SOLE CIRCLE UK CIC

Company limited by guarantee

Company Registration Number:
13691414 (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

SOLE CIRCLE UK CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

Profit and loss
Balance sheet
Additional notes
Community Interest Report

SOLE CIRCLE UK CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: ( 238 ) 0
Other operating income: 3,995
Operating profit(or loss): 3,757 0
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 3,757 0
Profit(or loss) for the financial year: 3,757 0

SOLE CIRCLE UK CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 3,757 0
Total current assets: 3,757 0
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 3,757 0
Total assets less current liabilities: 3,757 0
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 3,757 0
Members' funds
Profit and loss account: 3,757 0
Total members' funds: 3,757 0

The notes form part of these financial statements

SOLE CIRCLE UK 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: Rishika Bhalla
Status: Director

The notes form part of these financial statements

SOLE CIRCLE UK 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 Financial Reporting Standard 101

SOLE CIRCLE UK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

COMMUNITY INTEREST ANNUAL REPORT

SOLE CIRCLE UK CIC

Company Number: 13691414 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

We scaled our initiative by partnering with END. Clothing. As a retail giant within the footwear and streetwear sector, this partnership saw us hosting 2 events for the community centred around donating preloved footwear. The community was able to network and connect with like-minded people through these events, and we also used them as an opportunity to educate people further about footwear poverty and sustainability. We continued our partnership with NIKE and held 1 event where we gave the community a further opportunity to connect, donate shoes, and choose to engage in sustainable retail habits. Through these events, we collected over 250 pairs of preloved footwear, which were donated to individuals within the wider community. This includes school children who do not have access to adequate footwear for sports/PE, and adults who are rehabilitating their lives. Our work aids our charity partner Shoe Aid to comfortably deliver on the work that they do, as 8/10 requests they get for footwear are for sports/lifestyle shoes, which are the type of shoes we mostly collect from our community. Through us, the community have an outlet where they can donate their pre-loved shoes more conveniently, instead of sending them to landfill.

Consultation with stakeholders

The organisation’s stakeholders are the community members who donate their shoes through us/engage with us, our retail partner; END. Clothing, and our charity partner Shoe Aid. We keep an open line of communication with our retail partner so we are able to discuss how we can better engage the community in our initiative and grow our impact together. These consultations happen via video call on Zoom, and contribute to the outcome of the events we host, and the opportunities we can offer to our community.Our community members were consulted via a survey, as we wanted to gather general feedback about how our initiative is received by our supporters, as well as get an idea of what they’d like to see from us. No actions were taken from this survey particularly, however, it did push us to begin development of our website so our supporters can have more of a view about what we do and how they can get involved. We keep a direct line of communication open between ourselves and our charity partner Shoe Aid, whether that be through phone calls or email liaison. We allow Shoe Aid to have input on how we can grow awareness and impact around Shoe Poverty, as well as communicate the things we have achieved together. This has resulted in discussions about awareness campaigns that yet need to be further developed.

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
29 July 2024

And signed on behalf of the board by:
Name: Rishika Bhalla
Status: Director