for the Period Ended 29 February 2024
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
(
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(
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Other operating income: |
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Operating profit(or loss): |
( |
( |
Interest receivable and similar income: |
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Interest payable and similar charges: |
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Profit(or loss) before tax: |
( |
( |
Tax: |
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Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Fixed assets | |||
Intangible assets: | 3 |
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Tangible assets: | 4 |
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Investments: |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: |
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Cash at bank and in hand: |
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Investments: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
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 29 February 2024
Basis of measurement and preparation
for the Period Ended 29 February 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 29 February 2024
Goodwill | Other | Total | |
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Cost | £ | £ | £ |
At 1 March 2023 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 29 February 2024 |
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Amortisation | |||
At 1 March 2023 |
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Charge for year |
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On disposals |
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Other adjustments |
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At 29 February 2024 |
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Net book value | |||
At 29 February 2024 |
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At 28 February 2023 |
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for the Period Ended 29 February 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 March 2023 |
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Additions |
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Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 29 February 2024 |
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Depreciation | ||||||
At 1 March 2023 | ||||||
Charge for year | ||||||
On disposals | ||||||
Other adjustments | ||||||
At 29 February 2024 | ||||||
Net book value | ||||||
At 29 February 2024 |
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At 28 February 2023 |
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Sustainable Genius CIC operates SGMart, an online platform dedicated to selling unique items sourced from local charity shops, by showcasing such items to students primarily and the general public. Launched in March 2021, the e-commerce platform (https://sgmart.uk/) has continued to evolve with a focus on community impact. During the financial year from 1 March 2023 to 29 February 2024, Sustainable Genius CIC has made significant strides in supporting the community through various initiatives: The company is collaborating with Marketing & Branding Specialists to refine the website’s design and interface, enhance its SEO functionality, and improve communication via social media channels. These efforts aim to boost customer engagement on the platform. The updated website features a more attractive and interactive design, which has been positively received by the public. These enhancements have made the platform more user-friendly and appealing. The improved SGMart platform is being used for demonstration purposes to showcase its capabilities to potential partners and local charity shops. These demonstrations serve as a Proof of Concept, highlighting the benefits of joining the platform. Ongoing discussions are taking place with local charity shops to gain their participation in this initiative, as doing this does not only promote the e-commerce platform but also builds the network and impact of SGMart.
The key stakeholders of the company are potential online shoppers with an interest in reusable products and supporting local charity shops. There have been ongoing conversations with international students, who expressed a strong desire to purchase affordable and reusable household items. This further emphasises the need for online retail platforms, with a growing potential for enhanced engagement with sustainability-focused organisations. Sustainable Genius CIC is proactively taking steps in continuously redesigning its digital platforms, including the website and social media channels to improve the customer’s experience and satisfaction.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
2 January 2025
And signed on behalf of the board by:
Name: David Anowu
Status: Director