SIMPACT C.I.C.

Company Registration Number:
09428054 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

SIMPACT C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SIMPACT C.I.C.

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The principle activity of the company is to offer accessible, high quality, business development and programme management consultancy support to help charities and SMEs across the UK to secure contracts and grants. We then re-invest the majority of our profits into running social inclusion programmes for marginalised young people; specifically those struggling to engage with mainstream education.



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

Mr Mark Shields
Miss Janet Chandler
Mr Rikki Garcia


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
21 August 2023

And signed on behalf of the board by:
Name: Mr Mark Shields
Status: Director

SIMPACT C.I.C.

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 773 1,200
Investments:   0 0
Total fixed assets: 773 1,200
Current assets
Stocks:   0 0
Debtors: 4 59,054 62,318
Cash at bank and in hand: 47,207 52,145
Investments:   0 0
Total current assets: 106,261 114,463
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 33,318 ) ( 37,539 )
Net current assets (liabilities): 72,943 76,924
Total assets less current liabilities: 73,716 78,124
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 147 ) ( 228 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 73,569 77,896
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 73,559 77,886
Total Shareholders' funds: 73,569 77,896

The notes form part of these financial statements

SIMPACT C.I.C.

Balance sheet statements

For the year ending 31 March 2023 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 21 August 2023
and signed on behalf of the board by:

Name: Mr Mark Shields
Status: Director

The notes form part of these financial statements

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision ofservices in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The company recognises revenue when:The amount of revenue can be reliably measured;it is probable that future economic benefits will flow to the entity;and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Depreciation:Depreciation is charged so as to write off the cost of assets, other than land and properties under construction overtheir estimated useful lives, as follows:Office Equipment - 25% straight line

    Intangible fixed assets amortisation policy

    Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:Web Site - 25% straight line

    Other accounting policies

    TaxThe tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by thereporting date in the countries where the company operates and generates taxable income.Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversalof deferred tax liabilities or other future taxable profits.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and thatare expected to apply to the reversal of the timing difference.Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readilyconvertible to a known amount of cash and are subject to an insignificant risk of change in value.Trade debtorsTrade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effectiveinterest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objectiveevidence that the company will not be able to collect all amounts due according to the original terms of the receivables.Trade creditorsTrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reportingperiod, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defersettlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effectiveinterest method.Share capitalOrdinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received orreceivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material,the initial measurement is on a present value basis.

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 2

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 4,027 4,027
Additions
Disposals
Revaluations
Transfers
At 31 March 2023 4,027 4,027
Depreciation
At 1 April 2022 2,827 2,827
Charge for year 427 427
On disposals
Other adjustments
At 31 March 2023 3,254 3,254
Net book value
At 31 March 2023 773 773
At 31 March 2022 1,200 1,200

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 21,600 53,262
Prepayments and accrued income 35,564 7,976
Other debtors 1,890 1,080
Total 59,054 62,318

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 0 13,289
Taxation and social security 0 1,643
Accruals and deferred income 12,532 569
Other creditors 20,786 22,038
Total 33,318 37,539

COMMUNITY INTEREST ANNUAL REPORT

SIMPACT C.I.C.

Company Number: 09428054 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

We offer accessible, high quality, strategy development, transformation and business development consultancy support to help charities and social enterprises across the UK. We then re-invest the majority of our profits to help marginalised young people with care experience, through the delivery of innovative education and employability programmes. Our two key aims are:1) to increase the aspirations and attainment of disengaged young people, by delivering exceptional educational engagement and employability programmes; and2) to provide high quality and accessible strategy, business development and transformation consultancy services, to help charities, and social enterprises grow and develop capability; enabling them to deliver their social inclusion programmes to more people who benefit from them.In 2022/23, we focused our social activity on pro-bono consultancy work and delivering ongoing employability and in-work support to our interns, to ensure their continued success in employment beyond Simpact.Education & Employability ProgrammesThrough 2022-23, we continued to deliver our Levelling the Playing Field Programme, focusing on supporting our candidates with in-work support. - We coached and mentored 2 young people with care experience, working with them fortnightly whilst they were in work. - We supported one candidate who fell out of employment post Simpact, back into work - We delivered 1-2-1 sessions with the candidates on: setting up a business, financial literacy, workplace behaviours, non-negotiables in a work environment and dealing with conflict in a work environment. Helping charities grow.Our primary focus across both our divisions is exemplary customer service and offering a tangible return on investment; whether that be a financial or social return. We have secured over £23m of contracts and grants for our charity clients in 2022/23 and during this period worked with 9 charities and social enterprises nationally.We also provided 12 days pro-bono support for charities across the period, equivalent to £7,800 if billed on a commercial basis. Our overall impact across our education and consultancy activity has been: - Secured over £23m of funding for charities and social enterprises. - Supported 2 young people with care experience to improve their employability skills, as described above.

Consultation with stakeholders

Drive Forward Foundation (Meetings)Partnership informing our ongoing support for care experienced young people.EarlyBird (Meetings)Advice on understanding how young people we work with can access online (digital modes of delivery) employability support.Age UK (locals) (Meetings)Advice on understanding the challenges facing developing charities and types of support needed.

Directors' remuneration

The director (Mark Shields) received remuneration in the year as follows:2023 - £104,900 (2022 (£64,312).During the year the company paid consultancy fees to Janet Chandler and Rikki Garcia (directors during the year):Janet Chandler received £26,831 for services and £1,060 for reimbursement of expenses (2022 - £38,681 for services and £113 for reimbursement of expenses).Rikki Garcia received £63,889 for services and £978 for reimbursement of expenses (2022 - £77,577 for services and £43 for reimbursement of expenses).

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
24 August 2023

And signed on behalf of the board by:
Name: Mark Shields
Status: Director