ARC COMMUNITY SPACE CIC

Company limited by guarantee

Company Registration Number:
10710494 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

ARC COMMUNITY SPACE CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

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

ARC COMMUNITY SPACE CIC

Directors' report period ended 31 March 2023

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

Directors

The director shown below has held office during the whole of the period from
1 April 2022 to 31 March 2023

Damien Brown


The director shown below has held office during the period of
1 April 2022 to 19 October 2022

Daniel Torres


The directors shown below have held office during the period of
27 February 2023 to 31 March 2023

Clare Smith
Susan Smith


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
1 May 2024

And signed on behalf of the board by:
Name: Damien Brown
Status: Director

ARC COMMUNITY SPACE CIC

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 244,044 129,878
Cost of sales: ( 114,517 ) ( 55,478 )
Gross profit(or loss): 129,527 74,400
Administrative expenses: ( 333,885 ) ( 259,368 )
Other operating income: 214,816 159,664
Operating profit(or loss): 10,458 (25,304)
Interest receivable and similar income: 0 4
Interest payable and similar charges: ( 3,162 )
Profit(or loss) before tax: 7,296 (25,300)
Tax: ( 1,193 )
Profit(or loss) for the financial year: 7,296 (26,493)

ARC COMMUNITY SPACE CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 29,186 25,127
Total fixed assets: 29,186 25,127
Current assets
Stocks: 4 300
Debtors: 5 6,929 18,191
Cash at bank and in hand: 31,154 14,816
Total current assets: 38,383 33,007
Creditors: amounts falling due within one year: 6 ( 39,494 ) ( 36,260 )
Net current assets (liabilities): (1,111) (3,253)
Total assets less current liabilities: 28,075 21,874
Creditors: amounts falling due after more than one year: 7 ( 26,516 ) ( 27,611 )
Total net assets (liabilities): 1,559 (5,737)
Members' funds
Profit and loss account: 1,559 ( 5,737)
Total members' funds: 1,559 (5,737)

The notes form part of these financial statements

ARC COMMUNITY SPACE CIC

Balance sheet statements

For the year ending 31 March 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 1 May 2024
and signed on behalf of the board by:

Name: Damien Brown
Status: Director

The notes form part of these financial statements

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 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

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:33% straight line

    Other accounting policies

    StocksStocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.Government Grants or AssistanceGovernment grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 9 6

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 3,369 26,003 29,372
Additions 2,835 4,746 7,581
Disposals
Revaluations
Transfers
At 31 March 2023 6,204 30,749 36,953
Depreciation
At 1 April 2022 2,245 2,000 4,245
Charge for year 558 2,964 3,522
On disposals
Other adjustments
At 31 March 2023 2,803 4,964 7,767
Net book value
At 31 March 2023 3,401 25,785 29,186
At 31 March 2022 1,124 24,003 25,127

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Stocks

2023 2022
£ £
Stocks 300
Payments on account 0
Total 300

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
£ £
Trade debtors 3,854 9,493
Prepayments and accrued income 474 664
Other debtors 2,601 8,034
Total 6,929 18,191

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 3,611 3,643
Trade creditors 0 4,330
Taxation and social security 33,483 9,787
Accruals and deferred income 2,400 18,500
Total 39,494 36,260

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

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

2023 2022
£ £
Bank loans and overdrafts 26,516 27,611
Total 26,516 27,611

COMMUNITY INTEREST ANNUAL REPORT

ARC COMMUNITY SPACE CIC

Company Number: 10710494 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

Throughout this financial year, ARC COMMUNITY SPACE CIC has built upon our foundational services, deepening our community engagement and enhancing the support provided to our beneficiaries. Our activities have seen significant growth and refinement:Food Bank Integration: Continuously supporting 300 people weekly, we’ve enhanced the food bank’s impact by integrating beneficiaries into the ARC Gardens programme. This initiative not only provides fresh produce directly to our food bank but also empowers users with the knowledge and skills to grow their own food, fostering sustainability and self-sufficiencyARC Gardens Expansion: Following our successful partnership with the Chelsea Flower Show, ARC Gardens has flourished, serving as a source of fresh produce for the food bank and a vibrant community space for learning and engagement around sustainable gardening practices.Coffee At The ARC Development: Our coffee shop has become a central hub for the community, with the addition of a youth training programme that offers valuable employment skills, reinforcing our commitment to empowering local young people.Yoga Programme Accessibility: The Yoga At The ARC initiative has been significantly expanded to offer more than 50 classes weekly. Importantly, we’ve provided free memberships to all food bank users, ensuring that wellness and mental health support are accessible to everyone in the community.Community Programme Continuity and Innovation: Our staple community offerings, such as coffee mornings, bingo, and line dancing, have been complemented by new events to cater to a wider range of interests and needs, maintaining the venue’s role as a versatile community asset.

Consultation with stakeholders

This year, we’ve taken deliberate steps to ensure that our services not only meet but anticipate the needs of our community. Consultation has been key in this process:Direct Feedback from Food Bank Users:By engaging food bank beneficiaries in discussions about their needs and preferences, we’ve successfully encouraged some participation in both the ARC Gardens and the Yoga At The ARC programmes, promoting holistic well-being.Informal Volunteer Pathways: Although not through a formalised process, we’ve created opportunities for volunteers to transition into more permanent roles within the ARC, specifically within the food bank. This has highlighted the potential for developing a more structured volunteer-to-employment pathway in the future.Our approach to stakeholder consultation has not only informed the evolution of our existing services but also underscored the importance of flexibility and responsiveness in meeting community needs.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £94,422.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
1 May 2024

And signed on behalf of the board by:
Name: Damien Brown
Status: Director