SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Company Registration Number:
SC544394 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activity of the company is that of the provision of educational services.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Neil McLean
Paul Chowdhry
Yvonne Strachan
Nicholas Moon


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
29 January 2025

And signed on behalf of the board by:
Name: Neil McLean
Status: Director

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 0 335,610
Cost of sales: ( 63,765 )
Gross profit(or loss): 0 271,845
Administrative expenses: ( 228,976 )
Operating profit(or loss): 0 42,869
Interest receivable and similar income: 16
Profit(or loss) before tax: 0 42,885
Profit(or loss) for the financial year: 0 42,885

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 0 45,761
Tangible assets: 4 0 246
Investments:   0 0
Total fixed assets: 0 46,007
Current assets
Stocks:   0 0
Debtors: 5 0 48,902
Cash at bank and in hand: 13,987 238,357
Total current assets: 13,987 287,259
Creditors: amounts falling due within one year: 6 ( 13,987 ) ( 266,174 )
Net current assets (liabilities): 0 21,085
Total assets less current liabilities: 0 67,092
Total net assets (liabilities): 0 67,092
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (100 ) 66,992
Total Shareholders' funds: 0 67,092

The notes form part of these financial statements

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Balance sheet statements

For the year ending 31 March 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 29 January 2025
and signed on behalf of the board by:

Name: Neil McLean
Status: Director

The notes form part of these financial statements

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Equipment 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Intangible fixed assets amortisation policy

    Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Learning Management System 20% straight line Branding 20% straight line

    Valuation information and policy

    At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    Company information Social Enterprise Academy International C.I.C. is a private company limited by shares incorporated in Scotland. The registered office is Thorn House, 5 Rose Street, Edinburgh, EH2 2PR Accounting convention These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern On 1 April 2023 the company ceased to trade. For that reason, the directors do not believe the going concern basis remains appropriate. The directors have therefore prepared the financial statements on a basis other than going concern. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2023 61,294 61,294
Additions
Disposals ( 61,294 ) ( 61,294 )
Revaluations
Transfers
At 31 March 2024 0 0
Amortisation
At 1 April 2023 15,533 15,533
Charge for year
On disposals ( 15,533 ) ( 15,533 )
Other adjustments
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 45,761 45,761

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 989 989
Additions
Disposals ( 989 ) ( 989 )
Revaluations
Transfers
At 31 March 2024 0 0
Depreciation
At 1 April 2023 743 743
Charge for year
On disposals ( 743 ) ( 743 )
Other adjustments
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 246 246

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 0 39,027
Other debtors 0 9,875
Total 0 48,902

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 0 15,907
Accruals and deferred income 2,824
Other creditors 13,987 247,443
Total 13,987 266,174

COMMUNITY INTEREST ANNUAL REPORT

SOCIAL ENTERPRISE ACADEMY INTERNATIONAL C.I.C.

Company Number: SC544394 (Scotland)

Year Ending: 31 March 2024

Company activities and impact

The company ceased trading during the year however the work was continued by the Parent Charity, Social Enterprise Academy (Scotland)

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
29 January 2025

And signed on behalf of the board by:
Name: Neil McLean
Status: Director