SIMBA SPORTS WITHOUT BOUNDARIES CIC

Company limited by guarantee

Company Registration Number:
13528753 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2022

Period of accounts

Start date: 23 July 2021

End date: 31 July 2022

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Contents of the Financial Statements

for the Period Ended 31 July 2022

Directors report
Balance sheet
Additional notes
Community Interest Report

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Directors' report period ended 31 July 2022

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

Principal activities of the company

The principal activity of the company continued to be that of providing advisory services for the sporting community.



Directors

The director shown below has held office during the whole of the period from
23 July 2021 to 31 July 2022

Simba Donald Mlambo


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
23 October 2023

And signed on behalf of the board by:
Name: Simba Donald Mlambo
Status: Director

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Balance sheet

As at 31 July 2022

Notes 2022


£
Members' funds
Profit and loss account: 0
Total members' funds: 0

The notes form part of these financial statements

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Balance sheet statements

For the year ending 31 July 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 23 October 2023
and signed on behalf of the board by:

Name: Simba Donald Mlambo
Status: Director

The notes form part of these financial statements

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

    Other accounting policies

    Company information:Simba Sports Without Boundaries CIC is a private company limited by guarantee incorporated in England and Wales. The registered office is 8 The Link, Laxfield, Woodbridge, Suffolk, IP13 8DY.Accounting convention:These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.Profit and loss account:The company has not traded during the period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.Cash and cash equivalents:Cash and cash equivalents are basic financial assets and 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.Financial instruments:The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Basic financial assets:Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.Classification of financial liabilities:Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Basic financial liabilities:Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.Employee benefits:The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.Judgements and key sources of estimation uncertainty:In the application of the company’s accounting policies, the director is 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.Members' liability:The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2022

  • 2. Employees

    2022
    Average number of employees during the period 1

COMMUNITY INTEREST ANNUAL REPORT

SIMBA SPORTS WITHOUT BOUNDARIES CIC

Company Number: 13528753 (England and Wales)

Year Ending: 31 July 2022

Company activities and impact

The company did not operate during the period ended 31 July 2022, however activities commenced following the year end.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 October 2023

And signed on behalf of the board by:
Name: Simba Donald Mlambo
Status: Director