HORIZON CHEERLEADING CIC

Company limited by guarantee

Company Registration Number:
14799188 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 13 April 2023

End date: 30 April 2024

HORIZON CHEERLEADING CIC

Contents of the Financial Statements

for the Period Ended 30 April 2024

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

HORIZON CHEERLEADING CIC

Directors' report period ended 30 April 2024

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

Principal activities of the company

The principal activity of the company during the period under review was that of cheerleading coaching



Directors

The directors shown below have held office during the whole of the period from
13 April 2023 to 30 April 2024

E Harrison-McGrady
Alixandra Sales


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
14 November 2024

And signed on behalf of the board by:
Name: E Harrison-McGrady
Status: Director

HORIZON CHEERLEADING CIC

Profit And Loss Account

for the Period Ended 30 April 2024

13 months to 30 April 2024


£
Turnover: 40,733
Cost of sales: ( 20,080 )
Gross profit(or loss): 20,653
Distribution costs: ( 258 )
Administrative expenses: ( 20,109 )
Other operating income: 9,726
Operating profit(or loss): 10,012
Profit(or loss) before tax: 10,012
Profit(or loss) for the financial year: 10,012

HORIZON CHEERLEADING CIC

Balance sheet

As at 30 April 2024

Notes 13 months to 30 April 2024


£
Fixed assets
Tangible assets: 3 2,836
Total fixed assets: 2,836
Current assets
Debtors: 4 12,104
Cash at bank and in hand: 10,544
Total current assets: 22,648
Creditors: amounts falling due within one year: 5 ( 15,472 )
Net current assets (liabilities): 7,176
Total assets less current liabilities: 10,012
Total net assets (liabilities): 10,012
Members' funds
Profit and loss account: 10,012
Total members' funds: 10,012

The notes form part of these financial statements

HORIZON CHEERLEADING CIC

Balance sheet statements

For the year ending 30 April 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 14 November 2024
and signed on behalf of the board by:

Name: E Harrison-McGrady
Status: Director

The notes form part of these financial statements

HORIZON CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 30 April 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied The Company has transferred to the buyer the significant risks and rewards of ownership of the goods; The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; The amount of revenue can be measured reliably; It is probable that the economic benefits associated with the transaction will flow to the Company; and The costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 20%Reducing balance

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Provisions Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be madeofthe amount of the obligation. Provisions are charged as an expense to the income and expenditure account in the year that th Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

HORIZON CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    13 months to 30 April 2024
    Average number of employees during the period 4

HORIZON CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 3,545 3,545
Disposals
Revaluations
Transfers
At 30 April 2024 3,545 3,545
Depreciation
Charge for year 709 709
On disposals
Other adjustments
At 30 April 2024 709 709
Net book value
At 30 April 2024 2,836 2,836

HORIZON CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

13 months to 30 April 2024
£
Prepayments and accrued income 12,104
Total 12,104

HORIZON CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

13 months to 30 April 2024
£
Trade creditors 277
Accruals and deferred income 12,585
Other creditors 2,610
Total 15,472

COMMUNITY INTEREST ANNUAL REPORT

HORIZON CHEERLEADING CIC

Company Number: 14799188 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

The organisation benefits the community by making cheerleading more accessible to the local community. Cheerleading is known to be an expensive sport; therefore, we offer recreational sessions at a lower price point. This is to ensure that people can still experience the sport without competition and travel costs. We also offer competitive sessions where athletes get opportunities to travel nationally and internationally. We were lucky enough to achieve a bid to the World Championships in Florida 2025. All our athletes are nurtured through their cheerleading career by our high quality, experienced coaches. It was our aim to help athletes gain important life skills whilst training with us, to produce confident and responsible young people.

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
7 January 2025

And signed on behalf of the board by:
Name: Erin McGrady
Status: Director