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REGISTERED NUMBER: 09176463 (England and Wales)










TRANSITION COMMUNITY VENTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TRANSITION COMMUNITY VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: T R E Latter
J A Moffett





REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembs
SA61 2BP





REGISTERED NUMBER: 09176463 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 1

CURRENT ASSETS
Debtors 5 1,500 1,500
Cash at bank 22,424 40,486
23,924 41,986
CREDITORS
Amounts falling due within one year 6 819 693
NET CURRENT ASSETS 23,105 41,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,106

41,294

CREDITORS
Amounts falling due after more than one
year

7

-

30,400
NET ASSETS 23,106 10,894

RESERVES
Income and expenditure account 23,106 10,894
23,106 10,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:




J A Moffett - Director



T R E Latter - Director


TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Transition Community Ventures Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,500 1,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 819 693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors - 30,400

The loans repayable in more than one year nil (2022 £14,100) are due for repayment in 2023 and are at an interest rate of 4%. Loans of nil (2022 £16,300) are due for repayment in 2024 and are at an interest rate of 5%.

TRANSITION COMMUNITY VENTURES LIMITED (REGISTERED NUMBER: 09176463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. RELATED PARTY DISCLOSURES

Details of related party transactions are as follows:-

Abergwaun Community Turbines Limited
£

Loan -

Transfer -

Interest charge -

Interest charge: 4% on a pro rata basis

Related party transactions for the year ended 28 February 2022

Abergwaun Community Turbines Limited
£

Loan -

Transfer 1,500

Interest charge 487

Interest charge: 4% on a pro rata basis

9. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. The liability of the member in the event of liquidation is limited to £1.

10. GIFT AID DISTRIBUTION TO PARENT COMPANY

A qualifying charitable donation was made to the parent company of £34,000 during the year.

11. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Transition Bro Gwaun Ltd, a charitable company incorporated in England and Wales (reg no: 07685740). The registered address of the parent company is 45 High Street, Haverfordwest, Pembrokeshire, SA61 2BP.