## **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. 1 ## **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**| 2 ## **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| 3 ## **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**| |||| |||**-**| 4