MY LOCAL ENTERPRISE CIC

Company limited by guarantee

Company Registration Number:
12566272 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

MY LOCAL ENTERPRISE CIC

Contents of the Financial Statements

for the Period Ended 30 April 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MY LOCAL ENTERPRISE CIC

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 50 50
Total current assets: 50 50
Creditors: amounts falling due within one year: 3 ( 1,108 ) ( 629 )
Net current assets (liabilities): (1,058) (579)
Total assets less current liabilities: (1,058) ( 579)
Total net assets (liabilities): (1,058) (579)
Members' funds
Profit and loss account: (1,058) ( 579)
Total members' funds: ( 1,058) (579)

The notes form part of these financial statements

MY LOCAL ENTERPRISE CIC

Balance sheet statements

For the year ending 30 April 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 15 April 2024
and signed on behalf of the board by:

Name: Olivia Aku KING-BOATENG
Status: Director

The notes form part of these financial statements

MY LOCAL ENTERPRISE CIC

Notes to the Financial Statements

for the Period Ended 30 April 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

    Other accounting policies

    Basis of accounting-The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).Going Concern-The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

MY LOCAL ENTERPRISE CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

MY LOCAL ENTERPRISE CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 479
Other creditors 1,108 150
Total 1,108 629

COMMUNITY INTEREST ANNUAL REPORT

MY LOCAL ENTERPRISE CIC

Company Number: 12566272 (England and Wales)

Year Ending: 30 April 2023

Company activities and impact

My Local Enterprise CIC was established in April 2020, based in Harrow and operates in London and Greater London. Our mission is to inspire, encourage, enable, empower and connect local people. We aim to support local people in their own communities in finding solutions to local problems by starting up their own businesses and social enterprises through a range of innovative and creative employment generating programmes and events.We have been running some very low cost free events in the localcommunity for many years including information drop ins in local libraries, health consultations in conjunction with public health bodies and an arts and crafts club. In our engagement with our members, we give local people opportunities to gain self-confidence and upskill them in preparation to scale up their ventures and to network with others and key professionals or organisations. It has contributed to reducing social isolation and poverty, especially in (female) single parent led households. We help local people find information about benefits amid the cost of living crisis and increases in general cost of just about everything such as goods and services. It has been another very challenging year financially without any funding. We have benefited from free venues, goods and materials donated from local people and members. In this year we saw the arts and crafts club we established in 2021, achieve a full year in existence and with a planned celebration its first year with an exhibition of all that the members created over the weekly sessions. This event took place May 2023. The video of the exhibition was widely circulated with the help library staff to other neighbourhoods. The arts and crafts is based at a local library in Harrow, but welcomes local people and relatives of members living in neighbouring boroughs. Members have benefited from workshops on different types of arts and crafts and ways to sell their creations. The members have been on group visits to other creative places around London. The members have established close relationships with eachother and support themselves in other areas. Our impact in the community - How do we know we are making a difference?We now provide regular workshops, which are promoted widely to other local people and groups by our members. Some members have developed their own leadership roles and that has contributed to the group to being largely self-directed. We are supporting the group to explore other opportunities and further workshops and training in community development.Our work continues to be conducted on a voluntary basis. Our plan is to seek further funding to develop some of the ideas we have established

Consultation with stakeholders

Our main stakeholders were based in the local Harrow community, with increasing interest from families and professionals from neighbouring boroughs (Brent and Barnet) and they consist of the following: Children and Young people of all ages, Women, mothers, Men, fathers, People from the BAME communities, People from low income, Vulnerable local people, parents and carers with children and young people with SEND,Local authority and Health partners (NHS, ICS, Public Health), Statutory departments/supportagencies/services (social workers),Local arts and crafts groups, support groups and non-profit organisations, Professional agencies, bodies and individuals (enterprise agencies, LA enterprise/generation/business support departments. Local business support professionals and business community (accountants, lawyers, bookkeepers, etc)We continue to gather feedback from our face to face events, and consultations with local people and professionals. Platforms/Apps such as WhatsApp have been an especially effective means of communicating and consulting with our members. We have increased membership on WhatsApp as more local people seek support. We use our website, a range of social media platforms to encourage and engage with parents and other local people. We continue to explore local provision to support our members. Our ongoing outreach and networking activities continue to allow us to be representative of a wide range of communities. We will continue to evaluate the success and direction of each project with ongoing dialogue and through formal and informal questionnaires from our members and comments from professionals.

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
15 April 2024

And signed on behalf of the board by:
Name: Olivia Aku KING-BOATENG
Status: Director