INZYME LABS CIC

Company limited by guarantee

Company Registration Number:
15118766 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 6 September 2023

End date: 30 September 2024

INZYME LABS CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

INZYME LABS CIC

Balance sheet

As at 30 September 2024

Notes 13 months to 30 September 2024


£
Current assets
Debtors: 3 7,700
Cash at bank and in hand: 1,714
Total current assets: 9,414
Creditors: amounts falling due within one year: 4 ( 9,572 )
Net current assets (liabilities): (158)
Total assets less current liabilities: (158)
Total net assets (liabilities): (158)
Members' funds
Profit and loss account: (158)
Total members' funds: ( 158)

The notes form part of these financial statements

INZYME LABS CIC

Balance sheet statements

For the year ending 30 September 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 21 May 2025
and signed on behalf of the board by:

Name: Raschique Narwan
Status: Director

The notes form part of these financial statements

INZYME LABS CIC

Notes to the Financial Statements

for the Period Ended 30 September 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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

INZYME LABS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    13 months to 30 September 2024
    Average number of employees during the period 0

INZYME LABS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Debtors

13 months to 30 September 2024
£
Trade debtors 7,700
Total 7,700

INZYME LABS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Creditors: amounts falling due within one year note

13 months to 30 September 2024
£
Accruals and deferred income 8,722
Other creditors 850
Total 9,572

INZYME LABS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Financial Commitments

The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

COMMUNITY INTEREST ANNUAL REPORT

INZYME LABS CIC

Company Number: 15118766 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

Inzyme Labs CIC managed the Youth Innovation hub providing operational and advocacy support with the goals of keeping the hub open beyond the redevelopment of the building. 9 youth organisations have been able to grow their impact by having a dedicated office space with workshop and meeting rooms and over 2000 young people per year have been able to access programmes and services through the space. The hub has also been used by 20 external youth organisations for events and workshops for young people and parents. We have provided free creative and business coaching support to 10 young people to turn their ideas into businesses or passion projects which have supported them in developing their career prospects. They have been able to access 121 support with our business coach, grow their network to support the leverage of their idea while being able to utilise the Youth Innovation Hub to work and focus. We distributed £1000 to young people through our Create It fund for young people to obtain the resources they needed to develop their creative pursuits into career pathways. Young people have used the money to pay for training courses, buy equipment like sewing machines and videography equipment. We have supported 3 youth organisations to develop their practice through providing fiscal hosting, providing strategy and business development support, creative direction and business analysis. This has resulted in all 3 organisations receiving funding, developing ideas and sustainable income streams and implementing better systems in their organisations.

Consultation with stakeholders

Our stakeholders are * young people aged between 14 and 25 who live in London * parents and guardians * youth organisations who support young people in London who require space to deliver support and interventions * partner organisations who support with providing resources such as space and equipment * funding organisations who provide grant funding * local government who provide funding and have an interest in the alternative provisions available to young people * youth advocates and supporters We consult with the young people we directly support to understand our impact and how we can improve. We have consulted with parents and guardians if the beneficiary is under 18 years old. We do this through feedback forms and take action to improve our support based on this. We have held consultations with the youth organisations who operate from the hub in the form of a staff meeting. We also do a bi yearly impact form and have an open door policy for youth organisations to voice any concerns and ideas to support the development with the hub. On receiving feedback we work with the building operator to support any changes needed in line with the building policies. We have monthly meetings as consultations with our partner organisations including the building operator and act on any feedback given especially in line with health and safety, and safeguarding policies. We have had consultations with funding organisations in line with receiving funding. Any feedback is actioned immediately. We have had consultation with Lambeth Council representatives (local government) to gain insight and feedback on how to best navigate the regeneration projects in the area and to access a new space after the regeneration of the current building. There has not been no stakeholder consultations held with youth advocates and supporters.

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
21 May 2025

And signed on behalf of the board by:
Name: Raschique Narwan
Status: Director