SUFFOLK PE & SPORT NETWORK CIC

Company limited by guarantee

Company Registration Number:
14663830 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 15 February 2023

End date: 31 July 2024

SUFFOLK PE & SPORT NETWORK CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Additional notes
Community Interest Report

SUFFOLK PE & SPORT NETWORK CIC

Balance sheet

As at 31 July 2024

Notes 18 months to 31 July 2024


£
Current assets
Cash at bank and in hand: 38,368
Total current assets: 38,368
Net current assets (liabilities): 38,368
Total assets less current liabilities: 38,368
Provision for liabilities: ( 3,658 )
Accruals and deferred income: ( 19,109 )
Total net assets (liabilities): 15,601
Members' funds
Profit and loss account: 15,601
Total members' funds: 15,601

The notes form part of these financial statements

SUFFOLK PE & SPORT NETWORK CIC

Balance sheet statements

For the year ending 31 July 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 13 November 2024
and signed on behalf of the board by:

Name: Ian Jackson
Status: Director

The notes form part of these financial statements

SUFFOLK PE & SPORT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 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.

    Other accounting policies

    Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). 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 current 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. 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 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.

SUFFOLK PE & SPORT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    18 months to 31 July 2024
    Average number of employees during the period 0

COMMUNITY INTEREST ANNUAL REPORT

SUFFOLK PE & SPORT NETWORK CIC

Company Number: 14663830 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

During the last year, the Suffolk PE & Sport Network (SPESN) has organised and delivered 43 inter school sports events and competitions at venues throughout Suffolk. This resulted in 7,312 young people aged 9 - 19 being given the opportunity to represent their school and excel in their chosen sport. In addition, four professional development workshops were held which were attended by 33 school staff members from 19 secondary schools. The benefit to the community of the stated activity has been more engaged young people who have a greater appreciation for the benefits of being physically active.

Consultation with stakeholders

Our stakeholders are primarily young people and PE teachers at secondary schools in Suffolk. Young people participating in our events are encouraged to provide feedback on their experience using a variety of methods. Teachers are consulted at events and in one of three meetings held at different venues in Suffolk, each on three occasions per year. Feedback from stakeholders has led to a number of minor changes to event formats designed to enhance participation.

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
13 November 2024

And signed on behalf of the board by:
Name: Ian Jackson
Status: Director