PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
11383671 (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

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 May 2023

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

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Directors' report period ended 31 May 2023

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

Principal activities of the company

The company's principal activity during the year continued to be that of Providing counselling and mentoring services to children, adolescents, adults and families to the local community of Enfield, Barnet and surrounding areas.



Directors

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

M Johnson-Jones
D Bennett
D C Bullen


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
28 February 2024

And signed on behalf of the board by:
Name: M Johnson-Jones
Status: Director

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 May 2023

2023 2022


£

£
Turnover: 42,532 29,108
Cost of sales: ( 9,465 ) ( 11,433 )
Gross profit(or loss): 33,067 17,675
Administrative expenses: ( 31,384 ) ( 16,555 )
Operating profit(or loss): 1,683 1,120
Profit(or loss) before tax: 1,683 1,120
Tax: ( 364 ) ( 257 )
Profit(or loss) for the financial year: 1,319 863

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 May 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 372 606
Total fixed assets: 372 606
Current assets
Debtors: 4 4,690
Cash at bank and in hand: 10,611 3,042
Total current assets: 15,301 3,042
Creditors: amounts falling due within one year: 5 ( 11,912 ) ( 1,206 )
Net current assets (liabilities): 3,389 1,836
Total assets less current liabilities: 3,761 2,442
Total net assets (liabilities): 3,761 2,442
Members' funds
Profit and loss account: 3,761 2,442
Total members' funds: 3,761 2,442

The notes form part of these financial statements

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

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.

This report was approved by the board of directors on 28 February 2024
and signed on behalf of the board by:

Name: M Johnson-Jones
Status: Director

The notes form part of these financial statements

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

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

    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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.

    Other accounting policies

    Debtors short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation a current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Pensions contributions to defined contribution plans are expensed in the period to which they relate.

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

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 1,174 1,174
Additions
Disposals
Revaluations
Transfers
At 31 May 2023 1,174 1,174
Depreciation
At 1 June 2022 568 568
Charge for year 234 234
On disposals
Other adjustments
At 31 May 2023 802 802
Net book value
At 31 May 2023 372 372
At 31 May 2022 606 606

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Debtors

2023 2022
£ £
Trade debtors 4,690
Total 4,690

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 264 426
Other creditors 11,648 780
Total 11,912 1,206

COMMUNITY INTEREST ANNUAL REPORT

PRECIOUS COUNSELLING AND MENTORING COMMUNITY INTEREST COMPANY

Company Number: 11383671 (England and Wales)

Year Ending: 31 May 2023

Company activities and impact

The company's principal activity during the year continued to be that of Providing counselling and mentoring services to children, adolescents, adults and families to the local community of Enfield, Barnet and surrounding areas.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £4200. There ware no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: M Johnson-Jones
Status: Director