REHOBOTH WELL CIC

Company limited by guarantee

Company Registration Number:
13885967 (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

REHOBOTH WELL 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

REHOBOTH WELL 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

Principal activities of the company

The principal activity of the company is to provide access to good quality pre loved clothes for the community



Directors

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

Lydia Mary Palmer


The director shown below has held office during the period of
10 May 2023 to 29 February 2024

Lee Palmer


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
26 November 2024

And signed on behalf of the board by:
Name: Lydia Mary Palmer
Status: Director

REHOBOTH WELL CIC

Profit And Loss Account

for the Period Ended 29 February 2024

2024 13 months to 28 February 2023


£

£
Turnover: 55,484 38,711
Cost of sales: ( 36,505 ) ( 6,950 )
Gross profit(or loss): 18,979 31,761
Administrative expenses: ( 5,706 ) ( 1,925 )
Operating profit(or loss): 13,273 29,836
Profit(or loss) before tax: 13,273 29,836
Tax: ( 3,160 ) ( 5,094 )
Profit(or loss) for the financial year: 10,113 24,742

REHOBOTH WELL CIC

Balance sheet

As at 29 February 2024

Notes 2024 13 months to 28 February 2023


£

£
Fixed assets
Tangible assets: 3 12,697 2,978
Total fixed assets: 12,697 2,978
Current assets
Cash at bank and in hand: 25,813 26,858
Total current assets: 25,813 26,858
Net current assets (liabilities): 25,813 26,858
Total assets less current liabilities: 38,510 29,836
Creditors: amounts falling due after more than one year: 4 ( 3,655 ) ( 5,094 )
Total net assets (liabilities): 34,855 24,742
Members' funds
Profit and loss account: 34,855 24,742
Total members' funds: 34,855 24,742

The notes form part of these financial statements

REHOBOTH WELL 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 26 November 2024
and signed on behalf of the board by:

Name: Lydia Mary Palmer
Status: Director

The notes form part of these financial statements

REHOBOTH WELL 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 that future economic benefits will flow to the entity; and specific criteria have been met for each of the company activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets over their estimated useful life of 5 years.

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 13 months to 28 February 2023
    Average number of employees during the period 0 0

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 3,722 3,722
Additions 13,079 13,079
Disposals
Revaluations
Transfers
At 29 February 2024 16,801 16,801
Depreciation
At 1 March 2023 744 744
Charge for year 3,360 3,360
On disposals
Other adjustments
At 29 February 2024 4,104 4,104
Net book value
At 29 February 2024 12,697 12,697
At 28 February 2023 2,978 2,978

REHOBOTH WELL CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

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

2024 13 months to 28 February 2023
£ £
Other creditors 3,655 5,094
Total 3,655 5,094

COMMUNITY INTEREST ANNUAL REPORT

REHOBOTH WELL CIC

Company Number: 13885967 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

We have continued to build up the company through the 3 shops in Burslem, selling preloved clothing and preloved and upcycled furniture at very affordable prices and receiving an award for Family Engagement. We continue to work with many agencies including Stoke on Trent City Council and Port Vale Foundation providing families in need, vulnerable adults and women coming out of domestic violence with free clothing, household items and furniture. We have also connected with the Princes Trust, offering placements for young people struggling with education. They have placements with us which encourages them to participate in our day to day running of the shops, furniture upcycling and building up their skills for future employment. The Rehoboth Well CIC has been awarded funding to expand our work and in turn we can more people in need in the community. The funding has also meant that we have been able to employ one of our volunteers who has come through addiction recovery and is now helping to shape the future of Rehoboth. The impact on the community has been very successful in many ways. The bringing back into use of 3 shops in a very disadvantaged area, in itself has brough life back to a struggling town. The working together with agencies has given families and individuals struggling to make ends meet, the very provisions they were in desperate need for. The volunteers are invaluable to what we do, in turn they receive training and work experience with increases employability.

Consultation with stakeholders

Stakeholders are: Stoke on Trent City Council - Adult and Children's safeguarding team Stoke on Trent City Council - locality workers and community lounges Social prescribers Local Police Schools Homeless organisations Glow - Domestic Violence Agency New Era - Domestic Violence Agency Princes Trust (Kings Trust) The genera public who are our customers

Directors' remuneration

See accounts

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Lydia Palmer
Status: Director