**ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
**FINANCIAL STATEMENTS**
**31st March 2021**
**Registered number: 06743066**
**THE MONEY BUREAU LIMITED COMPANY ACCOUNTANTS**
## **ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
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FINANCIAL STATEMENTS
for the period ended 31st March 2021
CONTENTS Page
Company information 1
Directors' report 2
Accountants' report 3
Surplus and deficit account 4
Balance sheet 5
Notes 6 to 9
The following pages do not form part of the statutory accounts
Detailed trading and surplus and deficit account Appendix 1
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**1 ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD COMPANY INFORMATION 31st March 2021** INCORPORATED in England on 9[th] March 2014 NUMBER 06743066 DIRECTORS Simms, Pamelia Telfer, Diana REGISTERED OFFICE St. Michael`s Gun Hill, Arley, Coventry CV7 8HA BANKERS Lloyds Bank PLC Blackheath Branch 153 High St, Warley, Rowley Regis B65 0EB ACCOUNTANTS The Money Bureau limited PO Box 12178 Tamworth Staffordshire B79 7ZX
**2**
## **ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
## **DIRECTORS' REPORT**
**31st March 2021**
The Directors present their report and the financial statements for the year ended 31st March 2021.
## **Principal activity**
The principal activities of the company during the period were the provision of a community resource to individuals and organisations in Arley North Warwickshire
## **Directors**
The directors of the company during the year act as volunteers. There are no shares issued in the company
## **Small company exemptions**
For the year ending 31st March 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 accounts 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 accounts,
these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
By order of the board
..............................
Director
**3**
**ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
**ACCOUNTANTS' REPORT**
**For the period ended 31st March 2021**
**Accountants' report on the unaudited financial statements to the Directors of Arley and St Michaels Community Centre Ltd.**
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2016, set out on pages 5 to 9, and you consider that the company is exempt both from an audit and a report under section 477 of the Companies Act 2006 relating to small companies.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
..............................
The Money Bureau limited Accountants
**4**
## **ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
## **SURPLUS AND DEFECIT ACCOUNT**
**for the year ended 31st March 2021**
|||**2021**|**2020**||
|---|---|---|---|---|
|||**£**|**£**||
||**Note**||||
|**Turnover**|2|29 576|21 898||
|Cost of sales||5 064||2 439|
|**Gross surplus**||24 512|19 459||
|**Net operating expenses**|||||
|Administrative expenses||(25 214)|(16 562)||
|**Operating (deficit)/surplus**|3|(702)|
|2 897|
|Interest payable|4|(0)||(0)|
|**(Deficit)/surplus on ordinary**|**activities**||||
|**before taxation**||(702)||2 899|
|Interest received||0||2|
|Grants received||0||0|
|Other income||0||0|
|Taxation||-||-|
|**(Deficit)/surplus on ordinary**|**activities**||||
|**after**taxation|12|(702)||2 891|
|Dividend Drawn||0||0|
|**retained for the year**||**(702)**||**2 891**|
Movements in reserves are shown in note 12.
None of the company's activities were acquired or discontinued during the above two financial years.
There are no recognised gains and deficits in 2020 or 2021 other than the (deficit)/surplus for the year.
**5**
|**5**|||||
|---|---|---|---|---|
||**ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**||||
|||**BALANCE SHEET**|||
|||**at 31st March 2021**|||
|||**2021**||**2020**|
||**Note**|£||£|
|**Fixed assets**|||||
|Tangible assets|6|0||0|
|**Current assets**|||||
|Cash at bank and in hand||4 610|7|633|
|Trade Debtors||6 257|3|944|
|Petty Cash||30||30|
|||10 897|11|607|
|**Creditors:**amounts falling due|||||
|within one year|8||||
|Trade Creditors|||338|313|
|Provisions|||0|33|
|Bank Overdraft|||0|0|
||||323|346|
|**Creditors:**amounts falling due|||||
|After one year|||-||
|**Net current assets**||**10 574**||**11 261**|
|**Total assets less current liabilities**||**10 574**||**11 261**|
|
Called up share capital|11||||
|Surplus and deficit account|12|10 574||11 261|
|**Total reserves**||10 574||11 261|
|continued ......|||||
**6**
## **ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTDL**
**BALANCE SHEET** (continued) **at 31st March 2021**
The directors consider that for the year ended 31st March 2021 the company was entitled to exemption under subsection 1 of section 477 of the Companies Act 2006. No member or members have deposited a notice requesting an audit for the current financial year under subsection 2 of section 249B of the Act.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 477 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These financial statements are prepared in accordance with the special provisions section 477 of the Companies Act 2006 relating to small companies.
