TYNESIDE IGNITE CHEERLEADING CIC

Company limited by guarantee

Company Registration Number:
12487950 (England and Wales)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

TYNESIDE IGNITE CHEERLEADING CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

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

TYNESIDE IGNITE CHEERLEADING CIC

Directors' report period ended 29 February 2024

The directors present their report with the financial statements of the company for the period ended 29 February 2024

Directors

The director shown below has held office during the whole of the period from
1 March 2023 to 29 February 2024

Joanne Lawton


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
12 May 2024

And signed on behalf of the board by:
Name: Joanne Lawton
Status: Director

TYNESIDE IGNITE CHEERLEADING CIC

Profit And Loss Account

for the Period Ended 29 February 2024

2024 2023


£

£
Turnover: 141,204 84,726
Cost of sales: ( 60,043 ) ( 30,908 )
Gross profit(or loss): 81,161 53,818
Distribution costs: 0 0
Administrative expenses: ( 82,477 ) ( 53,530 )
Operating profit(or loss): (1,316) 288
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (1,316) 288
Tax: 0 0
Profit(or loss) for the financial year: (1,316) 288

TYNESIDE IGNITE CHEERLEADING CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,963 2,081
Investments:   0 0
Total fixed assets: 1,963 2,081
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 8,269 5,708
Investments:   0 0
Total current assets: 8,269 5,708
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 10,771 ) ( 7,012 )
Net current assets (liabilities): (2,502) (1,304)
Total assets less current liabilities: (539) 777
Total net assets (liabilities): (539) 777
Members' funds
Profit and loss account: (539) 777
Total members' funds: ( 539) 777

The notes form part of these financial statements

TYNESIDE IGNITE CHEERLEADING CIC

Balance sheet statements

For the year ending 29 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 5 December 2024
and signed on behalf of the board by:

Name: Joanne Lawton
Status: Director

The notes form part of these financial statements

TYNESIDE IGNITE CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 29 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 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

    Other accounting policies

    Sale of goods 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 the delivery of the goods. Rendering of services 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.

TYNESIDE IGNITE CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 9 9

TYNESIDE IGNITE CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 3,468 0 3,468
Additions 668 668
Disposals
Revaluations
Transfers
At 29 February 2024 3,468 668 4,136
Depreciation
At 1 March 2023 1,387 0 1,387
Charge for year 694 92 786
On disposals
Other adjustments
At 29 February 2024 2,081 92 2,173
Net book value
At 29 February 2024 1,387 576 1,963
At 28 February 2023 2,081 0 2,081

TYNESIDE IGNITE CHEERLEADING CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 902 566
Accruals and deferred income 960 744
Other creditors 8,909 5,702
Total 10,771 7,012

COMMUNITY INTEREST ANNUAL REPORT

TYNESIDE IGNITE CHEERLEADING CIC

Company Number: 12487950 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

Tyneside Ignite offer sports and activity classes to the local community at a recreation and competition level for girls aged 4+. Tyneside Ignite have funded some athletes attendance to cheerleading classes and competitions to support low income families, as well as competition uniform for some familiar that could not afford them. We have also went international in this financial year with some girls going to Barcelona. We have continued to fundraise for these activities.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

12200

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 May 2024

And signed on behalf of the board by:
Name: Joanne Lawton
Status: Director