GM SCHOOL CIC

Company Registration Number:
12697808 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

GM SCHOOL CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

GM SCHOOL CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Directors

The director shown below has held office during the whole of the period from
1 July 2023 to 30 June 2024

MICHAEL HARDY


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
4 November 2024

And signed on behalf of the board by:
Name: MICHAEL HARDY
Status: Director

GM SCHOOL CIC

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 13,179 7,205
Cost of sales: ( 476 ) ( 290 )
Gross profit(or loss): 12,703 6,915
Administrative expenses: ( 5,829 ) ( 4,716 )
Operating profit(or loss): 6,874 2,199
Interest payable and similar charges: ( 19 ) ( 3 )
Profit(or loss) before tax: 6,855 2,196
Profit(or loss) for the financial year: 6,855 2,196

GM SCHOOL CIC

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 3,879 1,784
Cash at bank and in hand: 139 385
Total current assets: 4,018 2,169
Creditors: amounts falling due within one year: 4 ( 3,993 ) ( 2,146 )
Net current assets (liabilities): 25 23
Total assets less current liabilities: 25 23
Total net assets (liabilities): 25 23
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 23 21
Total Shareholders' funds: 25 23

The notes form part of these financial statements

GM SCHOOL CIC

Balance sheet statements

For the year ending 30 June 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 4 November 2024
and signed on behalf of the board by:

Name: MICHAEL HARDY
Status: Director

The notes form part of these financial statements

GM SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 30 June 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes

GM SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

GM SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Debtors

2024 2023
£ £
Other debtors 3,879 1,784
Total 3,879 1,784

GM SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 2,400 553
Other creditors 1,593 1,593
Total 3,993 2,146

GM SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Loans to directors

Name of director receiving advance or credit: MICHAEL HARDY
Description of the transaction:
Advance
£
Balance at 30 June 2023 1,334
Advances or credits made: 1,566
Advances or credits repaid:
Balance at 30 June 2024 2,900

COMMUNITY INTEREST ANNUAL REPORT

GM SCHOOL CIC

Company Number: 12697808 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

Groovestar Music School CIC is dedicated to nurturing musical education and creativity within our community. Throughout the financial year, we have provided a diverse range of music-related activities and services aimed at enriching the lives of individuals of all ages and backgrounds. Our activities encompass a wide spectrum, including group music lessons, individual instrument instruction, workshops, and community performances. We believe in the transformative power of music and strive to make it accessible to everyone, regardless of their socio-economic status. Our impact on the community has been significant. Through our programmes, we have witnessed firsthand the positive effects of music on mental health, social cohesion, and personal development. Many of our students have reported increased confidence, improved academic performance, and a greater sense of belonging as a result of their participation in our programmes. Furthermore, we are proud to have contributed to the cultural vibrancy of our community by organising concerts, recitals, and other musical events that bring people together and celebrate local talent. In summary, Groovestar Music School CIC remains committed to using the power of music to inspire, educate, and uplift our community, and we look forward to continuing our mission in the years to come.

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
4 November 2024

And signed on behalf of the board by:
Name: MICHAEL HARDY
Status: Director