2025-12-31-accounts

COMPANY REGISTRATION NUMBER: 02041873 CHARITY REGISTRATION NUMBER: 295113

Community for Reconciliation Company Limited by Guarantee

Unaudited Financial Statements 31 December 2025

POINTON YOUNG

Chartered Accountants 33 Ludgate Hill Birmingham B3 1EH

Community for Reconciliation

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2025

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	3
Statement of financial activities (including income and
expenditure account)	4
Statement of financial position	5
Notes to the financial statements	6

Community for Reconciliation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2025

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2025.

Reference and administrative details

Registered charity name Community for Reconciliation Charity registration number 295113 Company registration number 02041873 Principal office and registered Barnes Close office Chadwich Manor Estate Chadwich Bromsgrove B61 0RA The trustees Rev C E Turner T Harris M J Kenyon M P Bull G J Holt M A Royal Independent examiner S Brown BA FCA 33 Ludgate Hill Birmingham B3 1EH

Structure, governance and management

The Members’ Council is aware of its governance responsibilities and will actively seek new members, using a skills-based approach where necessary. None of the Members Council has any beneficial interest in the company. All Members of the Council are members of the company and guarantee to contribute £1 in the event of a winding-up.

Objectives and activities

The Community for Reconciliation exists for the advancement of religion and the relief of poverty by any charitable means. Since its inception in 1986, the charity has been based in a building owned by Bournville Village Trust, on the edge of the Waseley Hills, now known as The Greenhouse at Barnes Close.

Achievements and performance

The programme remains varied and sees church groups and schools visiting alongside those who are seeking the peace and space of a few retreat days. Weekends tend to be fully booked through the year and our midweek bookings continue to slowly increase. A new pricing structure was agreed to more accurately reflect the reality of running a residential centre in the current climate – this has been well received and has led to a more stable financial position. We employ a Director, Operations Manager, housekeeper and a number of sessional cleaning staff. At the end of 2025 we were delighted to secure the funds, via an Awards4All grant, to employ a Volunteer Coordinator who will begin employment in early 2026.

2

Community for Reconciliation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2025

2025 has been a fruitful year during which CfR has continued to pursue a programme that reflects our commitment to reconciliation, justice and peace-making. A new brochure was produced to communicate this vision more widely, in particular with partner or potential partner organisations. Most significantly, our relationship with the Methodist Church has strengthened and developed to the point where we expect to sign a Memorandum of Understanding in 2026, alongside a partnership agreement that defines a ‘New People New Places’ initiative that is also due to launch in 2026. This project will see The Greenhouse become a ‘motherhouse’ to a new worshipping community who will visit regularly whilst also connecting remotely on a regular basis.

In terms of the more established programme, 2025 has seen the following …

• Ongoing maintenance work on the building

• Monthly Soul Craft retreat days which have seen the emergence of a core group of attendees throughout the year.

• Well-attended fundraising events attracting members of local churches to re-engage with The Greenhouse.

• A LGBT youth weekend Prophetic Dreamers (now to be called ‘Pigeons’) take place

• Curtains Up! weekend for young people

• A very successful open day as part of Heritage Week which saw 65 visitors to the Greenhouse

• The Greenhouse host the launch of a book outlining the work of Touch of Hope, the peacemaking project that has, over 30years, sought to equip communities across the former Yugoslavia to actively seek peace.

• Our Director becoming part of the Birmingham Spiritual Accompaniers Forum

Financial review

We are very grateful to all that donate to the Community for Reconciliation. It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should on the grounds of prudence, be maintained at a level between 6 and 12 months of expenditure. 2025 saw us both continuing to invest to improve the property to make it both more sustainable and welcoming and moving towards our aim to restore our reserves.

