COMMUNITIES INC. CIC

Company limited by guarantee

Company Registration Number:
07492776 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

COMMUNITIES INC. 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

COMMUNITIES INC. 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

Directors

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

MICHAEL HENRY
SHAMSHER CHOHAN
PHILIP JOHN McCAULEY


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
24 October 2023

And signed on behalf of the board by:
Name: MICHAEL HENRY
Status: Director

COMMUNITIES INC. CIC

Profit And Loss Account

for the Period Ended 31 January 2023

2023 2022


£

£
Turnover: 218,214 269,090
Cost of sales: ( 45,326 )
Gross profit(or loss): 218,214 223,764
Administrative expenses: ( 214,043 ) ( 220,135 )
Operating profit(or loss): 4,171 3,629
Profit(or loss) before tax: 4,171 3,629
Tax: ( 792 ) ( 689 )
Profit(or loss) for the financial year: 3,379 2,940

COMMUNITIES INC. CIC

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 69,127 71,645
Total current assets: 69,127 71,645
Creditors: amounts falling due within one year: 3 ( 792 ) ( 689 )
Net current assets (liabilities): 68,335 70,956
Total assets less current liabilities: 68,335 70,956
Creditors: amounts falling due after more than one year: 4 ( 44,000 ) ( 50,000 )
Total net assets (liabilities): 24,335 20,956
Members' funds
Profit and loss account: 24,335 20,956
Total members' funds: 24,335 20,956

The notes form part of these financial statements

COMMUNITIES INC. 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 24 October 2023
and signed on behalf of the board by:

Name: MICHAEL HENRY
Status: Director

The notes form part of these financial statements

COMMUNITIES INC. 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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

COMMUNITIES INC. CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 5 5

COMMUNITIES INC. CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 792 689
Total 792 689

COMMUNITIES INC. CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

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

2023 2022
£ £
Bank loans and overdrafts 44,000 50,000
Total 44,000 50,000

COMMUNITY INTEREST ANNUAL REPORT

COMMUNITIES INC. CIC

Company Number: 07492776 (England and Wales)

Year Ending: 31 January 2023

Company activities and impact

The last year has seen a number of key developments for our business:We began the process of taking actions to improve our sustainability by taking onboard aconsultant and securing funds to allow us to be ready to bid for significant social investment.To attract this, we have been supported by a team of commissioned consultants who havelooked at marketing, finance, intellectual property and business development. Theirassessments (and reports) will be provided to potential social investors in Oct/Nov 2023. If weare successful, this will greatly improve our sustainability and make us less reliant on grants.Having said that, we received more Big Lottery funding and launched ‘Rebuilding StrongerCommunities’ in April 2023 which supports communities (individuals and organisations) totake actions that break down barriers and improve community cohesion. Following a series ofhigh-profile murders in Nottingham, the work of this project has been at the forefront of city’sattempts to maintain cohesive communities.In terms of sustainability, we have seen the largest rise in the amount of income generated bypaying customers.We have been in talks with a nation BAME organisation about us becoming one of 12 national‘hubs’ to support the development of small, frontline BAME organisations by building theircapacity in key areas of business.For more details of our work during the last year please go to www.communitiesinc.org.uk

Consultation with stakeholders

As stated in previous CIC 34’s, we continue to be led by our stakeholders. Few of our many projects and programmes are delivered solely by us and most of them involve us working in partnership with a least one partner. Our largest project ‘Rebuilding Stronger Communities’ is externally evaluated by Montgomery Masters (a local consultancy firm) and they interview key stakeholders to determine the effectiveness of our relationships and the impact of our work. The feedback received has been extremely positive

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
24 October 2023

And signed on behalf of the board by:
Name: Michael Henry
Status: Director