ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12060255 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 October 2023

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

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Directors

The directors shown below have held office during the whole of the period from
1 November 2022 to 31 October 2023

Matthew Townsend
Samual Hodgson
Andrew Hodgson
Cameron Gould


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
24 July 2024

And signed on behalf of the board by:
Name: Matthew Townsend
Status: Director

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 47,897 79,164
Cost of sales: ( 10,159 ) ( 56,000 )
Gross profit(or loss): 37,738 23,164
Administrative expenses: ( 54,465 ) ( 109,410 )
Other operating income: 1,491 112,900
Operating profit(or loss): (15,236) 26,654
Profit(or loss) before tax: (15,236) 26,654
Tax: 2,330
Profit(or loss) for the financial year: (12,906) 26,654

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 33,619 44,726
Total fixed assets: 33,619 44,726
Current assets
Stocks: 4 1,500 6,272
Debtors: 5 2,445 918
Cash at bank and in hand: 1,225 19,238
Total current assets: 5,170 26,428
Creditors: amounts falling due within one year: 6 ( 4,845 ) ( 24,304 )
Net current assets (liabilities): 325 2,124
Total assets less current liabilities: 33,944 46,850
Total net assets (liabilities): 33,944 46,850
Members' funds
Profit and loss account: 33,944 46,850
Total members' funds: 33,944 46,850

The notes form part of these financial statements

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 October 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 24 July 2024
and signed on behalf of the board by:

Name: Matthew Townsend
Status: Director

The notes form part of these financial statements

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 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

    Plant & Machinery - 20% Straight Line.

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 6 6

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 57,146 57,146
Additions 402 402
Disposals
Revaluations
Transfers
At 31 October 2023 57,548 57,548
Depreciation
At 1 November 2022 12,420 12,420
Charge for year 11,509 11,509
On disposals
Other adjustments
At 31 October 2023 23,929 23,929
Net book value
At 31 October 2023 33,619 33,619
At 31 October 2022 44,726 44,726

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Stocks

2023 2022
£ £
Stocks 1,500 6,272
Total 1,500 6,272

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Debtors

2023 2022
£ £
Trade debtors 918
Other debtors 2,445
Total 2,445 918

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 158 1,366
Taxation and social security 3,995
Accruals and deferred income 650 12,815
Other creditors 4,037 6,128
Total 4,845 24,304

COMMUNITY INTEREST ANNUAL REPORT

ISLE OF WIGHT MOUNTAIN BIKE CENTRE COMMUNITY INTEREST COMPANY

Company Number: 12060255 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

The year ended 31st October 2023 was a trying year for the company. Inclement weather led to reduced sales and day closures due to health and safety concerns and trail damage. Our community continued to make good use of our facilities, when the weather was good. Hiring bikes, accessing the trails and taking part in coaching and also meeting friends for lunch and riding the trails together. Our natural habitat continued to be a primary focus of our remedial works during the year. We successfully managed the trails and the surrounding land to ensure that the natural environment can be enjoyed by all.We held some events and competitions during the year. We were able to hire an air bag so that our customers could practise their jumps and tricks and land safely. It was very well received by all who tried it.

Consultation with stakeholders

Interaction with customers is via proactive social media and the website information. Centre users and neighbours are encouraged to complete the polls via social media so that their needs and requests can be addressed and met.The company continues to work with the local council and other representatives of countryside users. Neighbours and community leaders are aware of the directors and are encouraged to report any concerns that they have directly to the directors.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £10,470. This is shown on page 10 of 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
24 July 2024

And signed on behalf of the board by:
Name: Matthew Townsend
Status: Director