GOOD VIBE VEG CIC

Company limited by guarantee

Company Registration Number:
12886631 (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

GOOD VIBE VEG CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

GOOD VIBE VEG CIC

Directors' report period ended 30 September 2024

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

Directors

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

Mr Adam Reed
Mrs Cerys Rivett Dehaini
Ms Lucy McQuillan
Miss Leighanne Beart


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
15 June 2025

And signed on behalf of the board by:
Name: Mr Adam Reed
Status: Director

GOOD VIBE VEG CIC

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 14,054 12,237
Cost of sales: ( 2,050 ) ( 1,495 )
Gross profit(or loss): 12,004 10,742
Distribution costs: 0 0
Administrative expenses: ( 16,853 ) ( 13,116 )
Other operating income: 391 9,886
Operating profit(or loss): (4,458) 7,512
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (4,458) 7,512
Tax: 858 ( 1,593 )
Profit(or loss) for the financial year: (3,600) 5,919

GOOD VIBE VEG CIC

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 8,164 8,193
Investments:   0 0
Total fixed assets: 8,164 8,193
Current assets
Stocks:   0 0
Debtors: 4 1,061 49
Cash at bank and in hand: 7,397 14,252
Investments:   0 0
Total current assets: 8,458 14,301
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 950 ) ( 3,222 )
Net current assets (liabilities): 7,508 11,079
Total assets less current liabilities: 15,672 19,272
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 15,672 19,272
Members' funds
Profit and loss account: 15,672 19,272
Total members' funds: 15,672 19,272

The notes form part of these financial statements

GOOD VIBE VEG 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 16 June 2025
and signed on behalf of the board by:

Name: Mr Adam Reed
Status: Director

The notes form part of these financial statements

GOOD VIBE VEG 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 10-20% straight line

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current and deferred tax are recognised in surplus or deficit for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

GOOD VIBE VEG CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

GOOD VIBE VEG CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 0 10,846 0 0 0 10,846
Additions 0 1,271 0 0 0 1,271
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 30 September 2024 0 12,117 0 0 0 12,117
Depreciation
At 1 October 2023 0 2,653 0 0 0 2,653
Charge for year 0 1,300 0 0 0 1,300
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 30 September 2024 0 3,953 0 0 0 3,953
Net book value
At 30 September 2024 0 8,164 0 0 0 8,164
At 30 September 2023 0 8,193 0 0 0 8,193

GOOD VIBE VEG CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 1,061 49
Total 1,061 49
Debtors due after more than one year: 0 0

GOOD VIBE VEG CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 200 1,593
Accruals and deferred income 750 1,614
Other creditors 0 15
Total 950 3,222

COMMUNITY INTEREST ANNUAL REPORT

GOOD VIBE VEG CIC

Company Number: 12886631 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

The company has continued the process of creating a community market garden and Community Supported Agriculture scheme. This has included increasing the growing space, planting apple trees and hedges. It has grown an abundance of nutritious produce and has continued selling this to local people (members) as weekly veg shares (approx. 35 boxes per week from May to Feb, now in a range of sizes) and one-off orders (March to April). It has also participated in a monthly produce market, making our fresh vegetables available to a wider community. The local community has benefitted by receiving quality, naturally-grown local food delivered to collection points in their town or village, but also through popular, weekly volunteering days at the field. We have a core group of around 8-14 regular volunteers, but around 30 different people have been involved over the year. Volunteer days offered participants the opportunity to exercise, connect with nature, socialise, share ideas and learn about sustainable, low-carbon food growing, and to take produce home with them. Good Vibe Veg has developed a strong relationship with St Dubricius School in Porlock, and now benefits local children through its offering of regular education visits. These sessions enable practical, out-of-classroom learning about growing food using ecologically- friendly methods, to ages 3 to 9yrs. The children love getting stuck in to a wide range of tasks including seed sowing, mulching, composting, planting and harvesting. Good Vibe Veg has also hosted successful community events such as an Open Day (with Horner Farm), and an onion and garlic plaiting evening, and group visits. It has also donated surplus produce to the West Somerset Food Cupboard (food bank) on many occasions, and encourages our members to allow us to donate their veg shares on weeks when they are away.

Consultation with stakeholders

The company’s stakeholders are its members (who pay a monthly subscription), its volunteers, and the wider local community. Memberships commenced in July 2022 and have continued to grow over the past year to around 40. There has been a great deal of consultation regarding which crops to grow, pricing and marketing, and the company has taken all feedback and suggestions on board. Most consultation so far has been informal, through a Whatsapp group and email, but also at our AGM and celebration evening in May 2024, which was well attended.

Directors' remuneration

The directors Mr Adam Reed and Ms Leighanne Beart received remuneration of £8,775 (2023 - £7,873) and £4,948 (2023 - £1,931) respectively. Wages were paid at a commercial hourly rate during the period of accounts ending 30 September 2024.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
15 June 2025

And signed on behalf of the board by:
Name: Adam Paul Reed
Status: Director