LIGHTING UP BRIXHAM CIC

Company limited by guarantee

Company Registration Number:
12483549 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

LIGHTING UP BRIXHAM CIC

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LIGHTING UP BRIXHAM CIC

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 10,282 12,311
Total fixed assets: 10,282 12,311
Current assets
Cash at bank and in hand: 23,010 42,632
Total current assets: 23,010 42,632
Creditors: amounts falling due within one year: 4 ( 3,080 ) ( 9,311 )
Net current assets (liabilities): 19,930 33,321
Total assets less current liabilities: 30,212 45,632
Total net assets (liabilities): 30,212 45,632
Members' funds
Profit and loss account: 30,212 45,632
Total members' funds: 30,212 45,632

The notes form part of these financial statements

LIGHTING UP BRIXHAM CIC

Balance sheet statements

For the year ending 28 February 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 4 November 2023
and signed on behalf of the board by:

Name: Neil Leslie Worrell
Status: Director

The notes form part of these financial statements

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 28 February 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

    Income is recognised on the date of receipt.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and Machinery - 15% reducing balance Computer equipment - 25% straight line

    Other accounting policies

    TaxationThis organisation is a community interest company (CIC).There is no share capital. (This is a company limited by guarantee).Under the company's articles there is an 'asset lock' on the company assets to prevent assets being distributed and it is also required to satisfy a community interest test. Profits and assets are retained within the CIC for community purposes, but they can also be transferred to another similar organisation such as another CIC or a charity, e.g. if the CIC is dissolved.Although a CIC cannot itself have charitable status, we take the view that this company's activities are 'mutual' in nature and therefore do not amount to a taxable trade. Accordingly, profit chargeable to corporation tax includes only interest earned and excludes surpluses and losses. The director does not consider that a trade is carried out.

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 13,602 999 14,601
Additions
Disposals
Revaluations
Transfers
At 28 February 2023 13,602 999 14,601
Depreciation
At 1 March 2022 2,040 250 2,290
Charge for year 1,779 250 2,029
On disposals
Other adjustments
At 28 February 2023 3,819 500 4,319
Net book value
At 28 February 2023 9,783 499 10,282
At 28 February 2022 11,562 749 12,311

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 3,080 9,311
Total 3,080 9,311

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Loans to directors

During the year the director made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £2,330 (2022 - £8,681).During the year no remuneration was paid to the director Mr N Worrell.

COMMUNITY INTEREST ANNUAL REPORT

LIGHTING UP BRIXHAM CIC

Company Number: 12483549 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

This year we have replaced and improved signage on the Brixham breakwater including creating and installing new town maps. We have provided town seasonal lighting on various buildings and we have now laid 18 cast iron full size plates on our ‘Brixham’s Walk’ which is a series of nameplates celebrating locals and visitors who have their names cast within the floor plates. We have been commissioning and designing these and thefirst plates were laid two years ago. All of the above activities provide valuable town improvements for both residents and leisure visitors to this seaside town.

Consultation with stakeholders

We now have over 600 names on Brixham’s Walk and we are also discussing other ideas with the community for further permanent town improvements, including but not limited to ideas for the redevelopment of the central town car park, a proposal for new granite benches along the length of the Breakwater and for repainting key buildings around the harbour to improve the general appearance of the town.

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 October 2023

And signed on behalf of the board by:
Name: Neil Leslie Worrell
Status: Director