THRIVING SPACES CIC

Company limited by guarantee

Company Registration Number:
12518586 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2025

Period of accounts

Start date: 1 April 2024

End date: 31 March 2025

THRIVING SPACES CIC

Contents of the Financial Statements

for the Period Ended 31 March 2025

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

THRIVING SPACES CIC

Profit And Loss Account

for the Period Ended 31 March 2025

2025 2024


£

£
Turnover: 5,661 5,428
Cost of sales: ( 4,736 ) ( 2,163 )
Gross profit(or loss): 925 3,265
Administrative expenses: ( 154,716 ) ( 163,082 )
Other operating income: 155,760 160,342
Operating profit(or loss): 1,969 525
Profit(or loss) before tax: 1,969 525
Profit(or loss) for the financial year: 1,969 525

THRIVING SPACES CIC

Balance sheet

As at 31 March 2025

Notes 2025 2024


£

£
Fixed assets
Tangible assets: 3 12,220 10,561
Total fixed assets: 12,220 10,561
Current assets
Debtors: 4 1,000
Cash at bank and in hand: 30,863 28,635
Total current assets: 31,863 28,635
Creditors: amounts falling due within one year: 5 ( 2,075 ) ( 3,157 )
Net current assets (liabilities): 29,788 25,478
Total assets less current liabilities: 42,008 36,039
Accruals and deferred income: ( 30,000 ) ( 26,000 )
Total net assets (liabilities): 12,008 10,039
Members' funds
Profit and loss account: 12,008 10,039
Total members' funds: 12,008 10,039

The notes form part of these financial statements

THRIVING SPACES CIC

Balance sheet statements

For the year ending 31 March 2025 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 8 April 2025
and signed on behalf of the board by:

Name: Sara Lawton
Status: Director

The notes form part of these financial statements

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 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

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 4 4

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2024 25,526 25,526
Additions 8,457 8,457
Disposals
Revaluations
Transfers
At 31 March 2025 33,983 33,983
Depreciation
At 1 April 2024 14,965 14,965
Charge for year 6,798 6,798
On disposals
Other adjustments
At 31 March 2025 21,763 21,763
Net book value
At 31 March 2025 12,220 12,220
At 31 March 2024 10,561 10,561

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Debtors

2025 2024
£ £
Other debtors 1,000
Total 1,000

THRIVING SPACES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

5. Creditors: amounts falling due within one year note

2025 2024
£ £
Other creditors 2,075 3,157
Total 2,075 3,157

COMMUNITY INTEREST ANNUAL REPORT

THRIVING SPACES CIC

Company Number: 12518586 (England and Wales)

Year Ending: 31 March 2025

Company activities and impact

Thriving Spaces (Thrive) was launched in October 2020 to support young people who are furthest away from the job market, particularly care-experienced young people and young offenders. Over the past 12 months, Thrive has had more than 3,500 visits from support/social workers, young people and partners. 48 young people have received intensive 1:2:1 wrap-around support with 159 young people moving into work following their journey with Thrive. Thrive has delivered 273 interactive support sessions in partnership with support partners and employers. Support sessions have focused on areas including employability, wellbeing, housing and education. Our work at Thrive is helping to build a truly inclusive economy that tackles deprivation by reaching young people furthest away from the job market. Our work is unique as we also offer a safe space for social/support workers to meet with the young people they care for to build relationships. We believe that all young people have the right to live happy, safe and fulfilling lives. We are helping young people find a purpose and surrounding them with a network of people who have their best interests at heart. Our work also reduces the risks of grooming and exploitation related to this cohort of often vulnerable young people.

Consultation with stakeholders

The organisations stakeholders include: -Social/support workers -Care experienced young people -Young Offenders -Young Asylum Seekers -Local Authorities -Care support providers -Supported accommodation providers -Training providers Thrive hosts regular meetings with the stakeholders above in the form of focus groups and one to one feedback. Actions we have taken based on feedback includes: -The types of employer/industry professionals who deliver sessions at Thrive -Changing our food and drink offer based on young people's preference -Regular well-being support at Thrive including 1:2:1 counselling -Introducing social support such as yoga and board game sessions for isolation

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
8 April 2025

And signed on behalf of the board by:
Name: Sara Lawton
Status: Director