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 2021
Cambridgeshire Community Reuse and Recycling Network Ltd
Company Limited by Guarantee
Statement of Financial Position
5 April 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
6
8,471
1,280
Current assets
Stocks
15,845
7,272
Debtors
7
15,384
14,310
Cash at bank and in hand
57,598
17,676
--------
--------
88,827
39,258
Creditors: amounts falling due within one year
8
17,889
15,887
--------
--------
Net current assets
70,938
23,371
--------
--------
Total assets less current liabilities
79,409
24,651
--------
--------
Net assets
79,409
24,651
--------
--------
Capital and reserves
Profit and loss account
79,409
24,651
--------
--------
Members funds
79,409
24,651
--------
--------
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 2021 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 2021
These financial statements were approved by the board of directors and authorised for issue on 31 March 2022 , 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 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 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. 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.
Grant income
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.
Government support grants
Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 9 (2020: 8 ).
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 6 April 2020
6,008
1,400
2,493
9,901
Additions
–
7,845
633
8,478
-------
-------
-------
--------
At 5 April 2021
6,008
9,245
3,126
18,379
-------
-------
-------
--------
Depreciation
At 6 April 2020
5,895
978
1,748
8,621
Charge for the year
28
923
336
1,287
-------
-------
-------
--------
At 5 April 2021
5,923
1,901
2,084
9,908
-------
-------
-------
--------
Carrying amount
At 5 April 2021
85
7,344
1,042
8,471
-------
-------
-------
--------
At 5 April 2020
113
422
745
1,280
-------
-------
-------
--------
7. Debtors
2021
2020
£
£
Trade debtors
10,467
9,393
Other debtors
4,917
4,917
--------
--------
15,384
14,310
--------
--------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
–
1,679
Social security and other taxes
7,831
7,682
Pension contributions
599
617
Other creditors
9,459
5,909
--------
--------
17,889
15,887
--------
--------