for the Period Ended 28 February 2024
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 28 February 2024
Directors
The director shown below has held office during the period of
30 September 2023
to
28 February 2024
The director shown below has held office during the whole of the period from
22 February 2023
to
28 February 2024
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
And signed on behalf of the board by:
Name:
Status: Director
As at
Notes | 2024 | ||
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£ |
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Current assets | |||
Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 3 |
(
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Net current assets (liabilities): |
( |
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Total assets less current liabilities: |
( |
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Total net assets (liabilities): |
( |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
( |
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Total Shareholders' funds: |
( |
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 28 February 2024
Basis of measurement and preparation
for the Period Ended 28 February 2024
2024 | ||
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Average number of employees during the period |
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for the Period Ended 28 February 2024
2024 | ||
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£ | ||
Accruals and deferred income |
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Other creditors |
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Total |
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The fundamental impact opportunity in focus for the CIC to accelerate the transformation of industry by galvanising a deeper commitment and level of support for solutions, so that they can gain market share and overcome financing barriers. The first year was spent on R&D designing the concept for a Scope 3 Market Mechanism that will enable faster, more efficient climate action through deep and connected value chains. The approach is focused on: Reducing cost of capital and driving positive tipping points for business models and technologies that go much further and deeper in driving decarbonisation outcomes. Developing ‘advanced mitigation commitments’, collaborations with multiple partners using contracts as a basis for strong and dependable action. Leveraging increased availability of high-quality company level data. Using sector pathways as quantitative baselines (e.g. emissions intensity of production) to benchmark performance and supplier eligibility. Launching a non-profit, technology enabled financing intermediary, with a shared governance and funding model that is designed for impact. Establishing a basis for credible claims aligned with the evolving architecture of climate finance standards and frameworks. We worked on the problem definition, market research, thought leadership, influencing the claims space, and seeking stakeholder feedback to refine the plan for engaging high impact sectors, solution providers who can drive value chain outcomes, banks, and the donor community.
In the first half of 2023, we confirmed the foundational concepts and building blocks for the S3C approach and tested the ideas via a Steel Sector workshop hosted at the World Resources Institute’s (WRI) London offices. In the second half of 2023, we established a partnership with Linklaters and worked with an Advisory Council to start designing a template for ‘Sector Transition Acceleration Contracts’ (STACs). These standardised contracts can bring together multiple entities that determine the basis upon which to make commitments of either funding or action, in return for certain certified claims that can be made publicly. We have also started to develop a catalogue of impact case studies and a plan for engaging with eligible suppliers.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
6 November 2024
And signed on behalf of the board by:
Name: Chris Perceval
Status: Director