G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
06549926 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 15,911 17,883
Investments:   0 0
Total fixed assets: 15,911 17,883
Current assets
Stocks:   0 0
Debtors: 4 37,650 36,642
Cash at bank and in hand: 40,696 24,095
Investments:   0 0
Total current assets: 78,346 60,737
Creditors: amounts falling due within one year: 5 ( 8,735 ) ( 10,024 )
Net current assets (liabilities): 69,611 50,713
Total assets less current liabilities: 85,522 68,596
Creditors: amounts falling due after more than one year: 6 ( 4,512 ) ( 5,712 )
Provision for liabilities: ( 3,023 ) ( 3,398 )
Total net assets (liabilities): 77,987 59,486
Members' funds
Profit and loss account: 77,987 59,486
Total members' funds: 77,987 59,486

The notes form part of these financial statements

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 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.

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 3 November 2023
and signed on behalf of the board by:

Name: S W Wheatley
Status: Director

The notes form part of these financial statements

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 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

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as followsAsset class Depreciation method and rateComputer equipment 33.33% straight line basisMotor vehicles 25% reducing balance basisPlant and machinery 25% reducing balance basis

    Other accounting policies

    Basis of preparationThese financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.Going concernThe financial statements have been prepared on a going concern basis.TaxThe tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.Tangible assetsTangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.Trade debtorsTrade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.Trade creditorsTrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.BorrowingsInterest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.LeasesLeases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.Defined contribution pension obligationA defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 10 9

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 7,161 2,889 32,545 42,595
Additions 1,586 1,529 3,115
Disposals
Revaluations
Transfers
At 31 March 2023 8,747 4,418 32,545 45,710
Depreciation
At 1 April 2022 3,964 2,400 18,348 24,712
Charge for year 990 547 3,550 5,087
On disposals
Other adjustments
At 31 March 2023 4,954 2,947 21,898 29,799
Net book value
At 31 March 2023 3,793 1,471 10,647 15,911
At 31 March 2022 3,197 489 14,197 17,883

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 29,862 23,449
Prepayments and accrued income 1,292 2,383
Other debtors 6,496 10,810
Total 37,650 36,642

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 1,509 882
Taxation and social security 4,767 6,343
Accruals and deferred income 1,716 1,723
Other creditors 743 1,076
Total 8,735 10,024

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

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

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 4,512 5,712
Total 4,512 5,712

COMMUNITY INTEREST ANNUAL REPORT

G & S SERVICES (E.MIDS) COMMUNITY INTEREST COMPANY

Company Number: 06549926 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

We continue to recycle white goods and furniture which we make available for free or below market value to people in need. Charnwood Borough Council have been very helpful in providing us with much needed resource by allowing us to divert these goods from void properties. We continue to operate our four bedded supported accommodation project in Melton Mowbray in Partnership with Green pastures. We are currently planning to develop a similar scheme in Leicestershire. This provides opportunities for residents to get work experience and provides safe and secure accommodation. We have successfully renewed our contract with Charnwood Borough Council providing services including needle sweep collection, refuse in communal areas collection and other ad-hoc services. This is a two-year contract with option to extend.

Consultation with stakeholders

Melton Borough Council Charnwood Borough Council Self-Referrals Community groups

Directors' remuneration

The total Directors Remuneration for the period was £21,397.There were no other transactions to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
3 November 2023

And signed on behalf of the board by:
Name: S W Wheatley
Status: Director