PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12340762 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 496 1,041
Total fixed assets: 496 1,041
Current assets
Debtors: 4 0 12,000
Cash at bank and in hand: 1,007 744
Total current assets: 1,007 12,744
Creditors: amounts falling due within one year: 5 ( 11,494 ) ( 19,278 )
Net current assets (liabilities): (10,487) (6,534)
Total assets less current liabilities: (9,991) ( 5,493)
Total net assets (liabilities): (9,991) (5,493)
Members' funds
Profit and loss account: (9,991) ( 5,493)
Total members' funds: ( 9,991) (5,493)

The notes form part of these financial statements

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 November 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.

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 27 July 2024
and signed on behalf of the board by:

Name: John-Paul Anderson
Status: Director

The notes form part of these financial statements

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 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

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 2,064 2,064
Additions
Disposals
Revaluations
Transfers
At 30 November 2023 2,064 2,064
Depreciation
At 1 December 2022 1,023 1,023
Charge for year 545 545
On disposals
Other adjustments
At 30 November 2023 1,568 1,568
Net book value
At 30 November 2023 496 496
At 30 November 2022 1,041 1,041

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Debtors

2023 2022
£ £
Trade debtors 0 12,000
Total 0 12,000

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 1,440 2,150
Accruals and deferred income 12,000
Other creditors 10,054 5,128
Total 11,494 19,278

COMMUNITY INTEREST ANNUAL REPORT

PROFIT FREE HOMES COMMUNITY INTEREST COMPANY

Company Number: 12340762 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

The company has continued its work to building a community based online app to help increase accessibility to affordable mortgages, and in turn, housing.The main website has been developed and the launch of general membership has helped individuals to join the community and contribute to its goals and the design of the service. Revenues have continued to support to growth of the business.The company helps people across the UK who are challenged by access to the current mortgage market to connect with a potentially better financial future and participate in shaping how that future is delivered.

Consultation with stakeholders

The stakeholders of the company are the members who join to help build a collection of people willing to work together to deliver a fairer mortgage offering. The Directors of the business are experienced online platform architects who are invested in building and deploying the services the membership require.All new members answer a set of questions on joining to contribute to the direction and scope of the project. Members are also consulted on an ongoing basis through online surveys about key decisions being made in the design of the platform.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by the Directors in respect of qualifying services is detailed in the accounts.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 July 2024

And signed on behalf of the board by:
Name: John-Paul Anderson
Status: Director