FAL FISHERY COOPERATIVE C.I.C.
FAL FISHERY COOPERATIVE C.I.C.
FAL FISHERY COOPERATIVE C.I.C.
Company limited by guarantee
Company Registration Number:
11915357 (England and Wales)
Unaudited statutory accounts for the year ended 30 April 2020
Period of accounts
Start date: 30 March 2019
End date: 30 April 2020
FAL FISHERY COOPERATIVE C.I.C.
Contents of the Financial Statements
for the Period Ended 30 April 2020
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
FAL FISHERY COOPERATIVE C.I.C.
Profit And Loss Account
for the Period Ended
13 months to 30 April 2020 | ||
---|---|---|
| £ | |
Turnover: | | |
Cost of sales: | ( | |
Gross profit(or loss): | ( | |
Administrative expenses: | ( | |
Other operating income: | | |
Operating profit(or loss): | | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | ( | |
Profit(or loss) before tax: | | |
Tax: | ( | |
Profit(or loss) for the financial year: | |
FAL FISHERY COOPERATIVE C.I.C.
Balance sheet
As at
Notes | 13 months to 30 April 2020 | ||
---|---|---|---|
| £ | ||
Current assets | |||
Debtors: | 3 | | |
Cash at bank and in hand: | | ||
Total current assets: | | ||
Creditors: amounts falling due within one year: | 4 | ( | |
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
FAL FISHERY COOPERATIVE 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
FAL FISHERY COOPERATIVE C.I.C.
Notes to the Financial Statements
for the Period Ended 30 April 2020
-
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. Other accounting policies
DebtorsShort 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.CreditorsShort 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.TaxationA 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.
FAL FISHERY COOPERATIVE C.I.C.
Notes to the Financial Statements
for the Period Ended 30 April 2020
-
2. Employees
13 months to 30 April 2020 Average number of employees during the period 2
FAL FISHERY COOPERATIVE C.I.C.
Notes to the Financial Statements
for the Period Ended 30 April 2020
3. Debtors
13 months to 30 April 2020 | ||
---|---|---|
£ | ||
Other debtors | | |
Total | |
FAL FISHERY COOPERATIVE C.I.C.
Notes to the Financial Statements
for the Period Ended 30 April 2020
4. Creditors: amounts falling due within one year note
13 months to 30 April 2020 | ||
---|---|---|
£ | ||
Trade creditors | | |
Taxation and social security | | |
Other creditors | | |
Total | |
COMMUNITY INTEREST ANNUAL REPORT
FAL FISHERY COOPERATIVE C.I.C.
Company Number: 11915357 (England and Wales)
Year Ending: 30 April 2020
Initial fundraising and set up has been successfully completed, with the target of £8755 plus £385 reached via Crowdfunder in March 2020. The Lockdown did delay the build of the micro hatchery by a few months, but it was up and running by June 2020.
Meeting held 30th January 2020A micro hatchery was confirmed as a good idea to trial larvae population from wild stocks of Native OystersAn aquaculture research site was confirmed as important in order to provide storage facility for licensed oyster gatherers an merchantsFunding was a key factor in the success for the hatchery and aquaculture siteThe next meeting to be held in the autumn ahead of the start of the season, when the hatchery trials had been proven and the aquaculture site secured
The director & company secretary was due a total of £19,163 for the 19 months from initial concept to forming the CIC up to 30/04/2020, but only £1,163 was actually paid and £18,000 was donated in kind to the CIC.The Non Executive Director was due £279 as at 30/04/2020 but this to was donated in kind.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
19 August 2020
And signed on behalf of the board by:
Name: Christopher J Ranger
Status: Director