Shrewsbury Community Transport Initiative Limited 31/03/2021 iXBRL
Shrewsbury Community Transport Initiative Limited 31/03/2021 iXBRL
Company registration number:
03274618
COMPANY LIMITED BY GUARANTEE
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
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
COMPANY LIMITED BY GUARANTEE
DIRECTORS AND OTHER INFORMATION
Directors |
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(Appointed 9 December 2020) | ||
Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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Countrywide House | |||
Knights Way | |||
Shrewsbury | |||
Shropshire | |||
SY1 3AB | |||
Bankers |
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P O Box 1 | ||
Pride Hill | ||
Shrewsbury | ||
Shropshire | ||
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 2021
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 2021 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 profit 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.
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
18 October 2021
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2021
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Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves | |||||||||
Profit and loss account |
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Members funds |
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Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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
18 October 2021
, and are signed on behalf of the board by:
Director
Company registration number:
03274618
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2021
Profit and loss account | Total | |||
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At 1 April 2019 |
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Profit/(loss) for the year |
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Total comprehensive income for the year |
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At 31 March 2020 and 1 April 2020 |
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Profit/(loss) for the year |
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Total comprehensive income for the year |
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At 31 March 2021 |
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COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
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
3.
Accounting policies
Basis of preparation
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
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 | - |
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Motor vehicles | - |
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Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
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
(2020:
6
).
6.
Tangible assets
Fixtures, fittings and equipment | Motor vehicles | Total | ||
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Cost | ||||
At 1 April 2020 and 31 March 2021 |
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Depreciation | ||||
At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Carrying amount | ||||
At 31 March 2021 |
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At 31 March 2020 |
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7.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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8.
Creditors: amounts falling due within one year
2021 | 2020 | |||
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Trade creditors |
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Social security and other taxes | - |
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Other creditors |
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