for the Period Ended 31 August 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 August 2024
Directors
The directors shown below have held office during the whole of the period from
3 August 2023
to
31 August 2024
The director shown below has held office during the period of
3 August 2023
to
5 April 2024
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
13 months to 31 August 2024 | ||
---|---|---|
|
£ |
|
Turnover: |
|
|
Cost of sales: |
|
|
Gross profit(or loss): |
|
|
Distribution costs: |
|
|
Administrative expenses: |
(
|
|
Other operating income: |
|
|
Operating profit(or loss): |
( |
|
Profit(or loss) before tax: |
( |
|
Profit(or loss) for the financial year: |
( |
As at
Notes | 13 months to 31 August 2024 | ||
---|---|---|---|
|
£ |
||
Current assets | |||
Debtors: | 3 |
|
|
Cash at bank and in hand: |
|
||
Total current assets: |
|
||
Creditors: amounts falling due within one year: | 4 |
(
|
|
Net current assets (liabilities): |
( |
||
Total assets less current liabilities: |
( |
||
Total net assets (liabilities): |
( |
||
Capital and reserves | |||
Called up share capital: |
|
||
Profit and loss account: |
( |
||
Total Shareholders' funds: |
( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 August 2024
Basis of measurement and preparation
for the Period Ended 31 August 2024
13 months to 31 August 2024 | ||
---|---|---|
Average number of employees during the period |
|
for the Period Ended 31 August 2024
13 months to 31 August 2024 | ||
---|---|---|
£ | ||
Prepayments and accrued income |
|
|
Total |
|
for the Period Ended 31 August 2024
13 months to 31 August 2024 | ||
---|---|---|
£ | ||
Accruals and deferred income |
|
|
Other creditors |
|
|
Total |
|
for the Period Ended 31 August 2024
Name of director receiving advance or credit: |
|
Description of the transaction: | |
|
|
£ | |
---|---|
Balance at | |
Advances or credits made: |
|
Advances or credits repaid: |
|
Balance at 31 August 2024 |
|
FinPact continues to evolve from its founding vision of supporting fintech growth in the North East to a broader mission, leveraging fintech to address systemic regional challenges. In 2023/24, FinPact focused on strategic growth, ecosystem engagement, and impactful initiatives that align with its Inspire; Innovation; Impact ethos Education-focused collaborations include partnerships with Red Start Educate, providing financial education into underserved schools and plans for curriculum-aligned fintech content. We have also sourced and distributed IT Hardware from local enterprises to local schools. Delivered digital and fintech workshops to Cohort 11 of the Durham City Incubator programme run by Durham County Council. Funding secured is being used to support additional initiatives and database development.
An Operating Board and Impact Steering Group (ISG) were formed to guide FinPact’s direction, and assist in its delivery projects the Board and Impact Steering Group now comprise a total of over 60 enterprises and institutions. A database and communication strategy is being developed to improve ecosystem engagement and deliver greater value to start-ups, scale-ups, and established firms. Our Impact Steering Group (ISG) was formed to provide an opportunity for stakeholders across the North East Fintech Community and currently numbers some 60 participants coming from the business community, further and Higher education establishments, Local Government, technology providers, Consultancies and the Legal profession. The regular ISG meetings offer the opportunity for members to introduce and participate in initiatives and to help direct and where appropriate support the delivery of the activities undertaken by FinPact. FinPact are also active collaborators with like minded clusters from other sectors such as the Cybersecurity sector.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
30 April 2025
And signed on behalf of the board by:
Name: Stephen Kevan
Status: Director