Company registration number 02476951 (England and Wales)
STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
343,859
356,885
Current assets
Debtors
5
14,977
21,530
Cash at bank and in hand
212,227
186,947
227,204
208,477
Creditors: amounts falling due within one year
6
(18,943)
(18,956)
Net current assets
208,261
189,521
Net assets
552,120
546,406
Reserves
Other reserves
611,825
611,825
Income and expenditure account
(59,705)
(65,419)
Members' funds
552,120
546,406

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 15 November 2023 and are signed on its behalf by:
Mrs S Williams
Director
Company Registration No. 02476951
STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Stoke-on-Trent Community Partnership Railway Enterprise Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Railway Enterprise Centre, Shelton New Road, Stoke-on-Trent, Staffordshire, ST4 7SH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line over period of lease
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

 

 

 

STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
724,678
25,675
750,353
Depreciation and impairment
At 1 April 2022
369,558
23,910
393,468
Depreciation charged in the year
12,585
441
13,026
At 31 March 2023
382,143
24,351
406,494
Carrying amount
At 31 March 2023
342,535
1,324
343,859
At 31 March 2022
355,120
1,765
356,885
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade Debtors
1,239
3,073
Other debtors
13,738
18,457
14,977
21,530
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
7,564
8,714
Rents received in advance
-
0
1,805
Other creditors
11,379
8,437
18,943
18,956
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

STOKE-ON-TRENT COMMUNITY PARTNERSHIP RAILWAY ENTERPRISE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Karen Staley FCA BSc (Hons)
Statutory Auditor:
Geens Limited
9
Operating lease commitments
Lessee

The Railway Enterprise Centre is held by the company on a lease for a 60 year term which commenced on 7th March 1990, subject to a 5 year rent review but no break clause. At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £1.755million at the current rental value.

2023-03-312022-04-01false15 November 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedS WilliamsMr J CroweMr M W HerbertMr G Riley024769512022-04-012023-03-31024769512023-03-31024769512022-03-3102476951core:LandBuildings2023-03-3102476951core:OtherPropertyPlantEquipment2023-03-3102476951core:LandBuildings2022-03-3102476951core:OtherPropertyPlantEquipment2022-03-3102476951core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102476951core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3102476951core:CurrentFinancialInstruments2023-03-3102476951core:CurrentFinancialInstruments2022-03-3102476951core:OtherMiscellaneousReserve2023-03-3102476951core:OtherMiscellaneousReserve2022-03-3102476951core:RetainedEarningsAccumulatedLosses2023-03-3102476951core:RetainedEarningsAccumulatedLosses2022-03-3102476951bus:Director12022-04-012023-03-3102476951core:LandBuildingscore:LongLeaseholdAssets2022-04-012023-03-3102476951core:FurnitureFittings2022-04-012023-03-3102476951core:ComputerEquipment2022-04-012023-03-31024769512021-04-012022-03-3102476951core:LandBuildings2022-03-3102476951core:OtherPropertyPlantEquipment2022-03-31024769512022-03-3102476951core:LandBuildings2022-04-012023-03-3102476951core:OtherPropertyPlantEquipment2022-04-012023-03-3102476951core:WithinOneYear2023-03-3102476951core:WithinOneYear2022-03-3102476951core:CurrentFinancialInstruments12023-03-3102476951core:CurrentFinancialInstruments12022-03-3102476951bus:CompanyLimitedByGuarantee2022-04-012023-03-3102476951bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3102476951bus:FRS1022022-04-012023-03-3102476951bus:Audited2022-04-012023-03-3102476951bus:Director22022-04-012023-03-3102476951bus:Director32022-04-012023-03-3102476951bus:Director42022-04-012023-03-3102476951bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP