ASGARD CORNWALL CIC

Company limited by guarantee

Company Registration Number:
15207482 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 12 October 2023

End date: 31 October 2024

ASGARD CORNWALL CIC

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ASGARD CORNWALL CIC

Balance sheet

As at 31 October 2024

Notes 13 months to 31 October 2024


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 8,126
Investments:   0
Total fixed assets: 8,126
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 0
Investments:   0
Total current assets: 0
Prepayments and accrued income: 0
Creditors: amounts falling due within one year:   0
Net current assets (liabilities): 0
Total assets less current liabilities: 8,126
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 8,126
Members' funds
Profit and loss account: 8,126
Total members' funds: 8,126

The notes form part of these financial statements

ASGARD CORNWALL CIC

Balance sheet statements

For the year ending 31 October 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 25 June 2025
and signed on behalf of the board by:

Name: gemma postins
Status: Director

The notes form part of these financial statements

ASGARD CORNWALL CIC

Notes to the Financial Statements

for the Period Ended 31 October 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 Policy – Asgard Cornwall CIC Income Sources Asgard Cornwall CIC primarily generates income through membership fees, which support day-to-day operational costs such as utilities, insurance, equipment upkeep, and maintenance of the gym space. Use of External Funding We occasionally receive grant funding from third-party organisations. This funding is used primarily to cover coaching costs and deliver specific community programmes. In rare cases, and only when explicitly approved by the funder, a portion of funding may support limited gym rental costs linked to those programmes. However, external funding is not used to cover the core running costs of the gym. Director Support Where operating expenses have exceeded membership income, directors have personally covered the shortfall, ensuring continuity without placing the burden on participants or relying on restricted funding streams. Reinvestment and Community Commitment Any surplus from memberships is reinvested to enhance the facility and maintain safe, inclusive, and accessible services. Our operating model reflects our commitment to supporting vulnerable groups, youth development, and community wellbeing.

    Tangible fixed assets depreciation policy

    Depreciation Policy Assets are depreciated over 1 to 3 years. Items with hygiene risks (e.g. gloves, pads) are expensed immediately due to no resale value. Durable fixtures (e.g. mats, flooring) lose value quickly through intensive use.

ASGARD CORNWALL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

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

ASGARD CORNWALL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 8,126 8,126
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 October 2024 8,126 8,126
Depreciation
Charge for year 0 0
On disposals 0 0
Other adjustments 0 0
At 31 October 2024 0 0
Net book value
At 31 October 2024 8,126 8,126

COMMUNITY INTEREST ANNUAL REPORT

ASGARD CORNWALL CIC

Company Number: 15207482 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

Asgard Cornwall supported the local community throughout the year by delivering youth-focused MMA intervention programmes, working closely with schools, and participating in public events. We provided free memberships to individuals facing financial hardship, ran sessions to help women feel safer at night, and supported victims of bullying with confidence-building training. We also created development opportunities for teens through Young Leader roles and Duke of Edinburgh placements, often offering gym access in exchange for helping with children’s sessions. To continue and expand this work, we’ve applied for additional funding.

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
12 November 2024

And signed on behalf of the board by:
Name: gemma postins
Status: Director