HQ CAN COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
10251140 (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

HQ CAN COMMUNITY INTEREST COMPANY

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

HQ CAN COMMUNITY INTEREST COMPANY

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

The principal activity of the company during the year under review was information, guidance, support and training to individuals, educational establishments and any other.



Directors

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

Z.J. Bernstein
Y.M.R.El Ashrafi
S.K. Goldstein
H.G. Milloshas
L.R.A. Petterson


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
4 March 2025

And signed on behalf of the board by:
Name: Y.M.R.El Ashrafi
Status: Director

HQ CAN COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 145,069 149,931
Cost of sales: ( 106,723 ) ( 77,049 )
Gross profit(or loss): 38,346 72,882
Distribution costs: ( 18 ) ( 1,496 )
Administrative expenses: ( 37,826 ) ( 71,129 )
Operating profit(or loss): 502 257
Profit(or loss) before tax: 502 257
Tax: 62 1,297
Profit(or loss) for the financial year: 564 1,554

HQ CAN COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 39,782 47,359
Total fixed assets: 39,782 47,359
Current assets
Debtors: 4 22,502 17,330
Cash at bank and in hand: 22,597 15,395
Total current assets: 45,099 32,725
Creditors: amounts falling due within one year: 5 ( 20,431 ) ( 12,159 )
Net current assets (liabilities): 24,668 20,566
Total assets less current liabilities: 64,450 67,925
Creditors: amounts falling due after more than one year: 6 ( 30,030 ) ( 32,630 )
Provision for liabilities: ( 5,522 ) ( 6,961 )
Total net assets (liabilities): 28,898 28,334
Members' funds
Profit and loss account: 28,898 28,334
Total members' funds: 28,898 28,334

The notes form part of these financial statements

HQ CAN COMMUNITY INTEREST COMPANY

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 4 March 2025
and signed on behalf of the board by:

Name: Y.M.R.El Ashrafi
Status: Director

The notes form part of these financial statements

HQ CAN COMMUNITY INTEREST COMPANY

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 is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the Company; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Leasehold land and buildings 10% Reducing balance Plant and machinery 15% reducing balance Furniture, fittings and equipment 20% reducing balance

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

HQ CAN COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 2

HQ CAN COMMUNITY INTEREST COMPANY

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 10,719 52,642 33,320 96,681
Additions
Disposals
Revaluations
Transfers
At 30 June 2024 10,719 52,642 33,320 96,681
Depreciation
At 1 July 2023 4,423 27,334 17,565 49,322
Charge for year 630 3,796 3,151 7,577
On disposals
Other adjustments
At 30 June 2024 5,053 31,130 20,716 56,899
Net book value
At 30 June 2024 5,666 21,512 12,604 39,782
At 30 June 2023 6,296 25,308 15,755 47,359

HQ CAN COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 8,324 8,152
Other debtors 14,178 9,178
Total 22,502 17,330

HQ CAN COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Taxation and social security 1,378 237
Accruals and deferred income 16,053 8,922
Total 20,431 12,159

HQ CAN COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

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

2024 2023
£ £
Other creditors 30,030 32,630
Total 30,030 32,630

COMMUNITY INTEREST ANNUAL REPORT

HQ CAN COMMUNITY INTEREST COMPANY

Company Number: 10251140 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

The provision of musical educational workshops and events aimed at unemployed adults in Leicestershire. There is a benefit to all our service users in building their confidence, developing, and improving their life and employability skills.

Consultation with stakeholders

Key stakeholders are funding bodies such as the Arts Council, The National Lottery Community Fund, Youth Music, DWP, Leicester and Rutland Community Association, other third sector organisations, artists and project participants. Consultation is based on an ongoing evaluation using milestone surveys, dialogue, face to face meetings and via social media.

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
4 March 2025

And signed on behalf of the board by:
Name: Y.M.R. El Ashrafi
Status: Director