FINPACT COMMUNITY INTEREST COMPANY

Company Registration Number:
15046578 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 3 August 2023

End date: 31 August 2024

FINPACT COMMUNITY INTEREST COMPANY

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

FINPACT COMMUNITY INTEREST COMPANY

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

Directors

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

Stephen David Kevan
Usman Shahid
Kevin Telford


The director shown below has held office during the period of
3 August 2023 to 5 April 2024

James Edward Thwaites


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
30 April 2025

And signed on behalf of the board by:
Name: Stephen David Kevan
Status: Director

FINPACT COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 August 2024

13 months to 31 August 2024


£
Turnover: 0
Cost of sales: 0
Gross profit(or loss): 0
Distribution costs: 0
Administrative expenses: ( 1,707 )
Other operating income: 0
Operating profit(or loss): (1,707)
Profit(or loss) before tax: (1,707)
Profit(or loss) for the financial year: (1,707)

FINPACT COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 August 2024

Notes 13 months to 31 August 2024


£
Current assets
Debtors: 3 332
Cash at bank and in hand: 8,121
Total current assets: 8,453
Creditors: amounts falling due within one year: 4 ( 10,156 )
Net current assets (liabilities): (1,703)
Total assets less current liabilities: (1,703)
Total net assets (liabilities): (1,703)
Capital and reserves
Called up share capital: 4
Profit and loss account: (1,707 )
Total Shareholders' funds: ( 1,703 )

The notes form part of these financial statements

FINPACT COMMUNITY INTEREST COMPANY

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 30 April 2025
and signed on behalf of the board by:

Name: Stephen David Kevan
Status: Director

The notes form part of these financial statements

FINPACT COMMUNITY INTEREST COMPANY

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

FINPACT COMMUNITY INTEREST COMPANY

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

FINPACT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Debtors

13 months to 31 August 2024
£
Prepayments and accrued income 332
Total 332

FINPACT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Creditors: amounts falling due within one year note

13 months to 31 August 2024
£
Accruals and deferred income 10,150
Other creditors 6
Total 10,156

FINPACT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Loans to directors

Name of director receiving advance or credit: Stephen David Kevan
Description of the transaction:
CIC set up costs
£
Balance at
Advances or credits made: 774
Advances or credits repaid: 768
Balance at 31 August 2024 6

COMMUNITY INTEREST ANNUAL REPORT

FINPACT COMMUNITY INTEREST COMPANY

Company Number: 15046578 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

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.

Consultation with stakeholders

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.

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
30 April 2025

And signed on behalf of the board by:
Name: Stephen Kevan
Status: Director