The trustees present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
East Midlands Cheerleading Academy was established to offer cheerleading instruction to the local Nottingham community, with a particular emphasis on engaging young people under 18 in sport. Since its inception in 2008, the organisation’s structure has evolved considerably, both in terms of the range of services provided and the demographics served.
The trustees confirm that the charity continues to operate for public benefit and that they have fully adhered to the guidance issued by the Charity Commission regarding public requirements.
In the past two years, the club has experienced significant growth and now serves over 400 members who participate in competitive teams and recreational classes on a weekly basis. The club has achieved notable success at both domestic and international levels. While female members constitute the majority of the club, there is a smaller proportion of male participants among both children and adults. Membership is open to individuals from the age of three, with no upper age limit, and approximately 50% of members are over 18. The club offers a comprehensive suite of services, including competitive teams, tumble classes, recreational cheerleading, open gym sessions, and baby/toddler stay & play programmes.
Since its founding, EMCA has expanded its reach beyond Nottingham, providing opportunities ranging from international-level cheerleading to weekly toddler social activities. Despite this growth, the club’s mission remains unchanged: to foster a supportive community environment for individuals of all ages to remain active, learn cheerleading, build friendships, and develop skills in teamwork and commitment.
At the end of the reporting period on 31 August 2025, the charity remains in a stable financial position.
Total income for the year amounted to £687,562 (2024: £553,861), an increase of £133,701 compared to the previous year.
Total expenditure for the year was £688,593 (2024: £469,138), an increase of £219,454 compared to the previous year.
At year-end, the charity held total free reserves of £219,200, providing flexibility for operational and strategic needs.
The charity’s total assets stood at £301,122 including cash and tangible fixed assets. Liabilities totalled £21,260 resulting in a net asset position of £279,862.
To enhance revenue streams beyond class, ticket, and kit sales, we continue to lease surplus floor space to both Nottingham Universities and local institutions, including smaller cheerleading gyms and schools throughout the East Midlands.
We remain committed to our scholarship and hardship funding, which is reviewed annually, providing financial support to competitive team athletes in need. This approach ensures inclusive participation in competitive cheerleading within the club.
Last year, our landlord conducted a rent review, resulting in a staggered increase agreement to reach the target rent of £58,000 per annum by the 2025/26 period.
If the charity decides to extend its lease beyond December 2028, it may have to reimburse the landlord for prior roof repair contributions.
Reserves are needed to bridge the gap between the spending and receiving of resources and to cover unplanned emergency repairs and other expenditure.
Reserves at the year end are £219,200 (2024: 227,297), which are sufficient to meet at least 3 months of expenses.
Although the charity does not have a specific reserves policy, it continues to hold significant cash funds, which would be more than sufficient to cover any unexpected costs or loss of income over the next few years. In this upcoming year a reserve policy will be in place to formalise the cash reserve held.
The trustees/directors have a risk management strategy which comprises:
An annual review of the risks the charity may face, discussed at the AGM of the Directors; these include ensuring that the Company has sufficient reserves to meet its liabilities and contingencies, safeguarding and the risk of injury to participants.
They aim to establish systems and procedures to mitigate those risks identified in the plan; and the implementation of procedures designed to minimize any potential impact on the charity should those risks materialise.
The charity intends to maintain and build upon its current activities in the coming years. This includes continuing to enhance revenue streams by leasing surplus floor space to universities, local institutions, and smaller cheerleading gyms and schools across the East Midlands.
The organisation remains dedicated to supporting its athletes through ongoing scholarship and hardship funding, ensuring inclusive participation for competitive team members in need.
Additionally, the charity will implement a formal reserves policy in the upcoming year to better manage its significant cash funds, thereby safeguarding against unexpected costs or loss of income.
The trustees will also monitor property arrangements, including the planned staggered rent increase and considerations regarding the lease extension beyond December 2028, which may involve further financial obligations such as reimbursement for roof repairs.
All these measures reflect the charity’s commitment to responsible governance and the continued delivery of public benefit in line with Charity Commission guidance.
The charity is a company limited by guarantee, as defined by the Companies Act 2006, and is governed by its Memorandum and Articles, as amended by Special Resolution.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees, directors and staff are able to nominate suitable individuals to act as Trustees prior to the AGM. When considering the appointment of new directors and trustees, the existing trustees are seeking a mix of experience and skills. This will become ever more important in the future, as EMCA has grown considerably over the last few years.
The Articles of Association provide for one-third of the Directors to retire at each Annual General Meeting. To date, the Company has continued with the same directors, who were all appointed in 2024.
The Directors have discretion to nominate their own Chairman, and need not do so.
The board of directors, which currently has four members, delegates the day –to-day business of running of the charity, including operational matters, finance, employment and artistic performance related activity, to key management personnel, who are the individuals who had originally been involved in setting up EMCA and had been instrumental in it achieving its current success.
In accordance with the Articles of Association, the Board meets annually. The Board also liaises with these key management personnel as and when required on an ad hoc basis over the course of the year.
New trustees are briefed on decision-making processes, the business plan and recent financial performance of the charity, the management structure and the Memorandum and Articles of Association. They also meet key employees and other trustees.
To reflect the growth of EMCA, it is proposed to hold more detailed induction days in future including, if required, briefings on company law, charity law and public benefit.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
The pay and remuneration of key management personnel within the charity will be determined through a process of benchmarking against comparable roles in the cheerleading industry, ensuring that salaries remain competitive and reflect sector standards. This benchmarking exercise will take into account factors such as, scope of responsibilities, and regional variations to establish fair and appropriate compensation. Recommendations regarding pay and remuneration will be submitted to the board of trustees, who will review and approve all proposed arrangements. The board will periodically re-evaluate these decisions to ensure continued alignment with industry benchmarks and the charity’s financial sustainability, maintaining transparency and accountability throughout the process.
The following individuals are considered to be key management personnel as they make the day to day decisions running the charity and they are remunerated for duties performed:
Anna Mead
Anthony Ridgeway
Helena Shields
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of East Midlands Cheerleading Academy (the charity) for the year ended 31 August 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
East Midlands Cheerleading Academy is a private company limited by guarantee incorporated in England and Wales. The registered office is 21 Handel Street, Nottingham, NG3 1JE.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
A provision in the governing document of the charity has allowed trustees to receive payments during the year to remunerate them for the time spent on administrative matters performed for the charity. Helena Shields received £23,378 (2024 : £20,004).
The average monthly number of employees during the year was:
Key management personnel received remuneration in the year of £86,496.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Deferred income is included in the financial statements as follows:
Deferred income represents amounts received in the period that relate to events in the following period.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Lease payments recognised as an expense amounted to £57,000 (2024: 54,000).
There were no disclosable related party transactions during the year (2024 - none).
The charity had no material debt during the year.