HOPE IS CIC

Company limited by guarantee

Company Registration Number:
14486461 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2024

Period of accounts

Start date: 1 December 2023

End date: 30 November 2024

HOPE IS CIC

Contents of the Financial Statements

for the Period Ended 30 November 2024

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

HOPE IS CIC

Directors' report period ended 30 November 2024

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

Principal activities of the company

The company's principal activity during the year was that of a community supermarket, run for the benefit of those in need in the community.

Additional information

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Directors

The director shown below has held office during the whole of the period from
1 December 2023 to 30 November 2024

John Martin Hailes


The director shown below has held office during the period of
16 February 2024 to 30 November 2024

Peter Robin Moss


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
21 August 2025

And signed on behalf of the board by:
Name: John Martin Hailes
Status: Director

HOPE IS CIC

Profit And Loss Account

for the Period Ended 30 November 2024

2024 13 months to 30 November 2023


£

£
Turnover: 47,251 31,163
Cost of sales: ( 23,709 ) ( 24,737 )
Gross profit(or loss): 23,542 6,426
Administrative expenses: ( 40,679 ) ( 29,076 )
Other operating income: 11,118 41,489
Operating profit(or loss): (6,019) 18,839
Interest receivable and similar income: 2,584 343
Profit(or loss) before tax: (3,435) 19,182
Profit(or loss) for the financial year: (3,435) 19,182

HOPE IS CIC

Balance sheet

As at 30 November 2024

Notes 2024 13 months to 30 November 2023


£

£
Fixed assets
Tangible assets: 3 15,747 19,182
Total fixed assets: 15,747 19,182
Current assets
Stocks: 4 2,500 1,250
Cash at bank and in hand: 98,889 82,843
Total current assets: 101,389 84,093
Creditors: amounts falling due within one year: 5 ( 101,389 ) ( 84,093 )
Net current assets (liabilities): 0 0
Total assets less current liabilities: 15,747 19,182
Total net assets (liabilities): 15,747 19,182
Members' funds
Profit and loss account: 15,747 19,182
Total members' funds: 15,747 19,182

The notes form part of these financial statements

HOPE IS CIC

Balance sheet statements

For the year ending 30 November 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 21 August 2025
and signed on behalf of the board by:

Name: John Martin Hailes
Status: Director

The notes form part of these financial statements

HOPE IS CIC

Notes to the Financial Statements

for the Period Ended 30 November 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Equipment 20% reducing balance Motor vehicles 20% reducing balance

    Other accounting policies

    Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current tax assets and liabilities are not discounted.

HOPE IS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees

    2024 13 months to 30 November 2023
    Average number of employees during the period 2 2

HOPE IS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2023 1,452 18,000 19,452
Additions 449 449
Disposals
Revaluations
Transfers
At 30 November 2024 1,901 18,000 19,901
Depreciation
At 1 December 2023 120 150 270
Charge for year 314 3,570 3,884
On disposals
Other adjustments
At 30 November 2024 434 3,720 4,154
Net book value
At 30 November 2024 1,467 14,280 15,747
At 30 November 2023 1,332 17,850 19,182

HOPE IS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Stocks

2024 13 months to 30 November 2023
£ £
Stocks 2,500 1,250
Total 2,500 1,250

HOPE IS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Creditors: amounts falling due within one year note

2024 13 months to 30 November 2023
£ £
Trade creditors 17,750
Accruals and deferred income 101,389 66,343
Total 101,389 84,093

COMMUNITY INTEREST ANNUAL REPORT

HOPE IS CIC

Company Number: 14486461 (England and Wales)

Year Ending: 30 November 2024

Company activities and impact

HOPE IS has continued to provide a pop-up supermarket in both Laindon & Vange, Basildon. The supermarkets sell everyday products at very reduced & affordable prices to the surrounding community. We are still fund-assisted by Essex County Council, and have also been proactive in securing additional grants to help maintain longevity. The membership for new & repeat customers remains at £3.50 per year and as of end of Nov24, we had over 600 memberships – providing food for 202 OAP’s, 821 adults & 686 children.

Consultation with stakeholders

Our stakeholders are the customers who attend the supermarket, and as well as chatting to these members over a cuppa whilst at the supermarket, we have also received additional crucial feedback via ‘feedback-forms’, which we leave out to be filled in anonymously. We also have a team of volunteers who run the supermarket from purchasing & pricing up the goods, to heavy lifting and setting up on the day. We regularly check in with the volunteers for feedback & suggestions to ‘fine-tune’ the operational side of things. Ultimately, we aim to provide the products requested by our customers as well as making access better for those with disabilities, following the feedback we receive.

Directors' remuneration

On 25th Oct23, the director running the supermarket on the annual salary of £14,040 resigned & left the company. On 1st Jan24, another director took on the above roll and was given an annual salary of £15,600.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
21 August 2025

And signed on behalf of the board by:
Name: John Martin Hailes
Status: Director