Acton recycling communty
Directors report
Year ended 31 March 2023
The dlrectors present their report and flnanclal statement and organlsatlon of work
The charity was establish8d by the constitution adopt8d by th8 charty on 34rd September 1997
and reglstered as a Ilmit8d company by guarant88 on the 26th October1999. The registered
address Is 148 south Ealing road, Eallng W5 4QJ
Dlrectors
C bell
C bohane
OTHER MAThERS
Developments actltlves and achl8V8m8nts thls year
As we ar8 now tha only chartty shop In Soulh Eallng Road altar comblnlng our two prolects
tog8ther last y8ar after lockdown. And the closure of the MARF shop. It Is quite hard to attract
new customers as the parade Is full of Coffee Shop and v8getable stores.
When we flrst opened ft was a very dlfferent parade houslng two banks and varlous de5tlnatlons
shop5 but we feal It Is a good place for us as It Is on two bus routes
148 South Eallng Road
Thls hous88 our offlce. voluntserslcllent hub In th8 r8ar portlon and our retall space In th8 front.
We are always trylng to generate as much Sncom8 as posslble to support ourselves.
W8 hav8 8 £2 rall whlch18 V6ry popular as mary people are struggllng to meet thera outgolngs at
present.
We have also tr5ed selling on eBay whlch takes a lot of tlme for very Ilttle addltlonal Income. This18
a place to ty to sell spaclallst Items { fur coats etc) whlch we could not put Into th8 shop
We have come to a agreement In December 2022 to rent the shop on a 10 year lease wlth the
landlord for a rent of £20,400 per year wtth a 5 year break clause.
It was a Increase but we had looked about for new pr8mls8s, but d8¢ldad as we had a customer
base already tt was better to stay rather then trylng to move and attract new customers wlth the
current climate
FLrture development
We are trylng to Support our present cllents and attract new customers
Going forward we thlnk is very important to support our clientsl volunt88rs wlth a p8rman8nt
bas8 and a open door pollcy wh8r8 th8y f881 at hom8 and supported by us.
**Company registration number: 3655787**
**Acton Recycling Community**
**Financial statements**
**31 March 2023**
## **Acton Recycling Community**
## **Contents**
||**Page**|
|---|---|
|Directors and other information|**1**|
|Directors report|**2 - 3**|
|Assurance report|**4**|
|Statement of comprehensive income|**5**|
|Statement of financial position|**6 - 7**|
|Statement of changes in equity|**8**|
|Notes to the financial statements|**9 - 11**|
## **Acton Recycling Community**
## **Directors and other information**
|**Directors**|C Bell|
|---|---|
||C Bohane|
|**Secretary**|C Bell|
|**Company number**|3655787|
|**Registered office**|148 South Ealing Road|
||Ealing|
||London|
||W5 4QJ|
|**Accountants**|THOMAS COOKE|
||1 Kilmarsh road|
||london|
||W6 0PL|
|**Bankers**|Barclays Bank|
||1 Churchil Place|
||London|
||E14 5HP|
**Page 1**
## **Acton Recycling Community**
## **Directors report Year ended 31 March 2023**
The directors present their report and the financial statements of the company for the year ended 31 March 2023.
## **Incorporation**
Objects of the charity, principal activites and organisation of our work.
The charity was established by the constitution adopted by the charity on 23rd September 1997 and registered as a charity on 9th December 1997 (charity number 1094639) It was further registered as a limited company by guarantee on the 26th October 1999. The registered address of the charity is 148 South Ealing Road, London. W5 4QJ
## **Directors**
The directors who served the company during the year were as follows:
C Bell
C Bohane
## **Other matters**
Developments, activities and achievements this year
It was with great sadness that we said goodbye to one of our founding members Keith Bell who passed away quietly after a short illness. Keith and Fr. Joe were very well known in the Acton area where our community first came together to help the Homeless and vulnerable and this remains our ethos and we continue their work today.
## 148 South Ealing Road
This became our base in March 2019 when we brought our two projects together. We have refurbished the rear of the shop to house our storeroom office and volunteer's hub.
