KINGSTON BEATS C.I.C.

Company limited by guarantee

Company Registration Number:
14013590 (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

KINGSTON BEATS C.I.C.

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

KINGSTON BEATS C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2023

2023 9 months to 31 December 2022


£

£
Turnover: 91,464 22,040
Cost of sales: ( 58,545 ) ( 14,453 )
Gross profit(or loss): 32,919 7,587
Administrative expenses: ( 18,181 ) ( 2,042 )
Operating profit(or loss): 14,738 5,545
Profit(or loss) before tax: 14,738 5,545
Tax: ( 2,935 ) ( 878 )
Profit(or loss) for the financial year: 11,803 4,667

KINGSTON BEATS C.I.C.

Balance sheet

As at 31 December 2023

Notes 2023 9 months to 31 December 2022


£

£
Fixed assets
Tangible assets: 3 505 673
Total fixed assets: 505 673
Current assets
Debtors: 4 0 699
Cash at bank and in hand: 24,058 16,174
Total current assets: 24,058 16,873
Creditors: amounts falling due within one year: 5 ( 7,911 ) ( 12,879 )
Net current assets (liabilities): 16,147 3,994
Total assets less current liabilities: 16,652 4,667
Total net assets (liabilities): 16,652 4,667
Members' funds
Profit and loss account: 16,652 4,667
Total members' funds: 16,652 4,667

The notes form part of these financial statements

KINGSTON BEATS C.I.C.

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 27 September 2024
and signed on behalf of the board by:

Name: Pui Yuk Wong
Status: Director

The notes form part of these financial statements

KINGSTON BEATS C.I.C.

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

    Revenue is recognized when it is probable that the economies benefits will flow to the Company and when the revenue can be measured reliably, on the following bases:- Community grants are recognised in accordance with the substance of the agreement. Income of workshop is recognised on a proportion basis when the relevant services are rendered.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. Fixtures, fittings, tools and equipment over 5 years

    Other accounting policies

    The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

KINGSTON BEATS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 9 months to 31 December 2022
    Average number of employees during the period 2 0

KINGSTON BEATS C.I.C.

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 841 841
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 841 841
Depreciation
At 1 January 2023 168 168
Charge for year 168 168
On disposals
Other adjustments
At 31 December 2023 336 336
Net book value
At 31 December 2023 505 505
At 31 December 2022 673 673

KINGSTON BEATS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 9 months to 31 December 2022
£ £
Trade debtors 0 386
Other debtors 0 313
Total 0 699

KINGSTON BEATS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 9 months to 31 December 2022
£ £
Trade creditors 4,959
Taxation and social security 4,218 878
Accruals and deferred income 2,692 7,042
Other creditors 1,001 0
Total 7,911 12,879

COMMUNITY INTEREST ANNUAL REPORT

KINGSTON BEATS C.I.C.

Company Number: 14013590 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

PRINCIPAL ACTIVITIES Kingston Beats is a community interest company founded in March 2022 by recent migrants from Hong Kong settling in Kingston. The organisation's mission is to create a support network for Hongkongers who have recently immigrated, helping them maintain their cultural heritage while contributing to the well-being and development of the local community. Operated on a non-profit basis and powered by volunteers, Kingston Beats delivers a wide range of workshops, events, and activities to serve the growing Hong Kong community in southwest London. The organisation also actively collaborates with various community groups to foster social participation and cultural exchange, connecting Hongkongers with local residents and other ethnic communities. SERVICE REVIEW In 2023, Kingston Beats delivered over 360 sessions, totaling 600 hours of activities, to meet the diverse needs, interests, and aspirations of more than 6,000 attendees. New projects were launched to welcome recently arrived Hongkongers and to support older adults and families in their early stages of settlement. Most activities were funded by local authorities and charities, with some regular interest classes and activities operating on a self-financed basis. Key funded projects included: - Families Together (supported by The Royal Borough of Kingston upon Thames): Held on Saturdays, these interest classes and social activities provided a safe and welcoming environment for Hong Kong families to relax, build friendships, and strengthen family bonds. - Grow Well Together (supported by Thrive London): A pilot project for Hongkongers aged 60+ focused on learning and practicing the 5 steps to well-being: be active, keep learning, connect with others, take notice, and give. - Welcome Hongkongers (supported by the Mayor of London): A comprehensive service programme offering a wide range of activities to connect and support Hongkongers with diverse needs, fostering mutual help, creating positive experiences, and enhancing well-being. - Hong Kong Yummy Club (supported by The Royal Borough of Kingston upon Thames): These food-sharing events and cooking demonstrations promoted healthy and joyful living, while fostering social connections to improve overall well-being. - WE Club (supported by Kingston Charitable Foundation): A pilot project aimed at promoting physical and psychological well-being through wellness activities, while creating a welcoming hub for Hong Kong migrants to connect and socialize. Kingston Beats maintains sound financial management practices. The reported surplus is partly due to the timing of grant receipts for upcoming projects. The Directors prudently manage the surplus, using it to build a reserve for the organisation’s sustainable development and to fund much-needed projects and ongoing services that lack external funding.

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
27 September 2024

And signed on behalf of the board by:
Name: Pui Yuk Wong
Status: Director