LEADWORKS PROJECTS CIC

Company limited by guarantee

Company Registration Number:
12277772 (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

LEADWORKS PROJECTS CIC

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

LEADWORKS PROJECTS CIC

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

Principal activities of the company

The principal activity of the CIC is to provide a safe and affordable environment for local companies to rent a communal area for members of the community to meet and receive refreshments that would otherwise be unavailable.



Directors

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

B G HEWITT
P S BRAIDWOOD
D L MAUGHAN


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
25 July 2024

And signed on behalf of the board by:
Name: P S BRAIDWOOD
Status: Director

LEADWORKS PROJECTS CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 93,377 88,458
Cost of sales: ( 15,803 ) ( 21,389 )
Gross profit(or loss): 77,574 67,069
Administrative expenses: ( 68,666 ) ( 73,769 )
Operating profit(or loss): 8,908 (6,700)
Interest payable and similar charges: ( 2,625 ) ( 1,561 )
Profit(or loss) before tax: 6,283 (8,261)
Profit(or loss) for the financial year: 6,283 (8,261)

LEADWORKS PROJECTS CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 1,771 675
Cash at bank and in hand: 19,425 2,437
Total current assets: 21,196 3,112
Creditors: amounts falling due within one year: 4 ( 780 ) ( 779 )
Net current assets (liabilities): 20,416 2,333
Total assets less current liabilities: 20,416 2,333
Creditors: amounts falling due after more than one year: 5 ( 13,484 ) ( 12,684 )
Accruals and deferred income: ( 11,000 )
Total net assets (liabilities): (4,068) (10,351)
Members' funds
Profit and loss account: (4,068) ( 10,351)
Total members' funds: ( 4,068) (10,351)

The notes form part of these financial statements

LEADWORKS PROJECTS CIC

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

Name: P S BRAIDWOOD
Status: Director

The notes form part of these financial statements

LEADWORKS PROJECTS CIC

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

    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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

    Other accounting policies

    Short term debtors are measured at transaction price which is usually the invoice price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

LEADWORKS PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

LEADWORKS PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Debtors

2023 2022
£ £
Trade debtors 1,771 675
Total 1,771 675

LEADWORKS PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 280 279
Other creditors 500 500
Total 780 779

LEADWORKS PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 13,484 12,684
Total 13,484 12,684

COMMUNITY INTEREST ANNUAL REPORT

LEADWORKS PROJECTS CIC

Company Number: 12277772 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

The principal activity of the CIC is to provide a safe and affordable environment for local companies to rent a communal area for members of the community to meet and receive refreshments that would otherwise be unavailable.

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
25 July 2024

And signed on behalf of the board by:
Name: P S Braidwood
Status: Director