MARCUS GARVEY CENTRE CIC

Company limited by guarantee

Company Registration Number:
13834686 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 7 January 2022

End date: 31 January 2023

MARCUS GARVEY CENTRE CIC

Contents of the Financial Statements

for the Period Ended 31 January 2023

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

MARCUS GARVEY CENTRE CIC

Directors' report period ended 31 January 2023

The directors present their report with the financial statements of the company for the period ended 31 January 2023

Principal activities of the company

Principal activity of the company during the financial period was of managing community centre



Directors

The director shown below has held office during the period of
19 January 2022 to 31 January 2023

Sheron Cassandra Riley


The director shown below has held office during the whole of the period from
7 January 2022 to 31 January 2023

Tyron Browne


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
4 October 2023

And signed on behalf of the board by:
Name: Tyron Browne
Status: Director

MARCUS GARVEY CENTRE CIC

Profit And Loss Account

for the Period Ended 31 January 2023

13 months to 31 January 2023


£
Turnover: 56,153
Cost of sales: ( 55,368 )
Gross profit(or loss): 785
Administrative expenses: ( 20,472 )
Other operating income: 0
Operating profit(or loss): (19,687)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (19,687)
Tax: 0
Profit(or loss) for the financial year: (19,687)

MARCUS GARVEY CENTRE CIC

Balance sheet

As at 31 January 2023

Notes 13 months to 31 January 2023


£
Creditors: amounts falling due within one year: 3 ( 19,687 )
Net current assets (liabilities): (19,687)
Total assets less current liabilities: (19,687)
Total net assets (liabilities): (19,687)
Members' funds
Profit and loss account: (19,687)
Total members' funds: ( 19,687)

The notes form part of these financial statements

MARCUS GARVEY CENTRE CIC

Balance sheet statements

For the year ending 31 January 2023 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 4 October 2023
and signed on behalf of the board by:

Name: Tyron Browne
Status: Director

The notes form part of these financial statements

MARCUS GARVEY CENTRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

MARCUS GARVEY CENTRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    13 months to 31 January 2023
    Average number of employees during the period 0

MARCUS GARVEY CENTRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Creditors: amounts falling due within one year note

13 months to 31 January 2023
£
Bank loans and overdrafts 1,347
Trade creditors 17,620
Accruals and deferred income 720
Total 19,687

COMMUNITY INTEREST ANNUAL REPORT

MARCUS GARVEY CENTRE CIC

Company Number: 13834686 (England and Wales)

Year Ending: 31 January 2023

Company activities and impact

The company runs Marcus Garvey Centre and Ballroom, which is part of the Lenton Boulevard Business centre. It provides space, facilities, and resources for local communities. It was launched in January 2022 and during the financial year of 2022-2023, the Marcus Garvey Centreactivities entailed working on supporting the local communities with the space in the following ways:- Local residents (particularly those from African and Caribbean backgrounds plus immigrantcommunities) with accessible, suitable, and ideal space to organise, manage and undertake theiractivities free or at highly discounted.- Social and economic growth and wellbeing of local communities by supporting training,awareness raising and health and wellbeing sessions in the centre.- Provided volunteering and internship opportunities for 14 residents.- 3 social events being 1 Windrush and 2 Youth Information and Wellbeing events.- Over 3600 people used the Ballroom over the year in social, cultural and entertainment eventsthat included receptions for funerals, weddings, baptisms and other celebrations.- Ensured the centre is in good quality, meet the legislative requirements and facilitate a range ofactivities for the beneficiaries.

Consultation with stakeholders

The company’s stakeholders are the local communities and those who visit and use the centre, local charities and community organisations, Nottingham City Council, local statutory bodies, and institutions that use the centre and work with the centre. The directors of the company are the directors and leads of companies and charities that use the centre and have been in the centre for several years, while others have managed the centre since 1982. The community centre management model is based on their experience of talking to other users and local communities.All centre users are asked to fill in a short questionnaire about their experience and requirements which has been instrumental in helping us to build up a profile of local communities needs and what we can do to meet them more effectively. Our research, especially that supported by teams from the local universities has enabled us to identify theneed for full refurbishment of the centre, installation of a lift, better access points, and support with better signage, toilets and storage of seats after events and activities. They also proposed the need to approach national charities to help in addressing the financial andoperational demands to address these shortcomings. They identified the centre is operating at 26% its capacity and these refurbishments will increase sustainability, usage, and growth ofthe centre.

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
4 October 2023

And signed on behalf of the board by:
Name: Tyron Browne
Status: Director