ULBC Trust Limited
Company no: 06799407 Charity no. 1174721 Accounts for the period 1 October 2020 to 30 September 2021
| Balance sheet, £ Fixed assets Tangible assets (boats & equipment) Investments Total fixed assets Current assets Debtors Investments Cash at bank and in hand Total current assets Liabilities Creditors: amounts falling due within one year Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Provisions for liabilities Total net assets/(liabilities) Funds Restricted income funds Unrestricted funds Total funds |
2021 231,015 45,000 276,015 17,987 97,268 158,209 273,464 4,614 268,850 544,865 - - 544,865 - 544,865 544,865 |
2020 256,928 37,179 |
|---|---|---|
| 294,107 | ||
| 32,973 97,256 71,492 |
||
| 201,721 | ||
| 2,639 199,083 493,190 - - |
||
| 493,190 | ||
| - 493,190 |
||
| 493,190 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The profit and loss account and directors’ report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Approved by the directors on 27 May 2022 and signed on their behalf by
John Kinnear Director
Notes to the accounts
1. Accounting policies
(a) Basis of preparation
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102. These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
In the absence of any restrictions on the use of the Trust’s assets, no distinction is made between restricted and unrestricted funds within the accounts.
(b) Preparation of accounts on a going concern basis
The accounts have been prepared on a going concern basis. The trustees intend to keep the charity in operation indefinitely and it remains fully solvent.
(c) Income
Grants and donations are only included when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included as incoming resources when receivable.
(d) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
(d) Tangible fixed assets and depreciation
Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year and cost at least £1,000. Tangible fixed assets are valued at historical cost less depreciation. Depreciation is applied using the reducing balance method, at a rate of 20% per annum for vehicles and 10% per annum for all other assets.
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2. Tangible assets
| Cost, £ At the beginning of the year Additions Disposals At end of the year Depreciation, £ At the beginning of the year Disposals Depreciation At end of the year Net book value, £ Net book value at the beginning of the year Net book value at the end of the year |
2021 Plant, machinery & vehicles Fixtures, fittings & equipment Total 10,500 426,833 437,433 0 0 0 0 0 0 10,500 426,833 437,333 8,299 172,107 180,405 0 0 0 440 25,473 25,913 8,739 197,579 206,318 2,202 254,726 256,928 1,761 229,254 231,015 |
2020 |
|---|---|---|
| Plant, machinery & vehicles Fixtures, fittings & equipment Total 21,700 459,984 484,110 0 62,505 62,505 11,200 95,656 108,856 |
||
| 10,500 426,833 437,333 |
||
| 11,780 161,273 195,095 4,032 39,511 43,543 551 28,303 28,853 |
||
| 8,299 172,107 180,405 |
||
| 9,920 276,669 286,589 2,202 254,726 256,928 |
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3. Investments
| Fixed assets investments, £ Carrying (fair) value at beginning of period Add:additions to investments during period Less:disposals at carrying value Less: impairments Add: Reversal of impairments Add/(deduct):transfer in/(out) in the period Add/(deduct):net gain/(loss) on revaluation Carrying (fair) value at end of year Current asset investments, £ Cash or cash equivalents Listed investments Investment properties Social investments Other investments Total |
2021 Listed investments Total 37,179 37,179 - - - - - - - - - - 7,821 7,821 45,000 45,000 2021 97,268 - - - - 97,268 |
2020 | 2020 |
|---|---|---|---|
| Listed investments 37,179 - - - - - 7,821 |
Listed investments 42,673 - - - - - -5,494 |
Total 42,673 - - - - - -5,494 |
|
| 45,000 | 37,179 | 37,179 | |
| 2020 97,256 - - - - |
|||
| 97,256 |
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4. Cash at bank and in hand
| Analysis of cash at bank and in hand, £ Short term cash investments Short term deposits - ULBC Trust main account Cash at bank and in hand Other Total |
2021 - - 158,209 158,209 - 158,209 |
2020 - - 71,492 |
|---|---|---|
| 71,492 | ||
| - | ||
| **71,492 ** |
5. Debtors
| Analysis of debtors, £ Prepayments and accrued income Other debtors Total Debtors |
2021 10,000 7,967 17,987 |
2020 |
|---|---|---|
| 20,000 | ||
| 12,973 | ||
| 32,973 |
6. Creditors
| Analysis of creditors, £ Amounts falling due within one year Trade creditors Total creditors Amounts falling due after more than one year Total creditors |
2021 4,614 4,614 - |
2020 2,639 |
|---|---|---|
| 2,639 | ||
| - |
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