GY SPORTING ACADEMY CIC

Company limited by guarantee

Company Registration Number:
11925706 (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

GY SPORTING ACADEMY 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

GY SPORTING ACADEMY 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

Directors

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

Tracey Hudson
Emma Parrott


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
31 January 2025

And signed on behalf of the board by:
Name: Tracey Hudson
Status: Director

GY SPORTING ACADEMY CIC

Profit And Loss Account

for the Period Ended 30 April 2024

2024 2023


£

£
Turnover: 34,498 33,475
Cost of sales: ( 1,562 ) ( 8,101 )
Gross profit(or loss): 32,936 25,374
Administrative expenses: ( 36,781 ) ( 34,344 )
Other operating income: 16,388 16,388
Operating profit(or loss): 12,543 7,418
Profit(or loss) before tax: 12,543 7,418
Tax: ( 3,067 ) ( 1,231 )
Profit(or loss) for the financial year: 9,476 6,187

GY SPORTING ACADEMY CIC

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 36,494 40,092
Total fixed assets: 36,494 40,092
Current assets
Cash at bank and in hand: 3,409 1,968
Total current assets: 3,409 1,968
Creditors: amounts falling due within one year: 4 ( 25,954 ) ( 21,199 )
Net current assets (liabilities): (22,545) (19,231)
Total assets less current liabilities: 13,949 20,861
Accruals and deferred income: ( 2,726 ) ( 19,114 )
Total net assets (liabilities): 11,223 1,747
Members' funds
Profit and loss account: 11,223 1,747
Total members' funds: 11,223 1,747

The notes form part of these financial statements

GY SPORTING 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.

This report was approved by the board of directors on 31 January 2025
and signed on behalf of the board by:

Name: Tracey Hudson
Status: Director

The notes form part of these financial statements

GY SPORTING 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 on the following bases: Fixtures & Fittings 10% straight line

    Other accounting policies

    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for delivery of the goods. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Government grants are recognised in the profit and loss 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 profit and loss account over that period. Grants towards general activities of the entity over a specific period are recognised in the profit and loss 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 profit and loss account over the useful life of the asset concerned. All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

GY SPORTING 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 2 2

GY SPORTING 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 49,478 49,478
Additions 1,500 1,500
Disposals
Revaluations
Transfers
At 30 April 2024 50,978 50,978
Depreciation
At 1 May 2023 9,386 9,386
Charge for year 5,098 5,098
On disposals
Other adjustments
At 30 April 2024 14,484 14,484
Net book value
At 30 April 2024 36,494 36,494
At 30 April 2023 40,092 40,092

GY SPORTING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,899 0
Taxation and social security 3,067 1,231
Accruals and deferred income 19,288 19,218
Other creditors 1,700 750
Total 25,954 21,199

COMMUNITY INTEREST ANNUAL REPORT

GY SPORTING ACADEMY CIC

Company Number: 11925706 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

To supply a roller-skating venue to club, the club has a lot of vulnerable children involved in it and offers a safe place for these children.

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
31 January 2025

And signed on behalf of the board by:
Name: Tracey Hudson
Status: Director