KARMA SEAS CIC

Company limited by guarantee

Company Registration Number:
11993842 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 1 June 2022

End date: 31 May 2023

KARMA SEAS CIC

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

KARMA SEAS CIC

Balance sheet

As at 31 May 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 6,426 12,423
Total fixed assets: 6,426 12,423
Current assets
Cash at bank and in hand: 5,649 14,273
Total current assets: 5,649 14,273
Creditors: amounts falling due within one year: 4 ( 312 ) ( 312 )
Net current assets (liabilities): 5,337 13,961
Total assets less current liabilities: 11,763 26,384
Total net assets (liabilities): 11,763 26,384
Members' funds
Profit and loss account: 11,763 26,384
Total members' funds: 11,763 26,384

The notes form part of these financial statements

KARMA SEAS CIC

Balance sheet statements

For the year ending 31 May 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 6 February 2024
and signed on behalf of the board by:

Name: julia thomas
Status: Director

The notes form part of these financial statements

KARMA SEAS CIC

Notes to the Financial Statements

for the Period Ended 31 May 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

KARMA SEAS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

KARMA SEAS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2022 11,949 474 12,423
Additions 1,408 1,408
Disposals
Revaluations
Transfers
At 31 May 2023 13,357 474 13,831
Depreciation
At 1 June 2022 0 0 0
Charge for year 7,168 237 7,405
On disposals
Other adjustments
At 31 May 2023 7,168 237 7,405
Net book value
At 31 May 2023 6,189 237 6,426
At 31 May 2022 11,949 474 12,423

KARMA SEAS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 312 312
Total 312 312

COMMUNITY INTEREST ANNUAL REPORT

KARMA SEAS CIC

Company Number: 11993842 (England and Wales)

Year Ending: 31 May 2023

Company activities and impact

Karma Seas CIC was set up in May 2019 in response to a lack of diversity and inclusion in sports. In particular disabled children and adults, older people, women and girls, the LGBT+ community and socially/economically disadvantaged people lack opportunities to participate in the health & fitness activities which improve mental well-being and social connectedness. Typically, adults with a learning disability spend less than one hour outside their home on a weekend, and older people, ethnic minorities, LGBT+ people and economically deprived people suffer increased levels of isolation and exclusion. We aim to continue to provide opportunities and participation in group sport and water-based therapy by providing affordable, adaptive and inclusive surfing, open water safety skills, yoga and mindfulness.By engaging with local individuals, groups and charities we have continued to offer affordable and accessible surf therapy, yoga and mindfulness to a wide range of people in the community who could previously not access the therapeutic and social benefits of participation. We have reached people of all ages, abilities and backgrounds and been able to offer access to activity which has proven benefits to physical and mental wellbeing, building social connectedness and friendships. Through our activities we have also engaged with people who benefit from volunteering – gaining new social and employability skills, training and developing a network of friends, feeling more integrated with their community regardless of varying abilities and developing competence and confidence alongside the knowledge they are now able to help people and add value to their community. Our main challenges were to reach the people who have the most to benefit from participating and volunteering with us, to secure good quality sports and safety equipment including adapted equipment to enable as many people as possible to participate, which has been achieved through working with local voluntary organisations, charities and groups, as well as targeting our media exposure to reach people who may not already be part of such a group.

Consultation with stakeholders

Feedback from stakeholders provided insight into the outcomes from the sessions we have run. All feedback from projects has been positive and we collated feedback using questionnaires, emails, letters and social media messages. The positive impacts reported by stakeholders, particularly given the introduction of more specialized equipment such as the seated board, included improved access and connectedness within grass roots sports and the local community, improved physical health, fitness and mental wellbeing, improved confidence to try new activities and engage with other people, feeling included and part of a group, being able to participate in activities they never thought they would be able to. People previously isolated and excluded from sport could now take part in a fully inclusive, affordable group in the local community, make friends locally, become healthier and fitter, have something to look forward to, feel like they have new opportunities and confidence to try other things, improved sleep, coordination and anxiety levels, feel more equal to other people accessing mainstream sporting activities.

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
4 February 2024

And signed on behalf of the board by:
Name: julia thomas
Status: Director