Shrewsbury Community Transport Initiative Limited 31/03/2020 iXBRL

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED - Company Information

31/03/2020 2020-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2019-04-01 Sage Accounts Production 19.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 03274618 2019-04-01 2020-03-31 03274618 2020-03-31 03274618 2019-03-31 03274618 2018-04-01 2019-03-31 03274618 2019-03-31 03274618 2018-03-31 03274618 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 03274618 core:MotorVehicles 2019-04-01 2020-03-31 03274618 bus:RegisteredOffice 2019-04-01 2020-03-31 03274618 bus:LeadAgentIfApplicable 2019-04-01 2020-03-31 03274618 bus:Director1 2019-04-01 2020-03-31 03274618 bus:Director2 2019-04-01 2020-03-31 03274618 bus:Director3 2019-04-01 2020-03-31 03274618 bus:Director4 2019-04-01 2020-03-31 03274618 bus:Director5 2019-04-01 2020-03-31 03274618 bus:CompanySecretary1 2019-04-01 2020-03-31 03274618 core:FurnitureFittingsToolsEquipment 2019-03-31 03274618 core:MotorVehicles 2019-03-31 03274618 core:FurnitureFittingsToolsEquipment 2020-03-31 03274618 core:MotorVehicles 2020-03-31 03274618 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 03274618 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 03274618 core:WithinOneYear 2020-03-31 03274618 core:WithinOneYear 2019-03-31 03274618 core:RetainedEarningsAccumulatedLosses 2020-03-31 03274618 core:RetainedEarningsAccumulatedLosses 2019-03-31 03274618 core:RetainedEarningsAccumulatedLosses 2018-03-31 03274618 core:FurnitureFittingsToolsEquipment 2019-03-31 03274618 core:MotorVehicles 2019-03-31 03274618 bus:SmallEntities 2019-04-01 2020-03-31 03274618 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 03274618 bus:FullAccounts 2019-04-01 2020-03-31 03274618 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 03274618 bus:CompanyLimitedByGuarantee 2019-04-01 2020-03-31

Company registration number: 03274618

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

31 March 2020

HEYWOODS

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

DIRECTORS AND OTHER INFORMATION


Directors	Mr V T Bushell
	Mr M P Waller
	Mrs M C Rayner
	Mr C J Fryer
	Mr A V B Evans	(Appointed 9 December 2019)


Secretary	Mr A Nelson


Company number	03274618


Registered office	Unit 7, Sundorne Trade Park
	Shrewsbury
	Shropshire
	SY1 4NS


Business address	Unit 7, Sundorne Trade Park
	Shrewsbury
	Shropshire
	SY1 4NS


Accountants	Heywoods
	Countrywide House
	Knights Way
	Shrewsbury
	Shropshire
	SY1 3AB




	Bankers	Lloyds plc
		P O Box 1
		Pride Hill
		Shrewsbury
		Shropshire

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

YEAR ENDED 31 MARCH 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shrewsbury Community Transport Initiative Limited for the year ended 31 March 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Shrewsbury Community Transport Initiative Limited, as a body, in accordance with the terms of our engagement letter dated 6 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Shrewsbury Community Transport Initiative Limited and state those matters that we have agreed to state to the board of directors of Shrewsbury Community Transport Initiative Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shrewsbury Community Transport Initiative Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Shrewsbury Community Transport Initiative Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Shrewsbury Community Transport Initiative Limited. You consider that Shrewsbury Community Transport Initiative Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shrewsbury Community Transport Initiative Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Heywoods

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

15 October 2020

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 MARCH 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Tangible assets	6	57,538		76,717
		_______		_______
			57,538		76,717

Current assets
Debtors	7	24,102		29,947
Cash at bank and in hand		109,039		91,125
		_______		_______
		133,141		121,072
Creditors: amounts falling due
within one year	8	( 7,378)		( 9,673)
		_______		_______
Net current assets			125,763		111,399
			_______		_______
Total assets less current liabilities			183,301		188,116

			_______		_______
Net assets			183,301		188,116
			_______		_______

Capital and reserves
Profit and loss account			183,301		188,116
			_______		_______
Members funds			183,301		188,116
			_______		_______

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 October 2020 , and are signed on behalf of the board by:

Mr V T Bushell

Director

Company registration number: 03274618

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 MARCH 2020

	Profit and loss account	Total
	£	£


At 1 April 2018	202,309	202,309

Loss for the year	( 14,193)	( 14,193)
	_______	_______
Total comprehensive income for the year	( 14,193)	( 14,193)

	_______	_______
At 31 March 2019 and 1 April 2019	188,116	188,116

Loss for the year	( 4,815)	( 4,815)
	_______	_______
Total comprehensive income for the year	( 4,815)	( 4,815)

	_______	_______
At 31 March 2020	183,301	183,301
	_______	_______

SHREWSBURY COMMUNITY TRANSPORT INITIATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2020

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 7, Sundorne Trade Park, Shrewsbury, Shropshire, SY1 4NS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Public Benefit Entity

The company is a Public Benefit Entity providing transport for the local community.

4. Limited by guarantee

The company is limited by guarantee.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2019: 6 ).

6. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2019 and 31 March 2020	11,348	239,250	250,598
	_______	_______	_______
Depreciation
At 1 April 2019	9,964	163,917	173,881
Charge for the year	346	18,833	19,179
	_______	_______	_______
At 31 March 2020	10,310	182,750	193,060
	_______	_______	_______
Carrying amount
At 31 March 2020	1,038	56,500	57,538
	_______	_______	_______
At 31 March 2019	1,384	75,333	76,717
	_______	_______	_______

7. Debtors

	2020	2019
	£	£
Trade debtors	6,343	6,849
Other debtors	17,759	23,098
	_______	_______
	24,102	29,947
	_______	_______

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	2,017	4,178
Social security and other taxes	1,369	3,005
Other creditors	3,992	2,490
	_______	_______
	7,378	9,673
	_______	_______