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Company limited by guarantee

Company Registration Number:
13171721 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

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Contents of the Financial Statements

for the Period Ended 28 February 2023

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

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Directors' report period ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Additional information

Statement of Director's ResponsibilitiesThe director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financialstatements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Undercompany law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of thecompany and of the surplus or deficit of the company for that period. In preparing the financial statements the director is required to:select suitable accounting policies and then apply them consistently;make judgments and accounting estimates that are reasonable and prudent;prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose withreasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud andother irregularities.The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in theUnited Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.Small Company RulesThis report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of theCompanies Act 2006.



Directors

The director shown below has held office during the whole of the period from
1 March 2022 to 28 February 2023

Sofia Akel


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
21 November 2023

And signed on behalf of the board by:
Name: Sofia Akel
Status: Director

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Profit And Loss Account

for the Period Ended 28 February 2023

2023 13 months to 28 February 2022


£

£
Turnover: 1,951 7,236
Cost of sales: ( 1,377 ) ( 3,465 )
Gross profit(or loss): 574 3,771
Distribution costs: 0 0
Administrative expenses: ( 3,856 ) ( 1,580 )
Other operating income: 0 0
Operating profit(or loss): (3,282) 2,191
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (3,282) 2,191
Tax: 416 ( 416 )
Profit(or loss) for the financial year: (2,866) 1,775

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Balance sheet

As at 28 February 2023

Notes 2023 13 months to 28 February 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,066 0
Investments:   0 0
Total fixed assets: 1,066 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 4,227 6,311
Investments:   0 0
Total current assets: 4,227 6,311
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 6,384 ) ( 4,536 )
Net current assets (liabilities): (2,157) 1,775
Total assets less current liabilities: (1,091) 1,775
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (1,091) 1,775
Members' funds
Profit and loss account: (1,091) 1,775
Total members' funds: ( 1,091) 1,775

The notes form part of these financial statements

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

Name: Sofia Akel
Status: Director

The notes form part of these financial statements

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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

    2.2. TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenueearned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similarallowances.Sale of goodsTurnover from donations and grants is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Thisis usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract ismeasured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extentof recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    2.3. Tangible Fixed Assets and DepreciationTangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at ratescalculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Fixtures & Fittings 4 year straight lineComputer Equipment 4 year straight line

    Other accounting policies

    2.4. TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensiveincome because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. Thecompany's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and thecorresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences.Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will beavailable against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the assetto be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the assetrealised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilitiesare presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect thetax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle thecarrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensiveincome or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equityrespectively.

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Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 13 months to 28 February 2022
    Average number of employees during the period 0 0

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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 £ £ £ £ £ £
At 1 March 2022 0 0 0 0 0 0
Additions 0 0 238 1,184 0 1,422
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 28 February 2023 0 0 238 1,184 0 1,422
Depreciation
At 1 March 2022 0 0 0 0 0 0
Charge for year 0 0 60 296 0 356
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 28 February 2023 0 0 60 296 0 356
Net book value
At 28 February 2023 0 0 178 888 0 1,066
At 28 February 2022 0 0 0 0 0 0

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Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Creditors: amounts falling due within one year note

2023 13 months to 28 February 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 1
Taxation and social security 0 416
Accruals and deferred income 5,760 3,807
Other creditors 624 312
Total 6,384 4,536

COMMUNITY INTEREST ANNUAL REPORT

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Company Number: 13171721 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

This financial year was the second year of operating as a community interest company, the majority of funds spent was used to continue building up the company, with the addition of running a number of events that will enable us to have a more immediate localised impact on our service users. Some of the continued costs included paying for a domain and website, equipment, travel and meetings costs, marketing materials and inventory. This has benefitted our community in the following ways:We worked to get thousands of books out to people who couldn’t afford or access them across the UK and Ireland. Some of which were given directly from by us, or posted by a third party. A number of publishers also donated books and sent them to recipients on our behalf.Our website, marketing materials and social media helped us to spread awareness of our mission, which led to a number of schools, community centres, youth clubs and other community-based organisations receiving books from us for free. These books are given to people of all ages to keep.Additionally, we use our online presence to direct people to new and exciting literature by authors of colour. Part of our mission is to get people reading more books by underrepresented authors. We know that our community expands beyond those who can’t afford to purchase books. As a cultural education CIC it’s vital to us to share the titles that we recommend and help people find new books that they might enjoy and learn from.In this year we launched our festival, which welcomed over 1500+ people to enjoy free events, workshops, refreshments, networking and a chance to get some new books for free to take home. The number of donations increased this year, getting approximately 5,000 books into new homes.

Consultation with stakeholders

No consultation with stakeholders

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
22 November 2023

And signed on behalf of the board by:
Name: Sofia Akel
Status: Director