TEAM SPRINGBOARD CIC

Company limited by guarantee

Company Registration Number:
09332790 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

TEAM SPRINGBOARD CIC

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

TEAM SPRINGBOARD CIC

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 6,372 2,110
Investments:   0 0
Total fixed assets: 6,372 2,110
Current assets
Stocks:   0 0
Debtors: 4 593 4,918
Cash at bank and in hand: 25,148 24,228
Investments:   0 0
Total current assets: 25,741 29,146
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 12,013 ) ( 12,831 )
Net current assets (liabilities): 13,728 16,315
Total assets less current liabilities: 20,100 18,425
Total net assets (liabilities): 20,100 18,425
Members' funds
Profit and loss account: 20,100 18,425
Total members' funds: 20,100 18,425

The notes form part of these financial statements

TEAM SPRINGBOARD CIC

Balance sheet statements

For the year ending 31 December 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 31 July 2025
and signed on behalf of the board by:

Name: Daksha Piparia
Status: Director

The notes form part of these financial statements

TEAM SPRINGBOARD CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and machinery 10% straight line Motor vehicles 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Other accounting policies

    Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash- generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TEAM SPRINGBOARD CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 5

TEAM SPRINGBOARD CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 5,001 5,001
Additions 5,322 5,322
Disposals
Revaluations
Transfers
At 31 December 2024 10,323 10,323
Depreciation
At 1 January 2024 2,891 2,891
Charge for year 1,060 1,060
On disposals
Other adjustments
At 31 December 2024 3,951 3,951
Net book value
At 31 December 2024 6,372 6,372
At 31 December 2023 2,110 2,110

TEAM SPRINGBOARD CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
£ £
Trade debtors 200 3,632
Prepayments and accrued income 1,286
Other debtors 393
Total 593 4,918
Debtors due after more than one year: 11,379 12,147

TEAM SPRINGBOARD CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 634 684
Other creditors 11,379 12,147
Total 12,013 12,831

COMMUNITY INTEREST ANNUAL REPORT

TEAM SPRINGBOARD CIC

Company Number: 09332790 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

During 2024 Team Springboard CIC provided open gardening sessions targeted at people with vulnerabilities who benefited from the well being aspects of gardening. These took place at Team Springboard’s Zen Community Garden on the Lake View Allotment site in Coventry. Most of the produce grown was donated to charities providing food to those in need. Team Springboard worked with the following organisations accepting referrals to open gardening sessions or running sessions specifically for their service users: Kairos, a Coventry based organisation supporting women victims of sexual exploitation Hereward College, Coventry, the national college for disabled people The Coventry Refugee and Migrant Centre as part of a series of sessions grant funded by the Heart of England Community Foundation Voluntary Action Coventry’s Chat Central project which tackles isolation and encourages people to volunteer During 2024, Team Springboard CIC also did contract work running community gardening sessions for other not-for-profits. Team Springboard CIC Impact Team Springboard CIC provided 95 open gardening sessions to 94 participants, some coming just once and some coming regularly. 315 kg of fruit and vegetables was donated to food projects such as food banks, social supermarkets and providers of cooked meals. The rest was taken home and eaten by participants. An impact survey of participants showed that people felt more connected to their community by gardening with Team Springboard. The results showed the gardening sessions made people happy, people felt they were doing something useful by growing food for those in need and people were looking forward to gardening with Team Springboard in the future.

Consultation with stakeholders

Stakeholders are: Participants in open gardening sessions Team Springboard’s employee and contractor Organisations which provide funding The Lake View Allotment Society committee- the community garden is on a plot rented from the Lake View Allotment Society Customers for contract work Organisations Team Springboard works with Participants in open gardening sessions were encouraged to join a Whats App group to share information and views about gardening sessions. Sessions are scheduled and adapted according to views. One of the community gardening participants recently joined the board of directors. Team Springboard’s employee and contractor were present at director meetings and given the opportunity to share their opinions. Their opinions are considered by directors as part of the decision making process. Organisations which provide funding were sent a copy of the annual impact report. There has been no feedback to act on. The Lake View Allotment Society committee is formally consulted before major developments such as building a new shed. Their feedback is included in the plans for the developments. There is informal dialogue between the secretary, who visits the Zen Community Garden regularly, and the horticultural manager on routine issues. Consultation has not yet begun with customers for contract work and organisations Team Springboard works with.

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
31 July 2025

And signed on behalf of the board by:
Name: Lorna Lawrence
Status: Director