PENYBRYN OUTDOOR LEARNING CIC

Company limited by guarantee

Company Registration Number:
14354261 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 13 September 2022

End date: 28 February 2024

PENYBRYN OUTDOOR LEARNING CIC

Contents of the Financial Statements

for the Period Ended 28 February 2024

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

PENYBRYN OUTDOOR LEARNING CIC

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Directors

The directors shown below have held office during the whole of the period from
13 September 2022 to 28 February 2024

Samuel Lee Jordan
Christopher Bruce McClellan


The director shown below has held office during the period of
13 September 2022 to 26 November 2023

Robert John Slater


Secretary Rachael Cassandra Clare Hobbs

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
12 September 2024

And signed on behalf of the board by:
Name: Samuel Lee Jordan
Status: Director

PENYBRYN OUTDOOR LEARNING CIC

Profit And Loss Account

for the Period Ended 28 February 2024

18 months to 28 February 2024


£
Turnover: 75
Cost of sales: 0
Gross profit(or loss): 75
Distribution costs: 0
Administrative expenses: ( 16,694 )
Other operating income: 17,495
Operating profit(or loss): 876
Profit(or loss) before tax: 876
Tax: ( 166 )
Profit(or loss) for the financial year: 710

PENYBRYN OUTDOOR LEARNING CIC

Balance sheet

As at 28 February 2024

Notes 18 months to 28 February 2024


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 901
Investments:   0
Total current assets: 901
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 3 ( 191 )
Net current assets (liabilities): 710
Total assets less current liabilities: 710
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 710
Members' funds
Profit and loss account: 710
Total members' funds: 710

The notes form part of these financial statements

PENYBRYN OUTDOOR LEARNING CIC

Balance sheet statements

For the year ending 28 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 12 September 2024
and signed on behalf of the board by:

Name: Samuel Lee Jordan
Status: Director

The notes form part of these financial statements

PENYBRYN OUTDOOR LEARNING CIC

Notes to the Financial Statements

for the Period Ended 28 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 for goods supplied, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Other accounting policies

    BASIS OF PREPARATION The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets. The financial statements are prepared in sterling, which is the functional currency of the company. CURRENT TAX Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. GOVERNMENT GRANTS Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. FINANCIAL INSTRUMENTS A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

PENYBRYN OUTDOOR LEARNING CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    18 months to 28 February 2024
    Average number of employees during the period 0

PENYBRYN OUTDOOR LEARNING CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Creditors: amounts falling due within one year note

18 months to 28 February 2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 166
Accruals and deferred income 0
Other creditors 25
Total 191

PENYBRYN OUTDOOR LEARNING CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Loans to directors

Name of director receiving advance or credit: Christopher Bruce McClellan
Description of the transaction:
Initial deposit to open bank account
£
Balance at
Advances or credits made: 25
Advances or credits repaid:
Balance at 28 February 2024 25

COMMUNITY INTEREST ANNUAL REPORT

PENYBRYN OUTDOOR LEARNING CIC

Company Number: 14354261 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. Pen Y Bryn Outdoor Learning CIC was fortunate to receive a start-up grant from the Welsh Government of £12.5k, which was spent on branding, business stationary, and an e-commerce website. The grant also enabled Pen Y Bryn Outdoor Learning CIC to achieve two key licences needed to trade – the AALS licence and the Duke of Edinburgh Award Licence ensuring our compliance with industry standards. We were also able to purchase insurance for the first two years of trading. Our team has undergone required training, with Chris McClellan completing First Aid and Development Coach certifications, and Samuel Jordan also completing First Aid training. We have secured a storage unit and acquired cupboards and shelving at no cost, enhancing our organisational capabilities with regards to the equipment needed for activities. As required by the grant, we have developed an environmental policy with support from WRM and are working towards Net Zero. We have begun to build our stakeholder map, registering with DEWIS, DVSC, and Youth Cymru. One of our key projects, Denbighshire Walks for those aged 50+, was commissioned by Denbighshire Country Council and supported with a £5k grant. This initiative involved delivering a series of 10 walks throughout the county in Spring 2023. The project was fully funded, covering delivery, promotion, and review of the walks. In addition, we have launched the Bethesda Adventure Club, led by Emily Ashton-Hughes, who later joined the team as a Director. During the Easter holidays, we organised two days of activities, attracting 15 young people who participated in climbing and weaselling, even on a very wet day. We have also provided climbing coaching for Hampton School, as part of an ongoing annual programme.

Consultation with stakeholders

In the first year, there was little consultation with stakeholders. Stakeholder mapping and consultation is a key action point for the next financial year.

Directors' remuneration

Christopher McClellan received £8,495 in wages and expenses for delivering instruction on outdoor pursuits and consultancy in relation to the acquisition of licences needed to operate. He did not receive wages for duties relating to being a Director. The remaining directors received no remuneration.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 June 2024

And signed on behalf of the board by:
Name: Samuel Lee Jordan
Status: Director