RENEW MALMESBURY CIC

Company limited by guarantee

Company Registration Number:
13570096 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

RENEW MALMESBURY CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

RENEW MALMESBURY CIC

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

The principal activity of the company during the period was a retail shop selling recycled materials, delivery of educational workshops to increase knowledge and skills of environmental issues, provide a collection point for difficult to recycle products and to provide an environmental hub for the community.



Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

Margaret Lamb
Campbell Ritchie
Dr Laura Morgan Forster


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
20 September 2024

And signed on behalf of the board by:
Name: Margaret Lamb
Status: Director

RENEW MALMESBURY CIC

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 37,156 84,088
Cost of sales: ( 29,421 ) ( 62,103 )
Gross profit(or loss): 7,735 21,985
Administrative expenses: ( 12,286 ) ( 25,212 )
Other operating income: 0 2,000
Operating profit(or loss): (4,551) (1,227)
Profit(or loss) before tax: (4,551) (1,227)
Profit(or loss) for the financial year: (4,551) (1,227)

RENEW MALMESBURY CIC

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 0 925
Total fixed assets: 0 925
Current assets
Stocks: 4 0 11,000
Cash at bank and in hand: 25,102 21,812
Total current assets: 25,102 32,812
Creditors: amounts falling due within one year: 5 ( 31,236 ) ( 34,901 )
Net current assets (liabilities): (6,134) (2,089)
Total assets less current liabilities: (6,134) ( 1,164)
Creditors: amounts falling due after more than one year: 6 0 ( 4,500 )
Total net assets (liabilities): (6,134) (5,664)
Members' funds
Profit and loss account: (6,134) ( 5,664)
Total members' funds: ( 6,134) (5,664)

The notes form part of these financial statements

RENEW MALMESBURY CIC

Balance sheet statements

For the year ending 31 August 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 20 September 2024
and signed on behalf of the board by:

Name: Margaret Lamb
Status: Director

The notes form part of these financial statements

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and machinery between 3 and 5 years straight line Fixtures and fittings 5 years straight line

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 7,556 7,556
Additions
Disposals ( 7,556 ) ( 7,556 )
Revaluations
Transfers
At 31 August 2024 0 0
Depreciation
At 1 September 2023 6,631 6,631
Charge for year 608 608
On disposals ( 7,239 ) ( 7,239 )
Other adjustments
At 31 August 2024 0 0
Net book value
At 31 August 2024 0 0
At 31 August 2023 925 925

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Stocks

2024 2023
£ £
Stocks 0 11,000
Total 0 11,000

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 0 3,527
Other creditors 31,236 31,374
Total 31,236 34,901

RENEW MALMESBURY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

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

2024 2023
£ £
Other creditors 0 4,500
Total 0 4,500

COMMUNITY INTEREST ANNUAL REPORT

RENEW MALMESBURY CIC

Company Number: 13570096 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

The company ran a retail shop called Renew until 31 January 2024, a gift store in the High Street with a particular emphasis on selling goods made from recycled materials . Renew also offered courses to adults and children, community printing services and room hire. The business started to operate in December 2021. During the financial year 2023-2024, the company's activities have benefited the community in the following ways: it has provided residents and visitors with an easy way of purchasing eco goods to support sustainable life styles - bringing a different choice to the High Street. it has provided numerous courses and educational opportunities for the community- adults and children the community printing service has been very well received and supported individuals and organisations our rooms have been well used by community groups. we employed 4 staff members on a part time basis and offered work experience placement to young people and developed a local volunteering team. Up until the closure of the shop we have given many opportunities for local people to sell their recycled products in the shop

Consultation with stakeholders

The companys stakeholders are residents of and visitors to Malmesbury, and local producers of recycled products in the surrounding area. The directors of the company have lived in Malmesbury for a number of years and developed the business model for the shop based on their experience of talking to residents. Up until the closure of the shop we regularly consulted our customers when they were in the shop and keep a log of suggestions to be actioned. We also have volunteer meetings and steering committee meetings which enable us to harness suggestions from the staff team and key community members who we have invited onto the steering committee. We consult the community about our course offer through social media.

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
20 September 2024

And signed on behalf of the board by:
Name: Margaret Lamb
Status: Director