OSPREY OUTDOORS C.I.C

Company limited by guarantee

Company Registration Number:
06742547 (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

OSPREY OUTDOORS C.I.C

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

OSPREY OUTDOORS C.I.C

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,600 8,800
Total fixed assets: 6,600 8,800
Current assets
Cash at bank and in hand: 21,634 13,892
Total current assets: 21,634 13,892
Creditors: amounts falling due within one year: 4 ( 25,610 ) ( 31,068 )
Net current assets (liabilities): (3,976) (17,176)
Total assets less current liabilities: 2,624 ( 8,376)
Total net assets (liabilities): 2,624 (8,376)
Members' funds
Profit and loss account: 2,624 ( 8,376)
Total members' funds: 2,624 (8,376)

The notes form part of these financial statements

OSPREY OUTDOORS C.I.C

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

Name: Wendy Watkins
Status: Director

The notes form part of these financial statements

OSPREY OUTDOORS C.I.C

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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

    Other accounting policies

    Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

OSPREY OUTDOORS C.I.C

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 12 9

    All employees are part time

OSPREY OUTDOORS C.I.C

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 3,200 12,712 15,912
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 3,200 12,712 15,912
Depreciation
At 1 May 2023 2,941 4,171 7,112
Charge for year 65 2,135 2,200
On disposals
Other adjustments
At 30 April 2024 3,006 6,306 9,312
Net book value
At 30 April 2024 194 6,406 6,600
At 30 April 2023 259 8,541 8,800

OSPREY OUTDOORS C.I.C

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 2
Trade creditors 375
Other creditors 25,235 31,066
Total 25,610 31,068

OSPREY OUTDOORS C.I.C

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Financial Commitments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

COMMUNITY INTEREST ANNUAL REPORT

OSPREY OUTDOORS C.I.C

Company Number: 06742547 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

The company has organised and run outdoor educational activities that focus on team building, confidence building and self esteem building for many community groups including family groups, school groups, mental health service users, drug and alcohol rehabilitation groups, school holiday groups, isolated family groups and children's activities groups. This has benefitted individuals in the community and community groups. It has also organised social activities that enhance the local environment, including care and maintenance of plants and structures, and education on trees and open spaces.

Consultation with stakeholders

Stakeholders are the leaders of the local community groups, members of the council, primary care trusts, teachers and extended schools coordinators, who have been asked what outdoor educational needs their groups have and if they have confidence building and team building needs. The action taken whenever possible is to set up activities that respond to these needs whenever there is financial means. Thus a diverse range of activities have taken place, tailored to the needs of each group.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £58,199.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 January 2025

And signed on behalf of the board by:
Name: Wendy Watkins
Status: Director