TECWOMEN CIC

Company limited by guarantee

Company Registration Number:
14171539 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

TECWOMEN CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

TECWOMEN CIC

Profit And Loss Account

for the Period Ended 30 June 2024

2024 13 months to 30 June 2023


£

£
Turnover: 189,569 74,482
Cost of sales: ( 108,515 ) ( 20,195 )
Gross profit(or loss): 81,054 54,287
Distribution costs: 0 0
Administrative expenses: ( 144,487 ) ( 51,945 )
Other operating income: 23,734 8,755
Operating profit(or loss): (39,699) 11,097
Interest payable and similar charges: ( 30 ) ( 86 )
Profit(or loss) before tax: (39,729) 11,011
Tax: ( 1,772 )
Profit(or loss) for the financial year: (39,729) 9,239

TECWOMEN CIC

Balance sheet

As at 30 June 2024

Notes 2024 13 months to 30 June 2023


£

£
Fixed assets
Tangible assets: 3 2,175 1,392
Total fixed assets: 2,175 1,392
Current assets
Cash at bank and in hand: 20,102 60,976
Total current assets: 20,102 60,976
Prepayments and accrued income: 254 217
Creditors: amounts falling due within one year: 4 ( 2,299 ) 0
Net current assets (liabilities): 18,057 61,193
Total assets less current liabilities: 20,232 62,585
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 ( 6,913 )
Accruals and deferred income: ( 54,167 ) ( 50,000 )
Total net assets (liabilities): (33,935) 5,672
Members' funds
Profit and loss account: (33,935) 5,672
Total members' funds: ( 33,935) 5,672

The notes form part of these financial statements

TECWOMEN 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 4 March 2025
and signed on behalf of the board by:

Name: Caitlin Gould
Status: Director

The notes form part of these financial statements

TECWOMEN 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 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 on the following bases: Plant & Machinery 20% reducing basis Fixtures & Fittings 20% reducing basis Computer Equipment 20% reducing basis

    Other accounting policies

    2. Accounting Policies 2.1. Basis of Preparation of Financial Statements The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 2.2. Turnover 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. 2.3. Tangible Fixed Assets and Depreciation 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 on the following bases: Plant & Machinery Fixtures & Fittings Computer Equipment 2.4. Stocks and Work in Progress 20% reducing basis 20% reducing basis 20% reducing basis Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. 2.5. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

TECWOMEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 13 months to 30 June 2023
    Average number of employees during the period 5 2

TECWOMEN 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 £ £ £ £ £ £
At 1 July 2023 2,196 2,196
Additions 1,234 1,234
Disposals ( 88 ) ( 88 )
Revaluations
Transfers
At 30 June 2024 3,342 3,342
Depreciation
At 1 July 2023 804 804
Charge for year 363 363
On disposals
Other adjustments
At 30 June 2024 1,167 1,167
Net book value
At 30 June 2024 2,175 2,175
At 30 June 2023 1,392 1,392

TECWOMEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

2024 13 months to 30 June 2023
£ £
Trade creditors 2,299
Other creditors 0 0
Total 2,299 0

COMMUNITY INTEREST ANNUAL REPORT

TECWOMEN CIC

Company Number: 14171539 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

For 2023-2024, we set ourselves the goal of expanding our audience reach beyond younger girls and to develop new programmes to help improve inclusivity in the Cornish TEC scene. It's been a busy year of experimentation, learning and continuous improvement and we are so proud of the impact we have achieved as we have moved into working more closely with secondary school age girls and with women looking to join the tech sector. Of the many new programmes we launched, the one that we are most proud of is the digitalUPLIFT programme launched in partnership with Truro & Penwith College. We knew that women were interested in finding out more about the opportunities within the tech sector and we knew that if we designed a programme for them; removing all the potential barriers that we could think of, that they would come. And they did! When the programme launched, we were blown away by the response and we had to close sign-ups for the first cohort and promise to run a second one! The digitalUPLIFT programme has been a success on so many levels. There is the obvious impact of raising the skills and confidence and supporting women into tech jobs, but we’ve also grown our TECwomen network and expanded our partnerships with local, inspirational employers, who share the TECwomen values. In the year ending June 2024 we delivered projects to 3798 under 18's and 1193 over 18's. As with all our programmes, this would not have been possible without the generous support from our sponsors and we are so appreciative of their support to make this programme happen.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Directors' Remuneration During the reporting period, the Community Interest Company remunerated its directors as follows: The total salary paid to two directors amounted to £54772. In addition, payments totaling £8680 were made to the directors for services/products provided to the company. These payments were made in accordance with the company’s governing documents and in line with its commitment to delivering community benefit. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 March 2025

And signed on behalf of the board by:
Name: Caitlin Gould
Status: Director