KESTREL NEW MEDIA CIC

Company limited by guarantee

Company Registration Number:
13268975 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2022

Period of accounts

Start date: 16 March 2021

End date: 31 March 2022

KESTREL NEW MEDIA CIC

Contents of the Financial Statements

for the Period Ended 31 March 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Community Interest Report

KESTREL NEW MEDIA CIC

Directors' report period ended 31 March 2022

The directors present their report with the financial statements of the company for the period ended 31 March 2022

Directors

The director shown below has held office during the period of
21 February 2022 to 31 March 2022

Robert Nicholas Chidley


The director shown below has held office during the whole of the period from
16 March 2021 to 31 March 2022

Eleanor Lucy Holdsworth


The director shown below has held office during the period of
16 March 2021 to 28 February 2022

Richard Fraser Howarth


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
15 August 2022

And signed on behalf of the board by:
Name: Eleanor Lucy Holdsworth
Status: Director

KESTREL NEW MEDIA CIC

Profit And Loss Account

for the Period Ended 31 March 2022

13 months to 31 March 2022


£
Turnover: 2,681
Cost of sales: ( 312 )
Gross profit(or loss): 2,369
Administrative expenses: ( 620 )
Operating profit(or loss): 1,749
Profit(or loss) before tax: 1,749
Profit(or loss) for the financial year: 1,749

KESTREL NEW MEDIA CIC

Balance sheet

As at 31 March 2022

Notes 13 months to 31 March 2022


£
Current assets
Cash at bank and in hand: 1,749
Total current assets: 1,749
Net current assets (liabilities): 1,749
Total assets less current liabilities: 1,749
Total net assets (liabilities): 1,749
Members' funds
Profit and loss account: 1,749
Total members' funds: 1,749

The notes form part of these financial statements

KESTREL NEW MEDIA CIC

Balance sheet statements

For the year ending 31 March 2022 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.

This report was approved by the board of directors on 15 August 2022
and signed on behalf of the board by:

Name: Eleanor Lucy Holdsworth
Status: Director

The notes form part of these financial statements

KESTREL NEW MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 March 2022

  • 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 and represents amounts receivable for goodssupplied and services rendered, stated net of discounts.

KESTREL NEW MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 March 2022

  • 2. Employees

    13 months to 31 March 2022
    Average number of employees during the period 0

COMMUNITY INTEREST ANNUAL REPORT

KESTREL NEW MEDIA CIC

Company Number: 13268975 (England and Wales)

Year Ending: 31 March 2022

Company activities and impact

Kestrel New Media CIC was founded in April 2021, and its first project has been running South Rugby News (SRN). South Rugby News is a new hyperlocal news initiative, published online and supported financially by its readers. Our aim was to help people feel more connected and more informed about their community.We publish stories daily, and a summary of all the week's news and events each week. Some of our news is free for everyone to read, and some is exclusive for paying subscribers.The stories cover the breadth of local life, from parish-level democracy to features about local people and businesses.Our work on South Rugby News has been recognised by the Independent Community News Network and the Independent Media Association (IMA), both of whom invited us to join them. We were awarded the IMA's local/regional publication of the year in March 2022.One of our readers said: "South Rugby News keeps me up to date with important local news. It has definitely increased my awareness of local issues and opportunities to be involved in my community."Another reader said: "SRN is my main source of local news and I admire the principles. I don’t use Facebook or get local papers."During the year, one of the founding directors (Richard Howarth) retired and he was replaced by Robert Chidley. We are in the process of recruiting a third director.

Consultation with stakeholders

Stakeholders are: readers, subscribers and all members of the community in Warwickshire.Survey for readers June 2021: 7 responses. We asked readers what type of stories they wanted to read. The biggest response was stories on the environment. We continue to try to write regularly about environmental issues.Survey for readers January 2022: 15 responses. We asked readers what type of stories they wanted to read about and what the biggest issues for them were. This time, housing development was one of the top areas of concern.Meetings and discussions with local rotary clubs, representatives from a local WI group and MP.Regularly attend parish council meetingsSocial media presence and participation in neighbourhood Facebook groupsInvite comment, story and event submissions on a regular basisAttended Dunchurch Family Fun Day in July 2021. The pandemic meant that a lot of the usual community gatherings didn't happen, so a lot of our community engagement took place online.We held our first open news room in March 2022 and plan to repeat the exercise

Directors' remuneration

No remuneration was received

Transfer of assets

One donation of £20 was made to the National Trust for the purpose of planting tree saplings.

This report was approved by the board of directors on
15 August 2022

And signed on behalf of the board by:
Name: Eleanor Holdsworth
Status: Director