PURBANAT COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
09040173 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

PURBANAT COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

PURBANAT COMMUNITY INTEREST COMPANY

Directors' report period ended 31 May 2024

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

Principal activities of the company

Purbanat CIC addresses the artistic, cultural, and social needs of people from all walks of life, regardless of ethnicity, religion, cultural background, age, or sexual orientation.

Additional information

Purbanat believes that fostering collaboration among diverse communities is key to achieving our vision of improving the well-being of society as a whole. Our mission is to deliver community-driven arts programs that benefit others while creating opportunities for diaspora artists to practice and develop their talents in a safe, supportive environment. By encouraging participation and creativity, Purbanat aims to build stronger, more inclusive communities where everyone can thrive. The company has ring-fenced £65,000 from its accumulated reserves until 31 May 2024 to be used for any suitable investment opportunity that might bring the organisation regular income streams. There was a community contribution of £8,710 which are unrestricted funds. Total accumulated unrestricted fund is £13,430.



Directors

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

Mohammed Abu Haider Choudhury
Rasanaha Khan
Yeahyea Murad Khan
Mohammad Rajib Haq Raju


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
3 January 2025

And signed on behalf of the board by:
Name: Mohammad Rajib Haq Raju
Status: Director

PURBANAT COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 134,465 148,020
Gross profit(or loss): 134,465 148,020
Administrative expenses: ( 100,945 ) ( 160,354 )
Operating profit(or loss): 33,520 (12,334)
Profit(or loss) before tax: 33,520 (12,334)
Profit(or loss) for the financial year: 33,520 (12,334)

PURBANAT COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Current assets
Debtors:   0 0
Cash at bank and in hand: 186,254 152,734
Total current assets: 186,254 152,734
Creditors: amounts falling due within one year: 3 ( 18,709 ) ( 18,709 )
Net current assets (liabilities): 167,545 134,025
Total assets less current liabilities: 167,545 134,025
Total net assets (liabilities): 167,545 134,025
Members' funds
Profit and loss account: 167,545 134,025
Total members' funds: 167,545 134,025

The notes form part of these financial statements

PURBANAT COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 May 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 3 January 2025
and signed on behalf of the board by:

Name: Mohammad Rajib Haq Raju
Status: Director

The notes form part of these financial statements

PURBANAT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 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

    Purpose: This turnover policy establishes how Purbanat recognises and records its income from various activities in compliance with UK accounting standards and the principles outlined in FRS 102, Section 1A. Scope: This policy applies to all sources of income, including ticket sales, grants, donations, workshop fees, sponsorships, and other revenue streams generated by the organisation. Policy Statement: The organisation recognises turnover as the total income generated from its activities during the financial year, excluding VAT and other taxes if applicable. Revenue is recognized based on the following criteria: (1) Earned Income: - Income from ticket sales, workshops, and performances is recognized at the point the event or service is delivered. - Advance payments for events or services are recorded as deferred income and recognized when the event occurs or the service is provided. (2) Grants and Donations: - Grants tied to specific projects are recognized as income when the related conditions are met. - Unrestricted grants and donations are recognized upon receipt. - Where grants span multiple years, income is recognized in proportion to the expenditure incurred during the reporting period. (3) Sponsorship and Partnerships: Sponsorship income is recognized when contractual obligations are fulfilled, typically upon the delivery of agreed benefits to the sponsor. (4) Membership Fees: Membership fees are recognized over the period of membership to reflect the ongoing provision of benefits to members. (5) Merchandise and Sales: Revenue from merchandise sales is recognised when ownership transfers to the customer, usually at the point of sale. (6) Income in Kind: Non-monetary contributions, such as donated space or materials, are recognised at their fair value if they are significant and measurable. Exclusions: - VAT and other taxes collected on behalf of the government are excluded from turnover. - Grants received specifically for capital projects are treated as deferred income and released over the useful life of the related asset. Monitoring and Reporting: The turnover policy is reviewed annually by the board of directors to ensure compliance with applicable accounting standards and regulations. The organisation maintains detailed records to ensure transparency and accountability in its financial reporting.

