FROM LOFT TO LOVED WORKSHOPS C.I.C.

Company limited by guarantee

Company Registration Number:
14558234 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 28 December 2022

End date: 31 December 2023

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2023

2023


£
Turnover: 16,162
Cost of sales: ( 6,432 )
Gross profit(or loss): 9,730
Administrative expenses: ( 7,071 )
Operating profit(or loss): 2,659
Profit(or loss) before tax: 2,659
Profit(or loss) for the financial year: 2,659

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Balance sheet

As at 31 December 2023

Notes 2023


£
Fixed assets
Tangible assets: 3 2,170
Total fixed assets: 2,170
Current assets
Cash at bank and in hand: 4,360
Total current assets: 4,360
Creditors: amounts falling due within one year: 4 ( 6,050 )
Net current assets (liabilities): (1,690)
Total assets less current liabilities: 480
Total net assets (liabilities): 480
Members' funds
Profit and loss account: 480
Total members' funds: 480

The notes form part of these financial statements

FROM LOFT TO LOVED WORKSHOPS C.I.C.

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 16 August 2024
and signed on behalf of the board by:

Name: Kimberly Campbell
Status: Director

The notes form part of these financial statements

FROM LOFT TO LOVED WORKSHOPS C.I.C.

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

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023
    Average number of employees during the period 2

    Part time

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 2,552 1,565 4,117
Disposals
Revaluations
Transfers
At 31 December 2023 2,552 1,565 4,117
Depreciation
Charge for year 382 1,565 1,947
On disposals
Other adjustments
At 31 December 2023 382 1,565 1,947
Net book value
At 31 December 2023 2,170 0 2,170

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023
£
Taxation and social security 505
Accruals and deferred income 5,545
Total 6,050

COMMUNITY INTEREST ANNUAL REPORT

FROM LOFT TO LOVED WORKSHOPS C.I.C.

Company Number: 14558234 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The company runs several craft groups and sessions for members of the local and neighbouring communities. Originally operating as part of a business since June 2016. The social crafting side developed into a Community Interest Company in December 2022. Runing 3 weekly craft sessions and 2 weekly sewing session. Each session is attended by up to 10 women. Resulting in over 60 women aged between 14 - 92 benefiting from the weekly groups.The craft group activities have benefited the community in the following ways:- Older members who may feel isolated come together to join in, in shared crafting activities. This gives them a regular social activity that becomes part of their routine. Members have reported how this helps with feelings of loneliness and provides them with a safe space to chat.- Members who struggle financially can come and join in with craft activities and have access to equipment that they otherwise may not be able to afford. - Members who have struggles with mental health issues to varying degrees. Consistently report how much the group helps them. Giving them a chance to either distract themselves, talk to others in the group or participate in mindful activities. - Members can develop skills which allow them to recycle, fix and improve their possessions. For example, furniture. This has allowed members to save money on buying new things and further benefits the wider community and environment by encouraging recycling. - The groups have also supported the part time employment of 2 members of staff from the direct community.

Consultation with stakeholders

Members of all the craft groups are consulted on a bi-monthly bases as a minimum. However, generally whenever a suggestion is made or a request for specific activities or equipment is made from group members it it dealt with as it comes up. When applying for funding members of the groups are consulted more formally. For example, consulting with them on what equipment they believe would benefit the groups. Members are actively encourage to have full ownership of the sessions and what happens in them.

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
16 August 2024

And signed on behalf of the board by:
Name: Kimberly Campbell
Status: Director