EDVENTURE FROME COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
08179568 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Directors' report period ended 31 August 2024

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

Principal activities of the company

Edventure Frome CIC is a community business that supports community entrepreneurship in Somerset (UK) - Frome & Taunton - working with young adults and the wider community. Our passion for supporting community entrepreneurship through educational programmes, events and partnership projects comes from its transformative impact on people and the places they live in. It creates a win-win: - It provides a route to flourish and build livelihoods, skills and confidence, especially for those not engaged in mainstream education, work or looking for a career change. - It creates practical solutions to both global challenges & local issues on the grassroutes level, helping to build community resilience and the society we envision one venture at a time.



Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

S Evans
A Clark
C Lister
E Maughan Mclachan
L Milliard


The director shown below has held office during the period of
1 September 2023 to 6 September 2023

J Boulton


The director shown below has held office during the period of
15 November 2023 to 31 August 2024

A Kapoor


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: S Evans
Status: Director

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 407,604 305,346
Cost of sales: ( 84,343 ) ( 50,250 )
Gross profit(or loss): 323,261 255,096
Administrative expenses: ( 324,421 ) ( 254,726 )
Operating profit(or loss): (1,160) 370
Interest receivable and similar income: 2,285 1,136
Interest payable and similar charges: ( 1 )
Profit(or loss) before tax: 1,125 1,505
Tax: ( 861 ) ( 1,272 )
Profit(or loss) for the financial year: 264 233

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,980 11,581
Total fixed assets: 6,980 11,581
Current assets
Debtors: 4 25,214 460
Cash at bank and in hand: 159,763 193,907
Total current assets: 184,977 194,367
Creditors: amounts falling due within one year: 5 ( 103,562 ) ( 117,817 )
Net current assets (liabilities): 81,415 76,550
Total assets less current liabilities: 88,395 88,131
Creditors: amounts falling due after more than one year: 6 ( 59,000 ) ( 59,000 )
Total net assets (liabilities): 29,395 29,131
Members' funds
Profit and loss account: 29,395 29,131
Total members' funds: 29,395 29,131

The notes form part of these financial statements

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 August 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 18 February 2025
and signed on behalf of the board by:

Name: S Evans
Status: Director

The notes form part of these financial statements

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 12 12

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 33,121 33,121
Additions
Disposals
Revaluations
Transfers
At 31 August 2024 33,121 33,121
Depreciation
At 1 September 2023 21,540 21,540
Charge for year 4,601 4,601
On disposals
Other adjustments
At 31 August 2024 26,141 26,141
Net book value
At 31 August 2024 6,980 6,980
At 31 August 2023 11,581 11,581

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 25,214 426
Other debtors 34
Total 25,214 460

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 5,000
Taxation and social security 1,088 1,272
Accruals and deferred income 102,474 111,545
Total 103,562 117,817

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 59,000 59,000
Total 59,000 59,000

