IMOLITES YORKSHIRE CIC

Company limited by guarantee

Company Registration Number:
14620269 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 27 January 2023

End date: 31 January 2024

IMOLITES YORKSHIRE CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

IMOLITES YORKSHIRE CIC

Directors' report period ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Directors

The directors shown below have held office during the whole of the period from
27 January 2023 to 31 January 2024

Zebdee Onu OHAERI
Valentine NWOKEFORO
Mercy MARTINS ULUNMA


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
14 April 2024

And signed on behalf of the board by:
Name: Zebdee Onu OHAERI
Status: Director

IMOLITES YORKSHIRE CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024


£
Turnover: 0
Cost of sales: ( 3,348 )
Gross profit(or loss): (3,348)
Administrative expenses: ( 1,810 )
Other operating income: 6,650
Operating profit(or loss): 1,492
Profit(or loss) before tax: 1,492
Tax: 0
Profit(or loss) for the financial year: 1,492

IMOLITES YORKSHIRE CIC

Balance sheet

As at 31 January 2024

Notes 2024


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Cash at bank and in hand: 1,692
Total current assets: 1,692
Creditors: amounts falling due within one year: 3 ( 200 )
Net current assets (liabilities): 1,492
Total assets less current liabilities: 1,492
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 1,492
Members' funds
Profit and loss account: 1,492
Total members' funds: 1,492

The notes form part of these financial statements

IMOLITES YORKSHIRE CIC

Balance sheet statements

For the year ending 31 January 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 14 April 2024
and signed on behalf of the board by:

Name: Zebdee Onu OHAERI
Status: Director

The notes form part of these financial statements

IMOLITES YORKSHIRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 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

    Other accounting policies

    Accounting policiesSignificant accounting policiesStatement of complianceThese financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.Basis of preparationThe financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.The financial statements are prepared in sterling which is the functional currency of the company.Going concern basisThe directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.Government grantsGovernment grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

IMOLITES YORKSHIRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024
    Average number of employees during the period 3

IMOLITES YORKSHIRE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Creditors: amounts falling due within one year note

2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 0
Accruals and deferred income 200
Other creditors 0
Total 200

COMMUNITY INTEREST ANNUAL REPORT

IMOLITES YORKSHIRE CIC

Company Number: 14620269 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

Imolites Yorkshire CIC is a community interest company (CIC), in the sense that it is meant to cater for the interest of its members and the immediate community. It is a socio-cultural organization which has its membership drawn from indigenes of Imo State of Nigeria. The Membership is also made up of Imolites residence in Yorkshire, and it is based in Leeds:- Focused on members welfare; being the brother’s keeper, shared Aldi vouchers to the members to help support their needs.- Arranged regular meetings to allow face-to-face encounters with one another and having meals together.- Promotion of our culture, being outside and far from home, there is the danger of losing touch with our culture. By meeting regularly and discussing issues of common interest we kept in touch with home and culture. - Vital information was disseminated to the members about the laws, rules and social norms which contributed to members being law abiding citizens.

Consultation with stakeholders

Imolites Yorkshire CIC is a community interest company (CIC), in the sense that it is meant to cater for the interest of its members and the immediate community. It is a socio-cultural organization which has its membership drawn from indigenes of Imo State of Nigeria. The Membership is also made up of Imolites residence in Yorkshire, and it is based in Leeds.During regular meetings we take input from members on how best things should be done, organizing year-end events makes everyone to get involved so that their interest is brought on board. Suggestion of giving members Aldi Vouchers came from members during the regular meetings we have and this was implemented, members are now able to receive vouchers and do their shopping. This helps to put a smile on the members and make them feel cared for.

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
14 April 2024

And signed on behalf of the board by:
Name: Zebdee Onu OHAERI
Status: Director