SIMPACT C.I.C.

Company Registration Number:
09428054 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SIMPACT C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SIMPACT C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activity of the company is to offer accessible, high quality, business development and programme management consultancy support to help charities and SMEs across the UK to secure contracts and grants. We then re-invest the majority of our profits into running social inclusion programmes for marginalised young people; specifically those struggling to engage with mainstream education.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Mr Mark Shields
Miss Janet Chandler
Mr Rikki Garcia


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 August 2024

And signed on behalf of the board by:
Name: Mr Mark Shields
Status: Director

SIMPACT C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 347 773
Investments:   0 0
Total fixed assets: 347 773
Current assets
Stocks:   0 0
Debtors: 4 23,156 59,054
Cash at bank and in hand: 72,747 47,207
Investments:   0 0
Total current assets: 95,903 106,261
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 27,517 ) ( 33,318 )
Net current assets (liabilities): 68,386 72,943
Total assets less current liabilities: 68,733 73,716
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 ( 147 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 68,733 73,569
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 68,723 73,559
Total Shareholders' funds: 68,733 73,569

The notes form part of these financial statements

SIMPACT C.I.C.

Balance sheet statements

For the year ending 31 March 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.

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 29 August 2024
and signed on behalf of the board by:

Name: Mr Mark Shields
Status: Director

The notes form part of these financial statements

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

    Intangible fixed assets amortisation policy

    Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Web site - 25% straight line

    Other accounting policies

    Basis of preparation - These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Going concern - The financial statements have been prepared on a going concern basis. Tax - The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Tangible assets - Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation - Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Office equipment - 25% straight line Cash and cash equivalents - Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade debtors - Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade creditors - Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Share capital - Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 4,027 4,027
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 4,027 4,027
Depreciation
At 1 April 2023 3,254 3,254
Charge for year 426 426
On disposals
Other adjustments
At 31 March 2024 3,680 3,680
Net book value
At 31 March 2024 347 347
At 31 March 2023 773 773

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 12,150 21,600
Prepayments and accrued income 8,327 35,564
Other debtors 2,679 1,890
Total 23,156 59,054
Debtors due after more than one year: 0 0

SIMPACT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 20,587 18,790
Accruals and deferred income 3,767 12,532
Other creditors 3,163 1,996
Total 27,517 33,318

COMMUNITY INTEREST ANNUAL REPORT

SIMPACT C.I.C.

Company Number: 09428054 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

We offer accessible, high quality, strategy development, transformation and business development consultancy support to help charities and social enterprises across the UK. We then re-invest the majority of our profits to help marginalised young people with care experience, through the delivery of innovative education and employability programmes. Our two key aims are: 1. To increase the aspirations and attainment of disengaged young people, by delivering exceptional educational engagement and employability programmes; and 2. To provide high quality and accessible strategy, business development and transformation consultancy services, to help charities, and social enterprises grow and develop capability; enabling them to deliver their social inclusion programmes to more people who benefit from them. In 2023/24, we focused our social activity on pro-bono consultancy work and delivering ongoing employability and in-work support to our young people, to ensure their continued success in employment beyond Simpact. Education & Employability Programmes Through 2023-24, we continued to deliver our Levelling the Playing Field Programme, focusing on supporting our candidates to secure places in full-time education, to set-up their own businesses and in-work support. - We coached and mentored 2 young people with care experience, working with them fortnightly whilst they were in work and latterly one of which is now in full-time education. - We supported one candidate to secure a place at university. - We supported one candidate to set-up their own business, working to support architectural firms with their online marketing. - We delivered 1-2-1 sessions with the candidates on: setting up a business, financial literacy, workplace behaviours, non-negotiables in a work environment and dealing with conflict in a work environment. Helping charities grow. Our primary focus across both our divisions is exemplary customer service and offering a tangible return on investment; whether that be a financial or social return. We have secured over £16m of contracts and grants for our charity clients in 2023/24 and during this period worked with 12 charities and social enterprises nationally. We have also worked with charities to re-work the operating model of some of their core services, including with Age UK (national) and the Stroke Association. We also provided 10 days pro-bono support for charities across the period, equivalent to £6,500 if billed on a commercial basis. Our overall impact across our education and consultancy activity has been: - Secured over £16m of funding for charities and social enterprises. - Supported 2 young people with care experience to improve their employability skills, as described above.

Consultation with stakeholders

Drive Forward Foundation (Meetings) Discussions informing our ongoing support for care experienced young people. EarlyBird (Meetings) Advice on understanding how young people we work with can access online (digital modes of delivery) employability, skills + in-work support. Age UK (locals) (Meetings) Advice on understanding the challenges facing developing charities and types of support needed, specifically regarding local commissioning. Mind (locals) (Meetings) Advice on understanding challenges facing charities in their commercial development and local influencing work.

Directors' remuneration

The director (Mark Shields) received remuneration in the year as follows: 2024 - £85,500 (2023 - £104,900). During the year the company paid consultancy fees to Janet Chandler and Rikki Garcia (directors during the year): Janet Chandler received £34,742 for services and £124 for reimbursement of expenses (2023 - £26,831 for services and £1,060 for reimbursement of expenses). Rikki Garcia received £38,831 for services and £559 for reimbursement of expenses (2023 - £63,889 for services and £978 for reimbursement of expenses).

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
2 September 2024

And signed on behalf of the board by:
Name: Mark Shields
Status: Director