WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Company limited by guarantee

Company Registration Number:
08762314 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Contents of the Financial Statements

for the Period Ended 30 November 2023

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

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Principal activities of the company

Business Support activities for new and existing small businesses in Wolverhampton.

Company policy on disabled employees

We are a non-discriminatory cic organization providing our services to all able and disable men and women.

Additional information

All our Directors are volunteers and not remunerated.



Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 30 November 2023

Sam Duru
Janet Smith
Michael Bolorunduro
Jennifer Samuels
Henry Sappor
Eunice Ofoegbu


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
24 August 2024

And signed on behalf of the board by:
Name: Sam Duru
Status: Director

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 5,646 5,900
Cost of sales: ( 6,230 ) ( 5,330 )
Gross profit(or loss): (584) 570
Operating profit(or loss): (584) 570
Profit(or loss) before tax: (584) 570
Profit(or loss) for the financial year: (584) 570

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 75
Investments:   0 0
Total fixed assets: 0 75
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 14,000 4,486
Investments:   0 0
Total current assets: 14,000 4,486
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 14,000 4,486
Total assets less current liabilities: 14,000 4,561
Creditors: amounts falling due after more than one year: 4 ( 584 ) 0
Total net assets (liabilities): 13,416 4,561
Members' funds
Profit and loss account: 13,416 4,561
Total members' funds: 13,416 4,561

The notes form part of these financial statements

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Balance sheet statements

For the year ending 30 November 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 24 August 2024
and signed on behalf of the board by:

Name: Sam Duru
Status: Director

The notes form part of these financial statements

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Notes to the Financial Statements

for the Period Ended 30 November 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

    As a CIC all money received are used to the benefit of our small business community in Wolverhampton

    Other accounting policies

    Our Accounts was prepared in accordance with section 477 of the companies Act 2006 as well as section 386 and 396 of same Act.

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

    All our services are delivered by out-sourcing. No one is directly employed by the Network

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 75 75
Additions 0 0
Disposals
Revaluations 0 0
Transfers
At 30 November 2023 75 75
Depreciation
At 1 December 2022 0 0
Charge for year 75 75
On disposals
Other adjustments
At 30 November 2023 75 75
Net book value
At 30 November 2023 0 0
At 30 November 2022 75 75

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 584 0
Total 584 0

COMMUNITY INTEREST ANNUAL REPORT

WOLVERHAMPTON BLACK BUSINESS NETWORK CIC

Company Number: 08762314 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

In the year ended 30th November 2023, WBBN have has several workshops and an annual business conference to support small businesses in Wolverhampton the surrounding areas. We have represented the community at various business engagements including the Black Business Show at the NEC in June 2023. We have worked with other organisations such as Access to Business; City of Wolverhampton Council to promote the activities of Wolverhampton Business Community. We sit on a sub-group called the economic growth board to promote and project the interest of small businesses in the area.

Consultation with stakeholders

We have through our Network meetings consulted our stakeholders in various matters concerning business in Wolverhampton. Our stakeholders are small businesses in Wolverhampton with majority ownership from the Black and Ethnic Minorities in the area. We have bi-monthly Director’s meeting where we share information and decide on strategies to support business. Our business network meeting attracts about 20 -25 business owner each time. We send out mailings to our stakeholders- who are local small businesses on matters of interest to their business We engage with other organisations to share information about small businesses and good practice We represent the businesses at the local authority platforms on matters concerning business.

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
24 August 2024

And signed on behalf of the board by:
Name: Sam Duru
Status: Director