SEW LONDON PROJECT CIC

Company limited by guarantee

Company Registration Number:
12516866 (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

SEW LONDON PROJECT CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

SEW LONDON PROJECT CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

Teaching young people and adults’ Sustainable responsibility, we help to repurpose lives while reducing Textile waste from going into Landfill through sewing and upcycling health and wellbeing workshops.

Political and charitable donations

There were no political donations during the year under review.

Company policy on disabled employees

The CIC is an Equal Opportunities Facilitator.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Abimbolu Olukemi OLOYEDE
Joy ABOIM
Ade D'ALMEIDA


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 December 2024

And signed on behalf of the board by:
Name: Abimbolu Olukemi OLOYEDE
Status: Director

SEW LONDON PROJECT CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 3,132 156
Total fixed assets: 3,132 156
Current assets
Debtors: 4 698
Cash at bank and in hand: 14,787 11,320
Total current assets: 15,485 11,320
Creditors: amounts falling due within one year: 5 ( 590 ) ( 1,545 )
Net current assets (liabilities): 14,895 9,775
Total assets less current liabilities: 18,027 9,931
Total net assets (liabilities): 18,027 9,931
Members' funds
Profit and loss account: 18,027 9,931
Total members' funds: 18,027 9,931

The notes form part of these financial statements

SEW LONDON PROJECT 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 27 December 2024
and signed on behalf of the board by:

Name: Abimbolu Olukemi OLOYEDE
Status: Director

The notes form part of these financial statements

SEW LONDON PROJECT 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

    Turnover policy

    The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: -Plant and machinery - over 4 years. -Fixtures, fittings, tools and equipment - over 4 years.

    Other accounting policies

    Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

SEW LONDON PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

SEW LONDON PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 624 624
Additions 4,697 4,697
Disposals
Revaluations
Transfers
At 31 March 2024 5,321 5,321
Depreciation
At 1 April 2023 468 468
Charge for year 1,721 1,721
On disposals
Other adjustments
At 31 March 2024 2,189 2,189
Net book value
At 31 March 2024 3,132 3,132
At 31 March 2023 156 156

SEW LONDON PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Other debtors 698
Total 698

SEW LONDON PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 590 1,545
Total 590 1,545

COMMUNITY INTEREST ANNUAL REPORT

SEW LONDON PROJECT CIC

Company Number: 12516866 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The following activities promoted environmental sustainability, skill development, and com-munity well-being, aligning with the mission to foster a circular economy and reduce textile waste. -Workshops and Repair Cafes: As part of the East London Waste Authority (ELWA) Repair Cafe team, Sew London facilitated 22 sewing, repair, and alteration workshops across New-ham, Redbridge, Havering, and Barking & Dagenham. These sessions taught essential sewing skills, helping attendees, including low-income families, reduce costs and carbon foot-prints by maintaining their garments. Promoting Circular Fashion: The project engaged environmentally conscious consumers and vintage enthusiasts through its preloved clothing resale and rental services. This initiative appealed to individuals looking to extend the lifecycle of their clothes or access unique garments for special occasions. -Corporate Collaborations: Partnerships with organizations like Land Security for sustainable sewing workshops and waste management companies such as Loop Recycle and John Lewis provided second-hand materials. These efforts not only diverted textiles from landfills but also supported the project's social enterprise. -ANCCC Dothman gets a new defence spectacle. Pop-Up Shop and eBay for Change: In 2023, Sew London launched a pop-up shop in Redbridge, showcasing rescued textiles and preloved garments, and joined the eBay for Change program to expand its online reach for sustainable fashion. Community Impact and Volunteering: Sew London contributed to the local community by creating 12 bereavement patchwork blankets for patients and families at Queens Hospital in Romford and running 24 sewing workshop sessions attended by more than 50 participants. -Support for Small Businesses: The professional alteration services also served small businesses and creatives, enabling them to maintain garments and create sustainable fashion products.

Consultation with stakeholders

-Local Community Members: Individuals who participate in workshops, use repair services, or shop for preloved and rental clothing. -Corporate Partners: Businesses such as John Lewis, Loop Recycle, and others that provide in-kind donations, sponsorships, or collaborate on sustainability initiatives. -Local Councils and Grant Providers: Entities like the London Borough of Barking and Dagenham, which fund or support projects. -Workshop Participants: Those attending sewing, repair, and upcycling training sessions. -Employees and Volunteers: Staff and volunteers engaged in daily operations, workshops, and community outreach. Consultation and Response The Sew London Project consults its stakeholders through: -Community Feedback: Surveys and verbal input from workshop participants and customers. Feedback has led to the expansion of workshop topics and repair cafe offerings. -Corporate Collaboration: Dialogue with partners like John Lewis has helped improve product sourcing and develop shared sustainability goals. -Local Authority Input: Grants and projects have often been designed or adjusted based on council priorities, such as environmental goals or community education needs.

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 December 2024

And signed on behalf of the board by:
Name: Abimbolu Olukemi OLOYEDE
Status: Director