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Registered Number: SC256661
Scotland

 

 

 

HEART FOR THE CITY


Abridged Accounts
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Business Wisdom Centre Ltd
31 December 2021



....................................................
Business Wisdom Centre Ltd
Suite 4.6, 4th Floor
Standard Buildings
94 Hope Street,
Glasgow,
G2 6PH
14 September 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 802    802 
Investments 25,455    25,455 
26,257    26,257 
Current assets      
Debtors: amounts falling due within one year 12,678    12,678 
Cash at bank and in hand 49,465    3,474 
62,143    16,152 
Creditors: amount falling due within one year (2,909)   (2,909)
Net current assets 59,234    13,243 
 
Total assets less current liabilities 85,491    39,500 
Creditors: amount falling due after more than one year (46,592)  
Accruals and deferred income (1,305)   (1,305)
Net assets 37,594    38,195 
 

Capital and reserves
     
Special Reserves 36,000    36,000 
Profit and loss account 1,594    2,195 
Members' funds 37,594    38,195 
 


For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 September 2022 and were signed on its behalf by:


--------------------------------
Lukas Kinyanjui Njenga
Director
2
General Information
Heart For The City is a private company, limited by guarantee, registered in Scotland, registration number SC256661, registration address 32 Springvale Terrace, Glasgow, Lanarkshire, G21 1DS

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
The organisation does not issue sales invoices for goods or services supplied by the organisation. The organisation is not VAT Registered nor does offer trade discounts.
Government grants
Grants received in terms of donations, legacies and grants are credited to income statement as other income. All Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Motor vehicles 33% straight line basis Fixtures, fittings and equipment 33% straight line basis
Freehold interest in land and buildings 0.5% straight line basis Fixed assets are included in the balance sheet at Historical amounts
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

There was no employee during the period under review
Average number of employees during the year was 0 (2020 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2021 9,555    8,279    17,834 
Additions    
Disposals    
At 31 December 2021 9,555    8,279    17,834 
Depreciation
At 01 January 2021 5,548    11,484    17,032 
Charge for year    
On disposals    
At 31 December 2021 5,548    11,484    17,032 
Net book values
Closing balance as at 31 December 2021 4,007    (3,205)   802 
Opening balance as at 01 January 2021 4,007    (3,205)   802 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2021 25,455    25,455 
Additions  
Transfer to/from Tangible fixed assets  
Disposals  
At 31 December 2021 25,455    25,455 

5.

Special Reserves

2021
£
  2020
£
Special reserves b/fwd 36,000    36,000 
36,000    36,000 

3