CORNWALL SARACENS BASKETBALL CIC

Company limited by guarantee

Company Registration Number:
14915636 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 5 June 2023

End date: 30 June 2024

CORNWALL SARACENS BASKETBALL CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

CORNWALL SARACENS BASKETBALL CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The company's principal activity during the year was sports and recreation education.



Directors

The directors shown below have held office during the whole of the period from
5 June 2023 to 30 June 2024

Andrew Cummins
Richard Gilling


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
5 March 2025

And signed on behalf of the board by:
Name: Andrew Cummins
Status: Director

CORNWALL SARACENS BASKETBALL CIC

Profit And Loss Account

for the Period Ended 30 June 2024

13 months to 30 June 2024


£
Turnover: 37,010
Cost of sales: ( 35,028 )
Gross profit(or loss): 1,982
Administrative expenses: ( 1,703 )
Operating profit(or loss): 279
Profit(or loss) before tax: 279
Profit(or loss) for the financial year: 279

CORNWALL SARACENS BASKETBALL CIC

Balance sheet

As at 30 June 2024

Notes 13 months to 30 June 2024


£
Fixed assets
Tangible assets: 3 3,231
Total fixed assets: 3,231
Current assets
Cash at bank and in hand: 18,623
Total current assets: 18,623
Creditors: amounts falling due within one year: 4 ( 21,575 )
Net current assets (liabilities): (2,952)
Total assets less current liabilities: 279
Total net assets (liabilities): 279
Members' funds
Profit and loss account: 279
Total members' funds: 279

The notes form part of these financial statements

CORNWALL SARACENS BASKETBALL CIC

Balance sheet statements

For the year ending 30 June 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 March 2025
and signed on behalf of the board by:

Name: Andrew Cummins
Status: Director

The notes form part of these financial statements

CORNWALL SARACENS BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 30 June 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant & Machinery: 10% reducing balance

    Other accounting policies

    Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

CORNWALL SARACENS BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    13 months to 30 June 2024
    Average number of employees during the period 2

CORNWALL SARACENS BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 3,590 3,590
Disposals
Revaluations
Transfers
At 30 June 2024 3,590 3,590
Depreciation
Charge for year 359 359
On disposals
Other adjustments
At 30 June 2024 359 359
Net book value
At 30 June 2024 3,231 3,231

CORNWALL SARACENS BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

13 months to 30 June 2024
£
Other creditors 21,575
Total 21,575

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

COMMUNITY INTEREST ANNUAL REPORT

CORNWALL SARACENS BASKETBALL CIC

Company Number: 14915636 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

The club ran a number of youth teams (U16 and U18) that were entered into the Basketball England National League.The league involves participating in games across the South West. All players involved are based throughout Cornwall. The club set up a number of community clubs throughout Cornwall. These sessions were for youngsters aged between 6-16 to get involved in fun based sporting activity. many of the sessions were located in deprived areas such as Pool, Penryn, Redruth, St Austell and Penzance. Off the back of these sessions the club ran a 6 week summer league based in Newquay - All community groups were invited to play and were officiated by older players within the league. The club ran a girls only basketball club based in Newquay. Players were aged between 8 and 14. The overall ethos of the club is to increase the amount of basketball provision throughout Cornwall for youngsters between 6-19 year olds. This involves recreational basketball activities as well as elite performance sessions.

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
5 March 2025

And signed on behalf of the board by:
Name: Andrew Cummins
Status: Director