HORNINGSEA COMMUNITY INTEREST COMPANY

Company Registration Number:
08704150 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2023

Period of accounts

Start date: 1 October 2022

End date: 30 September 2023

HORNINGSEA COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 September 2023

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

HORNINGSEA COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 September 2023

2023 2022


£

£
Turnover: 35,183 24,407
Cost of sales: ( 16,726 )
Gross profit(or loss): 18,457 24,407
Administrative expenses: ( 43,829 ) ( 4,607 )
Operating profit(or loss): (25,372) 19,800
Interest receivable and similar income: 58 7
Interest payable and similar charges: ( 1,140 ) ( 1,062 )
Profit(or loss) before tax: (26,454) 18,745
Tax: ( 3,371 )
Profit(or loss) for the financial year: (26,454) 15,374

HORNINGSEA COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 September 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 239,395 233,534
Total fixed assets: 239,395 233,534
Current assets
Debtors: 4 675
Cash at bank and in hand: 3,940 12,906
Total current assets: 4,615 12,906
Creditors: amounts falling due within one year: 5 ( 1,062 ) ( 6,380 )
Net current assets (liabilities): 3,553 6,526
Total assets less current liabilities: 242,948 240,060
Creditors: amounts falling due after more than one year: 6 ( 71,322 ) ( 37,276 )
Total net assets (liabilities): 171,626 202,784
Capital and reserves
Called up share capital: 138,380 141,450
Other reserves: 46,450 46,450
Profit and loss account: (13,204 ) 14,884
Total Shareholders' funds: 171,626 202,784

The notes form part of these financial statements

HORNINGSEA COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 September 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 23 December 2023
and signed on behalf of the board by:

Name: Mary Kent
Status: Director

The notes form part of these financial statements

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 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

    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 - Fixture & fittings 20% reducing balancePlant & Machinery 20% reducing balance

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2022 230,126 7,358 8,021 245,505
Additions 8,950 8,950
Disposals
Revaluations
Transfers
At 30 September 2023 230,126 7,358 16,971 254,455
Depreciation
At 1 October 2022 5,974 5,997 11,971
Charge for year 346 2,743 3,089
On disposals
Other adjustments
At 30 September 2023 6,320 8,740 15,060
Net book value
At 30 September 2023 230,126 1,038 8,231 239,395
At 30 September 2022 230,126 1,384 2,024 233,534

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Debtors

2023 2022
£ £
Other debtors 675
Total 675

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 3,934
Accruals and deferred income 1,062 548
Other creditors 1,898
Total 1,062 6,380

HORNINGSEA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

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

2023 2022
£ £
Bank loans and overdrafts 71,322 37,276
Total 71,322 37,276

COMMUNITY INTEREST ANNUAL REPORT

HORNINGSEA COMMUNITY INTEREST COMPANY

Company Number: 08704150 (England and Wales)

Year Ending: 30 September 2023

Company activities and impact

The Company was formed to raise funding to enable the local community to purchase the local village pub and save it from closure. The Investors are typically locals and receive a return of 2.5% on their preference shares which each cost £50 and can purchase an ordinary share for £10.The pub have struggled with tenants over the last year, which has resulted in no profits, but have managed to keep open for the enjoyment of the local community, and to provide a public place.

Consultation with stakeholders

The stakeholders are primarily people living in the local community although some relatives have also become stakeholders. Investment has all been through Horningsea CIC.The pub had to be purchased by the end of December 2013 to meet the time limits stipulated by the pub owners and the national lottery. The purchase of the pub was completed on 10th December 2013 for £205,450. Primarily people are kept updated by way of a newsletter. Feedback and suggestions as to how the pub operates and its offering are raised at regular Board meetings. The Company holds its AGM in the pub and the next one is due to be held in June 2024

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
23 December 2023

And signed on behalf of the board by:
Name: Mary Kent
Status: Director