THRIVING SPACES CIC

Company limited by guarantee

Company Registration Number:
12518586 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

THRIVING SPACES CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

THRIVING SPACES CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 5,428 21,362
Cost of sales: ( 2,163 ) ( 4,708 )
Gross profit(or loss): 3,265 16,654
Administrative expenses: ( 163,082 ) ( 141,710 )
Other operating income: 160,342 125,482
Operating profit(or loss): 525 426
Profit(or loss) before tax: 525 426
Profit(or loss) for the financial year: 525 426

THRIVING SPACES CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 10,561 11,535
Total fixed assets: 10,561 11,535
Current assets
Cash at bank and in hand: 28,635 36,977
Total current assets: 28,635 36,977
Creditors: amounts falling due within one year: 4 ( 3,157 ) ( 4,985 )
Net current assets (liabilities): 25,478 31,992
Total assets less current liabilities: 36,039 43,527
Accruals and deferred income: ( 26,000 ) ( 34,013 )
Total net assets (liabilities): 10,039 9,514
Members' funds
Profit and loss account: 10,039 9,514
Total members' funds: 10,039 9,514

The notes form part of these financial statements

THRIVING SPACES CIC

Balance sheet statements

For the year ending 31 March 2024 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 9 April 2024
and signed on behalf of the board by:

Name: Sara Lawton
Status: Director

The notes form part of these financial statements

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 21,395 21,395
Additions 4,131 4,131
Disposals
Revaluations
Transfers
At 31 March 2024 25,526 25,526
Depreciation
At 1 April 2023 9,860 9,860
Charge for year 5,105 5,105
On disposals
Other adjustments
At 31 March 2024 14,965 14,965
Net book value
At 31 March 2024 10,561 10,561
At 31 March 2023 11,535 11,535

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 3,157 4,985
Total 3,157 4,985

COMMUNITY INTEREST ANNUAL REPORT

THRIVING SPACES CIC

Company Number: 12518586 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Thriving Spaces was launched in October 2020 with the objective of supporting young people who are furthest away from the job market in particular care experienced young people and young offenders.Since opening, Thrive has had in excess of 5,000 visits from support/social workers, young people and partners. Over 100 young people have received intensive job search support with 150 young people securing employment since inception.Thrive has delivered hundreds of careers sessions which have been accessed by over 500 young people from across Liverpool City Region.Our You Tube channel which hosts recorded careers sessions has been accessed 15,000 times.Our work at Thrive is helping to build a truly inclusive economy that tackles deprivation by reaching young people furthest away from the job market. Our work is unique as we also offer a safe space for social/support workers to meet with the young people they care for to build relationships. We believe that all young people have the right to live happy, safe and fulfilling lives; helping young people to find a purpose and surrounding them with a network of people who have their best interests at heart also reduces the risk of grooming relating to this cohort of young people who are vulnerable and therefore at risk of exploitation.

Consultation with stakeholders

The organisations stakeholders include:-Social/support workers-Care experienced young people-Young Offenders-Young Asylum Seekers-Local Authority-Mersey Police -Care support providers-Supported accommodation providers -Training providersThrive hosts regular meetings with the stakeholders above in the form of focus groups and one to one feedback.Action we have taken based on feedback includes:-The types of employer/industry professionals who deliver sessions at Thrive-Furnishing ‘Thrive’ to create a warm and welcoming coffee shop environment for young people -Introducing mental health support at Thrive including 1:2:1 counselling-Introducing wellbeing support such as yoga and mindfulness

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
9 April 2024

And signed on behalf of the board by:
Name: Sara Lawton
Status: Director