The trustees' annual report was approved on 17 July 2026 and signed on behalf of the board of trustees by:

……………………. Rev C E Turner Chair of Trustees

2

Community for Reconciliation

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Community for Reconciliation

Year ended 31 December 2025

I report to the trustees on my examination of the financial statements of Community for Reconciliation ('the charity') for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act ’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………… S Brown BA FCA Independent Examiner Pointon Young Chartered Accountants 33 Ludgate Hill Birmingham B3 1EH 17 July 2026

3

Community for Reconciliation

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 December 2025

			2025		2024
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	14,983	25,000	39,983	65,672
Other trading activities	6	122,082	–	122,082	98,097
Investment income	7	4	25	29	104
		─────────	────────	─────────	─────────
Total income		137,069	25,025	162,094	163,873
		═════════	════════	═════════	═════════
Expenditure
Expenditure on charitable activities	8,9	128,429	1,204	129,633	147,048
		─────────	────────	─────────	─────────
Total expenditure		128,429	1,204	129,633	147,048
		═════════	════════	═════════	═════════
		─────────	────────	─────────	─────────
Net (expenditure)/income and net
movement in funds		8,640	23,821	32,461	16,825
		═════════	════════	═════════	═════════
Reconciliation of funds
Total funds brought forward		124,407	11,626	136,033	119,208
Transfers		-	-	-	-
		─────────	────────	─────────	─────────
Total funds carried forward		133,047 ═════════	35,447 ════════	168,494 ═════════	136,033 ═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 6 to 15 form part of these financial statements.

4

Community for Reconciliation

Company Limited by Guarantee

Statement of Financial Position

31 December 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible fixed assets	15	99,412	104,346
Current assets
Debtors	16	7,074	5,250
Cash at bank and in hand		70,637	38,132
		────────	────────
		77,711	43,382
Creditors: amounts falling due within one year	17	8,629	11,695
		────────	────────
Net current assets		69,082	31,687
		─────────	─────────
Total assets less current liabilities		168,494	136,033
		─────────	─────────
Net assets		168,494	136,033
		═════════	═════════
Funds of the charity
Restricted funds		35,447	11,626
Unrestricted funds		133,047	124,407
		─────────	─────────
Total charity funds	18	168,494 ═════════	136,033 ═════════

For the year ending 31 December 2025, the charity 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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 17 July 2026, and are signed on behalf of the board by:

M Bull

The notes on pages 6 to 15 form part of these financial statements.

5

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Barnes Close, Chadwich Manor Estate, Chadwich, Bromsgrove, B61 0RA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

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 income or expenditure.

The financial statements are prepared in sterling, the entity's functional currency.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity meets the criteria for a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Community for Reconciliation No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including reasonable expectations of future events under the circumstances.

6

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the trustees' discretion to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.

Restricted funds are subject to expenditure restrictions declared by the donor or set by the terms of an appeal and fall into two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.

• legacy income is recognised when receipt is probable, and entitlement is established.

• Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received, provided their value can be reliably measured. No amounts are included for contributions from general volunteers.

• Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

7

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis.

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 recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses, except to the extent that it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

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:

Short leasehold property	-	2% straight line
Plant and machinery	-	25% straight line
Fixtures and fittings	-	10% reducing balance
Equipment	-	33% straight line

8

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

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 charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

9

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Financial instruments (continued)

All equity instruments, regardless of significance, and other financial assets that are individually significant are assessed individually for impairment. Other financial assets are either assessed individually or grouped based on similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, in which case the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

10

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

Debtors and creditors receivable/ payable within one year

Debtors are creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

4. Limited by guarantee

The charity is a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association

5. Donations and legacies

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Donations
	Donations		14,983	2,007	16,990
	Grants
	Grants receivable		–	22,993	22,993
			────────	────────	────────
			14,983	25,000	39,983
			════════	════════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Donations
	Donations		61,799	3,873	65,672
	Grants
	Grants receivable		-	-	-
			────────	────────	────────
			61,799	3,873	65,672
			════════	════════	════════
6.	Other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Charitable activities	122,082	122,082	98,097	98,097
		════════	════════	════════	════════

11

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

7. Investment income

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Bank interest receivable	4	25	29
	════	════	════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Bank interest receivable	84	20	104
	════	════	════
Expenditure on charitable activities by fund type
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Charitable activities	102,970	1,120	104,090
Support costs	25,443	84	25,527
Interest payable	16	-	16
	─────────	────────	─────────
	128,429	1,204	129,633
	═════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Charitable activities	117,979	4,407	122,386
Support costs	24,662	-	24,662
	────────	────────	─────────
	142,641 ════════	4,407 ════════	147,048 ═════════

