BICOL UNITED UK COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
13151217 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 January 2023

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

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Directors' report period ended 31 January 2023

The directors present their report with the financial statements of the company for the period ended 31 January 2023

Principal activities of the company

Provide a voluntary public and charity service to its members, the Bicolanos, their families, beneficiaries, devotees, friends, supporters, and the disadvantaged who are living, and working in the U. K. The aim of the group is unity through expression of faith, culture, tradition, and most importantly their loving devotion to Our Lady of Penafrancia, the “Queen Patroness of Bicolandia”, and El Divino Rostro De Jesus” by Organizing religious activities such as group prayers, meetings, and the annual festivity celebrations of Our Lady of Penafrancia and Divino Rostro de Jesus which is also celebrated worldwide. This includes the Fluvial Procession at the River Thames in London and its Annual Mass Celebration at Our Lady of Mount Carmel and St Simon Stock Church in London. Organising and supporting community fundraising events to help members of the community who are disadvantaged, less fortunate while building good relationships, camaraderie, friendships and expanding networks and engagements. Organizing health and wellness, social and cultural activities to promote social inclusion, solidarity, to promote health and wellbeing, unity, friendship, camaraderie, and good working & healthy relationships amongst members of the Bicol community who are away from home and families

Political and charitable donations

The company's charitable donations during the period amounted to £300. No political donations were made.

Company policy on disabled employees

Bicol United UK Community Interest Company is committed to a comprehensive policy on Equality and Diversity to all its members, volunteers, and clients. This policy is aimed to protect, respect the rights and dignity of its members, volunteers. No officer or member of company is registered disabled.

Additional information

The company is covered by Public Liability Insurance. This aim of the group is unity through expression of faith, culture, tradition, and most importantly their loving devotion to Our Lady of Penafrancia, the “Queen Patroness of Bicolandia”, and El Divino Rostro De Jesus” by Organizing religious activities such as group prayers, meetings, and the annual festivity celebrations of Our Lady of Penafrancia and Divino Rostro de Jesus which is also celebrated worldwide. This includes the Fluvial Procession at the River Thames in London and its Annual Mass Celebration at Our Lady of Mount Carmel and St Simon Stock Church in London. Organising and supporting community fundraising events to help members of the community who are disadvantaged, less fortunate while building good relationships, camaraderie, friendships and expanding networks and engagements. Organizing health and wellness activities such as sports, dancing, and other fitness programme to promote health and wellbeing, unity, friendship, camaraderie, and good working & healthy relationships amongst members of community. Organizing social and cultural activities to promote social inclusion, solidarity, and good relationships amongst members of the Bicol community who are away from home and families. Organizing educational & community development activities such as workshops, and webinars to enhance continued personal & professional development, and to promote learning for pleasure to members of the community who are retired or no longer in full time employment. Providing membership programme to encourage more memberships from the six provinces of the Bicol Region with the aim of strengthen the Company’s profile, its productivity and performance while promoting solidarity, networking power and close working relationship amongst the Bicol Community, its members, and families. Coordinating with Government Agencies such as POLO/OWWA (Philippine Overseas Labour Office/Overseas Workers Welfare Administration) of the Philippine Embassy in London and other agencies to provide opportunities for members of the community to participate available livelihood, technical and skills training for self-development and readiness when returning to their homeland for good or as hobby or recreational activities after work and during their free times.



Directors

The directors shown below have held office during the whole of the period from
1 February 2022 to 31 January 2023

Danilo Favor
Adelina Duenas


Secretary Maribel P. Favor

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
20 September 2023

And signed on behalf of the board by:
Name: Danilo Favor
Status: Director

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 January 2023

2023 2022


£

£
Turnover: 9,335 2,080
Cost of sales: ( 8,353 ) ( 1,693 )
Gross profit(or loss): 982 387
Administrative expenses: ( 721 ) ( 455 )
Operating profit(or loss): 261 (68)
Profit(or loss) before tax: 261 (68)
Profit(or loss) for the financial year: 261 (68)

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 261
Total current assets: 261
Net current assets (liabilities): 261
Total assets less current liabilities: 261
Total net assets (liabilities): 261
Members' funds
Profit and loss account: 261 0
Total members' funds: 261 0

The notes form part of these financial statements

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 January 2023 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 20 September 2023
and signed on behalf of the board by:

Name: Danilo Favor
Status: Director

The notes form part of these financial statements

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 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

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets depreciation policy Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 2% on cost or revalued amounts, Plant and Machinery - 15% on cost, Fixtures and fittings - 10% on cost, Motor vehicles - 25% on cost.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 10 10

    Volunteers

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Financial Commitments

Company is limited by guarantee and consequently does not have share capital. Its ultimate controlling party is their directors.

COMMUNITY INTEREST ANNUAL REPORT

BICOL UNITED UK COMMUNITY INTEREST COMPANY

Company Number: 13151217 (England and Wales)

Year Ending: 31 January 2023

Company activities and impact

Provide a voluntary public and charity service to its members, the Bicolanos, their families, beneficiaries, devotees, friends, supporters, and the disadvantaged who are living, and working in the U. K. The aim of the group is unity through expression of faith, culture, tradition, and most importantly their loving devotion to Our Lady of Penafrancia, the “Queen Patroness of Bicolandia”, and El Divino Rostro De Jesus” by Organizing religious activities such as group prayers, meetings, and the annual festivity celebrations of Our Lady of Penafrancia and Divino Rostro de Jesus which is also celebrated worldwide. This includes the Fluvial Procession at the River Thames in London and its Annual Mass Celebration at Our Lady of Mount Carmel and St Simon Stock Church in London. Organising and supporting community fundraising events to help members of the community who are disadvantaged, less fortunate while building good relationships, camaraderie, friendships and expanding networks and engagements. Organizing health and wellness, social and cultural activities to promote social inclusion, solidarity, to promote health and wellbeing, unity, friendship, camaraderie, and good working & healthy relationships amongst members of the Bicol community who are away from home and families.

Consultation with stakeholders

The company’s stakeholders are officers and members of the Bicol Communities including their beneficiaries, families, friends, devotees, supporters, sponsors, beneficiaries, and interested individuals living and working in the United Kingdom.The Directors of the company had organised regular monthly meeting that enabled the group to discuss updates, issues, suggestions, plan of activities and reports of members who needed support. It was decided by the majority that Bicol United UK CIC will continue to provide financial support from the company’s fund and voluntary donations from members to members who need help especially the sick and the bereaved. The officers and members also decided to continue to celebrate the annual festivity celebration of Our Lady of Penafrancia and Divino Rostro de Jesus by having 9 weekends of novena group prayers before the main event of the year which is the Fluvial Procession of the images of Our Lady of Penafrancia and Divino Rostro at the River Thames, London UK attended by 250 devotees, supporters, families, and friends. The celebration was concluded by the Annual Community Mass celebration at Carmelite Church London UK and reception dinner attended by at least 250 devotees, parishioners, supporters, families, friends, and individuals. The officers and members also enjoyed get-together to celebrate Christmas.The company had also organized weekly voluntary donations of flowers offering from the officers and members to the image of Our Lady of Penafrancia since its enshrinement at the Carmelite Church London UK. Members of the community, devotees, supporters, and tourists/visitors visit the place as they continue to strengthen their faith, foster their devotion to our dear Blessed Mother, not only during her annual festivities but anytime of the week, month, or year.

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
30 September 2023

And signed on behalf of the board by:
Name: Danilo Favor
Status: Director