ELECTRIC CORBY CIC

Company limited by guarantee

Company Registration Number:
08073299 (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

ELECTRIC CORBY CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ELECTRIC CORBY CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 3,622 4,627
Investments: 4 1 1
Total fixed assets: 3,623 4,628
Current assets
Debtors: 5 165,267 99,162
Cash at bank and in hand: 113,513 38,355
Total current assets: 278,780 137,517
Creditors: amounts falling due within one year: 6 ( 209,354 ) ( 266,756 )
Net current assets (liabilities): 69,426 (129,239)
Total assets less current liabilities: 73,049 ( 124,611)
Creditors: amounts falling due after more than one year: 7 ( 277,031 ) ( 435,222 )
Total net assets (liabilities): (203,982) (559,833)
Members' funds
Profit and loss account: (203,982) ( 559,833)
Total members' funds: ( 203,982) (559,833)

The notes form part of these financial statements

ELECTRIC CORBY CIC

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 20 October 2023
and signed on behalf of the board by:

Name: K Routledge
Status: Director

The notes form part of these financial statements

ELECTRIC CORBY CIC

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

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 4 4

ELECTRIC CORBY CIC

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 19,520 2,787 22,307
Additions
Disposals
Revaluations
Transfers
At 31 March 2023 19,520 2,787 22,307
Depreciation
At 1 April 2022 15,081 2,599 17,680
Charge for year 913 92 1,005
On disposals
Other adjustments
At 31 March 2023 15,994 2,691 18,685
Net book value
At 31 March 2023 3,526 96 3,622
At 31 March 2022 4,439 188 4,627

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Fixed assets investments note

Shares in group undertakings and participating interests

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
£ £
Other debtors 165,267 99,162
Total 165,267 99,162

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 99,003 116,246
Taxation and social security 25,841 26,635
Other creditors 84,510 123,875
Total 209,354 266,756

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

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

2023 2022
£ £
Bank loans and overdrafts 45,280 50,000
Other creditors 231,751 385,222
Total 277,031 435,222

COMMUNITY INTEREST ANNUAL REPORT

ELECTRIC CORBY CIC

Company Number: 08073299 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

Electric Corby was established by Corby Borough Council, CENEX and the private sector, as a Community Interest Company, to attract world leaders in clean technology to Corby, by becoming the UK's practical, community scale test centre for energy efficient living and low carbon vehicles.Aiming to generate new employment opportunities with low carbon, low energy focus to match the high level of population growth in the area, Electric Corby CIC will help the town become one of the most environmentally and economically sustainable areas in the UK.The CIC has been the catalyst for the development of 47 Net Zero Carbon Homes, and has attracted EU Research and Development funded projects (ReCognition and FlexUnity) to develop renewable energy systems and flexible grid solutions to benefit business growth. The CIC has also directly supported Corby residents with assistance to switch energy suppliers and make home improvements, to reduce fuel poverty.

Consultation with stakeholders

The ultimate beneficiaries of the Community Interest Company are the Corby community and it's key stakeholders, which also includes the Corby private sector. It is a true public private partnership.To ensure stakeholders and beneficiaries are constantly consulted, the board comprises of local councillors who represent the Corby community, key stakeholders who formed thecompany, Corby Borough Council and CENEX in addition to the private sector.

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
20 October 2023

And signed on behalf of the board by:
Name: Mr K Routledge
Status: Director