SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Company limited by guarantee

Company Registration Number:
SC609969 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Balance sheet

As at 31 December 2023

Notes 2023 14 months to 31 December 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 3,584 5,607
Investments:   0 0
Total fixed assets: 3,584 5,607
Current assets
Stocks:   0 0
Debtors: 4 18,817 0
Cash at bank and in hand: 184,661 212,578
Investments:   0 0
Total current assets: 203,478 212,578
Net current assets (liabilities): 203,478 212,578
Total assets less current liabilities: 207,062 218,185
Accruals and deferred income: ( 109,003 ) ( 105,080 )
Total net assets (liabilities): 98,059 113,105
Members' funds
Profit and loss account: 98,059 113,105
Total members' funds: 98,059 113,105

The notes form part of these financial statements

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Balance sheet statements

For the year ending 31 December 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 28 April 2024
and signed on behalf of the board by:

Name: Stephen Sweeney
Status: Director

The notes form part of these financial statements

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 14 months to 31 December 2022
    Average number of employees during the period 2 2

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 8,412 8,412
Additions 3,845 3,845
Disposals
Revaluations
Transfers
At 31 December 2023 12,257 12,257
Depreciation
At 1 January 2023 2,805 2,805
Charge for year 5,868 5,868
On disposals
Other adjustments
At 31 December 2023 8,673 8,673
Net book value
At 31 December 2023 3,584 3,584
At 31 December 2022 5,607 5,607

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 14 months to 31 December 2022
£ £
Trade debtors 18,817 0
Total 18,817 0

COMMUNITY INTEREST ANNUAL REPORT

SCOTTISH LEAGUE OF CREDIT UNIONS CIC

Company Number: SC609969 (Scotland)

Year Ending: 31 December 2023

Company activities and impact

The core purpose of the Scottish League of Credit Unions CIC is to help our member Credit Unions become and remain Compliant, Sustainable and Cooperative. Our strength is in supporting Credit Unions at whatever stage of development is deemed appropriate by the members of each Credit Union. We recognise and respect the different needs and aspirations of individual Credit Unions and we do not seek to impose any particular model or developmental path. We do this by focussing on our six “key pillars” – Guidance, Education, Networking, Representation, Facilitation and Promotion. Our ongoing objectives for the year were to improve internal governance for SLCU, improve governance standards in our member Credit Unions, improve our engagement with those Credit Unions, increase the service delivery capacity of the SLCU and improve our own treasury management. With the assistance of donations from our member Credit Unions and legacies from former members, we developed collaboration strands including “The Portal”, “The SLCU APP”, a Payroll Relations Toolkit and marketing and promotions activities. We have delivered a number of training and developments sessions for our members including on the use of AI, on anti-money laundering, on Office 365 and we run a forum for Credit Union managers

Consultation with stakeholders

Our primary stakeholders are our member Credit Unions. Our main consultation with them is our Annual General Meeting held on 30th April 2023.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 April 2024

And signed on behalf of the board by:
Name: Stephen Sweeney
Status: Director