INNOVATE MALVERN CIC

Company Registration Number:
09490455 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

INNOVATE MALVERN CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

INNOVATE MALVERN CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 436 838
Cash at bank and in hand: 15,787 16,070
Total current assets: 16,223 16,908
Creditors: amounts falling due within one year: 4 ( 491 ) ( 571 )
Net current assets (liabilities): 15,732 16,337
Total assets less current liabilities: 15,732 16,337
Total net assets (liabilities): 15,732 16,337
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 15,722 16,327
Total Shareholders' funds: 15,732 16,337

The notes form part of these financial statements

INNOVATE MALVERN CIC

Balance sheet statements

For the year ending 31 March 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 23 August 2024
and signed on behalf of the board by:

Name: Dr Adrian Burden
Status: Director

The notes form part of these financial statements

INNOVATE MALVERN CIC

Notes to the Financial Statements

for the Period Ended 31 March 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

INNOVATE MALVERN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

INNOVATE MALVERN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Prepayments and accrued income 431 738
Other debtors 5 100
Total 436 838

INNOVATE MALVERN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1 86
Accruals and deferred income 490 485
Total 491 571

COMMUNITY INTEREST ANNUAL REPORT

INNOVATE MALVERN CIC

Company Number: 09490455 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Innovate Malvern organised its annual flagship event, the Malvern Festival of Innovation, this year as just the Family Day on 7th October 2023. This was the twelfth edition of the festival and was held at the Malvern Library. The event promoted science, technology, engineering, mathematics (STEM) subjects to children and their families. During this period, Innovate Malvern’s director Dr Adrian Burden completed the delivery of the second series of his entrepreneurship workshops as part of the Business and IP Centre (BIPC) initiative, also in the Malvern Library. He also gave a talk about technology entrepreneurship to a local company as part of their seminar programme, hosted an entrepreneurship panel session at the University of Wolverhampton’s SciFest event, gave a talk about technology entrepreneurship to the cohort in Worcestershire’s business accelerator BetaDen, and spoke about tech entrepreneurship at Worcester’s Defcon meeting. In October, Dr Burden also delivered a talk on the A to Z of Innovation to the Colwall Probus Club. The Malvern Hills Raspberry Pi monthly computer workshops have continued in the Malvern Library with Innovate Malvern’s help. School-aged students are attending to learn about python, Scratch and other coding skills. Dr Burden additionally delivered a microscopy science activity as part of the Institute of Physics’ Science Funday in Great Malvern. The directors of Innovate Malvern have also continued to help the Book & Cup Cafe in Malvern Library with business planning and marketing guidance. The cafe remains an important community meeting place for a broad demographic of people living in Malvern, but especially the elderly, vulnerable and those interested in business topics, etc. Innovate Malvern also provided input to Worcestershire’s Innovation Focus Group and contributed to a panel session on innovation at WCC’s Business and Innovation event.

Consultation with stakeholders

The shareholders are currently the directors Dr E. Philpott and Dr A. Burden. The first-tier stakeholders are the local district council (Malvern Hills District Council), local and regional sponsors and supporters, and the venues we use for the events, especially Malvern Library. The second-tier stakeholders are the local members of public including students that attend the various events and benefit from participating in the activities. During this year we have continued to liaise with the first-tier stakeholders to shape the events including Malvern Festival of Innovation and business workshops so as to be relevant to their needs and goals (for example to promote Malvern as a hub of innovation and as a visitor destination, to promote STEM to school students, and to support entrepreneurship in the town). We also encouraged the second-tier stakeholders to participate in our activities through publicity and promotion in the local press, using social media and through various other school and business networks. We have also welcomed feedback and ideas for future content in our programme of events.

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
31 May 2024

And signed on behalf of the board by:
Name: Dr Adrian Burden
Status: Director