POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Company limited by guarantee

Company Registration Number:
07873537 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2022

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

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

Operation of a community cafe



Directors

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

Matthew J Crome
Claire Crome
Gareth White
Craig Nowell


The director shown below has held office during the period of
1 January 2022 to 15 August 2022

Chris Ditton


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 November 2023

And signed on behalf of the board by:
Name: Matthew J Crome
Status: Director

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 288,592 215,065
Gross profit(or loss): 288,592 215,065
Administrative expenses: ( 310,978 ) ( 211,786 )
Other operating income: 10,759 24,374
Operating profit(or loss): (11,627) 27,653
Profit(or loss) before tax: (11,627) 27,653
Profit(or loss) for the financial year: (11,627) 27,653

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 21,170 10,623
Total fixed assets: 21,170 10,623
Current assets
Stocks: 4 3,000 0
Debtors: 5 2,528 4,272
Cash at bank and in hand: 41,965 58,151
Total current assets: 47,493 62,423
Creditors: amounts falling due within one year: 6 ( 17,106 ) ( 9,863 )
Net current assets (liabilities): 30,387 52,560
Total assets less current liabilities: 51,557 63,183
Total net assets (liabilities): 51,557 63,183
Members' funds
Profit and loss account: 51,557 63,183
Total members' funds: 51,557 63,183

The notes form part of these financial statements

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

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 3 November 2023
and signed on behalf of the board by:

Name: Matthew J Crome
Status: Director

The notes form part of these financial statements

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

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

    Expenditure is capitalised if the asset has a useful life of more than 1 year and it's cost exceeds £200.

    Other accounting policies

    2.1 Incoming resourcesAll incoming resources are included in the statement of financial activities when the Company is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the Company where this can be quantified and a third party is bearing the cost. Income from trading activities includes VAT. The value of services provided by volunteers has not been included. Tax Reclaims are included in the SoFA at the same time as the gift to which they relate. Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable. Income from investments is included in the year in which it is receivable. Legacies are included when the Company is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified. 2.2 Resources expendedExpenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Resources expended are recognised in the year in which they are incurred. Support costs are those costs incurred directly in support of expenditure on the objects of the Company and include project management. 2.4 StocksThese are valued at the lower of cost and market value.

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 9 7

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

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 45,443 45,443
Additions 16,433 16,433
Disposals ( 12,199 ) ( 12,199 )
Revaluations
Transfers
At 31 December 2022 49,677 49,677
Depreciation
At 1 January 2022 34,820 34,820
Charge for year 5,886 5,886
On disposals ( 12,199 ) ( 12,199 )
Other adjustments
At 31 December 2022 28,507 28,507
Net book value
At 31 December 2022 21,170 21,170
At 31 December 2021 10,623 10,623

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Stocks

2022 2021
£ £
Stocks 3,000 0
Total 3,000 0

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors

2022 2021
£ £
Trade debtors 128 2,272
Other debtors 2,400 2,000
Total 2,528 4,272
Debtors due after more than one year: 0 0

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 0 0
Trade creditors 2,209 2,770
Taxation and social security 1,940 0
Accruals and deferred income 1,220 765
Other creditors 11,737 6,328
Total 17,106 9,863

COMMUNITY INTEREST ANNUAL REPORT

POVERTY TO PURPOSE CHRISTIAN VENTURE C.I.C.

Company Number: 07873537 (England and Wales)

Year Ending: 31 December 2022

Company activities and impact

Poverty to Purpose 2022 year was very much about rebuild, recover and reinvest.After investing into the kitchen area, we have been able to expand our kitchen team and offer more training opportunities for future chef's. Square Peg continues to be the heart beat of Swansea, building community through connections space and friendly staff.We continue to offer local employment with the equivalent of 7 Full time staff. Offering career paths and training opportunities. Over 30 barista spaces where opened up to those not in employment to develop education, experience and certification in barista skills. Many of those who were trained had the opportunity to do work experience in the coffee shop. Community links have gained momentum and a higher footfall has seen us connect with a broader community than previous years. We continue to Love the community we are in and offer a space to feel at home and tackle loneliness. A reduction in food miles has helped us build some exciting local supplier relationships that we forecast to strengthen into 2023.We continue to rebuild, recover and reinvest.

Consultation with stakeholders

Local community – constant monitoring and feedback on the projectCustomers – Feedback is provided on a rolling basisLocal charities – Financial support has dwindled since covid, and we are looking to build to a better profit margin in the future.

Directors' remuneration

The director Claire Crome was employed by the company and paid for her work in the cafe as shop manager. Expenses of £105 also were reimbursed to this director during the year for costs incurred on behalf of the organisation. No payments were made to any of the directors for their role as a director.There were no other transactions or arrangements in connection with remuneration of directors, or compensation for director's loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Matthew Crome
Status: Director