COMMUNITY AS ONE C.I.C.

Company limited by guarantee

Company Registration Number:
13793911 (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

COMMUNITY AS ONE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Community Interest Report

COMMUNITY AS ONE C.I.C.

Balance sheet

As at 31 December 2023

Notes 2023 13 months to 31 December 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets:  
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 0 0
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 0 0
Total assets less current liabilities: 0 0
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

COMMUNITY AS ONE C.I.C.

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 3 November 2024
and signed on behalf of the board by:

Name: Zavena Burrowes
Status: Director

The notes form part of these financial statements

COMMUNITY AS ONE C.I.C.

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

    Turnover policy

    This policy provides guidelines for calculating, reporting, and managing turnover in the organization’s prepared financial accounts. Accurate turnover reporting supports transparency, accountability, and regulatory compliance, reflecting the organization's financial health. Scope: This policy applies to all revenue-related transactions, grant income, donations, and other sources of income recorded in the organization's financial accounts. It ensures that turnover is defined, tracked, and reported in alignment with accounting standards applicable to non-profit organizations. --- 1. Definition of Turnover For the purposes of financial reporting, turnover refers to the total income generated by the organization within a specified reporting period. Turnover includes: Donations: Funds received from individual, corporate, or foundation donors. Grants and Contracts: Funding from government or private sources designated for specific projects or operational support. Service Income: Income earned from programs, workshops, or other services provided to the community (where applicable). Fundraising Events: Revenue generated through organized fundraising activities or events. Note: Volunteer services or in-kind donations may be reported separately and not counted as part of turnover unless they meet specific accounting standards for recognition. 2. Turnover Recognition Principles Turnover is recognized in accordance with accrual accounting principles and applicable standards for non-profits: Accrual Basis: Revenue is recorded when earned, not necessarily when cash is received. Restricted vs. Unrestricted Funds: Differentiating between restricted funds (income with specific spending purposes) and unrestricted funds (general operating income). Grant Income Recognition: Grants are recognized based on the terms of the grant agreement, either upon receipt or as conditions are met. 3. Turnover Calculation and Reporting The finance team calculates turnover on a quarterly and annual basis. Calculated turnover is included in the following financial reports: Statement of Financial Activities (SOFA): Turnover is reported under income, categorized by type (e.g., donations, grants, service income). Management Reports: Periodic internal reports that track turnover against budget projections and previous periods. Annual Financial Statements: Turnover for the fiscal year is detailed in the audited financial statements, aligning with regulatory standards for non-profit reporting. 4. Monitoring and Variance Analysis To ensure accuracy in turnover reporting, the finance team: Conducts monthly reconciliations of recorded turnover against bank statements and grant documentation. Reviews variances between actual turnover and budget projections quarterly, with explanations for significant deviations. Reports any substantial fluctuations or unusual patterns to the finance committee for further review. 5. Documentation and Record-Keeping Accurate documentation is critical to validate reported turnover. The following practices are followed: Donation Records: Each donation is recorded with relevant donor information and date of receipt, including restrictions or designations, if any. Grant Documentation: Grant agreements, disbursement schedules, and expenditure tracking are maintained to support accurate income recognition. Service Income Invoices: Income from service activities is documented with invoices or receipts. Event Income: All event-related income is documented, including ticket sales, sponsorships, and other revenue sources. 6. Internal Controls for Turnover Reporting To maintain integrity in turnover reporting: Segregation of Duties: Staff involved in recording income are separate from those who receive and deposit funds. Authorization and Approval: Major donations, grants, and income are reviewed and approved by designated staff before being recognized in the accounts. Audit and Compliance Checks: Turnover records are subject to periodic internal audits and reviewed annually by external auditors. 7. Compliance and Reporting Standards The organization complies with relevant accounting standards and regulatory requirements for turnover reporting, which may include: Financial Accounting Standards Board (FASB) guidelines for non-profit entities (or other local standards as applicable). Annual Regulatory Filings: Turnover is disclosed accurately in annual filings, ensuring compliance with tax authorities and regulatory bodies. 8. Policy Review and Updates The turnover policy is reviewed annually by the finance team and the board’s finance committee to ensure continued compliance with accounting standards and evolving best practices in non-profit financial reporting.

