DEVELOPWISE CIC

Company limited by guarantee

Company Registration Number:
13432729 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

DEVELOPWISE CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

DEVELOPWISE CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The principal activities of the company in the period under review includes provision of educational activities in video production activities and other Vocational training and development with special emphasis on the youth.

Political and charitable donations

The company is a politically neutral organisation and does not engage in party political campaigning or make party political donations. The company does not give any money for political purposes in the United Kingdom, or outside of the United Kingdom, nor does it make any political donations to political parties or other political organisations, or to any independent election candidates, or incur any political expenditure. However, the company welcomes and encourages charitable fundraising efforts from staff, particularly where they assist the Company’s commitment to and contributing to the reduction of deprivation and supporting those in economic need. The company includes a specific charity budget in its business plan each year, and this policy is used, to ensure the budget can be distributed to best effect, and to those charities that fit with the company’s purpose and values.

Company policy on disabled employees

The company has a policy to give employment to disabled persons whenever practicable. At the present period under review, there were no people with disability employed by the company.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Oladele Opeyemi Olusoga AWOYEMI
Timothy Paul Mason
Simon Mitchell


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
30 August 2024

And signed on behalf of the board by:
Name: Oladele Opeyemi Olusoga AWOYEMI
Status: Director

DEVELOPWISE CIC

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Administrative expenses: ( 11,197 ) ( 3,232 )
Other operating income: 15,472 5
Operating profit(or loss): 4,275 (3,227)
Profit(or loss) before tax: 4,275 (3,227)
Profit(or loss) for the financial year: 4,275 (3,227)

DEVELOPWISE CIC

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 3,284 3,892
Total current assets: 3,284 3,892
Creditors: amounts falling due within one year: 3 ( 2,235 ) ( 7,118 )
Net current assets (liabilities): 1,049 (3,226)
Total assets less current liabilities: 1,049 ( 3,226)
Total net assets (liabilities): 1,049 (3,226)
Members' funds
Profit and loss account: 1,049 ( 3,226)
Total members' funds: 1,049 (3,226)

The notes form part of these financial statements

DEVELOPWISE CIC

Balance sheet statements

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

Name: Oladele Opeyemi Olusoga AWOYEMI
Status: Director

The notes form part of these financial statements

DEVELOPWISE CIC

Notes to the Financial Statements

for the Period Ended 30 June 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

    Other accounting policies

    Accounting policies The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. Basis of preparation The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. Presentation currency The accounts are presented in £ sterling.

DEVELOPWISE CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

DEVELOPWISE CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 2,235 3,968
Other creditors 3,150
Total 2,235 7,118

COMMUNITY INTEREST ANNUAL REPORT

DEVELOPWISE CIC

Company Number: 13432729 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

We ran sessions for the residents of the communities that are experiencing crimes especially violent crimes in Bedford, Luton and surrounding areas where together as part of our Bedfordshire Against Crime Community Project, the participants and ourselves explored how to engage people away from criminality, review ways to reduce crimes especially violent crimes and as a community support offenders to be integrated back into the community. Bedfordshire Against Crime Community Project made us aware of the need for more support for parents in our community. We also support local businesses by with trade as we use mainly local business to provide services for our project. We ran some workshops that helped local people as part of our project called Luton Elevate Project. Workshops equipped the attendees with the skills to Rise above the Cost Of Living Crisis. We ran a Financial Planning, Budgeting and Passions and Skills Monetising workshops. We equip the attendees with knowledge on how they can manage their finances better. We supported some of our attendees to set up their own businesses. We also support local businesses with trade as we use mainly local business to provide services for our project.

Consultation with stakeholders

We consulted our users on which activities they will like us to run next year. They mentioned a family fun day, a careers day and career workshops for young people.

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
30 August 2024

And signed on behalf of the board by:
Name: Oladele Opeyemi Olusoga AWOYEMI
Status: Director