THE NORWICH SEEKER C.I.C.

Company limited by guarantee

Company Registration Number:
14506516 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 25 November 2022

End date: 30 November 2023

THE NORWICH SEEKER C.I.C.

Contents of the Financial Statements

for the Period Ended 30 November 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE NORWICH SEEKER C.I.C.

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The directors shown below have held office during the whole of the period from
25 November 2022 to 30 November 2023

Thomas Stephen Bristow
Gregory Stephen Smith


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
6 August 2024

And signed on behalf of the board by:
Name: Gregory Stephen Smith
Status: Director

THE NORWICH SEEKER C.I.C.

Profit And Loss Account

for the Period Ended 30 November 2023

2023


£
Turnover: 370
Cost of sales: ( 9,608 )
Gross profit(or loss): (9,238)
Administrative expenses: ( 1,316 )
Other operating income: 10,554
Operating profit(or loss): 0
Profit(or loss) before tax: 0
Profit(or loss) for the financial year: 0

THE NORWICH SEEKER C.I.C.

Balance sheet

As at 30 November 2023

Notes 2023


£
Current assets
Cash at bank and in hand: 2,073
Total current assets: 2,073
Creditors: amounts falling due within one year: 3 ( 2,073 )
Net current assets (liabilities): 0
Total assets less current liabilities: 0
Total net assets (liabilities): 0
Members' funds
Profit and loss account: 0
Total members' funds: 0

The notes form part of these financial statements

THE NORWICH SEEKER C.I.C.

Balance sheet statements

For the year ending 30 November 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.

This report was approved by the board of directors on 6 August 2024
and signed on behalf of the board by:

Name: Gregory Stephen Smith
Status: Director

The notes form part of these financial statements

THE NORWICH SEEKER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 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

    Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

THE NORWICH SEEKER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023
    Average number of employees during the period 0

THE NORWICH SEEKER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Creditors: amounts falling due within one year note

2023
£
Other creditors 2,073
Total 2,073

COMMUNITY INTEREST ANNUAL REPORT

THE NORWICH SEEKER C.I.C.

Company Number: 14506516 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

The Norwich Seeker aims to find a new model for independent, in-depth local journalism, delivering compelling newsletters to thousands of readers every week. In our short life, through our journalism, we are proud to have made an impact. For example, we’ve helped to save the walk-in NHS centre on Rouen Road, Norwich, with a Seeker-led campaign supported by more than 8,000 people. We’ve published an investigation into how the dental crisis is impacting Norwich, revealed delays in the city’s bid to create a zero emissions zone and shone a light on how Anglian Water was discharging untreated sewage into the region’s waterways, in breach of permits. We’ve also written about the people and places that characterise our communities, most recently about a Ukrainian family making a new life in Norfolk. We’ve grown our subscriber base to over 1,300 in just six months with minimal marketing investment. The feedback we get is positive, insightful and shows that we have a really engaged and supportive audience. We consistently get a high open-rate to our emails and have experienced surges in sign-ups when stories get picked up and shared by our readers. In addition, our readers often approach us with ideas for articles and content that they’d love to see us cover. Our newsletter open rate remains at over 60% compared to a market average of around 20%. Journalistically our highlight in the first half of the project was an investigation into sudden deaths at Norfolk Constabulary which caught the attention and praise of the chief constable. We’ve also sensitively covered the topic of asylum seekers being housed in hostels, drug deaths and SEND provision. In the second half of this project, we focused on publishing more articles from young, unpublished writers, including journalist students at the University of East Anglia. Their stories included a feature on sewage being pumped into our seas, a look at volunteers helping those who get into trouble on a night out and a news story about the revamp of a local theatre. Another aim of our commissioning has been to commission people who know their subject inside out but are not journalists. This was done through people telling their lived experiences of a subject rather than commissioning a professional journalist to tell it for them. Examples of this include this article from a local restaurateur on the challenges of running a food business, and this article from a local councillor on who she is trying to make her Victorian terrace energy efficient

Consultation with stakeholders

Our survey in September 2023 showed that our biggest demographic lives in NR2 which is the wealthiest area of the city. However, 28% of The Seeker’s audience live outside of Norwich but in the wider travel to work area (Greater Norwich). This would suggest a growth opportunity beyond the limited city centre population. Demographically, the audience is evenly split by 35 to 55 and then 55 to 75. Our earlier market research showed readers also enjoyed the variety of our Wednesday coverage which has covered stories the established local media are missing and then follow up on. Our Wednesday coverage offers a weekly roundup of shorter news stories, while our Saturday focus remains one longer read which is commissioned by the editor to different freelance writers each week. Please see some of the comments here. In addition, we engaged with our audience through targeted social media channels. Subscribers were built up organically through the twice weekly emails from around 500 at the project start to more than 1300 by its end. We received a boost in subscriber numbers in November when The Seeker was recommended on a Reddit channel about Norwich. Linkedin was used as the primary social media source and traction channel. This was because the user profile of engaged community-minded professionals from the Greater Norwich area and their interests closely aligns with the target audience. Referrals through Linkedin were initially strong but then slowed though the channel is still a large source of engagement. Our biggest sources of sign-ups, in order, were direct i.e. through our website), Google, the newsletter itself (i.e. people forwarding it on for people to sign up), LinkedIn, Reddit, X (formerly Twitter). All growth was organic – typically around 30 sign ups each week on average.

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
18 November 2024

And signed on behalf of the board by:
Name: Gregory Stephen Smith
Status: Director