WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Company Registration Number:
09677398 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2023

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

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2023

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

Additional information

In February 2023 WALT, with great support from Medway Council, paid off the final instalment of the interest-bearing six- year loan from DERIC. This step allows the organisation to move forward and begin a change management process that will ensure WALT continues to provide valued services to those on the edge of care who are often socially isolated, lonely and vulnerable- particularly in the current cost of living and energy crisis.In 2022/23 we have begun to strengthen our governance structures by strengthening the Board of Directors and taking steps to explore setting up WALT as a Charitable Incorporated Organisation to help further our core purpose and objectives. To this end Bill Ronan, our Chair, stepped down this year after helping see the organisation through the COVID pandemic when the true value of WALT and other voluntary and community-based organisations was most vividly displayed. The new Board has now agreed a recovery and transformation plan that, with the continuing support of Medway Council, Kent Community Foundation and other funders will see a re-branded and re-organised WALT build better relationships with organisations across ME5, develop and communicate its unique offer with beneficiaries and stakeholders and reach more people in most need of connection, support and help to live better lives.WALT is hugely dependent on the quality and commitment of its professional staff- Ruth Hardy and Rebecca Bentham- as well as the committed team of volunteers who make things happen and contribute so much of their time and energy in the process. The directors thank each and everyone of them- without them WALT would not reach the 200 people we are in direct contact with in one way or another.2022-23 has been another challenging year but there is no doubt about the need for the sort of quality services and interactions that organisations like WALT provide on the ground. Our focus now is on creating a sustainable service model which demonstrates impact and value for money so that we do more of the things we are good at in the future.



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

W Ronan
G M Waters
A A West
P G Woods
P Brivio
D Routledge


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
3 September 2023

And signed on behalf of the board by:
Name: P Brivio
Status: Director

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 75,668 93,934
Cost of sales: ( 37,948 ) ( 46,475 )
Gross profit(or loss): 37,720 47,459
Distribution costs: ( 692 ) ( 1,377 )
Administrative expenses: ( 13,532 ) ( 18,984 )
Other operating income: 6,170
Operating profit(or loss): 29,666 27,098
Interest receivable and similar income: 48
Interest payable and similar charges: ( 541 ) ( 997 )
Profit(or loss) before tax: 29,173 26,101
Profit(or loss) for the financial year: 29,173 26,101

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 14,517 39,784
Total current assets: 14,517 39,784
Creditors: amounts falling due within one year: 3 ( 2,293 ) ( 56,733 )
Net current assets (liabilities): 12,224 (16,949)
Total assets less current liabilities: 12,224 ( 16,949)
Total net assets (liabilities): 12,224 (16,949)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 12,223 (16,950 )
Total Shareholders' funds: 12,224 (16,949)

The notes form part of these financial statements

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 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 27 September 2023
and signed on behalf of the board by:

Name: D Routledge
Status: Director

The notes form part of these financial statements

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

    Other accounting policies

    Basis of preparationThe financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.Going concernThese accounts have been prepared on the going concern basis.TaxationThe company is a not-for-profit organisation.Government grantsGovernment grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.Financial instrumentsThe Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 28,743
Trade creditors 387
Taxation and social security 586
Other creditors 1,707 27,603
Total 2,293 56,733

COMMUNITY INTEREST ANNUAL REPORT

WALDERSLADE TOGETHER COMMUNITY INTEREST COMPANY

Company Number: 09677398 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

Walderslade Together CIC continues to deliver services and activities that reduce the experience of loneliness and isolation in the ME5 district of Medway. Through social prescribing support, befriending, social connections and volunteering opportunities. The use of digital inclusion projects and training, residents are helped to be empowered and independent, and can actively engage with services and support networks.

Consultation with stakeholders

Waldersale Together CIC undertakes evaluation and consultation work with all users and the wider community. Using national indicators and metrics the project monitors and evaluates its social value. A user panel also acts as a critical friend to help ensure services are meeting the needs of residents. The use of face to face and online consultations, including monitoring by the local authority and funders, means wider engagement with stakeholders is integrated in to the ongoing quality assurance process.

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
9 October 2023

And signed on behalf of the board by:
Name: D ROUTLEDGE
Status: Director