INSECTA COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
14618498 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 26 January 2023

End date: 31 January 2024

INSECTA COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

INSECTA COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024


£
Turnover: 5,612
Cost of sales: ( 5,544 )
Gross profit(or loss): 68
Administrative expenses: ( 646 )
Operating profit(or loss): (578)
Profit(or loss) before tax: (578)
Tax: ( 9 )
Profit(or loss) for the financial year: (587)

INSECTA COLLECTIVE CIC

Balance sheet

As at 31 January 2024

Notes 2024


£
Fixed assets
Tangible assets: 3 51
Total fixed assets: 51
Current assets
Cash at bank and in hand: 525
Total current assets: 525
Creditors: amounts falling due within one year: 4 ( 1,154 )
Net current assets (liabilities): (629)
Total assets less current liabilities: (578)
Provision for liabilities: ( 9 )
Total net assets (liabilities): (587)
Members' funds
Profit and loss account: (587)
Total members' funds: ( 587)

The notes form part of these financial statements

INSECTA COLLECTIVE CIC

Balance sheet statements

For the year ending 31 January 2024 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 4 September 2024
and signed on behalf of the board by:

Name: Elizabeth Jane Dyer
Status: Director

The notes form part of these financial statements

INSECTA COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 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 VAT and trade discounts. Sales of goods are recognised when goods are delivered, and title has passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over their expected useful lives as follows: - Plant and machinery: 25% straight line

    Other accounting policies

    Government grant Government grants are recognised at the fair value of the asset received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance, it is recognised in income when the proceeds are received. Tax Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred Tax Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax basis used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Deferred tax is calculated at the tax rates that are expected to apply to the period when the liability is settled or the asset realised. Deferred tax is charged or credited in the statement of comprehensive income, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Limited by Guarantee The company has no issued equity. The company is limited by guarantee. The directors' liability is limited to £1 each.

INSECTA COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

    The company has no employees. Its day-to-day activities are managed by its highly dedicated and experienced members and volunteers.

INSECTA COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 60 60
Disposals
Revaluations
Transfers
At 31 January 2024 60 60
Depreciation
Charge for year 9 9
On disposals
Other adjustments
At 31 January 2024 9 9
Net book value
At 31 January 2024 51 51

INSECTA COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due within one year note

2024
£
Accruals and deferred income 1,154
Total 1,154

COMMUNITY INTEREST ANNUAL REPORT

INSECTA COLLECTIVE CIC

Company Number: 14618498 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The company provided free and low-cost arts and biodiversity themed workshops and events to families in areas of high economic deprivation in Leicester and Leicestershire, to allow people on low incomes opportunities to engage with high quality arts activities, whilst learning about the environment, nature and climate change. We taught art skills including printmaking, paper crafts and journalling to young people, allowing them to learn techniques that aren’t usually taught in schools. We handed out over 250 packets of free wildflower seed with growing instructions. We accepted entries from amateur and professional artists of all ages around the world in our ‘A Celebration of Biodiversity’ open call art exhibition, and exhibited their work both digitally and at a city centre gallery space, breaking barriers between amateur and professional artists, and giving young people a platform to exhibit and sell their artwork, alongside the work of professionals, in a city centre location. We provided unique voluntary work experience opportunities to adults and teens, as workshop assistants. Our events encouraged participants to look more closely at nature, spend more time outdoors, and appreciate their gardens more.

Consultation with stakeholders

Our stakeholders are the communities we work with. We always collect written and verbal feedback at our workshops and events. This helps us to make changes to our delivery, and deliver more of what the communities want. We have also run digital surveys to collect data and feedback from the communities we work with. We encourage open conversation and informal, verbal feedback during our events, this is evaluated as part of our ongoing commitment to create great experiences for our communities.

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
22 July 2024

And signed on behalf of the board by:
Name: Elizabeth Jane Dyer
Status: Director