IONA COMMUNITY TRADING C.I.C.

Company Registration Number:
SC156678 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

IONA COMMUNITY TRADING C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2022

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

IONA COMMUNITY TRADING C.I.C.

Directors' report period ended 31 December 2022

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

Principal activities of the company

The principal activity of the company during the year was that of retailing books and crafts



Directors

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

Grant Jarvie
Joanna Morling
Ron Reid


Secretary Robert McLean

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
10 May 2023

And signed on behalf of the board by:
Name: Grant Jarvie
Status: Director

IONA COMMUNITY TRADING C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 239,399 148,511
Cost of sales: ( 132,144 ) ( 77,137 )
Gross profit(or loss): 107,255 71,374
Distribution costs: ( 631 )
Administrative expenses: ( 83,817 ) ( 59,866 )
Other operating income: 895
Operating profit(or loss): 22,807 12,403
Interest payable and similar charges: ( 1,250 ) ( 1,250 )
Profit(or loss) before tax: 21,557 11,153
Profit(or loss) for the financial year: 21,557 11,153

IONA COMMUNITY TRADING C.I.C.

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Current assets
Stocks: 3 76,639 61,219
Debtors: 4 1,130 835
Cash at bank and in hand: 51,164 116,782
Total current assets: 128,933 178,836
Creditors: amounts falling due within one year: 5 ( 45,870 ) ( 117,330 )
Net current assets (liabilities): 83,063 61,506
Total assets less current liabilities: 83,063 61,506
Creditors: amounts falling due after more than one year: 6 ( 50,000 ) ( 50,000 )
Total net assets (liabilities): 33,063 11,506
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 32,963 11,406
Total Shareholders' funds: 33,063 11,506

The notes form part of these financial statements

IONA COMMUNITY TRADING C.I.C.

Balance sheet statements

For the year ending 31 December 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.

This report was approved by the board of directors on 10 May 2023
and signed on behalf of the board by:

Name: Grant Jarvie
Status: Director

The notes form part of these financial statements

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 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

    Tangible fixed assets depreciation policy

    DepreciationDepreciation 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:Computer Equipment 20% straight line

    Other accounting policies

    See uploaded Statement

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 2 2

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Stocks

2022 2021
£ £
Stocks 76,639 61,219
Total 76,639 61,219

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Debtors

2022 2021
£ £
Trade debtors 789 822
Other debtors 341 13
Total 1,130 835

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 561 1,671
Other creditors 45,309 115,659
Total 45,870 117,330

IONA COMMUNITY TRADING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2022

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

2022 2021
£ £
Other creditors 50,000 50,000
Total 50,000 50,000

COMMUNITY INTEREST ANNUAL REPORT

IONA COMMUNITY TRADING C.I.C.

Company Number: SC156678 (Scotland)

Year Ending: 31 December 2022

Company activities and impact

The Companies primary activity in 2022 was retail. Our shop on the Island of Iona primarily sells religious books and other religious items and also general gifts. This supports one of the key Charitable objectives of the Iona Community - renewal of worship - and also provided financial support with all profits being passed to the charity.

Consultation with stakeholders

The sole shareholder in the CIC is The Iona Community. Directors of the Company report to the Trustees of the shareholder 5 times per year. The Directors are all Trustees or Senior Employees of the Shareholder Charity

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
10 May 2023

And signed on behalf of the board by:
Name: Robert McLean - Company Secretary
Status: Director