| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| FOR |
| EUROPEAN LEADERSHIP NETWORK |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| FOR |
| EUROPEAN LEADERSHIP NETWORK |
| EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| EUROPEAN LEADERSHIP NETWORK |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 37 Portland Road |
| KILMARNOCK |
| Ayrshire |
| KA1 2DJ |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| EUROPEAN LEADERSHIP NETWORK |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of European Leadership Network for the period ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts. |
| This report is made solely to the Board of Directors of European Leadership Network, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of European Leadership Network and state those matters that we have agreed to state to the Board of Directors of European Leadership Network, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that European Leadership Network has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of European Leadership Network. You consider that European Leadership Network is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of European Leadership Network. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 37 Portland Road |
| KILMARNOCK |
| Ayrshire |
| KA1 2DJ |
| EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896) |
| BALANCE SHEET |
| 31 MAY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| RESERVES |
| Income and expenditure account | ( |
) |
| ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| 1. | STATUTORY INFORMATION |
| European Leadership Network is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in pound sterling (£) which is the functional currency of the company. |
| The financial statements are rounded to the nearest £. |
| Turnover |
| Turnover is a combination of both grant income and donations. |
| Grant income |
| This represents amounts receivable for grant income in the period under review. |
| Other income |
| This comprises of amounts received in respect of the provision of events and related content under the conditions of the grant income, research income and donations. This is recognised as soon as it is probable that the economic benefits will be received and the amount of income can be measured reliably. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Leasing commitments |
| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
| Tangible fixed assets and depreciation |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
| Fixtures and fittings 25% straight line |
| EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist.The directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements in arriving at this conclusion. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 March 2023 |
| Additions |
| At 31 May 2024 |
| DEPRECIATION |
| At 1 March 2023 |
| Charge for period |
| At 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 28 February 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024 |
| 7. | LIMITED BY GUARANTEE |
| The company is limited by guarantee and therefore has no share capital. In the event of the company being wound up every member undertakes to contribute to the assets of the company, during the time he/she is a member, such as may be required not exceeding £10. |