NEW VENTURES WORLDWIDE CIC

Company limited by guarantee

Company Registration Number:
13487887 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

NEW VENTURES WORLDWIDE CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

NEW VENTURES WORLDWIDE CIC

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Directors

The director shown below has held office during the whole of the period from
1 August 2023 to 31 July 2024

James Langdon


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
14 April 2025

And signed on behalf of the board by:
Name: James Langdon
Status: Director

NEW VENTURES WORLDWIDE CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 141,518 143,830
Cost of sales: ( 116,078 ) ( 93,679 )
Gross profit(or loss): 25,440 50,151
Administrative expenses: ( 34,442 ) ( 28,283 )
Other operating income: 3,450
Operating profit(or loss): (5,552) 21,868
Interest receivable and similar income: 17
Interest payable and similar charges: ( 1,830 ) ( 1,440 )
Profit(or loss) before tax: (7,382) 20,445
Tax: ( 3,664 )
Profit(or loss) for the financial year: (7,382) 16,781

NEW VENTURES WORLDWIDE CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 80,572 20,894
Total current assets: 80,572 20,894
Creditors: amounts falling due within one year: 3 ( 2,348 ) ( 4,875 )
Net current assets (liabilities): 78,224 16,019
Total assets less current liabilities: 78,224 16,019
Accruals and deferred income: ( 70,387 ) ( 800 )
Total net assets (liabilities): 7,837 15,219
Members' funds
Profit and loss account: 7,837 15,219
Total members' funds: 7,837 15,219

The notes form part of these financial statements

NEW VENTURES WORLDWIDE CIC

Balance sheet statements

For the year ending 31 July 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 14 April 2025
and signed on behalf of the board by:

Name: James Langdon
Status: Director

The notes form part of these financial statements

NEW VENTURES WORLDWIDE CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

    2.2. Turnover 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. 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.

    Valuation information and policy

    2.3. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.

NEW VENTURES WORLDWIDE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 0

NEW VENTURES WORLDWIDE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 58 3,875
Other creditors 2,290 1,000
Total 2,348 4,875

COMMUNITY INTEREST ANNUAL REPORT

NEW VENTURES WORLDWIDE CIC

Company Number: 13487887 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

They enable young people to discover a new culture and make an impact by volunteering. As an international youth development organisation, they make all the arrangements and provide the preparation, training, support, food, accommodation and more to help you grow into your role supporting the local community of the chosen programme location. https://newventuresworldwide.com/

Consultation with stakeholders

The team have previous experience working in the same environment under a different organisation so are aware of pitfalls and problems. There is only one Director at present, of the CIC, and he has since set up a parallel CIO for the UK operation which will provide separate guidance and work with the necessary Trustees to benefit both organisations. The team is visible on the website, with programme managers in various locations who can feedback on the local operation.

Directors' remuneration

The sole Director, received payments from the organisation totalling £17,577.11 for programme hosting fees for supporting the volunteer placements.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
14 April 2025

And signed on behalf of the board by:
Name: James Langdon
Status: Director