PARTY KIT NETWORK CIC

Company limited by guarantee

Company Registration Number:
12733258 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

PARTY KIT NETWORK CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

PARTY KIT NETWORK CIC

Directors' report period ended 31 July 2024

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

Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

Isabel Mack
Dian Sofia Binte Azman Hisham
Sara Collick
Vibeke Fennell
Cheryl Harpin
Julie Savage


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
11 October 2024

And signed on behalf of the board by:
Name: Isabel Mack
Status: Director

PARTY KIT NETWORK CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 1,793 1,468
Cost of sales: ( 509 ) 0
Gross profit(or loss): 1,284 1,468
Administrative expenses: ( 1,117 ) ( 1,375 )
Operating profit(or loss): 167 93
Profit(or loss) before tax: 167 93
Tax: ( 2 )
Profit(or loss) for the financial year: 165 93

PARTY KIT NETWORK CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 57 23
Total fixed assets: 57 23
Current assets
Cash at bank and in hand: 985 674
Total current assets: 985 674
Net current assets (liabilities): 985 674
Total assets less current liabilities: 1,042 697
Creditors: amounts falling due after more than one year: 4 ( 978 ) ( 798 )
Total net assets (liabilities): 64 (101)
Members' funds
Profit and loss account: 64 ( 101)
Total members' funds: 64 (101)

The notes form part of these financial statements

PARTY KIT NETWORK CIC

Balance sheet statements

For the year ending 31 July 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 11 October 2024
and signed on behalf of the board by:

Name: Isabel Mack
Status: Director

The notes form part of these financial statements

PARTY KIT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

PARTY KIT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

PARTY KIT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 92 92
Additions 64 64
Disposals
Revaluations
Transfers
At 31 July 2024 156 156
Depreciation
At 1 August 2023 69 69
Charge for year 30 30
On disposals
Other adjustments
At 31 July 2024 99 99
Net book value
At 31 July 2024 57 57
At 31 July 2023 23 23

PARTY KIT NETWORK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

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

2024 2023
£ £
Other creditors 978 798
Total 978 798

COMMUNITY INTEREST ANNUAL REPORT

PARTY KIT NETWORK CIC

Company Number: 12733258 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

- Improved the accessibility of reusable tableware by adding 81 new Member registrations. The total number of active Members is 561. - The Company supported Members to lend their party kits avoiding the waste from over 331,783 single-use items such as disposable plates, cups, bowls and cutlery (based on the responses from 193 Members). An increase of 14% YoY. - Directly enabled party organisers to avoid 8,427 single-use items through hires of the single party kit operated by the Company in Winchester UK. - There were 389 downloads of our free ‘Get Started’ guide which aims to inspire and support more people to set up party kits for their area. - Directly facilitated 1,141 booking enquiries via the online enquiry form available on party kit listings. - Hosted 11 online meet ups to support people interested in setting up new party kits for their communities. - Indirectly supported a range of registered charities, school PTAs and local community projects as approx. 35% of party kits which charge for hires donate all or part of their income. (based the responses from 242 Members, 2021) - Increased awareness of the party kit concept through social media and partnerships.

Consultation with stakeholders

The Company’s core stakeholders are Members of the Party Kit Network. Members are those who run party kits for their local community and have registered with us. Two members are also on the Company's Board of Directors to ensure Members are always represented in key decisions. The Company runs an active Facebook group community facilitating regular interaction between the Company and Members which helps us to better understand the needs of our Members and those looking to join. There are currently 1,374 Members in the group of which 774 were actively engaged with the group over the last 28 days. We have run surveys via the group in order to help inform our decision making, such as fundraising ideas or our strategy for setting up a public liability scheme, and responded to requests such as providing booking management spreadsheet templates. The Company runs an Annual Audit each July giving registered Members an opportunity to update us on the success of their party kit and feedback on how the Party Kit Network could further support Members. A total of 193 Members participated in the 2024 Annual Audit (35%of the Network). The Company’s secondary stakeholders are those planning a party who have used our online directory to find and contact their local kit. This year we have consulted with these stakeholders on a reactionary basis, either to resolve issues or answer queries.

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
24 September 2024

And signed on behalf of the board by:
Name: Isabel Mack
Status: Director