    Tangible fixed assets depreciation policy

    This policy establishes guidelines for the depreciation of tangible fixed assets in a way that reflects the actual usage and wear of assets over time. This policy ensures accurate financial reporting in accordance with applicable accounting standards, providing transparency and accountability in the use of our resources. Scope: This policy applies to all tangible fixed assets acquired, constructed, or donated to the organization. Examples include buildings, equipment, furniture, vehicles, and any other physical assets used in carrying out the organization’s mission. 1. Definition of Tangible Fixed Assets Tangible fixed assets are items with a useful life of more than one year and a minimum capitalization threshold of £ X (e.g., £500). Assets below this threshold will be expensed in the period of acquisition. 2. Capitalization and Classification Upon acquisition, tangible fixed assets are categorized based on their nature and estimated useful life. Typical asset categories include: Buildings and improvements Furniture and fixtures Equipment (e.g., computers, printers, appliances) Vehicles 3. Depreciation Method The organization uses the Straight-Line Depreciation Method for all tangible fixed assets. This method allocates an equal portion of the asset's cost over its estimated useful life. Depreciation Formula: \text{Annual Depreciation Expense} = \frac{\text{Asset Cost} - \text{Salvage Value}}{\text{Useful Life}} 4. Estimated Useful Life The estimated useful life of each category is determined based on general industry practices and the expected usage of the assets within our operations. Guidelines for useful life are as follows: Buildings: 20-30 years Building Improvements: 10-20 years Furniture and Fixtures: 5-10 years Equipment: 3-7 years Vehicles: 5-8 years Note: These estimates can be adjusted based on actual asset conditions, usage, and industry practices. 5. Salvage Value Salvage value is the estimated residual value of an asset at the end of its useful life. For most assets, the salvage value is estimated at £0 unless a specific residual value is determined at acquisition. 6. Depreciation Start Date Depreciation begins in the month the asset is placed in service and is recorded monthly or annually, based on the organization’s reporting practices. 7. Review of Useful Lives and Depreciation Method The useful life and method for each asset category are reviewed periodically, generally every three to five years, to ensure they reflect current expectations. Adjustments are made as necessary for changes in usage, technological advances, or organizational needs. 8. Impairment of Assets If an asset is found to have a permanent decrease in value (impairment) due to damage, obsolescence, or other factors, the remaining book value will be written down to reflect this impairment in accordance with accounting standards. 9. Disposition of Assets When assets are disposed of (sold, scrapped, or donated), the asset's book value and accumulated depreciation will be removed from the accounts. Any resulting gain or loss will be recorded in the financial statements. 10. Record Keeping and Compliance All tangible fixed assets will be tracked in an asset register, recording relevant details such as acquisition cost, depreciation expense, accumulated depreciation, and net book value. Compliance with this policy is monitored regularly to ensure adherence to accounting standards and organizational transparency.

COMMUNITY AS ONE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 13 months to 31 December 2022
    Average number of employees during the period 4 4

COMMUNITY INTEREST ANNUAL REPORT

COMMUNITY AS ONE C.I.C.

Company Number: 13793911 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

We are a non-profit organization dedicated to supporting and uplifting our community through accessible impactful programs aimed at individuals and families with limited financial resources. Our mission is to foster wellness, resilience and positive growth by providing practical assistance, education and community engagement. We offer free workshops and holiday clubs tailored for individuals and families on low income. These programs are structured to provide a safe engaging space for community members to connect, learn and grow. Activities are designed to support physical well being, encourage personal enrichment and promote family bonding in a nurturing environment. Our workshops place a strong emphasis on healthy living and mental well being. We cover a range of topics nutritional education to physical fitness and mindfulness practices. By empowering community members with knowledge and practical strategies, we aim to improve long term health outcomes and boost resilience. Our team actively connects community members to other organizations and services that can assist with the rising cost of living and other social support programs. Through our programs and referral services we have worked with and assisted 60 participants in 2023 and 120 participants 2024

Consultation with stakeholders

No consultation with stakeholders

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
3 November 2024

And signed on behalf of the board by:
Name: Zavena Burrowes
Status: Director