REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
GROWING COMMUNITIES |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
GROWING COMMUNITIES |
GROWING COMMUNITIES (REGISTERED NUMBER: 03438761) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GROWING COMMUNITIES |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Corner Oak |
1 Homer Road |
Solihull |
B91 3QG |
GROWING COMMUNITIES (REGISTERED NUMBER: 03438761) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Other reserves | 7 |
Retained earnings | 7 |
MEMBERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GROWING COMMUNITIES (REGISTERED NUMBER: 03438761) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Growing Communities is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Leasehold property | - |
Office equipment | - |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Turnover |
Turnover represents sales of organic vegetables which are sold through the company's weekly box scheme, proceeds from the running of a farmers market together with grants and donations received. Grants and donations are brought into account on receipt unless their receipt is reasonably certain in which case they are brought into account when notified. Grants received in advance are shown as deferred income (within creditors) and are taken to income when conditions for these are satisfied. |
In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion of the work. |
Financial instruments |
To reflect the principles based approach to preparing financial statements it is necessary to define a number of concepts previously known as assets, liabilities and equity. Financial instruments is the collective name for these; financial instruments are classified and accounted for, according to the substance of the contractual arrangement under which they arise. They are classified as either financial assets, financial liabilities or equity instruments. |
Loan reserve |
Funds provided to the company for the purpose of making loans to other organisations who undertake similar activities are taken directly to a special reserve which is separated into subfunds for distributed and undistributed funds. Interest arising from such funds will be taken to the profit and loss account. Bad debts arising from loans made are written off to the reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GROWING COMMUNITIES (REGISTERED NUMBER: 03438761) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Office |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
7. | RESERVES |
Undistributed loan funds | Profit and loss account | Totals |
£ | £ | £ |
At 1 April 2022 | 45,438 | 242,402 | 287,840 |
Profit for the year | - | 7,214 | 7,214 |
Distribution of loan funds | (45,438 | ) | (45,438 | ) |
At 31 March 2023 | - | 249,616 | 249,616 |
8. | COMPANY LIMITED BY GUARANTEE |
The company is limited by guarantee. In the event that the company is wound up, the member's liability will not exceed £1 each. |