LIGHTING UP BRIXHAM CIC

Company limited by guarantee

Company Registration Number:
12483549 (England and Wales)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

LIGHTING UP BRIXHAM CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LIGHTING UP BRIXHAM CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 8,564 10,282
Total fixed assets: 8,564 10,282
Current assets
Cash at bank and in hand: 33,377 23,010
Total current assets: 33,377 23,010
Creditors: amounts falling due within one year: 4 ( 2,909 ) ( 3,080 )
Net current assets (liabilities): 30,468 19,930
Total assets less current liabilities: 39,032 30,212
Total net assets (liabilities): 39,032 30,212
Members' funds
Profit and loss account: 39,032 30,212
Total members' funds: 39,032 30,212

The notes form part of these financial statements

LIGHTING UP BRIXHAM CIC

Balance sheet statements

For the year ending 29 February 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 9 April 2024
and signed on behalf of the board by:

Name: Neil Worrell
Status: Director

The notes form part of these financial statements

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 29 February 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

    Income is recognised on the date of receipt.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and Machinery - 15% reducing balance Computer equipment - 25% straight line

    Other accounting policies

    TaxationThis organisation is a community interest company (CIC).There is no share capital. (This is a company limited by guarantee).Under the company's articles there is an 'asset lock' on the company assets to prevent assets being distributed and it is also required to satisfy a community interest test. Profits and assets are retained within the CIC for community purposes, but they can also be transferred to another similar organisation such as another CIC or a charity, e.g. if the CIC is dissolved.Although a CIC cannot itself have charitable status, we take the view that this company's activities are 'mutual' in nature and therefore do not amount to a taxable trade. Accordingly, profit chargeable to corporation tax includes only interest earned and excludes surpluses and losses. The director does not consider that a trade is carried out.

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 13,602 999 14,601
Additions
Disposals
Revaluations
Transfers
At 29 February 2024 13,602 999 14,601
Depreciation
At 1 March 2023 3,819 500 4,319
Charge for year 1,468 250 1,718
On disposals
Other adjustments
At 29 February 2024 5,287 750 6,037
Net book value
At 29 February 2024 8,315 249 8,564
At 28 February 2023 9,783 499 10,282

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 2,909 3,080
Total 2,909 3,080

LIGHTING UP BRIXHAM CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Loans to directors

During the year the director made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £2,034 (2023 - £2,330).During the year no remuneration was paid to the director Mr N Worrell.

COMMUNITY INTEREST ANNUAL REPORT

LIGHTING UP BRIXHAM CIC

Company Number: 12483549 (England and Wales)

Year Ending: 29 February 2024

Company activities and impact

This year we have replaced and improved public signage on the Brixham Breakwater including a new town map both here and adjacent to the Brixham Fishmarket.We have maintained the town lights (Main light on the Fishmarket) and provided a "free" Brixham map to shops and premises around the town.We have added five new plates to “Brixham’s Walk of Fame” on the breakwater, which is a series of cast iron plates celebrating locals and visitors who have their names cast into the floor plates.We have commissioned and designed these, and new plates are currently being cast ready for laying (which will bring the total to 17 plates).

Consultation with stakeholders

We have reached out to the community and more than five hundred people have now chosen to be Represented on the cast iron plates of Brixham's Walk of Fame.All surplus funds will be invested in permanent town improvements and we have already received a number of ideas including redeveloping the main central Brixham car park area.We are also interested in working on ideas to improve the large unsightly "brownfield" sites in the town to create new public facilities and spaces such as gardens and on murals.

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
9 April 2024

And signed on behalf of the board by:
Name: Neil Worrell
Status: Director