8. Expenditure on charitable activities by fund type

9. Expenditure on charitable activities by activity type

		Activities
		undertaken		Total funds	Total fund
		directly	Support costs	2025	2024
		£	£	£	£
	Charitable activities	104,090	25,543	129,633	147,048
		═════════	════════	═════════	═════════
10.	Analysis of support costs
		Professional
		fees	Depreciation	Total 2025	Total 2024
		£	£	£	£
	Governance costs	15,262	10,265	25,527	24,662
		════════	════════	════════	═══════

12

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

11. Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting):

	Net (expenditure)/income is stated after charging/(crediting):
		2025	2024
		£	£
	Depreciation of tangible fixed assets	10,265	10,496
		════════	═══════
12.	Independent examination fees
		2025	2024
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	825	815
		═══════	═══════
13.	Staff costs

The average head count of employees during the year was 6 (2023: 6). The average number of full-time equivalent employees during the year is analysed as follows:

	2025	2024
	No.	No.
Number of staff	6	6
	════	════

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

14. Trustee remuneration and expenses

One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.

13

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

15. Tangible fixed assets

	Short
	leasehold	Plant and	Fixtures and
	property	machinery	fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2025	169,557	48,806	53,780	3,154	275,297
Additions	–	-	5,332	–	5,332
	─────────	────────	────────	───────	─────────
At 31 December 2025	169,557	48,806	59,112	3,154	280,629
	═════════	════════	════════	═══════	═════════
Depreciation
At 1 January 2025	106,640	33,969	27,188	3,154	170,951
Charge for the year	3,391	3,709	3,165	-	10,265
	─────────	────────	────────	───────	─────────
At 31 December 2025	110,031	37,678	30,353	3,154	181,216
	═════════	════════	════════	═══════	═════════
Carrying amount
At 31 December 2025	59,526	11,128	28,759	-	99,413
	═════════	════════	════════	═══════	═════════
At 31 December 2024	62,917	14,837	26,592	-	104,346
	═════════	════════	════════	═══════	═════════

Leasehold land and buildings (property) were purchased in February 1989 on a 99 year lease for £115,000. The total of the original cost of £115,000 was provided by Aylesbury Ecumenical Church (formerly Aylesbury United Reformed Church) £50,000, Fulham United Reformed Church £10,000, Webb Trust £25,000, and £30,000 from the charity.

16. Debtors

	2025	2024
	£	£
Trade debtors	5,880	4,641
Prepayments and accrued income	1,194	609
	───────	────────
	7,074	5,250
	═══════	════════
Creditors: amounts falling due within one year
	2025	2024
	£	£
Trade creditors	-	1,140
Accruals and deferred income	7,830	9,927
Other creditors	799	628
	────────	────────
	8,629	11,695
	════════	════════

17. Creditors: amounts falling due within one year

14

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 January 2025	Income	Expenditure	Transfers	31 December 2025
	£	£	£	£	£
General funds	20,062	137,069	(128,429)	-	28,702
Designated Fund	104,345	–	–	-	104,345
	─────────	─────────	─────────	────	─────────
	124,407	137,069	(128,429)	-	133,047
	═════════	═════════	═════════	════	═════════
	At				At
	1 January 2024	Income	Expenditure	Transfers	31 December 2024
	£	£	£	£	£
General funds	2,963	159,980	(142,641)	(240)	20,062
Designated Fund	104,105	–	–	240	104,345
	─────────	─────────	────────	────────	─────────
	107,068	159,980	(142,641)	-	124,407
	═════════	═════════	════════	════════	═════════
Restricted funds
	At				At
	1 January 2025	Income	Expenditure	Transfers	31 December 2025
	£	£	£	£	£
Restricted Fund	11,626	25,025	(1,204)	-	35,447
	════════	════════	════════	════	════════
	At				At
	1 January 2024	Income	Expenditure	Transfers	31 December 2024
	£	£	£	£	£
Restricted Fund	12,140	3,873	(4,407)	-	11,626
	════════	════════	════════	════════	════════

15

Community for Reconciliation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2025

19. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2025
	£	£
Tangible fixed assets	99,412	99,412
Current assets	42,264	77,711
Creditors less than 1 year	(8,629)	(8,629)
	─────────	─────────
Net assets	133,047	168,494
	═════════	═════════
	Unrestricted	Total Funds
	Funds	2024
	£	£
Tangible fixed assets	104,346	104,346
Current assets	31,756	43,382
Creditors less than 1 year	(11,695)	(11,695)
	─────────	─────────
Net assets	124,407	136,033
	═════════	═════════

16