FLexercise WLHB Charity Accounts

COMPANY REGISTRATION NUMBER: 00487405

CHARITY REGISTRATION NUMBER: 226127

FLexercise WLHB

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2026

FLexercise WLHB

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2026

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	5

Statement of financial activities (including income and expenditure account)	6

Statement of financial position	7

Notes to the financial statements	8

FLexercise WLHB

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2026

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2026 .

Reference and administrative details

Registered charity name	FLexercise WLHB

Charity registration number	226127

Company registration number	00487405

Principal office	PO Box 6981
	Basingstoke
	RG24 4GH

Registered office	c/o Richard Place Dobson
	Chartered Accountants
	1-7 Station Road
	Crawley
	RH10 1HT
	West Sussex

The trustees

	L Berry
	J Gronow
	S Floyd
	I Milne (Chair)
	A Stevenson
	M Peggie

Founder Mary Bagot Stack

President Saba Douglas-Hamilton

Vice Presidents Margaret Peggie OBE

Rosemary Barber

Helen (Pikkie) Smith

Company Secretary S Floyd

Independent examiner	Thomas McManners BSC ACA ACMI

Structure, governance and management

Governing document

Founded in 1930 by Mary Bagot Stack, the organisation was incorporated as a charity, limited by guarantee and is governed by its Articles of Association, the latest version, approved by the AGM on 27 November 2021 and confirmed at the AGM on 25 November 2023. Under the Companies Act 2006 the organisation is permitted to omit the word 'Limited' from its title. All members of the charity have voting rights within the organisation.

Appointment of Trustees

As set out in the Articles of Association, the Trustees are appointed by the members of the Association at annual general meetings. Trustees must retire at annual general meetings at least once every three years. At the end of the third term of their office, they shall automatically step down and may not be reappointed until the expiry of 12 months after the end of their third term of office. The Trustees meet at regular intervals throughout the year. Sub-groups exist as and when necessary. For the 2025/26 FY there was the Events team.

Risk Management

The Trustees have examined the major strategic, business and operational risks that the charity faces and confirm that systems have been established to enable reports to be produced so that the necessary steps can be taken to lessen the risks. A key element in the management of financial risk is the setting of a reserves policy and its regular review along with the risk register by the trustees.

Objectives and activities

The agreed objectives of the charity are:

(a) to promote health, physical fitness, education and training by supporting teachers to provide opportunities for the showcasing of the Bagot Stack exercise system for the public benefit

(b) to support teachers, trainers and assessors qualified in the Bagot Stack exercise system

(c) to support provision of professional development opportunities for those involved in providing the Bagot Stack exercise system

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The charity carried out the objectives by the assisted funding of training of teachers and the promotion of physical education in the form of classes etc. which are available to the general public.

Achievements and performance

The number of classes across the UK has remained similar to previous years. Some new classes have been started by those who have completed the Apprentice Scheme. A few teachers are continuing to take classes online thus giving the opportunity to those without classes in their area to benefit from FLexercise.

Our social media presence continues to keep FLexercise in the public domain. The website is regularly updated to include new blogs (articles) and the class search. There is a Facebook presence with regular posts and some activity on Instagram.

The Apprentice Scheme is designed for a student to train to become a teacher in a FLexercise class working with the local teacher and tutor. Students are required to have an Anatomy and Physiology qualification which can be organised on their behalf at a subsided fee. During the year of this report four (in 2024/5 one) have completed the scheme and are running classes, and four more have started their training. Regular enquiries are received though a number do not materialise into undertaking the training.

The teachers have had opportunities to attend CPD courses at Lilleshall, Edinburgh and Torquay which have been organised by the FLexercise Teachers network (FLTN). A grant was given to help facilitate these courses and make them affordable to all the teachers.

The Supported Earnings grant, to help any teacher starting a new class, has been utilised. The amount of the grant to each teacher varies depending on cost of venue and income received from participants attending. The support has been gratefully received and helped those teachers to get their classes established. Class promotion grants continue to be available for all teachers whether they are starting a new class or need to give their existing class a boost. Other grants available for teachers are towards the cost of the First Aid at Work course which is taken every three years. It felt important for teachers to have the up-to-date knowledge and relevant qualification should unfortunately an incident happen while they are teaching. A teacher may apply for grant aid towards training outside the organisation which will enhance her teaching of the Bagot-Stack system. All grants have criteria attached which must be adhered to. Applications are viewed and monitored by Trustees.

The WLHB membership is for those who wish to support the charity. Teachers can voluntarily be WLHB members and are counted as members similar to any class participant or interested person with the same voting rights and requirement to pay the fee. The number of WLHB members on 31 March 2026 was 223 (March 2025: 259).

FLexercise WLHB is an organisation member of EMD UK which continues to be a successful arrangement.

The charity has consultants with the following remits:

Clerk & Charity Administrator

Training Co-ordinator (this relates to the Apprentice Scheme which is organised by the charity)

Social Media Co-ordinator

All three consultants holding these posts are active teachers.

