Improving the Donington Environment for - Accounts to registrar (filleted) - small 18.2
Improving the Donington Environment for - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2021 |
for |
Improving the Donington Environment for |
All |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Contents of the Financial Statements |
for the Year Ended 30 June 2021 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 7 |
Improving the Donington Environment for |
All |
Company Information |
for the Year Ended 30 June 2021 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Improving the Donington Environment for |
All |
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 2021 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 loss 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. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Statement of Financial Position |
30 June 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
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. |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Statement of Financial Position - continued |
30 June 2021 |
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 |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
1. | Statutory information |
Improving the Donington Environment for All is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
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. |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
3. | Accounting policies - continued |
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 (2020 - NIL). |
5. | Tangible fixed assets |
Land and | Plant and |
buildings | machinery | Totals |
£ | £ | £ |
Cost |
At 1 July 2020 |
and 30 June 2021 |
Depreciation |
At 1 July 2020 |
Charge for year |
At 30 June 2021 |
Net book value |
At 30 June 2021 |
At 30 June 2020 |
Improving the Donington Environment for |
All (Registered number: 04802717) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade creditors |
Accruals and deferred income |
Accruals and deferred income includes grant income which has been deferred or is unspent amounting to £14,795 (2020 - £25,890). |
8. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Other loans |
Accruals and deferred income |
Accruals and deferred income included grant income which will be released to the Statement of Income after more than five years amounting to £86,737 (2020 - £92,958). |
Accruals and deferred income includes grant income which has been deferred or is unspent amounting to £115,560 (2020 - £125,707). |
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. |