| MBCOL Limited |
| Notes to the Accounts |
| for the year ended 31 March 2020 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts have also been prepared with the Statement of Recommended Practiced (SORP) - "Accounting and Reporting by Charities" issued by the Charity Commissioners in England and Wales. |
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Going concern |
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The company is reliant on funding from the local council to carry out its day to day activities. |
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Following expiry of the contract in September 2019, the local council extended the contract with |
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MBCOL Limited until 31 March 2021. At this stage, the company has not been offered a further |
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time limited contract extension after 31 March 2021. In view of this, material uncertainty exists |
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over the ability of the company to continue its operations. |
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Income |
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Grant income represents amounts received and receivable from Leicester City Council. Donations, interment fees and other income are accounted for when received. |
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Resources expended |
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Resources expended are accounted for as a liability is incurred. Expenditure includes irrecoverable VAT which is reported as part of the expenditure to which it relates. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation. The costs of minor additions or those costing below £3,000 are not capitalised. Depreciation is provided at rates calculated to write off of each asset over its estimated useful life of 4 years. |
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Stocks |
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Stocks are measured at the lower of cost and net realisable value. |
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Funds |
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Funds comprise of unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. The directors use part of the unrestricted funds for various specific projects and have set up a designated fund to reflect this. The funds held in each of the relevant categories are disclosed in the notes to the accounts. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
M I Umar |
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Firm: |
Smith Hannah Limited |
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Date of audit report: |
21 December 2020 |
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| 3 |
Employees |
2020 |
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2019 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 April 2019 |
3,893 |
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At 31 March 2020 |
3,893 |
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Depreciation |
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At 1 April 2019 |
3,893 |
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At 31 March 2020 |
3,893 |
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Net book value |
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At 31 March 2020 |
- |
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| 5 |
Debtors |
2020 |
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2019 |
| £ |
£ |
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Other debtors |
609 |
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590 |
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| 6 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
| £ |
£ |
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Other creditors |
7,610 |
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1,167 |
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| 7 |
Designated Funds |
2020 |
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2019 |
| £ |
£ |
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At 1 April 2019 |
30,797 |
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30,797 |
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At 31 March 2020 |
30,797 |
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30,797 |
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Designated funds comprise :- |
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Multi Faith Bereavement Book Project |
5,500 |
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20th Anniversary Celebration Fund |
5,000 |
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Centralised Services |
20,297 |
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Total |
30,797 |
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| 8 |
General Funds |
2020 |
| £ |
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At 1 April 2019 |
58,853 |
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Deficit for the year |
(1,614) |
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Transfer to designated funds |
- |
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At 31 March 2020 |
57,239 |
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| 8 |
Related party transactions |
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No trustees received any remuneration (2019:£nil). During the year, the company paid rent amounting to £4,500 (2019:£6,000) to A Y Sabat, a trustee, on normal commercial terms in respect of the premises occupied by the company.
During the year, the company paid consultancy fees amounting to £1,000 (2019:£nil) to S Nagdi, a trustee, on commercial terms. |
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| 9 |
Other information |
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MBCOL Limited is a private company limited by guarantee and incorporated in England. Its registered office is: |
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50 Woodgate |
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Leicester |
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LE3 5GF |
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The principal place of operation is: |
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1A Moat Road |
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Leicester |
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LE5 5EF |
