WOMEN'S ENTERPRISE SCOTLAND CIC

Company limited by guarantee

Company Registration Number:
SC406892 (Scotland)

Unaudited statutory accounts for the year ended 30 September 2023

Period of accounts

Start date: 1 October 2022

End date: 30 September 2023

WOMEN'S ENTERPRISE SCOTLAND CIC

Contents of the Financial Statements

for the Period Ended 30 September 2023

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

WOMEN'S ENTERPRISE SCOTLAND CIC

Directors' report period ended 30 September 2023

The directors present their report with the financial statements of the company for the period ended 30 September 2023

Principal activities of the company

The principal activity of the company continued to be that of the promotion and influence of the development ofwomen's business ownership and economic empowerment of women in Scotland.



Directors

The directors shown below have held office during the whole of the period from
1 October 2022 to 30 September 2023

K T Rooney
A F Meikle
C English
C M Currie
B R Clarke
L Cadenhead


The director shown below has held office during the period of
1 October 2022 to 8 March 2023

Professor S Carter


The director shown below has held office during the period of
20 February 2023 to 30 September 2023

E J Ditchburn


The director shown below has held office during the period of
14 December 2022 to 30 September 2023

Y C Hopkins


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
1 March 2024

And signed on behalf of the board by:
Name: L Cadenhead
Status: Director

WOMEN'S ENTERPRISE SCOTLAND CIC

Profit And Loss Account

for the Period Ended 30 September 2023

2023 2022


£

£
Turnover: 54,018 69,739
Cost of sales: ( 46,597 ) ( 4,148 )
Gross profit(or loss): 7,421 65,591
Administrative expenses: ( 185,367 ) ( 218,814 )
Other operating income: 178,465 169,826
Operating profit(or loss): 519 16,603
Profit(or loss) before tax: 519 16,603
Tax: ( 110 ) 0
Profit(or loss) for the financial year: 409 16,603

WOMEN'S ENTERPRISE SCOTLAND CIC

Balance sheet

As at 30 September 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 8,625 0
Cash at bank and in hand: 36,226 48,688
Total current assets: 44,851 48,688
Creditors: amounts falling due within one year: 4 ( 28,808 ) ( 33,054 )
Net current assets (liabilities): 16,043 15,634
Total assets less current liabilities: 16,043 15,634
Total net assets (liabilities): 16,043 15,634
Members' funds
Profit and loss account: 16,043 15,634
Total members' funds: 16,043 15,634

The notes form part of these financial statements

WOMEN'S ENTERPRISE SCOTLAND CIC

Balance sheet statements

For the year ending 30 September 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 1 March 2024
and signed on behalf of the board by:

Name: L Cadenhead
Status: Director

The notes form part of these financial statements

WOMEN'S ENTERPRISE SCOTLAND CIC

Notes to the Financial Statements

for the Period Ended 30 September 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Other accounting policies

    Government grantsGovernment grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

WOMEN'S ENTERPRISE SCOTLAND CIC

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 8 8

WOMEN'S ENTERPRISE SCOTLAND CIC

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Debtors

2023 2022
£ £
Trade debtors 5,640 0
Other debtors 2,985 0
Total 8,625 0

WOMEN'S ENTERPRISE SCOTLAND CIC

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 110 4,017
Other creditors 28,698 29,037
Total 28,808 33,054

COMMUNITY INTEREST ANNUAL REPORT

WOMEN'S ENTERPRISE SCOTLAND CIC

Company Number: SC406892 (Scotland)

Year Ending: 30 September 2023

Company activities and impact

Women's Enterprise Scotland (WES) was formed to promote and influence the development of women's business ownership and the economic empowerment of women in Scotland.In the year 2022/23, WES has continued to influence the delivery of support for women-owned businesses. WES plays a key role in ensuring that the enterprise ecosystem is aware of gender inequality issues and the economic and moral imperative of encouraging more women to start and grow businesses. WES has further expanded its digital women's business centre by developing and piloting a women-only crowdfunding platform, held an annual awards dinner and supported women business owners with leadership programmes regionally and nationally. The Ambassadors programme continues to promote women business owners as role models in the media and multiple other platforms.WES influences developments across the UK through its policy briefings, provides the secretarial for the CPG at Scottish Government, contributes to the work of the APPG on Women's Enterprise in Westminster and is a founding member of WEPG in UK and WEGate in Europe. It has partnered with a range of organisations in public, private and third sectors to progress the women's enterprise agenda in many countries.

Consultation with stakeholders

The company's primary stakeholders are women business owners, aspiring or existing.The company's secondary stakeholders are the Scottish Government and the range of organisations which comprise the 'enterprise ecosystem' in Scotland, including but not limited to IoD, FSB, Prosper, DTAS, banks, universities and colleges, business angel groups, trade organisations such as Angel Capital Scotland and the Scottish Tourism Alliance, and other women's networks.Consultation with both key groups is ongoing and also takes place with key public sector stakeholders such as Scottish Enterprise, Highlands and Islands Enterprise, South of Scotland Enterprise and Business Gateway. The outcome of these consultations is an enhanced digital women's business centre. Regular surveys and one-on-one consultations are carried out with women business owners and WES Ambassadors.

Directors' remuneration

There are two remunerated directors. Total remuneration for the year is reported in the accounts. There were 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
1 March 2024

And signed on behalf of the board by:
Name: LYNNE CADENHEAD
Status: Director