GENERATION EDINBURGH CIC

Company limited by guarantee

Company Registration Number:
SC421759 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

GENERATION EDINBURGH CIC

Contents of the Financial Statements

for the Period Ended 30 April 2023

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

GENERATION EDINBURGH CIC

Directors' report period ended 30 April 2023

The directors present their report with the financial statements of the company for the period ended 30 April 2023

Directors

The director shown below has held office during the whole of the period from
1 May 2022 to 30 April 2023

Miriam Whitehouse


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
29 November 2023

And signed on behalf of the board by:
Name: Miriam Whitehouse
Status: Director

GENERATION EDINBURGH CIC

Profit And Loss Account

for the Period Ended 30 April 2023

2023 2022


£

£
Turnover: 41,284 31,212
Cost of sales: ( 2,454 ) ( 225 )
Gross profit(or loss): 38,830 30,987
Distribution costs: 0 0
Administrative expenses: ( 35,619 ) ( 30,496 )
Other operating income: 0 0
Operating profit(or loss): 3,211 491
Interest receivable and similar income: 5 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 3,216 491
Tax: ( 611 ) ( 22 )
Profit(or loss) for the financial year: 2,605 469

GENERATION EDINBURGH CIC

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 673 1,346
Investments:   0 0
Total fixed assets: 673 1,346
Current assets
Stocks:   0 0
Debtors: 4 0 22
Cash at bank and in hand: 7,263 1,793
Investments:   0 0
Total current assets: 7,263 1,815
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 2,578 ) ( 536 )
Net current assets (liabilities): 4,685 1,279
Total assets less current liabilities: 5,358 2,625
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 128 ) 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 5,230 2,625
Members' funds
Profit and loss account: 5,230 2,625
Total members' funds: 5,230 2,625

The notes form part of these financial statements

GENERATION EDINBURGH CIC

Balance sheet statements

For the year ending 30 April 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.

This report was approved by the board of directors on 29 November 2023
and signed on behalf of the board by:

Name: Miriam Whitehouse
Status: Director

The notes form part of these financial statements

GENERATION EDINBURGH CIC

Notes to the Financial Statements

for the Period Ended 30 April 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

    TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Plant & Machinery 33% Straight LineComputer Equipment 33% Straight Line

GENERATION EDINBURGH CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 3

GENERATION EDINBURGH CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2022 2,245 130 2,375
Additions
Disposals
Revaluations
Transfers
At 30 April 2023 2,245 130 2,375
Depreciation
At 1 May 2022 899 130 1,029
Charge for year 673 673
On disposals
Other adjustments
At 30 April 2023 1,572 130 1,702
Net book value
At 30 April 2023 673 0 673
At 30 April 2022 1,346 0 1,346

GENERATION EDINBURGH CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Debtors

2023 2022
£ £
Other debtors 0 22
Total 0 22

GENERATION EDINBURGH CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 594
Accruals and deferred income 500 500
Other creditors 1,484 36
Total 2,578 536

COMMUNITY INTEREST ANNUAL REPORT

GENERATION EDINBURGH CIC

Company Number: SC421759 (Scotland)

Year Ending: 30 April 2023

Company activities and impact

1) We ran a number of bake sales to raise funds for a new portable dance floor that would cover over the carpeted area of the venue we are hiring from. This created more space and made it easier for families who needed to come in during class. We donated the floor to the church so it can be used by many members of the community and not just ourselves2) Our school show took place in Dec 22 and we used this opportunity to raise funds for a children’s cancer charity. It was a great success and we had a team of volunteers to who worked together to help provide free baked goods and hot drinks to all the families and friends who came to watch the show. We also organised a bake sale and Christmas stall event to help towards the expenses of the show and reduce ticket prices to help families who were struggling financially.3) Our pupils were involved in a local Gala performance as part of a big community event.4) GE was involved in supporting church events and choreographing dance pieces for pupils.5) GE still continues to provide support and training to teachers in NZ and Oz.

Consultation with stakeholders

Stakeholders are local community members, churches, schools, other connecting small business and charities. Generation Edinburgh has mostly been active in the North of Edinburgh and Ormiston (East Lothian), an area that is the most lacking in dance/ fitness tuition in comparison with other regions in the city. We are finding the market for what we offer of huge value due to its unique ethos, but also providing pupils with an opportunity to getinvolved where there were no opportunities beforehand.

Directors' remuneration

The director’s remuneration for the year was £11,060.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Miriam Whitehouse
Status: Director