitment to develop a new approach for learning and development in gymnastics.
We have continued our Learning and Development Strategic Plan, re-imagining the way we approach learning and development in gymnastics through re-focusing on the things that are most important to best support and re-inspire anyone who makes gymnastics happen.
You can read the plan in full at www.british-gymnastics.org/learning-and-development.
The plan is built around six key principles, designed to guide us when making choices about what, why, when, where, who and how we do and don’t do things. These are:
1. Consistent: We improve our practice together through consistently excellent learning experiences
2. Continuous: We are on a learning journey together and committed to continually improving
3. Coherent: We make sure what we do is joined up, so people have a coherent learning journey that makes sense
4. Community: We trust each other and work together to better understand the things that will make the biggest difference across our community
5. Contemporary: We develop a blend of contemporary learning experiences that help us all feel trusted, cared for and confident.
Page 8
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
INSPIRING OUR NATION
Performing well on the international stage
This year has been one of remarkable progress and proud moments for British Gymnastics. At the heart of it all was an incredible Olympic Games in Paris, where we not only celebrated medal success but also witnessed inspiring performances and the unity of our gymnastics community.
Our performance programmes have been strengthened with a new line-up of Head National Coaches, helping to foster positive, collaborative cultures across teams and pathways.
A thriving national competition programme
We also saw some impeccable talent across our British Championship competitions. We had the pleasure of hosting the Artistic British in Liverpool, Acrobatic, Aerobic and Rhythmic British and Trampoline, Tumbling and DMT British in Telford, TeamGym British in Northumbria, Adult British in Lilleshall and Disability British in Cardiff.
Across the six events, we saw over 2,000 British gymnasts showcase their talent and we can’t put into words the joy it brought us and the thousands of spectators and viewers. We’re blown away each year by the incredible performances and teamwork displayed. None of this would be possible without the support of coaches, parents, clubs, officials and volunteers in so many ways – thank you to each and every one of them.
Paralympic ambition continued
British Gymnastics have continued work towards our ambition for gymnastics to become a Paralympic sport by Brisbane 2032. This work has been led from a British perspective by Patrick Bonner, British Gymnastics Foundation’s Managing Director, and Dr Angela Turner, Chair of British Gymnastics’ Disability Panel – both of whom are integral members of the FIG Para-Gymnastics Working Group, which has been set up by FIG to progress this work internationally.
The working group continues to progress with the development of a FIG Code of Points and the development of a classification system for Men's and Women's Artistic Para-Gymnastics.
Para-gymnastics was formally recognised as a new discipline within the family of FIG disciplines. All FIG member nations had the opportunity to cast their vote and its success enables us to forge ahead with the ambitious plans we have.
Page 9
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The above provides an overview of just some of the progress that was made during the year, laying strong foundations for us to build on for 2025/26 and beyond. We wanted to take a moment to thank all our members, who by becoming a BG member help to make gymnastics what it is. As the national governing body for gymnastics, we are a not-for-profit member organisation who are here for our members and for gymnastics. By joining BG, members help to make gymnastics better now and in the future through our work to deliver an uplifting gymnastics experience for all, with us investing membership fees back into supporting members and the sport through our work to promote it and develop the people, places, programmes and protection that help gymnastics and everyone in it to thrive.
We’d also like to give a special mention to our dedicated workforce of coaches, club owners, judges, technical officials and safeguarding officers – all supported by an amazing army of parents and other volunteers working tirelessly behind the scenes.
We are grateful to all of you, our gymnastics family, for everything you do for the sport.
This report was approved by the board and signed on its behalf.
Page 10
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their report and the financial statements for the year ended 31 March 2025.
The Directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The deficit for the year, after taxation, amounted to £1,387,507 (2024 - deficit £818,150).
Page 11
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Directors who served during the year were:
Page 12
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 13
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
We have audited the financial statements of British Amateur Gymnastics Association (The) (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
Page 14
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE) (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
Page 15
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE) (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and the Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).
We understood how the Company and the Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.
We assessed the susceptibility of the Company and Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
Page 16
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE) (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
Page 17
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
Page 18
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
REGISTERED NUMBER: 01630001
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 25 to 47 form part of these financial statements.
Page 19
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
REGISTERED NUMBER: 01630001
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Page 20
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 21
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 22
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Page 23
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Page 24
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company is a private company limited by guarantee and is incorporated in England. The Company has a wholly owned subsidiary, Gymnastics Enterprises Limited, the results of which are included in the consolidated financial statements. The address of the registered office is Lilleshall National Sports Centre, Newport, Shropshire, TF10 9AT.
The principal activity is supporting gymnastics in Britain.
The principal activity is supporting gymnastics in Britain.
2.Accounting policies
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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The Group's forecast and projections, taking into account of reasonably possible downside changes in trading performance, indicate sufficient cash headroom for a period of at least 12 months from the date of approval of these financial statements.
At 31 March 2025, the Group had net current liabilities of £3,379,188 (2024: £3,894,127) including cash balances of £3,091,533 (2024: £2,842,916). The Group also holds listed investments totalling £463,008 (2024: £2,459,846) which can be sold to provide additional liquidity.
After making enquiries, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements.
At 31 March 2025, the Group had net current liabilities of £3,379,188 (2024: £3,894,127) including cash balances of £3,091,533 (2024: £2,842,916). The Group also holds listed investments totalling £463,008 (2024: £2,459,846) which can be sold to provide additional liquidity.
After making enquiries, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements.
Page 25
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
Page 26
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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:
Page 27
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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.
The estimated useful lives range as follows:
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 28
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
Page 29
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Group 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 Group's Balance sheet when the Group 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.
Discounting is omitted where the effect of discounting is immaterial. The Group'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.
Page 30
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies 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.
Page 31
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates, will by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
Valuation of Intangible Fixed Assets
Intangible fixed assets relate to development expenditure and are held at cost less impairment. No amortisation has been applied to the development expenditure as the assets are still within the development phase.
Management perform an internal assessment of the carrying value of intangible fixed assets and consider whether any indicators of impairment are present. No impairment requirement has been identified in the year ended 31 March 2025. The carrying value of intangible fixed assets for the Group is £590,087 (2024: £863,437) of which £570,120 (2024: £802,195) relates to development expenditure.
Page 32
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 33
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 34
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 35
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
There were no factors that may affect future tax charges.
Page 36
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The deficit after tax of the parent Company for the year was £1,401,743 (2024 - deficit £649,092 ).
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
Page 37
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14.Intangible assets (continued)
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
Page 38
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
Page 39
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15.Tangible assets (continued)
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
Page 40
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
Page 41
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 42
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 43
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Other creditors greater than one year relate to grant funded assets that are being amortised over the life of the asset.
Bank loans are secured by a fixed charge over the fixed assets and stock held by the Company.
Bank loans are secured by a fixed charge over the fixed assets and stock held by the Company.
Page 44
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
Page 45
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Profit and loss account
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The civil claims brought against the organisation and its insurers in 2022 are still in progress. Three claims pre-date the insurance coverage retroactive date, and as such will financially revert to BG in the event of the claims being successful. Current estimates of settlement including legal costs for all of the above have been provided for in these financial statements. Additionally, there remains the possibility of further currently unknown claims pre-dating the coverage retroactive date, the value of which cannot be estimated. The quantum and timing of any potential liability for all uninsured claims is unknown at this point.
Page 46
BRITISH AMATEUR GYMNASTICS ASSOCIATION (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 47