LOGIE FAST BROADBAND CIC

Company limited by guarantee

Company Registration Number:
SC541814 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

LOGIE FAST BROADBAND CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

LOGIE FAST BROADBAND CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The company's principal activity during the year continued to be wireless telecommunications activities in the local community.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Thomas Cox
Angus Gibson Annan
Brian Paget


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
2 April 2024

And signed on behalf of the board by:
Name: Thomas Cox
Status: Director

LOGIE FAST BROADBAND CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 0
Cost of sales: ( 6,600 ) ( 8,282 )
Gross profit(or loss): (6,600) (8,282)
Administrative expenses: ( 2,550 ) ( 545 )
Operating profit(or loss): (9,150) (8,827)
Profit(or loss) before tax: (9,150) (8,827)
Profit(or loss) for the financial year: (9,150) (8,827)

LOGIE FAST BROADBAND CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 0 2,169
Total fixed assets: 0 2,169
Current assets
Debtors: 4 3 273
Cash at bank and in hand: 9 6,802
Total current assets: 12 7,075
Creditors: amounts falling due within one year: 5 ( 12 ) ( 94 )
Net current assets (liabilities): 0 6,981
Total assets less current liabilities: 0 9,150
Total net assets (liabilities): 0 9,150
Members' funds
Profit and loss account: 0 9,150
Total members' funds: 0 9,150

The notes form part of these financial statements

LOGIE FAST BROADBAND CIC

Balance sheet statements

For the year ending 31 March 2024 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 2 April 2024
and signed on behalf of the board by:

Name: Thomas Cox
Status: Director

The notes form part of these financial statements

LOGIE FAST BROADBAND CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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 rendering of services and grants received. 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 from grants is recognised when the money is received.

    Tangible fixed assets depreciation policy

    Plant and Machinery - 5/8 years straight line.

LOGIE FAST BROADBAND CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

LOGIE FAST BROADBAND CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 3,333 3,333
Additions
Disposals ( 3,333 ) ( 3,333 )
Revaluations
Transfers
At 31 March 2024 0 0
Depreciation
At 1 April 2023 1,164 1,164
Charge for year 611 611
On disposals ( 1,775 ) ( 1,775 )
Other adjustments
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 2,169 2,169

LOGIE FAST BROADBAND CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 270
Other debtors 3 3
Total 3 273

LOGIE FAST BROADBAND CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 94
Accruals and deferred income 12
Total 12 94

COMMUNITY INTEREST ANNUAL REPORT

LOGIE FAST BROADBAND CIC

Company Number: SC541814 (Scotland)

Year Ending: 31 March 2024

Company activities and impact

The company provides fast broadband services to the Logie community. The activities of the company have benefited the community in the following ways:A mix of households and businesses have been able to access fast broadband services, not formerly available here.Small businesses have been able to set up websites to attract customers.New young people have moved into vacant properties on the basis that they will be able to work from home on the Internet. This is reversing the ossification of the village.Awareness of the importance of digital services has been raised in the community. During the Covid period the service was vital for pupils who could not attend school.

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
2 April 2024

And signed on behalf of the board by:
Name: Thomas Cox
Status: Director