REHOBOTH WELL CIC

Company limited by guarantee

Company Registration Number:
13885967 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 February 2022

End date: 28 February 2023

REHOBOTH WELL CIC

Contents of the Financial Statements

for the Period Ended 28 February 2023

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

REHOBOTH WELL CIC

Profit And Loss Account

for the Period Ended 28 February 2023

13 months to 28 February 2023


£
Turnover: 38,711
Cost of sales: ( 6,950 )
Gross profit(or loss): 31,761
Administrative expenses: ( 1,925 )
Operating profit(or loss): 29,836
Interest payable and similar charges: ( 5,094 )
Profit(or loss) before tax: 24,742
Profit(or loss) for the financial year: 24,742

REHOBOTH WELL CIC

Balance sheet

As at 28 February 2023

Notes 13 months to 28 February 2023


£
Fixed assets
Tangible assets: 3 2,978
Total fixed assets: 2,978
Current assets
Cash at bank and in hand: 26,858
Total current assets: 26,858
Creditors: amounts falling due within one year: 4 ( 5,094 )
Net current assets (liabilities): 21,764
Total assets less current liabilities: 24,742
Total net assets (liabilities): 24,742
Members' funds
Profit and loss account: 24,742
Total members' funds: 24,742

The notes form part of these financial statements

REHOBOTH WELL CIC

Balance sheet statements

For the year ending 28 February 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 1 November 2023
and signed on behalf of the board by:

Name: Lee Palmer
Status: Director

The notes form part of these financial statements

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 28 February 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 fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companies activities. Turn over is shown net of sales/value added tax, returns, rebates and discounts.The company recognizes revenue when: The amount of revenue can be reliably measured;It is probable that the future economic benefits will flow to the entity;and specific criteria have been met for each of the companies activities.

    Tangible fixed assets depreciation policy

    Tangible assests are stated in the balance sheets at cost, less any subsequent accumulated depreciation and subsequent accumulated losses. the cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

    Other accounting policies

    DepreciationDepreciation is charged as to write off assets, other than land and properties under construction over their estimated useful lives.cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change and value.

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    13 months to 28 February 2023
    Average number of employees during the period 1

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 3,722 3,722
Disposals
Revaluations
Transfers
At 28 February 2023 3,722 3,722
Depreciation
Charge for year 744 744
On disposals
Other adjustments
At 28 February 2023 744 744
Net book value
At 28 February 2023 2,978 2,978

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Creditors: amounts falling due within one year note

13 months to 28 February 2023
£
Taxation and social security 5,094
Total 5,094

COMMUNITY INTEREST ANNUAL REPORT

REHOBOTH WELL CIC

Company Number: 13885967 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

In the financial year the company has benefited the community by bringing 3 vibrant shops into a deprived town. The community have benefited by having access to donated good quality preloved clothing at very affordable prices. The financial crisis has had a huge impact on the community and many have turned to preloved goods to provide for their family.We also provide donated furniture which we up cycle and re purpose through a volunteer led project. This helps to reduce furniture going to landfill and encouraging people to repurpose and upcycle their own items of furniture.Rehoboth Well CIC provides opportunities for the community to get involved on many different levels through different volunteering roles which help to provide empolyability skills. Also, many agencies refer people in need to us, such as, families in need, women escaping domestic violence, people who are vulnerable and also the homeless. We are able, through agency referal, to supply free items of clothing, furniture and household items to those in need. We work with Stoke on Trent city council, Port Vale foundation and other smaller charities to met the needs in the community. Service users also have the opportunity to volunteer and develop the ability to give back, building self esteem, confidence and transferable skills. In one of the shops we provide, small group sessions and support.Both Agencies and community express their appreciation for the work we do.

Consultation with stakeholders

When we first set up the CIC we held an open day, where we encourage stakeholders to fill in a questionnaire to gleen information on how they would use our services. Using this we have fulfilled many of the requests. We often ask our customers if they are happy with the service.We use social media to engage with our community and feedback is always encouraged.Agencies often give feedback and recommend us to other agencies.

Directors' remuneration

Director Lydia Palmer receives a net pay £1376.36 per month

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
1 November 2023

And signed on behalf of the board by:
Name: Lee Palmer
Status: Director