LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
11429918 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2023

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

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Directors' report period ended 30 June 2023

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

Principal activities of the company

The objects of the Company are to carry on practical activities benefiting the community and in particular (without limitation) to enhance the experience of living, working and visiting North Chingford, principally by enhancing and sustaining the village environment of the Town Centre (including the Chingford Green and North Chingford Conservation Areas) and making it a place to be proud of. The company aims to further develop the sense of community by taking positive actions to enhance the environment, arranging events, activities and supporting local businesses and arts.



Directors

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

Roger Brown
Stephen Murphy
Silvia Garrido Kemp
Elizabeth Murray
Juliana Roche
Lawrence Curtis


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
20 January 2024

And signed on behalf of the board by:
Name: Roger Brown
Status: Director

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2023

2023 2022


£

£
Turnover: 25,749 58,285
Cost of sales: ( 28,083 ) ( 50,960 )
Gross profit(or loss): (2,334) 7,325
Operating profit(or loss): (2,334) 7,325
Profit(or loss) before tax: (2,334) 7,325
Profit(or loss) for the financial year: (2,334) 7,325

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 12,048 0
Cash at bank and in hand: 1,883 16,265
Total current assets: 13,931 16,265
Net current assets (liabilities): 13,931 16,265
Total assets less current liabilities: 13,931 16,265
Total net assets (liabilities): 13,931 16,265
Members' funds
Profit and loss account: 13,931 16,265
Total members' funds: 13,931 16,265

The notes form part of these financial statements

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 June 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 20 January 2024
and signed on behalf of the board by:

Name: Roger Brown
Status: Director

The notes form part of these financial statements

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 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 primarily comes from grant income, and donations are also received regularly.Income included as revenue grants is recognised when the entity is legally entitled to the income and when any performance related conditions are met.

    Other accounting policies

    Corporation taxFor corporation tax purposes, the company was classified as dormant during the period, as it is not deemed to undertake a trade. Love North Chingford was set up to carry out small environmental improvements such as planting flower beds in the local area, and is currently funded by grants from the local authority, supplemented by occasional voluntary donations. It generally issues no invoices and does not generate income from a trade. Generally each project income is balanced by expenditure, monitored by the local authority. Year end balances carried forward include grant funds paid advance for outstanding projects. Financial instrumentsClassificationThe company holds the following financial instruments:Short term other debtors and creditorsCash and bank balancesAll financial instruments are classified as basic. Recognition and measurementThe company has chosen to apply the recognition and measurement principles in FRS 102. Financial instruments are recognised when the company becomes party to contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid, or received, after taking account of impairment adjustments. Provision for LiabilitiesProvisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Debtors

2023 2022
£ £
Prepayments and accrued income 12,048 0
Total 12,048 0

COMMUNITY INTEREST ANNUAL REPORT

LOVE NORTH CHINGFORD COMMUNITY INTEREST COMPANY

Company Number: 11429918 (England and Wales)

Year Ending: 30 June 2023

Company activities and impact

The objects of the Company are to carry on practical activities benefiting the community and in particular (without limitation) to enhance the experience of living, working and visiting North Chingford, principally by enhancing and sustaining the village environment of the Town Centre (including the Chingford Green and North Chingford Conservation Areas) and making it a place to be proud of. The company aims to further develop the sense of community by taking positive actions to enhance the environment, arranging events, activities and supporting local businesses and arts.

Consultation with stakeholders

Online supporters e-group discussions, open meetings, annual display of output and achievements at Village Festival

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 January 2024

And signed on behalf of the board by:
Name: Roger Brown
Status: Director