    Tangible fixed assets depreciation policy

    Purpose: This policy outlines the treatment of tangible fixed assets owned by Purbanat CIC, including their recognition, valuation, and depreciation. The aim is to ensure compliance with UK accounting standards (FRS 102, Section 1A) and maintain accurate financial records. Scope: This policy applies to all tangible fixed assets owned by Purbanat CIC, including but not limited to: Office equipment Furniture and fixtures Computer hardware Stage props and equipment Leasehold improvements Policy Statement: (1) Recognition and Valuation: Tangible fixed assets are recognized when: a) It is probable that future economic benefits will flow to the organization. b) The cost of the asset can be measured reliably. Assets are initially recorded at cost, including the purchase price and any directly attributable costs. (2) Depreciation Methods and Rates: - Depreciation is charged to the income statement on a straight-line basis over the estimated useful life of the asset to reflect its usage and wear. - Depreciation begins when the asset is available for use. Asset Category - Depreciation Rate - Estimated Useful Life Office Equipment - 20% - 5 years Furniture and Fixtures - 10% - 10 years Computer Hardware - 25% - 4 years Stage Props and Equipment - 33% - 3 years Leasehold Improvements - Over the life of the lease - Varies (3) Residual Value: A residual value may be applied to certain assets if it is expected they will retain significant value after their useful life. (4) Impairment: Assets are reviewed annually for impairment. If an asset's recoverable amount is less than its carrying amount, an impairment loss is recognized. (5) Disposal of Assets: Upon disposal, the asset's carrying value is removed from the books, and any resulting gain or loss is recorded in the income statement. Monitoring and Review: This policy will be reviewed annually by the board of directors to ensure its continued relevance and compliance with applicable accounting standards.

PURBANAT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

PURBANAT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 18,109 18,109
Other creditors 600 600
Total 18,709 18,709

COMMUNITY INTEREST ANNUAL REPORT

PURBANAT COMMUNITY INTEREST COMPANY

Company Number: 09040173 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

Purbanat Community Interest Company, founded in May 2014, addresses the artistic, cultural, and social needs of people from all walks of life, regardless of ethnicity, religion, cultural background, age, or sexual orientation. During the financial year 2023-24, the organisation’s activities have benefited the community in the several ways: - Purbanat organised regular arts and sports sessions for the young people. - Purbanat also arranged a series of gardening sessions where gardening enthusiastic community members participated to share ideas, tips, and expertise. We also distributed gardening tools to those who were unable to buy on their own. At the end of the growing season, the participants organised a celebration event to share food and showcase their produce. - Purbanat organised its annual event: Birmingham Multicultural Fest in Feb 2024 where artists from 12 ethnic communities participated to show their cultural heritage. - Purbanat arranged an arts residential in Summer-2023 with young people and adults where 48 people participated that 3-day long event. - Purbanat celebrated the Mayor's weekend with the diverse local artists. - Commissioned by Birmingham City Council, Purbanat distributed 50 digital devices among the community people who really need them. Purbanat's work was recognised with a certificate for 'Greatest Number of Citizens to Benefit from Devices' by BCC and Birmingham City University.

Consultation with stakeholders

The internal stakeholders of Purbanat are the Directors, Advisers, and Members. External stakeholders are volunteers and community members. Our advisers meet 3 times a year. The directors hold the legal responsibility of the company. We hold fortnightly meetings with our core members and volunteers. In those meetings, we review our ongoing works and plan for the future tasks. Also, before taking any new project, we arrange consultation meetings with the community members to understand their needs. We also run small surveys to collect feedback from the project beneficiaries. Our community meetings are open to anyone who wishes to attend, where all ideas and feedback are welcomed, discussed and if required, actioned.

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
3 January 2025

And signed on behalf of the board by:
Name: Mohammad Rajib Haq Raju
Status: Director