WO SPORTS CIC

Company limited by guarantee

Company Registration Number:
09604668 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

WO SPORTS CIC

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WO SPORTS CIC

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

The principal activity of the company continued to be that of sports and recreational-related activities.



Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

Olawale Ojelabi
Kacper Rutkowski


Secretary Michelle Mina

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 September 2023

And signed on behalf of the board by:
Name: Olawale Ojelabi
Status: Director

WO SPORTS CIC

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 157,839 133,574
Cost of sales: ( 48,573 ) ( 45,531 )
Gross profit(or loss): 109,266 88,043
Administrative expenses: ( 119,398 ) ( 97,048 )
Other operating income: 9,380
Operating profit(or loss): (10,132) 375
Interest payable and similar charges: ( 491 ) ( 673 )
Profit(or loss) before tax: (10,623) (298)
Profit(or loss) for the financial year: (10,623) (298)

WO SPORTS CIC

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 537 670
Total fixed assets: 537 670
Current assets
Debtors: 4 82,899 53,280
Cash at bank and in hand: 11,185 10,122
Total current assets: 94,084 63,402
Creditors: amounts falling due within one year: 5 ( 56,951 ) ( 6,986 )
Net current assets (liabilities): 37,133 56,416
Total assets less current liabilities: 37,670 57,086
Creditors: amounts falling due after more than one year: 6 ( 25,986 ) ( 34,779 )
Total net assets (liabilities): 11,684 22,307
Members' funds
Profit and loss account: 11,684 22,307
Total members' funds: 11,684 22,307

The notes form part of these financial statements

WO SPORTS CIC

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption 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.

This report was approved by the board of directors on 30 September 2023
and signed on behalf of the board by:

Name: Olawale Ojelabi
Status: Director

The notes form part of these financial statements

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Fixtures & fittings 20 Reducing balance

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 14 14

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 2,047 2,047
Additions
Disposals
Revaluations
Transfers
At 31 December 2022 2,047 2,047
Depreciation
At 1 January 2022 1,377 1,377
Charge for year 133 133
On disposals
Other adjustments
At 31 December 2022 1,510 1,510
Net book value
At 31 December 2022 537 537
At 31 December 2021 670 670

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Debtors

2022 2021
£ £
Other debtors 82,899 53,280
Total 82,899 53,280

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 1,515 2,725
Trade creditors 507
Taxation and social security 4,094 2,839
Accruals and deferred income 500
Other creditors 50,842 915
Total 56,951 6,986

WO SPORTS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Bank loans and overdrafts 25,986 34,779
Total 25,986 34,779

COMMUNITY INTEREST ANNUAL REPORT

WO SPORTS CIC

Company Number: 09604668 (England and Wales)

Year Ending: 31 December 2022

Company activities and impact

WO SPORTS CIC HAS BEEN WORKING WITH THE LOCAL COMMUNITY AND SCHOOLS. OUR ACTIVITIES INCLUDE, TRAINING AND RECOMMENDED DIETS TO HELP PROMOTE GOOD HEALTH WITH THE AIM OF STRENGTHENING THE BODY AND MIND.WE HAVE ALSO SUCCESFULLY ORGANISED AND HELD HOLIDAY SOCCER SCHOOL SESSIONS.

Consultation with stakeholders

WE HAVE HELD NUMEROUS MEETINGS WITH THE DIFFERENT STAKEHOLDERS AND PARTNERS REGARDING FUNDING REQUIREMENTS FOR THE FUTURE AND HELD VARIOUS YOUTH FORUMS WITH YOUNG PEOPLE.

Directors' remuneration

TOTAL REMUNERATION OF £26,475 HAS BEEN PAID TO ONE DIRECTOR DURING THE YEAR.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 September 2023

And signed on behalf of the board by:
Name: Mr Olawale Ojelabi
Status: Director