Company registration number: 04638968
THE D FOUNDATION Trading as THE D FOUNDATION Company limited by guarantee
Unaudited financial statements
30 April 2021
THE D FOUNDATION Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Statement of comprehensive income | 3 |
| Statement of financial position | 4 - 5 |
| Statement of changes in equity | 6 |
| Notes to the financial statements | 7 - 10 |
THE D FOUNDATION Company limited by guarantee
Directors and other information
Directors DAVIDE WHELLER MARK GUNTHER PAULS Company number 04638968 Registered office 310, STAFFORD ROAD CROYDON CR0 4NH Accountant BALDREY & ASSOCIATES LTD 310 STAFFORD ROAD CROYDON SURREY CR0 4NH
THE D FOUNDATION Company limited by guarantee
Directors report Year ended 30 April 2021
The directors present their report and the unaudited financial statements of the company for the year ended 30 April 2021.
Directors
The directors who served the company during the year were as follows:
DAVIDE WHELLER MARK GUNTHER PAULS
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 .............................. and signed on behalf of the board by:
DAVIDE WHELLER Director
THE D FOUNDATION Company limited by guarantee
Statement of comprehensive income Year ended 30 April 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | - | 57,011 | |
| Cost of sales | ) (4,528 |
) (36,159 |
|
| Gross (loss)/profit | ) (4,528 |
20,852 | |
| Administrative expenses | ) (5,293 |
) (16,277 |
|
| Operating (loss)/profit | ) (9,821 |
4,575 | |
| (Loss)/profit before taxation | ) (9,821 |
4,575 | |
| Tax on (loss)/profit | - | - | |
| (Loss)/profit for the financial year and total | |||
| comprehensive income | ) (9,821 |
4,575 |
All the activities of the company are from continuing operations.
The notes on pages 7 to 10 form part of these financial statements.
THE D FOUNDATION Company limited by guarantee
Statement of financial position 30 April 2021
| 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 (liabilities)/assets Total assets less current liabilities Net (liabilities)/assets Capital and reserves Profit and loss account Members (deficit)/funds |
2021 £ £ 290 290 512 703 1,215 ) (5,719 ) (4,504 ) (4,214 ) (4,214 ) (4,214 ) (4,214 |
2020 £ £ 290 290 554 8,665 9,219 ) (3,902 5,317 5,607 5,607 5,607 5,607 |
2020 £ £ 290 290 554 8,665 9,219 ) (3,902 5,317 5,607 5,607 5,607 5,607 |
|---|---|---|---|
| 5,607 | |||
| 5,607 | |||
| 5,607 | |||
| 5,607 |
For the year ending 30 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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 10 form part of these financial statements.
THE D FOUNDATION Company limited by guarantee
Statement of financial position (continued) 30 April 2021
These financial statements were approved by the board of directors and authorised for issue on , and are signed on behalf of the board by:
DAVIDE WHELLER Director
Company registration number: 04638968
The notes on pages 7 to 10 form part of these financial statements.
THE D FOUNDATION Company limited by guarantee
Statement of changes in equity Year ended 30 April 2021
| Profit and | Total | |
|---|---|---|
| loss | ||
| account | ||
| £ | £ | |
| At 1 May 2019 | 1,032 | 1,032 |
| (Loss)/profit for the year | 4,575 | 4,575 |
| Total comprehensive income for the year | 4,575 | 4,575 |
| At 30 April 2020 and 1 May 2020 | 5,607 | 5,607 |
| (Loss)/profit for the year | ) (9,821 |
) (9,821 |
| Total comprehensive income for the year | ) (9,821 |
) (9,821 |
| At 30 April 2021 | ) (4,214 |
) (4,214 |
THE D FOUNDATION Company limited by guarantee
Notes to the financial statements Year ended 30 April 2021
1. General information
The company is a private company limited by guarantee, registered in . The address of the registered office is THE D FOUNDATION, 310, STAFFORD ROAD, CROYDON, CR0 4NH.
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.
THE D FOUNDATION Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 April 2021
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.
THE D FOUNDATION Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 April 2021
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
5. Tangible assets
| Plant and machinery £ Cost At 1 May 2020 and 30 April 2021 290 Depreciation At 1 May 2020 and 30 April 2021 - Carrying amount At 30 April 2021 290 At 30 April 2020 290 |
Total £ 290 |
|---|---|
| - | |
| 290 | |
| 290 |
THE D FOUNDATION Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 April 2021
6. Debtors
| Debtors | ||
|---|---|---|
| Other debtors Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Social security and other taxes Other creditors |
2021 £ 512 2021 £ 2,500 - - 3,219 5,719 |
2020 £ 554 |
| 2020 £ - 508 175 3,219 |
||
| 3,902 |
7. Creditors: amounts falling due within one year
8. Directors advances, credits and guarantees
THE D FOUNDATION Company limited by guarantee
The following pages do not form part of the statutory accounts.
THE D FOUNDATION Company limited by guarantee
Detailed income statement Year ended 30 April 2021
| Turnover Funding Cost of sales Freelance & Commissions Payable Magazine printing & production Wages and salaries Office Rent & Venue Hire Gross (loss)/profit Gross (loss)/profit percentage Overheads Administrative expenses Directors remuneration Insurance & Subscriptions PPS & advertising Telephone Computer & Website Costs Travelling Registered Office & Statutory fees Accountancy fees Bank charges & Interest General expenses Operating (loss)/profit Operating (loss)/profit percentage (Loss)/profit before taxation |
2021 £ - - ) (1,688 ) (1,746 ) (1,094 - ) (4,528 ) (4,528 % - - ) (1,454 ) (494 ) (144 ) (978 ) (695 ) (188 ) (1,220 - ) (120 ) (5,293 ) (9,821 % - ) (9,821 |
2020 £ 57,011 57,011 ) (5,168 ) (24,798 - ) (6,193 ) (36,159 20,852 % 36.6 ) (5,828 ) (1,721 ) (456 ) (480 ) (2,241 ) (2,515 ) (183 ) (1,410 ) (25 ) (1,418 ) (16,277 4,575 % 8.0 4,575 |
|---|---|---|