Moray Local Cic

Moray Local CIC is a small, active Community Interest Company based in Forres, UK, established four years ago in May 2020. With a real address and four directors, including Hindley Mark as the owner, the company employs just one person and holds £178 in assets. It’s a modest operation, meeting two of three conditions to be considered small: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees.

The company operates a network of online platforms and media projects designed to benefit the local community. It runs several websites, including Forres Local, Visit Forres, Inside Moray, and We Heart Moray, providing information, news, and listings for the town and wider Moray area. They also have a smartphone app, merchandise sales, and a Facebook group supporting local businesses. A newer venture, Screen Moray, aims to make Moray film-friendly. They even won a Digital Communities Award in 2023!

Financially, Moray Local CIC is showing some concerning trends. Cash reserves have plummeted 65%, dropping from £510 to just £180. Net assets have also declined, although less dramatically, falling 65% to £900. While creditors have decreased significantly, from £2,400 to zero, this may be a one-off event rather than a sign of financial health. Bank borrowings are also at zero. The company’s small size means it’s exempt from an audit, so the figures are unaudited. It's worth noting that the company’s equity has increased by 75%, which is a positive sign, but the sharp decline in cash flow warrants attention.

The company’s reliance on advertising and sponsorship opportunities suggests it’s vulnerable to economic fluctuations. While its community-focused mission is admirable, the financial data indicates a need for careful management and perhaps a re-evaluation of its revenue streams.

Registered in Scotland under the registration number SC661634, with a registered address at IV36 1NX, Scotland, Forres, 98 High Street High Street.

WARNING: The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.
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