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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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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Interest receivable and similar income: |
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Profit(or loss) before tax: |
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Tax: |
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(
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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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Current assets | |||
Debtors: | 3 |
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Cash at bank and in hand: |
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Total current 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: |
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
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Total Shareholders' funds: |
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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
Turnover policy
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
2023 | 2022 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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for the Period Ended 31 December 2023
2023 | 2022 | |
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£ | £ | |
Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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for the Period Ended 31 December 2023
2023 was a year of continued growth for RIFT Social Enterprise, both in terms of the impact that we had on our participants, their families and their local communities, and for our team which saw the addition of new members of staff, an increased use of volunteer support and a greater reach across a number of diverse contracts. 2023 also saw the commencement of our Women into Self-Employment (WISE) project; a two-year fully grant-funded action-learning programme with the aim of empowering women with criminal convictions in England through self-employment. The goal of this project is to bring positive change to the prison system and advocate for integrating self-employment support into core prison education programmes. We supported 1018 participants during the year with their self-employment goals, an increase of 14%, and our contracts grew by a similar percentage, predominantly across the DWP Restart landscape where, by the end of the year, we were supporting 17 different organisations across the UK.
We have three main stakeholders: our participants and the staff from our two main contracts: CFO3 and DWP Restart. During 2023 we were able to continue to take full advantage of our new Case Record Management System to automate much of our stakeholder engagement, thus ensuring that feedback questionnaires, opinion polls and newsletters etc could be sent en masse and the results collated and interrogated much quicker than previously. Additionally, we were proactive in pushing our social media channels, with engagement across three different platforms increasing by over 100% and our reputation as a leading provider of self-employment support across the UK being strengthened. The work that we started via the WISE project was the first of its kind for a prison-based project in as much as every women’s prison was consulted via focus groups and/or questionnaires about the challenges that they face when exploring self-employment as an option on release. The responses to this large-scale consultation exercise helped shape the delivery model for the WISE project and we look forward to seeing the impact it has had, and the recommendations it makes, in 2024.
Please see attached accounts for details on director's remuneration and other transactions with the directors. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
19 September 2024
And signed on behalf of the board by:
Name: Mr Andrew Gullick
Status: Director