Contents of the Financial Statements

for the Period Ended 31 October 2025

Balance sheet

As at 31 October 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 October 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.

The directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 October 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 for goods and services provided in the normal course of business, net of discounts, rebates, and Value Added Tax. Revenue is recognized as follows: Sale of Goods: Revenue from the sale of goods is recognized when the significant risks and rewards of ownership have transferred to the buyer. Rendering of Services: Revenue from service or contract delivery is recognized by reference to the stage of completion of the transaction at the reporting date, based on the actual services provided as a proportion of the total services to be provided. Grants and Performance-Related Income: Grants toward revenue expenditure are recognized in the income statement over the period necessary to match them with the related costs they are intended to compensate. Where grants are subject to specific performance conditions, they are deferred and recognized only when the performance criteria are fully met.

  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 life, as follows computer and studio equipment over 5 years

  Other accounting policies

  Debtors Policy Ensures steady cash flow to fund social goals by tracking and collecting outstanding invoices. The core elements include: Strict Terms: Standard 30-day payment windows with clear invoicing details. Escalation Path: Friendly reminders at 31 days, formal warnings at 45 days, and account suspension at 56 days. Bad Debt Safeguards: Board approval required to write off uncollectible debts in the accounting system. Creditors Policy manages outgoing cash flow by establishing clear timelines and authorizations for paying suppliers, ensuring the CIC protects its operating capital and maintains strong vendor relationships. The core elements include: Payment Terms: Settlement of valid supplier invoices within 30 days of receipt (or standard vendor terms) to optimize cash retention. Authorisation Limits: Strict controls matching invoice totals to approved management tiers prior to payment run execution. Dispute Resolution: Immediate withholding of disputed amounts, with the undisputed balance paid to maintain supplier goodwill. Taxation ensures compliance with HMRC rules while optimizing the company's unique social enterprise tax position. The core elements include: Corporation Tax: Paying standard Corporation Tax on trading profits and investment income, while ensuring all legitimate business expenses are deducted. CIC Subsidies & Grants: Ensuring non-repayable grant income is correctly categorized as non-trading income to mitigate unnecessary tax liabilities. VAT & Social Exemptions: Monitoring the VAT registration threshold and leveraging specific VAT exemptions for community, health, or welfare services where applicable. Provisions Sets aside funds for known future liabilities or losses where the exact amount or timing is uncertain, ensuring the company does not overstate its financial health. The core elements include: Recognition Criteria: Provisions are only made when a present obligation exists from a past event, a payout is probable, and the amount can be reliably estimated. Common CIC Allocations: Setting aside specific reserves for asset decommissioning, redundancy costs, or contractual grant clawbacks if performance targets are missed. Review & Adjustment: Re-evaluating all provisions at every balance sheet date to increase, decrease, or release them based on the latest estimates. Leased Assets governs how the company accounts for rented property and equipment (like office space, vehicles, or IT hardware) to accurately reflect long-term financial commitments. The core elements include: FRC 102 / IFRS 16 Compliance: Categorising leases properly (typically recognizing a Right-of-Use Asset and a corresponding lease liability on the balance sheet for material agreements). Social Asset Care: Ensuring leased community hubs or operational assets are maintained according to contract terms to avoid lease-end penalties. Depreciation & Finance Costs: Straight-line depreciation of the leased asset over the shorter of the lease term or its useful economic life.

Notes to the Financial Statements

for the Period Ended 31 October 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	0	0