for the Period Ended 31 May 2024
| Directors report | |
| 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 directors shown below have held office during the period of
9 July 2023
to
31 May 2024
The director shown below has held office during the whole of the period from
18 May 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
As at
| Notes | 2024 | ||
|---|---|---|---|
|
|
£ |
||
| Current assets | |||
| Debtors: | 3 |
|
|
| Cash at bank and in hand: |
|
||
| Total current assets: |
|
||
| Net current assets (liabilities): |
|
||
| Total assets less current liabilities: |
|
||
| Provision for liabilities: |
(
|
||
| Accruals and deferred income: |
(
|
||
| Total net assets (liabilities): |
|
||
| Members' funds | |||
| Profit and loss account: |
|
||
| Total members' funds: |
|
The notes form part of these financial statements
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
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
for the Period Ended 31 May 2024
| 2024 | ||
|---|---|---|
| Average number of employees during the period |
|
for the Period Ended 31 May 2024
| 2024 | ||
|---|---|---|
| £ | ||
| Other debtors |
|
|
| Total |
|
for the Period Ended 31 May 2024
| Name of director receiving advance or credit: |
|
| Description of the transaction: | |
|
|
|
| £ | |
|---|---|
| Balance at | |
| Advances or credits made: |
|
| Advances or credits repaid: | |
| Balance at 31 May 2024 |
|
We formed the CIC in May 2023 and started trading as Body Mind Collective in October 2023. The company delivers inclusive yoga sessions in Sandwell with a focus on financial accessibility. In the first five months before trading, we did some market research through a survey to find out our community’s needs and desires. We worked with local organisations SCVO and SWEDA to gain business support through their Social Enterprise MOT programme and in December 2023 we successfully applied to the Social Enterprise Boost Fund for a grant of £1801 to develop branding materials and build a website suitable for our community’s needs. Through the SEBF MOT programme, we made connections with other community organisations Breakthru CIC who became our asset lock, and Citizen Connect CIC who we appointed to develop our website. In the period of trading from October 2023 to May 2024, we delivered a total of 282 sessions in the community these included: - 159 financially accessible community sessions - 57 low cost/free sessions funded by external sources - 66 corporate and charity sessions to supplement our community sessions In February 2024 we were awarded £2,028 from Hateley Cross Big Local / LTO for two 12-week beginner’s yoga courses in the Hateley Heath and Stone Cross areas of West Bromwich. In May, the project delivered to 59 new attendees, 27 attending the Adaptive Yoga Sessions at 4Community Trust Hub, and 32 attending Seated Yoga at Stone Cross Library. After attending the sessions, the attendees said that their physical strength and mobility had improved, stress levels had decreased, they were sleeping better, and that they had made new friends by attending. Both 4Community Trust and Stone Cross Library stated that through attending the yoga sessions, attendees discovered and accessed other vital services in their venues.
The company’s stakeholders are residents in Sandwell, plus local businesses, charities and the local authority. Two of the directors were born in the area, and one continues to reside in the community. Our directors have extensive knowledge of the area and have developed the business model over a period of years before establishing the CIC. In May 2023, we sent out a short survey to our stakeholders to help us build a profile of our customers and help us to identify how we can serve them more effectively. Our research showed us that our current customer base is predominantly over 40 years, they will not travel more than 1 mile to a yoga session, and they have a lower-than-average income. Alongside our board of directors, we also setup a steering committee made up of attendees from each of our yoga sessions. In this period, we met in person and communicated frequently via email and Whatsapp. At our first in-person meeting in January 2024, feedback was provided on the branding and website materials. One stakeholder suggested that instead of using stock images on the website, to use Photography HND students. This was actioned by contacting the local college, and we appointed local photography student Nikki Hobbs to take photos for our marketing materials in a freelance capacity. We set up free sessions for our students in the knowledge that Nikki would be in attendance, and we gave Nikki permission to use this project in her final portfolio of work. We also attended Sandwell Council Public Health meetings to engage and build relationships with other businesses and stakeholders in the area.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
16 February 2025
And signed on behalf of the board by:
Name: Bryony Morris
Status: Director