SOMI ACADEMY CIC

Company limited by guarantee

Company Registration Number:
12976684 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

SOMI ACADEMY CIC

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SOMI ACADEMY CIC

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,637 214
Total fixed assets: 1,637 214
Current assets
Debtors: 4 17,968 9,553
Cash at bank and in hand: 11,518 6,667
Total current assets: 29,486 16,220
Creditors: amounts falling due within one year: 5 ( 33,135 ) ( 16,575 )
Net current assets (liabilities): (3,649) (355)
Total assets less current liabilities: (2,012) ( 141)
Total net assets (liabilities): (2,012) (141)
Members' funds
Profit and loss account: (2,012) ( 141)
Total members' funds: ( 2,012) (141)

The notes form part of these financial statements

SOMI ACADEMY 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.

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 3 January 2025
and signed on behalf of the board by:

Name: James Alexander Turner
Status: Director

The notes form part of these financial statements

SOMI ACADEMY 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.

    Other accounting policies

    Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

SOMI ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

SOMI ACADEMY 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 £ £ £ £ £ £
At 1 May 2023 272 272
Additions 1,499 1,499
Disposals
Revaluations
Transfers
At 30 April 2024 1,771 1,771
Depreciation
At 1 May 2023 58 58
Charge for year 76 76
On disposals
Other adjustments
At 30 April 2024 134 134
Net book value
At 30 April 2024 1,637 1,637
At 30 April 2023 214 214

SOMI ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

2024 2023
£ £
Trade debtors 11,313 8,436
Other debtors 6,655 1,117
Total 17,968 9,553

SOMI ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,599 323
Other creditors 31,536 16,252
Total 33,135 16,575

COMMUNITY INTEREST ANNUAL REPORT

SOMI ACADEMY CIC

Company Number: 12976684 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

The company is a non-for-profit education provider currently serving LIPA Primary School in Liverpool. The company specialises in music and performing arts education for children. Its mission is to create long term, sustainable social change through music and the performing arts. The company provides children in the community with opportunities to explore and develop their self-expression, creativity, critical thinking, performance skills and cultural understanding, boosting their self-esteem and self-confidence from an early age. It supports the full educational spectrum from EYFS, through primary, secondary, FE & HE, to family-based & intergenerational projects in the wider 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
3 January 2025

And signed on behalf of the board by:
Name: James Alexander Turner
Status: Director