for the Period Ended 31 August 2023
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2023 | 2022 | |
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| £ | £ |
Turnover: | | |
Cost of sales: | | |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | |
Operating profit(or loss): | ( | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | | |
Profit(or loss) before tax: | ( | |
Tax: | | |
Profit(or loss) for the financial year: | ( | |
As at
Notes | 2023 | 2022 | |
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| £ | £ | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | | | |
Investments: | | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | | | |
Debtors: | | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 3 | ( | |
Net current assets (liabilities): | ( | | |
Total assets less current liabilities: | ( | | |
Creditors: amounts falling due after more than one year: | | | |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
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 August 2023
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 August 2023
2023 | 2022 | |
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Average number of employees during the period | | |
for the Period Ended 31 August 2023
2023 | 2022 | |
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£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
The Inside Out Clothing Project CIC conducted training over 4 weeks in February 2023 with 9 young ex-offenders who have recently left jail. They were given training in fashion, business and design as well as being mentored about their own journeys to prevent them from re-offending. Once the training was completed the young men went on to work in the pop-up shop selling the designs they had created at Westfield Shopping Centre in East London for 4 months. The pop-up shop has now closed and the company has taken new residency in a longer term property. The community has benefited hugely so far from the project and has suppoted the young men who have been part of this. We have changed the trajectory of these young men and shown them about change and second chances. The Inside Out Project is the first clothing label created by young people who have just left prison. None of our young men have gone back to prison and none have reoffended. The project has had a 100% success rate.
No consultation with stakeholders
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
10 April 2024
And signed on behalf of the board by:
Name: R Pierre
Status: Director