BOXING CLEVER MK CIC

Company limited by guarantee

Company Registration Number:
13933003 (England and Wales)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

BOXING CLEVER MK CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

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

BOXING CLEVER MK CIC

Directors' report period ended 29 February 2024

The directors present their report with the financial statements of the company for the period ended 29 February 2024

Principal activities of the company

The principal activity of the company during the year under review was the provision of sports and recreation education.



Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 29 February 2024

Claire Byrne
Kevin McCarthy


The director shown below has held office during the period of
1 April 2023 to 29 February 2024

Sadie Whiteland


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 March 2024

And signed on behalf of the board by:
Name: Claire Byrne
Status: Director

BOXING CLEVER MK CIC

Profit And Loss Account

for the Period Ended 29 February 2024

2024 2023


£

£
Turnover: 32,082 34,517
Cost of sales: ( 46,797 ) ( 15,222 )
Gross profit(or loss): (14,715) 19,295
Distribution costs: ( 48,461 ) ( 3,260 )
Administrative expenses: ( 45,529 ) ( 1,707 )
Other operating income: 109,411 0
Operating profit(or loss): 706 14,328
Profit(or loss) before tax: 706 14,328
Tax: ( 2,689 )
Profit(or loss) for the financial year: 706 11,639

BOXING CLEVER MK CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 3,355 0
Tangible assets: 4 6,158 135
Total fixed assets: 9,513 135
Current assets
Stocks: 5 695 0
Debtors: 6 210 1,800
Cash at bank and in hand: 100,483 21,002
Total current assets: 101,388 22,802
Creditors: amounts falling due within one year: 7 ( 98,556 ) ( 11,298 )
Net current assets (liabilities): 2,832 11,504
Total assets less current liabilities: 12,345 11,639
Total net assets (liabilities): 12,345 11,639
Members' funds
Profit and loss account: 12,345 11,639
Total members' funds: 12,345 11,639

The notes form part of these financial statements

BOXING CLEVER MK CIC

Balance sheet statements

For the year ending 29 February 2024 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 March 2024
and signed on behalf of the board by:

Name: Claire Byrne
Status: Director

The notes form part of these financial statements

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 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 measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied:The Company has transferred to the buyer the significant risks and rewards of ownership of the goods;The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;The amount of revenue can be measured reliably;It is probable that the economic benefits associated with the transaction will flow to the Company; andThe costs incurred or to be incurred in respect of the transaction can be measured reliably.Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of theimpairment loss.Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:Furniture, fittings andequipment25% Straight Line

    Intangible fixed assets amortisation policy

    Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 3

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 March 2023 0 0
Additions 3,660 3,660
Disposals
Revaluations
Transfers
At 29 February 2024 3,660 3,660
Amortisation
At 1 March 2023 0 0
Charge for year 305 305
On disposals
Other adjustments
At 29 February 2024 305 305
Net book value
At 29 February 2024 3,355 3,355
At 28 February 2023 0 0

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 143 143
Additions 6,678 6,678
Disposals
Revaluations
Transfers
At 29 February 2024 6,821 6,821
Depreciation
At 1 March 2023 8 8
Charge for year 655 655
On disposals
Other adjustments
At 29 February 2024 663 663
Net book value
At 29 February 2024 6,158 6,158
At 28 February 2023 135 135

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Stocks

2024 2023
£ £
Stocks 695 0
Total 695 0

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

6. Debtors

2024 2023
£ £
Trade debtors 210 1,800
Total 210 1,800

BOXING CLEVER MK CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 2,323 2,689
Accruals and deferred income 96,233 8,099
Other creditors 510
Total 98,556 11,298

COMMUNITY INTEREST ANNUAL REPORT

BOXING CLEVER MK CIC

Company Number: 13933003 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

The provision of sports and recreation education for the local community.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £46,484.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
8 March 2024

And signed on behalf of the board by:
Name: Claire Byrne
Status: Director