SIKA GYMNASTICS CIC

Company Registration Number:
NI671327 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

SIKA GYMNASTICS CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SIKA GYMNASTICS CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 25,287 3,553
Total fixed assets: 25,287 3,553
Current assets
Cash at bank and in hand: 40,457 68,358
Total current assets: 40,457 68,358
Creditors: amounts falling due within one year: 4 ( 11,024 ) ( 29,527 )
Net current assets (liabilities): 29,433 38,831
Total assets less current liabilities: 54,720 42,384
Total net assets (liabilities): 54,720 42,384
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 54,710 42,374
Total Shareholders' funds: 54,720 42,384

The notes form part of these financial statements

SIKA GYMNASTICS 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 April 2025
and signed on behalf of the board by:

Name: Mary McGoldrick
Status: Director

The notes form part of these financial statements

SIKA GYMNASTICS 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

    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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and Machinery 25% reducing balance

SIKA GYMNASTICS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 5

SIKA GYMNASTICS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 5,066 5,066
Additions 28,434 28,434
Disposals
Revaluations
Transfers
At 31 July 2024 33,500 33,500
Depreciation
At 1 August 2023 1,513 1,513
Charge for year 6,700 6,700
On disposals
Other adjustments
At 31 July 2024 8,213 8,213
Net book value
At 31 July 2024 25,287 25,287
At 31 July 2023 3,553 3,553

SIKA GYMNASTICS CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 3 6,442
Other creditors 11,021 23,085
Total 11,024 29,527

COMMUNITY INTEREST ANNUAL REPORT

SIKA GYMNASTICS CIC

Company Number: NI671327 (Northern Ireland)

Year Ending: 31 July 2024

Company activities and impact

The company continues to be active in promoting gymnastics in the local area and running recreational gymnastics classes for about 260 children. This includes both able bodied children and less able bodied children. The children are drawn from a wide social spectrum thought the local area and meet regularly to have classes with their instructors. Whilst the purpose is to provide fun and exercise there is a year closing final gala where children perform their routines to family and friends.

Consultation with stakeholders

The company’s stakeholders are the families involved with the gymnastics classes. The director has been involved in local gymnastics for 17 years and understands the needs of recreational gymnasts. The coaches consult regularly with the families if they are content with the level and format of the classes. Attendance is monitored and there is high demand to join the sessions with a lengthy waiting list. Parents are invited to email the director with any issues but during the year there were no major issues raised.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by the director in respect of qualifying services was £38,438. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Mary McGoldrick
Status: Director