CHALLENGE ACADEMY CIC


CHALLENGE ACADEMY CIC

Company limited by guarantee

Company Registration Number:
10246784 (England and Wales)

Unaudited statutory accounts for the year ended 28 June 2021

Period of accounts

Start date: 1 July 2020

End date: 28 June 2021

CHALLENGE ACADEMY CIC

Contents of the Financial Statements

for the Period Ended 28 June 2021

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CHALLENGE ACADEMY CIC

Balance sheet

As at 28 June 2021

Notes 2021 2020


£

£
Fixed assets
Tangible assets: 3 228,670 203,925
Total fixed assets: 228,670 203,925
Current assets
Debtors: 4 83,553 40,130
Cash at bank and in hand: 164,768 81,075
Total current assets: 248,321 121,205
Creditors: amounts falling due within one year: 5 ( 92,698 ) ( 44,224 )
Net current assets (liabilities): 155,623 76,981
Total assets less current liabilities: 384,293 280,906
Creditors: amounts falling due after more than one year: 6 ( 200,000 ) ( 200,000 )
Total net assets (liabilities): 184,293 80,906
Members' funds
Profit and loss account: 184,293 80,906
Total members' funds: 184,293 80,906

The notes form part of these financial statements

CHALLENGE ACADEMY CIC

Balance sheet statements

For the year ending 28 June 2021 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 20 May 2022
and signed on behalf of the board by:

Name: Mr M Ellis
Status: Director

The notes form part of these financial statements

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

  • 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

    Tangible fixed assets depreciation policy

    Plant and equipment 20% reducing balanceFixtures and fittings 10% straight lineComputers 33% straight lineMotor vehicles 20% reducing balance

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

  • 2. Employees

    2021 2020
    Average number of employees during the period 8 8

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2020 262,053 262,053
Additions 56,291 56,291
Disposals
Revaluations
Transfers
At 28 June 2021 318,344 318,344
Depreciation
At 1 July 2020 58,128 58,128
Charge for year 31,546 31,546
On disposals
Other adjustments
At 28 June 2021 89,674 89,674
Net book value
At 28 June 2021 228,670 228,670
At 30 June 2020 203,925 203,925

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

4. Debtors

2021 2020
£ £
Trade debtors 72,530 22,258
Other debtors 11,023 17,872
Total 83,553 40,130

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

5. Creditors: amounts falling due within one year note

2021 2020
£ £
Bank loans and overdrafts 51
Trade creditors 58,810 17,314
Taxation and social security 16,369 22,994
Other creditors 17,468 3,916
Total 92,698 44,224

CHALLENGE ACADEMY CIC

Notes to the Financial Statements

for the Period Ended 28 June 2021

6. Creditors: amounts falling due after more than one year note

2021 2020
£ £
Bank loans and overdrafts 200,000 200,000
Total 200,000 200,000

COMMUNITY INTEREST ANNUAL REPORT

CHALLENGE ACADEMY CIC

Company Number: 10246784 (England and Wales)

Year Ending: 28 June 2021

Company activities and impact

Challenge Academy is a Community Interest Company with a wealth of outdoor activity delivery experience, We passionately believe in the power of the active environment to reboot, challenge, educate and empower so that people can find their purposes, focus mindset and unlock potential. We, the board of CA, have an innate drive for social impact. Over the past four years we have created an innovative and unique offer and collaborated with organisations with a similar purpose to ensure that we are able to reach those people who are most in need. Our approach and methodology is based on lived experience and the need to be mentally tough. Our main community focus has been to reach those with poor mental health; young people/adults not in education, employment, or training; people who are classed as vulnerable/at-risk; those involved with the criminal justice system; communities which experience deprivation/other disadvantages; asylum seekers/BAME groups; and people living with a disability.Challenge Academy also remains sustainable by delivering packages and bespoke programmes to mainstream schools, public and businesses within our community, all at affordable prices.The 2020/21 financial year was impacted by COVID 19 but we were able to continue our offer when permitted by local and national rules. Furthermore, Challenge Academy ramped up its community focus on services to support the mental health and wellbeing of the local community as follows:- Baggeridge Adventure - This woodland site, with our range of ropes courses, obstacle courses, ground-based challenge, classrooms and welfare facilities provided a perfect setting for our programmes. We also continued to access 250 acres of parkland for more expansive programmes. Outreach programmes to schools and organisations who could not travel to us formed a significant element of our work. During this FY we completed the build of a brand new obstacle course and constructed a new bouldering wall facility onsite.- Learning and Development - We expanded and developed delivery of programmes that focus on challenge, mindset, personal potential and team development. Well trained and purpose driven professionals ensured that our passion, programmes and products reached and impacted as many as possible.- throughout the year we continued with extensive works to our facility. We also secured funding from Sport England and Enovert Trust to further develop our site with access paths, signage, bouldering wall and a mini ropes challenge course to serve the needs of the younger and less confident. We also supplied kit and training to our local community through monies provided by the Social Enterprise Support Trust.

Consultation with stakeholders

We continually carried out surveys with community customers (much of this formed a basis for forthcoming bids for grants) - we also carried out rigorous evaluation for the general public and trip organisers who use our facility. We continually strive to improve our offer and standards. We gathered data through our Social Impact Framework. Our main stakeholders are local Voluntary Sector Organisations, Schools and Youth Organisations. Much of the feedback throughout the year has been used to form the basis of 2 bids - Social Enterprise Support Fund and National Lotteries Community Fund (in time for 22/23).

Directors' remuneration

Directors' pay for the directors Mr. M Ellis - £12,000 - Mr. J. Brookes-Clayton - £12,000. In addition to this Challenge Academy Challenge Kit Limited a sum of £18,920 for consultancy services for Mr. Ellis and Mr. Brookes-Clayton services.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 May 2022

And signed on behalf of the board by:
Name: Mr. M. Ellis
Status: Director