DOVELY HOMES C.I.C.

Company limited by guarantee

Company Registration Number:
15223975 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 20 October 2023

End date: 31 October 2024

DOVELY HOMES C.I.C.

Contents of the Financial Statements

for the Period Ended 31 October 2024

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

DOVELY HOMES C.I.C.

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Principal activities of the company

Provide sustainable, safe, and supportive housing solutions for individuals transitioning out of the foster care system. Offer transitional housing and mentorship to unaccompanied asylum-seeking minors. Seek educational and vocational training opportunities for residents, particularly young adults seeking a fresh start. Facilitate the successful transition of these marginalised communities into adulthood and financial independence



Directors

The directors shown below have held office during the whole of the period from
20 October 2023 to 31 October 2024

Ugochi Okonor
Nnaemeka Ukah
John Ukoh


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
15 March 2025

And signed on behalf of the board by:
Name: Ugochi Okonor
Status: Director

DOVELY HOMES C.I.C.

Profit And Loss Account

for the Period Ended 31 October 2024

2024


£
Cost of sales: ( 99,479 )
Gross profit(or loss): (99,479)
Administrative expenses: ( 45,782 )
Other operating income: 207,221
Operating profit(or loss): 61,960
Interest receivable and similar income: 189
Profit(or loss) before tax: 62,149
Tax: ( 12,596 )
Profit(or loss) for the financial year: 49,553

DOVELY HOMES C.I.C.

Balance sheet

As at 31 October 2024

Notes 2024


£
Current assets
Cash at bank and in hand: 63,452
Total current assets: 63,452
Creditors: amounts falling due within one year: 3 ( 13,899 )
Net current assets (liabilities): 49,553
Total assets less current liabilities: 49,553
Total net assets (liabilities): 49,553
Members' funds
Profit and loss account: 49,553
Total members' funds: 49,553

The notes form part of these financial statements

DOVELY HOMES C.I.C.

Balance sheet statements

For the year ending 31 October 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 15 March 2025
and signed on behalf of the board by:

Name: Ugochi Okonor
Status: Director

The notes form part of these financial statements

DOVELY HOMES C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 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

DOVELY HOMES C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024
    Average number of employees during the period 1

DOVELY HOMES C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Creditors: amounts falling due within one year note

2024
£
Taxation and social security 12,596
Accruals and deferred income 700
Other creditors 603
Total 13,899

COMMUNITY INTEREST ANNUAL REPORT

DOVELY HOMES C.I.C.

Company Number: 15223975 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

At Dovely Homes CIC, we provide safe, affordable and quality accommodation for young people getting back on their feet and for those experiencing homelessness. Over the past year, we conducted a thorough review of our internal processes, introducing updated record-keeping systems and formalising staff training on relevant legislation and local authority standards. By centralising administrative tasks and automating routine procedures, we reduced paperwork bottlenecks and improved turnaround times for new applicants. These measures not only enhanced efficiency but also ensured we remain fully compliant with the latest regulatory requirements, allowing us to maintain high service standards and provide safe, reliable accommodation for those most in need. We have also implemented several strategic initiatives that have streamlined our operations and strengthened our regulatory compliance. Our commitment to meeting the needs of vulnerable groups has allowed us to build trust with local authorities, charities, and community partners. Moving forward, we plan to broaden our impact in the following ways: Enhanced Support Services: Develop comprehensive programmes including life-skills training, employment workshops, and mental health support to help residents gain confidence and self-sufficiency. Community Integration: Host regular forums and drop-in sessions to foster stronger connections between our residents and local organisations, encouraging collaboration, networking, and community pride. Collaboration with Local Stakeholders: Work closely with councils, social services, and charities to streamline referrals and ensure a seamless process for those in need of immediate housing solutions. Ongoing Regulatory Excellence: Continue to refine our compliance framework, maintaining transparent processes that safeguard residents, staff, and partners alike.

Consultation with stakeholders

Dovely Homes CIC recognises local councils, charities, local colleges, and the young people we support as our primary stakeholders. We also liaise with mental health providers, job training centres, and other community organisations that collaborate in our mission to assist individuals in need. Consultation Methods We engage these stakeholders through regular feedback sessions, in-person meetings, and online surveys. This helps us understand emerging needs, refine our housing services, and identify opportunities for collaboration. Actions Taken in Response to Feedback Job Skills Workshops: We introduced career-readiness sessions in partnership with a local training provider, offering practical support for those seeking employment. Streamlined Application Process: We simplified our intake procedures to reduce waiting times and make our services more accessible. Enhanced Mental Health Support: We strengthened ties with mental health charities to ensure residents can quickly access professional counselling and related services. Education Pathways: We assist our residents in accessing adult education and other suitable educational programmes, helping them progress in both personal and professional development. Outcome By incorporating stakeholder feedback, Dovely Homes CIC has improved service delivery, increased resident satisfaction, and fostered a more supportive environment for vulnerable individuals on their journey to independence.

Directors' remuneration

Full details of directors’ remuneration are included in the company accounts. There were no other transactions or arrangements relating to directors’ remuneration, or compensation for directors’ loss of office, which require disclosure. Directors' remuneration for the year came to £11,667

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Ugochi Okonor
Status: Director