ACADEMY OF SUCCESS CIC

Company limited by guarantee

Company Registration Number:
13808074 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

ACADEMY OF SUCCESS CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

ACADEMY OF SUCCESS CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 17,701 14,928
Cost of sales: 0
Gross profit(or loss): 17,701 14,928
Distribution costs: 0 0
Administrative expenses: ( 12,036 ) ( 13,588 )
Other operating income: 0 0
Operating profit(or loss): 5,665 1,340
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 5,665 1,340
Tax: ( 1,076 ) ( 255 )
Profit(or loss) for the financial year: 4,589 1,085

ACADEMY OF SUCCESS CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 422 688
Investments:   0 0
Total fixed assets: 422 688
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 14,183 652
Investments:   0 0
Total current assets: 14,183 652
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 14,183 652
Total assets less current liabilities: 14,605 1,340
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 1,076 ) ( 255 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 13,529 1,085
Members' funds
Profit and loss account: 13,529 1,085
Total members' funds: 13,529 1,085

The notes form part of these financial statements

ACADEMY OF SUCCESS 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.

This report was approved by the board of directors on 23 October 2024
and signed on behalf of the board by:

Name: Dionne Ruddock
Status: Director

The notes form part of these financial statements

ACADEMY OF SUCCESS 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 Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the net receipts from the provision of coaching services excluding value added tax where appropriate.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rate in order to write off tangible asset over its estimated useful life. Computer Equipments - 33.33% on cost

    Other accounting policies

    Taxation: Taxation for the year comprises current tax. Tax is recognized in the Profit and Loss Account. It is recognized at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

ACADEMY OF SUCCESS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

ACADEMY OF SUCCESS 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 798 798
Additions 0 0
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 December 2023 798 798
Depreciation
At 1 January 2023 110 110
Charge for year 266 266
On disposals 0 0
Other adjustments 0 0
At 31 December 2023 376 376
Net book value
At 31 December 2023 422 422
At 31 December 2022 688 688

COMMUNITY INTEREST ANNUAL REPORT

ACADEMY OF SUCCESS CIC

Company Number: 13808074 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Academy of Success CIC has significantly benefited the community during the financial year through its various activities. Here are some key ways in which the company's initiatives have positively impacted the community: Provision of Educational Courses: The company has delivered over 40 accredited and non-accredited courses within local communities. These courses covered a wide range of subjects, providing valuable knowledge and skills to community members. This access to education can empower individuals, improve their employability, and enhance their overall quality of life. Accessibility to Training: By delivering these courses within local communities, Academy of Success CIC has made education more accessible to residents. This reduces barriers related to transportation and cost, ensuring that a more diverse group of individuals can participate in these programs. Impact on Individuals: Over 450 individuals have participated in the courses, indicating a substantial reach within the community. These individuals have had the opportunity to acquire new skills, further their education, and potentially improve their career prospects. Entrepreneurship: It's particularly noteworthy that as a result of these courses, 20 people have gone on to start their own businesses. This demonstrates the practical application of the knowledge and skills acquired through the Academy's programs. Supporting entrepreneurship can contribute to local economic development, job creation, and a more vibrant business community. Enhanced Confidence: Perhaps one of the most significant benefits is that 100% of the feedback received indicates a significant improvement in confidence among course attendees. This boost in confidence can have a ripple effect, positively impacting various aspects of individuals' lives, from their professional to personal interactions. Community Well-being: As more individuals gain confidence, skills, and opportunities, the overall well-being of the community is likely to improve. Empowered individuals can contribute positively to the social fabric, local businesses, and community initiatives. In summary, Academy of Success CIC's activities have not only delivered valuable education and skills to the community but have also fostered entrepreneurship and boosted confidence among participants. These contributions are essential in building a stronger, more self-reliant, and vibrant local community.

Consultation with stakeholders

No consultation with stakeholders

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
23 October 2024

And signed on behalf of the board by:
Name: Dionne Ruddock
Status: Director