I LOVE NORTH SHIELDS CIC

Company limited by guarantee

Company Registration Number:
15785600 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2025

Period of accounts

Start date: 18 June 2024

End date: 30 June 2025

I LOVE NORTH SHIELDS CIC

Contents of the Financial Statements

for the Period Ended 30 June 2025

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

I LOVE NORTH SHIELDS CIC

Profit And Loss Account

for the Period Ended 30 June 2025

2025


£
Turnover: 8,076
Cost of sales: ( 2,108 )
Gross profit(or loss): 5,968
Administrative expenses: ( 6,602 )
Other operating income: 4,143
Operating profit(or loss): 3,509
Profit(or loss) before tax: 3,509
Profit(or loss) for the financial year: 3,509

I LOVE NORTH SHIELDS CIC

Balance sheet

As at 30 June 2025

Notes 2025


£
Fixed assets
Tangible assets: 3 1,031
Total fixed assets: 1,031
Current assets
Cash at bank and in hand: 1,754
Total current assets: 1,754
Net current assets (liabilities): 1,754
Total assets less current liabilities: 2,785
Creditors: amounts falling due after more than one year: 4 ( 500 )
Total net assets (liabilities): 2,285
Members' funds
Profit and loss account: 2,285
Total members' funds: 2,285

The notes form part of these financial statements

I LOVE NORTH SHIELDS CIC

Balance sheet statements

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

Name: Simone Harper
Status: Director

The notes form part of these financial statements

I LOVE NORTH SHIELDS CIC

Notes to the Financial Statements

for the Period Ended 30 June 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 represents income received from advertising, sponsorship, merchandise sales, and grant funding. Income is recognised in the period to which it relates, when the amount can be reliably measured and receipt is probable. Grants and donations are recognised when the company becomes entitled to them and the related conditions have been met.

    Tangible fixed assets depreciation policy

    Tangible Fixed Assets and Depreciation: Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all tangible assets to write off the cost less estimated residual value over their expected useful lives, as follows: Computer and camera equipment 33% per annum straight line Fixtures and fittings 20% per annum straight line Other equipment 25% per annum straight line Assets under £250 are written off in the year of purchase.

    Other accounting policies

    Grants and Donations: Grant income is recognised when the company is entitled to the funds, the amount can be measured reliably, and there is reasonable assurance that the conditions attached to the grant will be fulfilled. Going Concern: The directors have assessed the company’s ability to continue as a going concern and are satisfied that adequate resources are available to meet its obligations for the foreseeable future. The accounts have therefore been prepared on a going concern basis.

I LOVE NORTH SHIELDS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2025

  • 2. Employees

    2025
    Average number of employees during the period 1

I LOVE NORTH SHIELDS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,031 1,031
Disposals
Revaluations
Transfers
At 30 June 2025 1,031 1,031
Depreciation
Charge for year
On disposals
Other adjustments
At 30 June 2025
Net book value
At 30 June 2025 1,031 1,031

I LOVE NORTH SHIELDS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2025

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

2025
£
Other creditors 500
Total 500

COMMUNITY INTEREST ANNUAL REPORT

I LOVE NORTH SHIELDS CIC

Company Number: 15785600 (England and Wales)

Year Ending: 30 June 2025

Company activities and impact

The company runs I Love North Shields, a community-powered magazine, digital platform, and events initiative celebrating the people, places, and creativity of North Shields. The project began in early 2024 and has since expanded to include a print and online magazine, merchandise line, social media community, and regular cultural events. During the financial year 2024–2025, I Love North Shields’ activities have benefited the community in the following ways: Local storytelling and heritage: Over 14 magazine issues have documented North Shields’ history, culture, and regeneration, sharing stories that would otherwise be lost and increasing civic pride among residents. Community connection: The platform has created a space for residents, creatives, and local businesses to collaborate, connect, and celebrate the town. Engagement has grown to over 20,000 followers across social media, forming one of the largest hyperlocal networks in the region. Employment and volunteering: The initiative has provided paid and voluntary roles for local writers, photographers, and event facilitators, helping residents gain real experience in media, design, and community organising. Support for local business: Through sponsored tote-bag campaigns, business features, and event partnerships, over 60 independent traders and creative entrepreneurs have gained visibility and new customers. Cultural and economic regeneration: I Love North Shields has supported events such as the North Shields 800 Celebrations, Project Nile Street, and the I Love North Shields Love Event, attracting footfall and investment to the town centre. Environmental awareness: Initiatives such as the Tote-Bag Challenge have promoted sustainable fashion and reuse, with branded bags now spotted in over 20 countries, showcasing the town globally. Overall, I Love North Shields CIC has strengthened local identity, boosted creative participation, and demonstrated how a grassroots media platform can drive community regeneration and pride of place.

Consultation with stakeholders

No consultation with stakeholders

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 November 2025

And signed on behalf of the board by:
Name: Simone Harper
Status: Director