PASSION 4 SOCIAL CIC

Company limited by guarantee

Company Registration Number:
SC600980 (Scotland)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

PASSION 4 SOCIAL CIC

Contents of the Financial Statements

for the Period Ended 30 June 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PASSION 4 SOCIAL CIC

Directors' report period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Directors

The directors shown below have held office during the whole of the period from
1 July 2022 to 30 June 2023

Thiago Ribeiro DO CARMO
Pavandeep Kaur STEWART


The directors shown below have held office during the period of
1 August 2022 to 30 June 2023

Mr Victor William BAXTER
Mr Victor William BAXTER
Mr Nicolas CLARKE
Ms Tasnim TUDOR
Mr Campbell John URE
Ms Kari Michele WILLIAMS


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
20 March 2024

And signed on behalf of the board by:
Name: Pavandeep Kaur STEWART
Status: Director

PASSION 4 SOCIAL CIC

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 972 1,527
Total fixed assets: 972 1,527
Current assets
Debtors: 4 11,858 9,153
Cash at bank and in hand: 28,124 33,048
Total current assets: 39,982 42,201
Creditors: amounts falling due within one year: 5 ( 22,240 ) ( 12,636 )
Net current assets (liabilities): 17,742 29,565
Total assets less current liabilities: 18,714 31,092
Creditors: amounts falling due after more than one year: 6 ( 47,682 ) ( 58,297 )
Total net assets (liabilities): (28,968) (27,205)
Members' funds
Profit and loss account: (28,968) ( 27,205)
Total members' funds: ( 28,968) (27,205)

The notes form part of these financial statements

PASSION 4 SOCIAL CIC

Balance sheet statements

For the year ending 30 June 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 20 March 2024
and signed on behalf of the board by:

Name: Pavandeep Kaur STEWART
Status: Director

The notes form part of these financial statements

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 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

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Computer equipment 3 years

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 8 9

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 1,666 1,666
Additions
Disposals
Revaluations
Transfers
At 30 June 2023 1,666 1,666
Depreciation
At 1 July 2022 139 139
Charge for year 555 555
On disposals
Other adjustments
At 30 June 2023 694 694
Net book value
At 30 June 2023 972 972
At 30 June 2022 1,527 1,527

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Debtors

2023 2022
£ £
Trade debtors 4,921 522
Prepayments and accrued income 6,937 8,631
Total 11,858 9,153

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 450 319
Taxation and social security 5,132 4,580
Accruals and deferred income 11,560 5,782
Other creditors 5,098 1,955
Total 22,240 12,636

PASSION 4 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 47,682 58,297
Total 47,682 58,297

COMMUNITY INTEREST ANNUAL REPORT

PASSION 4 SOCIAL CIC

Company Number: SC600980 (Scotland)

Year Ending: 30 June 2023

Company activities and impact

Passion 4 Social CIC is a social enterprise offering creative marketing services to the public, private and third sectors. The creative agency provides graphic design, web design, web/app development, content creation and management, digital marketing, search engine optimisation (SEO), analytics, and website accessibility audit services. The social mission of the company is to create sustainable employment opportunities, whilst providing training and upscaling career opportunities within an equality framework, for disabled and disadvantaged people or those with long-term health conditions, which contribute to their feelings of inclusion, health, wellbeing, and quality of life. The organisation has a flexible business model that enables people to work, how and when they can, in a way that puts their creativity, care and health to the forefront. A social impact report covering FY22-23 is available to download on the company website.

Consultation with stakeholders

Our stakeholders are our directors, employees, service users, suppliers, partners, and creditors. To fulfil our objectives and to ensure the continual improvement of the organisation, we maintain essential lines of communication with all stakeholders. For instance, quarterly board meetings with all directors and monthly meetings with all employees. Furthermore, due to the diversity and varied requirements within the team, various avenues of communication have been developed and are used with a view to best cater for all. This is constantly monitored, and the effectiveness of communications is managed through an open and ongoing 360 feedback approach. Feedback forms are issued to clients after projects have been completed. Regular contact is also made with clients throughout the project process and a support service is provided after project completion. Feedback is requested for online seminars and workshops using feedback forms. The community is also kept updated via our website and Social Media platforms. Where feedback has been positive, that element has been maintained and if it’s been negative, that area has been improved

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by the (2022:8) directors in respect of qualifying services was £66,000 (2022: £72,838). There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 March 2024

And signed on behalf of the board by:
Name: Pavandeep Kaur STEWART
Status: Director