THE SNUGGERY (WALSALL) CIC

Company limited by guarantee

Company Registration Number:
14556002 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 23 December 2022

End date: 31 December 2023

THE SNUGGERY (WALSALL) CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE SNUGGERY (WALSALL) CIC

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

social work activities



Directors

The directors shown below have held office during the whole of the period from
23 December 2022 to 31 December 2023

Kathrine Ann Brueton
Christopher Paul Loxodonta
Victoria Loxodonta
Lisa Jayne Bird


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
23 September 2024

And signed on behalf of the board by:
Name: Victoria Loxodonta
Status: Director

THE SNUGGERY (WALSALL) CIC

Balance sheet

As at 31 December 2023

Notes 2023


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 2,506
Investments:   0
Total current assets: 2,506
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 3 ( 1,723 )
Net current assets (liabilities): 783
Total assets less current liabilities: 783
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 783
Members' funds
Profit and loss account: 783
Total members' funds: 783

The notes form part of these financial statements

THE SNUGGERY (WALSALL) CIC

Balance sheet statements

For the year ending 31 December 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 23 September 2024
and signed on behalf of the board by:

Name: Victoria Loxodonta
Status: Director

The notes form part of these financial statements

THE SNUGGERY (WALSALL) CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Other accounting policies

    Taxation Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

THE SNUGGERY (WALSALL) CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023
    Average number of employees during the period 4

THE SNUGGERY (WALSALL) CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Creditors: amounts falling due within one year note

2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 183
Accruals and deferred income 1,090
Other creditors 450
Total 1,723

COMMUNITY INTEREST ANNUAL REPORT

THE SNUGGERY (WALSALL) CIC

Company Number: 14556002 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The Snuggery CIC was set up to provide support to the Mentally disabled people of Walsall. By giving people a sense of safety, we have been able to connect with a range of people with diverse needs and wants, proving a good reputation for the first year of the CIC’s Business. We provide Food and drink to the company’s beneficiaries and volunteers, whom of which appreciate the hospitality, and it allows us to provide a more personal service. We have established a connection with social services and other enterprise to find the help that our beneficiaries often require for them to be safe in society. Furthermore, We have mentally disabled people that volunteer for us, which we feel is effective when liaising with the beneficiaries of the snuggery. We have computer facilities which are used for access to the internet, which allows us to set up bank accounts or fill in forms which often our beneficiaries are unable to do. From a monetary standpoint, Our volunteers have experienced benefits from us such as outsourced house renovations and furniture available in the shop, we also distribute assets to our beneficiaries when we are able. We are proud of the impact the snuggery is having on the community already, and we look forward to many more years of providing excellent service to the disabled people of Walsall.

Consultation with stakeholders

The main Stakeholders of the company are its Beneficiaries, Volunteers and Directors. Regular Meetings are taken place, and training is given to the volunteers of ‘The Snuggery’ to maintain proper competence due to the nature of the people ‘The Snuggery’ Benefits. Efficient communication is withheld using phone calls and emails, and we ensure that all stakeholders are treated with respect, and we go above and beyond in the communication we provide. As it is the first year of our operation, our stakeholders list is small as we are growing to be recognised by public and private sector companies that provide benefits to the public, such as social services.

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
23 September 2024

And signed on behalf of the board by:
Name: Victoria Loxodonta
Status: Director