for the Period Ended 31 May 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 May 2024
Directors
The director shown below has held office during the whole of the period from
1 June 2023
to
31 May 2024
The director shown below has held office during the period of
1 June 2023
to
7 February 2024
The director shown below has held office during the period of
7 February 2024
to
31 May 2024
The director shown below has held office during the period of
3 November 2023
to
31 May 2024
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 2024 | 2023 | |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 5 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 May 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Intangible fixed assets amortisation policy
Valuation information and policy
Other accounting policies
for the Period Ended 31 May 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 May 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 June 2023 |
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At 31 May 2024 |
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Depreciation | ||||||
At 1 June 2023 |
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Charge for year |
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On disposals | ||||||
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At 31 May 2024 |
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Net book value | ||||||
At 31 May 2024 |
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At 31 May 2023 |
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for the Period Ended 31 May 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Total |
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for the Period Ended 31 May 2024
2024 | 2023 | |
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£ | £ | |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Total |
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The Design Cabin Community C.I.C is a social enterprise dedicated to empowering individuals under the age of 30 in the fields of design, technology, business, and self-expression. Our efforts focus on building local wealth, developing individual skills, and creating local entrepreneurial opportunities. The financial year from June 2023 to May 2024 marked a period of substantial growth and increased community engagement for our company. We initiated several projects and programs aimed at promoting local commerce, supporting micro-businesses, and enhancing community well-being. Key Projects and Events Make Your Market We launched the "Make Your Market" initiative in both Rochford and Castle Point, creating vibrant market spaces that provided invaluable trading opportunities for local micro-businesses. The Castle Point initiative started with much fanfare in August 2023, followed by the Rochford market in September, rebranding the former Teenage Market. These events were instrumental in supporting numerous traders and performers, offering them a platform to showcase their products and talents. The continued development of Make Your Markets was funded by the UK Government, Rochford District Council, Brentwood Borough Council, and Essex County Council. Pop-Up Events Our pop-up events, particularly the one during the Rayleigh Lights Switch On in November, supported six micro-businesses. The December pop-up at Rochford Christmas Festival further solidified our commitment to the local economy. The company held a Christmas themed market called ‘The Elves Cabin’ which enabled 25 micro-businesses and three performers to interact with over 500 visitors. Newham Wellness In June 2023, we initiated self-defence classes, targeting diverse groups, including men, boys, women, and girls. These classes were well-received, with 43 participants benefiting from enhanced personal safety skills. Newham Wellness project delivered a community garden in Beckton Allotments, London Borough of Newham, supports 40 residents with fresh produce and provides a safe space for gardening and wellness conversations. In January 2024 the Newham Wellness project was concluded. Newham Wellness later became its own company Scope 3 Circular Economy LTD. Southend Pride Participation July saw our active participation in Southend Pride, where our innovative use of cargo bikes as parade floats highlighted our creativity and community spirit. Safe Sport International Conference We hosted the Safe Sport International Conference in September 2023. This significant conference held across 3 floors with 5 break out rooms that attracted over 200 delegates across 27 countries, showcasing our capacity to organize large-scale, impactful gatherings. Big Up Southend In January 2024, we began managing Big Up Southend independently, a monthly makers market at Victoria Shopping Centre. This ensured its continuity and aimed to boost shopping centre footfall and support local businesses. From June 23 to May 24, Big Up Southend offered 219 trading opportunities. Community Impact and Recognition Our various initiatives greatly benefited the local community by providing numerous trading opportunities, fostering small business growth, and enhancing community engagement. In March 2024, our efforts were recognised when we were nominated for the Community Impact Award at Rochford District Council's Business Awards. Additionally, our "Make Your Market", was awarded Start-Up Business of the Year 2024, successfully supporting 93 traders, 6 venues and 2,100 community members. Financial Support We secured £28,408 in funding from the UK Shared Prosperity Fund (UKSPF), administered by Rochford District Council, to deliver a series of seven events across the district. The company received £6,776 from Essex County Council for Make Your Market, Castle Point. Two rounds of funding from the UK Shared Prosperity Fund (UKSPF) through Rochford District Council were secured: £14,983.80 for Make Your Market projects and £28,408 for a series of seven events in 2024 and 2025. This funding was essential to expand our reach and impact. The company also continued to develop its own revenue streams by including services such as event management, equipment rental, and event revenue generation. Challenges and Partnerships We faced challenges, such as the unsuccessful bid for the Tate Institute and the end of the expression of interest process for Mill Hall. After the expression of interest process lasting over 12 months, the Company estimates that this equates to a loss of resources equating to £25,000. Despite these setbacks, we remained resilient and continued to seek new opportunities for growth and collaboration. Our partnerships with organisations like Culture Engine, Cinema Next, the British Film Institute, and National Theatre Live were vital in our efforts to promote cultural and community development. Next year, we aim to invest in culture, heritage, and community development, while opening an office in Rochford District and managing cultural, historical, and community buildings. In summary, the financial year 2023-2024 was marked by significant achievements and contributions to the community. Our projects not only supported local businesses but also fostered a sense of community through various events and initiatives. We are proud of our accomplishments and remain committed to continuing our positive impact in the years to come. Other Highlights - University of East London 125-Year Celebration (January 2024): - Our founder, James Edmunds, was recognized for his social entrepreneurship during the university's 125-year celebrations. - Speaking at Ambitious Young People in Essex (January 2024) - Our founder shared his experience. - Executive Director James Edmunds spoke on reflecting on personal and business journeys.
Stakeholders - Rochford District Council - Rochford Parish Council - Essex County Council - Victoria Shopping Centre - Southend City Council - Uttlesford District Council - University of East London - Newham Wellness - Safe Sport International - Culture Engine - British Film Institute - Cinema Next - National Theatre Consultation Process The company has a robust stakeholder consultation process to ensure that all parties involved are continuously engaged. The following methods were employed: - Regular meetings and workshops with key stakeholders to discuss ongoing projects and gather feedback. - Surveys and questionnaires distributed to stakeholders to collect their opinions and suggestions. - Public forums and open houses to engage with the broader community and understand their needs and expectations. - One-on-one consultations with stakeholders to address specific concerns and provide tailored solutions. Actions Taken in Response to Feedback Based on the feedback received from various stakeholders, the company has implemented several actions to address their concerns and improve its operations: - Expanded the Make Your Market platform across South Essex with funding support from Rochford District Council and Essex County Council, allowing more small businesses and performing talents to showcase their work. - Enhanced the operations of Big Up Southend, ensuring it runs smoothly on the last Saturday of every month, in collaboration with Southend City Council and the Victoria Shopping Centre. - Invested £25,000 in the Mill Hall project, working with industry experts like Culture Engine, BFI, National Theatre, and Cinema Next to create a comprehensive business plan and explore the site's potential as a National Theatre Live location. - Successfully delivered a Global Safeguarding in Sports conference for Safe Sport International, with over 250 delegates from 27 countries, reflecting the broad impact of the event. - Supported Newham Wellness by delivering fresh produce and providing a safe space for gardening and wellness conversations to 40 residents in Beckton Allotments.
The total amount paid or receivable by directors in respect of qualifying services was £11,972. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
10 January 2025
And signed on behalf of the board by:
Name: James Arthur Edmunds
Status: Director