THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
13591588 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2023

Period of accounts

Start date: 1 September 2022

End date: 31 August 2023

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 August 2023

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

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 August 2023

2023 2022


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: ( 515 ) 0
Operating profit(or loss): (515) 0
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (515) 0
Tax: 0 0
Profit(or loss) for the financial year: (515) 0

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 August 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 0 0
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 3 ( 515 ) 0
Net current assets (liabilities): (515) 0
Total assets less current liabilities: (515) 0
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (515) 0
Members' funds
Profit and loss account: (515) 0
Total members' funds: ( 515) 0

The notes form part of these financial statements

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 August 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 10 April 2024
and signed on behalf of the board by:

Name: R Pierre
Status: Director

The notes form part of these financial statements

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 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

    Other accounting policies

    Financial Instruments: Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 515 0
Other creditors 0 0
Total 515 0

COMMUNITY INTEREST ANNUAL REPORT

THE INSIDE OUT CLOTHING PROJECT COMMUNITY INTEREST COMPANY

Company Number: 13591588 (England and Wales)

Year Ending: 31 August 2023

Company activities and impact

The Inside Out Clothing Project CIC conducted training over 4 weeks in February 2023 with 9 young ex-offenders who have recently left jail. They were given training in fashion, business and design as well as being mentored about their own journeys to prevent them from re-offending. Once the training was completed the young men went on to work in the pop-up shop selling the designs they had created at Westfield Shopping Centre in East London for 4 months. The pop-up shop has now closed and the company has taken new residency in a longer term property. The community has benefited hugely so far from the project and has suppoted the young men who have been part of this. We have changed the trajectory of these young men and shown them about change and second chances. The Inside Out Project is the first clothing label created by young people who have just left prison. None of our young men have gone back to prison and none have reoffended. The project has had a 100% success rate.

Consultation with stakeholders

No consultation with stakeholders

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
10 April 2024

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