for the Period Ended 31 March 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2020
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
23 March 2019 to 31 March 2020
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2020 | ||
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| £ | |
Turnover: | | |
Gross profit(or loss): | | |
Administrative expenses: | ( | |
Operating profit(or loss): | | |
Profit(or loss) before tax: | | |
Tax: | ( | |
Profit(or loss) for the financial year: | |
As at
Notes | 2020 | ||
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| £ | ||
Current assets | |||
Cash at bank and in hand: | | ||
Total current assets: | | ||
Creditors: amounts falling due within one year: | 3 | ( | |
Net current assets (liabilities): | | ||
Total assets less current liabilities: | | ||
Total net assets (liabilities): | | ||
Members' funds | |||
Profit and loss account: | | ||
Total members' funds: | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2020
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 March 2020
2020 | ||
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Average number of employees during the period | |
for the Period Ended 31 March 2020
2020 | ||
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£ | ||
Taxation and social security | | |
Accruals and deferred income | | |
Total | |
This was the first year of operation. Good governance was established with fortnightly meetings of the board of five founding directors.We established a relationship with Bath & North East Somerset Council with whom we intend to seek community asset transfer of Fairfield House itself. The CIC submitted a formal expression of interest June 2019 (but did not receive a timely reply within this period).We negotiated and agreed a paid partnership with Bath Spa University. This was trialed: Fairfield House offered placements, venue hire and research opportunities to students. One student completed an acquisition and disposal policy for the Museum at the House.We arranged the erection of Bath's first "blue plaque" Sept 2019 to honour the significance of Fairfield House. Our communities of interest attended in considerable numbers.The CIC submitted several grants and donation requests. It received a generous donation from a local charitable trust to use towards the legal costs of community asset tansfer.The CIC researched and drafted a three-year business plan, and developed a project plan.
Fairfield House continued to engage with its key various stakeholders, the groups who determine the life of the house. These are1. Elders of Bath, who are looked after with day care at Fairfield House every week2. Ethiopians and others of African descent who celebrate festivals and anniversaries at Fairfield House3. Rastafari who attend Fairfield House regularly, eg monthly Nyabinghi Sabbath4. Local people of Bath who attend Fairfield House for cultural and heritage open daysThe level of engagement continues to be high, and the CIC is not resourced to deal with any visitors. The only entity with rights at Fairfield House is the charity Bemsca. We manage this as best we can and recognise the engagement will need quickly to become more structured to provide, for example, the documented evidence of community benefit which will be necessary for a community asset transfer process.The CIC did undertake a training day of structured community building with the charity Community Organisers (organised by our volunteer Daniel Edmund). This was inconclusive: it underlined that our communities are considerably more complex and varied than the norm: more diverse, more motivated. Along with progressing the community asset transfer and getting legally protected use of Fairfield House this matter of more structured community engagement remains a key priority.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
30 March 2021
And signed on behalf of the board by:
Name: William Heath
Status: Director