After a short while with a few tweaks and gentle reminders to our volunteer's, clients and staff all have slowly developed into a smooth well-oiled operation.
## Furniture
It was decided in April 2019 to collect items and directly pass them on the same day with little need for storage.
Our referral book is always full with people needing small items of furniture, bedding, house hold items and clothes.
It was decided not to buy a van as it was only used twice a week to collect and it was cheaper and easier for us to hire when needed. We are very lucky that one of our members has a small van and is happy to collect and deliver locally.
## Future developments
It is our aim to remain active within our community, offering help kindness and understanding to our customers, clients and volunteers in the months ahead as we enter lockdown.
**Page 2**
## **Acton Recycling Community**
## **Directors report (continued) Year ended 31 March 2023**
## **Directors responsibilities statement**
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 December 2023 and signed on behalf of the board by:
C Bell Director
**Page 3**
## **Acton Recycling Community**
## **Independent chartered accountants review report to the directors, as a body, of Acton Recycling Community Year ended 31 March 2023**
We have reviewed the financial statements of Acton Recycling Community for the year ended 31 March 2023 which comprise statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes on pages 9 to 11. The financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 20 December 2023. Our review has been undertaken so that we may state to the company's directors, as a body, those matters we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than the company and the company's directors, as a body, for our work, for this report or the conclusions we have formed.
## **Directors responsibility for the financial statements**
As explained more fully in the directors responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
## **Accountants' responsibility**
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements, and ICAEW Technical Release TECH 09/13AAF. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.
## **Scope of assurance review**
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.
## **Conclusion**
Based on our review, nothing has come to our attention that causes us to believe the financial statements have not been prepared:
- so as to give a true and fair view of the state of the company's affairs as at 31 March 2023, and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the Companies Act 2006.
THOMAS COOKE Chartered Accountants
1 Kilmarsh road london W6 0PL
20 December 2023
**Page 4**
## **Acton Recycling Community**
## **Statement of comprehensive income Year ended 31 March 2023**
|**Note**
**Turnover**
Cost of sales
Administrative expenses
**Operating profit/(loss)**
**Profit/(loss) before taxation**
**4**
Tax on profit/(loss)
**Profit/(loss) for the financial year and total**
**comprehensive income**|**2023**
**£**
69,258
-
)
(68,441
817
817
-
817|2022
£
55,635
-
)
(62,582
)
(6,947
)
(6,947
-
)
(6,947|
|---|---|---|
All the activities of the company are from continuing operations.
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 5**
## **Acton Recycling Community**
## **Statement of financial position 31 March 2023**
|**Note**
**Fixed assets**
Tangible assets
**5**
**Current assets**
Debtors
**6**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**7**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Capital and reserves**
Profit and loss account
**Shareholder funds**|**2023**
**£**
**£**
-
-
5,150
23,247
28,397
)
(105
28,292
28,292
28,292
28,292
28,292|2022
£
£
550
550
-
27,030
27,030
)
(105
26,925
27,475
27,475
27,475
27,475|2022
£
£
550
550
-
27,030
27,030
)
(105
26,925
27,475
27,475
27,475
27,475|
|---|---|---|---|
||||27,475|
||||27,475|
||||27,475|
||||27,475|
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors responsibilities:
- The member has 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.
These financial statements have been prepared 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'.
