PROJECT 507 CIC

Company Registration Number:
08205769 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

PROJECT 507 CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PROJECT 507 CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 524 952
Total fixed assets: 524 952
Current assets
Debtors: 4 896 2,540
Cash at bank and in hand: 97,889 53,789
Total current assets: 98,785 56,329
Creditors: amounts falling due within one year: 5 ( 12,235 ) ( 1,639 )
Net current assets (liabilities): 86,550 54,690
Total assets less current liabilities: 87,074 55,642
Total net assets (liabilities): 87,074 55,642
Capital and reserves
Called up share capital: 100 100
Share premium account: 112 112
Profit and loss account: 86,862 55,430
Total Shareholders' funds: 87,074 55,642

The notes form part of these financial statements

PROJECT 507 CIC

Balance sheet statements

For the year ending 31 December 2023 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 17 September 2024
and signed on behalf of the board by:

Name: Whitney Iles
Status: Director

The notes form part of these financial statements

PROJECT 507 CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 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

PROJECT 507 CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

PROJECT 507 CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 2,493 2,493
Additions 150 150
Disposals
Revaluations
Transfers
At 31 December 2023 2,643 2,643
Depreciation
At 1 January 2023 1,541 1,541
Charge for year 578 578
On disposals
Other adjustments
At 31 December 2023 2,119 2,119
Net book value
At 31 December 2023 524 524
At 31 December 2022 952 952

PROJECT 507 CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Other debtors 896 2,540
Total 896 2,540

PROJECT 507 CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 9,583 1,432
Other creditors 2,652 207
Total 12,235 1,639

COMMUNITY INTEREST ANNUAL REPORT

PROJECT 507 CIC

Company Number: 08205769 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Project 507 has delivered services designed to promote peace in communities affected by systemic violence. This includes 121 and group work in prisons and training/supervision for professionals working in this area. We decided as an organisation to withdraw our work from the Prison Estate and Criminal Justice System due to the level of harm we felt both caused to all those involved, and the lack of action to create positive, sustainable change. We allowed all current contracts to run until completion and the work ended in October 2023. Our second priority this year was to deliver training to professionals across the Borough of Lambeth to support the reduction of violence and systemic harm. We delivered training to 124 professionals ranging from police, YOS workers, NHS professionals, social services and those who work within educational settings.

Consultation with stakeholders

Project 507’s work includes consultation as part of everyday practice. Before commencing a training or mentoring program, individuals are invited to consider their own outcomes and negotiate for which activities will form part of the intervention. In addition, Project 507 has consulted with stakeholders within the prison estate staff and our prime contractor, Ixion, and staff. A number of reflective sessions took place to allow staff to influence the delivery of services and create double learning loops from project successes and challenges.

Directors' remuneration

As per accounts

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
18 October 2024

And signed on behalf of the board by:
Name: Whitney Iles
Status: Director