REDS COMMUNITY HUB CIC

Company limited by guarantee

Company Registration Number:
NI653370 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 May 2021

Period of accounts

Start date: 31 May 2020

End date: 31 May 2021

REDS COMMUNITY HUB CIC

Contents of the Financial Statements

for the Period Ended 31 May 2021

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

REDS COMMUNITY HUB CIC

Directors' report period ended 31 May 2021

The directors present their report with the financial statements of the company for the period ended 31 May 2021

Principal activities of the company

The principal activity of the company continued to be that of cultural education.



Directors

The directors shown below have held office during the whole of the period from
31 May 2020 to 31 May 2021

Mr G. Clarke
Mr D. F. Robinson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 August 2022

And signed on behalf of the board by:
Name: Mr G. Clarke
Status: Director

REDS COMMUNITY HUB CIC

Profit And Loss Account

for the Period Ended 31 May 2021

2021 2020


£

£
Turnover: 26,175 59,279
Cost of sales: ( 8,392 ) ( 15,932 )
Gross profit(or loss): 17,783 43,347
Administrative expenses: ( 41,687 ) ( 47,675 )
Other operating income: 56,856
Operating profit(or loss): 32,952 (4,328)
Profit(or loss) before tax: 32,952 (4,328)
Profit(or loss) for the financial year: 32,952 (4,328)

REDS COMMUNITY HUB CIC

Balance sheet

As at 31 May 2021

Notes 2021 2020


£

£
Fixed assets
Tangible assets: 3 45,460 35,924
Total fixed assets: 45,460 35,924
Current assets
Debtors: 4 1,334
Cash at bank and in hand: 30,919 1,305
Total current assets: 32,253 1,305
Creditors: amounts falling due within one year: 5 ( 28,817 ) ( 41,285 )
Net current assets (liabilities): 3,436 (39,980)
Total assets less current liabilities: 48,896 ( 4,056)
Creditors: amounts falling due after more than one year: 6 ( 20,000 )
Total net assets (liabilities): 28,896 (4,056)
Members' funds
Profit and loss account: 28,896 ( 4,056)
Total members' funds: 28,896 (4,056)

The notes form part of these financial statements

REDS COMMUNITY HUB CIC

Balance sheet statements

For the year ending 31 May 2021 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 August 2022
and signed on behalf of the board by:

Name: Mr G. Clarke
Status: Director

The notes form part of these financial statements

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Plant and equipment - 20% reducing balance

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

  • 2. Employees

    2021 2020
    Average number of employees during the period 4 4

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 May 2020 49,721 49,721
Additions 17,560 17,560
Disposals
Revaluations
Transfers
At 31 May 2021 67,281 67,281
Depreciation
At 31 May 2020 13,797 13,797
Charge for year 8,024 8,024
On disposals
Other adjustments
At 31 May 2021 21,821 21,821
Net book value
At 31 May 2021 45,460 45,460
At 30 May 2020 35,924 35,924

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

4. Debtors

2021 2020
£ £
Other debtors 1,334
Total 1,334

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

5. Creditors: amounts falling due within one year note

2021 2020
£ £
Taxation and social security 200 132
Accruals and deferred income 7,920 2,698
Other creditors 20,697 38,455
Total 28,817 41,285

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2021

6. Creditors: amounts falling due after more than one year note

2021
£
Bank loans and overdrafts 20,000
Total 20,000

COMMUNITY INTEREST ANNUAL REPORT

REDS COMMUNITY HUB CIC

Company Number: NI653370 (Northern Ireland)

Year Ending: 31 May 2021

Company activities and impact

The company runs a local sports club. During the year, the clubs activities have benefited the community in the following ways:- Local residents have been able to enjoy sport n the local area with free pool and competitions. - The local community have been able to participate in cross community activities. - Donations have been made to local charities and associations.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
27 August 2022

And signed on behalf of the board by:
Name: Mr G. Clarke
Status: Director