Report of the Directors and
Unaudited Financial Statements for the Year Ended 28 February 2021
for
Hoole Community Development Trust
Hoole Community Development Trust
Contents of the Financial Statements for the Year Ended 28 February 2021
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Directors | 2 |
| Statement of Income and Retained Earnings | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Chartered Accountants' Report | 7 |
| Detailed Profit and Loss Account | 8 |
Hoole Community Development Trust
Company Information for the Year Ended 28 February 2021
DIRECTORS:
A R K Black A G V Riddell R J Heather Mrs A C M Lewis P J Tasker Mrs P Higgins
REGISTERED OFFICE:
Hoole Community Centre Westminster Road Hoole Chester Cheshire CH2 3AP
REGISTERED NUMBER:
07950960 (England and Wales)
ACCOUNTANTS:
Haines Watts Military House 24 Castle Street Chester Cheshire CH1 2DS
Page 1
Hoole Community Development Trust
Report of the Directors for the Year Ended 28 February 2021
The directors present their report with the financial statements of the company for the year ended 28 February 2021.
PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property management.
DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2020 to the date of this report.
A R K Black A G V Riddell R J Heather Mrs A C M Lewis P J Tasker Mrs P Higgins
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
.....................................................................
R J Heather - Director
Date: .............................................
Page 2
Hoole Community Development Trust
Statement of Income and Retained Earnings for the Year Ended 28 February 2021
| REVENUE Administrative expenses OPERATING PROFIT Interest receivable and similar income PROFIT BEFORE TAXATION Tax on profit PROFIT FOR THE FINANCIAL YEAR Retained earnings at beginning of year RETAINED EARNINGS AT END OF YEAR |
28.2.21 £ 155,901 141,037 14,864 - 14,864 - 14,864 43,185 58,049 |
29.2.20 £ 182,456 161,145 |
|---|---|---|
| 21,311 1 |
||
| 21,312 - |
||
| 21,312 21,873 |
||
| 43,185 |
The notes form part of these financial statements
Page 3
Hoole Community Development Trust (Registered number: 07950960)
Balance Sheet 28 February 2021
| 28.2.21 | 29.2.20 | ||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 5 | 1,549 | 12,204 |
| Cash at bank and in hand | 69,363 | 48,174 | |
| 70,912 | 60,378 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (12,863) | (17,193) |
| NET CURRENT ASSETS | 58,049 | 43,185 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 58,049 | 43,185 | |
| RESERVES | |||
| Retained earnings | 58,049 | 43,185 | |
| MEMBERS' FUNDS | 58,049 | 43,185 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on ............................................. and were signed on its behalf by:
.....................................................................
R J Heather - Director
The notes form part of these financial statements
Page 4
Hoole Community Development Trust
Notes to the Financial Statements
for the Year Ended 28 February 2021
1.
STATUTORY INFORMATION
Hoole Community Development Trust is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 33% on cost
Taxation
Taxation for the year is comprised of current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
3. EMPLOYEES AND DIRECTORS
The average number of employees during the year was 6 (2020 - 6).
Page 5
continued...
Hoole Community Development Trust
Notes to the Financial Statements - continued for the Year Ended 28 February 2021
4. PROPERTY, PLANT AND EQUIPMENT
| 4. | PROPERTY, PLANT AND EQUIPMENT | ||
|---|---|---|---|
| Plant and | |||
| machinery | |||
| etc | |||
| £ | |||
| COST | |||
| At 1 March 2020 | |||
| and 28 February 2021 | 8,936 | ||
| DEPRECIATION | |||
| At 1 March 2020 | |||
| and 28 February 2021 | 8,936 | ||
| NET BOOK VALUE | |||
| At 28 February 2021 | - | ||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 28.2.21 | 29.2.20 | ||
| £ | £ | ||
| Trade debtors | - | 10,204 | |
| Prepayments | 1,549 | 2,000 | |
| 1,549 | 12,204 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 28.2.21 | 29.2.20 | ||
| £ | £ | ||
| Trade creditors | 4,895 | 2,321 | |
| Other creditors | 1,743 | 5,645 | |
| Accrued expenses | 6,225 | 9,227 | |
| 12,863 | 17,193 |
Page 6
Chartered Accountants' Report to the Board of Directors on the Unaudited Financial Statements of Hoole Community Development Trust
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hoole Community Development Trust for the year ended 28 February 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Hoole Community Development Trust, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hoole Community Development Trust and state those matters that we have agreed to state to the Board of Directors of Hoole Community Development Trust, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hoole Community Development Trust and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Hoole Community Development Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hoole Community Development Trust. You consider that Hoole Community Development Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hoole Community Development Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Haines Watts Military House 24 Castle Street Chester Cheshire CH1 2DS
Date: .............................................
This page does not form part of the statutory financial statements
Page 7
Hoole Community Development Trust
Detailed Profit and Loss Account for the Year Ended 28 February 2021
| Turnover Sales Grants and services provided Other income Deposit account interest Expenditure Rent Rates and water Electricity Waste Wages Heating Telephone Post and stationery Advertising Licences and insurance Cafe food and consumables Repairs and renewals Sundry expenses Accountancy Subscriptions Legal fees Bad debts Finance costs Bank charges NET PROFIT |
28.2.21 £ 87,759 68,142 18,000 585 3,567 1,278 86,857 3,075 692 596 15 2,643 1,954 10,299 2,813 730 67 3,831 4,000 |
£ 155,901 - 155,901 141,002 14,899 35 14,864 |
29.2.20 £ 146,361 36,095 18,000 1,771 8,760 1,915 97,041 2,894 849 - - (694) 18,308 4,093 7,496 712 - - - |
£ 182,456 1 |
|---|---|---|---|---|
| 182,457 161,145 |
||||
| 21,312 - |
||||
| 21,312 |
This page does not form part of the statutory financial statements
Page 8