for the Period Ended 31 March 2024
Balance sheet | |
Additional notes | |
Community Interest Report |
As at
Notes | 13 months to 31 March 2024 | ||
---|---|---|---|
|
£ |
||
Fixed assets | |||
Intangible assets: |
|
||
Tangible assets: |
|
||
Investments: |
|
||
Total fixed assets: |
|
||
Current assets | |||
Stocks: |
|
||
Debtors: |
|
||
Cash at bank and in hand: |
|
||
Investments: |
|
||
Total current assets: |
|
||
Prepayments and accrued income: |
|
||
Creditors: amounts falling due within one year: |
|
||
Net current assets (liabilities): |
|
||
Total assets less current liabilities: |
|
||
Creditors: amounts falling due after more than one year: |
|
||
Provision for liabilities: |
|
||
Accruals and deferred income: |
|
||
Total net assets (liabilities): |
|
||
Members' funds | |||
Profit and loss account: |
|
||
Total members' funds: |
|
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2024
Basis of measurement and preparation
for the Period Ended 31 March 2024
13 months to 31 March 2024 | ||
---|---|---|
Average number of employees during the period |
|
Closure** **Introduction** This report outlines the activities and challenges faced by the Community Interest Company (CIC) during its initial operational year. It details the efforts made by the director to promote the service, the engagement with the community, and the subsequent decision to close the service due to funding issues and personal commitments. Happy Valley Caring Companion CIC Was an initiative created to help eradicate loneliness amongst people living in Calderdale by offering companionship roles, for activities within the immediate and wider reaching community. **Initial Investment and Promotion** The director of the CIC invested personal funds to create promotional materials, including flyers, and initiated a targeted marketing campaign to raise awareness of the services offered. A dedicated website was developed to enhance outreach and facilitate connection with the community. **Community Engagement** In the first year, we looked at free options to provide a service while we looked at funding. It is very difficult to achieve donations if you aren’t a well established organisations. The CIC established an online Facebook group aimed at individuals experiencing ill health. This platform was designed to foster a crafting community where members could connect, share experiences, and support one another. While the intention was to provide a unique space for interaction, it became evident that the service overlapped with existing, better-funded initiatives in the area. At the same time, though the concept itself was good due to the small amount of users at( 52)the founders decided that there were other services that met the need and therefore funding was not agreed. **Challenges Faced** Despite the initial enthusiasm and effort, the CIC faced significant challenges: 1. **Funding Issues**: The organisation struggled to secure necessary funding, which was crucial for sustaining operations. Repeated applications for financial support were unsuccessful, limiting the ability to expand services or maintain current offerings. 2. **Competition**: Established services that were already well-funded overshadowed the CIC’s initiatives. Efforts to raise the profile of the organization through free methods, such as the Facebook group, were insufficient to compete against these larger entities.' 3. **Personal Commitments**: As the year progressed, the directors faced increasing personal health challenges and other commitments, which severely limited their ability to dedicate time to the CIC. **Conclusion and Closure** Given the ongoing health issues faced by the directors and the inability to secure funding, the CIC can no longer operate effectively. After careful consideration, it has been determined that the service will close. The decision was not made lightly, as the intention was always to support the community. However, without financial backing and the capacity to manage operations, continuing the service is not feasible. The CIC remains open to the possibility of future endeavours should circumstances change, but for now, we will cease operations and focus on the well-being of our directors and community members. We still very much believe that this is a service without overlap especially given our experience as mental health nurses. There are a large amount of people being left out of social activities and this is increasing more and more each day. **Recommendations for Future Initiatives** 1. **Explore Partnership Opportunities**: Future initiatives should consider partnerships with established organisations to leverage resources and funding. 2. **Focus on Niche Services**: Identifying and targeting a specific niche within the community may provide a more sustainable path forward. 3. **Health and Well-being Support**: Prioritise the health and well-being of directors and volunteers to ensure that personal commitments are manageable alongside community service efforts. The CIC remains grateful for the support received from the community and hopes to inspire future efforts to improve the lives of those in need.
