COPPLESTONE RECREATION ASSOCIATION CIC

Company limited by guarantee

Company Registration Number:
05838961 (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

COPPLESTONE RECREATION ASSOCIATION CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

COPPLESTONE RECREATION ASSOCIATION CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 100,615 102,085
Total fixed assets: 100,615 102,085
Current assets
Debtors: 4 210 210
Cash at bank and in hand: 49,839 52,820
Total current assets: 50,049 53,030
Net current assets (liabilities): 50,049 53,030
Total assets less current liabilities: 150,664 155,115
Creditors: amounts falling due after more than one year: 5 ( 22,271 ) ( 28,871 )
Total net assets (liabilities): 128,393 126,244
Members' funds
Profit and loss account: 128,393 126,244
Total members' funds: 128,393 126,244

The notes form part of these financial statements

COPPLESTONE RECREATION ASSOCIATION 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 December 2023
and signed on behalf of the board by:

Name: Ms S Uter
Status: Director

The notes form part of these financial statements

COPPLESTONE RECREATION ASSOCIATION 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

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The company recognises revenue when:The amount of revenue can be reliably measured;it is probably that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:Long leasehold on land - over the term of the leaseOther property, plant and equipment - over 20 years, 10 years or 5 years as appropriate.

    Other accounting policies

    Tangible assetsTangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.Trade debtorsTrade debtors are amounts fur from customers for merchandise sole or services performed in the ordinary course of business.Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.Trade creditorsTrade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reposting period, the defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

COPPLESTONE RECREATION ASSOCIATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 5 6

COPPLESTONE RECREATION ASSOCIATION 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 113,040 7,437 120,477
Additions 267 267
Disposals
Revaluations
Transfers
At 31 March 2023 113,307 7,437 120,744
Depreciation
At 1 April 2022 11,814 6,578 18,392
Charge for year 1,172 565 1,737
On disposals
Other adjustments
At 31 March 2023 12,986 7,143 20,129
Net book value
At 31 March 2023 100,321 294 100,615
At 31 March 2022 101,226 859 102,085

COPPLESTONE RECREATION ASSOCIATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Prepayments and accrued income 210 210
Total 210 210

COPPLESTONE RECREATION ASSOCIATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

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

2023 2022
£ £
Other creditors 22,271 28,871
Total 22,271 28,871

COMMUNITY INTEREST ANNUAL REPORT

COPPLESTONE RECREATION ASSOCIATION CIC

Company Number: 05838961 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

The directors of CRA have continued to focus their efforts on bringing forward the construction of the community hall.During the year the CRA have completed its consultation with RIO - Real Ideas Organisation- and have a full business plan that they can use to fundraise with. Since then the CRA were advised by the Lottery board that the funding available for communities in Devon have been severely cut to £100,000.-, so that the building costs could no longer be fully funded by a successful bid. With build costs steadily increasing as well, the only other option was to consult with the parish council in order to hold a referendum about increasing the precept for the Parish of Copplestone. The Parish Council agree to do this. The consultation period with the stakeholders (village) ran from 27th March 2023 to 28th April 2023.The usual activities of the company have continued throughout the year, namely the upkeep and the maintenance of the grounds and the facilities. The fund-raising team organised a very successful Barn Dance. The 100 Club is still a successful fundraiser for the CRA. This has paid for the upkeep of the grounds.

Consultation with stakeholders

The CRA have successfully co-opted another board member in April 2022.The CRA have since lost two further board members due to the long reaching after-effects of covid-19, one in June 2022 and one in April 2023.The directors are actively looking to co-opt at least on more member to the board.The feedback the directors have received to date has continued to be positive.

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 December 2023

And signed on behalf of the board by:
Name: Ms S Uter
Status: Director