WE LOVE MASS MEDITATION CIC

Company limited by guarantee

Company Registration Number:
12363450 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

WE LOVE MASS MEDITATION CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

WE LOVE MASS MEDITATION CIC

Directors' report period ended 31 December 2023

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

Principal activities of the company

The company provides financial support to people who do spiritual practice regularly, so they can get through difficult periods with peace of mind. The company is supported by donations.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

KI-FU TERRY TSOI


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
8 June 2024

And signed on behalf of the board by:
Name: KI-FU TERRY TSOI
Status: Director

WE LOVE MASS MEDITATION CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 14,629 15,154
Cost of sales: ( 12,597 ) ( 10,786 )
Gross profit(or loss): 2,032 4,368
Operating profit(or loss): 2,032 4,368
Profit(or loss) before tax: 2,032 4,368
Tax: ( 509 ) ( 1,092 )
Profit(or loss) for the financial year: 1,523 3,276

WE LOVE MASS MEDITATION CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 6,548 7,626
Total current assets: 6,548 7,626
Net current assets (liabilities): 6,548 7,626
Total assets less current liabilities: 6,548 7,626
Total net assets (liabilities): 6,548 7,626
Members' funds
Profit and loss account: 6,548 7,626
Total members' funds: 6,548 7,626

The notes form part of these financial statements

WE LOVE MASS MEDITATION CIC

Balance sheet statements

For the year ending 31 December 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 8 June 2024
and signed on behalf of the board by:

Name: KI-FU TERRY TSOI
Status: Director

The notes form part of these financial statements

WE LOVE MASS MEDITATION CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

WE LOVE MASS MEDITATION CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

COMMUNITY INTEREST ANNUAL REPORT

WE LOVE MASS MEDITATION CIC

Company Number: 12363450 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The company provides financial support to people who do spiritual practice regularly in the UK and around the world, so they can get through a difficult period with peace of mind. The company is supported by donations, and we are not asking for anything from the people we help in return.During the financial year 2022 – 2023, the company’s activities have benefited the community in the following ways:- Four people received financial support to settle utility bills and purchase necessities- A team received financial support for carrying out spiritual practice when touring Europe- A person received financial support to prevent the house that she has called home for 30 years from being repossessed by the bank- A person received financial support to purchase a much-needed bed and other necessities to improve her living condition- A team received financial support for carrying out spiritual practice in the United States- A person received financial support to carry out emergency dental treatments- A person received financial support to attend a spiritual workshop in Hungary.

Consultation with stakeholders

The company’s stakeholders are members of the CIC, donors, and the people who applied for short-term financial assistance from the company.Each application is being reviewed in detail with members to ensure that financial assistance is only provided to people who need it the most. This is also to ensure the donations received are used efficiently. Each application needs to gain the support from all members before it can be approved and paid. A record of all applications is kept and all the discussions are documented for future reference.

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
12 August 2024

And signed on behalf of the board by:
Name: KI-FU TERRY TSOI
Status: Director