WEAREHOPEST CIC

Company limited by guarantee

Company Registration Number:
11748237 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

WEAREHOPEST CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WEAREHOPEST CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 5,354 6,384
Total fixed assets: 5,354 6,384
Current assets
Debtors: 4 967 2,461
Cash at bank and in hand: 40,771 19,371
Total current assets: 41,738 21,832
Creditors: amounts falling due within one year: 5 ( 31,471 ) ( 8,463 )
Net current assets (liabilities): 10,267 13,369
Total assets less current liabilities: 15,621 19,753
Creditors: amounts falling due after more than one year: 6 ( 3,693 ) ( 6,001 )
Provision for liabilities: ( 1,338 ) ( 980 )
Total net assets (liabilities): 10,590 12,772
Members' funds
Profit and loss account: 10,590 12,772
Total members' funds: 10,590 12,772

The notes form part of these financial statements

WEAREHOPEST 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 22 April 2024
and signed on behalf of the board by:

Name: Sheila Byrne
Status: Director

The notes form part of these financial statements

WEAREHOPEST 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery 25% Reducing Balance

    Other accounting policies

    Finance leases and hire purchase contracts Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

WEAREHOPEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

WEAREHOPEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 9,059 9,059
Additions 754 754
Disposals
Revaluations
Transfers
At 31 January 2024 9,813 9,813
Depreciation
At 1 February 2023 2,675 2,675
Charge for year 1,784 1,784
On disposals
Other adjustments
At 31 January 2024 4,459 4,459
Net book value
At 31 January 2024 5,354 5,354
At 31 January 2023 6,384 6,384

WEAREHOPEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 45
Prepayments and accrued income 967 1,565
Other debtors 851
Total 967 2,461

WEAREHOPEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 4,345
Accruals and deferred income 28,325 1,018
Other creditors 3,146 3,100
Total 31,471 8,463

WEAREHOPEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

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

2024 2023
£ £
Other creditors 3,693 6,001
Total 3,693 6,001

COMMUNITY INTEREST ANNUAL REPORT

WEAREHOPEST CIC

Company Number: 11748237 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

We have continued to offer mental health services to people suffering with their mental health from our self sustainable hub. We operate a cafe from inside the hub which is staffed by volunteers and these profits go back in to sustaining the services we provide. We aid recovery and sustain overall wellbeing by providing a safe space when individuals and families are at their most vulnerable.

Consultation with stakeholders

Our main stakeholders are the people who utilise our mental health support services. We have asked our stakeholders to take anonymous surveys and requesting direct feedback to ensure we are offering the services to suit our the people entering our hub.

Directors' remuneration

The total amount paid to directors in remuneration was £6,000.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 April 2024

And signed on behalf of the board by:
Name: Sheila Byrne
Status: Director