The Harrogate and District Improvement Trust - Period Ending 2023-01-31

The Harrogate and District Improvement Trust

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

The Harrogate and District Improvement Trust

Company Information

Directors

Catherine Elizabeth Wormald Ms Lynne Mee Ms Monique Gabrielle Louise Purdy Mr John Charles Harris Mr Simon Kent Mr Nicholas Malcolm Brown Mr Martin Miles Gerrard Mr Russell Mark Davidson

Registered office

Royal House 110 Station Parade Harrogate North Yorkshire HG1 1EP

The Harrogate and District Improvement Trust

(Registration number: 11157539)
Balance Sheet as at 31 January 2023

	Note	2023 £	2022 £
Current assets
Cash at bank and in hand		841	938
Creditors: Amounts falling due within one year	4	(3,700)	(3,700)
Net liabilities		(2,859)	(2,762)
Reserves
Retained earnings		(2,859)	(2,762)
Deficit		(2,859)	(2,762)

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 October 2023 and signed on its behalf by:
 

......................................... Mr Russell Mark Davidson Director

The Harrogate and District Improvement Trust

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP
Uk

These financial statements were authorised for issue by the Board on 12 October 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

The Harrogate and District Improvement Trust

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

The Harrogate and District Improvement Trust

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Loans and borrowings	5	3,700	3,700

5	Loans and borrowings

	2023 £	2022 £
Current loans and borrowings
Other borrowings	3,700	3,700

6	Related party transactions

Transactions with directors

2023	At 1 February 2022 £	At 31 January 2023 £
Mr Russell Mark Davidson
Interest free loan from a director to the company, presented within creditors; repayable on demand.	1,850	1,850
Catherine Elizabeth Wormald
Interest free loan from a director to the company, presented within creditors; repayable on demand.	1,850	1,850

2022	At 1 February 2021 £	At 31 January 2022 £
Mr Russell Mark Davidson
Interest free loan from a director to the company, presented within creditors; repayable on demand.	1,850	1,850
Catherine Elizabeth Wormald
Interest free loan from a director to the company, presented within creditors; repayable on demand.	1,850	1,850