Cambridgeshire Community Reuse and Recycling Network Ltd Filleted accounts for Companies House (small and micro)

Cambridgeshire Community Reuse and Recycling Network Ltd Filleted accounts for Companies House (small and micro)

CAMBRIDGESHIRE COMMUNITY REUSE AND RECYCLING NETWORK LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05370849
Cambridgeshire Community Reuse and Recycling Network Ltd
Company Limited by Guarantee
Filleted Unaudited Financial Statements
For the year ended
5 April 2020
Cambridgeshire Community Reuse and Recycling Network Ltd
Company Limited by Guarantee
Statement of Financial Position
5 April 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
6
1,280
5,810
Current assets
Stocks
7,272
9,069
Debtors
7
14,310
25,185
Cash at bank and in hand
17,676
28,800
--------
--------
39,258
63,054
Creditors: amounts falling due within one year
8
15,887
26,142
--------
--------
Net current assets
23,371
36,912
--------
--------
Total assets less current liabilities
24,651
42,722
--------
--------
Net assets
24,651
42,722
--------
--------
Capital and reserves
Profit and loss account
24,651
42,722
--------
--------
Members funds
24,651
42,722
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 5 April 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 .
Cambridgeshire Community Reuse and Recycling Network Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
5 April 2020
These financial statements were approved by the board of directors and authorised for issue on 24 June 2021 , and are signed on behalf of the board by:
Mr M Pheasant
Mrs L N Digiovanni
Director
Director
Company registration number: 05370849
Cambridgeshire Community Reuse and Recycling Network Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 5 April 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 Ccorrn, 3 Commercial Road, March, Cambridgeshire, PE15 8QP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
During the year, and since the reporting date, the UK has experienced a pandemic of the coronavirus. The potential effects to the company and its future prospects cannot be fully quantified but the directors remain committed to the protection of the business. This is being regularly reviewed by the directors. In addition, the directors are mindful of the significant ongoing support being offered by the Government. Accordingly, the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Grants
Grants which relate to revenue are recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate. For grants which are received by the entity for compensation for expenses or losses which have already been incurred, the grant is recognised in income when it is received or receivable.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined pension 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.
4. Company limited by guarantee
The company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute to the assets of the company such amounts as may be required, with a maximum contribution of £1 per member.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2019: 6 ).
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 6 April 2019 and 5 April 2020
6,008
1,400
2,493
9,901
-------
-------
-------
-------
Depreciation
At 6 April 2019
1,878
838
1,375
4,091
Charge for the year
38
140
373
551
Impairment losses
3,979
–
–
3,979
-------
-------
-------
-------
At 5 April 2020
5,895
978
1,748
8,621
-------
-------
-------
-------
Carrying amount
At 5 April 2020
113
422
745
1,280
-------
-------
-------
-------
At 5 April 2019
4,130
562
1,118
5,810
-------
-------
-------
-------
7. Debtors
2020
2019
£
£
Trade debtors
9,393
20,268
Other debtors
4,917
4,917
--------
--------
14,310
25,185
--------
--------
8. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
1,679
195
Social security and other taxes
7,682
15,211
Pension contributions
617
510
Other creditors
5,909
10,226
--------
--------
15,887
26,142
--------
--------