for the Period Ended 31 December 2023
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2023 | 2022 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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Gross profit(or loss): |
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Administrative expenses: |
(
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(
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Operating profit(or loss): |
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( |
Profit(or loss) before tax: |
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( |
Profit(or loss) for the financial year: |
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( |
As at
Notes | 2023 | 2022 | |
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£ |
£ |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Creditors: amounts falling due within one year: | 4 |
(
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(
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Net current assets (liabilities): |
( |
( |
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Total assets less current liabilities: |
( |
( |
|
Creditors: amounts falling due after more than one year: | 5 |
(
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(
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Total net assets (liabilities): |
( |
( |
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Members' funds | |||
Profit and loss account: |
( |
( |
|
Total members' funds: |
( |
( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2023
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 December 2023
2023 | 2022 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 January 2023 |
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Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 December 2023 |
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Depreciation | ||||||
At 1 January 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 31 December 2023 |
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Net book value | ||||||
At 31 December 2023 |
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At 31 December 2022 |
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for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Taxation and social security |
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Accruals and deferred income |
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Total |
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for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Other creditors |
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Total |
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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
No consultation with stakeholders
No remuneration was received
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