CIRCLE SCOTLAND C.I.C.
CIRCLE SCOTLAND C.I.C.
CIRCLE SCOTLAND C.I.C.
Company limited by guarantee
Company Registration Number:
SC515218 (Scotland)
Unaudited statutory accounts for the year ended 31 December 2019
Period of accounts
Start date: 1 January 2019
End date: 31 December 2019
CIRCLE SCOTLAND C.I.C.
Contents of the Financial Statements
for the Period Ended 31 December 2019
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
CIRCLE SCOTLAND C.I.C.
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2019
Directors
The directors shown below have held office during the whole of the period from
1 January 2019 to 31 December 2019
The director shown below has held office during the period of
1 January 2019 to 30 July 2019
The directors shown below have held office during the period of
24 September 2019 to 31 December 2019
The director shown below has held office during the period of
6 January 2019 to 30 July 2019
Secretary
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
CIRCLE SCOTLAND C.I.C.
Profit And Loss Account
for the Period Ended
| 2019 | 2018 | |
|---|---|---|
| | £ | £ |
| Turnover: | | |
| Cost of sales: | ( | ( |
| Gross profit(or loss): | | |
| Distribution costs: | | |
| Administrative expenses: | ( | ( |
| Operating profit(or loss): | | ( |
| Interest payable and similar charges: | ( | ( |
| Profit(or loss) before tax: | | ( |
| Profit(or loss) for the financial year: | | ( |
CIRCLE SCOTLAND C.I.C.
Balance sheet
As at
| Notes | 2019 | 2018 | |
|---|---|---|---|
| | £ | £ | |
| Fixed assets | |||
| Intangible assets: | 3 | | |
| Tangible assets: | 4 | | |
| Total fixed assets: | | | |
| Current assets | |||
| Debtors: | 5 | | |
| Cash at bank and in hand: | | | |
| Total current assets: | | | |
| Creditors: amounts falling due within one year: | 6 | ( | ( |
| Net current assets (liabilities): | ( | | |
| Total assets less current liabilities: | | | |
| Creditors: amounts falling due after more than one year: | 7 | ( | ( |
| Total net assets (liabilities): | ( | ( | |
| Members' funds | |||
| Profit and loss account: | ( | ( | |
| Total members' funds: | ( | ( |
The notes form part of these financial statements
CIRCLE SCOTLAND C.I.C.
Balance sheet 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
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
-
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 addedtaxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reducedfor estimated customer returns, rebates and other similar allowances. Tangible fixed assets depreciation policy
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value,over their expected useful lives on the following bases:Fixtures & Fittings 25% Reducing BalanceComputer Equipment 33% Straight Line Intangible fixed assets amortisation policy
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable netassets. It is amortised to income and expenditure account over its estimated economic life of 10 years. Other accounting policies
Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stageof completion of a contract is measured by comparing the costs incurred for work performed to date to the totalestimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of acontract cannot be estimated reliably.
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
-
2. Employees
2019 2018 Average number of employees during the period 10 4
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
3. Intangible assets
| Goodwill | Other | Total | |
|---|---|---|---|
| Cost | £ | £ | £ |
| At 1 January 2019 | | | |
| Additions | | | |
| Disposals | |||
| Revaluations | |||
| Transfers | |||
| At 31 December 2019 | | | |
| Amortisation | |||
| At 1 January 2019 | | | |
| Charge for year | | | |
| On disposals | | | |
| Other adjustments | | | |
| At 31 December 2019 | | | |
| Net book value | |||
| At 31 December 2019 | | | |
| At 31 December 2018 | | |
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
4. Tangible assets
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
|---|---|---|---|---|---|---|
| Cost | £ | £ | £ | £ | £ | £ |
| At 1 January 2019 | | | | |||
| Additions | | | | |||
| Disposals | ||||||
| Revaluations | ||||||
| Transfers | ||||||
| At 31 December 2019 | | | | |||
| Depreciation | ||||||
| At 1 January 2019 | | | | |||
| Charge for year | | | | |||
| On disposals | ||||||
| Other adjustments | ||||||
| At 31 December 2019 | | | | |||
| Net book value | ||||||
| At 31 December 2019 | | | | |||
| At 31 December 2018 | | | |
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
5. Debtors
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Trade debtors | | |
| Prepayments and accrued income | | |
| Other debtors | | |
| Total | | |
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
6. Creditors: amounts falling due within one year note
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts | | |
| Trade creditors | | |
| Taxation and social security | | |
| Accruals and deferred income | | |
| Other creditors | | |
| Total | | |
CIRCLE SCOTLAND C.I.C.