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 6**
## **Acton Recycling Community**
## **Statement of financial position (continued) 31 March 2023**
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023, and are signed on behalf of the board by:
C Bell Director
Company registration number: 3655787
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 7**
## **Acton Recycling Community**
## **Statement of changes in equity Year ended 31 March 2023**
|Profit and
loss
account
£
**At 1 April 2021**
34,422
Profit/(loss) for the year
)
(6,947
**Total comprehensive income for the year**
)
(6,947
**At 31 March 2022 and 1 April 2022**
27,475
Profit/(loss) for the year
817
**Total comprehensive income for the year**
817
**At 31 March 2023**
28,292|**Total**
**£**
34,422
)
(6,947
)
(6,947
27,475
817
817
28,292|
|---|---|
**Page 8**
## **Acton Recycling Community**
## **Notes to the financial statements Year ended 31 March 2023**
## **1. General information**
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 148 South Ealing Road, Ealing, London, W5 4QJ.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Turnover**
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
## **Taxation**
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
**Page 9**
## **Acton Recycling Community**
## **Notes to the financial statements (continued) Year ended 31 March 2023**
## **Tangible assets**
Tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
## **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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
## **Impairment**
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.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
## **4. Profit/loss before taxation**
Profit/loss before taxation is stated after charging/(crediting):
||**2023**|2022|
|---|---|---|
||**£**|£|
|Depreciation of tangible assets|550|550|
**Page 10**
## **Acton Recycling Community**
## **Notes to the financial statements (continued) Year ended 31 March 2023**
## **5. Tangible assets**
|Plant and
machinery
£
**Cost**
**At 1 April 2022 and 31 March 2023**
5,128
**Depreciation**
At 1 April 2022
4,578
Charge for the year
550
**At 31 March 2023**
5,128
**Carrying amount**
**At 31 March 2023**
-
At 31 March 2022
550
**6.**
**Debtors**
**2023**
**£**
Other debtors
5,150
**7.**
**Creditors: amounts falling due within one year**
**2023**
**£**
Other creditors
105|**Total**
**£**
5,128|
|---|---|
||4,578
550|
||5,128|
||-|
||550|
||2022
£
-
2022
£
105|
**Page 11**
## **Acton Recycling Community**
**The following pages do not form part of the statutory accounts.**
## **Acton Recycling Community**
## **Detailed income statement Year ended 31 March 2023**
||**2023**|2022|
|---|---|---|
||**£**|£|
|**Turnover**|||
|Sales|69,258|55,635|
||69,258|55,635|
|**Gross profit**|69,258|55,635|
|**Gross profit percentage**|%
100.0|%
100.0|
|**Overheads**|||
|**Administrative expenses**|||
|Wages and salaries|)
(41,997|)
(35,291|
|Staff pension costs|)
(942|)
(942|
|Rent payable|)
(13,948|)
(17,819|
|Water rates|)
(153|-|
|Insurance|)
(338|)
(310|
|Light and heat|)
(2,309|)
(883|
|Repairs and maintenance|)
(17|)
(839|
|Telephone|)
(1,729|)
(1,743|
|Motor expenses|)
(11|)
(21|
|Travelling|)
(10|)
(275|
|Legal and professional|)
(2,772|)
(758|
|Accountancy fees|)
(2,880|)
(2,760|
|General expenses|)
(785|)
(391|
|Depreciation of tangible assets|)
(550|)
(550|
||)
(68,441|)
(62,582|
|**Operating profit/(loss)**|817|)
(6,947|
|**Operating profit/(loss) percentage**|%
1.2|%
12.5|
|**Profit/(loss) before taxation**|817|)
(6,947|
**Company registration number: 3655787**
**Acton Recycling Community**
**Financial statements**
**31 March 2023**
## **Acton Recycling Community**
## **Contents**
||**Page**|
|---|---|
|Directors and other information|**1**|
|Directors report|**2 - 3**|
|Assurance report|**4**|
|Statement of comprehensive income|**5**|
|Statement of financial position|**6 - 7**|
|Statement of changes in equity|**8**|
|Notes to the financial statements|**9 - 11**|
## **Acton Recycling Community**
## **Directors and other information**
|**Directors**|C Bell|
|---|---|
||C Bohane|
|**Secretary**|C Bell|
|**Company number**|3655787|
|**Registered office**|148 South Ealing Road|
||Ealing|
||London|
||W5 4QJ|
|**Accountants**|THOMAS COOKE|
||1 Kilmarsh road|
||london|
||W6 0PL|
|**Bankers**|Barclays Bank|
||1 Churchil Place|
||London|
||E14 5HP|
**Page 1**
## **Acton Recycling Community**
## **Directors report Year ended 31 March 2023**
The directors present their report and the financial statements of the company for the year ended 31 March 2023.
