ROOTS COFFEE LOUNGE CIC

Company limited by guarantee

Company Registration Number:
14243384 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 19 July 2022

End date: 31 July 2023

ROOTS COFFEE LOUNGE CIC

Contents of the Financial Statements

for the Period Ended 31 July 2023

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

ROOTS COFFEE LOUNGE CIC

Directors' report period ended 31 July 2023

The directors present their report with the financial statements of the company for the period ended 31 July 2023

Directors

The director shown below has held office during the whole of the period from
19 July 2022 to 31 July 2023

R Lyons


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
18 April 2024

And signed on behalf of the board by:
Name: R Lyons
Status: Director

ROOTS COFFEE LOUNGE CIC

Profit And Loss Account

for the Period Ended 31 July 2023

2023


£
Turnover: 81,639
Cost of sales: ( 71,732 )
Gross profit(or loss): 9,907
Administrative expenses: ( 8,340 )
Operating profit(or loss): 1,567
Interest payable and similar charges: ( 759 )
Profit(or loss) before tax: 808
Profit(or loss) for the financial year: 808

ROOTS COFFEE LOUNGE CIC

Balance sheet

As at 31 July 2023

Notes 2023


£
Fixed assets
Tangible assets: 3 3,483
Total fixed assets: 3,483
Current assets
Stocks: 4 4,767
Debtors: 5 638
Cash at bank and in hand: 4,596
Total current assets: 10,001
Creditors: amounts falling due within one year: 6 ( 7,076 )
Net current assets (liabilities): 2,925
Total assets less current liabilities: 6,408
Accruals and deferred income: ( 5,600 )
Total net assets (liabilities): 808
Members' funds
Profit and loss account: 808
Total members' funds: 808

The notes form part of these financial statements

ROOTS COFFEE LOUNGE CIC

Balance sheet statements

For the year ending 31 July 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 18 April 2024
and signed on behalf of the board by:

Name: R Lyons
Status: Director

The notes form part of these financial statements

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following ratesPlant and machinery - 15 percent on a reducing balance basisFixtures and fittings - 15 percent on a reducing balance basis

    Other accounting policies

    Stocks and Work in ProgressStocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023
    Average number of employees during the period 6

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 2,505 1,045 3,550
Disposals
Revaluations
Transfers
At 31 July 2023 2,505 1,045 3,550
Depreciation
Charge for year 44 23 67
On disposals
Other adjustments
At 31 July 2023 44 23 67
Net book value
At 31 July 2023 2,461 1,022 3,483

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Stocks

2023
£
Stocks 4,767
Total 4,767

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Debtors

2023
£
Other debtors 638
Total 638

ROOTS COFFEE LOUNGE CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Creditors: amounts falling due within one year note

2023
£
Other creditors 7,076
Total 7,076

COMMUNITY INTEREST ANNUAL REPORT

ROOTS COFFEE LOUNGE CIC

Company Number: 14243384 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

The company runs Roots Coffee Lounge, a cafe based in The Landmarks Centre, Pleasley. The Landmarks Centre is a community space leased and operated by the R.E.A.L Foundation Trust. Roots Coffee Lounge CIC began trading in November 2022 and has a primary focus on providing hospitality training and work plus work experience opportunities for young people with additional needs or from disadvantaged backgrounds. In the last 12 months we have supported a young homeless woman into work through the experience gained at Roots and helped her to access grants for accommodation. We have supported 5 young people with additional needs with regular work experience and have employed 3 young people with additional needs. These young people were at risk of economic inactivity due to difficulties accessing further education. The cafe has provided space to advice organisations with regular drop-in sessions for money and nutrition support for the local community. In conjunction with a local councillor’s initiative, we have become a drop off point for food donations for a community food bank. We have a number of local suppliers that provide goods to the cafe such as cakes, butchers and a pizza maker and have promoted their businesses to our customers. As well as using local food suppliers we also provide a space for local businesses to promote their services free of charge.In addition to this we have also provided space free of charge for local interest groups to be formed to build stronger communities. We have 5 groups at present Menopause Matters – A safe space for women experiencing the menopause to share their experience and to navigate the challenges faced such as physical or mental health issues, understanding their symptoms, and how to advocate for themselves better at work and with health professionals – 30 attendees monthlyRoots Book Club – This club attracts a diverse range of people of all ages to engage in discussion around literature and to encourage a wider breadth of English skills. 25 monthly attendees Yarn Angels – As some of the traditional skills such as knitting and crocheting are being lost, we have been very fortunate to engage local knitters to come and share their knowledge with people of all ages in the local community to knit/crochet items such as hats and blankets in aid of good causes such as neo-natal units. Not only has this ensured these skills will endure but it has also been great to see inter-generational communities of people develop reducing loneliness. Roots Music Night – This is a monthly event that allows local bands to showcase their music to local people providing a fan base and experience in a small intimate venue, to help increase their confidence. B24 Business Club – This is a free event for local business owners to get together. Most of these business owners work from home and it is a great way for them to connect and share information.

Consultation with stakeholders

Company stakeholders are the residents of Pleasley and visitors to The Landmark Centre, R.E.A.L Education, R.E.A.L Foundation Trust, local suppliers, Employees and volunteers, and other small business owners in the area. Initial consultation around hospitality training was undertaken with R.E.A.L Education and the R.E.A.L Foundation Trust. It was identified that there was a lack of suitable work experience opportunities for young people with additional needs in the hospitality industry. These young people often struggle with social and interpersonal skills due to the nature of their difficulties. This then meant that when they were leaving hospitality courses, they were struggling to find gainful employment as they had not had the opportunity to use their training in a live environment. By providing a safe, nurturing environment with staff that could adapt training and mentoring to suit the needs of these young people then we could build up resilience and improve interpersonal skills to help them to thrive in any setting. As a community cafe we have many customers' who regularly feedback about what they would like to see in the area. Whilst formal consultation has not yet been carried out, the informal feedback has resulted in the additional interest groups described above. For instance, the Menopause matters group came about after a local lady shared a story about her customers' who were struggling with their mental health and felt they had nowhere to turn to. These ladies now feel more supported. Many of the groups started off as two or three visitors but have built up over time to 30 or 40 attendees, contributing to a stronger community spirit. There are plans to look at a parent and toddler session in the morning following recent requests from customers.

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
18 April 2024

And signed on behalf of the board by:
Name: E McManus
Status: Director