LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
SC702417 (Scotland)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2023

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

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2023

2023 2022


£

£
Turnover: 83,361 16,470
Cost of sales: ( 3,692 ) ( 11,824 )
Gross profit(or loss): 79,669 4,646
Administrative expenses: ( 76,354 ) ( 3,340 )
Other operating income: 4,087
Operating profit(or loss): 7,402 1,306
Profit(or loss) before tax: 7,402 1,306
Tax: ( 657 ) ( 97 )
Profit(or loss) for the financial year: 6,745 1,209

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 735 762
Total fixed assets: 735 762
Current assets
Debtors: 4 350
Cash at bank and in hand: 10,019 594
Total current assets: 10,019 944
Prepayments and accrued income: 400
Creditors: amounts falling due within one year: 5 ( 2,841 ) ( 897 )
Net current assets (liabilities): 7,178 447
Total assets less current liabilities: 7,913 1,209
Total net assets (liabilities): 7,913 1,209
Members' funds
Profit and loss account: 7,913 1,209
Total members' funds: 7,913 1,209

The notes form part of these financial statements

LOCO HOME RETROFIT 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 14 March 2024
and signed on behalf of the board by:

Name: Beth Ann Mukushi
Status: Director

The notes form part of these financial statements

LOCO HOME RETROFIT 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

    Tangible fixed assets depreciation policy

    Depreciation is calculated on a straight line basis to write off the cost, less estimated residual values, of fixed assets over their estimated useful lives using the following annual rates:Equipment 25%

LOCO HOME RETROFIT 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 2 2

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 798 798
Additions 642 642
Disposals
Revaluations
Transfers
At 30 June 2023 1,440 1,440
Depreciation
At 1 July 2022 36 36
Charge for year 669 669
On disposals
Other adjustments
At 30 June 2023 705 705
Net book value
At 30 June 2023 735 735
At 30 June 2022 762 762

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Debtors

2023 2022
£ £
Other debtors 350
Total   350

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 657 97
Accruals and deferred income 1,384
Other creditors 800 800
Total 2,841 897

COMMUNITY INTEREST ANNUAL REPORT

LOCO HOME RETROFIT COMMUNITY INTEREST COMPANY

Company Number: SC702417 (Scotland)

Year Ending: 30 June 2023

Company activities and impact

Over the year, Loco Home Retrofit CIC Ltd took significant steps towards establishing vital operational and governance structures. This included implementing a structured governance system and expanding the employee base of the CIC.The CIC provided affordable retrofit advice to 51 households. It hosted and contributed to numerous events to promote awareness of effective approaches to decarbonisation retrofit. Research was commissioned into appropriate methods of insulating traditional walls and will inform advice provided to customers where appropriate.Participating in leading edge innovation projects remained a priority, including projects addressing access to finance, digital capabilities for collective retrofit and heat pumps for flats. The CIC also advanced the concept and supporting technology for community-led, neighbourhood-scale deployment of energy efficiency improvements and heat pumps.

Consultation with stakeholders

The key stakeholders are households and various supply chain participants including builders, installers, architects and surveyors. The CIC has a co-operative structure with 155 members at end of June 2023.Five member meetings were held, including the Annual General Meeting. The CIC established an online members forum and instant message feature.Public events were held on a range of topics. Typically webinars, these seven events raised the profile of Retrofit and building decarbonisation topics and ensured opportunities for stakeholders to provide input.Regular communications via channels such as the public email newsletter and social media accounts ensured a broader audience reach than just the members.

Directors' remuneration

The Directors' Remuneration in the period was as follows:Christopher Carus - £26,664Thomas Nockolds - £12,840

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
14 March 2024

And signed on behalf of the board by:
Name: Beth Ann Mukushi
Status: Director