Improving the Donington Environment for - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04802717 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

Improving the Donington Environment for

All

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

7

Directors:

C M Delf

D J Hawkins

J L King

P J Lorimer

G L Lunn

B W Robinson

F Tubb

M A Wright

S C Wright

Registered office:

Security House

High Street

Donington

Spalding

Lincolnshire

PE11 4TA

Registered number:

04802717 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Improving the Donington Environment for All for the year ended 30 June 2020 which comprise the Statement of income and retained earnings, Statement of financial position and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Improving the Donington Environment for All, as a body, in accordance with the terms of our engagement letter dated 21 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Improving the Donington Environment for All and state those matters that we have agreed to state to the Board of Directors of Improving the Donington Environment for All, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Improving the Donington Environment for All and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Improving the Donington Environment for All 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 profit of Improving the Donington Environment for All. You consider that Improving the Donington Environment for All 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 Improving the Donington Environment for All. 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.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

1 February 2021

Fixed assets

Tangible assets

5

157,678

166,344

Current assets

Debtors

6

100

860

Cash at bank

18,745

3,793

18,845

4,653

Creditors

Amounts falling due within one year

7

27,276

14,588

Net current liabilities

(8,431

)

(9,935

)

Total assets less current liabilities

149,247

156,409

Creditors

Amounts falling due after more than one year

8

129,707

139,898

Net assets

19,540

16,511

Reserves

Income and expenditure account

19,540

16,511

19,540

16,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2021 and were signed on its behalf by:

G L Lunn - Director

D J Hawkins - Director

1.	Statutory information

Improving the Donington Environment for All is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Income is recognised in the Statement of Income depending upon the type of income receivable. All incomes are stated including any irrecoverable Value Added Tax.

Grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Income from events and lotteries are recognised in the Statement of Income on the date of the event.

Advertising income is measured at the fair value of the consideration received or receivable for advertising provided.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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:

Land and buildings

-

Park development 2% to 10% straight line

Plant and machinery

-

25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4.	Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

5.	Tangible fixed assets

Land and

Plant and

buildings

machinery

Totals

£

£

£

Cost

At 1 July 2019

327,679

10,697

338,376

Additions

-

4,550

4,550

At 30 June 2020

327,679

15,247

342,926

Depreciation

At 1 July 2019

162,405

9,627

172,032

Charge for year

11,810

1,406

13,216

At 30 June 2020

174,215

11,033

185,248

Net book value

At 30 June 2020

153,464

4,214

157,678

At 30 June 2019

165,274

1,070

166,344

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Other debtors

100

860

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Accruals and deferred income

27,276

14,588

Accruals and deferred income includes grant income which has been deferred or is unspent amounting to £10,950 (2019 - £12,774).

8.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Other loans

4,000

4,000

Accruals and deferred income

125,707

135,898

129,707

139,898

Accruals and deferred income included grant income which will be released to the Statement of Income after more than five years amounting to £99,193 (2019 - £105,448).

Accruals and deferred income includes grant income which has been deferred or is unspent amounting to £135,898 (2019 - £146,149).

9.	Company limited by guarantee

The company is limited by guarantee. Each elected member (that is, excluding nominated by the Parish Council) guarantees to make a contribution of £1 in the event of a winding up. There are currently 9 members.