Saltend Community Development Company Li - Accounts to registrar (filleted) - small 18.2
Saltend Community Development Company Li - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Saltend Community Development Company |
Limited |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2021 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Saltend Community Development Company |
Limited |
COMPANY INFORMATION |
for the year ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
9 Market Place |
Hedon |
East Yorkshire |
HU12 8JA |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
BALANCE SHEET |
31 December 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation Reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
BALANCE SHEET - continued |
31 December 2021 |
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 profit or loss 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 Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Saltend Community Development Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable in respect of sales of services excluding discounts, rebates, value added tax and other sales taxes and interest receivable on the client loan balance. |
Amounts received from external funders towards the company's Loan Fund are to be recognised when receivable and are shown within 'Other Operating Income' in the Profit and Loss account. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Government grants |
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as income in the profit and loss account in the period they are receivable. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Bad debts |
Outstanding loans are recognised as bad debts if there has been no repayment of the loan in the 12 months prior to the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Cost or valuation at 31 December 2021 is represented by: |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2019 | 70,731 | - | - | 70,731 |
Cost | 49,269 | 28,828 | 46,327 | 124,424 |
120,000 | 28,828 | 46,327 | 195,155 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2021 | 2020 |
£ | £ |
Cost | 49,269 | 49,269 |
Value of land in freehold land and buildings | 120,000 | 120,000 |
Freehold Property was valued on an open market basis on 31 December 2021 by the Directors . |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 1 January 2021 |
and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
Trade debtors includes an amount of £241,095 which is due after one year. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Finance leases |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Finance leases |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 1,895 |
8. | RESERVES |
Revaluation |
Reserve |
£ |
At 1 January 2021 |
and 31 December 2021 |
9. | RELATED PARTY DISCLOSURES |
The company made payments totalling £4,530 to Antony Rookes Limited for accountancy and management services in the year. Antony Rookes is a director and shareholder of Antony Rookes Limited t/a Southgates Chartered Certified Accountants. |
10. | ULTIMATE CONTROLLING PARTY |
The company has no controlling party. |