INNOV4TE CIC

Company limited by guarantee

Company Registration Number:
13229717 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

INNOV4TE 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

INNOV4TE 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

Principal activities of the company

Principal Activity of INNOV4TE CIC is to support young people at risk of exclusion from mainstream education; to support their mental health, increase resilience and transition them into educational settings that meet their needs. We support mainstream schools, other educational settings, local authorities and parents/carers.



Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 28 February 2024

Stacy Millington-Moss
Carla Astbury
Carlo Franco


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
28 October 2024

And signed on behalf of the board by:
Name: Stacy Millington-Moss
Status: Director

INNOV4TE CIC

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 181,425 91,757
Cost of sales: ( 68,700 ) ( 40,420 )
Gross profit(or loss): 112,725 51,337
Distribution costs: ( 123,365 ) ( 48,052 )
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): (10,640) 3,285
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (10,640) 3,285
Profit(or loss) for the financial year: (10,640) 3,285

INNOV4TE CIC

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 2,533
Investments:   0 0
Total fixed assets: 0 2,533
Current assets
Stocks:   0 0
Debtors: 4 67,900 34,833
Cash at bank and in hand: 3,447 14,087
Investments:   0 0
Total current assets: 71,347 48,920
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 66,000 ) ( 74,940 )
Net current assets (liabilities): 5,347 (26,020)
Total assets less current liabilities: 5,347 ( 23,487)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 5,347 (23,487)
Members' funds
Profit and loss account: 5,347 ( 23,487)
Total members' funds: 5,347 (23,487)

The notes form part of these financial statements

INNOV4TE 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 28 October 2024
and signed on behalf of the board by:

Name: Stacy Millington-Moss
Status: Director

The notes form part of these financial statements

INNOV4TE 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

INNOV4TE CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 1

INNOV4TE CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 0 0 0 2,533 0 2,533
Additions
Disposals ( 2,533 ) ( 2,533 )
Revaluations
Transfers
At 28 February 2024 0 0 0 0 0 0
Depreciation
At 1 March 2023
Charge for year
On disposals
Other adjustments
At 28 February 2024
Net book value
At 28 February 2024 0 0 0 0 0 0
At 28 February 2023 0 0 0 2,533 0 2,533

INNOV4TE CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 67,900 34,833
Total 67,900 34,833

INNOV4TE CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 66,000 74,940
Total 66,000 74,940

COMMUNITY INTEREST ANNUAL REPORT

INNOV4TE CIC

Company Number: 13229717 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

INNOV4TE CIC has continued to build and strengthen it's partnership with stakeholders in the local community. We have supported over 50 young people to access alternative education, reintegrating them back into mainstream education or supporting them to access specialist settings. We have worked with local secondary schools to support children on a 1-1 basis through mentoring as well as group mentoring. We have supported children through sport, art and outdoor education as well as a more traditional academic approach. Children report increased resilience and self esteem. Parents/carers report reduced issues at home and in the local community. A number of learners have identified positive post 16 options.

Consultation with stakeholders

Consultation is continuous through face to face conversations, evaluations, review meetings and consultations online. We consult with Local Education Authority Children's Services Police Youth Services Community Groups Health Organisations

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £68,700.00. 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
28 October 2024

And signed on behalf of the board by:
Name: Stacy Millington-Moss
Status: Director