LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
11429918 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The objects of the Company are to carry on practical activities benefiting the community and in particular (without limitation) to enhance the experience of living, working and visiting North Chingford, principally by enhancing and sustaining the village environment of the Town Centre (including the Chingford Green and North Chingford Conservation Areas) and making it a place to be proud of. The Company also leases from Arriva Rail London part of Chingford Overground Station known as the Chingford Community Hub. The company aims to further develop the sense of community by taking positive actions to enhance the environment, arranging events, activities and supporting local businesses and arts.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Roger Brown
Silvia Garrido Kemp
Stephen Murphy
Juliana Roche


The director shown below has held office during the period of
1 July 2023 to 8 January 2024

Elizabeth Murray


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
6 August 2024

And signed on behalf of the board by:
Name: Roger Brown
Status: Director

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 24,410 24,749
Cost of sales: ( 12,257 ) ( 28,083 )
Gross profit(or loss): 12,153 (3,334)
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 12,153 (3,334)
Profit(or loss) before tax: 12,153 (3,334)
Tax: ( 2,309 )
Profit(or loss) for the financial year: 9,844 (3,334)

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 1,538 12,048
Cash at bank and in hand: 29,885 1,883
Total current assets: 31,423 13,931
Creditors: amounts falling due within one year: 4 ( 8,648 ) ( 1,000 )
Net current assets (liabilities): 22,775 12,931
Total assets less current liabilities: 22,775 12,931
Total net assets (liabilities): 22,775 12,931
Members' funds
Profit and loss account: 22,775 12,931
Total members' funds: 22,775 12,931

The notes form part of these financial statements

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 June 2024 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 6 August 2024
and signed on behalf of the board by:

Name: Roger Brown
Status: Director

The notes form part of these financial statements

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 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

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Debtors

2024 2023
£ £
Other debtors 1,538 12,048
Total 1,538 12,048

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 2,309 0
Accruals and deferred income 6,339
Other creditors 1,000
Total 8,648 1,000

COMMUNITY INTEREST ANNUAL REPORT

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Company Number: 11429918 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

During the accounting period Love North Chingford CIC activities, the final refurbishment of the Basement of the Hub as a multifunctional arts space was completed, aided by substantial volunteer efforts and support from London Borough of Waltham Forest. The village sign project was again held over and will take place in 2025. Existing Hub areas were further enhanced, increasing the co-working space due to demand, and there was increased community demand for all areas. We again welcomed Barclays Bank continuing operating a local advice service twice weekly for customers. Plans were made for an International Food festival later in July 2024 (subsequently successful), and for the further upgrading of the Children’s Community Garden equipment. Funds totalling £19,000 were allocated for the following future community projects in 24-25: Children’s Community Garden, refurbishment of Old Buffet Floor, The Parade improvement project, LNC Arts Trail, Village Sign, Arts and other Exhibitions in the Hub and upgrading of the Hub WiFi.

Consultation with stakeholders

All the companies activities have been reported through its Website and LNC Gmail group. All feedback received has been taken into account is improving its delivery of services to the community.

Directors' remuneration

The director’s remuneration for the year was as follows Remuneration £5000 This was for the provision of office services and office for 5 years since the establishment of Love North Chingford CIC. There were no other director transactions.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 August 2024

And signed on behalf of the board by:
Name: Roger Brown
Status: Director