ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Company limited by guarantee

Company Registration Number:
15117967 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2025

Period of accounts

Start date: 1 April 2024

End date: 31 March 2025

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Contents of the Financial Statements

for the Period Ended 31 March 2025

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

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Principal activities of the company

Principal activity of the company during the financial year was of Publishing of newspapers and other activities. Statement of directors' responsibilities The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to select suitable accounting policies and then apply them consistently make judgments and accounting estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.



Directors

The directors shown below have held office during the whole of the period from
1 April 2024 to 31 March 2025

Paul Nwachukwu Opiah
Stephen Raymond Axford
Peter David Clay


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
30 June 2025

And signed on behalf of the board by:
Name: Paul Nwachukwu Opiah
Status: Director

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Profit And Loss Account

for the Period Ended 31 March 2025

2025 7 months to 31 March 2024


£

£
Turnover: 39,979 0
Cost of sales: ( 16,134 ) 0
Gross profit(or loss): 23,845 0
Distribution costs: ( 1,633 )
Administrative expenses: ( 21,087 ) ( 150 )
Other operating income: 0
Operating profit(or loss): 1,125 (150)
Interest receivable and similar income: 25
Interest payable and similar charges: ( 808 )
Profit(or loss) before tax: 342 (150)
Tax: ( 304 ) 0
Profit(or loss) for the financial year: 38 (150)

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Balance sheet

As at 31 March 2025

Notes 2025 7 months to 31 March 2024


£

£
Fixed assets
Intangible assets:   0
Tangible assets: 3 12,673 0
Investments:   0 0
Total fixed assets: 12,673 0
Current assets
Debtors: 4 4,180 0
Cash at bank and in hand: 10,556 0
Total current assets: 14,736 0
Creditors: amounts falling due within one year: 5 ( 27,521 ) ( 150 )
Net current assets (liabilities): (12,785) (150)
Total assets less current liabilities: (112) ( 150)
Total net assets (liabilities): (112) (150)
Members' funds
Profit and loss account: (112) ( 150)
Total members' funds: ( 112) (150)

The notes form part of these financial statements

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Balance sheet statements

For the year ending 31 March 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 30 June 2025
and signed on behalf of the board by:

Name: Paul Nwachukwu Opiah
Status: Director

The notes form part of these financial statements

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Notes to the Financial Statements

for the Period Ended 31 March 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

    Turnover policy

    Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Motor Vehicles 25% Straight Line Computer Equipment 25% Reducing Balance

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 2. Employees

    2025 7 months to 31 March 2024
    Average number of employees during the period 0 0

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2024 0 0 0
Additions 1,523 14,980 16,503
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 March 2025 1,523 14,980 16,503
Depreciation
At 1 April 2024 0 0 0
Charge for year 85 3,745 3,830
On disposals
Other adjustments
At 31 March 2025 85 3,745 3,830
Net book value
At 31 March 2025 1,438 11,235 12,673
At 31 March 2024 0 0 0

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Debtors

2025 7 months to 31 March 2024
£ £
Trade debtors 2,402 0
Prepayments and accrued income 1,778
Total 4,180 0
Debtors due after more than one year: 0 0

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

5. Creditors: amounts falling due within one year note

2025 7 months to 31 March 2024
£ £
Bank loans and overdrafts 12,015 0
Taxation and social security 304
Accruals and deferred income 2,910 150
Other creditors 12,292 0
Total 27,521 150

COMMUNITY INTEREST ANNUAL REPORT

ILKESTON LIFE COMMUNITY NEWSPAPER CIC

Company Number: 15117967 (England and Wales)

Year Ending: 31 March 2025

Company activities and impact

During the financial year ending 31st March 2025, Ilkeston Life Community Newspaper CIC continued its core mission of producing a monthly printed newspaper that shares stories, events, and updates relevant to the Ilkeston and Erewash community. The newspaper features contributions from local residents, schools, charities, and community groups, promoting local voices and grassroots involvement. By providing a platform for community expression, the newspaper helps reduce social isolation, celebrate local achievements, and improve community cohesion. It is distributed across various public spaces, including libraries, shops, and community centres, ensuring accessibility for those without internet access. In addition, the CIC supported several community initiatives, including youth writing competitions, local history features, and collaborations with schools and voluntary organisations. The publication has provided opportunities for aspiring writers, journalists, and volunteers to gain experience and share their perspectives.

Consultation with stakeholders

The stakeholders of Ilkeston Life Community Newspaper CIC include local residents, contributors, community groups, schools, advertisers, and volunteers. Regular informal consultations are carried out through community feedback, letters to the editor, social media interaction, and conversations at local events. Feedback is gathered through comments, story suggestions, and reader input both online and in person. Contributors and local groups are also invited to share their views on the paper’s content and direction. In response to feedback, the newspaper has increased coverage of local events, expanded its "People’s Voice" section for community opinions, and introduced more space for youth and school contributions. We continue to use community input to guide content planning and ensure the paper reflects the interests and concerns of Ilkeston residents.

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
30 June 2025

And signed on behalf of the board by:
Name: Paul Nwachukwu Opiah
Status: Director