LEARNEST CIC

Company limited by guarantee

Company Registration Number:
11772287 (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

LEARNEST CIC

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

LEARNEST CIC

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

Principal activities of the company

The principal activity of Learnest CIC is to provide workshops, training, and development opportunities for LGBTQ+ people across the UK. We deliver various commercial services/contracts that support our clients in building more inclusive workplaces. We use the profits from our commercial work, together with funding from our Grant Funders, to deliver programs that directly benefit the LGBTQ+ Community.



Directors

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

Louie Faro
Rossella Nicosia
Sophie Beer


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
28 October 2024

And signed on behalf of the board by:
Name: Louie Faro
Status: Director

LEARNEST CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 103,821 61,263
Gross profit(or loss): 103,821 61,263
Administrative expenses: ( 105,524 ) ( 64,869 )
Operating profit(or loss): (1,703) (3,606)
Profit(or loss) before tax: (1,703) (3,606)
Tax: 9 646
Profit(or loss) for the financial year: (1,694) (2,960)

LEARNEST CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,974 2,395
Total fixed assets: 1,974 2,395
Current assets
Debtors: 4 4,956 1,567
Cash at bank and in hand: 19,533 40,730
Total current assets: 24,489 42,297
Creditors: amounts falling due within one year: 5 ( 27,594 ) ( 43,582 )
Net current assets (liabilities): (3,105) (1,285)
Total assets less current liabilities: (1,131) 1,110
Creditors: amounts falling due after more than one year: 6 ( 741 ) ( 1,279 )
Provision for liabilities: ( 54 ) ( 63 )
Total net assets (liabilities): (1,926) (232)
Members' funds
Profit and loss account: (1,926) ( 232)
Total members' funds: ( 1,926) (232)

The notes form part of these financial statements

LEARNEST 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.

This report was approved by the board of directors on 28 October 2024
and signed on behalf of the board by:

Name: Louie Faro
Status: Director

The notes form part of these financial statements

LEARNEST 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

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 2

LEARNEST 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 2,014 3,124 5,138
Additions 300 455 755
Disposals
Revaluations
Transfers
At 31 January 2024 2,314 3,579 5,893
Depreciation
At 1 February 2023 505 2,238 2,743
Charge for year 580 596 1,176
On disposals
Other adjustments
At 31 January 2024 1,085 2,834 3,919
Net book value
At 31 January 2024 1,229 745 1,974
At 31 January 2023 1,509 886 2,395

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 850 600
Prepayments and accrued income 4,088 967
Other debtors 18
Total 4,956 1,567

LEARNEST 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 57
Taxation and social security 554 1,402
Accruals and deferred income 27,040 42,105
Other creditors 18
Total 27,594 43,582

LEARNEST 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 741 1,279
Total 741 1,279

COMMUNITY INTEREST ANNUAL REPORT

LEARNEST CIC

Company Number: 11772287 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The principal activity of Learnest CIC continues to be delivering workshops, training, and development opportunities for LGBTQ+ people across the UK. Our commercial services, designed to support clients in building inclusive workplaces, remain essential. The revenue from these activities, together with generous grant funding, allows us to focus on initiatives that directly serve the LGBTQ+ community. For the 2023-24 financial year, our primary focus was on "Our House" – a dedicated, permanent LGBTQ+ hub space in Wakefield. This hub aims to be a welcoming, safe environment for the local LGBTQ+ community. In December of 2023 we found out we would lose our venue, we rallied the support of over 40 volunteers from the Wakefield area, who contributed time and energy to help build and shape the project. Although we faced unexpected setbacks and logistical challenges, our team effectively managed these, resulting in the steady growth of "Our House" as a community asset. With the steadfast support of our funders and partners, we successfully hosted over 30 LGBTQ+ cultural events and safe-space gatherings within "Our House" throughout the year, offering a blend of social, educational, and supportive activities tailored to the needs of the LGBTQ+ community. This engagement, along with our cafe, reached over 2,000 local people, strengthening the visibility and inclusivity of LGBTQ+ voices in Wakefield and surrounding areas. Our advocacy programme continued to provide critical support, helping 12 individuals facing significant personal challenges. This initiative remains an invaluable resource for those who require specialised, compassionate assistance tailored to their specific situations. Through these efforts, we’ve not only enhanced our outreach but also cemented "Our House" as a focal point for community support, fostering resilience and belonging within Wakefield’s LGBTQ+ community.

Consultation with stakeholders

We actively gather feedback from our stakeholders, including both our commercial clients and the LGBTQ+ community, after each intervention, workshop, or event. In addition, we conduct an annual community survey to capture the evolving needs and perspectives of our primary beneficiaries, the LGBTQ+ community. Since our launch in 2019, feedback has consistently highlighted the lack of sober LGBTQ+ spaces and in-person venues as a significant challenge, contributing to loneliness and isolation within the community. Responding to this feedback, we expanded our efforts in 2023 with the continued development of "Our House," our dedicated LGBTQ+ centre in Wakefield, West Yorkshire. Opened in August 2022, "Our House" has grown into a vibrant hub, providing a safe space for community gatherings, skill-building, and social connection. This year alone, it supported over 2,000 local residents and visitors, offering a mix of social events, workshops, and support services. This financial year we have made efforts to develop a community board made up of local LGBTQ+ people to provide feedback and direction for the space, this achieved limited success and is an initiative we hope to develop further in the current years as we make our home in a new venue.

Directors' remuneration

Our director Louie Faro was paid through payroll. Our other directors did not receive any remuneration in this financial year. There were no other transactions or arrangements in connection with remuneration of directors, or compensation for the director's loss of office, which would be required 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
28 October 2024

And signed on behalf of the board by:
Name: Louie Faro
Status: Director