EASTBOURNE U10 FISHERMANS CIC

Company limited by guarantee

Company Registration Number:
08257333 (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

EASTBOURNE U10 FISHERMANS 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

EASTBOURNE U10 FISHERMANS 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

Directors

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

M G Newton - Smith
T Hayles


The director shown below has held office during the period of
1 November 2022 to 27 July 2023

G Doswell


The director shown below has held office during the period of
20 July 2023 to 31 October 2023

A Willard


Secretary M G Newton-Smith

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
28 July 2024

And signed on behalf of the board by:
Name: M G Newton - Smith
Status: Director

EASTBOURNE U10 FISHERMANS CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 74,004 101,598
Cost of sales: ( 5,089 ) ( 46,000 )
Gross profit(or loss): 68,915 55,598
Administrative expenses: ( 152,819 ) ( 221,705 )
Other operating income: 61,030 61,030
Operating profit(or loss): (22,874) (105,077)
Interest payable and similar charges: ( 24 )
Profit(or loss) before tax: (22,898) (105,077)
Profit(or loss) for the financial year: (22,898) (105,077)

EASTBOURNE U10 FISHERMANS CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 6,000 9,000
Tangible assets: 4 3,522,922 3,590,339
Total fixed assets: 3,528,922 3,599,339
Current assets
Debtors: 5 12,082 5,226
Cash at bank and in hand: 11,806 24,661
Total current assets: 23,888 29,887
Creditors: amounts falling due within one year: 6 ( 3,632,171 ) ( 3,685,689 )
Net current assets (liabilities): (3,608,283) (3,655,802)
Total assets less current liabilities: (79,361) ( 56,463)
Total net assets (liabilities): (79,361) (56,463)
Members' funds
Profit and loss account: (79,361) ( 56,463)
Total members' funds: ( 79,361) (56,463)

The notes form part of these financial statements

EASTBOURNE U10 FISHERMANS 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 28 July 2024
and signed on behalf of the board by:

Name: M G Newton - Smith
Status: Director

The notes form part of these financial statements

EASTBOURNE U10 FISHERMANS 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

    Tangible fixed assets depreciation policy

    Buildings : 50 years SLPlant & machinery : 25% RBFF&E : 20%RBComputer equipment : 3 years SL

    Intangible fixed assets amortisation policy

    Software : 5 years SL

EASTBOURNE U10 FISHERMANS 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 4

EASTBOURNE U10 FISHERMANS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 November 2022 15,000 15,000
Additions
Disposals
Revaluations
Transfers
At 31 October 2023 15,000 15,000
Amortisation
At 1 November 2022 6,000 6,000
Charge for year 3,000 3,000
On disposals
Other adjustments
At 31 October 2023 9,000 9,000
Net book value
At 31 October 2023 6,000 6,000
At 31 October 2022 9,000 9,000

EASTBOURNE U10 FISHERMANS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 3,656,475 99,772 3,756,247
Additions 11,151 11,151
Disposals
Revaluations
Transfers
At 31 October 2023 3,667,626 99,772 3,767,398
Depreciation
At 1 November 2022 116,618 49,290 165,908
Charge for year 66,153 12,415 78,568
On disposals
Other adjustments
At 31 October 2023 182,771 61,705 244,476
Net book value
At 31 October 2023 3,484,855 38,067 3,522,922
At 31 October 2022 3,539,857 50,482 3,590,339

EASTBOURNE U10 FISHERMANS CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Debtors

2023 2022
£ £
Trade debtors 10,944 3,226
Other debtors 1,138 2,000
Total 12,082 5,226

EASTBOURNE U10 FISHERMANS CIC

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 7,044 3,136
Taxation and social security 3,360 227
Other creditors 3,621,767 3,682,326
Total 3,632,171 3,685,689

COMMUNITY INTEREST ANNUAL REPORT

EASTBOURNE U10 FISHERMANS CIC

Company Number: 08257333 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

Throughout the Financial year monies have been paid by members to use the facilities and land their catch at the quay.

Consultation with stakeholders

The company’s stakeholders are local fishermen and residents and visitors to the area surrounding the Fishing Quarter development. The directors of the company have worked in the local fishing industry in for a number of years and developed the business model for the Fishing Quarter based on their experience of talking to other fishermen and residents.

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
28 July 2024

And signed on behalf of the board by:
Name: M Newton-Smith
Status: Director