TAILORED YARN CIC

Company limited by guarantee

Company Registration Number:
12586110 (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

TAILORED YARN CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

TAILORED YARN CIC

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 1,065 10,976
Cost of sales: ( 1,844 ) ( 2,831 )
Gross profit(or loss): (779) 8,145
Administrative expenses: ( 15,278 ) ( 18,395 )
Other operating income: 16,057 10,250
Operating profit(or loss): 0 0
Profit(or loss) before tax: 0 0
Profit(or loss) for the financial year: 0 0

TAILORED YARN CIC

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Current assets
Stocks: 3 6,564 6,564
Debtors: 4 0 420
Cash at bank and in hand: 11,270 29,071
Total current assets: 17,834 36,055
Net current assets (liabilities): 17,834 36,055
Total assets less current liabilities: 17,834 36,055
Creditors: amounts falling due after more than one year: 5 ( 17,834 ) ( 36,055 )
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

TAILORED YARN CIC

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 25 February 2025
and signed on behalf of the board by:

Name: Lucy Powers
Status: Director

The notes form part of these financial statements

TAILORED YARN CIC

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

    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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

TAILORED YARN CIC

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

TAILORED YARN CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Stocks

2024 2023
£ £
Stocks 6,564 6,564
Total 6,564 6,564

TAILORED YARN CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 420
Total 0 420

TAILORED YARN CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 17,834 36,055
Total 17,834 36,055

COMMUNITY INTEREST ANNUAL REPORT

TAILORED YARN CIC

Company Number: 12586110 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

The company has completed several local bereavement projects which include the weekly peer support cafe.

Consultation with stakeholders

Tailored Yarn Memories holds consultation with grieving families that they support.

Directors' remuneration

Gillian Seale is the CEO and in the year ending May 2024 and worked full-time on workshop delivery, story writing, marketing, human resources and securing grant funding. The amount of renumeration has been recorded in Quickbooks and can be provided on request.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
25 February 2025

And signed on behalf of the board by:
Name: Lucy Powers
Status: Director