Conversations with Funding Organisations **Objective:** To secure financial support for the CIC. **Key Points Discussed:** - **Mission and Impact:** The director presented the mission of the CIC to support individuals with ill health through creative activities. Emphasis was placed on the positive impact of crafting on mental and emotional well-being. Funding Needs: The director outlined specific financial needs, including costs for materials, promotional activities, and operational expenses to the National Lottery Fund Disabled Charities -Outcomes and Metrics:Discussion included how the success of the CIC would be measured, such as member engagement levels, feedback from participants, and community outreach efforts. - **Challenges Faced:** The director candidly shared the difficulties in securing funding and the competitive landscape of health-related services. **Outcome:** Unfortunately, these conversations did not lead to funding approvals, as many organisations preferred to support more established initiatives. Meetings with Local Health Services** **Objective:** To establish partnerships and promote the CIC’s services. Director went along to other established initiatives and spoke to participants and those who are running already established service; looking at the service need and to minimise overlap. It was clear that some initiatives achieve funding for services that they simply are not or aren’t able to deliver. **Key Points Discussed:** - **Collaboration Opportunities:** The director sought to collaborate with local health services to refer patients to the CIC for support through crafting and community connection. - **Benefits of Crafting:** Emphasised the therapeutic benefits of crafting for individuals dealing with health challenges and how it could complement existing health services. - **Resource Sharing:** Proposed the idea of sharing resources and information about events, workshops, and available support, creating a mutual benefit. **Outcome:** While there was interest from health service representatives, the competition from better-funded programs limited their ability to refer patients to the CIC. The cost and responsibilities e.g safeguarding far outweighed the health capabilities of directors. ### 3. **Feedback Sessions with Community Members** **Objective:** To gather insights and feedback from potential participants. **Key Points Discussed:** - **Community Needs:** Engaged participants in discussions about what types of crafting activities they would find beneficial and what support they were seeking. - **Barriers to Participation:** Listened to concerns about accessibility, scheduling, and awareness of the CIC’s offerings. - **Suggestions for Improvement:** Participants provided suggestions for workshops, events, and how to improve communication and engagement through social media platforms. **Outcome:** Valuable insights were gained, but many participants expressed that they were already engaged with other established services, affecting their willingness to join the CIC. It appeared that much more time was needed to grow the group organically but there appeared to be more emphasis on teacher or mentor led interactions rather than people establishing relationships on their own. A lot of the service, hinges on people who have identified that they are lonely and want to establish meaningful connections. ### 4. **Conversations with Volunteers and Supporters** **Objective:** To enlist volunteers and build a support network for the CIC. **Key Points Discussed:** - **Volunteer Roles:** Discussed various roles that volunteers could take on, such as organizing events, leading crafting sessions, and promoting the CIC within the community. - **Training and Support:** Addressed the need for training or resources to prepare volunteers for their roles and ensure they felt equipped to support participants effectively. - **Commitment Levels:** Explored the availability of volunteers and their willingness to commit time, especially given the directors’ increasing health challenges. **Outcome:** Some individuals expressed interest in volunteering. However the cost of DBS checks was impossible without funding. Volunteers were encouraged to pursue other endeavours during the wait for funding to pay for DBS checks etc . Ultimately, attempts for funding was declined meanwhile there was concern about the sustainability of the CIC involvement given the directors’ health issues and the resignation of the Co directors ### 5. **Discussions with Other Community Organizations** **Objective:** To identify potential partnerships and collaborations. **Key Points Discussed:** - **Shared Goals:** Highlighted common objectives in supporting individuals with health challenges and discussed how collaboration could enhance service offerings. - **Joint Events:** Explored the possibility of co-hosting events or workshops that could draw on the strengths of both organizations. - **Resource Pooling:** Discussed strategies for pooling resources, whether through shared materials, venues, or promotional efforts. **Outcome:** While there was enthusiasm for collaboration, existing commitments and funding constraints on both sides made immediate partnerships challenging. ### Conclusion These conversations with stakeholders reveal the complexity of establishing and sustaining a community interest initiative like the CIC. The interactions underscore the importance of collaboration, the need for clear communication of mission and impact, and the challenges posed by competition for funding and resources. Despite the setbacks, these discussions provided valuable insights that could inform future endeavours in community support and engagement.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
28 November 2024
And signed on behalf of the board by:
Name: Sherie Bottomley
Status: Director