BRITISH GYMNASTICS FOUNDATION
Latest income
£366k
Latest spending
£406k
Registered
2014
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £84,516 for the year, resulting in unrestricted reserves falling to £30,406. This figure is significantly below the trustees' stated policy target of £125,000. The trustees consider the charity a going concern primarily due to a £150,000 donation received from Gymnastics Enterprises Ltd post-year-end.
What the accounts disclose
Employees paid over £60,000: 2
“The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 No. In the band £60,001 - £70,000 1 In the band £70,001 - £80,000 1” — page 43
Per its FY2024 accounts as filed with the Charity Commission.
Reserves position: below the charity's own stated reserves policy
“As at 31st March 2024, the Charity’s unrestricted reserves total £30,406, (2023: £114,888) which represents the free reserves. The approved budget for the year ending 31st March 2025 records unrestricted reserves of £33,906, which is £91,094 below the target of £125,000.”
Per its FY2024 accounts as filed with the Charity Commission.
Going concern: noted by the trustees or auditor
“Gymnastics Enterprises Ltd has indicated its intention to pay a £150,000 donation to British Gymnastics Foundation to cover the 12 months to 31 March 2025. The Trustees are of the view that this donation secures the immediate future of the charity for the next 12 months and that on this basis the assessment of the trustees is that the charity is a going concern.” — page 23
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Grant from Gymnastics Enterprises Ltd
“Under a grant agreement signed in 2021, Gymnastics Enterprises Ltd (a wholly-owned subsidiary of British Gymnastics) confirmed its intension to make a grant of £75,000 to the charity for the year to 31 March 2024. During the year ended 31 March 2024, the Charity received £75,000 in respect of this grant.” — page 51
“Under a MOU and secondment agreement signed in 2021, British Gymnastics agreed to provide various services to the Charity in return for a management fee. These services include the provision of seconded staff. During the year ended 31 March 2024, British Gymnastics charged a management fee of £322,041.” — page 51
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Management fee from British Gymnastics
“Under a grant agreement signed in 2021, Gymnastics Enterprises Ltd (a wholly-owned subsidiary of British Gymnastics) confirmed its intension to make a grant of £75,000 to the charity for the year to 31 March 2024. During the year ended 31 March 2024, the Charity received £75,000 in respect of this grant.” — page 51
“Under a MOU and secondment agreement signed in 2021, British Gymnastics agreed to provide various services to the Charity in return for a management fee. These services include the provision of seconded staff. During the year ended 31 March 2024, British Gymnastics charged a management fee of £322,041.” — page 51
Per its FY2024 accounts as filed with the Charity Commission.
Year-over-year changes
- Employees paid over £60,000: 0 (FY2023) → 2 (FY2024).
- Going concern: no going-concern doubt (FY2023) → going-concern doubt noted (FY2024).
Trustees
- Alexander Colin Laybournechair
- Andrew Kenneth Dodd
- Anthony Burns Langenegger
- Chisara Nwabara
- Daniel Thomas Booth
- Esther Jane Ashman
- Gary Tolometti
- Jessica Cook
- Louise Fawcett
- Sarah Boissel-Marshall
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £366k | £406k |
| 31/03/2024 | £293k | £378k |
| 31/03/2023 | £373k | £445k |
| 31/03/2022 | £312k | £422k |
| 31/03/2021 | £392k | £337k |
Common questions
Is BRITISH GYMNASTICS FOUNDATION financially healthy?
The accounts state that the charity reported a net expenditure of £84,516 for the year, resulting in unrestricted reserves falling to £30,406. This figure is significantly below the trustees' stated policy target of £125,000. The trustees consider the charity a going concern primarily due to a £150,000 donation received from Gymnastics Enterprises Ltd post-year-end. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE SCHRODER FOUNDATION | 1 | £80k |
| THE FRANCES AND AUGUSTUS NEWMAN FOUNDATION | 1 | £75k |
| THE SYLVIA AND COLIN SHEPHERD CHARITABLE TRUST | 1 | £20k |
| SIR SAMUEL SCOTT OF YEWS TRUST | 1 | £20k |
| The Schroder 1905 Trust | 1 | £10k |
| THE TRUE COLOURS TRUST | 1 | £10k |
| THE ANNANDALE CHARITABLE TRUST | 1 | £5k |
| PILKINGTON CHARITIES FUND | 1 | £5k |