THE RECOVERY COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
SC616983 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

THE RECOVERY COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2022

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

THE RECOVERY COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 8,600 8,000
Cost of sales: ( 7,100 ) ( 7,586 )
Gross profit(or loss): 1,500 414
Administrative expenses: ( 2,492 ) ( 991 )
Operating profit(or loss): (992) (577)
Profit(or loss) before tax: (992) (577)
Profit(or loss) for the financial year: (992) (577)

THE RECOVERY COLLECTIVE CIC

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 400 800
Total fixed assets: 400 800
Current assets
Cash at bank and in hand: 250 9,692
Total current assets: 250 9,692
Creditors: amounts falling due within one year: 4 ( 1,870 ) ( 10,720 )
Net current assets (liabilities): (1,620) (1,028)
Total assets less current liabilities: (1,220) ( 228)
Creditors: amounts falling due after more than one year: 5 ( 1,382 ) ( 1,382 )
Total net assets (liabilities): (2,602) (1,610)
Members' funds
Profit and loss account: (2,602) ( 1,610)
Total members' funds: ( 2,602) (1,610)

The notes form part of these financial statements

THE RECOVERY COLLECTIVE CIC

Balance sheet statements

For the year ending 31 December 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 25 September 2023
and signed on behalf of the board by:

Name: DEREK WATT
Status: Director

The notes form part of these financial statements

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

    Other accounting policies

    The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 0 0

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 1,600 1,600
Additions
Disposals
Revaluations
Transfers
At 31 December 2022 1,600 1,600
Depreciation
At 1 January 2022 800 800
Charge for year 400 400
On disposals
Other adjustments
At 31 December 2022 1,200 1,200
Net book value
At 31 December 2022 400 400
At 31 December 2021 800 800

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 250 500
Accruals and deferred income 1,620 10,220
Total 1,870 10,720

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

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

2022 2021
£ £
Other creditors 1,382 1,382
Total 1,382 1,382

COMMUNITY INTEREST ANNUAL REPORT

THE RECOVERY COLLECTIVE CIC

Company Number: SC616983 (Scotland)

Year Ending: 31 December 2022

Company activities and impact

Directors Report for 2022The Recovery Collective is a community interest company formed in November 2018 with the idea to create a free recovery focused music festival for people in recovery from addiction and mental health, homelessness and social isolation. We came together because of our love of music and recovery and we wanted to create an event that not only people in recovery could enjoy as it was alcohol free and a safe environment but also something the whole community could enjoy.We hosted our first event in May 2019 with great success and built up great partnerships with other CIC and recovery communities that believed in the work that we were doing and wanted to support that work. Our main partner for the event that we put on called Recovery Connects was In-House CIC and they supported us with the venue and sound and technical support.Our 3rd event was held on the 29th May 2022, after the disappointment of the previous year being cancelled due to extreme weather conditions we were hoping that this year went ahead with no issues. The event this time went ahead with no issues and had people in recovery from addiction from all over Scotland in attendance. The event is now starting gain some traction within the local community and is a great opportunity for people who want to come along to an alcohol free family event with their families. We are now seeing people from some of the local ethnic communities coming along to the event with their families which is amazing to see for us as this was always our hope that this event would become more than an event that celebrates people in recovery but also promotes wellness within communities.The Recovery Collective is only made up of our four directors and none of us pay ourselves for any of the work we do with The Recovery Collective it is all on a voluntary basis so all money that comes into the orginisation through sponsorship or grants is spent on the event we put on Recovery Connects and to buy or rent the equipment or services we need for that event.With the above in mind the only money that has been spent by The Recovery Collective this financial year is money that has been spent on the services of others to put on our event on 29th May 2022 at Queens Park in Glasgow.Taking into consideration the above statement and after some reflection of our time hosting this event The Recovery Collective has came to the decision that we are going to change the status of our organisation from a CIC to a registered charity our reasoning for this is, none of us within the group are looking to make any financial gain from the organisation so feel we are more suited as SCIO rather than CIC. In order for us to begin this process we were advised to tie up our accounts for 2022 and make no spend in 2023 so with that in mind we made a donation to Scottish Recovery Consortium in December 2022 an organisation with similar values as our own, the amount is detailed within our accounts for 2022 and is accompanied by a thank you for donation letter. As of the end of the year 2022 The Recovery Collective has made no spend for the financial year 2023 and after submitting accounts for 2022 will begin the process of transition from CIC too SCIO.Derek WattThe Recovery Collective

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
25 September 2023

And signed on behalf of the board by:
Name: DEREK WATT
Status: Director