for the Period Ended 28 February 2025
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 28 February 2025
Principal activities of the company
Company policy on disabled employees
Directors
The director shown below has held office during the period of
1 February 2025
to
28 February 2025
The directors shown below have held office during the whole of the period from
1 February 2024
to
28 February 2025
The director shown below has held office during the period of
1 February 2024
to
15 January 2025
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
| 13 months to 28 February 2025 | ||
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£ |
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| Turnover: |
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| Gross profit(or loss): |
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| Administrative expenses: |
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| Operating profit(or loss): |
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| Profit(or loss) before tax: |
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| Profit(or loss) for the financial year: |
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As at
| Notes | 13 months to 28 February 2025 | ||
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£ |
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| Fixed assets | |||
| Tangible assets: | 3 |
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| Total fixed assets: |
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| Current assets | |||
| Cash at bank and in hand: |
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| Total current assets: |
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| Creditors: amounts falling due within one year: | 4 |
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: | 5 |
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| Total net assets (liabilities): |
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| Members' funds | |||
| Profit and loss account: |
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| Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 28 February 2025
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 28 February 2025
| 13 months to 28 February 2025 | ||
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| Average number of employees during the period |
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for the Period Ended 28 February 2025
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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| Cost | £ | £ | £ | £ | £ | £ |
| Additions |
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| Disposals | ||||||
| Revaluations | ||||||
| Transfers | ||||||
| At 28 February 2025 |
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| Charge for year |
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| On disposals | ||||||
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| At 28 February 2025 |
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| Net book value | ||||||
| At 28 February 2025 |
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for the Period Ended 28 February 2025
| 13 months to 28 February 2025 | ||
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| £ | ||
| Other creditors |
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| Total |
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for the Period Ended 28 February 2025
| 13 months to 28 February 2025 | ||
|---|---|---|
| £ | ||
| Other creditors |
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| Total |
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Potential Space is both a physical space and a collective of practitioners seeking to make a positive impact on the holistic health of our community, with whole -person wellbeing and sustainability at the core of everything we do. Our directors are experienced Educators and Practitioners, who aim to make community-based support more accessible and affordable. We hold a long lease for our premises – until December 2030. We aim to use this time to establish our unique premises as a modern, sustainable multi-functional community space and develop our work in the spheres of Earth Care, Creative Expression, Practical Action, Psychological Therapies and Holistic Healing. Currently, our main offer is our therapy room, which is used by practitioners for their private and project work and rented to a local charity for 2 days a week for the therapeutic sessions delivered by their volunteers. We offer a package to practitioners where they pay a set amount each month for a certain amount of hours’ use of our therapy room, our communal amenities and a listing on the Practitioners page of our website. We have done extensive remodelling in the rest of our space- taking down partitioning walls to open the space into a lounge/studio/gallery space where we have hosted artists as part of the Belper Arts Trail, pop up charity shops, workshops, Creative Expressive therapy sessions and Spoken Word open mic and Pamper evenings. This space will be further developed to be safe and comfortable for all ages and abilities. The positive impact of our first year as a new CIC has been evident in the feedback from our hundreds of visitors – they love the calm space with its positive energy and the feeling of being sheltered from the outside world. The skills learnt, the poems shared, the therapy journeys started and completed, the holistic healing sessions made accessible and affordable. We look forward to further improvements to our premises and developing relevant projects from our diverse skills base and increasing our impact in the year ahead.
As a new social enterprise, we reached out to the local council, charities and non-profit organisations to see how we can complement what is already on offer in our local area. We consulted with local practitioners and tradespeople to design remodelling of our space that will be a unique and valuable asset to our community.Our largest stakeholder is Eartharmony, the zero waste shop we sublet from. As the shop and Potential Space are connected by an internal stairway, customers support both organisations through the formal partnership and shared resources between the two.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
2 July 2025
And signed on behalf of the board by:
Name: Marisha Kay
Status: Director