LEICESTER STARTUPS CIC
LEICESTER STARTUPS CIC
LEICESTER STARTUPS CIC
Company limited by guarantee
Company Registration Number:
12210658 (England and Wales)
Unaudited statutory accounts for the year ended 30 September 2020
Period of accounts
Start date: 17 September 2019
End date: 30 September 2020
LEICESTER STARTUPS CIC
Contents of the Financial Statements
for the Period Ended 30 September 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
LEICESTER STARTUPS CIC
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 September 2020
Directors
The directors shown below have held office during the whole of the period from
17 September 2019 to 30 September 2020
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
And signed on behalf of the board by:
Name:
Status: Director
LEICESTER STARTUPS CIC
Profit And Loss Account
for the Period Ended
2020 | ||
---|---|---|
| £ | |
Turnover: | | |
Cost of sales: | | |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | |
Other operating income: | | |
Operating profit(or loss): | | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | | |
Profit(or loss) before tax: | | |
Tax: | ( | |
Profit(or loss) for the financial year: | |
LEICESTER STARTUPS CIC
Balance sheet
As at
Notes | 2020 | ||
---|---|---|---|
| £ | ||
Fixed assets | |||
Intangible assets: | | ||
Tangible assets: | 3 | | |
Investments: | | ||
Total fixed assets: | | ||
Current assets | |||
Stocks: | | ||
Debtors: | | ||
Cash at bank and in hand: | | ||
Total current assets: | | ||
Net current assets (liabilities): | | ||
Total assets less current liabilities: | | ||
Creditors: amounts falling due after more than one year: | 4 | ( | |
Provision for liabilities: | | ||
Accruals and deferred income: | | ||
Total net assets (liabilities): | | ||
Members' funds | |||
Profit and loss account: | | ||
Total members' funds: | |
The notes form part of these financial statements
LEICESTER STARTUPS CIC
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
LEICESTER STARTUPS CIC
Notes to the Financial Statements
for the Period Ended 30 September 2020
-
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 is reduced for estimated customer returns, rebates and other similar allowances.Rendering of servicesTurnover 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.Sponsorship income is recognised when received, unless the funding is designated for funding specific costs that have yet to be incurred.1.3.Tangible Fixed As Tangible fixed assets depreciation policy
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis, Plant and Machinery, 33 percent straight line Other accounting policies
TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
LEICESTER STARTUPS CIC
Notes to the Financial Statements
for the Period Ended 30 September 2020
-
2. Employees
2020 Average number of employees during the period 0
LEICESTER STARTUPS CIC
Notes to the Financial Statements
for the Period Ended 30 September 2020
3. Tangible assets
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
Additions | | | ||||
Disposals | | | ||||
Revaluations | | | ||||
Transfers | | | ||||
At 30 September 2020 | | | ||||
Depreciation | ||||||
Charge for year | | | ||||
On disposals | | | ||||
Other adjustments | | | ||||
At 30 September 2020 | | | ||||
Net book value | ||||||
At 30 September 2020 | | |
LEICESTER STARTUPS CIC
Notes to the Financial Statements
for the Period Ended 30 September 2020
4. Creditors: amounts falling due after more than one year note
2020 | ||
---|---|---|
£ | ||
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Other creditors | | |
Total | |
COMMUNITY INTEREST ANNUAL REPORT
LEICESTER STARTUPS CIC
Company Number: 12210658 (England and Wales)
Year Ending: 30 September 2020
LS CIC is building a thriving community of high-growth, scalable startups in Leicester(shire). Leading to higher graduate retention rates and a magnet for skills migration, and new business startups. We preach “Give First”, which means trying to help entrepreneurs (and other community participants) with no immediate expectation of getting anything back. This pay-it-forward principle is what builds strong startup communities. We’ve achieved the following since we incorporated. - Deliver Accelerator Programmes -Operate co-working space -Leicester Startup Week -Promote local startups -Produce podcast-Offer case management -Facilitate mentoring -Organise meet-up Events Following the completion of our accelerator programme, two of the startups raised external funding.
Leicester Startups is part of a consortium comprising the University of Leicester, De Montfort University, LCB Depot (Leicester City Council), CASE and Leicester Startups CIC. The partners meet once a month to review progress and agree the strategic prioritises.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
15 June 2021
And signed on behalf of the board by:
Name: Ben Ravilious
Status: Director