Sussex Community Internet Project - Accounts to registrar (filleted) - small 22.3
Sussex Community Internet Project - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 |
| FOR |
| SUSSEX COMMUNITY INTERNET PROJECT |
| SUSSEX COMMUNITY INTERNET PROJECT (REGISTERED NUMBER: 03819836) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| SUSSEX COMMUNITY INTERNET PROJECT |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 44 Grand Parade |
| Brighton |
| East Sussex |
| BN2 9QA |
| SUSSEX COMMUNITY INTERNET PROJECT (REGISTERED NUMBER: 03819836) |
| BALANCE SHEET |
| 31ST MARCH 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| RESERVES |
| Income and expenditure account | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SUSSEX COMMUNITY INTERNET PROJECT (REGISTERED NUMBER: 03819836) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Sussex Community Internet Project is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have reviewed the basis of the preparation of the financial statements on a going concern basis in view of the deficit of assets over liabilities at the Balance Sheet date. The directors are proactively in the process of addressing the position regarding the major creditors of the company. In the summer of 2020 they conducted a review of the systems for the debtors and creditors ledgers with the help of external advice and implemented improvements accordingly. The management accounts for the year ending 31st March 2023, at the date of signing this document, continue to show a further significant decrease in total creditors. The directors are involved in negotiations with the remaining creditors the outcome of which will determine the going concern status of the company. Accordingly the directors consider that the going concern basis of preparation is appropriate. |
| Turnover |
| Turnover represents a combination of different types of income received from a number of not-for-profit organisations, and grant making bodies. This income takes the form of grants to provide specific services or towards general support of our costs, or payment in the form of a contract for services provided. The company uses both paid and voluntary support to carry out its services. Where grants and similar income are for time based projects, or have been paid in advance in any way, the appropriate amount of income has been carried forward within the deferred income account. Income will be credited to the profit and loss account from the deferred income account in line with the associated relevant costs, or on a time basis, as is most appropriate. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Where items of plant and equipment of a capital nature are purchased for use by the company, they are capitalised and written off against income on the basis of the appropriate depreciation policy. |
| Where equipment has been donated free of charge to the company, and there is no associated original cost to the company, such items are not capitalised. During the current year, there were no items donated to the company. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| SUSSEX COMMUNITY INTERNET PROJECT (REGISTERED NUMBER: 03819836) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a company pension scheme in accordance with it's statutory obligations under auto enrolment. It is the company's policy to offer to pay a contribution of 3% of employee's salaries into the company pension. Contributions payable in the year are charged in the profit and loss account. |
| Taxation |
| H M Revenue and Customs has advised the company that it does not come within the charge to trading income (Schedule D, Case 1) as it is not considered trading for corporation tax purposes. Corporation tax is chargeable on its investment income. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2021 |
| Disposals | ( |
) |
| At 31st March 2022 |
| DEPRECIATION |
| At 1st April 2021 |
| Eliminated on disposal | ( |
) |
| At 31st March 2022 |
| NET BOOK VALUE |
| At 31st March 2022 |
| SUSSEX COMMUNITY INTERNET PROJECT (REGISTERED NUMBER: 03819836) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| SUSSEX COMMUNITY INTERNET PROJECT |
| 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 Balance Sheet. 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 Sussex Community Internet Project for the year ended 31st March 2022 which comprise the Income Statement, Balance Sheet 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 Sussex Community Internet Project, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sussex Community Internet Project and state those matters that we have agreed to state to the Board of Directors of Sussex Community Internet Project, 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 Sussex Community Internet Project and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Sussex Community Internet Project 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 Sussex Community Internet Project. You consider that Sussex Community Internet Project 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 Sussex Community Internet Project. 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. |
| Chartered Accountants |
| 44 Grand Parade |
| Brighton |
| East Sussex |
| BN2 9QA |