101 SOCIAL CIC

Company Registration Number:
12372060 (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

101 SOCIAL 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

101 SOCIAL CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 20,310 5,370
Cost of sales: ( 13,644 ) 0
Gross profit(or loss): 6,666 5,370
Distribution costs: ( 1,050 ) ( 98 )
Administrative expenses: ( 16,621 ) ( 13,531 )
Operating profit(or loss): (11,005) (8,259)
Interest payable and similar charges: ( 42 ) ( 395 )
Profit(or loss) before tax: (11,047) (8,654)
Profit(or loss) for the financial year: (11,047) (8,654)

101 SOCIAL CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,300 2,168
Total fixed assets: 1,300 2,168
Current assets
Debtors: 4 1,000 4,758
Cash at bank and in hand: 1,714 8,765
Total current assets: 2,714 13,523
Creditors: amounts falling due within one year: 5 ( 1,499 ) ( 2,185 )
Net current assets (liabilities): 1,215 11,338
Total assets less current liabilities: 2,515 13,506
Creditors: amounts falling due after more than one year: 6 ( 19,916 ) ( 21,160 )
Total net assets (liabilities): (17,401) (7,654)
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: (18,401 ) (8,654 )
Total Shareholders' funds: ( 17,401 ) (7,654)

The notes form part of these financial statements

101 SOCIAL 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: Dario Colombo
Status: Director

The notes form part of these financial statements

101 SOCIAL 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 Financial Reporting Standard 101

101 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 2

101 SOCIAL 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 1,646 522 2,168
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 1,646 522 2,168
Depreciation
At 1 January 2023 0 0 0
Charge for year 646 222 868
On disposals
Other adjustments
At 31 December 2023 646 222 868
Net book value
At 31 December 2023 1,000 300 1,300
At 31 December 2022 1,646 522 2,168

101 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 4,758
Other debtors 1,000
Total 1,000 4,758

101 SOCIAL CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 1,499 2,185
Total 1,499 2,185

101 SOCIAL 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 19,916 21,160
Total 19,916 21,160

COMMUNITY INTEREST ANNUAL REPORT

101 SOCIAL CIC

Company Number: 12372060 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The space now has a calendar for events and regular activities (e.g. film night, textile club, open mic, experimental music night, and more) and an excellent user base and reviews. Since last July, the community has been invited to co-curate the program with the director. This is particularly interesting because: - This gives a snapshot of the local demographics and their preferences and needs - Enhances communication between all stakeholders - Greatly enriches the programme of activities - Boosts promotion - Attracts people willing to volunteer and contribute in a number of ways (For example we have recently launched the fortnightly Home Energy Hub led by a local engineer who explains and discusses how to understand energy, reduce bills, insulation and draught proofing and more. Saturdays are mainly reserved to birthday parties and other functions, with excellent reviews. We are currently running a Soup Kitchen that will take place every Sunday, serving free soup and more for two hours around lunchtime. We're also setting up a Free Shop in the entrance space where people can take what they need free of charge and drop what they don't. As already mentioned we have regular film nights and meditation class always by donations.. Poverty and isolation are the main issues that we are faced with on a daily basis. We are thrilled to see that our original idea to engage with a cross section of the community as wide as possible also in terms of age, background and personal inclinations, and to encourage communication and mutual support beyond any categories is gradually happening with extremely exciting results.

Consultation with stakeholders

The company's main stakeholder is the community of Cliftonville, and especially of the Northdown Road area. Participation has been growing over time and as we promote activities, expand the programme, and even as we are simply there for local people as a safe, affordable and welcoming space for all. The cafe and bistro (managed by a separate company) is a real magnet attracting the public as it offers a high-quality menu at the lowest prices in town, with excellent reviews. The two entities (social space + cafe) work together in excellent balance. We regularly invite the local Ward's Councillors to meet their constituents in an informal environment. We believe that inviting dialogue with our local politicians and creating opportunities for everybody to see how the Council is itself a part of the community is key to development and harmony. Last February we have formed an Advisory Committee of local residents giving feedback on the progress of the company, primarily in terms of community impact, with advice on how to enhance it further. We have appointed one new Non-Executive Director, and are currently in the process of appointing a second one. Since the two original directors are related (married couple), this creates more balance in the management and gives the company access to more funding opportunities.

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
30 September 2024

And signed on behalf of the board by:
Name: Dario Colombo
Status: Director