for the Period Ended 31 December 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2023
Directors
The directors shown below have held office during the whole of the period from
8 December 2022 to 31 December 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
13 months to 31 December 2023 | ||
---|---|---|
| £ | |
Turnover: | | |
Cost of sales: | ( | |
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 | 13 months to 31 December 2023 | ||
---|---|---|---|
| £ | ||
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | ||
Current assets | |||
Cash at bank and in hand: | | ||
Total current assets: | | ||
Creditors: amounts falling due within one year: | 4 | ( | |
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 31 December 2023
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 31 December 2023
13 months to 31 December 2023 | ||
---|---|---|
Average number of employees during the period | |
for the Period Ended 31 December 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
Additions | | | | |||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 December 2023 | | | | |||
Depreciation | ||||||
Charge for year | ||||||
On disposals | ||||||
Other adjustments | ||||||
At 31 December 2023 | ||||||
Net book value | ||||||
At 31 December 2023 | | | |
for the Period Ended 31 December 2023
13 months to 31 December 2023 | ||
---|---|---|
£ | ||
Bank loans and overdrafts | | |
Trade creditors | | |
Taxation and social security | | |
Other creditors | | |
Total | |
During the first twelve months of existence the Directors and Manager of the CIC have worked to develop relationships with surrounding Local Authorities and like minded Charities working with Looked After Children, Children and Families on the Edge of Care Proceedings and the families supporting Looked After Children.The Directors and Manager have also been working through the application process with Ofsted to register the CIC as a Registered Childrens Home. The final inspection in this process with an Ofsted Inspector took place on the 20th of December 2023, with a decision expected in early 2024.The Directors still hope to be able to open the Registered Home shortly after Easter 2024.
Consultation has continued with the Directors of Childrens Services in the Counties of Gloucester, Hereford and Worcester. This has been in the form of Due Diligence Reports and Feedback from all has been positive with the only requirement being the URN from Ofsted. This is subject to the final Inspection that occured on the 20th December 2023.In October 2023 the Directors of the CIC in connection with the consultants involved in the setting up of the CIC were successful in the application to Register "The Adamas Trust" with the charities commission.The Trustees of the charity will now form an advisory board to the Directors and Manager of the CIC.The CIC during consultation with the board of Trustees has agreed to amend the Memorandum and Articles of Association of the CIC to change the designated Charity from the ASHA Foundation to the "The Adamas Trust".Any surplus profit made by the CIC will in future be donated to "The Adamas Trust". This will ensure that any profit made by the CIC is not subject to Corporation Tax and that it is used solely for the purposes championed by the CIC.It has been agreed with the board of Trustees that the CIC will be able to make application to "The Adamas Trust", in any future Grants that it may offer that as long as they are fitting to both the constitution of the Charity and the cause of the CIC. They will not be made for "Core Funding".
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
2 February 2024
And signed on behalf of the board by:
Name: Daniel John Oversby
Status: Director