PROJECT ZERO WF CIC

Company limited by guarantee

Company Registration Number:
12230813 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

PROJECT ZERO WF CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

PROJECT ZERO WF 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

Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

Nia Gichie


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 September 2024

And signed on behalf of the board by:
Name: Nia Gichie
Status: Director

PROJECT ZERO WF CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Cost of sales: ( 178,986 ) ( 125,980 )
Gross profit(or loss): (178,986) (125,980)
Administrative expenses: ( 192,573 ) ( 183,441 )
Other operating income: 391,842 313,477
Operating profit(or loss): 20,283 4,056
Interest payable and similar charges: ( 300 ) ( 356 )
Profit(or loss) before tax: 19,983 3,700
Profit(or loss) for the financial year: 19,983 3,700

PROJECT ZERO WF CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 23,084 3,234
Total fixed assets: 23,084 3,234
Current assets
Debtors: 4 92,041 27,098
Cash at bank and in hand: 6,217 20,076
Total current assets: 98,258 47,174
Creditors: amounts falling due within one year: 5 ( 59,019 ) ( 40,811 )
Net current assets (liabilities): 39,239 6,363
Total assets less current liabilities: 62,323 9,597
Creditors: amounts falling due after more than one year: 6 ( 4,649 ) ( 6,497 )
Accruals and deferred income: ( 34,591 )
Total net assets (liabilities): 23,083 3,100
Members' funds
Profit and loss account: 23,083 3,100
Total members' funds: 23,083 3,100

The notes form part of these financial statements

PROJECT ZERO WF 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 30 September 2024
and signed on behalf of the board by:

Name: Nia Gichie
Status: Director

The notes form part of these financial statements

PROJECT ZERO WF 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 for goods and services provided in the normal course of business, net of discounts and value added taxes.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated capital and reserves in respect of that asset, the excess is recognised in profit or loss. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over the useful lives on the following basis Computer Equipment 25% Reducing Balance

    Other accounting policies

    Government grants Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

PROJECT ZERO WF CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 10 2

PROJECT ZERO WF 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 5,750 0 5,750
Additions 27,544 27,544
Disposals
Revaluations
Transfers
At 31 December 2023 5,750 27,544 33,294
Depreciation
At 1 January 2023 2,516 0 2,516
Charge for year 808 6,886 7,694
On disposals
Other adjustments
At 31 December 2023 3,324 6,886 10,210
Net book value
At 31 December 2023 2,426 20,658 23,084
At 31 December 2022 3,234 0 3,234

PROJECT ZERO WF CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 92,041
Prepayments and accrued income 27,098
Total 92,041 27,098

PROJECT ZERO WF CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 59,019 40,811
Total 59,019 40,811

PROJECT ZERO WF CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

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

2023 2022
£ £
Bank loans and overdrafts 4,649 6,497
Total 4,649 6,497

COMMUNITY INTEREST ANNUAL REPORT

PROJECT ZERO WF CIC

Company Number: 12230813 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Project Zero WF CIC (Waltham Forest Community Interest Company) Engaging young people in positive activities to promote social inclusion, reduce anti-social / offending behaviour and strengthen community cohesion. Our aim is to see a year when there has been ZERO deaths of a young person from knife or a violent crime. Project Zero, a dynamic and engaging youth engagement program designed to provide exciting and fun activities for young people. Our program is dedicated to creating a safe space for youth to explore their interests and passions while fostering personal growth, teamwork, and self-expression. At Project Zero, we understand the importance of providing a diverse range of activities that cater to the varied interests of young individuals. We have carefully curated a line up of sports, media, gaming, arts and crafts, music, and more, ensuring that every participant finds something they love and enjoy participating in. Our team of staff members is not only highly experienced but also carefully vetted to guarantee the safety and well-being of all participants. We prioritize the well-established background of our staff, ensuring that they possess the knowledge, skills, and passion to engage with and inspire young minds. Whether it's trying out a new sport, exploring various media platforms, challenging themselves with gaming competitions, unleashing their creativity through arts and crafts, or discovering their musical talents, Project Zero provides a wide range of opportunities for youth to thrive and discover their strengths. Our program takes great pride in maintaining a safe and conducive environment, where youth can freely express themselves without fear of judgment. We prioritize creating a space where young people can feel comfortable, supported, and encouraged to explore their potential. From established facilities to stringent safety protocols, Project Zero ensures that the overall well-being of our participants is of utmost importance. We provide a program that combines excitement, creativity, and personal growth, while fostering friendships, teamwork, and the development of valuable life skills. Discover the limitless possibilities with Project Zero and witness the transformative impact it can have on the lives of youth.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The directors remuneration is £28,896.00

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 September 2024

And signed on behalf of the board by:
Name: Nia Gichie
Status: Director