SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
SC596856 (Scotland)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

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

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

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

Principal activities of the company

Somewhere EDI CIC is a community interest company, limited by guarantee, set up to provide a new platform for supporting the LGBT+ community through culture and enterprise related projects, partnerships, and research.



Directors

The directors shown below have held office during the whole of the period from
1 August 2022 to 31 July 2023

Kathryn Pierce
Thomas Anderson
Julia Stapleton-Barnes


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
22 April 2024

And signed on behalf of the board by:
Name: Kathryn Pierce
Status: Director

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 July 2023

2023 2022


£

£
Turnover: 26,157 25,146
Cost of sales: ( 28,124 ) ( 30,799 )
Gross profit(or loss): (1,967) (5,653)
Administrative expenses: ( 46,614 ) ( 35,907 )
Other operating income: 40,632 32,778
Operating profit(or loss): (7,949) (8,782)
Profit(or loss) before tax: (7,949) (8,782)
Profit(or loss) for the financial year: (7,949) (8,782)

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 734 1,319
Total fixed assets: 734 1,319
Current assets
Debtors: 4 311 5,868
Cash at bank and in hand: 23,701 20,004
Total current assets: 24,012 25,872
Creditors: amounts falling due within one year: 5 ( 15,894 ) ( 15,390 )
Net current assets (liabilities): 8,118 10,482
Total assets less current liabilities: 8,852 11,801
Creditors: amounts falling due after more than one year: 6 ( 25,000 ) ( 20,000 )
Total net assets (liabilities): (16,148) (8,199)
Members' funds
Profit and loss account: (16,148) ( 8,199)
Total members' funds: ( 16,148) (8,199)

The notes form part of these financial statements

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

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 22 April 2024
and signed on behalf of the board by:

Name: Kathryn Pierce
Status: Director

The notes form part of these financial statements

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

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

    There has been grant income awarded in Year Three. Grant income is recognised in the profit and loss account in the year to which it relates.Income is recognised when goods or services have been delivered to the customer such that the risks and rewards of ownership have transferred to them.

    Other accounting policies

    Inventories have been valued at the lower of cost and estimated selling price less costs to sell. These currently consist of mug merchandise available to sell.

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

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 £ £ £ £ £ £
At 1 August 2022 1,774 1,774
Additions
Disposals
Revaluations
Transfers
At 31 July 2023 1,774 1,774
Depreciation
At 1 August 2022 455 455
Charge for year 585 585
On disposals
Other adjustments
At 31 July 2023 1,040 1,040
Net book value
At 31 July 2023 734 734
At 31 July 2022 1,319 1,319

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Debtors

2023 2022
£ £
Trade debtors 10 185
Prepayments and accrued income 301 5,683
Total 311 5,868

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 14,239 15,255
Other creditors 1,655 135
Total 15,894 15,390

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

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

2023 2022
£ £
Other creditors 25,000 20,000
Total 25,000 20,000

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

7. Loans to directors

Name of director receiving advance or credit: Kathryn Pierce
Description of the transaction:
The loan is stated as 0.2 of a cumulative five-year Directors Loan is to be repaid at a point in the future where it is feasible and viable to do so. There will remain the option for Kathryn Pierce to defer or cancel the Directors Loan.
£
Balance at 31 July 2022 20,000
Advances or credits made: 5,000
Advances or credits repaid:
Balance at 31 July 2023 25,000

COMMUNITY INTEREST ANNUAL REPORT

SOMEWHERE EDI COMMUNITY INTEREST COMPANY

Company Number: SC596856 (Scotland)

Year Ending: 31 July 2023

Company activities and impact

Somewhere EDI CIC is a community interest company, limited by guarantee, set up to provide a new platform for supporting the LGBT+ community through culture and enterprise related projects, partnerships, and research.

Consultation with stakeholders

We operate an ongoing dialogue with all our members and customers, via email, contact forms, social media forums and channels. We continue with an Annual Reader Survey each year to make sure we are creating the right sort of magazine for the community. We are pleased to say that we received overwhelmingly positive messages about our work. We also regularly attend LGBTQ+ focused events which fit our purpose, so that we can engage with supporters on a face-to-face basis. We also continue to be nominated for community awards in the LGBTQ+ space.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £31,217.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 April 2024

And signed on behalf of the board by:
Name: Kathryn Pierce
Status: Director