Additionally work on the website e.g. changes of information as requested by the charity, and regular maintenance of the site is carried out by an external consultant.

These arrangements for the business of the charity work well and the Trustees are grateful to the individual consultants carrying out the work.

Should any other expertise be required then the Trustees would arrange this as necessary.

During 2025/26 the charity continued to pursue its objectives, as effectively as possible and will continue to do so into the future. The main aim of the charity is to provide grants to support the Bagot Stack system and its delivery for the public benefit.

The income generated from the operation activities has not met the costs involved but this was expected and was within the plan for the charity. However two legacies have been received. One for general use amounting to £17,318 and a second one of £10k to be used for training new teachers. The latter has been moved into a specific reserve fund.

In October 2025 there was the very successful 95th Event held at the Friends Meeting House in Euston. It was not planned for the event to make a profit and the Trustees allowed an amount up to £10k to be used. the final figure used came to £8,650. Attendees paid for a ticket to attend and/or participate in the classes and display at the event. Commemorative pens were sold. the gala dinner in the evening was a totally self-funding activity.

Financial review

During the year, general fees (including WLHB membership) £2,244 (2025 £5,042); Total income recorded as donations (including legacies) for the year £29,194. (2025 £8,290). Investment income was £4,676 (2025: £5,656). The total resources expended totalled £63,509 (2025: £66,243).

Reserves Policy

The Trustees have been advised that for the closure of the charity a reserve of £50k should be

allowed, therefore the previous level of £25k was increased to £50k The rest of the reserves can be used to bridge the funding gap between spending in relation to the charity's expenditure and receiving income. Reserves are also held for any unforeseen expenditure.

The actual reserves (excluding designated funds and restricted funds) at 31 March 2026 were £153,227 (2025: £181,105) which exceeds the above amount of £50,000. The Trustees believe that the level of reserves is sufficient for current challenges. They recognise that by providing grants for the fulfillment of the objects and with a smaller income going forward the reserves will reduce over the coming years. There will still be reserves to provide financial flexibility when required. The Trustees continue to review the organisation to assess its sustainability and viability.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 15 July 2026 and signed on behalf of the board of trustees by:

S Floyd	I Milne (Chair)
Trustee	Trustee

FLexercise WLHB

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of FLexercise WLHB

Year ended 31 March 2026

I report to the trustees on my examination of the financial statements of FLexercise WLHB ('the charity') for the year ended 31 March 2026.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement

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:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. 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 accounts 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 accounts to be reached.

Thomas McManners BSC ACA ACMI

Independent Examiner

TTCA Ltd

15 July 2026

FLexercise WLHB

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2026

	2026			2025
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income and endowments

Donations and legacies	5	21,438	10,000	31,438	8,920
Other trading activities	6	20,945	–	20,945	4,875
Investment income	7	4,676	–	4,676	5,656
		--------	--------	--------	--------
Total income		47,059	10,000	57,059	19,451
		--------	--------	--------	--------

Expenditure

Expenditure on raising funds:

	Costs of other trading activities	8	45,265	–	45,265	29,206
Expenditure on charitable activities		9,10	18,243	–	18,244	37,037
			--------	--------	--------	--------
Total expenditure			63,508	–	63,509	66,243
			--------	--------	--------	--------

Net losses on investments	11	( 11,429)	–	( 11,429)	( 7,754)

	--------	--------	--------	--------
Net expenditure and net movement in funds	( 27,878)	10,000	( 17,879)	( 54,546)
	--------	--------	--------	--------

Reconciliation of funds

Total funds brought forward	181,105	–	181,105	235,650
	---------	--------	---------	---------
Total funds carried forward	153,227	10,000	163,227	181,105
	---------	--------	---------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FLexercise WLHB

Company Limited by Guarantee

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Investments	17		120,822	162,251

Current assets

Debtors	18	7,663	–
Cash at bank and in hand		36,948	22,908
		--------	--------
		44,611	22,908

Creditors: amounts falling due within one year	19	2,207		4,055
		--------		--------
Net current assets			42,404	18,853
			---------	---------
Total assets less current liabilities			163,226	181,104
			---------	---------
Net assets			163,226	181,104
			---------	---------

Funds of the charity

Restricted funds		10,000	–
Unrestricted funds		153,227	181,105
		---------	---------
Total charity funds	20	163,227	181,105
		---------	---------

For the year ending 31 March 2026 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 15 July 2026 , and are signed on behalf of the board by:

S Floyd	I Milne (Chair)
Trustee	Trustee

FLexercise WLHB

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o Richard Place Dobson, Chartered Accountants, 1-7 Station Road, Crawley, RH10 1HT, West Sussex.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements consist of the level of income relating to the year, but not yet received to be shown in the accounts.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

Incoming resources

Income All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacy income are received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material.

Resources expended

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

- Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.

- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

- All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and Fittings	-	20% straight line

4. Limited by guarantee

The charity is a company limited by guarantee and has no share capital. The liability of each association member in the event of winding up is limited to £10.

