OLYMPIA WELLBEING ACADEMY CIC

Company limited by guarantee

Company Registration Number:
11816816 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

OLYMPIA WELLBEING ACADEMY CIC

Contents of the Financial Statements

for the Period Ended 28 February 2024

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

OLYMPIA WELLBEING ACADEMY CIC

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Principal activities of the company

The company worked with young and vulnerable adults, providing health education and physical education related activities.



Directors

The director shown below has held office during the whole of the period from
1 March 2023 to 28 February 2024

TREVOR CHROUCH


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
18 February 2025

And signed on behalf of the board by:
Name: TREVOR CHROUCH
Status: Director

OLYMPIA WELLBEING ACADEMY CIC

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 63,145 24,470
Cost of sales: ( 21,970 ) ( 7,185 )
Gross profit(or loss): 41,175 17,285
Distribution costs: ( 370 )
Administrative expenses: ( 29,745 ) ( 29,539 )
Operating profit(or loss): 11,060 (12,254)
Profit(or loss) before tax: 11,060 (12,254)
Profit(or loss) for the financial year: 11,060 (12,254)

OLYMPIA WELLBEING ACADEMY CIC

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 722 850
Total fixed assets: 722 850
Current assets
Debtors: 4 49,560 49,560
Cash at bank and in hand: 8,107 4,573
Total current assets: 57,667 54,133
Creditors: amounts falling due within one year: 5 ( 6,124 ) ( 10,327 )
Net current assets (liabilities): 51,543 43,806
Total assets less current liabilities: 52,265 44,656
Creditors: amounts falling due after more than one year: 6 ( 43,463 ) ( 46,914 )
Total net assets (liabilities): 8,802 (2,258)
Members' funds
Profit and loss account: 8,802 ( 2,258)
Total members' funds: 8,802 (2,258)

The notes form part of these financial statements

OLYMPIA WELLBEING ACADEMY CIC

Balance sheet statements

For the year ending 28 February 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 18 February 2025
and signed on behalf of the board by:

Name: TREVOR CHROUCH
Status: Director

The notes form part of these financial statements

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and Machinery 15 Reducing Balance

    Other accounting policies

    Government grants Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 1,000 1,000
Additions
Disposals
Revaluations
Transfers
At 28 February 2024 1,000 1,000
Depreciation
At 1 March 2023 150 150
Charge for year 128 128
On disposals
Other adjustments
At 28 February 2024 278 278
Net book value
At 28 February 2024 722 722
At 28 February 2023 850 850

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
£ £
Other debtors 49,560 49,560
Total 49,560 49,560

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 3,420 2,520
Other creditors 2,704 7,807
Total 6,124 10,327

OLYMPIA WELLBEING ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 43,463 46,914
Total 43,463 46,914

COMMUNITY INTEREST ANNUAL REPORT

OLYMPIA WELLBEING ACADEMY CIC

Company Number: 11816816 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

The company worked with young and vulnerable adults, providing health education and physical education related activities.

Consultation with stakeholders

The directors are the only stakeholders, No consultation has taken place.

Directors' remuneration

The only related party transactions were those highlighted in the accounts. Please see note 9 ‘Related parties’.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
18 February 2025

And signed on behalf of the board by:
Name: TREVOR CHROUCH
Status: Director