THE RECOVERY COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
SC616983 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

THE RECOVERY COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

THE RECOVERY COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 992 8,600
Cost of sales: ( 7,100 )
Gross profit(or loss): 992 1,500
Administrative expenses: ( 400 ) ( 2,492 )
Operating profit(or loss): 592 (992)
Profit(or loss) before tax: 592 (992)
Profit(or loss) for the financial year: 592 (992)

THE RECOVERY COLLECTIVE CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 0 400
Total fixed assets: 0 400
Creditors: amounts falling due within one year: 4 ( 649 ) ( 1,870 )
Net current assets (liabilities): (649) (1,620)
Total assets less current liabilities: (649) ( 1,220)
Creditors: amounts falling due after more than one year: 5 ( 1,382 ) ( 1,382 )
Total net assets (liabilities): (2,031) (2,602)
Members' funds
Profit and loss account: (2,031) ( 2,602)
Total members' funds: ( 2,031) (2,602)

The notes form part of these financial statements

THE RECOVERY COLLECTIVE 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.

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

Name: DEREK WATT
Status: Director

The notes form part of these financial statements

THE RECOVERY COLLECTIVE 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

    Other 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.

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 1,600 1,600
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 1,600 1,600
Depreciation
At 1 January 2023 1,200 1,200
Charge for year 400 400
On disposals
Other adjustments
At 31 December 2023 1,600 1,600
Net book value
At 31 December 2023 0 0
At 31 December 2022 400 400

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 21
Accruals and deferred income 628 1,870
Total 649 1,870

THE RECOVERY COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

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

2023 2022
£ £
Other creditors 1,382 1,382
Total 1,382 1,382

COMMUNITY INTEREST ANNUAL REPORT

THE RECOVERY COLLECTIVE CIC

Company Number: SC616983 (Scotland)

Year Ending: 31 December 2023

Company activities and impact

The Recovery Collective is a community interest company formed in November 2018 with the idea to create a free recovery focused music festival for people in recovery from addiction and mental health, homelessness and social isolation. We came together because of our love of music and recovery and we wanted to create an event that not only people in recovery could enjoy as it was alcohol free and a safe environment but also something the whole community could enjoy. We hosted our first event in May 2019 with great success and built up great partnerships with other CIC and recovery communities that believed in the work that we were doing and wanted to support that work. Our main partner for the event that we put on called Recovery Connects was In-House CIC and they supported us with the venue and sound and technical support. The Recovery Collective is only made up of our three directors and none of us pay ourselves for any of the work we do with The Recovery Collective it is all on a voluntary basis so all money that comes into the orginisation through sponsorship or grants is spent on the event we put on Recovery Connects and to buy or rent the equipment or services we need for that event. Towards the end of 2022 The Recovery Collective decided that we wanted to become a registered charity (SCIO) below is the statement we made in our 2022 directors report. After some reflection of our time hosting this event The Recovery Collective has came to the decision that we are going to change the status of our organisation from a CIC to a registered charity our rea-soning for this is, none of us within the group are looking to make any financial gain from the organi-sation so feel we are more suited as SCIO rather than CIC. In order for us to begin this process we were advised to tie up our accounts for 2022 and make no spend in 2023 so with that in mind we made a donation to Scottish Recovery Consortium in December 2022 an organisation with similar values as our own, the amount is detailed within our accounts for 2022 and is accompanied by a thank you for donation letter. As of the end of the year 2022 The Recovery Collective has made no spend for the fi-nancial year 2023 and after submitting accounts for 2022 will begin the process of transition from CIC too SCIO. Since we made that above statement in our accounts and during the financial year of 2023 The Re-covery Collective spent some time pursuing becoming a registered charity but after some work and more learning of the process we made the decision to stay as CIC. We spent the year examining our reasons for becoming a SCIO and what that would mean for our small organisation and decided it made more sense for us to stay as a CIC, we at The Recovery Collective are all very new to organisa-tional infrastructures and processes so a lot of time was spent understanding what we were planning to do and then ultimately deciding becoming a SCIO wasn’t in our best interest. Due to this we never done any work in the year 2023 and the only payment that we made in 2023 was to our accountant for our 2022 accounts. This will be reflected in our accounts for 2023. We have however started working again as a CIC in 2024 and the accounts we produce next year will reflect this. Derek Watt The Recovery Collective

Consultation with stakeholders

No consultation with stakeholders

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: DEREK WATT
Status: Director