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Tangible assets | 3 |
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Balance Sheet
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The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.
Signed on behalf of the board of directors
...............................
M Murphy
Director
Approved by the board on
Company Number: 02904139 (a Private company limited by guarantee exempt under section 60 registered in England and Wales)
Registered Office:
2nd Floor Ziggurat Vincent Building 52a
Notes to the Accounts
for the year ended
1. | Accounting policies |
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Basis of preparation of financial statements |
Revenue recognition | |
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Agreements receivable (i) Specific projects Agreements received for specific projects are credited against costs as incurred and any unused surplus carried forward. (ii) General purposes Agreements receivable for general purposes are credited on receipt. Subscriptions Subscriptions are received throughout the year and are payable in advance for one year. The amounts prepaid at the 31 March 2023 of £20466 (2022 - £16453) are carried forward to be set against future costs. Grants Grants are recognised when The River Restoration Centre has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. |
Tangible fixed assets depreciation policy | |||
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Other accounting policies | |
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DESIGNATED FUNDS Funds have been designated from the reserves as follows:- Redundancy provision £80976 - 2022 £72045 Bridging provision £265000 - 2022 £265000 Total £345976 - 2022 -£337045 As resolved by the RRC Board at the meeting on 28 January 2021 the annual Bridging provision agreed at six months operating costs is increased to £265000 (2022 - £265000). The provision is being reviewed monthly. |
2. | Employees | |||
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2023 | 2022 | |||
Average number of employees during the period |
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3. | Tangible fixed assets | |||
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Office equipment | Total | |||
Cost or valuation | £ | £ | ||
At 1 April 2022 |
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At 31 March 2023 |
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At 31 March 2023 |
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At 31 March 2022 |
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6. | Company limited by guarantee |
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The company is a company limited by guarantee not having a share capital. At the 31 March 2023 every member of the company undertook to contribute such amount as may be required (not exceeding £10) to the company's assets should it be wound up. |
Related party disclosures | ||
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Controlling party During the year the company paid expenses to the directors as follows: P. J. Boon £370 F. J. Bowles £139 E. H. R. Clear Hill £274 C. L. Rodgers £113 C. A. Skinner £509 C. J. Tipping £122 Total £1527 As resolved by the RRC Board at the meeting on 17 June 2017 the Chair, in recognition of additional work over and above what is expected of directors be remunerated with an award of £3000 per annum to a maximum of £5000 per annum. The award payable in respect of the year ended 31 March is £3000 (2022 - £3000). |
Commitments, guarantees and contingencies | |
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Notes Under an agreement with Cranfield University The River Restoration Centre is required to maintain a redundancy reserve sufficient to cover all redundancy costs that might arise should staff employed by the University and seconded to the River Restoration Centre no longer be required by the River Restoration Centre. At 31 March 2023 the required reserve was £80976 (2022 - £72045). Lease commitment - operating lease (licence to occupy) At the 31 March 2023 the company had an annual commitment of £5000 (2022 - £5000) under an operating lease with Cranfield University which does not have an expiry date and is subject to not less than 90 days notice by either party. Capital, Pension and Other financial commitments guarantees and contingencies The company did not have any capital, pension, or other financial commitments guarantees and contingencies on the 31 March 2023 (2022 - Nil). |
7. | Other information |
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The principal activity of the company in the year under review was that of the development of river restoration as an integral part of sustainable water management. |