AMBITIOUS LIVES CIC

Company limited by guarantee

Company Registration Number:
13938003 (England and Wales)

Unaudited statutory accounts for the year ended 27 February 2024

Period of accounts

Start date: 1 March 2023

End date: 27 February 2024

AMBITIOUS LIVES CIC

Contents of the Financial Statements

for the Period Ended 27 February 2024

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

AMBITIOUS LIVES CIC

Directors' report period ended 27 February 2024

The directors present their report with the financial statements of the company for the period ended 27 February 2024

Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 27 February 2024

Malachi Nunes
Omari Nunes
Sharlene Saunders
Siriah Farrell
Ayinde Gardiner


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
26 February 2025

And signed on behalf of the board by:
Name: Malachi Nunes
Status: Director

AMBITIOUS LIVES CIC

Profit And Loss Account

for the Period Ended 27 February 2024

2024 2023


£

£
Turnover: 59,670 5,936
Cost of sales: ( 276 )
Gross profit(or loss): 59,670 5,660
Distribution costs: 0 0
Administrative expenses: ( 37,275 ) ( 9,609 )
Other operating income: 0
Operating profit(or loss): 22,395 (3,949)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: 22,395 (3,949)
Tax: 0 0
Profit(or loss) for the financial year: 22,395 (3,949)

AMBITIOUS LIVES CIC

Balance sheet

As at 27 February 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 5,170 654
Investments:   0 0
Total fixed assets: 5,170 654
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 30,668 11,647
Investments:   0 0
Total current assets: 30,668 11,647
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 3,069 ) ( 9,742 )
Net current assets (liabilities): 27,599 1,905
Total assets less current liabilities: 32,769 2,559
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: ( 22,395 ) 0
Total net assets (liabilities): 10,374 2,559
Members' funds
Profit and loss account: 10,374 2,559
Total members' funds: 10,374 2,559

The notes form part of these financial statements

AMBITIOUS LIVES CIC

Balance sheet statements

For the year ending 27 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 27 February 2025
and signed on behalf of the board by:

Name: Malachi Nunes
Status: Director

The notes form part of these financial statements

AMBITIOUS LIVES CIC

Notes to the Financial Statements

for the Period Ended 27 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 is measured at the fair valve of the consideration received or receivable, net of discounts and value added taxes. Turnover included 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 of 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:

    Other accounting policies

    Basis of preparation of Financial Statements Turnover Sale of Goods Rendering of Services Tangible Fixed Assets and Depreciation

AMBITIOUS LIVES CIC

Notes to the Financial Statements

for the Period Ended 27 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 3

AMBITIOUS LIVES CIC

Notes to the Financial Statements

for the Period Ended 27 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 654 654
Additions 4,516 4,516
Disposals
Revaluations
Transfers
At 27 February 2024 5,170 5,170
Depreciation
At 1 March 2023
Charge for year
On disposals
Other adjustments
At 27 February 2024
Net book value
At 27 February 2024 5,170 5,170
At 28 February 2023 654 654

AMBITIOUS LIVES CIC

Notes to the Financial Statements

for the Period Ended 27 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 3,069 9,742
Accruals and deferred income 0
Total 3,069 9,742

AMBITIOUS LIVES CIC

Notes to the Financial Statements

for the Period Ended 27 February 2024

5. Off balance sheet arrangements

Please Note: Ambitious Lives would like to confirm: There is a surplus for the year consists of restricted grant funding allocated for ongoing projects. These funds are not freely available but will be fully utilized in the next financial year. Also, No Corporation Tax is due as the surplus represents restricted grant funding used for community-based projects. The unrestricted reserves of £10,374 represent retained funds from service income and prior unrestricted surpluses. These reserves are fully reinvested into the CIC’s operational activities and not subject to distribution.

COMMUNITY INTEREST ANNUAL REPORT

AMBITIOUS LIVES CIC

Company Number: 13938003 (England and Wales)

Year Ending: 27 February 2024

Company activities and impact

In the past financial year, Ambitious Lives has significantly benefited the Sandwell community through targeted interventions aimed at reducing youth violence and criminal exploitation. Our bespoke mentoring programs have engaged over 200 young individuals, particularly those at risk of school exclusion or gang involvement, providing them with positive role models and alternative pathways. Collaborations with local schools, police, and youth justice teams have strengthened community ties and enhanced public safety. Notably, our efforts have led to a measurable decrease in youth-related incidents in identified high-risk areas, contributing to a safer and more cohesive community environment. Additionally, feedback from participants and partners indicates improved school attendance and heightened aspirations among the youth we serve. These outcomes underscore our commitment to fostering positive change and empowering young people to realize their full potential.

Consultation with stakeholders

Ambitious Lives has conducted consultations with stakeholders over the past financial year. We engaged with local schools, police, youth justice teams, community organizations, and the young people we serve to gather feedback and assess the effectiveness of our programs. These consultations have been instrumental in shaping our interventions and ensuring they meet the needs of the community. The insights gained have led to program adjustments and strengthened partnerships, enhancing our impact on reducing youth violence and criminal exploitation in Sandwell.

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
13 February 2025

And signed on behalf of the board by:
Name: Malachi Nunes
Status: Director