NIAMOS C.I.C.

Company limited by guarantee

Company Registration Number:
11232278 (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

NIAMOS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

NIAMOS C.I.C.

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

Directors

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

Ronnie Ricardo Walfall
Dave Whiting
Maria Corrigan


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
28 March 2025

And signed on behalf of the board by:
Name: Maria Corrigan
Status: Director

NIAMOS C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 99,399 96,655
Cost of sales: ( 47,656 ) ( 45,114 )
Gross profit(or loss): 51,743 51,541
Distribution costs: 0 0
Administrative expenses: ( 94,668 ) ( 76,296 )
Other operating income: 5,000 6,500
Operating profit(or loss): (37,925) (18,255)
Interest receivable and similar income: 0 0
Interest payable and similar charges: ( 475 ) ( 597 )
Profit(or loss) before tax: (38,400) (18,852)
Tax: 0 0
Profit(or loss) for the financial year: (38,400) (18,852)

NIAMOS C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 8,333 10,961
Investments:   0 0
Total fixed assets: 8,333 10,961
Current assets
Stocks:   0 0
Debtors: 4 4,815 2,645
Cash at bank and in hand: 59 2,076
Investments:   0 0
Total current assets: 4,874 4,721
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 149,222 ) ( 113,219 )
Net current assets (liabilities): (144,348) (108,498)
Total assets less current liabilities: (136,015) ( 97,537)
Creditors: amounts falling due after more than one year: 6 ( 13,011 ) ( 13,089 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (149,026) (110,626)
Members' funds
Profit and loss account: (149,026) ( 110,626)
Total members' funds: ( 149,026) (110,626)

The notes form part of these financial statements

NIAMOS C.I.C.

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

Name: Maria Corrigan
Status: Director

The notes form part of these financial statements

NIAMOS C.I.C.

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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

    Other accounting policies

    Going Concern: The accounts have been prepared on a going concern basis, as the directors intend to continue to trade for at least 12 months from the end of the reporting date. However, the directors disclose that there is a material uncertainty related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.

NIAMOS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 2

NIAMOS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 26,144 26,144
Additions 150 150
Disposals
Revaluations
Transfers
At 31 March 2024 26,294 26,294
Depreciation
At 1 April 2023 15,183 15,183
Charge for year 2,778 2,778
On disposals
Other adjustments
At 31 March 2024 17,961 17,961
Net book value
At 31 March 2024 8,333 8,333
At 31 March 2023 10,961 10,961

NIAMOS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 2,236 0
Other debtors 2,579 2,645
Total 4,815 2,645

NIAMOS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 6,285 6,000
Trade creditors 87,171 52,453
Accruals and deferred income 41,760 41,760
Other creditors 14,006 13,006
Total 149,222 113,219

NIAMOS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

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

2024 2023
£ £
Bank loans and overdrafts 13,011 13,089
Total 13,011 13,089

COMMUNITY INTEREST ANNUAL REPORT

NIAMOS C.I.C.

Company Number: 11232278 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

We regularly consult with Stakeholders on future plans, fundraising activities and ongoing operations. Companies Activities to benefit the community are focussed and are to provide affordable space for Artistic pursuits , Community Cultural activities, well being activities and socially aware activities. We facilitate Cultural Art and Community activities from economically challenged people from Diverse backgrounds. We have provided regular affordable space for a children's Dance and Drama academy, BBoy Dance class focused on young and older members training toward Olympic standard. Yoga and Martial Arts Women's Choir with 140 members, weekly Zumba Dance class, Capoeira and a weekly social for the community with a live music jam session. We have recently opened a Cafe 3 days a week so far. Every year Carnival Troupe's practise in our space, costume making and open workshops. We have facilitated many fundraisers for a variety of causes and have supported campaigns from worthy causes .

Consultation with stakeholders

There have been regular meetings between the two directors Ronnie Ricardo Walfall and Maria Corrigan to address to state of the business.

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
28 March 2025

And signed on behalf of the board by:
Name: Maria Corrigan
Status: Director