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# CORNWALL HOSPITALITY COLLECTIVE CIC

## Company limited by guarantee

## Company Registration Number:
15360454 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2025

## Period of accounts

## Start date: 1 January 2025

## End date: 31 December 2025

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Contents of the Financial Statements

for the Period Ended 31 December 2025

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

# CORNWALL HOSPITALITY COLLECTIVE CIC

Directors' report period ended 31 December 2025

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

Principal activities of the company

The company's principal activity during the year continued to be was activities of business and employers membership organisations.

Directors

The directors shown below have held office during the whole of the period from
1 January 2025 to 31 December 2025

James Cavanagh-Shaddock
Mark Lewin
Veryan Palmer
Eleanor Owen
Nicola Griffiths-Lumb
Tamsyn Gilbert
Louisa Fitzpatrick
Emma Cobble

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
17 July 2026

And signed on behalf of the board by:
Name: James Cavanagh-Shaddock
Status: Director

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Profit And Loss Account

for the Period Ended 31 December 2025

| 2025 | 2024
--- | --- | ---
| £ | £
Turnover: | 53,784 | 6,825
Cost of sales: | ( 12,262 ) | ( 9,049 )
Gross profit(or loss): | 41,522 | (2,224)
Distribution costs: | 0 | 0
Administrative expenses: | ( 53,205 ) | ( 52,898 )
Other operating income: | 22,357 | 54,700
Operating profit(or loss): | 10,674 | (422)
Interest payable and similar charges: | ( 19 ) |
Profit(or loss) before tax: | 10,655 | (422)
Tax: | 1,796 | ( 3,673 )
Profit(or loss) for the financial year: | 12,451 | (4,095)

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Balance sheet

As at 31 December 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 3,401 | 3,048
Total fixed assets: |  | 3,401 | 3,048
Current assets
Debtors: | 4 | 5,540 | 487
Cash at bank and in hand: |  | 15,695 | 17,311
Total current assets: |  | 21,235 | 17,798
Creditors: amounts falling due within one year: | 5 | ( 15,701 ) | ( 24,362 )
Net current assets (liabilities): |  | 5,534 | (6,564)
Total assets less current liabilities: |  | 8,935 | ( 3,516)
Provision for liabilities: |  | ( 579 ) | ( 579 )
Total net assets (liabilities): |  | 8,356 | (4,095)
Members' funds
Profit and loss account: |  | 8,356 | ( 4,095)
Total members' funds: |  | 8,356 | (4,095)

The notes form part of these financial statements

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Balance sheet statements

For the year ending 31 December 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 17 July 2026
and signed on behalf of the board by:

Name: James Cavanagh-Shaddock
Status: Director

The notes form part of these financial statements

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Notes to the Financial Statements

for the Period Ended 31 December 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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: Plant and machinery: 25% reducing balance

  Other accounting policies

  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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2025

- ## 2. Employees

  | 2025 | 2024
  --- | --- | ---
  Average number of employees during the period | 1 | 1

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 3. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 January 2025 |  | 4,064 |  |  |  | 4,064
Additions |  | 1,115 |  |  |  | 1,115
Disposals |  |  |  |  |  |
Revaluations |  |  |  |  |  |
Transfers |  |  |  |  |  |
At 31 December 2025 |  | 5,179 |  |  |  | 5,179
Depreciation |  |  |  |  |  |
At 1 January 2025 |  | 1,016 |  |  |  | 1,016
Charge for year |  | 762 |  |  |  | 762
On disposals |  |  |  |  |  |
Other adjustments |  |  |  |  |  |
At 31 December 2025 |  | 1,778 |  |  |  | 1,778
Net book value |  |  |  |  |  |
At 31 December 2025 |  | 3,401 |  |  |  | 3,401
At 31 December 2024 |  | 3,048 |  |  |  | 3,048

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 4. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 5,540 | 45
Other debtors |  | 442
Total | 5,540 | 487

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

# CORNWALL HOSPITALITY COLLECTIVE CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 5. Creditors: amounts falling due within one year note

| 2025 | 2024
--- | --- | ---
| £ | £
Taxation and social security | 1,885 | 3,094
Other creditors | 13,816 | 21,268
Total | 15,701 | 24,362

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.

# COMMUNITY INTEREST ANNUAL REPORT

### CORNWALL HOSPITALITY COLLECTIVE CIC

### Company Number: 15360454 (England and Wales)

### Year Ending: 31 December 2025

Company activities and impact

The Collective has delivered various engagements with young people throughout the year, utilising funding and member contributions to showcase careers in hospitality and provide employability skills to a variety of young people from different backgrounds – particularly focusing on young people who are NEET or at risk of NEET, have special education needs or a disability, and are struggling with anxiety or confidence. These engagements have allowed hospitality businesses to engage and work with young people to provide them with transferrable employability skills, work placements or opportunities and give them self confidence in their abilities and futures. These activities have prevented young people from becoming NEET and encouraged those in households of generational unemployment to consider careers in the future, and how prosperous these careers can be. The Collective has seen positive outcomes from all of its activities including a 15 to 90% increase in the number of young people considering a career in hospitality, this ensures there will be more employable staff in the hospitality sector which is the third largest sector in Cornwall, accounting for 1 in 5 jobs in Cornwall. Additionally, 38 of the 40 young people who have been supported on the Collective Cafe programme – developed and delivered by CHC – have had improvements in their behaviour, performance and attendance at school following their time on the programme. The Collective also delivered activities for young people in or leaving care to support their transition, give them confidence and new employability skills. In addition to our work with young people, the Collective has supported hospitality businesses with steering groups (following the liquidation of Visit Cornwall) to support in the building of a new DMO. The Collective has also provided training for hospitality businesses to upskill them in a variety of ways to improve workplaces through HR and managerial training, improve customer service and showcase hospitality a profession with clear progression pathways.

Consultation with stakeholders

The company stakeholders are our members and partners but would also include anyone who has used our services such as schools and education organisations. We consistently ask for feedback following the delivery of any training, workshops or activities to understand the impact it has had and how – if at all – anything can be improved. We gather member feedback for training and the overall support/membership annually to understand what members need support with, are struggling with and what is going well. This is covered in a survey and at our Members Conference. Schools are consulted on how they found activities that we deliver and are often collaborating on developing the activity, or how the activity will run as they understand their student needs best. All feedback is discussed internally, by the Directors, and any improvements are determined and then put into action.

Directors' remuneration

£8417.62

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
17 July 2026

And signed on behalf of the board by:
Name: James Cavanagh-Shaddock
Status: Director