MKSON BASKETBALL CIC

Company limited by guarantee

Company Registration Number:
15053853 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 7 August 2023

End date: 31 August 2024

MKSON BASKETBALL CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

MKSON BASKETBALL CIC

Directors' report period ended 31 August 2024

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

Principal activities of the company

During the financial year, MKSON Basketball CIC focused on delivering accessible and inclusive basketball activities to the local community in Milton Keynes. The company provided open basketball sessions to the public every Tuesday and Friday evening, welcoming individuals of all ages, backgrounds, and skill levels. These sessions not only promoted physical activity but also supported mental well-being and encouraged positive social interaction. The company maintained a pay-as-you-play model to ensure that financial barriers did not prevent participation. It also provided opportunities for local players to develop their skills and created pathways for coaches and referees to gain experience and contribute to the community. MKSON Basketball CIC was managed by six directors, all appointed on 7 August 2023. They are Chun Leung CHAN, Man Kit CHEUK, Kiu Fung LAU, Kai Chung PANG, Kai Chun WONG, and Ngan Ah WONG. Throughout the year, the company delivered over 100 basketball sessions with more than 500 total attendees. In addition to regular weekly sessions, MKSON Basketball CIC organised a 3x3 basketball tournament that attracted over 30 players. This event offered a friendly yet competitive platform to further engage the local basketball community and raise awareness of the sport. The tournament was well received and is planned to continue as a regular annual event. The company’s work benefited the local community by improving access to sport, encouraging healthy and active lifestyles, and reducing social isolation. Sessions were particularly impactful for young people and adults seeking a sense of belonging and structured recreation. MKSON Basketball CIC also supported local venues and created part-time income opportunities for coaches and referees. A number of participants have progressed into competitive leagues, demonstrating the value of the company’s development support. Looking ahead, MKSON Basketball CIC plans to repeat and expand its 3x3 basketball event, launch youth development sessions, and collaborate with schools and local partners to reach more participants. The company also aims to explore funding opportunities to enhance affordability and introduce training workshops to support new coaches and referees. The directors are committed to continuing the company’s mission and further strengthening its positive impact on the Milton Keynes community through sport.



Directors

The directors shown below have held office during the whole of the period from
7 August 2023 to 31 August 2024

Man Kit Cheuk
Chun Leung Chan
Kiu Fung Lau
Kai Chung Pang
Kai Chun Wong
Ngan Ah Wong


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
26 April 2025

And signed on behalf of the board by:
Name: Man Kit Cheuk
Status: Director

MKSON BASKETBALL CIC

Profit And Loss Account

for the Period Ended 31 August 2024

13 months to 31 August 2024


£
Turnover: 10,198
Cost of sales: ( 8,256 )
Gross profit(or loss): 1,942
Operating profit(or loss): 1,942
Profit(or loss) before tax: 1,942
Tax: ( 361 )
Profit(or loss) for the financial year: 1,581

MKSON BASKETBALL CIC

Balance sheet

As at 31 August 2024

Notes 13 months to 31 August 2024


£
Current assets
Cash at bank and in hand: 3,658
Total current assets: 3,658
Prepayments and accrued income: 93
Creditors: amounts falling due within one year: 3 ( 132 )
Net current assets (liabilities): 3,619
Total assets less current liabilities: 3,619
Creditors: amounts falling due after more than one year: 4 ( 1,676 )
Provision for liabilities: ( 361 )
Total net assets (liabilities): 1,582
Members' funds
Profit and loss account: 1,582
Total members' funds: 1,582

The notes form part of these financial statements

MKSON BASKETBALL CIC

Balance sheet statements

For the year ending 31 August 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 26 April 2025
and signed on behalf of the board by:

Name: Man Kit Cheuk
Status: Director

The notes form part of these financial statements

MKSON BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 31 August 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

MKSON BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    13 months to 31 August 2024
    Average number of employees during the period 0

MKSON BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Creditors: amounts falling due within one year note

13 months to 31 August 2024
£
Other creditors 132
Total 132

MKSON BASKETBALL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Creditors: amounts falling due after more than one year note

13 months to 31 August 2024
£
Other creditors 1,676
Total 1,676

COMMUNITY INTEREST ANNUAL REPORT

MKSON BASKETBALL CIC

Company Number: 15053853 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

MKSON Basketball CIC is a community-driven organisation in Milton Keynes, dedicated to making basketball accessible to all. We host open sessions every Tuesday and Friday, providing a welcoming space for players of all skill levels to stay active, improve their game, and connect with others. Our activities benefit the community by promoting physical and mental well-being, fostering social inclusion, and creating development opportunities for players, coaches, and referees. We ensure affordability so that cost is not a barrier, while also supporting local venues and businesses. Some of our players have progressed to competitive leagues, highlighting the impact of our sessions. Through basketball, we strengthen the Milton Keynes community by encouraging active lifestyles, building connections, and making the sport more accessible to all.

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
26 April 2025

And signed on behalf of the board by:
Name: Man Kit Cheuk
Status: Director