MANGROVE HOUSE CIRENCESTER CIC

Company limited by guarantee

Company Registration Number:
14337399 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

MANGROVE HOUSE CIRENCESTER CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

MANGROVE HOUSE CIRENCESTER CIC

Profit And Loss Account

for the Period Ended 30 September 2024

2024 13 months to 30 September 2023


£

£
Turnover: 36,321 0
Cost of sales: ( 33,151 ) 0
Gross profit(or loss): 3,170 0
Distribution costs: 0 0
Administrative expenses: ( 79 ) ( 14,134 )
Other operating income: 1,467 6,343
Operating profit(or loss): 4,558 (7,791)
Interest receivable and similar income: 12 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 4,570 (7,791)
Tax: 0 0
Profit(or loss) for the financial year: 4,570 (7,791)

MANGROVE HOUSE CIRENCESTER CIC

Balance sheet

As at 30 September 2024

Notes 2024 13 months to 30 September 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 5,222 3,172
Investments:   0 0
Total current assets: 5,222 3,172
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 5,222 3,172
Total assets less current liabilities: 5,222 3,172
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 8,444 ) ( 10,963 )
Accruals and deferred income: 0 0
Total net assets (liabilities): (3,222) (7,791)
Members' funds
Profit and loss account: (3,222) ( 7,791)
Total members' funds: ( 3,222) (7,791)

The notes form part of these financial statements

MANGROVE HOUSE CIRENCESTER 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.

This report was approved by the board of directors on 2 June 2025
and signed on behalf of the board by:

Name: Simon Wilson
Status: Director

The notes form part of these financial statements

MANGROVE HOUSE CIRENCESTER 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 includes: - Rental income from residents via the council in the form of agreed Housing Benefit - Income directly from residents in the form of a monthly Service Charge. This is accounted for on a cash basis, late payments are not recorded on the P&L until monies are received - Donations

    Tangible fixed assets depreciation policy

    Anything expenditure under £2,000 will be classed as operational expenditure, not capital expenditure and will therefore be depreciated within the financial period.

MANGROVE HOUSE CIRENCESTER CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 13 months to 30 September 2023
    Average number of employees during the period 0 0

    We have paid a contractor for a small amount of support to run administration of the house (on average 9 hours a week). All other work is completed by volunteers.

MANGROVE HOUSE CIRENCESTER CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Financial Commitments

For FY22/23 account liabilities for rent fees to Green Pastures are included as administration costs as this is an expected part of the set-up fees for the project and worked into financial budgeting with Green Pastures. The amount was added to outstanding debit to Green Pastures. For FY23/24 we were able to make significant progress in reducing this liability. Green Pastures Lease costs for the year have been recognised as "Cost of sales" given the project was active and up and running earning revenue from the start of the year. The outstanding amount owed to Green Pastures is reflected in the balance sheet as a liability. As a result member funds (liabilities) are much reduced. It is expected that these will continue to be reduced through FY 24/25 and be fully paid down, enabling the creation of a reserves fund during FY 26/27.

COMMUNITY INTEREST ANNUAL REPORT

MANGROVE HOUSE CIRENCESTER CIC

Company Number: 14337399 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

The company leases and manages a 4 bedroom house in Cirencester working with the Green Pastures Charity to provide supported housing for men aged 19 or over. Financial year 23/24 was our first full year of operation. During the financial year 2023 – 2024: - We continued to raise funds for Green pastures and the project directly - The board of directors continued to be actively involved and met for Board meetings on a quarterly basis with interim meetings to ensure the smooth running of the house - A volunteer house manager was appointed to oversee daily running of the house and ensure the care of residents. - Contracted part time (6hrs p/w) Administration support was recruited - The first resident was welcomed at the end of September 2023. Through the year an additional 3 residents were brought into the house. - One resident subsequently left the house due to the breach of his licence agreement and ongoing issues. - One resident approached the point of positive move on into independence holding a secure job for 18 hours a week. - The volunteer team continued to total approximately 20 people - At the end of the year 3 residents remained with us with a fourth being identified. Residents were provided support in the form of: - Weekly house meetings run by the house manager - Mentoring - Skills coaching and education - Signposting to additional services required (i.e. counselling) when the volunteer team were not able to provide the level of service required. Additional volunteer work was undertaken to maintain the house and garden. This Directors report and accompanying accounts are prepared under the “small companies regime”. The accounts are not audited but have been reviewed by an accountant.

Consultation with stakeholders

The company’s stakeholders are: - Residents for whom the accommodation and support provided builds a foundation for future independent living. - Cotswold District Council from whom day to day funding to support residents is provided from the housing element of their various Benefits. - Supporters and volunteers who provide services and financial funding for the company (primarily to support the additional housing costs associated with the property over and above the amount received from the council) - Green Pastures: the umbrella charity that owns the property - Cirencester Baptist Church as the anchor organisation offering ongoing support Ongoing representation (non-voting) of CBC is maintained through attendance at Board meetings Regular meetings with Green Pastures as the house owner and supporter of the work have also taken place on a quarterly basis. Additional attendance of volunteers to Green Pasture training and information events has helped keep those involved well informed on the industry, our obligations and the ongoing quality of service to residents. Relationships with referral organisations locally and Costwold District Council are ongoing.

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
2 June 2025

And signed on behalf of the board by:
Name: Simon Wilson
Status: Director