## **Incorporation**
Objects of the charity, principal activites and organisation of our work.
The charity was established by the constitution adopted by the charity on 23rd September 1997 and registered as a charity on 9th December 1997 (charity number 1094639) It was further registered as a limited company by guarantee on the 26th October 1999. The registered address of the charity is 148 South Ealing Road, London. W5 4QJ
## **Directors**
The directors who served the company during the year were as follows:
C Bell
C Bohane
## **Other matters**
Developments, activities and achievements this year
It was with great sadness that we said goodbye to one of our founding members Keith Bell who passed away quietly after a short illness. Keith and Fr. Joe were very well known in the Acton area where our community first came together to help the Homeless and vulnerable and this remains our ethos and we continue their work today.
## 148 South Ealing Road
This became our base in March 2019 when we brought our two projects together. We have refurbished the rear of the shop to house our storeroom office and volunteer's hub.
After a short while with a few tweaks and gentle reminders to our volunteer's, clients and staff all have slowly developed into a smooth well-oiled operation.
## Furniture
It was decided in April 2019 to collect items and directly pass them on the same day with little need for storage.
Our referral book is always full with people needing small items of furniture, bedding, house hold items and clothes.
It was decided not to buy a van as it was only used twice a week to collect and it was cheaper and easier for us to hire when needed. We are very lucky that one of our members has a small van and is happy to collect and deliver locally.
## Future developments
It is our aim to remain active within our community, offering help kindness and understanding to our customers, clients and volunteers in the months ahead as we enter lockdown.
**Page 2**
## **Acton Recycling Community**
## **Directors report (continued) Year ended 31 March 2023**
## **Directors responsibilities statement**
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 December 2023 and signed on behalf of the board by:
C Bell Director
**Page 3**
## **Acton Recycling Community**
## **Independent chartered accountants review report to the directors, as a body, of Acton Recycling Community Year ended 31 March 2023**
We have reviewed the financial statements of Acton Recycling Community for the year ended 31 March 2023 which comprise statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes on pages 9 to 11. The financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 20 December 2023. Our review has been undertaken so that we may state to the company's directors, as a body, those matters we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than the company and the company's directors, as a body, for our work, for this report or the conclusions we have formed.
## **Directors responsibility for the financial statements**
As explained more fully in the directors responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
## **Accountants' responsibility**
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements, and ICAEW Technical Release TECH 09/13AAF. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.
## **Scope of assurance review**
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.
## **Conclusion**
Based on our review, nothing has come to our attention that causes us to believe the financial statements have not been prepared:
- so as to give a true and fair view of the state of the company's affairs as at 31 March 2023, and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the Companies Act 2006.
THOMAS COOKE Chartered Accountants
1 Kilmarsh road london W6 0PL
20 December 2023
**Page 4**
## **Acton Recycling Community**
## **Statement of comprehensive income Year ended 31 March 2023**
|**Note**
**Turnover**
Cost of sales
Administrative expenses
**Operating profit/(loss)**
**Profit/(loss) before taxation**
**4**
Tax on profit/(loss)
**Profit/(loss) for the financial year and total**
**comprehensive income**|**2023**
**£**
69,258
-
)
(68,441
817
817
-
817|2022
£
55,635
-
)
(62,582
)
(6,947
)
(6,947
-
)
(6,947|
|---|---|---|
All the activities of the company are from continuing operations.
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 5**
## **Acton Recycling Community**
## **Statement of financial position 31 March 2023**
|**Note**
**Fixed assets**
Tangible assets
**5**
**Current assets**
Debtors
**6**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**7**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Capital and reserves**
Profit and loss account
**Shareholder funds**|**2023**
**£**
**£**
-
-
5,150
23,247
28,397
)
(105
28,292
28,292
28,292
28,292
28,292|2022
£
£
550
550
-
27,030
27,030
)
(105
26,925
27,475
27,475
27,475
27,475|2022
£
£
550
550
-
27,030
27,030
)
(105
26,925
27,475
27,475
27,475
27,475|
|---|---|---|---|
||||27,475|
||||27,475|
||||27,475|
||||27,475|
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors responsibilities:
- The member has 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.
