for the Period Ended 30 April 2024
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Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2024 | ||
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Profit(or loss) for the financial year: |
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As at
Notes | 2024 | ||
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Current assets | |||
Debtors: | 3 |
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Cash at bank and in hand: |
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Creditors: amounts falling due within one year: | 4 |
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Members' funds | |||
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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 30 April 2024
Basis of measurement and preparation
for the Period Ended 30 April 2024
2024 | ||
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Average number of employees during the period |
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for the Period Ended 30 April 2024
2024 | ||
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Other debtors |
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for the Period Ended 30 April 2024
2024 | ||
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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.
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.
No remuneration was received
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