THE SILKWORTH PROJECT CIC

Company limited by guarantee

Company Registration Number:
14810662 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 18 April 2023

End date: 30 April 2024

THE SILKWORTH PROJECT CIC

Contents of the Financial Statements

for the Period Ended 30 April 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE SILKWORTH PROJECT CIC

Profit And Loss Account

for the Period Ended 30 April 2024

2024


£
Turnover: 0
Cost of sales: ( 13,813 )
Gross profit(or loss): (13,813)
Distribution costs: 0
Administrative expenses: ( 5,630 )
Other operating income: 0
Operating profit(or loss): (19,443)
Profit(or loss) before tax: (19,443)
Profit(or loss) for the financial year: (19,443)

THE SILKWORTH PROJECT CIC

Balance sheet

As at 30 April 2024

Notes 2024


£
Current assets
Debtors: 3 1,000
Cash at bank and in hand: 14
Total current assets: 1,014
Creditors: amounts falling due within one year: 4 ( 20,457 )
Net current assets (liabilities): (19,443)
Total assets less current liabilities: (19,443)
Total net assets (liabilities): (19,443)
Members' funds
Profit and loss account: (19,443)
Total members' funds: ( 19,443)

The notes form part of these financial statements

THE SILKWORTH PROJECT CIC

Balance sheet statements

For the year ending 30 April 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 14 January 2025
and signed on behalf of the board by:

Name: Harry Kavanagh
Status: Director

The notes form part of these financial statements

THE SILKWORTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 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

THE SILKWORTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

THE SILKWORTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Debtors

2024
£
Other debtors 1,000
Total 1,000

THE SILKWORTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

2024
£
Trade creditors 0
Other creditors 20,457
Total 20,457

COMMUNITY INTEREST ANNUAL REPORT

THE SILKWORTH PROJECT CIC

Company Number: 14810662 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

The Silkworth Project CIC provides supported housing for vulnerable adults and individuals facing homelessness. Our accommodations are divided into two key categories: transitional housing and ab-stinent housing. Abstinent Housing: Designed for individuals who have successfully completed treatment and are committed to maintaining their recovery journey in a safe, structured environment. Transitional Housing: Supports individuals who are still on their path toward stability, offering a supportive and secure space to aid in their progress toward independence and recovery. Since opening its first home in November 2023, The Silkworth Project has rapidly expanded and now accommodates 80 residents across Portsmouth: 52 in transitional housing and 28 in abstinent housing. Achievements and Impact Our abstinent housing program has seen significant success, with 4 residents moving on to secure their own independent accommodation. Meanwhile, 8 residents from our transitional housing have successfully progressed to abstinent housing, showcasing the effectiveness of our step-by-step support model. We have also established a seamless transition process for local rehabilitation centres, enabling pa-tients to move into our abstinent housing upon completing their treatment programs. This collabora-tion provides a vital move-on pathway, ensuring individuals can maintain their recovery in a stable, supportive setting. Increasing Support for the Homeless Through our expanding housing stock, The Silkworth Project can make an even greater impact on the community. By increasing the number of bed spaces available, we can accommodate more individuals facing homelessness, addressing a critical need in the local area. This expansion benefits not only the individuals we support but also the broader community by reduc-ing homelessness, easing pressure on local services, and fostering a safer, more inclusive environ-ment for everyone. Our commitment to growth over the next 36 months will enable us to provide vital support to even more residents across Hampshire, helping them rebuild their lives and contribute positively to the community.

Consultation with stakeholders

Between December 2023 and December 2024, The Silkworth Project engaged in extensive consulta-tions with Portsmouth City Council and Portsmouth Probation. These discussions were initiated in re-sponse to the rapid growth of the project and the increasing number of residents accommodated by Silkworth. During this period, key stakeholders sought to gain a deeper understanding of the support packages and accommodation services offered by Silkworth. This dialogue provided an opportunity to demon-strate the comprehensive and tailored nature of our services, as well as the dedication of our team to delivering high-quality support to vulnerable individuals. Looking ahead to 2025, Silkworth is committed to fostering strong partnerships with multiple services and agencies. By building collaborative relationships with local authorities, probation services, healthcare providers, and other key stakeholders, we aim to create more integrated pathways for in-dividuals in need. Our focus will be on: Establishing Multi-Agency Relationships: Engaging with local services to ensure cohesive support for residents transitioning through different stages of recovery and housing. Developing Pathways: Streamlining processes to ensure smooth transitions for individuals moving between services, including from rehabilitation centres to abstinent housing. Enhancing Support Packages: Continuously refining and expanding the range of support op-tions available to meet the evolving needs of our residents. These efforts reflect Silkworth’s ongoing dedication to not only meeting the immediate housing needs of vulnerable individuals but also to providing a foundation for long-term stability and success. By working in partnership with the wider community, we aim to drive meaningful change and build a more supportive and inclusive environment for all.

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
14 January 2025

And signed on behalf of the board by:
Name: Harry Kavanagh
Status: Director