GLENUIGNET COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
SC592993 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

GLENUIGNET COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

GLENUIGNET COMMUNITY INTEREST COMPANY

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

Directors

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

JAMES ROBERT BEGG
ANDREW CLARK
PAMELA MYRA CONACHER
BERNARD MARTYN RUMFITT GREEN
SUE MCCANN
KEITH PATRICK O'CONNOR
WILLIAM WAITES


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
15 November 2023

And signed on behalf of the board by:
Name: SUE MCCANN
Status: Director

GLENUIGNET COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 12,150 10,960
Gross profit(or loss): 12,150 10,960
Administrative expenses: ( 11,232 ) ( 11,212 )
Operating profit(or loss): 918 (252)
Profit(or loss) before tax: 918 (252)
Tax: ( 218 )
Profit(or loss) for the financial year: 700 (252)

GLENUIGNET COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 5,357 6,216
Total fixed assets: 5,357 6,216
Current assets
Cash at bank and in hand: 3,941 2,149
Total current assets: 3,941 2,149
Creditors: amounts falling due within one year: 4 ( 713 ) ( 480 )
Net current assets (liabilities): 3,228 1,669
Total assets less current liabilities: 8,585 7,885
Total net assets (liabilities): 8,585 7,885
Members' funds
Profit and loss account: 8,585 7,885
Total members' funds: 8,585 7,885

The notes form part of these financial statements

GLENUIGNET COMMUNITY INTEREST COMPANY

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 15 November 2023
and signed on behalf of the board by:

Name: PAMELA MYRA CONACHER
Status: Director

The notes form part of these financial statements

GLENUIGNET COMMUNITY INTEREST COMPANY

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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales.

    Tangible fixed assets depreciation policy

    Plant & Machinery - 20% on reducing balance

    Other accounting policies

    TaxationTaxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except in the extent that it relates to items recognised in other comprehensive income or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

GLENUIGNET COMMUNITY INTEREST COMPANY

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 10,261 10,261
Additions 481 481
Disposals
Revaluations
Transfers
At 31 March 2023 10,742 10,742
Depreciation
At 1 April 2022 4,045 4,045
Charge for year 1,340 1,340
On disposals
Other adjustments
At 31 March 2023 5,385 5,385
Net book value
At 31 March 2023 5,357 5,357
At 31 March 2022 6,216 6,216

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 218
Accruals and deferred income 495 480
Total 713 480

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Off balance sheet arrangements

Related Party DisclosureTwo directors received remuneration for the running and administration of the company during the year. Sue McCann received £800 and Pamela Conacher £100 which has been recorded in the financial statements.Andrew Clark, a director invoiced the company for his self employed services for the installation and maintenance of the equipment, a total of £2,275 was paid to him for his services in this financial year.

COMMUNITY INTEREST ANNUAL REPORT

GLENUIGNET COMMUNITY INTEREST COMPANY

Company Number: SC592993 (Scotland)

Year Ending: 31 March 2023

Company activities and impact

The company runs a broadband scheme covering the communities of Drimindarroch, Roshven and Glenuig but is also open to surrounding areas.Their aim is to continually improve the speed and signal of the broadband service in the more rural areas.

Consultation with stakeholders

The stakeholders are the community who all continue to express a keen desire to improve the service provided.They are regularly kept up to date by letter and email.

Directors' remuneration

Two directors received remuneration for the running and administration of the company during the year.Sue McCann receives £800 and Pamela Conacher £100 which has been recorded in the financial statements.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
15 November 2023

And signed on behalf of the board by:
Name: PAMELA CONACHER
Status: Director