POTENTIAL SPACE C.I.C.

Company limited by guarantee

Company Registration Number:
15458525 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 1 February 2024

End date: 28 February 2025

POTENTIAL SPACE C.I.C.

Contents of the Financial Statements

for the Period Ended 28 February 2025

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

POTENTIAL SPACE C.I.C.

Directors' report period ended 28 February 2025

The directors present their report with the financial statements of the company for the period ended 28 February 2025

Principal activities of the company

The company's principal activity was the provision of mental health support and the development of our premises as a space for practitioners to provide mental health and wellbeing projects, services and initiatives.

Company policy on disabled employees

The company has no employees, but we are committed to inclusion and accessibility.



Directors

The director shown below has held office during the period of
1 February 2025 to 28 February 2025

Spencer James Cooke


The directors shown below have held office during the whole of the period from
1 February 2024 to 28 February 2025

Marisha Kay
Allison Prince


The director shown below has held office during the period of
1 February 2024 to 15 January 2025

Paul Terry


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 July 2025

And signed on behalf of the board by:
Name: Marisha Kay
Status: Director

POTENTIAL SPACE C.I.C.

Profit And Loss Account

for the Period Ended 28 February 2025

13 months to 28 February 2025


£
Turnover: 11,358
Gross profit(or loss): 11,358
Administrative expenses: ( 7,838 )
Operating profit(or loss): 3,520
Profit(or loss) before tax: 3,520
Profit(or loss) for the financial year: 3,520

POTENTIAL SPACE C.I.C.

Balance sheet

As at 28 February 2025

Notes 13 months to 28 February 2025


£
Fixed assets
Tangible assets: 3 3,065
Total fixed assets: 3,065
Current assets
Cash at bank and in hand: 1,812
Total current assets: 1,812
Creditors: amounts falling due within one year: 4 ( 1,510 )
Net current assets (liabilities): 302
Total assets less current liabilities: 3,367
Creditors: amounts falling due after more than one year: 5 ( 1,025 )
Total net assets (liabilities): 2,342
Members' funds
Profit and loss account: 2,342
Total members' funds: 2,342

The notes form part of these financial statements

POTENTIAL SPACE C.I.C.

Balance sheet statements

For the year ending 28 February 2025 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 July 2025
and signed on behalf of the board by:

Name: Marisha Kay
Status: Director

The notes form part of these financial statements

POTENTIAL SPACE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 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

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life. All tangible assets -25% on reducing balance per year.

POTENTIAL SPACE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees

    13 months to 28 February 2025
    Average number of employees during the period 0

POTENTIAL SPACE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,957 80 2,051 4,088
Disposals
Revaluations
Transfers
At 28 February 2025 1,957 80 2,051 4,088
Depreciation
Charge for year 490 20 513 1,023
On disposals
Other adjustments
At 28 February 2025 490 20 513 1,023
Net book value
At 28 February 2025 1,467 60 1,538 3,065

POTENTIAL SPACE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Creditors: amounts falling due within one year note

13 months to 28 February 2025
£
Other creditors 1,510
Total 1,510

Creditors are directors who advanced money to the company to cover start up costs.

POTENTIAL SPACE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

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

13 months to 28 February 2025
£
Other creditors 1,025
Total 1,025

COMMUNITY INTEREST ANNUAL REPORT

POTENTIAL SPACE C.I.C.

Company Number: 15458525 (England and Wales)

Year Ending: 28 February 2025

Company activities and impact

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.

Consultation with stakeholders

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.

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 July 2025

And signed on behalf of the board by:
Name: Marisha Kay
Status: Director