ETINOLA SOLUTIONS CIC

Company limited by guarantee

Company Registration Number:
13162690 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

ETINOLA SOLUTIONS CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

ETINOLA SOLUTIONS CIC

Directors' report period ended 31 January 2024

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

Directors

The director shown below has held office during the whole of the period from
1 February 2023 to 31 January 2024

Oladele Olayinka OLASIYAN


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
15 January 2025

And signed on behalf of the board by:
Name: Oladele Olayinka OLASIYAN
Status: Director

ETINOLA SOLUTIONS CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 42,940 30,443
Gross profit(or loss): 42,940 30,443
Administrative expenses: ( 135,134 ) ( 32,305 )
Operating profit(or loss): (92,194) (1,862)
Profit(or loss) before tax: (92,194) (1,862)
Profit(or loss) for the financial year: (92,194) (1,862)

ETINOLA SOLUTIONS CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 349 523
Total fixed assets: 349 523
Current assets
Cash at bank and in hand: 1,862 4,402
Total current assets: 1,862 4,402
Creditors: amounts falling due within one year: 4 ( 110,250 ) ( 20,770 )
Net current assets (liabilities): (108,388) (16,368)
Total assets less current liabilities: (108,039) ( 15,845)
Total net assets (liabilities): (108,039) (15,845)
Members' funds
Profit and loss account: (108,039) ( 15,845)
Total members' funds: ( 108,039) (15,845)

The notes form part of these financial statements

ETINOLA SOLUTIONS CIC

Balance sheet statements

For the year ending 31 January 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 15 January 2025
and signed on behalf of the board by:

Name: Oladele Olayinka OLASIYAN
Status: Director

The notes form part of these financial statements

ETINOLA SOLUTIONS CIC

Notes to the Financial Statements

for the Period Ended 31 January 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

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures & Fittings 25% Straight line

    Other accounting policies

    The balance sheet is in net deficit. The accounts are prepared on going concern basis as the directors and members will continue to provide financial supports as and when required.

ETINOLA SOLUTIONS CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

ETINOLA SOLUTIONS CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 697 697
Additions
Disposals
Revaluations
Transfers
At 31 January 2024 697 697
Depreciation
At 1 February 2023 174 174
Charge for year 174 174
On disposals
Other adjustments
At 31 January 2024 348 348
Net book value
At 31 January 2024 349 349
At 31 January 2023 523 523

ETINOLA SOLUTIONS CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1 1
Accruals and deferred income 880 700
Other creditors 109,369 20,069
Total 110,250 20,770

ETINOLA SOLUTIONS CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Financial Commitments

The balance sheet is in net deficit. The accounts are prepared on going concern basis as the directors and members will continue to provide financial supports as and when required.

COMMUNITY INTEREST ANNUAL REPORT

ETINOLA SOLUTIONS CIC

Company Number: 13162690 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The company provides supported living accommodation to people with learning disabilities, Autism enduring mental health issues and brain injury. Accommodation provided by Etinola Solutions CIC are accessed by the members of the community, friends, families and supporters, health and social care practitioners, social workers, care coordinators for the benefits of their relatives and client. The organisation recognising the fact that recovery is an ongoing healing journey, supports residents to live a normal and fulfilling lives in the community enabling them to be as independent as they can be. The organisation promotes recovery and wellbeing-oriented housing, opposing stigma and discrimination around mental health issues in the community. Residents with learning disabilities, Autism, Mental health and brain injury has opportunity to integrate with the community whilst benefiting from the quality housing and support provided by Etinola Solutions CIC.

Consultation with stakeholders

The company’s stakeholders are residents and their families involved in their care. Social services, NHS and other professionals- care coordinators placement officers involved in the care of the residents. Consultation and feedback is via regular meetings with residents. Families and friends and other professionals also consult using emails.

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
15 January 2025

And signed on behalf of the board by:
Name: Oladele Olayinka OLASIYAN
Status: Director