REDS COMMUNITY HUB CIC

Company limited by guarantee

Company Registration Number:
NI653370 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 1 June 2022

End date: 31 May 2023

REDS COMMUNITY HUB CIC

Contents of the Financial Statements

for the Period Ended 31 May 2023

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

REDS COMMUNITY HUB CIC

Directors' report period ended 31 May 2023

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

Principal activities of the company

The principal activity of the company continued to be that of cultural education.



Directors

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

Mr G Clarke
Mr D.F. Robinson


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
23 August 2024

And signed on behalf of the board by:
Name: Mr G Clarke
Status: Director

REDS COMMUNITY HUB CIC

Profit And Loss Account

for the Period Ended 31 May 2023

2023 2022


£

£
Turnover: 81,886 73,585
Cost of sales: ( 18,384 ) ( 25,077 )
Gross profit(or loss): 63,502 48,508
Administrative expenses: ( 67,399 ) ( 61,463 )
Operating profit(or loss): (3,897) (12,955)
Interest payable and similar charges: ( 64 ) ( 457 )
Profit(or loss) before tax: (3,961) (13,412)
Profit(or loss) for the financial year: (3,961) (13,412)

REDS COMMUNITY HUB CIC

Balance sheet

As at 31 May 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 47,703 43,992
Total fixed assets: 47,703 43,992
Current assets
Cash at bank and in hand: 726 14,594
Total current assets: 726 14,594
Creditors: amounts falling due within one year: 4 ( 28,906 ) ( 30,805 )
Net current assets (liabilities): (28,180) (16,211)
Total assets less current liabilities: 19,523 27,781
Creditors: amounts falling due after more than one year: 5 ( 8,000 ) ( 12,297 )
Total net assets (liabilities): 11,523 15,484
Members' funds
Profit and loss account: 11,523 15,484
Total members' funds: 11,523 15,484

The notes form part of these financial statements

REDS COMMUNITY HUB CIC

Balance sheet statements

For the year ending 31 May 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 23 August 2024
and signed on behalf of the board by:

Name: Mr G Clarke
Status: Director

The notes form part of these financial statements

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Plant and equipment - 20% reducing balance

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2022 73,576 73,576
Additions 11,929 11,929
Disposals
Revaluations
Transfers
At 31 May 2023 85,505 85,505
Depreciation
At 1 June 2022 29,584 29,584
Charge for year 8,218 8,218
On disposals
Other adjustments
At 31 May 2023 37,802 37,802
Net book value
At 31 May 2023 47,703 47,703
At 31 May 2022 43,992 43,992

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 4,000 3,900
Accruals and deferred income 10,320 9,120
Other creditors 14,586 17,785
Total 28,906 30,805

REDS COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

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

2023 2022
£ £
Bank loans and overdrafts 8,000 12,297
Total 8,000 12,297

COMMUNITY INTEREST ANNUAL REPORT

REDS COMMUNITY HUB CIC

Company Number: NI653370 (Northern Ireland)

Year Ending: 31 May 2023

Company activities and impact

The company runs a local sports club. During the year, the clubs activities have benefitted the community in the following ways: The local community have been able to participate in cross community activities. Donations have been made to local charities and associations.

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
23 August 2024

And signed on behalf of the board by:
Name: Mr G Clarke
Status: Director