LARC DEVELOPMENT TRUST

Company limited by guarantee

Company Registration Number:
03493040 (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

LARC DEVELOPMENT TRUST

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

LARC DEVELOPMENT TRUST

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The preservation of buildings or sites of historical or architectural importance, in particular but not exclusively the building known asgrange court, for the public benefit and to advance the education of the public in the history of the building and its surroundings.LARC owns and operates Grange Court in Leominster as a heritage, community and enterprise hub.It is working with community and voluntary groups across the area to promote its charitable objectives.



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

Martin Baines
Peter Hadley
Felicity Norman
John Stone
Russell Sutcliffe
Jacqueline Herschy
Stephen Thornhill


The director shown below has held office during the period of
14 March 2023 to 31 March 2023

Lucinda Rowberry


The director shown below has held office during the period of
5 October 2022 to 31 March 2023

Patricia Pothecary


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
17 October 2023

And signed on behalf of the board by:
Name: Jacqueline Herschy
Status: Director

LARC DEVELOPMENT TRUST

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 183,831 143,384
Cost of sales: ( 144,822 ) ( 91,957 )
Gross profit(or loss): 39,009 51,427
Distribution costs: 0 0
Administrative expenses: ( 31,029 ) ( 22,922 )
Operating profit(or loss): 7,980 28,505
Interest payable and similar charges: ( 9,899 )
Profit(or loss) before tax: 7,980 18,606
Profit(or loss) for the financial year: 7,980 18,606

LARC DEVELOPMENT TRUST

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,820,323 2,809,251
Total fixed assets: 2,820,323 2,809,251
Current assets
Debtors: 4 9,020 4,380
Cash at bank and in hand: 91,403 94,959
Total current assets: 100,423 99,339
Creditors: amounts falling due within one year: 5 ( 34,738 ) ( 30,562 )
Net current assets (liabilities): 65,685 68,777
Total assets less current liabilities: 2,886,008 2,878,028
Total net assets (liabilities): 2,886,008 2,878,028
Members' funds
Profit and loss account: 2,886,008 2,878,028
Total members' funds: 2,886,008 2,878,028

The notes form part of these financial statements

LARC DEVELOPMENT TRUST

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.

This report was approved by the board of directors on 17 October 2023
and signed on behalf of the board by:

Name: Jacqueline Herschy
Status: Director

The notes form part of these financial statements

LARC DEVELOPMENT TRUST

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

    Tangible fixed assets depreciation policy

    10% Solar Panels20% Plant & Machinery15% Fixtures & Fittings

LARC DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 9 7

LARC DEVELOPMENT TRUST

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 2,800,000 4,225 15,820 6,504 2,826,549
Additions 14,014 14,014
Disposals
Revaluations
Transfers
At 31 March 2023 2,800,000 4,225 29,834 6,504 2,840,563
Depreciation
At 1 April 2022 4,225 7,546 5,527 17,298
Charge for year 0 2,292 650 2,942
On disposals
Other adjustments
At 31 March 2023 4,225 9,838 6,177 20,240
Net book value
At 31 March 2023 2,800,000 0 19,996 327 2,820,323
At 31 March 2022 2,800,000 0 8,274 977 2,809,251

LARC DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 7,558 3,404
Prepayments and accrued income 1,462 976
Total 9,020 4,380

LARC DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 10,007 5,455
Taxation and social security 1,288 2,068
Accruals and deferred income 14,951 22,435
Other creditors 8,492 604
Total 34,738 30,562