Registered company number 03288971 **Demesne Community Association Ltd** **Reports and Accounts Year ending 31[st] March 2021** Page 1 ## **Demesne Community Association Ltd** ## **Report and accounts** ## **Contents** **Page** **Company information 3** **Director’s report 4** **Profit and Loss Account 5** **Balance Sheet 6** **Notes to the accounts 7-8** Page 2 ## **Demesne Community Association Ltd** ## **Company information** **Directors** **M.McCall** **C.Fraser** **M.Collier** ## **Others:** ## **R. Pollitt (Contact)** **S. Patterson (Centre Manager)** **Registered office** **Asby Close** **Langley,** **Middleton** **Manchester M24 4JF** Page 3 ## **Registered company number** ## **03288971** ## **Demesne Community Association Ltd Registered company number 03288971** ## **Director’s report** ## **Review of activities** Financial year 2020/21 has been a difficult year for all companies, however our financial position remains positive. Demesne Community centre remains a flag ship, with excellent services. The nursery has provided exemplary childcare, while the centre manager has brought in much needed services concentrating on wellbeing activities, such as Yoga, meditation and support groups for women and men. The Directors continue to monitor performance in these difficult times. ## **Director’s responsibilities** The directors are responsible for preparing the Director’s report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the situation of the company and of the incoming resources and application of resources. In preparing these financial accounts, the Directors are required to: - Select suitable accounting policies and then apply them consistently. - Make judgements and accounting estimate that are reasonable and prudent. Page 4 - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The report was approved by the Board on 17[th] December 2021 and agreed on its behalf. Director ## **Demesne Community Association Ltd Profit and Loss Account For the year ending 31[st] March 2021** |**Notes**||**2021**|| |---|---|---|---| |**2020**|||| |**£ £**|||| |Turnover 1|218774||269585| |Cost of sales|0|0|| |Gross proft|218774||269585| |Administrative expenses|209403||239532| Page 5 |Operating proft/(loss)|9371||30233| |---|---|---|---| |Proft/ (loss) on ordinary activities before taxation 5|9371||30233| |Tax on ordinary activities 2|0||0| |Proft/(Loss) for the fnancial year|9371||30233| |**Demesne Community Association Ltd**|||| |**Balance Sheet as of 31st March 2021**|||| |**Notes**||**2021**|| |**2020**|||| |**£ £**|||| |**Current assets**|||| |Debtors 3|0||0| |Cash at bank and in hand||75098|| |72147.6|||| |Total|75098||72147.6| |Creditors: amounts falling due within 1 year 4|||0| |(660)|||| |Net assets|75098||71487.6| |Reserves|||| |Proft and Loss account 5|75098||71487.6| Page 6 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under Section 477 of the Companies Act 2006.Members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies’ subject to the small company’s regime. Director Approved by the Board on 29[th] December 2021 ## **Demesne Community Association Ltd** ## **Notes to the accounts for the year ending 31[st] March 2021** ## **1. Accounting policies** The principal accounting policies adopted in the preparation of the financial statements are set out below: ## **Basis of preparation** The accounts have been prepared under the historical cost convention. The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company. ## **Compliance with accounting standards** The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Page 7 Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). ## **Turnover** Turnover represents amounts receivable for goods and services net of VAT and trade discounts. ## **Leasing and hire purchase commitments** Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of their lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals payable under operating leases are charged against income on a straight-line basis over the lease term. |**Notes**||**2021**||| |---|---|---|---|---| |**2020**||||| ||£||£|| |**2. Taxation**||||| |UK Corporation Tax||0||0| |**3. Debtors**||||| |Prepayment||0||0| |**4. Creditors: amounts falling due within one year**||||| |**Trade creditors**||||| |Advanced receipts|0||660|| |Total|0||660|| |**5. Proft and Loss account**||||| Page 8 |Opening Reserves|30522||| |---|---|---|---| |27096|||| |Proft for the year|26839|30522|| |Closing Reserves|57361||| |57329|||| |Trade creditors|0|0|| |Advanced receipts|0||| |660|||| |Total|0|660|| |**Demesne Community Association Ltd**|||| |**Detailed proft and loss account for the year ending 31st March**||**2021**|| |**Notes**|**2021**||| |**2020**|||| ||£|£|| |Turnover|218774||| |269585|||| |Cost of sales|0||0| |Gross proft|218774||| |269585|||| |Salaries|151157||| |122452|||| |Other nursery expenditure|7262||| |26625|||| |Page 9|||| |Insurance|1982||1928|| |---|---|---|---|---| |Utilities|5817||11822|| |Building maintenance||4455||| |12701||||| |Sub-contracted workshop expenses||0||| |2698||||| |Photocopier|1955||1779|| |Telephone|1614||2774|| |Charitable donations||0||0| |Cleaning|261||881|| |Rent|150||150|| |Accountancy and payroll|1933||751|| |HR advice|0||0|| |Food and milk||0||| |6221.12||||| |Sundry expenses|24084|||| |15290||||| |HMRC||8734||| |33150||||| |Proft/ (Loss) for the year|9371||30233|| Page 10