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Company Registration No. 13045885 (England and Wales)
NOTES FROM BELOW COLLECTIVE Unaudited accounts for the year ended 30 November 2023
NOTES FROM BELOW COLLECTIVE Unaudited accounts Contents
Page
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NOTES FROM BELOW COLLECTIVE Company Information for the year ended 30 November 2023
Directors
Dr Lorenza Monaco Dr Simon Englert Dr Callum Cant Dr James Woodcock Ms Lydia Hughes
Company Number
13045885 (England and Wales)
Registered Office
PELICAN HOUSE 144 CAMBRIDGE HEATH ROAD BETHNAL GREEN LONDON E1 5QJ
Accountants
Square Accounts Limited 5 Albert Road Southsea Hampshire PO5 2SE
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NOTES FROM BELOW COLLECTIVE Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Cash at bank and in hand
7,363 
4,870 
Creditors: amounts falling due within one year
(7,268)
(7,643)
Net current assets/(liabilities)
95 
(2,773)
Net assets/(liabilities)
95 
(2,773)
Reserves
Profit and loss account
95 
(2,773)
Members' funds
95 
(2,773)
For the year ending 30 November 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by
Dr James Woodcock Director Company Registration No. 13045885
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NOTES FROM BELOW COLLECTIVE Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
NOTES FROM BELOW COLLECTIVE is a private company, limited by guarantee, registered in England and Wales, registration number 13045885. The registered office is PELICAN HOUSE 144 CAMBRIDGE HEATH ROAD, BETHNAL GREEN, LONDON, E1 5QJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The financial statements have been prepared on a going concern basis as the shareholders have agreed to support the business.
Presentation currency
The accounts are presented in £ sterling.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have any significant effect on the amounts recognised in the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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NOTES FROM BELOW COLLECTIVE Notes to the Accounts for the year ended 30 November 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
673 
- 
Loans from directors
1,659 
1,659 
Accruals
480 
481 
Deferred income
4,456 
5,503 
7,268 
7,643 
5
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
6
Transactions with related parties
The directors, Lydia Hughes and Callum Cant maintain an interest free loan with the company. The balance owed to the directors as at 30 November 2023 was £1,659 (2022 - £1,659).
7
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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