ARC COMMUNITY SPACE CIC

Company limited by guarantee

Company Registration Number:
10710494 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2024

Period of accounts

Start date: 1 April 2023

End date: 30 March 2024

ARC COMMUNITY SPACE CIC

Contents of the Financial Statements

for the Period Ended 30 March 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ARC COMMUNITY SPACE CIC

Balance sheet

As at 30 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 36,295 29,186
Total fixed assets: 36,295 29,186
Current assets
Stocks: 4 475 300
Debtors: 5 83,197 6,929
Cash at bank and in hand: 30,708 31,154
Total current assets: 114,380 38,383
Creditors: amounts falling due within one year: 6 ( 80,725 ) ( 39,494 )
Net current assets (liabilities): 33,655 (1,111)
Total assets less current liabilities: 69,950 28,075
Creditors: amounts falling due after more than one year: 7 ( 22,815 ) ( 26,516 )
Provision for liabilities: ( 4,127 )
Total net assets (liabilities): 43,008 1,559
Members' funds
Profit and loss account: 43,008 1,559
Total members' funds: 43,008 1,559

The notes form part of these financial statements

ARC COMMUNITY SPACE CIC

Balance sheet statements

For the year ending 30 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 27 March 2025
and signed on behalf of the board by:

Name: Susan Smith
Status: Director

The notes form part of these financial statements

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 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

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 9

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 6,204 30,749 36,953
Additions 11,619 11,619
Disposals
Revaluations
Transfers
At 30 March 2024 6,204 42,368 48,572
Depreciation
At 1 April 2023 2,803 4,964 7,767
Charge for year 1,435 3,075 4,510
On disposals
Other adjustments
At 30 March 2024 4,238 8,039 12,277
Net book value
At 30 March 2024 1,966 34,329 36,295
At 31 March 2023 3,401 25,785 29,186

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

4. Stocks

2024 2023
£ £
Stocks 475 300
Total 475 300

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 11,727 3,854
Prepayments and accrued income 474
Other debtors 71,470 2,601
Total 83,197 6,929

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 3,710 3,611
Taxation and social security 64,770 33,483
Accruals and deferred income 10,675 2,400
Other creditors 1,570
Total 80,725 39,494

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

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

2024 2023
£ £
Bank loans and overdrafts 22,815 26,516
Total 22,815 26,516

ARC COMMUNITY SPACE CIC

Notes to the Financial Statements

for the Period Ended 30 March 2024

8. Loans to directors

Name of director receiving advance or credit: Susan Smith
Description of the transaction:
Advance
£
Balance at 31 March 2023
Advances or credits made: 16,711
Advances or credits repaid:
Balance at 30 March 2024 16,711

Name of director receiving advance or credit: Damien Brown
Description of the transaction:
Advance
£
Balance at 31 March 2023
Advances or credits made: 33,934
Advances or credits repaid:
Balance at 30 March 2024 33,934

COMMUNITY INTEREST ANNUAL REPORT

ARC COMMUNITY SPACE CIC

Company Number: 10710494 (England and Wales)

Year Ending: 30 March 2024

Company activities and impact

We sustained delivery across our projects, offering, food, connection, wellbeing and a warm and welcoming environment for people to gather in. Our food bank feeds 150 families every week and we continue to work with around 50 weekly volunteers who help pack, sort and deliver the food boxes. Overall the project continues to engage a further 50 ongoing local volunteers on a more casual basis. We run Super Market Sweeps which give us the opportunity to welcome corporate volunteers which gives these groups a great opportunity to give back locally as well as offering the project income. Our storage capacity increased so we can better store the goods these acivities bring in and we have engaged support groups like Bloody Good Period so we can offer additional items of need to our clients. Age UK continue to visit every week as a signposting service offering advice of benefits, debt, health, fuel poverty or any other service our clients need ssistance with. Our gardening sessions are operating in 5 spaces in partnership with Islington Parks Service providing local people with 3 oportunities to participate in group gardening sessions every week. We have also run a series of gardening related workshops and encouraged local people to get involved with a number of activities such as butterfly counting and building a cold frame. These sessions also teach people how to grow food in an urban environment and how to maintain the environment to keep it green and thriving for both residents and wildlife alike. We also engage corporate volunteers through gardening away days. Our cafe is continuing to operate as a warm space and we have expanded our menu to offer hot food and sandwiches as well as an extended our range of cakes and pastries. We also have a full team of FOH staff who are barista trained and offer employment to one young person with complex needs and unpaid work experience to another young person for 2 hours a week who is unable to work in a paid capacity due to her very complex needs. She attends weekly with her carer. Our community wellbeing programme offers free and low-cost access to movement and wellbeing activities as well as a series of free classes and events. We offer a low-cost membership, which is self-selected for those on low incomes as well as low-cost access to key workers. We have 2 classes which can be attended free of charge for those in need and we have 9 food bank client accessing the programme of classes, offering tools and techniques to manage strss and build resilience in difficult circumstances. Our traditional community offering continues with coffee mornings and experiences like flower arranging or candle making. We also arranged a day trip for elderly people to to the Lavender Fields and a Christmas meal in a local venue. The venue is still available to hire for various activities with preferential rates for the local community and charity groups.

Consultation with stakeholders

The stakeholders are members of the local community. We consult local people through our coffee shop and by word of mouth. We also have a suggestions box in our cafe. Our clients are also invited by our newsletters to regularly feedback to us or make suggestions about what they hope to see more of and what they ar edosapoted with. Our Food Bank also has a dedicated team of volunteers who are local people who help shape the way the food bank operates and how we wlork with our clients. We have some close relationships with local individuals who help us shape and deliver our projects. For example, our gardens project has a key volunteer who is disabled. He has helped us design the gardens and what is grown and helped us work towards making the spaces accessible for wheelchairs. He has also led workshops, contributed plants for our plant stall and helped The ARC create a seed bank, all of which has given him a great sense of purpose.

Directors' remuneration

Directors received remuneration in the form of paye salary of a total amount of £67,499.99. Two of the directors also drew down funds of £50,645.26 which was treated as a related party loan in the accounts.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
27 March 2025

And signed on behalf of the board by:
Name: Susan Smith
Status: Director