SPIDER PROJECT WIRRAL CIC

Company limited by guarantee

Company Registration Number:
08900524 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

SPIDER PROJECT WIRRAL CIC

Contents of the Financial Statements

for the Period Ended 28 February 2024

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

SPIDER PROJECT WIRRAL CIC

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Principal activities of the company

The principal activity of the company continued to be that of creative arts and wellbeing recovery community project



Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 28 February 2024

M Doyle
S Honor
M Bowen


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
4 October 2024

And signed on behalf of the board by:
Name: M Bowen
Status: Director

SPIDER PROJECT WIRRAL CIC

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 1,173,539 1,114,913
Cost of sales: ( 57,555 ) ( 55,889 )
Gross profit(or loss): 1,115,984 1,059,024
Administrative expenses: ( 1,111,183 ) ( 1,051,439 )
Operating profit(or loss): 4,801 7,585
Profit(or loss) before tax: 4,801 7,585
Profit(or loss) for the financial year: 4,801 7,585

SPIDER PROJECT WIRRAL CIC

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 24,985 37,893
Total fixed assets: 24,985 37,893
Current assets
Debtors: 4 27,531 24,744
Cash at bank and in hand: 202,144 201,429
Total current assets: 229,675 226,173
Creditors: amounts falling due within one year: 5 ( 91,660 ) ( 105,867 )
Net current assets (liabilities): 138,015 120,306
Total assets less current liabilities: 163,000 158,199
Total net assets (liabilities): 163,000 158,199
Members' funds
Profit and loss account: 163,000 158,199
Total members' funds: 163,000 158,199

The notes form part of these financial statements

SPIDER PROJECT WIRRAL CIC

Balance sheet statements

For the year ending 28 February 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 4 October 2024
and signed on behalf of the board by:

Name: M Bowen
Status: Director

The notes form part of these financial statements

SPIDER PROJECT WIRRAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 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

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings: 25% straight line IT Equipment: 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Other accounting policies

    Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. Judgements and key sources of estimation uncertainty In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SPIDER PROJECT WIRRAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 35 38

SPIDER PROJECT WIRRAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 51,232 30,210 81,442
Additions 8,395 8,395
Disposals
Revaluations
Transfers
At 28 February 2024 51,232 38,605 89,837
Depreciation
At 1 March 2023 25,854 17,695 43,549
Charge for year 12,689 8,614 21,303
On disposals
Other adjustments
At 28 February 2024 38,543 26,309 64,852
Net book value
At 28 February 2024 12,689 12,296 24,985
At 28 February 2023 25,378 12,515 37,893

SPIDER PROJECT WIRRAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
£ £
Trade debtors 15,721 15,602
Other debtors 11,810 9,142
Total 27,531 24,744

SPIDER PROJECT WIRRAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,743 2,508
Taxation and social security 75,857 65,234
Other creditors 14,060 38,125
Total 91,660 105,867

COMMUNITY INTEREST ANNUAL REPORT

SPIDER PROJECT WIRRAL CIC

Company Number: 08900524 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

This past year has seen the Spider Project output increase in both terms of the volume of people we are supporting as well as the complexities. We have supported over 2000 vulnerable members of the community in this past year. We continue our work with people overcoming addictions as well as those living with ongoing mental health issues. We offered open access Crisis Services in both Wirral and Chester from 10am-10pm every day of the year, including all bank holidays. Our Creative Recovery programme has ran throughout the year across all 3 of our sites in Wirral and Chester. Our Creative Recovery timetable offering creative, holistic, physical and educational and employment courses and workshops, outings and classes have totalled over 6000 this year. We’ve supported 1000’s of people struggling with the ongoing cost of living crisis. People who are really feeling the sharp end of enduring poverty, both in work and those out of work have turned to Spider Project for support on a whole host of issues. These issues are far reaching and impact the entire community. These include food poverty, housing, and welfare issues before we even start to look at addiction and mental health Recovery. We’ve responded with various initiatives including food hampers and community meals. This is all in a bid to attempt and alleviate some of the hardships many of our members face in starting to address their key issues. We’ve referred and signposted 1000’s of people for additional support services to try and meet each individuals specific needs. These include everything from clinical Mental Health services through to Foodbanks, Sexual Health or whatever an individual requires to take their recovery forwards.

Consultation with stakeholders

Spider Project’s main stakeholders continue to be our membership, those that utilise our services every day of the year. We utilise a wealth of different mechanisms to consult our membership including adhoc surveys, open and ongoing group membership forums, questionnaires and feedback at all steps of a member’s journey from enrolment through to completion. We also have our Volunteers of which currently sits at around 60 in total that we employ across the organisation. These are very much key stakeholders as often they are former members of the project and help steer, consult and form the direction of what we offer. Commissioners and funders and of course our board and staff are all part of the stakeholder team and we consult with regularly in a bid to offer the most equitable service possible.

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
7 June 2024

And signed on behalf of the board by:
Name: Melvin Bowen
Status: Director