KIDS OF COLOUR CIC

Company limited by guarantee

Company Registration Number:
12275454 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

KIDS OF COLOUR CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

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

KIDS OF COLOUR CIC

Directors' report period ended 31 October 2023

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

Principal activities of the company

Principal activitiesKids of Colour CIC was set up to support young people of colour in Greater Manchester to explore their race, identity, and culture, and to support them and their families to challenge their experiences of racism.



Directors

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

Roxane Legane


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
29 July 2024

And signed on behalf of the board by:
Name: Roxane Legane
Status: Director

KIDS OF COLOUR CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 1,975 6,637
Gross profit(or loss): 1,975 6,637
Administrative expenses: ( 142,389 ) ( 107,080 )
Other operating income: 147,328 107,550
Operating profit(or loss): 6,914 7,107
Profit(or loss) before tax: 6,914 7,107
Profit(or loss) for the financial year: 6,914 7,107

KIDS OF COLOUR CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 0 584
Total fixed assets: 0 584
Current assets
Debtors: 4 223 1,114
Cash at bank and in hand: 90,048 84,285
Total current assets: 90,271 85,399
Creditors: amounts falling due within one year: 5 ( 22,385 ) ( 25,011 )
Net current assets (liabilities): 67,886 60,388
Total assets less current liabilities: 67,886 60,972
Total net assets (liabilities): 67,886 60,972
Members' funds
Profit and loss account: 67,886 60,972
Total members' funds: 67,886 60,972

The notes form part of these financial statements

KIDS OF COLOUR CIC

Balance sheet statements

For the year ending 31 October 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 29 July 2024
and signed on behalf of the board by:

Name: Roxane Legane
Status: Director

The notes form part of these financial statements

KIDS OF COLOUR CIC

Notes to the Financial Statements

for the Period Ended 31 October 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:Office equipment: over 3 yearsFixtures, fittings, tools and equipment: over 3 years

    Other accounting policies

    DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.PensionsContributions to defined contribution plans are expensed in the period to which they relate.

KIDS OF COLOUR CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 6 4

KIDS OF COLOUR CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 2,059 2,059
Additions
Disposals
Revaluations
Transfers
At 31 October 2023 2,059 2,059
Depreciation
At 1 November 2022 1,475 1,475
Charge for year 584 584
On disposals
Other adjustments
At 31 October 2023 2,059 2,059
Net book value
At 31 October 2023 0 0
At 31 October 2022 584 584

KIDS OF COLOUR CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Other debtors 223 1,114
Total 223 1,114

KIDS OF COLOUR CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 22,385 25,011
Total 22,385 25,011

COMMUNITY INTEREST ANNUAL REPORT

KIDS OF COLOUR CIC

Company Number: 12275454 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

Kids of Colour CIC is an anti-racist youth work organisation, committed to racial justice for young people of colour in Greater Manchester. We create spaces for young people of colour in Greater Manchester aged 25 and under to explore their race, identity, and culture, and to feel supported, validated and celebrated. The majority of activity Kids of Colour CIC puts out is free for the community and its young people. This includes youth work sessions, including our regular youth spaces which are safe spaces for young people of colour, in school sessions and summer activities; advocacy work, which includes representing young people in challenging circumstances and signposting to legal networks; and other support such as our free bookshelf in which we distribute books to young people across the city region. In the financial year 2022/2023, our activities have benefited the community in the following ways:Free books for young people distributed across Greater Manchester quarterlySafe spaces for young people of colour to explore their experiences of race, identity and culture, in our monthly youth spaces and school spacesSummer activities and trips, including climbing and fun activities, as well as an event for young people to share their expressions of joy.Signposting to advocacy and legal support for parents and guardians1-1 pastoral support for young people across a variety of contexts in regards to experiences of racismCo-organising with community members from a range of backgrounds to build on healing centered approaches to supporting young peopleA new project called Boys and Love, supporting young boys of colour to explore feminism and masculinity

Consultation with stakeholders

The companies’ stakeholders are first and foremost community members of Greater Manchester, with particular focus on young people of colour and their parents/guardians. The director of the company, and its staff, have lived in Manchester either all their lives or for a number of years and have developed the business model based on the needs that have been arising for communities we live in. We have a continual dialogue with those we support, particularly in regard to advocacy work, which sees our staff in continual communication with those in need to see if they require any more support or signposting. In terms of our youth sessions, these are guided by our young people, and often change and adapt based on what they bring up or need to explore, so we are in a continual feedback loop.If there are recommendations to better our practice, then we work to implement those within our work as well as recognising and solidifying the good practice highlighted.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect of qualifying services was £21,200.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
29 July 2024

And signed on behalf of the board by:
Name: Roxane Legane
Status: Director