CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
10682176 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 November 2023

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

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 30 November 2023

Celia Strange
Charles Etty-Leal
Prof. Kenton Morgan
Andrew Kirkpatrick


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
5 April 2024

And signed on behalf of the board by:
Name: Prof. Kenton Morgan
Status: Director

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 16,532 24,368
Cost of sales: ( 11,131 ) ( 14,188 )
Gross profit(or loss): 5,401 10,180
Administrative expenses: ( 18,610 ) ( 17,427 )
Other operating income: 13,220 15,503
Operating profit(or loss): 11 8,256
Interest payable and similar charges: ( 11 ) ( 598 )
Profit(or loss) before tax: 0 7,658
Tax: ( 381 )
Profit(or loss) for the financial year: 0 7,277

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 121,316 129,697
Total fixed assets: 121,316 129,697
Current assets
Debtors: 4 873 892
Cash at bank and in hand: 11,302 14,697
Total current assets: 12,175 15,589
Creditors: amounts falling due within one year: 5 ( 14,604 ) ( 17,813 )
Net current assets (liabilities): (2,429) (2,224)
Total assets less current liabilities: 118,887 127,473
Creditors: amounts falling due after more than one year: 6 ( 111,610 ) ( 120,196 )
Total net assets (liabilities): 7,277 7,277
Members' funds
Profit and loss account: 7,277 7,277
Total members' funds: 7,277 7,277

The notes form part of these financial statements

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 November 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 5 April 2024
and signed on behalf of the board by:

Name: Prof. Kenton Morgan
Status: Director

The notes form part of these financial statements

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Plant & Machinery - 20% Straight LineMotor Vehicles - 5% Straight LineComputer Equipment - 33% Straight Line

    Other accounting policies

    2.4. TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.2.5. Government GrantGovernment grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 2,308 491 172,497 175,296
Additions 360 360
Disposals
Revaluations
Transfers
At 30 November 2023 2,668 491 172,497 175,656
Depreciation
At 1 December 2022 2,180 491 42,928 45,599
Charge for year 116 8,625 8,741
On disposals
Other adjustments
At 30 November 2023 2,296 491 51,553 54,340
Net book value
At 30 November 2023 372 0 120,944 121,316
At 30 November 2022 128 0 129,569 129,697

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Debtors

2023 2022
£ £
Prepayments and accrued income 867 892
Other debtors 6
Total 873 892

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 750 740
Other creditors 13,854 17,073
Total 14,604 17,813

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

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

2023 2022
£ £
Other creditors 111,610 120,196
Total 111,610 120,196

COMMUNITY INTEREST ANNUAL REPORT

CARMARTHEN BAY FERRIES COMMUNITY INTEREST COMPANY

Company Number: 10682176 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

The company's ferry operation and boat trip services ran as normal during this financial year.

Consultation with stakeholders

No consultation with stakeholders

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
5 April 2024

And signed on behalf of the board by:
Name: Prof. Kenton Morgan
Status: Director