Notes to the Financial Statements
for the Period Ended 31 December 2019
7. Creditors: amounts falling due after more than one year note
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Other creditors | | |
| Total | | |
COMMUNITY INTEREST ANNUAL REPORT
CIRCLE SCOTLAND C.I.C.
Company Number: SC515218 (Scotland)
Year Ending: 31 December 2019
Company activities and impact
Circle Scotland is a vibrant community hub for charities, social enterprises, community groups and socially aware businesses in Dundee and the surrounding area.We provide affordable offices, co-working and community space and affordable meeting and event spaces.Our tenants range from large national charities such as Cornerstone and Barnardo’s to small independent charities and sole traders.We also offer a host of networking opportunities to national charities, social enterprises and community groups and boast a busy calendar of events and room hire bookings, with around 700 visitors every week. In addition to our property services, we offer consultancy and business support to those starting up and developing their organisations.During the year, The Circle introduced another two services, The Circle Cafe and The Circle Academy.The Circle Cafe which is an employability and training programme for looked after young people and care leavers. We joined forces with Barnardo’s works, Dundee City Council and Leisure and Culture Dundee to apply to the Community Lottery Fund for funding to start this project. Together we aim to train young people with varying boundaries into meaningful employment.Over the course of 12 months the young people on the programme will receive support and training in a hospitality environment while being paid the living wage. They will receive a formal qualification as part of their training which will be transferrable into future employment.The Circle Academy is a 12-week programme focused on developing skills and knowledge in the following key areas, mindset, business model, finance, legal, governance, people, social impact, and sustainability through multiple income streams.The Academy is open to anyone wanting to create positive social or environmental change in a sustainable and financially viable way.The programme will provide the tools and building blocks to launch and grow a More Than Profit organisation, alongside one-to-one support, and guidance with industry experts as proposals are formulated and refined.The first cohort of the Academy was successfully launched in September 2019 after almost two years of development.The pilot cohort included candidates from across Scotland at various stages in business.The academy worked with a range of speakers from both the 3rd sector and commercial business, with the aim of bridging the gap between all sectors.We are an anchor organisation for the Resilient Communities programme, holding monthly peer-support and learning meetings for UnLtd award winners.We became an accredited Living wage employer, committing to paying all our employees a minimum of £9 per hour.We partner with local organisations supporting ambitious and far reaching community development ideas, hosting several events for mental awareness week 2019 and Tinnitus aware-ness week.We collaborated with Creative Dundee on Dundee Soup events which has so far distributed over £500 in small grants to community groups.We provide a pathway to the third sector through volunteering, work experience, student placement and internships.Our successes have been recognised both local and nationally, including being named on the NatWest SE100 Index in 2019 .During the year, Circle Scotland has benefited the community in the following ways:-We held several events for training and skills development. We provide rooms to local com-munity groups, charities, social enterprises and business for their events and host many of our own events. We have had weekly lunch clubs, learning lunches with external speakers, free networking events. We have regular mother and baby fitness classes and healthy eating/slimming classes weekly.
Consultation with stakeholders
The company’s stakeholders are individuals, small and medium sized charities, projects, groups, social enterprises, public sector organisations and private sector businesses. We car-ried out market research to identify the needs of the users into the building with regards to the services we offer and the facilities on site that we provide. We continually engage with our stakeholders through, e-newsletters, social media and monthly meetings.In September we ran an open Day where we invited our Stakeholders to share their input to help us form our new strategy.
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
21 September 2020
And signed on behalf of the board by:
Name: Kirsty Thomson
Status: Director