Carmarthenshire School of Gymnastics Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07586118

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		71,258		86,282

			71,258		86,282
CURRENT ASSETS
Debtors	5	9,640		5,550
Cash at bank and in hand		139,678		187,070

		149,318		192,620
Creditors: Amounts Falling Due Within One Year	6	(34,592 )		(53,078 )

NET CURRENT ASSETS (LIABILITIES)			114,726		139,542

TOTAL ASSETS LESS CURRENT LIABILITIES			185,984		225,824

Creditors: Amounts Falling Due After More Than One Year	7		(52,006 )		(71,312 )

NET ASSETS			133,978		154,512

Income and Expenditure Account			133,978		154,512

MEMBERS' FUNDS			133,978		154,512

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Carmarthenshire School of Gymnastics Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

Mrs S Evans

Director

16/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Carmarthenshire School of Gymnastics Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 07586118 . The registered office is Unit 3, Crosshands Square, Crosshands, SA14 6NT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% Straight line
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	10% Reducing balance
Computer Equipment	33% Straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account as incurred.

2.5. Government Grant

Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.

All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2024: 20)

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Carmarthenshire School of Gymnastics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	23,893	36,254	122,501	656	183,304

As at 31 March 2025	23,893	36,254	122,501	656	183,304

Depreciation
As at 1 April 2024	21,503	9,064	66,309	146	97,022
Provided during the period	2,390	6,798	5,620	216	15,024

As at 31 March 2025	23,893	15,862	71,929	362	112,046

Net Book Value
As at 31 March 2025	-	20,392	50,572	294	71,258

As at 1 April 2024	2,390	27,190	56,192	510	86,282

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,890	-
Other debtors	7,750	5,550

	9,640	5,550

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,372	4,372
Bank loans and overdrafts	16,865	25,987
Other creditors	13,355	18,023
Taxation and social security	-	4,696

	34,592	53,078

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	26,417	30,789
Bank loans	13,655	23,942
Other creditors	11,934	16,581

	52,006	71,312

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Carmarthenshire School of Gymnastics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,372	4,372
Later than one year and not later than five years	26,417	30,789

	30,789	35,161

	30,789	35,161

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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