COMPANY REGISTRATION NUMBER: 04349864
Northfield Community Partnership Limited Company Limited by Guarantee Unaudited Financial Statements
31 March 2021
Northfield Community Partnership Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2021
| Contents | Page |
|---|---|
| Directors' report | 1 |
| Statement of income and retained earnings | 2 |
| Statement of financial position | 3 |
| Notes to the financial statements | 5 |
| The following pages do not form part of the financial statements | |
| Detailed income statement | 9 |
| Notes to the detailed income statement | 10 |
Northfield Community Partnership Limited
Company Limited by Guarantee
Directors' Report
Year ended 31 March 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2021.
Directors
The directors who served the company during the year were as follows:
Mrs S Allen Mrs J Boyett Mr A J Clarke Mrs C Corrigan Mr I Jones
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 26 October 2021 and signed on behalf of the board by:
Mr A J Clarke Director
Registered office: 693/695 Bristol Road South Northfield Birmingham B31 2JT
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Northfield Community Partnership Limited
Company Limited by Guarantee
Statement of Income and Retained Earnings
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| Turnover | £ | £ |
| Supporting People Grants | ||
| Big Lottery | 141,650 | 113,306 |
| Birmingham City Council | 314,114 | 87,462 |
| NNS Heart of England | 24,636 | – |
| COVID Response | 67,790 | – |
| Birmingham Voluntary | 116,120 | 5,000 |
| Small Grants and Donations | 19,043 | 4,979 |
| Beach | – | 15,783 |
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|
| 683,353 | 226,530 | |
| Rental income | 38,217 | 28,633 |
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|
| 721,570 | 255,163 | |
| Overheads | ||
| Administrative expenses | 605,943 | 259,287 |
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|
| Operating profit/(loss) | 115,627 | (4,124) |
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| Other interest receivable and similar income | 6 | 13 |
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| Profit/(loss) before taxation | 115,633 | (4,111) |
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|
| Retained earnings at the start of the year | 60,555 | 64,666 |
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| Retained earnings at the end of the year | 176,188 | 60,555 |
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All the activities of the company are from continuing operations.
The notes on pages 5 to 7 form part of these financial statements.
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Northfield Community Partnership Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 7 | 2,170 | 2,895 |
| Current assets | |||
| Debtors | 8 | 12,000 | 10,000 |
| Cash at bank and in hand | 180,798 | 53,678 | |
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| 192,798 | 63,678 | ||
| Creditors: amounts falling due within one year | 9 | 18,780 | 6,018 |
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| Net current assets | 174,018 | 57,660 | |
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| Total assets less current liabilities | 176,188 | 60,555 | |
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| Net assets | 176,188 | 60,555 | |
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| Capital and reserves | |||
| Profit and loss account | 176,188 | 60,555 | |
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| Members funds | 176,188 | 60,555 | |
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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'.
For the year ending 31 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 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.
The statement of financial position continues on the following page. The notes on pages 5 to 7 form part of these financial statements.
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Northfield Community Partnership Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 26 October 2021, and are signed on behalf of the board by:
Mr A J Clarke Director
Susan Allen Chair
Company registration number: 04349864
4
Northfield Community Partnership Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2021
The notes on pages 5 to 7 form part of these financial statements.
5
Northfield Community Partnership Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 693/695 Bristol Road South, Northfield, Birmingham, B31 2JT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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Northfield Community Partnership Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
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:
- Leasehold property 20% straight line - Plant and machinery 25% straight line Motor vehicles - 25% reducing balance
Impairment of fixed assets
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.
For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Company limited by guarantee
/
5. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2020: 5).
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Northfield Community Partnership Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
| 6. | Profit before taxation | ||||
|---|---|---|---|---|---|
| Profit before taxation is stated after charging: | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible assets | 725 | 965 | |||
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| 7. | Tangible assets | ||||
| Land and | Plant and | Motor | |||
| buildings | machinery | vehicles | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 April 2020 and 31 March 2021 | 46,211 | 13,834 | 3,860 | 63,905 | |
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| Depreciation | |||||
| At 1 April 2020 | 46,211 | 13,834 | 965 | 61,010 | |
| Charge for the year | – | – | 725 | 725 | |
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| At 31 March 2021 | 46,211 | 13,834 | 1,690 | 61,735 | |
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| Carrying amount | |||||
| At 31 March 2021 | – | – | 2,170 | 2,170 | |
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| At 31 March 2020 | – | – | 2,895 | 2,895 | |
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| 8. | Debtors | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Other debtors | 12,000 | 10,000 | |||
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| 9. | Creditors: amounts falling due within | one year | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Social security and other taxes | 14,580 | 3,018 | |||
| Other creditors | 4,200 | 3,000 | |||
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| 18,780 | 6,018 | ||||
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10. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed FRS102.
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Northfield Community Partnership Limited
Year ended 31 March 2021
Company Limited by Guarantee
Management Information
The following pages do not form part of the financial statements.
9
Northfield Community Partnership Limited
Detailed Income Statement
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| Turnover | £ | £ |
| Supporting People Grants | ||
| Big Lottery | 141,650 | 113,306 |
| Birmingham City Council | 314,114 | 87,462 |
| NNS Heart of England | 24,636 | – |
| COVID Response | 67,790 | – |
| Birmingham Voluntary | 116,120 | 5,000 |
| Small Grants and Donations | 19,043 | 4,979 |
| Beach | – | 15,783 |
───────── |
───────── |
|
| 683,353 | 226,530 | |
| Rental income | 38,217 | 28,633 |
───────── |
───────── |
|
| 721,570 | 255,163 | |
| Overheads | ||
| Administrative expenses | 605,943 | 259,287 |
───────── |
───────── |
|
| Operating profit/(loss) | 115,627 | (4,124) |
───────── |
───────── |
|
| Other interest receivable and similar income | 6 | 13 |
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|
| Profit/(loss) before taxation | 115,633 | (4,111) |
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10
Northfield Community Partnership Limited
Notes to the Detailed Income Statement
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Administrative expenses | ||
| Administrative staff salaries and expenses | 302,070 | 126,235 |
| Rent rates and water | 85,699 | 50,946 |
| Light and heat | 4,008 | 2,870 |
| Insurance | 3,560 | 1,901 |
| Repairs and maintenance | 5,547 | 1,146 |
| Cleaning costs | 1,410 | 5,106 |
| Motor expenses | 7,319 | 2,364 |
| Travel and subsistence | – | 520 |
| Telephone | 3,573 | 3,892 |
| Computer equipment and consumables | 27,345 | 3,871 |
| Printing postage and stationery | 6,100 | 2,747 |
| Training and subscriptions | 6,466 | 1,242 |
| Sundry expenses | 7,583 | 2,370 |
| Events | 122,054 | 48,575 |
| Microgrants | 16,000 | – |
| General expenses - TV licence | 144 | 154 |
| Advertising and marketing | 1,027 | 1,000 |
| Legal and professional fees | 682 | – |
| Accountancy fees | 4,200 | 3,000 |
| Depreciation of tangible assets | 725 | 965 |
| Bank charges | 431 | 383 |
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|
| 605,943 | 259,287 | |
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|
| Other operating income | ||
| Government grants and other grants | 683,353 | 226,530 |
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|
| Other interest receivable and similar income | ||
| Interest on cash and cash equivalents | 6 | 13 |
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