The financial statements on pages 5 to 9 were approved by the board of directors on .............................. and signed on its behalf by:
Director
## **7 ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
**NOTES ON FINANCIAL STATEMENTS - 31st March 2021**
## **1 Accounting policies**
## **ACC320** Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)
## **ACC321** Turnover
The turnover shown in the surplus & deficit account represents revenue earned during the period, exclusive of VAT
## **ACC322** Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
**Freehold buildings** 2% on cost or revalued amounts, **Plant and machinery** 15% on cost, **Fixtures and fittings** 10% on cost, **Motor vehicles** 20% on cost. No depreciation is provided on **freehold land**
## **ACC323** Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.
## **ACC324** Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
## Fixed Asset Investments
Fixed Asset Investments are stated in the balance sheet at cost less any provision made for impairment in value. Such investments are classified as current assets when regarded as available for sale.
## Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
## 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 the surplus and deficit account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the surplus and deficit account on a straight line basis over the period of the lease.
## Research and Development
Expenditure on research and development is written off in the year in which it is incurred.
## **8 ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
**NOTES ON FINANCIAL STATEMENTS**
**31st March 2021**
## **3 Operating (deficit)/surplus**
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2021
£
Operating (deficit)/surplus is stated after charging
Depreciation of tangible fixed assets (note 6)
owned assets 0
═════
4 Interest payable
2021
£
Interest payable 0
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**5 Taxation**
Corporation Tax has been calculated at the smaller Companies rate.
## **6 Tangible fixed assets**
||**Fixtures Office Equipment**|**Fixtures Office Equipment**|
|---|---|---|
||**and**||
||**Fittings**||
|**Cost**|
**£**|£|
|1stApril 2020|0|0|
|Additions|
0|0|
||───────|───────|
|**Depreciation**|||
|Charge to date|
0|0|
||───────|───────|
|Charge for year|0|0|
|**Net book amount**|||
|31st March 2021|
0|0|
||`═══════`|`═══════`|
|**8**
**Creditors:**amounts falling due||
|---|---|
|within one year||
||**2021**|
||£|
|Trade Creditors|
338|
|Accruals|0|
||═══|
||323|
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9
ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD
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NOTES ON FINANCIAL STATEMENTS
31st March 2021
9 Deferred Taxation
The potential liability and provision are based on a corporation Tax rate of 19%
10 Reconciliation of movements in reserves' funds
2021
£
(Deficit)/surplus for the financial year (702)
representing a
Net (subtraction from)/addition to
reserves
Opening reserves 11 261
Opening restricted reserves
Closing reserves 10 574
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11 Called up share capital
Number of
Shares
Authorised
There are no shares issued in this organisation
════════
12 Surplus and deficit account
2021
£
31st March 2021 (702)
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The potential liability and provision are based on a corporation Tax rate of 19%
**10**
## **ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTDLIMITED**
## **NOTES ON FINANCIAL STATEMENTS**
**31st March 2021**
**10 Related parties**
## **Controlling party**
The company is under the control of the directors
## **Appendix 1**
**ARLEY & ST. MICHAEL`S COMMUNITY CENTRE LTD**
**TRADING AND SURPLUS AND DEFECIT ACCOUNT**
**for the year ended 31st March 2021**
|**2021**
£
**Turnover**
Rents received & Donations
29 576
Grants Received
0
Other income received
0
29 576
**Cost of sales**
Activities
5 064
Direct grant expenditure
0
5 064
**Gross Trading Surplus**
**24 512**
**24 512**
**Less overheads**
Salaries
11 823
Repairs and Maintenance
4 181
Heat, Light, Power & Water
5 326
Tools and Equipment
468
Insurance
1 454
Licences
35
Fees
0
Stationery
599
Marketting
100
Telephone and postage
690
Catering
0
Janitorial supplies
0
Fines
200
Accounts
325
Sundries
13
Depreciation
0
25 214
**Net (deficit)/surplus for the year**
(702)|
|**2020**
£
18 223
3 675
2
21 900
0
2 439
2 439
19 461
6 212
2 617
4 850
593
762
414
68
212
185
81
203
52
0
300
13
0
16 562
2 899|||
|---|---|---|---|---|
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