OPTIMISTIC FOUNDATION CIC

Company limited by guarantee

Company Registration Number:
11337743 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

OPTIMISTIC FOUNDATION CIC

Contents of the Financial Statements

for the Period Ended 30 April 2023

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

OPTIMISTIC FOUNDATION CIC

Profit And Loss Account

for the Period Ended 30 April 2023

2023 2022


£

£
Turnover: 205,824 61,706
Cost of sales: ( 94,040 ) ( 33,711 )
Gross profit(or loss): 111,784 27,995
Administrative expenses: ( 105,677 ) ( 36,908 )
Operating profit(or loss): 6,107 (8,913)
Interest payable and similar charges: ( 4,209 ) ( 2,063 )
Profit(or loss) before tax: 1,898 (10,976)
Tax: 845
Profit(or loss) for the financial year: 1,898 (10,131)

OPTIMISTIC FOUNDATION CIC

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 7,683 9,075
Total fixed assets: 7,683 9,075
Current assets
Debtors: 4 30,323 32,387
Cash at bank and in hand: 120,170 4,049
Total current assets: 150,493 36,436
Creditors: amounts falling due within one year: 5 ( 158,791 ) ( 48,024 )
Net current assets (liabilities): (8,298) (11,588)
Total assets less current liabilities: (615) ( 2,513)
Total net assets (liabilities): (615) (2,513)
Members' funds
Profit and loss account: (615) ( 2,513)
Total members' funds: ( 615) (2,513)

The notes form part of these financial statements

OPTIMISTIC FOUNDATION CIC

Balance sheet statements

For the year ending 30 April 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 29 November 2023
and signed on behalf of the board by:

Name: Daniel Edelstyn
Status: Director

The notes form part of these financial statements

OPTIMISTIC FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 30 April 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and services, and grant and donated income.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Plant & Machinery - 5 and 10 year straight lineFixtures & Fittings - 20 year straight line

    Other accounting policies

    Income tax expense represents the sum of the tax currently payable.The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

OPTIMISTIC FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

OPTIMISTIC FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2022 10,246 1,300 11,546
Additions 337 337
Disposals
Revaluations
Transfers
At 30 April 2023 10,583 1,300 11,883
Depreciation
At 1 May 2022 2,417 54 2,471
Charge for year 1,664 65 1,729
On disposals
Other adjustments
At 30 April 2023 4,081 119 4,200
Net book value
At 30 April 2023 6,502 1,181 7,683
At 30 April 2022 7,829 1,246 9,075

OPTIMISTIC FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Debtors

2023 2022
£ £
Trade debtors 4,630 2,660
Prepayments and accrued income 2,236 1,394
Other debtors 23,457 28,333
Total 30,323 32,387

OPTIMISTIC FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 4,527 954
Accruals and deferred income 106,144 19,919
Other creditors 48,120 27,151
Total 158,791 48,024

COMMUNITY INTEREST ANNUAL REPORT

OPTIMISTIC FOUNDATION CIC

Company Number: 11337743 (England and Wales)

Year Ending: 30 April 2023

Company activities and impact

We raised £100,000 by sleeping on our roof for 23 nights in Nov / Dec 2022 to help get panels on the first 20 houses on our street. Also made a music video with the kids from Barn Croft school, made a bid for Christmas no 1, peaking at no. 23 - and raised £50,000 to help get panels on the school. We have carried on making our film Power Station and engaged 20,000 people in our membership events, blogs and emails.We got the story of renewable energy out far and wide this year, including the front cover of the Observer Magazine.

Consultation with stakeholders

We had no formal consultations – but rather an informal series of conversations.

Directors' remuneration

Daniel Edelstyn, £20,000Hilary Powell, £20,000

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Daniel Edelstyn
Status: Director