THE SABSA INSTITUTE C.I.C.

Company limited by guarantee

Company Registration Number:
08439587 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

THE SABSA INSTITUTE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE SABSA INSTITUTE C.I.C.

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 37,901 51,301
Cash at bank and in hand: 147,995 139,429
Total current assets: 185,896 190,730
Creditors: amounts falling due within one year: 4 ( 81,639 ) ( 103,202 )
Net current assets (liabilities): 104,257 87,528
Total assets less current liabilities: 104,257 87,528
Total net assets (liabilities): 104,257 87,528
Members' funds
Profit and loss account: 104,257 87,528
Total members' funds: 104,257 87,528

The notes form part of these financial statements

THE SABSA INSTITUTE C.I.C.

Balance sheet statements

For the year ending 31 May 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 28 February 2025
and signed on behalf of the board by:

Name: David Lynas
Status: Director

The notes form part of these financial statements

THE SABSA INSTITUTE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 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.

    Other accounting policies

    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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 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. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Judgements and key sources of estimation uncertainty In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Members' liability The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

THE SABSA INSTITUTE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 10 10

THE SABSA INSTITUTE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Debtors

2024 2023
£ £
Trade debtors 37,901 46,694
Other debtors 0 4,607
Total 37,901 51,301

THE SABSA INSTITUTE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 34,426 46,915
Taxation and social security 5,025 14,971
Accruals and deferred income 3,700 1,740
Other creditors 38,488 39,576
Total 81,639 103,202

COMMUNITY INTEREST ANNUAL REPORT

THE SABSA INSTITUTE C.I.C.

Company Number: 08439587 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

Ongoing development, publication, promotion and world-wide adoption of SABSA Security Architecture methodology, framework, and certification, improving standards of protection and cyber assurance delivered by members to their employers and nations. Specifically: Professional Certification at Foundation, Practitioner & Masters levels, Professional training and education, Webinars, Publication of professional papers and guides, SABSA intellectual property project member collaboration, Creation of Members’ advisory and steering committee.

Consultation with stakeholders

Quarterly meetings of Board representatives. Quarterly governance meetings. Quarterly meetings of Advisory committee Annual World Congress Member forums and permanent collaboration channel. Local meetings. Online virtual meetings

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
28 February 2025

And signed on behalf of the board by:
Name: David Lynas
Status: Director