5. Donations and legacies

Unrestricted Funds	Restricted Funds	Total Funds 2026
£	£	£

Donations

	Membership fees	2,244	–	2,244

Legacies

	Legacies	17,319	10,000	27,319

Other donations and legacies

Other donations	1,875	–	1,875
	--------	--------	--------
	21,438	10,000	31,438
	--------	--------	--------

Unrestricted Funds	Restricted Funds	Total Funds 2025
£	£	£

Donations

	Membership fees	5,042	–	5,042

Legacies

	Legacies	–	–	–

Other donations and legacies

Other donations	3,878	–	3,878
	-------	----	-------
	8,920	–	8,920
	-------	----	-------

6. Other trading activities

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Fundraising activities	20,945	20,945	4,875	4,875
	--------	--------	-------	-------

7. Investment income

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Income from other investments	4,316	4,316	5,296	5,296
Bank interest receivable	360	360	360	360
	-------	-------	-------	-------
	4,676	4,676	5,656	5,656
	-------	-------	-------	-------

8. Costs of other trading activities

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Fundraising and publicity costs	45,265	45,265	29,206	29,206
	--------	--------	--------	--------

9. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Training and education	9,598	9,598	28,661	28,661
Charitable operational costs	849	849	842	842
Support costs	7,796	7,797	7,533	7,534
	--------	--------	--------	--------
	18,243	18,244	37,036	37,037
	--------	--------	--------	--------

10. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2026	Total fund 2025
	£	£	£	£
Training and education	9,598	–	9,598	28,661
Charitable operational costs	849	–	849	842
Governance costs	–	7,797	7,797	7,534
	--------	-------	--------	--------
	10,447	7,797	18,244	37,037
	--------	-------	--------	--------

11. Net losses on investments

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Gains/(losses) on other investment assets	( 11,429)	( 11,429)	( 7,754)	( 7,754)
	--------	--------	-------	-------

12. Net expenditure

Net expenditure is stated after charging/(crediting):

	2026	2025
	£	£
Depreciation of tangible fixed assets	–	141
	----	----

13. Independent examination fees

	2026	2025
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	4,308	2,058
	-------	-------

14. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

15. Trustee remuneration and expenses

During the year none of the Trustees received remuneration for their services.

The Trustees received £nil (2025: £859) of reimbursed expenses in relation to travel and subsistence costs.

16. Tangible fixed assets

	Equipment	Total
	£	£
Cost
At 1 Apr 2025 and 31 Mar 2026	2,642	2,642
	-------	-------
Depreciation
At 1 Apr 2025 and 31 Mar 2026	2,642	2,642
	-------	-------
Carrying amount
At 31 Mar 2026	–	–
	-------	-------
At 31 Mar 2025	–	–
	-------	-------

17. Investments

	Other investments
	£
Cost or valuation
At 1 Apr 2025	162,251
Additions	–
Disposals	(30,000)
Fair value movements	(11,429)
	---------
At 31 Mar 2026	120,822
	---------
Carrying amount
At 31 Mar 2026	120,822
	---------
At 31 Mar 2025	162,251
	---------

All investments shown above are held at valuation.

18. Debtors

	2026	2025
	£	£
Other debtors	7,663	–
	-------	----

19. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	47	1,985
Accruals and deferred income	2,160	2,070
	-------	-------
	2,207	4,055
	-------	-------

Accruals and deferred income balance of £1,872 is made of £1,872 accrual for accounting and independent examination services.

20. Analysis of charitable funds

Unrestricted funds

	At 1 Apr 2025	Income	Expenditure	Gains and losses	At 31 Mar 2026
	£	£	£	£	£
General funds	181,105	47,059	(63,508)	(11,429)	153,227
	---------	--------	--------	--------	---------

	At 1 Apr 2024	Income	Expenditure	Gains and losses	At 31 Mar 2025
	£	£	£	£	£
General funds	235,650	19,451	(66,242)	(7,754)	181,105
	---------	--------	--------	-------	---------

Restricted funds

	At 1 Apr 2025	Income	Expenditure	Gains and losses	At 31 Mar 2026
	£	£	£	£	£
Pat Gravett Fund	–	10,000	–	–	10,000
	----	--------	----	----	--------

	At 1 Apr 2024	Income	Expenditure	Gains and losses	At 31 Mar 2025
	£	£	£	£	£
Pat Gravett Fund	–	–	–	–	–
	----	----	----	----	----

Restricted funds of the charity are for the following purposes

- Pat Gravatt Fund: training and development of teachers

21. Analysis of net assets between funds

	Unrestricted Funds	Restricted Funds	Total Funds 2026
	£	£	£
Investments	120,822	–	120,822
Current assets	34,611	10,000	44,611
Creditors less than 1 year	(2,207)	–	(2,207)
	---------	--------	---------
Net assets	153,226	10,000	163,226
	---------	--------	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2025
	£	£	£
Tangible fixed assets	–	–	–
Investments	162,251	–	162,251
Current assets	22,908	–	22,908
Creditors less than 1 year	(4,055)	–	(4,055)
	---------	----	---------
Net assets	181,104	–	181,104
	---------	----	---------