YOUNG TECHNICIANS CIC

Company limited by guarantee

Company Registration Number:
10861049 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

YOUNG TECHNICIANS CIC

Contents of the Financial Statements

for the Period Ended 31 July 2023

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

YOUNG TECHNICIANS CIC

Directors' report period ended 31 July 2023

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

Principal activities of the company

Educational activities



Directors

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

Giuseppe Soccio
Harrison Fuller
Louise Chilvers
Mark Harrison
Antonietta Campanaro
Alison Freeman


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
8 February 2024

And signed on behalf of the board by:
Name: Giuseppe Soccio
Status: Director

YOUNG TECHNICIANS CIC

Profit And Loss Account

for the Period Ended 31 July 2023

2023 2022


£

£
Turnover: 384,969 311,542
Cost of sales: ( 85,870 ) ( 46,221 )
Gross profit(or loss): 299,099 265,321
Administrative expenses: ( 306,960 ) ( 230,913 )
Other operating income: 9,875
Operating profit(or loss): (7,861) 44,283
Interest receivable and similar income: 10 8
Profit(or loss) before tax: (7,851) 44,291
Tax: ( 2 ) ( 1 )
Profit(or loss) for the financial year: (7,853) 44,290

YOUNG TECHNICIANS CIC

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 64,478 68,482
Total fixed assets: 64,478 68,482
Current assets
Debtors: 4 3,313 1,514
Cash at bank and in hand: 22,107 31,467
Total current assets: 25,420 32,981
Creditors: amounts falling due within one year: 5 ( 3 ) ( 19,937 )
Net current assets (liabilities): 25,417 13,044
Total assets less current liabilities: 89,895 81,526
Creditors: amounts falling due after more than one year: 6 ( 27,332 ) ( 11,110 )
Total net assets (liabilities): 62,563 70,416
Members' funds
Profit and loss account: 62,563 70,416
Total members' funds: 62,563 70,416

The notes form part of these financial statements

YOUNG TECHNICIANS CIC

Balance sheet statements

For the year ending 31 July 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 8 February 2024
and signed on behalf of the board by:

Name: Giuseppe Soccio
Status: Director

The notes form part of these financial statements

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

    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:Plant & machinery20% reducing balanceMotor vehicles20% reducing balance

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 15 13

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 90,674 2,800 93,474
Additions 12,216 12,216
Disposals
Revaluations
Transfers
At 31 July 2023 102,890 2,800 105,690
Depreciation
At 1 August 2022 24,432 560 24,992
Charge for year 15,772 448 16,220
On disposals
Other adjustments
At 31 July 2023 40,204 1,008 41,212
Net book value
At 31 July 2023 62,686 1,792 64,478
At 31 July 2022 66,242 2,240 68,482

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Debtors

2023 2022
£ £
Other debtors 3,313 1,514
Total 3,313 1,514

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 1,936
Taxation and social security 3 1
Accruals and deferred income 18,000
Total 3 19,937

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

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

2023 2022
£ £
Bank loans and overdrafts 27,332 11,110
Total 27,332 11,110

YOUNG TECHNICIANS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

7. Loans to directors

Name of director receiving advance or credit: Giuseppe Soccio
Description of the transaction:
Director loan
£
Balance at 31 July 2022
Advances or credits made: 7,132
Advances or credits repaid: 4,000
Balance at 31 July 2023 3,132

COMMUNITY INTEREST ANNUAL REPORT

YOUNG TECHNICIANS CIC

Company Number: 10861049 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

The CIC continued to grow revenue over the financial year . We have continued to provide support to our students and partners and following the opening up of schools following the COVID outbreaks we are expanding our services to the schools. We have opened up as an Alternative Education Provider to a number of Local Authorities. The CIC has once again used this time period to expand the business further by gaining more contacts and is once again looking in a better position than the previous year. It is our intention to grow into an Academy in our own right with our very own building to deliver sessions which are more inclusive to any student across the county.

Consultation with stakeholders

The stakeholders are the parents, schools and students. We provide consultation via regular emails and newsletters

Directors' remuneration

The Directors remuneration is listed within the accounts.The Director also charges the CIC £40,000 for the hire of equipment that he owns.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
8 February 2024

And signed on behalf of the board by:
Name: Giuseppe Soccio
Status: Director