CARVING COMMUNITY CIC

Company limited by guarantee

Company Registration Number:
07522190 (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

CARVING COMMUNITY CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CARVING COMMUNITY CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 31 30
Cash at bank and in hand: 38 27
Total current assets: 69 57
Creditors: amounts falling due within one year: 4 ( 2,853 ) ( 1,875 )
Net current assets (liabilities): (2,784) (1,818)
Total assets less current liabilities: (2,784) ( 1,818)
Total net assets (liabilities): (2,784) (1,818)
Members' funds
Profit and loss account: (2,784) ( 1,818)
Total members' funds: ( 2,784) (1,818)

The notes form part of these financial statements

CARVING COMMUNITY 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.

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

Name: J Bond
Status: Director

The notes form part of these financial statements

CARVING COMMUNITY 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; It is probably the future economic benefits will flow to the entity; And specific criteria have been met for each of the company’s activities.

    Other accounting policies

    Tax The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the country operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company dies not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

CARVING COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 5

CARVING COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Debtors

2024 2023
£ £
Prepayments and accrued income 31 30
Total 31 30

CARVING COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 485 378
Other creditors 2,368 1,497
Total 2,853 1,875

COMMUNITY INTEREST ANNUAL REPORT

CARVING COMMUNITY CIC

Company Number: 07522190 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

Carving Community is a Community Interest Company that specialises in engaging with young people, their families and the community they live in. We take as our starting point, the belief that through building meaningful relationships using creativity and imagination, young people can transform their lives and develop a personal sense of authority. We maintain that each young person has their own unique gifts and qualities and it is through our professional engagement that we can reflect back to the individual what we have witnessed and support and encourage them to pursue those talents. Our work embraces destructive and complex behaviours expressed by young people and encourages them to incorporate their feelings into a creative process rather than being harmful to themselves, others or their environments. Our work centres on the practical use of hand tools such as axes, blades, draw knives, mauls and spades. We provide a safe outdoor environment in which our experienced team can work with and accommodate young people’s needs. Previous work has shown that creative work with tools can help to redirect negative, destructive behaviours and create positive outcome for the wider community. In 2023 we have paused on direct projects, in order to apply for larger funding pots to support the development of an accessible community workshop in Mid Devon and accompanying village outreach projects using our mobile toolbox. We aim to commence our new offer in Spring 2025. We would like to thank our previous and current funders, partners, facilitators, young assistants, volunteers and community makers for their support, willingness, good will and generosity of spirit. Carving Community CIC continues to believe that it is more important than ever to celebrate and cherish diversity and to create opportunities to dialogue with hands and hearts through our differences. Please see our Facebook page for references to our most recent projects www.facebook.com/carvingcommunity

Consultation with stakeholders

Funding proposals include feasibility studies and focus groups across our partners, with young people, families, local creatives, and wider communities to ensure our offer fits their needs. The Inside/Outside Project will be evaluated by an external evaluator.

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
22 November 2024

And signed on behalf of the board by:
Name: N Pitcher
Status: Director