REGISTERED NUMBER: 04454506 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Academy of Gymnastics Club Limited

(A company limited by guarantee)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs E C Kincaid

J R Kincaid

SECRETARY:

Mrs E C Kincaid

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

04454506 (England and Wales)

ACCOUNTANTS:

Dunkley's

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

73,133

61,450

CURRENT ASSETS

Debtors

5

10,054

9,343

Cash at bank

56,109

34,627

66,163

43,970

CREDITORS

Amounts falling due within one year

6

106,304

75,214

NET CURRENT LIABILITIES

(40,141

)

(31,244

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,992

30,206

PROVISIONS FOR LIABILITIES

-

1,649

NET ASSETS

32,992

28,557

RESERVES

Income and expenditure account

7

32,992

28,557

32,992

28,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 March 2018 and were signed on its behalf by:

Mrs E C Kincaid - Director

1.	STATUTORY INFORMATION

Academy of Gymnastics Club Limited is a private company, limited by guarantee , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 June 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 July 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Grant income

Grant income is recognised in the profit and loss account in the same period as the related expenditure. Grant

income relating to the purchase of fixed assets will be recognised over the life of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

19,002

85,696

10,531

16,127

131,356

Additions

-

27,928

666

2,457

31,051

At 30 June 2017

19,002

113,624

11,197

18,584

162,407

DEPRECIATION

At 1 July 2016

17,118

32,662

8,036

12,090

69,906

Charge for year

377

16,193

633

2,165

19,368

At 30 June 2017

17,495

48,855

8,669

14,255

89,274

NET BOOK VALUE

At 30 June 2017

1,507

64,769

2,528

4,329

73,133

At 30 June 2016

1,884

53,034

2,495

4,037

61,450

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Prepayments

10,054

9,343

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

16,355

1,155

Amounts owed to group undertakings

42,526

19,777

Tax

-

112

Accrued expenses

4,912

4,592

Deferred government grants

42,511

49,578

106,304

75,214

7.

RESERVES

Income

and

expenditure

account

£

At 1 July 2016

28,557

Surplus for the year

4,435

At 30 June 2017

32,992