for the Period Ended 28 February 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 28 February 2023
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023
The directors shown below have held office during the period of
1 March 2022 to 31 January 2023
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
---|---|---|
| £ | £ |
Turnover: | | |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | ( | ( |
Profit(or loss) before tax: | ( | ( |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2023 | 2022 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Cash at bank and in hand: | | | |
Total current assets: | | | |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Provision for liabilities: | ( | ( | |
Total net assets (liabilities): | ( | ( | |
Members' funds | |||
Profit and loss account: | ( | ( | |
Total members' funds: | ( | ( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 28 February 2023
Basis of measurement and preparation
Turnover policy
Other accounting policies
for the Period Ended 28 February 2023
2023 | 2022 | |
---|---|---|
Average number of employees during the period | | |
Latchmere Recreation CIC (LARC CIC) was initially established to allow the voluntary constituted group Friends of Latchmere Recreation Ground to legally be able to enter into a formal contract for a cafe on Latchmere Recreation Ground. The Royal Borough of Kingston Council granted a 5-year head lease to LARC CIC for the kitchen & toilet block, and LARC CIC has a (mirror) sub-lease in place with a cafe operator.As part of the sub-lease, the cafe operator is required to pay a monthly contribution to LARC CIC, which LARC CIC uses to reinvest back into Latchmere Recreation Ground, for the benefit of the community.The cafe commenced trading on 6th November 2021.In this financial year, the incumbent cafe operator requested to terminate the lease early due to personal reasons, so a new cafe operator was appointed.LARC CIC’s principal activities during the reporting period (01/03/22 to 28/02/23) were:Regular engagement with the incumbent cafe operator, including progress meetings, to review cafe performance and agree actions and future initiatives;Developing and running a robust tender process to select a suitable replacement cafe operator;Negotiating terms of the sub-lease with the new cafe operator, including reviewing the payment schedule to LARC CIC, for investment back into Latchmere Rec;Liaising the with the Council’s property and legal teams to revisit the head lease and sub-lease terms, ensuring that the community’s best interests are represented;Managing the LARC CIC bank account and approving expenditure;Preparing end of year reports and accounts as required by Companies House CIC Regulator and HMRC;Working closely with FoLaR as part of LARC CIC’s community activities.
LARC CIC’s community engagement is through the Friends of Latchmere Rec (FoLaR), who are a well-established community group, working to improve Latchmere Rec for all to enjoy. FoLaR regularly engages with the local community through its newsletters, open meetings, noticeboards, events, and consultations – the idea for the cafe arose from community feedback on what people wanted to see on Latchmere Rec.LARC CIC’s principal stakeholders are:FoLaR: LARC CIC activities are discussed at the monthly FoLaR committee meetings – and in between – to keep FoLaR updated on the cafe progress.RBK Council: LARC CIC has fully engaged with the Council to realise the cafe project.Cafe Operator: following the tender process and appointment of a cafe operator, LARC CIC has monthly progress meetings with the operator, with FoLaR represented also.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
26 November 2023
And signed on behalf of the board by:
Name: Saphina Crocker
Status: Director