THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Company limited by guarantee

Company Registration Number:
12774092 (England and Wales)

Unaudited statutory accounts for the year ended 30 July 2023

Period of accounts

Start date: 1 August 2022

End date: 30 July 2023

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Contents of the Financial Statements

for the Period Ended 30 July 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Balance sheet

As at 30 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 17,647 26,471
Total fixed assets: 17,647 26,471
Current assets
Debtors: 4 1,086 1,018
Cash at bank and in hand: 3,757 3,898
Total current assets: 4,843 4,916
Creditors: amounts falling due within one year: 5 ( 20,528 ) ( 31,675 )
Net current assets (liabilities): (15,685) (26,759)
Total assets less current liabilities: 1,962 ( 288)
Total net assets (liabilities): 1,962 (288)
Members' funds
Profit and loss account: 1,962 ( 288)
Total members' funds: 1,962 (288)

The notes form part of these financial statements

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Balance sheet statements

For the year ending 30 July 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 29 July 2024
and signed on behalf of the board by:

Name: D Hulme
Status: Director

The notes form part of these financial statements

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Notes to the Financial Statements

for the Period Ended 30 July 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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    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 etc - over the term of the lease

    Other accounting policies

    GrantsWhere the conditions for grants to be received had been met by the balance sheet date, the grant income has been recognised within the income statement, with a corresponding debtor for amounts that were not received until after the balance sheet date.Where grants are related to the purchase of capital items, these grants are released to the income statement over the life of the related assets.TaxationTaxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Pension costs and other post-retirement benefitsThe company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Notes to the Financial Statements

for the Period Ended 30 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 5 6

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Notes to the Financial Statements

for the Period Ended 30 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 44,118 44,118
Additions
Disposals
Revaluations
Transfers
At 30 July 2023 44,118 44,118
Depreciation
At 1 August 2022 17,647 17,647
Charge for year 8,824 8,824
On disposals
Other adjustments
At 30 July 2023 26,471 26,471
Net book value
At 30 July 2023 17,647 17,647
At 31 July 2022 26,471 26,471

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Notes to the Financial Statements

for the Period Ended 30 July 2023

4. Debtors

2023 2022
£ £
Other debtors 1,086 1,018
Total 1,086 1,018

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Notes to the Financial Statements

for the Period Ended 30 July 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 390 495
Other creditors 20,138 31,180
Total 20,528 31,675

COMMUNITY INTEREST ANNUAL REPORT

THE FOLKESTONE LEAS LIFT (LEAS LIFT LOCKOUT) CIC

Company Number: 12774092 (England and Wales)

Year Ending: 30 July 2023

Company activities and impact

The principal activities of the company are to provide a series of escape room (puzzle rooms), an exhibition centre promoting the restoration of a Grade II* listed local building (the Leas Lift) and a community space for workshops promoting a range of skills (e.g. English literacy, IT literacy, maths, geography, basic construction and story telling to name a few) to young people and those from marginalised communities. Over the year we have seen well over 1,200 people participate in these rooms, the exhibition and the workshops.

Consultation with stakeholders

The company has three directors. These are provided a monthly report from the General Manager which includes grant funding, sales, management accounts, cashflow, monthly performance against the budget and monthly activities.

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
29 July 2024

And signed on behalf of the board by:
Name: Mr D Hulme
Status: Director