for the Period Ended 31 January 2025
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2025 | 2024 | |
---|---|---|
|
£ |
£ |
Turnover: |
|
|
Gross profit(or loss): |
|
|
Distribution costs: |
(
|
(
|
Administrative expenses: |
(
|
(
|
Operating profit(or loss): |
( |
|
Profit(or loss) before tax: |
( |
|
Profit(or loss) for the financial year: |
( |
|
As at
Notes | 2025 | 2024 | |
---|---|---|---|
|
£ |
£ |
|
Fixed assets | |||
Tangible assets: | 3 |
|
|
Total fixed assets: |
|
|
|
Net current assets (liabilities): | |||
Total assets less current liabilities: |
|
|
|
Creditors: amounts falling due after more than one year: | 4 |
(
|
|
Total net assets (liabilities): |
|
|
|
Capital and reserves | |||
Called up share capital: |
|
|
|
Profit and loss account: |
( |
|
|
Total Shareholders' 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 January 2025
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 31 January 2025
2025 | 2024 | |
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 31 January 2025
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 February 2024 |
|
|
||||
Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 January 2025 |
|
|
||||
Depreciation | ||||||
At 1 February 2024 |
|
|
||||
Charge for year |
|
|
||||
On disposals | ||||||
Other adjustments | ||||||
At 31 January 2025 |
|
|
||||
Net book value | ||||||
At 31 January 2025 |
|
|
||||
At 31 January 2024 |
|
|
for the Period Ended 31 January 2025
2024 | ||
---|---|---|
£ | ||
Other creditors |
|
|
Total |
|
During this financial year, Present Mind Wellness C.I.C. has focused on establishing its foundation and developing its offerings to benefit the residents of Watford and surrounding areas. Six students successfully completed the initial ESOL course, representing a significant achievement for each individual and exceeding initial projections for a pilot program. This directly supports Present Mind Wellness' objective of improving personal development and wellbeing, as language acquisition is a crucial step in personal growth and empowerment. In addition to delivering ESOL courses, significant effort has been dedicated to building the infrastructure for future activities. This includes a complete redesign of the company website to improve accessibility and user experience, as well as the design and development of new online courses focused on Toolkit for the Modern World, Toolkit for Optimal Health, and Em-powered Living for Women. These online courses are intended to provide flexible and ac-cessible learning opportunities and, once launched, will generate passive income to support the long-term sustainability of the CIC and its community benefit activities. The development of these online resources directly addresses the CIC's objectives of supporting individuals interested in mindfulness and wellbeing, those struggling with stress or health conditions, and those seeking personal development. Furthermore, Present Mind Wellness C.I.C. has been actively building its presence on social media platforms to engage with the community and raise awareness of its services. This effort aims to connect with a wider audience and promote the importance of mental and physical wellbeing. Planning is also underway for the launch of wellbeing retreats in the coming year. These retreats will offer immersive experiences focused on personal development and wellbeing, further expanding the CIC's reach and impact within the community. While these retreats have not yet taken place within this reporting period, the preparatory work demonstrates the CIC's ongoing commitment to fulfilling its stated objectives and expanding its range of services to the community. Finally, Present Mind Wellness C.I.C. has benefited from the support of a business growth advisor from WENTA, who has provided valuable guidance and assistance in developing the CIC's strategic direction and ensuring its long-term sustainability. The CIC is confident that these activities, both current and planned, will contribute signifi-cantly to the health and wellbeing of the community it serves, fulfilling its social objectives and creating a positive impact on the lives of local residents.
During this reporting period, Present Mind Wellness C.I.C. has engaged with several key stakeholders to inform the development and delivery of its services. Consultations have taken place with: - ESOL Students: Feedback was gathered from the six students who participated in the initial ESOL course. This feedback has been invaluable in understanding their needs and prefer-ences, and will be used to refine future ESOL offerings and ensure they effectively meet the language learning goals of community members. - Business Growth Advisor (WENTA): Regular consultations have been held with a business growth advisor from WENTA. These discussions have focused on developing a sustainable business model for the CIC, and refining the CIC's strategic direction to maximise its com-munity impact. - Potential Venue Providers: Preliminary discussions have been held with several venue owners in the Watford area regarding the potential for hosting wellbeing retreats. These con-sultations have explored the availability of suitable spaces, logistical considerations, and cost-effectiveness. This research is essential for the successful launch of the retreat programme. - W3RT (Watford and Three Rivers Trust): Discussions have been held with representatives from W3RT regarding potential funding opportunities and support programs available to community interest companies. These conversations have explored various funding avenues and will inform the CIC's fundraising strategy to ensure long-term financial sustainability and enable the expansion of services to the community. While community-wide consultations have not yet been undertaken, the CIC is committed to engaging with the community and other stakeholders to ensure its services are meeting their needs. In the coming year, Present Mind Wellness C.I.C. will prioritise developing effective mechanisms for gathering feedback and incorporating it into its planning and service delivery. The CIC is committed to ongoing dialogue with the community it serves and will actively seek feedback to inform its future development.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
8 February 2025
And signed on behalf of the board by:
Name: Siobhan Fanning
Status: Director