WISDOM AGAINST RACISM CIC

Company limited by guarantee

Company Registration Number:
12367339 (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

WISDOM AGAINST RACISM CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WISDOM AGAINST RACISM CIC

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

A KHANOM


The directors shown below have held office during the period of
1 January 2023 to 1 February 2023

D W BRUCE
L D PARMAR-HEMSLEY
K A BONNER


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
27 September 2024

And signed on behalf of the board by:
Name: A KHANOM
Status: Director

WISDOM AGAINST RACISM CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 324 381
Total fixed assets: 324 381
Current assets
Debtors: 4 1,683 339
Cash at bank and in hand: 47 8,982
Total current assets: 1,730 9,321
Creditors: amounts falling due within one year: 5 ( 3,765 ) ( 4,518 )
Net current assets (liabilities): (2,035) 4,803
Total assets less current liabilities: (1,711) 5,184
Creditors: amounts falling due after more than one year: 6 ( 3,984 ) ( 7,252 )
Total net assets (liabilities): (5,695) (2,068)
Members' funds
Profit and loss account: (5,695) ( 2,068)
Total members' funds: ( 5,695) (2,068)

The notes form part of these financial statements

WISDOM AGAINST RACISM CIC

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 27 September 2024
and signed on behalf of the board by:

Name: A KHANOM
Status: Director

The notes form part of these financial statements

WISDOM AGAINST RACISM CIC

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

    Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 15% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

    Other accounting policies

    Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

WISDOM AGAINST RACISM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

WISDOM AGAINST RACISM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 599 599
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 599 599
Depreciation
At 1 January 2023 218 218
Charge for year 57 57
On disposals
Other adjustments
At 31 December 2023 275 275
Net book value
At 31 December 2023 324 324
At 31 December 2022 381 381

WISDOM AGAINST RACISM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Other debtors 1,683 339
Total 1,683 339

WISDOM AGAINST RACISM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 3,195 2,900
Other creditors 570 1,618
Total 3,765 4,518

WISDOM AGAINST RACISM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 3,984 7,252
Total 3,984 7,252

COMMUNITY INTEREST ANNUAL REPORT

WISDOM AGAINST RACISM CIC

Company Number: 12367339 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

We have worked with a few schools this year, including a workshop with The Heys school where we delivered an anti racism workshop for students and led an ambassador programme. Schools who we have previously worked continue to provide us with reports of how our racial literacy curriculum is serving its full intended use. Our ambassador programme helps reduce incidents of racism in a school and helps students navigate, disarm and challenge racism.

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
27 September 2024

And signed on behalf of the board by:
Name: A KHANOM
Status: Director