THREAD REPUBLIC CIC

Company limited by guarantee

Company Registration Number:
13927943 (England and Wales)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

THREAD REPUBLIC CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

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

THREAD REPUBLIC CIC

Directors' report period ended 29 February 2024

The directors present their report with the financial statements of the company for the period ended 29 February 2024

Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 29 February 2024

Julia Roebuck
Nicola Thompson
Kimberley Searle
Holly Carr


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
14 November 2024

And signed on behalf of the board by:
Name: Julia Roebuck
Status: Director

THREAD REPUBLIC CIC

Profit And Loss Account

for the Period Ended 29 February 2024

2024 2023


£

£
Turnover: 9,411 8,533
Cost of sales: ( 1,476 ) ( 247 )
Gross profit(or loss): 7,935 8,286
Administrative expenses: ( 8,296 ) ( 6,339 )
Operating profit(or loss): (361) 1,947
Profit(or loss) before tax: (361) 1,947
Tax: 8 ( 370 )
Profit(or loss) for the financial year: (353) 1,577

THREAD REPUBLIC CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 1,222 1,947
Total current assets: 1,222 1,947
Creditors: amounts falling due within one year: 3 ( 370 )
Net current assets (liabilities): 1,222 1,577
Total assets less current liabilities: 1,222 1,577
Total net assets (liabilities): 1,222 1,577
Members' funds
Profit and loss account: 1,222 1,577
Total members' funds: 1,222 1,577

The notes form part of these financial statements

THREAD REPUBLIC CIC

Balance sheet statements

For the year ending 29 February 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 14 November 2024
and signed on behalf of the board by:

Name: Julia Roebuck
Status: Director

The notes form part of these financial statements

THREAD REPUBLIC CIC

Notes to the Financial Statements

for the Period Ended 29 February 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

    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.

    Other accounting policies

    2.3. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax.

THREAD REPUBLIC CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

THREAD REPUBLIC CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Creditors: amounts falling due within one year note

  2023
  £
Taxation and social security 370
Total   370

COMMUNITY INTEREST ANNUAL REPORT

THREAD REPUBLIC CIC

Company Number: 13927943 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

Between 1 March 2023 – 29 February 2024 Thread Republic has continued with the mission to celebrate creativity, community and circularity through textiles. The re-use and skills hub is based in a meanwhile space (ex-retail unit on the Piazza in Huddersfield), and provides a reuse haberdashery that sells hundreds of units of donated textile resources back into the creative communities within Kirklees. In addition, they teach textile skills that connect people with hands-on opportunities to learn and share skills. We had a unique opportunity to be a key part of WOVEN in Kirklees 2023, a textiles festival in Kirklees celebrating textiles heritage and innovation. Between April – June 2023 we engaged over 50 volunteers to support with the material sourcing, packing and delivery of 1000 sewing kits to be distributed to primary school children throughout WOVEN in Kirklees festival. In December 2023 we had to move out of our second temporary space and spent January and February moving into Unit 42 which we officially opened in March 2024. Whist the hub was closed we continued with our two Stitch Socials in Holmfirth and Huddersfield, with the Lawrence Batley Theatre kindly letting us use their facilities! We also trialled a pop-up market stall in Dewsbury town hall which was really well received and good connections made with Dewsbury creatives and community groups.

Consultation with stakeholders

Consultation takes place regularly across our programmes and with all stakeholder groups. From social media, to events and general shop opening days, we are always listening to what our community need and keen to establish new connections. During 2023 we played an active role in the WOVEN in Kirklees festival and had the chance to consult with new audiences by being practitioners for the WOVEN consultation in communities, by co-hosting a Makers Mingle and delivering a festivals “vision for the future” workshop

Directors' remuneration

Directors remuneration: £7,416.00 Directors were paid this amount for the delivery of textile workshops This can be found on the annual accounts page 9.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
14 November 2024

And signed on behalf of the board by:
Name: Julia Roebuck
Status: Director