BODY MIND COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
14878749 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 18 May 2023

End date: 31 May 2024

BODY MIND COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BODY MIND COLLECTIVE CIC

Directors' report period ended 31 May 2024

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

Fiona Morris
Holly Vitow


The director shown below has held office during the whole of the period from
18 May 2023 to 31 May 2024

Bryony Morris


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
18 February 2025

And signed on behalf of the board by:
Name: Bryony Morris
Status: Director

BODY MIND COLLECTIVE CIC

Balance sheet

As at 31 May 2024

Notes 2024


£
Current assets
Debtors: 3 507
Cash at bank and in hand: 2,050
Total current assets: 2,557
Net current assets (liabilities): 2,557
Total assets less current liabilities: 2,557
Provision for liabilities: ( 301 )
Accruals and deferred income: ( 975 )
Total net assets (liabilities): 1,281
Members' funds
Profit and loss account: 1,281
Total members' funds: 1,281

The notes form part of these financial statements

BODY MIND COLLECTIVE CIC

Balance sheet statements

For the year ending 31 May 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.

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 18 February 2025
and signed on behalf of the board by:

Name: Bryony Morris
Status: Director

The notes form part of these financial statements

BODY MIND COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 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

BODY MIND COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024
    Average number of employees during the period 3

BODY MIND COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Debtors

2024
£
Other debtors 507
Total 507

BODY MIND COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Directors' loan account
£
Balance at
Advances or credits made: 507
Advances or credits repaid:
Balance at 31 May 2024 507

COMMUNITY INTEREST ANNUAL REPORT

BODY MIND COLLECTIVE CIC

Company Number: 14878749 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

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.

Consultation with stakeholders

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.

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
16 February 2025

And signed on behalf of the board by:
Name: Bryony Morris
Status: Director