FOOD CIRCLE YORK CIC

Company limited by guarantee

Company Registration Number:
11053160 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2022

Period of accounts

Start date: 1 November 2021

End date: 31 October 2022

FOOD CIRCLE YORK CIC

Contents of the Financial Statements

for the Period Ended 31 October 2022

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FOOD CIRCLE YORK CIC

Directors' report period ended 31 October 2022

The directors present their report with the financial statements of the company for the period ended 31 October 2022

Directors

The director shown below has held office during the whole of the period from
1 November 2021 to 31 October 2022

Joseph M Fennerty


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
11 August 2023

And signed on behalf of the board by:
Name: Joseph M Fennerty
Status: Director

FOOD CIRCLE YORK CIC

Balance sheet

As at 31 October 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 16,810 24,694
Total fixed assets: 16,810 24,694
Current assets
Stocks: 4 4,200 3,500
Debtors: 5 4,808 4,288
Cash at bank and in hand: 35,104 29,511
Total current assets: 44,112 37,299
Creditors: amounts falling due within one year: 6 ( 28,619 ) ( 26,312 )
Net current assets (liabilities): 15,493 10,987
Total assets less current liabilities: 32,303 35,681
Creditors: amounts falling due after more than one year: 7 ( 5,626 ) ( 7,626 )
Provision for liabilities: ( 3,194 ) ( 4,692 )
Total net assets (liabilities): 23,483 23,363
Members' funds
Profit and loss account: 23,483 23,363
Total members' funds: 23,483 23,363

The notes form part of these financial statements

FOOD CIRCLE YORK CIC

Balance sheet statements

For the year ending 31 October 2022 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 11 August 2023
and signed on behalf of the board by:

Name: Joseph M Fennerty
Status: Director

The notes form part of these financial statements

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 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 measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Plant & machinery: 20% Reducing balance basisMotor vehicles: 25% Reducing balance basis

    Other accounting policies

    Government grantsGovernment grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.InventoriesInventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 2 2

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2021 27,700 9,600 37,300
Additions 1,497 1,497
Disposals ( 3,311 ) ( 1,600 ) ( 4,911 )
Revaluations
Transfers
At 31 October 2022 25,886 8,000 33,886
Depreciation
At 1 November 2021 10,206 2,400 12,606
Charge for year 3,136 1,334 4,470
On disposals
Other adjustments
At 31 October 2022 13,342 3,734 17,076
Net book value
At 31 October 2022 12,544 4,266 16,810
At 31 October 2021 17,494 7,200 24,694

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

4. Stocks

2022 2021
£ £
Stocks 4,200 3,500
Total 4,200 3,500

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

5. Debtors

2022 2021
£ £
Trade debtors 3,047 3,674
Prepayments and accrued income 1,761 614
Total 4,808 4,288

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

6. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 2,000 2,000
Trade creditors 2,449 1,250
Taxation and social security 2,859 1,485
Accruals and deferred income 490 450
Other creditors 20,821 21,127
Total 28,619 26,312

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2022

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

2022 2021
£ £
Bank loans and overdrafts 5,626 7,626
Total 5,626 7,626

COMMUNITY INTEREST ANNUAL REPORT

FOOD CIRCLE YORK CIC

Company Number: 11053160 (England and Wales)

Year Ending: 31 October 2022

Company activities and impact

Staff - up hours and wagesVAT registeredConsidering the uncertainty of this year (particularly in the food sector), the business has performed well - food production and services, while also winning BBC’s Food and Farming Award for Best Shop/Market 2021.This year we have actually seen a slight downturn in revenue (though slightly up in profits). Expected after covid period, and though we have put in substantial investment, it has largely been in areas of production - production is most definitely up, but as this makes less margin, revenue hasn’t followed. This was also our first year being VAT registered, and the business has certainly made bigger contributions in terms of tax over the past 12 months.Of our £133K outgoings, pleasingly 89% of that went directly back to our local economy (producers, THCC and our salaries). A trend we definitely want to continue into the next year.It’s a mixed story for food production. Feed costs in particular have put a strain on meat and egg producers. We’ve seen Grassfruits (Pork and chicken farm) close due to land issues and general rising costs.. The egg co-op is limping on, losing Rocket & Russet production, andunfortunately not being able to build on the foundations from the year before. We have found two new meat producers (Doodales Farm and Yorkshire Pasture Poultry). Better news in other areas. Increase in quality, quantity and consistency of veg production (over the full 12 months)has been marked. Our own efforts at Howsham Polytunnels have also been our most successful to date. Prices have been kept at last year's prices, as we continue the message that supporting small scale, low input production provides a stable price point. Fruit, we have not seen a year like it. No late frosts, and a tropical summer has seen our orchards cropheavy.Our chef Jim has had an increase in hourly wage and increase in contracted hours. Jim has looked to increase our catering output. Working with EHO, we have developed new paperwork to be able to ramp up our fermentation and preservation activities which are so key to the business.We’ve continued to be part of the centre’s Isolation Grub Club, providing free lunches for the vulnerable in our local community. On top of this we have started to provide vegetables, eggs and dairy to the YourCafe project, as we look to displace supermarket waste to provide forthose struggling.For the first time we’ve worked with York Young Carers, running multiple cooking groups for primary, secondary and young adult ages. And we’ve also looked to generate more revenue through outside catering jobs. The markets have continued much the same.

Consultation with stakeholders

Food Producers -Difficult year for coordination. Market pressures have made for a more individualistic approach. We have worked closer this year with Nigel the Chilliman, developing crop plans to align with market needs. The Orchard Co-op have processed more bottles of juice than ever before. And we continue to welcome new producers to our monthly producer market.The Grain Alliance have continued to meet this year, culminating in a Grain Changers event at Tang Hall in October. It brought together farmers, millers, bakers and the general public from all over Yorkshire and beyond, acting as a successful showcase of the work the Alliance hasbeen doing over the past 3 years.Market Customer base -We picked up a lot of new customers the months immediately after the BBC awards, though the vast majority have not become regulars. With the market becoming busier, it has become increasingly hard to articulate our mission and story. There have not been a lot of opportunities for engagement, though the customer feedback have reinforced the changesthat they would like to see going forward - a more convenient and straightforward service. Unfortunately, we feel more strongly than ever that a move towards convenience is at odds with our vision to build the local food economy.Tang Hall Community Centre -Our relationship with the centre has grown stronger. Difficulties with rising energy costs has been dealt with in an easy and open way. They have been flexible and accommodating.Activists -Increased interest from individuals / community groups and researchers in food production and regenerative systems. We’ve been sent to Scotland on research trip by the Organic Research Centre. Attended Grain Lab in Nottingham. And was a speaker at the Real Farming Conference in January.

Directors' remuneration

Director's salary of £12,570 was paid.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
11 August 2023

And signed on behalf of the board by:
Name: Joseph M Fennerty
Status: Director