SOCIAL CONNECTIVE CIC

Company Registration Number:
14597830 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 17 January 2023

End date: 31 January 2024

SOCIAL CONNECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

SOCIAL CONNECTIVE CIC

Directors' report period ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal activities of the company

The principal activity of the company is to provide a space for the local community to interact and engage with each other.

Additional information

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.



Directors

The directors shown below have held office during the whole of the period from
17 January 2023 to 31 January 2024

Samuel Robert Burns
Sarah Amelia Aynsley


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
15 October 2024

And signed on behalf of the board by:
Name: Samuel Robert Burns
Status: Director

SOCIAL CONNECTIVE CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024


£
Turnover: 4,158
Cost of sales: ( 2,180 )
Gross profit(or loss): 1,978
Administrative expenses: ( 2,451 )
Operating profit(or loss): (473)
Profit(or loss) before tax: (473)
Profit(or loss) for the financial year: (473)

SOCIAL CONNECTIVE CIC

Balance sheet

As at 31 January 2024

Notes 2024


£
Current assets
Debtors: 3 420
Cash at bank and in hand: 5,327
Total current assets: 5,747
Creditors: amounts falling due within one year: 4 ( 1,220 )
Net current assets (liabilities): 4,527
Total assets less current liabilities: 4,527
Creditors: amounts falling due after more than one year: 5 ( 4,998 )
Total net assets (liabilities): (471)
Capital and reserves
Called up share capital: 2
Profit and loss account: (473 )
Total Shareholders' funds: ( 471 )

The notes form part of these financial statements

SOCIAL CONNECTIVE CIC

Balance sheet statements

For the year ending 31 January 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 15 October 2024
and signed on behalf of the board by:

Name: Samuel Robert Burns
Status: Director

The notes form part of these financial statements

SOCIAL CONNECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Other accounting policies

    Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). Basis of preparation These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Going concern The financial statements have been prepared on a going concern basis. Revenue recognition Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

SOCIAL CONNECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

SOCIAL CONNECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Debtors

2024
£
Other debtors 420
Total 420

SOCIAL CONNECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due within one year note

2024
£
Accruals and deferred income 1,220
Total 1,220

SOCIAL CONNECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

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

2024
£
Other creditors 4,998
Total 4,998

COMMUNITY INTEREST ANNUAL REPORT

SOCIAL CONNECTIVE CIC

Company Number: 14597830 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

Social Connective was set up to deliver projects in Staffordshire, focusing on building social connectivity and community regeneration. Working with other local community organisations Social Connective delivers events and projects in the local area, focusing predominantly on Biddulph in the Staffordshire Moorlands. We have organised eight Repair Cafes, which provide free repairs of items to the immediate and neighbouring community. This service provides individuals in the community the opportunity to repair things that they would otherwise have to pay to replace, have cherished memories or are integral to their livelihood. Over the year we have repaired 52 items (71% success rate). This provides a vital service to members of the community who couldn't afford to replace essential household items. Alongside the repair Cafe we run additional activities focused around sustainability, health and wellbeing including craft workshops. We have additionally run comedy and music events. These aim to bring something new to the area at a heavily subsidised or free ticket price. Feedback on our events has been very positive with attendees noting they felt they could attend something new, that it was accessible and inclusive.

Consultation with stakeholders

Our stakeholders are the local residents of Biddulph and the surrounding area. One of the directors of the company grew up in the area and has strong local ties with family residing in Biddulph. We run both community activities and events in and around Biddulph. Our main activity is the monthly Repair Cafe and Community Hive at which we seek feedback on the event from the individuals who engage with it. We ask them to identify both negative and positive elements and where they heard about us. We reflect upon and make reasonable changes to the way I’m which are community events are run in response to these. Regarding the repair cafes run this year, feedback has been overwhelmingly positive but we have made minor changes in our marketing and engagement to reach a broader audience. We have run activities again which were positively received and which participants stated they saw a direct benefit from. We have a core of local volunteers who work with the directors to run the repair Cafe and engage actively to seek their opinion on the smooth running.

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
14 October 2024

And signed on behalf of the board by:
Name: Samuel Robert Burns
Status: Director