These financial statements have been prepared 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'.
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 6**
## **Acton Recycling Community**
## **Statement of financial position (continued) 31 March 2023**
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023, and are signed on behalf of the board by:
C Bell Director
Company registration number: 3655787
**The notes on pages 9 to 11 form part of these financial statements.**
**Page 7**
## **Acton Recycling Community**
## **Statement of changes in equity Year ended 31 March 2023**
|Profit and
loss
account
£
**At 1 April 2021**
34,422
Profit/(loss) for the year
)
(6,947
**Total comprehensive income for the year**
)
(6,947
**At 31 March 2022 and 1 April 2022**
27,475
Profit/(loss) for the year
817
**Total comprehensive income for the year**
817
**At 31 March 2023**
28,292|**Total**
**£**
34,422
)
(6,947
)
(6,947
27,475
817
817
28,292|
|---|---|
**Page 8**
## **Acton Recycling Community**
## **Notes to the financial statements Year ended 31 March 2023**
## **1. General information**
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 148 South Ealing Road, Ealing, London, W5 4QJ.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Turnover**
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
## **Taxation**
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
**Page 9**
## **Acton Recycling Community**
## **Notes to the financial statements (continued) Year ended 31 March 2023**
## **Tangible assets**
Tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
## **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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
## **Impairment**
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.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
## **4. Profit/loss before taxation**
Profit/loss before taxation is stated after charging/(crediting):
||**2023**|2022|
|---|---|---|
||**£**|£|
|Depreciation of tangible assets|550|550|
**Page 10**
## **Acton Recycling Community**
## **Notes to the financial statements (continued) Year ended 31 March 2023**
## **5. Tangible assets**
|Plant and
machinery
£
**Cost**
**At 1 April 2022 and 31 March 2023**
5,128
**Depreciation**
At 1 April 2022
4,578
Charge for the year
550
**At 31 March 2023**
5,128
**Carrying amount**
**At 31 March 2023**
-
At 31 March 2022
550
**6.**
**Debtors**
**2023**
**£**
Other debtors
5,150
**7.**
**Creditors: amounts falling due within one year**
**2023**
**£**
Other creditors
105|**Total**
**£**
5,128|
|---|---|
||4,578
550|
||5,128|
||-|
||550|
||2022
£
-
2022
£
105|
**Page 11**
## **Acton Recycling Community**
**The following pages do not form part of the statutory accounts.**
## **Acton Recycling Community**
## **Detailed income statement Year ended 31 March 2023**
||**2023**|2022|
|---|---|---|
||**£**|£|
|**Turnover**|||
|Sales|69,258|55,635|
||69,258|55,635|
|**Gross profit**|69,258|55,635|
|**Gross profit percentage**|%
100.0|%
100.0|
|**Overheads**|||
|**Administrative expenses**|||
|Wages and salaries|)
(41,997|)
(35,291|
|Staff pension costs|)
(942|)
(942|
|Rent payable|)
(13,948|)
(17,819|
|Water rates|)
(153|-|
|Insurance|)
(338|)
(310|
|Light and heat|)
(2,309|)
(883|
|Repairs and maintenance|)
(17|)
(839|
|Telephone|)
(1,729|)
(1,743|
|Motor expenses|)
(11|)
(21|
|Travelling|)
(10|)
(275|
|Legal and professional|)
(2,772|)
(758|
|Accountancy fees|)
(2,880|)
(2,760|
|General expenses|)
(785|)
(391|
|Depreciation of tangible assets|)
(550|)
(550|
||)
(68,441|)
(62,582|
|**Operating profit/(loss)**|817|)
(6,947|
|**Operating profit/(loss) percentage**|%
1.2|%
12.5|
|**Profit/(loss) before taxation**|817|)
(6,947|