SOLATOYE CIC

Company limited by guarantee

Company Registration Number:
13272298 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SOLATOYE CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

SOLATOYE CIC

Directors' report period ended 31 March 2024

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

Principal activities of the company

DIRECTORS' REPORT Principal Activities of the Company SOLATOYE CIC is a Community Interest Company dedicated to providing safe, secure, and affordable housing for vulnerable adults, including those living with mental health conditions, learning disabilities, physical disabilities, and those at risk of homelessness. Our mission is to create a supportive living environment that empowers individuals to lead independent and fulfilling lives while ensuring their housing needs are met with dignity and respect. During the financial year, the company has actively pursued its objectives by: Providing Affordable Housing Offering stable, high-quality accommodation to individuals facing housing insecurity. Ensuring properties are adapted to meet the specific needs of residents, including accessibility features for those with physical disabilities. Supporting Mental Health and Well-being Working closely with support services and healthcare providers to promote mental well-being among residents. Providing a structured, supportive environment to help individuals manage their conditions and build independent living skills. Preventing Homelessness Assisting individuals at risk of eviction or displacement by providing secure housing options. Partnering with local authorities, charities, and social services to identify and support those in need. Promoting Social Inclusion and Independence Encouraging community engagement and integration through tailored support programs. Assisting residents in accessing education, training, and employment opportunities to enhance their self-sufficiency. Collaborating with Stakeholders Building partnerships with local councils, healthcare providers, and nonprofit organizations to maximize the impact of our services. Securing funding and resources to expand our housing provision and support services. Through these activities, SOLATOYE CIC has made a meaningful impact on the lives of vulnerable individuals, helping them transition from unstable housing situations to secure, supportive, and sustainable living arrangements. The company remains committed to its mission of addressing housing inequality and improving the quality of life for those in need. Dr Abidemi Sokunbi



Directors

The director shown below has held office during the whole of the period from
1 April 2023 to 31 March 2024

Dr Abidemi S


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
30 May 2024

And signed on behalf of the board by:
Name: Dr Abidemi S
Status: Director

SOLATOYE CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 0 0
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 0 0
Tax: 0 0
Profit(or loss) for the financial year: 0 0

SOLATOYE CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 0 0
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 0 0
Total assets less current liabilities: 0 0
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
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

SOLATOYE CIC

Balance sheet statements

For the year ending 31 March 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 30 May 2024
and signed on behalf of the board by:

Name: Dr Abidemi S
Status: Director

The notes form part of these financial statements

SOLATOYE CIC

Notes to the Financial Statements

for the Period Ended 31 March 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

SOLATOYE CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

COMMUNITY INTEREST ANNUAL REPORT

SOLATOYE CIC

Company Number: 13272298 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The activities of SOLATOYE CIC in the financial year have significantly benefited the community by providing affordable housing and essential support services for vulnerable adults, including those living with mental health conditions, learning disabilities, physical disabilities, and those at risk of homelessness. The key impacts include: Increased Access to Safe and Affordable Housing SOLATOYE CIC has provided stable and secure accommodation, reducing homelessness and housing insecurity among vulnerable individuals. This has helped improve their overall well-being, ensuring they have a safe place to live. Enhanced Mental and Physical Well-being By offering supported housing, SOLATOYE CIC has created a stable environment that promotes better mental and physical health. Residents receive the necessary support to manage their conditions, reducing stress and the likelihood of crisis situations. Improved Social Inclusion and Independence Through tailored support programs, SOLATOYE CIC has empowered residents to develop essential life skills, increasing their ability to live independently. This includes budgeting, cooking, and accessing employment or education opportunities. Reduced Pressure on Public Services By preventing homelessness and providing appropriate care, SOLATOYE CIC has helped alleviate the burden on social services, healthcare facilities, and emergency housing services. This has led to cost savings for local authorities and improved resource allocation. Community Engagement and Support Networks The organization has fostered a sense of community among residents, reducing isolation and promoting peer support. This has helped individuals build confidence, strengthen relationships, and reintegrate into society more effectively. Personalized Support for Diverse Needs SOLATOYE CIC has offered tailored assistance, ensuring that individuals with different disabilities and mental health challenges receive appropriate care. This person-centered approach has enhanced their quality of life and long-term stability. Overall, SOLATOYE CIC’s activities have played a crucial role in improving the lives of vulnerable adults by providing secure housing, essential support services, and pathways to greater independence, ultimately fostering a stronger and more inclusive community.

Consultation with stakeholders

No consultation with stakeholders

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
30 May 2024

And signed on behalf of the board by:
Name: Dr Abidemi Sokunbi
Status: Director