PROSPER LIFE INITIATIVES CIC

Company limited by guarantee

Company Registration Number:
11441116 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

PROSPER LIFE INITIATIVES CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

PROSPER LIFE INITIATIVES CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

Principal activity of the company during the financial year was of providing benefit to women, their families and friends through community engagements, workshops, provision of guidance and information, signposting, coaching and offering one to one sessions.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Barbara Harriet NAMBUYA
Rose Kirunda


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
14 February 2025

And signed on behalf of the board by:
Name: Barbara Harriet NAMBUYA
Status: Director

PROSPER LIFE INITIATIVES CIC

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 42,391 29,509
Cost of sales: ( 20,419 ) ( 12,616 )
Gross profit(or loss): 21,972 16,893
Distribution costs: ( 823 ) ( 395 )
Administrative expenses: ( 17,737 ) ( 8,339 )
Operating profit(or loss): 3,412 8,159
Profit(or loss) before tax: 3,412 8,159
Profit(or loss) for the financial year: 3,412 8,159

PROSPER LIFE INITIATIVES CIC

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,397 1,098
Total fixed assets: 2,397 1,098
Current assets
Cash at bank and in hand: 21,836 19,723
Total current assets: 21,836 19,723
Net current assets (liabilities): 21,836 19,723
Total assets less current liabilities: 24,233 20,821
Total net assets (liabilities): 24,233 20,821
Members' funds
Profit and loss account: 24,233 20,821
Total members' funds: 24,233 20,821

The notes form part of these financial statements

PROSPER LIFE INITIATIVES CIC

Balance sheet statements

For the year ending 30 June 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 14 February 2025
and signed on behalf of the board by:

Name: Barbara Harriet NAMBUYA
Status: Director

The notes form part of these financial statements

PROSPER LIFE INITIATIVES CIC

Notes to the Financial Statements

for the Period Ended 30 June 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 represents income via funding of services, excluding value added tax.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives

PROSPER LIFE INITIATIVES CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 1

PROSPER LIFE INITIATIVES CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 1,098 1,098
Additions 1,299 1,299
Disposals
Revaluations
Transfers
At 30 June 2024 2,397 2,397
Depreciation
At 1 July 2023 0 0
Charge for year
On disposals
Other adjustments
At 30 June 2024 0 0
Net book value
At 30 June 2024 2,397 2,397
At 30 June 2023 1,098 1,098

COMMUNITY INTEREST ANNUAL REPORT

PROSPER LIFE INITIATIVES CIC

Company Number: 11441116 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. The company’s activities provide benefit to women and their families through community engagements, provision of guidance and information, signposting and offering one to one support. We provide an accessible welcoming platform where women come together, learn, share, inspire and build relationships to make positive changes to improve their well-being and those around them. During the reporting financial year, we provided a mix of different activities including workshops, training, awareness programs and one to one mentoring. Target groups included, without limitation, ethnically minoritised communities who experience different barriers from day to day and are generally at higher risk of poverty and social isolation. Most are migrant women who are often isolated with little access to support networks. The company also works in collaboration with organisations within the Mama Health and Poverty Partnership and other external networks. The company has run as a CIC since June 2018. The Company has continued to be at the frontline, working alongside similar organisations to reach and benefit the community members impacted by the cost-of-living crisis. During the financial year 2023-2024 we run three separate projects which benefited the communities we work with. We also run money matters workshops for external partner organisations attended by over 70 participants. Cost of Living Money Matters Project The Cost-of-Living Money Matters Project was enabled by the GM Systems Changers Solidari-ty Fund. The aim of the project was to create a safe space and supportive environment for money conversations where women come together to share experience, learn new skills, gain valuable information and practical tips to manage through the cost-of-living crisis. 30 women participated in this project regularly meeting to talk about different money matters topics. Through these meetings they were able to reflect and discuss the why, what triggers them when they talk about money and how they can overcome their fears about money. Participants reported feeling more confident talking about money and being able to apply different ap-proaches to reduce negative experiences caused especially by the cost-of-living crisis. One of our long-term goals is to continue growing these safe spaces for our communities and promoting healthy norms for discussing money matters on a continuous basis rather than re-sponding to crisis. Enterprise Cost of Living Fund Project This project was funded by Social Investment Business to work with 60 women to support them to improve their financial resilience to navigate the cost-of-living crisis. We worked with 4 community groups providing workshops on Building financial resilience, Budgeting, saving, maximising income and managing debt which also included setting personal goals for each strand of training. We also worked with 15 women aged 18+ through 1:1 coaching & support to start or grow their own enterprise or side hustle. These were supported by a specialist business coach to grow their idea. Our role was to listen to the unique needs of the participants and understand their individual challenges, identify their goals and agree a plan of action. These coaching sessions proved to be very popular and beneficial and by the end of the financial year, 6 of the participants had taken steps to start on their business idea. Some of these included Women’s Coaching & holistic wellbeing, charitable work, beauty and well-being, creative work, snack/cake business, education support etc. Feedback was excellent and most were keen to receive further support from Prosper in the future. A peer-to-peer support group was established for ongoing support and learning. Parenting Project This is one of our key projects since 2020. During the reporting year, we organised successfully 6 parenting group sessions attended by 15 to 20 parents/carers. We also had 20 one to one sessions with parents that needed more personal centred support. The sessions explore different topics including support in education, understanding the curriculum which is always a challenge for migrant parents, managing behaviour, mental health, parent self-care etc. Peer to peer support for this group continues to be very active. We were able to expand our volunteer expert team who continue to provide support on an ongoing basis to parents/carers.

Consultation with stakeholders

The company’s stakeholders are women from ethnically minoritised communities & their families living in Greater Manchester, as well as partners, funders, business and community organisations working with these communities. The Company is also a member of the Greater Manchester “Mama Health and Poverty Partnership.” We continue to actively engage with partner organisations to discuss issues relating to our collaborative work. We are continuing to build links with other partners and respond to feedback from these stakeholders. During the year, Company directors held meetings to plan and review organisational performance. The company has a team of volunteers who were consulted and actively participated in the planning and designing of projects. As standard procedure, we continuously talk and consult with the communities we work with and respond to feedback about ongoing projects. We use the information provided to reflect, plan and design future projects. We evaluate and collect feedback on the services we deliver through focus groups, question-naires, polls and testimonials/quotes & case studies. We also asked participants whether there were any unexpected benefits of impacts from participating in the projects and asked for any other applicable areas we could provide support in the future.

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
14 February 2025

And signed on behalf of the board by:
Name: Barbara Nambuya
Status: Director