COMMUNITY INTEREST ANNUAL REPORT

EDVENTURE FROME COMMUNITY INTEREST COMPANY

Company Number: 08179568 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

This year we have been able to expand our offer for both young adults and our wider community. We have evolved our previous courses to provide more of a learning progression through our offer. Our biggest project continues to be a £1.7M Green and Healthy Frome National Lottery Funded project in partnership with Frome Town Council and the Frome Medical Practice. Our annual footfall across our programmes, events and initiatives (excluding visitors to the Community Fridge), was about 9,000. - We supported 160 individual learners through our Make Shed open sessions - We had 80 funded learners on our short courses - We continued running the Welshmill Hub with a footfall of about 600 people, and the Frome Community Fridge - which has footfall data suggesting 100s of people use the service each week. - 8069 people attended Community events as part of Edventure generated activity for Green and Healthy Forme. This was made up of a mixture of sessions we ran directly (1378), those who were active members of the supported Residencies/groups of action (876), and those attending co-produced events (5815). In total there were 13,363 engagements with members of the community by the end of June 2024 across the whole programme. Incubator development: Our student team of 13 learners started up Our Beautiful Launderette, a community third space for Frome Equity Diversity and Inclusion Programming: We delivered our first Enterprising Women course of 12 learners, a course designed to empower even more women to navigate the world of self-employment, it's a hands-on journey for women to work on their own ideas or projects. A total 25 individual learners. Healthy Homes has helped 2,532 Frome residents with advice, financial support and referrals for energy efficiency measures. So far, this support adds up to almost £90,000 in energy cost savings and 43 tonnes in carbon emissions (carbon dioxide equivalent – CO2e). Plastic Free Periods is a campaign that ran that has engaged with 299 young people at events and clinics promoting the use of more sustainable period products. Green Connectors has held 25 staff workshops at Frome Medical Practice, engaged 465 Frome area residents in public workshops, and spent 59 days out in the community. Waste Reduction Programming:The Community Fridge has continued to reduce X tonnes of food from supermarkets,cafes and stores going to waste. We successfully fundraised for a paid Fridge Coordinator position that is enabling us to reopen our second fridge site and develop a project to open a third fridge in 2025 as well as run more partnership programmes in the community. Beyond Frome have made 396 connections with individuals and organisations actively working to promote health-climate co-benefits, in the form of knowledge sharing, conferences and other events. Edventure Residencies include: - Frome Families for the Future – River Vision Project – connecting us with our river through activities, consultation, stakeholder engagement, song and a riverside festival, and designing a new access point to the River Frome in Rodden Meadow. - Sewing the Seeds – a community fibre project, growing and processing flax for food and fibre have been given some funding to support their fibre/food workshops. - Everyone Needs Pockets – a network of 150+ makers, designers, stitchers and secondhand clothing fans, running activities including Mend In Public Day, How to Mend Your Clothes repair sessions, and hosting the Frome hub of Sustainable Fashion Week from 20 – 29 September 2024. - Frome Food Network – Continues to work with local food growers and makers. - Back to Nature – nature-based outdoor sessions for women, and those who significantly identify as such, building confidence and community through learning outdoor skills. - Super Roots – Green & Healthy Play Toolkit with events (Autumn / Winter) – a play toolkit to empower young people and communities to build positive futures and co-create playful, climate resilient opportunities through the DIY spirit of Adventure Play. - Frome Seed Library – Sprouts children’s activities at Frome Library, workshops and outreach to support new and existing community growing spaces, Seedy Socials connecting seeds to wellbeing. NEET Provision: We continued delivering focused 1:1 Advocacy support to young people (16-18 year old) who are NEET or at risk of being NEET. We worked with 8 young people over the year. We also continued our work in Taunton supporting Young Somerset to develop Enterprise opportunities for young people who are NEET or at risk of being NEET. This has involved developing enhanced safeguarding systems.

Consultation with stakeholders

During this year, we invested in a significant strategy review process in order to build on Edventure’s strengths, address areas for improvement and ensure we are fit to meet changing current and future demands. As inputs to this strategy review process, we engaged with stakeholders at local, regional and national levels on strengths, weaknesses and opportunities for Edventure, in key areas including skills and education, climate change and the circular economy. We incorporated their insights and feedback in to our strategic framework. The company’s stakeholders are residents of Frome and Taunton, as well as young adults 16-35 years old. We have consulted our stakeholders in the following ways: - We ran Future Shed every Friday during term-time, where the community were invited to share their thoughts on what the town needs and how Edventure might help - We took part in presentations and workshops arising from the Frome Town Council’s survey - Our directors are all local residents and have other roles locally that feed in views - We have been working closely in partnership with other local agencies to hone our offer to local requirements and to diversify our reach - We use our social media to engage with our audiences and ask questions - Both Advocacy and MakeShed programmes are user-led - Our biannual tours provide an opportunity for stakeholder engagement - The Green and Healthy Frome project means working closely with two of our most important local stakeholders (Frome Town Council and Frome Medical Practice), and there are meetings at all levels to share insights.

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
6 November 2024

And signed on behalf of the board by:
Name: S Evans
Status: Director