INKLINGS GROUP COMMUNITY INTEREST COMPANY

Company Registration Number:
13161361 (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

INKLINGS GROUP COMMUNITY INTEREST COMPANY

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

INKLINGS GROUP COMMUNITY INTEREST COMPANY

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

Directors

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

Professor Stephen Graham Davies
Ms Rebecca Gingell
Mr David Norwood
Ms Kate O'Brien
Mr James Henry WILKINSON
Mr Barnaby Hugo Dominic Martin


The director shown below has held office during the period of
20 December 2023 to 31 January 2024

Dr Ceri Elizabeth Morgan


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
30 October 2024

And signed on behalf of the board by:
Name: Mr James Henry WILKINSON
Status: Director

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 916,390 250,071
Cost of sales: ( 657,409 ) ( 196,667 )
Gross profit(or loss): 258,981 53,404
Administrative expenses: ( 318,688 ) ( 122,390 )
Operating profit(or loss): (59,707) (68,986)
Interest receivable and similar income: 5
Interest payable and similar charges: ( 336 )
Profit(or loss) before tax: (60,038) (68,986)
Profit(or loss) for the financial year: (60,038) (68,986)

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 314,778 342,063
Total fixed assets: 314,778 342,063
Current assets
Stocks: 4 12,178 7,771
Debtors: 5 1,469 23,067
Cash at bank and in hand: 379,664 257,561
Total current assets: 393,311 288,399
Prepayments and accrued income: 6,196 5,000
Creditors: amounts falling due within one year: 6 ( 464,698 ) ( 333,837 )
Net current assets (liabilities): (65,191) (40,438)
Total assets less current liabilities: 249,587 301,625
Total net assets (liabilities): 249,587 301,625
Capital and reserves
Called up share capital: 503,001 495,001
Profit and loss account: (253,414 ) (193,376 )
Total Shareholders' funds: 249,587 301,625

The notes form part of these financial statements

INKLINGS GROUP COMMUNITY INTEREST COMPANY

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 30 October 2024
and signed on behalf of the board by:

Name: Mr James Henry WILKINSON
Status: Director

The notes form part of these financial statements

INKLINGS GROUP COMMUNITY INTEREST COMPANY

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

    Revenue Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: 1 the Company has transferred the significant risks and rewards of ownership to the buyer; 2 the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; 3 the amount of revenue can be measured reliably; 4 it is probable that the Company will receive the consideration due under the transaction; and 5 the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Short-term leasehold property - 13 years Plant and machinery - 4 years Fixtures and fittings - 4 years Computer equipment - 3 years The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Other accounting policies

    Going concern The Directors remain confident that the business will move to profitability as additional product lines are added to the offering. The Directors remain confident that the business is a going concern. has context menu Interest income Interest income is recognised in profit or loss using the effective interest method Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Debtors Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Creditors Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 15 11

INKLINGS GROUP COMMUNITY INTEREST COMPANY

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 321,566 19,869 1,834 585 343,854
Additions 1,765 241 918 2,924
Disposals
Revaluations
Transfers
At 31 January 2024 323,331 20,110 2,752 585 346,778
Depreciation
At 1 February 2023 0 1,540 153 98 1,791
Charge for year 24,394 5,028 592 195 30,209
On disposals
Other adjustments
At 31 January 2024 24,394 6,568 745 293 32,000
Net book value
At 31 January 2024 298,937 13,542 2,007 292 314,778
At 31 January 2023 321,566 18,329 1,681 487 342,063

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Stocks

2024 2023
£ £
Stocks 12,178 7,771
Total 12,178 7,771

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors

2024 2023
£ £
Trade debtors 973 640
Other debtors 496 22,427
Total 1,469 23,067

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 75,469 35,362
Taxation and social security 19,585 9,275
Accruals and deferred income 351,820 275,000
Other creditors 17,824 14,200
Total 464,698 333,837

COMMUNITY INTEREST ANNUAL REPORT

INKLINGS GROUP COMMUNITY INTEREST COMPANY

Company Number: 13161361 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The business has employed local people and all the products sold (including beer, most spirits and all food) have been locally sourced. The customers are mostly local Oxford based people

Consultation with stakeholders

Annual consultation with the management team over the operations of the business and how to develop and reward the team. The staff are paid in accordance with the Oxford living wage. All suppliers are from Oxfordshire and are regularly consulted An annual event is held for the investors at the business to consult on development and business plans. In addition the 300 plus people who are shareholders are regularly consulted via electronic means on specific events or plans

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
30 October 2024

And signed on behalf of the board by:
Name: James Henry Wilkinson
Status: Director