CRAFT FORWARD CIC

Company limited by guarantee

Company Registration Number:
14005011 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

CRAFT FORWARD CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CRAFT FORWARD CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 95 93
Cash at bank and in hand: 23,109 7,316
Total current assets: 23,204 7,409
Creditors: amounts falling due within one year: 4 ( 19,129 ) ( 7,639 )
Net current assets (liabilities): 4,075 (230)
Total assets less current liabilities: 4,075 ( 230)
Total net assets (liabilities): 4,075 (230)
Members' funds
Profit and loss account: 4,075 ( 230)
Total members' funds: 4,075 (230)

The notes form part of these financial statements

CRAFT FORWARD CIC

Balance sheet statements

For the year ending 31 March 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 8 October 2024
and signed on behalf of the board by:

Name: Elena Lo Presti
Status: Director

The notes form part of these financial statements

CRAFT FORWARD CIC

Notes to the Financial Statements

for the Period Ended 31 March 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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

CRAFT FORWARD CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 0

CRAFT FORWARD CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Prepayments and accrued income 95 93
Total 95 93

CRAFT FORWARD CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 376 0
Accruals and deferred income 18,753 7,639
Total 19,129 7,639

CRAFT FORWARD CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Financial Commitments

The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

COMMUNITY INTEREST ANNUAL REPORT

CRAFT FORWARD CIC

Company Number: 14005011 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Between 2023 and 2024, we solidified our CIC structure and expanded our activities significantly. We successfully secured grant funding, allowing us to hold two free knitting and crochet workshops every month throughout the year. These workshops continued to support our Blankets for Lambeth Project (which grew into Blankets for London to support a larger community), which creates blankets for people experiencing homelessness across the borough. In this period, we assembled an impressive 174 blankets. Additionally, we engaged over 1000 people through our various activities, promoting skill-sharing and growing a sense of community.

Consultation with stakeholders

Primary Stakeholders: Elena Lo Presti, Raschique Narwan, Ezgi Kaya (CIC’s Directors). We constantly consult stakeholders through a continuous feedback loop implemented in our workshop’s activities. With our management team, we have quarterly meeting consultations.

Directors' remuneration

For the financial year the amount of £7,488 paid to or receivable by director Elena Lo Presti for their services to the company. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Elena Lo Presti
Status: Director