for the Period Ended 31 March 2024
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
As at
Notes | 9 months to 31 March 2024 | 2023 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | ( | ( | |
Total assets less current liabilities: | ( | ( | |
Total net assets (liabilities): | ( | ( | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | ( | ( |
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2024
Basis of measurement and preparation
Turnover policy
for the Period Ended 31 March 2024
9 months to 31 March 2024 | 2023 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 March 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 July 2023 | | | ||||
Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 March 2024 | | | ||||
Depreciation | ||||||
At 1 July 2023 | | | ||||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 March 2024 | | | ||||
Net book value | ||||||
At 31 March 2024 | | | ||||
At 30 June 2023 | | |
for the Period Ended 31 March 2024
9 months to 31 March 2024 | 2023 | |
---|---|---|
£ | £ | |
Other debtors | | |
Total | | |
for the Period Ended 31 March 2024
9 months to 31 March 2024 | 2023 | |
---|---|---|
£ | £ | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
In the fiscal year spanning 2023 to 2024, Own Merit CIC embarked on its inaugural year of operations, dedicated to implementing a housing initiative tailored for individuals exiting the penal system. Our endeavours centred around the implementation of a housing framework collaboratively devised with both prison personnel and prisoners within HMP Five Wells.Our pioneering model aimed to provide housing solutions for prison leavers vulnerable to homelessness, all at no expense to the prison or probation services. In reciprocity, we sought commitment and cooperation from the prison administration.We took in four prison leavers directly from HMP Five Wells, their sudden disengagement without explanation proved to be a setback. Even though we assumed all associated risks and offered our services free of charge to the prison, they ceased communication. This development proved challenging. As of April 2024, three of the individuals initially housed from HMP Five Wells remain residents; one has secured employment, another pursues full-time education, and the third has recently been granted Personal Independence Payments by the Department of Work and Pensions.In response to this unforeseen circumstance, we adjusted our operational model, accepting direct referrals from HMP Probation. This transition, however, brought about a period of disruption, compounded by financial strain stemming from operating at less than full capacity and rental shortfall.Throughout the fiscal period, we successfully accommodated a total of twelve men, with only one individual reoffending during their stay. Financial sustainability has been primarily self-sustained, with Universal Credit rent serving as our principal revenue stream.A strategic partnership with NAASH was established in late 2023, facilitating referrals and providing a modest referral fee per ex-prisoner, aiding in recouping earlier losses.Since January 2024, we have started to break even each month. This underscores the viability of our model in safely accommodating prison leavers in an affordable way. Own Merit CIC advocates for an end to the detrimental practice of releasing individuals from prisons into homelessness.
Own Merit CIC has worked with Northampton Probation, West Northamptonshire Council, HMP Five Wells, the Department for Work and Pensions as well as NAASH Charity in the development and evolvement of our housing model.In response to the engagement, we have adapted our rules of the house to ensure safety. We have also adapted our process for accepting referrals.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
16 April 2024
And signed on behalf of the board by:
Name: Darryn Frost
Status: Director