ADAMAS HOUSE CIC

Company limited by guarantee

Company Registration Number:
14529901 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 8 December 2022

End date: 31 December 2023

ADAMAS HOUSE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

ADAMAS HOUSE CIC

Directors' report period ended 31 December 2023

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

Directors

The directors shown below have held office during the whole of the period from
8 December 2022 to 31 December 2023

Daniel John Oversby
Kevin Brian Oversby


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
2 February 2024

And signed on behalf of the board by:
Name: Daniel John Oversby
Status: Director

ADAMAS HOUSE CIC

Profit And Loss Account

for the Period Ended 31 December 2023

13 months to 31 December 2023


£
Turnover: 0
Cost of sales: ( 17,624 )
Gross profit(or loss): (17,624)
Administrative expenses: ( 48,430 )
Operating profit(or loss): (66,054)
Profit(or loss) before tax: (66,054)
Profit(or loss) for the financial year: (66,054)

ADAMAS HOUSE CIC

Balance sheet

As at 31 December 2023

Notes 13 months to 31 December 2023


£
Fixed assets
Tangible assets: 3 2,038
Total fixed assets: 2,038
Current assets
Cash at bank and in hand: 47,594
Total current assets: 47,594
Creditors: amounts falling due within one year: 4 ( 115,679 )
Net current assets (liabilities): (68,085)
Total assets less current liabilities: (66,047)
Provision for liabilities: ( 7 )
Total net assets (liabilities): (66,054)
Members' funds
Profit and loss account: (66,054)
Total members' funds: ( 66,054)

The notes form part of these financial statements

ADAMAS HOUSE CIC

Balance sheet statements

For the year ending 31 December 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 2 February 2024
and signed on behalf of the board by:

Name: Daniel John Oversby
Status: Director

The notes form part of these financial statements

ADAMAS HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Tangible fixed assets depreciation policy

    Tangibleassets are initiallymeasuredat cost, andare subsequentlymeasuredat cost less any accumulateddepreciationandaccumulatedimpairment lossesoratarevaluedamount. Anytangibleassetscarriedatarevaluedamountarerecordedatthefairvalueatthedateofrevaluation lessanysubsequentaccumulateddepreciationandsubsequentaccumulatedimpairment losses. An increase in thecarryingamount of anasset asa result of a revaluation is recognised inother comprehensiveincomeandaccumulatedincapitalandreserves.However, theincreaseisrecognised inprofit or loss to theextent that it reversesa revaluationdecreaseof thesameasset previously recognisedinprofitor loss. Adecreaseinthecarryingamountofanassetasaresultof revaluation isrecognised inothercomprehensive incometotheextentofanypreviouslyrecognisedrevaluation increaseaccumulated incapital and reserves. If a revaluationdecreaseexceeds theaccumulated revaluationgainsaccumulatedincapitalandreservesinrespectofthatasset,theexcessisrecognised inprofitor loss.

ADAMAS HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    13 months to 31 December 2023
    Average number of employees during the period 1

ADAMAS HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,619 419 2,038
Disposals
Revaluations
Transfers
At 31 December 2023 1,619 419 2,038
Depreciation
Charge for year
On disposals
Other adjustments
At 31 December 2023
Net book value
At 31 December 2023 1,619 419 2,038

ADAMAS HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

13 months to 31 December 2023
£
Bank loans and overdrafts 96,144
Trade creditors 15,113
Taxation and social security 2,312
Other creditors 2,110
Total 115,679

COMMUNITY INTEREST ANNUAL REPORT

ADAMAS HOUSE CIC

Company Number: 14529901 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

During the first twelve months of existence the Directors and Manager of the CIC have worked to develop relationships with surrounding Local Authorities and like minded Charities working with Looked After Children, Children and Families on the Edge of Care Proceedings and the families supporting Looked After Children.The Directors and Manager have also been working through the application process with Ofsted to register the CIC as a Registered Childrens Home. The final inspection in this process with an Ofsted Inspector took place on the 20th of December 2023, with a decision expected in early 2024.The Directors still hope to be able to open the Registered Home shortly after Easter 2024.

Consultation with stakeholders

Consultation has continued with the Directors of Childrens Services in the Counties of Gloucester, Hereford and Worcester. This has been in the form of Due Diligence Reports and Feedback from all has been positive with the only requirement being the URN from Ofsted. This is subject to the final Inspection that occured on the 20th December 2023.In October 2023 the Directors of the CIC in connection with the consultants involved in the setting up of the CIC were successful in the application to Register "The Adamas Trust" with the charities commission.The Trustees of the charity will now form an advisory board to the Directors and Manager of the CIC.The CIC during consultation with the board of Trustees has agreed to amend the Memorandum and Articles of Association of the CIC to change the designated Charity from the ASHA Foundation to the "The Adamas Trust".Any surplus profit made by the CIC will in future be donated to "The Adamas Trust". This will ensure that any profit made by the CIC is not subject to Corporation Tax and that it is used solely for the purposes championed by the CIC.It has been agreed with the board of Trustees that the CIC will be able to make application to "The Adamas Trust", in any future Grants that it may offer that as long as they are fitting to both the constitution of the Charity and the cause of the CIC. They will not be made for "Core Funding".

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
2 February 2024

And signed on behalf of the board by:
Name: Daniel John Oversby
Status: Director