RESTART SUPPORTED LIVING CIC

Company limited by guarantee

Company Registration Number:
14265947 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2023

Period of accounts

Start date: 1 August 2022

End date: 31 August 2023

RESTART SUPPORTED LIVING CIC

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

RESTART SUPPORTED LIVING CIC

Balance sheet

As at 31 August 2023

Notes 13 months to 31 August 2023


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 13,450
Total current assets: 13,450
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 3 ( 11,348 )
Net current assets (liabilities): 2,102
Total assets less current liabilities: 2,102
Total net assets (liabilities): 2,102
Members' funds
Profit and loss account: 2,102
Total members' funds: 2,102

The notes form part of these financial statements

RESTART SUPPORTED LIVING CIC

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.

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 15 May 2024
and signed on behalf of the board by:

Name: Prosper Chidzomba
Status: Director

The notes form part of these financial statements

RESTART SUPPORTED LIVING CIC

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

    Turnover policy

    2.2 Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and voiume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Valuation information and policy

    2.3 Cash and Cash EquivalentsCash and cash equivalents are basic financial assets and include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown withinborrowings in current liabilities.2.4 Financial instrumentsThe company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present vaiue of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if paymeni is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.2.5 Equity instrumentsEquity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

    Other accounting policies

    2.6 TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities ina transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probablethat sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case thE! deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.2.7 Employee benefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminatethe employment of an employee or to provide termination benefits.2.8 Retirement benefitsContributions to the Association's defined contribution retirement benefit scheme are charged as an expense as they fall due.2.9 Foreign exchangeTransactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.3.0 Judgements and key sources of estimation uncertaintyThe preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date.The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.The nature of estimation means that actual outcomes could differ from those estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

RESTART SUPPORTED LIVING CIC

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees

    13 months to 31 August 2023
    Average number of employees during the period 3

RESTART SUPPORTED LIVING CIC

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Creditors: amounts falling due within one year note

13 months to 31 August 2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 748
Accruals and deferred income 0
Other creditors 10,600
Total 11,348

COMMUNITY INTEREST ANNUAL REPORT

RESTART SUPPORTED LIVING CIC

Company Number: 14265947 (England and Wales)

Year Ending: 31 August 2023

Company activities and impact

We have supported tenants with long-term mental illness to live independently within the local community successfully and maintained the support level necessary for them to avoid re-curring hospital re-admissions due to relapse.Due to continued support we give our vulnerable tenants, one of them has not re-offended and has hence now got a steady offence free life style and is rebuilding his life within the community aiming for continued positive outcomesWe have facilitated multi-agency working with the NHS discharge teams by maintaining an ac-commodation which has the full support needed to stop their referrals (vulnerable adults with mental illness) from moving from accommodation to accommodation, hence risking them get-ting lost in the system and support possibly breaking down.We have and continue to provide a partnership with the local community and councils to reduce homelessness, rough sleeping and accommodation breakdowns due to our supported housing service.Our accommodation is high quality and standard hence allowing vulnerable adults to live safely and in a secure and supported environment.

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
15 May 2024

And signed on behalf of the board by:
Name: Prosper Chidzomba
Status: Director