RALEIGH ENTERPRISES SHOP CIC

Company limited by guarantee

Company Registration Number:
12958122 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

RALEIGH ENTERPRISES SHOP CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

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

RALEIGH ENTERPRISES SHOP CIC

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

The Company runs a gift shop within HMS Raleigh. It sells goods to personnel within the establishment and also has an online presence selling goods to families of recruits and other individuals who have links with Raleigh. The business continues to have to grow its position within the establishment and has acquired some new machinery over the year to improve it's offer and maintain profits. It has also worked with a new main supplier of clothing to improve the quality and range on offer. Over the year there has been a significant drop in recruits going through the establishment which has had a significant effect on sales and profit. It is expected that improved recruiting in the next financial year will arrest this slump. However, the business has still managed to donate to the establishment charities which has benefitted the overall lived experience of the personnel.

Political and charitable donations

The CIC made donations of £10312 in the year to the HMS Raleigh Central Fund and the WO&SR Officer's Mess



Directors

The directors shown below have held office during the whole of the period from
1 November 2022 to 31 October 2023

Sean Brady
Andrew Driver
Sarah Blake


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
12 February 2024

And signed on behalf of the board by:
Name: Sean Brady
Status: Director

RALEIGH ENTERPRISES SHOP CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 184,312 191,613
Cost of sales: ( 130,978 ) ( 120,637 )
Gross profit(or loss): 53,334 70,976
Administrative expenses: ( 52,595 ) ( 59,712 )
Other operating income: 6,266
Operating profit(or loss): 739 17,530
Profit(or loss) before tax: 739 17,530
Profit(or loss) for the financial year: 739 17,530

RALEIGH ENTERPRISES SHOP CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,025 441
Total fixed assets: 1,025 441
Current assets
Stocks: 4 528
Debtors: 5 5,990
Cash at bank and in hand: 36,351 34,776
Total current assets: 36,879 40,766
Creditors: amounts falling due within one year: 6 ( 10,247 ) ( 14,278 )
Net current assets (liabilities): 26,632 26,488
Total assets less current liabilities: 27,657 26,929
Total net assets (liabilities): 27,657 26,929
Members' funds
Profit and loss account: 27,657 26,929
Total members' funds: 27,657 26,929

The notes form part of these financial statements

RALEIGH ENTERPRISES SHOP CIC

Balance sheet statements

For the year ending 31 October 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 12 February 2024
and signed on behalf of the board by:

Name: Sean Brady
Status: Director

The notes form part of these financial statements

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 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

    Tangible fixed assets depreciation policy

    Computer Equipment is depreciated at 20% per annum on a straight line basis. Office Equipment is depreciated at 10% per annum over a lifespan 10 years.

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 178 333 511
Additions 782 782
Disposals
Revaluations
Transfers
At 31 October 2023 960 333 1,293
Depreciation
At 1 November 2022 3 67 70
Charge for year 131 67 198
On disposals
Other adjustments
At 31 October 2023 134 134 268
Net book value
At 31 October 2023 826 199 1,025
At 31 October 2022 175 266 441

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Stocks

2023 2022
£ £
Stocks 528
Total 528

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Debtors

2023 2022
£ £
Trade debtors 5,990
Total   5,990

RALEIGH ENTERPRISES SHOP CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 10,247 5,573
Taxation and social security 8,648
Other creditors 57
Total 10,247 14,278

COMMUNITY INTEREST ANNUAL REPORT

RALEIGH ENTERPRISES SHOP CIC

Company Number: 12958122 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

The Company runs a gift shop within HMS Raleigh. It sells goods to personnel within the establishment and also has an online presence selling goods to families of recruits and other individuals who have links with Raleigh. The business continues to have to grow its position within the establishment and has acquired some new machinery over the year to improve it's offer and maintain profits. It has also worked with a new main supplier of clothing to improve the quality and range on offer. Over the year there has been a significant drop in recruits going through the establishment which has had a significant effect on sales and profit. It isexpected that improved recruiting in the next financial year will arrest this slump. However, the business has still managed to donate to the establishment charities which has benefitted the overall lived experience of the personnel.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

One director is responsible for the full day to day running of the gift shop.Her annual salary renumeration was £25344. There are no other transactions in connection with the renumeration of the director's.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 February 2024

And signed on behalf of the board by:
Name: Sean Brady
Status: Director