for the Period Ended 31 March 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2024
Directors
The directors shown below have held office during the whole of the period from
1 April 2023
to
31 March 2024
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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(
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Gross profit(or loss): |
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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 payable and similar charges: |
(
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Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
(
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(
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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: | 6 |
(
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(
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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: |
( |
( |
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 31 March 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 March 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 March 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 April 2023 |
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Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 March 2024 |
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Depreciation | ||||||
At 1 April 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 31 March 2024 |
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Net book value | ||||||
At 31 March 2024 |
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At 31 March 2023 |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Total |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Other creditors |
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Total |
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Hub Weston CIC is a not-for-profit community interest company committed to driving positive change in Weston-super-Mare and the surrounding villages of North Somerset. Over the past financial year, we have delivered a range of initiatives that have had a significant and lasting impact on the community. Activities: Our cornerstone project, The Stable, functions as a dynamic community enterprise hub, supporting start-up social enterprises, local businesses, charities, the Voluntary, Community, and Social Enterprise (VCSE) sector, community projects, and employability programs across North Somerset. The Stable encompasses several key elements: - The Stable Games Room - Stable Foundations - The Stable Pop Up Shop - Stable Cafe These initiatives cater to a wide range of community needs and create opportunities for collaboration and growth. Our space supports a vibrant mix of individuals and groups, including Artists and Makers, VCSE organisations, Digital Tech enthusiasts, Film and Media creatives, Health and Well-being Practitioners, Engineers, Writers, Project Managers, and hot desk users, all contributing to a flourishing local ecosystem. Community Benefits: 1. Empowering Vulnerable Groups We provide training and employment opportunities for individuals facing challenges such as learning disabilities, health issues, long-term unemployment, and barriers to work. Our efforts also extend to young people aged 16 to 24, fostering inclusivity and enabling pathways to meaningful employment and engagement. 2. Driving Local Economic Growth Through our initiatives, we have supported the development of services that directly benefit the community and bolster the local economy. By easing the strain on statutory services and strengthening economic resilience, we play an active role in fostering sustainable growth. 3. Providing a Community Hub The Stable serves as a versatile space for education, business activities, cultural pursuits, and the arts. It is a hub for creativity, collaboration, and innovation, fostering community pride and connection. 4. Supporting Enterprise and Leadership We empower entrepreneurs, business leaders, and VCSE organisations by offering support and resources to help them thrive. This includes facilitating networking, skills development, and growth opportunities that enhance individual and collective success. 5. Improving Well-being and Breaking Cycles of Deprivation Our activities contribute to better mental health, quality of life, and community cohesion. By creating opportunities and breaking down barriers, we help individuals lead fulfilling lives and contribute positively to society. Summary: Hub Weston CIC's work during the financial year has delivered a far-reaching and multifaceted impact on the community. Through inclusivity, economic development, and support for wellbeing, we continue to be a catalyst for positive change in Weston-super-Mare and the wider North Somerset area.
At Hub Weston CIC, engaging with stakeholders is central to our approach, ensuring that our activities align with the needs of the community we serve. Over the past year, we have actively sought input from a diverse range of stakeholders, including individuals, organisations, and groups, to inform our planning and decision-making processes. Methods of Consultation: 1. Community Engagement Events We hosted regular open days, workshops, and networking events at The Stable, inviting feedback from community members, local businesses, VCSE organisations, and service users. These events foster dialogue, ensuring our services remain relevant and responsive. 2. Surveys and Feedback Forms We distributed surveys to stakeholders, including beneficiaries of our programs, to gather insights into their needs, challenges, and experiences with our services. This feedback directly influenced the development of new initiatives and the enhancement of existing ones. 3. Collaborative Partnerships Regular consultations with partners such as Age UK, U3A, local councils, and employment services like Seetec and DWP helped us identify gaps in local services and co-develop solutions. These collaborations also enabled us to expand the reach and impact of our initiatives. 4. Stakeholder Forums We convened forums with local entrepreneurs, VCSE leaders, and community representatives to discuss opportunities for growth and areas for improvement within The Stable’s ecosystem. 5. Individual Consultations For specific projects, we held one-on-one consultations with key stakeholders, such as young people, adults with learning disabilities, and individuals facing barriers to employment, to better understand their unique perspectives and tailor our support accordingly. Outcomes of Consultation: - Improved Services: Feedback led to the expansion of The Stable’s facilities, including enhancements to the Stable Games Room and increased access to training and employability programs. - New Initiatives: Based on community input, we launched additional pop-up shop opportunities for local makers and introduced targeted mental health support activities. - Strengthened Collaboration: Insights from partners informed joint initiatives that addressed local challenges, such as reducing isolation among older people and increasing employability skills among young adults. - Greater Inclusivity: Stakeholder feedback ensured our services remained accessible and inclusive, particularly for vulnerable groups. Through ongoing consultation, we maintain a strong connection with our community, ensuring our work continues to reflect and meet their evolving needs.
The total amount paid to directors in respect of qualifying services was £49,862. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
23 December 2024
And signed on behalf of the board by:
Name: Jemma Coles
Status: Director