BRIGHTSTORE CIC

Company limited by guarantee

Company Registration Number:
13726536 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2024

Period of accounts

Start date: 1 December 2023

End date: 30 November 2024

BRIGHTSTORE CIC

Contents of the Financial Statements

for the Period Ended 30 November 2024

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

BRIGHTSTORE CIC

Directors' report period ended 30 November 2024

The directors present their report with the financial statements of the company for the period ended 30 November 2024

Directors

The directors shown below have held office during the whole of the period from
1 December 2023 to 30 November 2024

Rachel Pitts-Wicks
Lewis Joseph Nyman
Lisa Jane Shaw


The director shown below has held office during the period of
1 December 2023 to 29 February 2024

Joel Essex


The directors shown below have held office during the period of
1 March 2024 to 30 November 2024

Michele Elizabeth Spencer
Siriwimon Areelertworakul


The director shown below has held office during the period of
29 February 2024 to 30 November 2024

Dean Patrick James Gallagher


The director shown below has held office during the period of
29 February 2024 to 19 April 2024

Celia Jane Godsall


Secretary Maria Roughton

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
2 March 2025

And signed on behalf of the board by:
Name: Rachel Pitts-Wicks
Status: Director

BRIGHTSTORE CIC

Profit And Loss Account

for the Period Ended 30 November 2024

2024 2023


£

£
Turnover: 129,442 140,336
Cost of sales: ( 54,887 ) ( 54,892 )
Gross profit(or loss): 74,555 85,444
Administrative expenses: ( 78,897 ) ( 57,490 )
Operating profit(or loss): (4,342) 27,954
Interest receivable and similar income: 141
Interest payable and similar charges: ( 45 )
Profit(or loss) before tax: (4,246) 27,954
Tax: 1,844 ( 5,213 )
Profit(or loss) for the financial year: (2,402) 22,741

BRIGHTSTORE CIC

Balance sheet

As at 30 November 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,555 1,098
Total fixed assets: 6,555 1,098
Current assets
Debtors: 4 4,290 42,977
Cash at bank and in hand: 62,723 46,314
Total current assets: 67,013 89,291
Creditors: amounts falling due within one year: 5 ( 33,531 ) ( 47,950 )
Net current assets (liabilities): 33,482 41,341
Total assets less current liabilities: 40,037 42,439
Total net assets (liabilities): 40,037 42,439
Members' funds
Profit and loss account: 40,037 42,439
Total members' funds: 40,037 42,439

The notes form part of these financial statements

BRIGHTSTORE CIC

Balance sheet statements

For the year ending 30 November 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 2 March 2025
and signed on behalf of the board by:

Name: Rachel Pitts-Wicks
Status: Director

The notes form part of these financial statements

BRIGHTSTORE CIC

Notes to the Financial Statements

for the Period Ended 30 November 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. Turnover includes amounts received from various bodies in the form of grants.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Motor vehicles 4 years Fixtures & fittings 5 years Computer equipment 4 years

    Other accounting policies

    Basis of preparation The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. Presentation currency The accounts are presented in £ sterling. Deferred income Deferred income comprises grants received with a specific purpose or restriction. Some of these also have a requirement to return any unused grant. These grants are released to the profit and loss when the expenditure incurred. Grants without a specified use or restriction are taken to the profit and loss account on receipt.

BRIGHTSTORE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 3

BRIGHTSTORE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2023 669 975 0 1,644
Additions 200 526 7,080 7,806
Disposals ( 60 ) ( 60 )
Revaluations
Transfers
At 30 November 2024 869 1,441 7,080 9,390
Depreciation
At 1 December 2023 211 335 0 546
Charge for year 174 360 1,770 2,304
On disposals ( 15 ) ( 15 )
Other adjustments
At 30 November 2024 385 680 1,770 2,835
Net book value
At 30 November 2024 484 761 5,310 6,555
At 30 November 2023 458 640 0 1,098

BRIGHTSTORE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Debtors

2024 2023
£ £
Trade debtors 63 42,352
Prepayments and accrued income 2,303 625
Other debtors 1,924
Total 4,290 42,977

BRIGHTSTORE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 2,419 3,467
Taxation and social security 1,034 5,644
Accruals and deferred income 30,078 35,079
Other creditors 0 3,760
Total 33,531 47,950

COMMUNITY INTEREST ANNUAL REPORT

BRIGHTSTORE CIC

Company Number: 13726536 (England and Wales)

Year Ending: 30 November 2024

Company activities and impact

In 2023-24 the company ran 3 local weekly shops in different areas of Brighton & Hove, as well as a weekly pop-up shop in Coldean. One of our branches, Hove, closed at the end of this period. This was due to a combination of factors: An inadequate venue, complex logistics, lack of available food. This area remains well supported by other food projects. A proportion of our members and volunteers moved to one of our other locations and continue to be supported. The company sourced surplus food from local businesses, received surplus food from FareShare UK and purchased fresh fruit and vegetables from a local supplier in order to provide members with a good shop for a small weekly fee, while also reducing food waste. The company provided 7808 weekly shops to 642 households, averaging 163 household shops per week. For 3 months between July and October we ran a pilot of a delivery service for housebound members. This service, although useful to the few members who took up the offer, did not prove popular enough to remain cost effective in the longer term. We slightly increased our donation amounts to £5/£7 in April 2024, in order to cover increased running and purchasing costs, but remain a secure and cost effective service to our members. Stores are run by volunteers drawn largely from the membership, which provides a close link between the company and the communities it serves. In addition, the company was able to employ dedicated store leads to improve communication between the company, members and volunteers and improve the service offered. At the year end, the company had 3 part-time employees, all local to the city. We offered volunteer placement opportunities to both University of Brighton students, and youth offenders through the Council's Youth Justice team.

Consultation with stakeholders

Our stakeholders are our members and volunteer team members. At the end of the year we had 366 active members, and 71 volunteers. We ran in 3 locations with a membership made up of local residents, and a further surplus scheme run by a community centre where anyone local can collect food. We ran a survey of our members in winter 2024. Some results from the survey: Of respondents: 75% said they had saved money; 69% said they eat better within their budget; 43% had tried new foods; 50% ate more vegetables. 54% said it made them feel more connected to others; 39% said they had made new friends; 49% learned about other services through us. Respondents rated us 4.5/5 for value for money. Some quotes: “Brightstore has been a life line when things have been really tight. The food choices are great and always lots of lovely fruit and veg. Brightstore is also a hub for the community where we can chat and get advice about other agencies. It's also really helped to chat when I've needed it. The staff are really caring” “BrightStore provides quality food and some lovely fresh produce for great value and has considerably reduced my family's food expenditure. But it is so much more to me than that as it helps me to feel less isolated and more connected to the local community. The volunteers are amazing. I wish everyone everywhere could have access to such a scheme.” We also send out a weekly email newsletter, and run a WhatsApp group for each store, as well as a Facebook group where members are encouraged to share recipes and other information. Employing store leads has also allowed us to have more direct contact with members, and to allow suggestions and feedback to be communicated more easily with the organisation. Our Committee is made up of BrightStore members, volunteers and other supporters from the local community, who contribute by steering and offering advice and collaboration; and widen our reach by networking and nurturing connections throughout the city.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £24,354. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Rachel Pitts-Wicks
Status: Director