BRIXHAM FUTURE CIC

Company limited by guarantee

Company Registration Number:
10465203 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

BRIXHAM FUTURE CIC

Contents of the Financial Statements

for the Period Ended 30 November 2023

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

BRIXHAM FUTURE CIC

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Principal activities of the company

Principal activity of the company during the financial year was as a Community Interest Company benefitting the residents of Brixham, by means of community projects bringing tangible benefits to Brixham, Devon.



Directors

The director shown below has held office during the whole of the period from
1 December 2022 to 30 November 2023

JOHN BRENNAN


The directors shown below have held office during the period of
1 December 2022 to 3 May 2023

FRANCES ROBINSON
JOHN RUDDEN


The directors shown below have held office during the period of
5 May 2023 to 30 November 2023

RICHARD ANDERSON
STEPHEN JOHN GLANVILL


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
13 March 2024

And signed on behalf of the board by:
Name: JOHN BRENNAN
Status: Director

BRIXHAM FUTURE CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 13,820 21,749
Cost of sales: ( 13,608 ) ( 21,277 )
Gross profit(or loss): 212 472
Administrative expenses: ( 236 ) ( 472 )
Operating profit(or loss): (24) 0
Profit(or loss) before tax: (24) 0
Tax: ( 11 ) ( 7 )
Profit(or loss) for the financial year: (35) (7)

BRIXHAM FUTURE CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 243 324
Total fixed assets: 243 324
Current assets
Cash at bank and in hand: 56,911 43,397
Total current assets: 56,911 43,397
Creditors: amounts falling due within one year: 4 ( 12,050 ) ( 18,239 )
Net current assets (liabilities): 44,861 25,158
Total assets less current liabilities: 45,104 25,482
Creditors: amounts falling due after more than one year: 5 ( 44,657 ) ( 25,000 )
Total net assets (liabilities): 447 482
Members' funds
Profit and loss account: 447 482
Total members' funds: 447 482

The notes form part of these financial statements

BRIXHAM FUTURE CIC

Balance sheet statements

For the year ending 30 November 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 14 March 2024
and signed on behalf of the board by:

Name: JOHN BRENNAN
Status: Director

The notes form part of these financial statements

BRIXHAM FUTURE CIC

Notes to the Financial Statements

for the Period Ended 30 November 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover may also include funds raised by means of grants and donations

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Fixtures and Fittings 25% Reducing Balance Computer Equipment 33% Reducing Balance

BRIXHAM FUTURE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

BRIXHAM FUTURE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 1,600 400 2,000
Additions
Disposals
Revaluations
Transfers
At 30 November 2023 1,600 400 2,000
Depreciation
At 1 December 2022 1,316 360 1,676
Charge for year 71 10 81
On disposals
Other adjustments
At 30 November 2023 1,387 370 1,757
Net book value
At 30 November 2023 213 30 243
At 30 November 2022 284 40 324

BRIXHAM FUTURE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 0 500
Taxation and social security 11 7
Accruals and deferred income 127 120
Other creditors 11,912 17,612
Total 12,050 18,239

BRIXHAM FUTURE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

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

2023 2022
£ £
Other creditors 44,657 25,000
Total 44,657 25,000

Director's Loan Director John Brennan has loaned £44,657 for 25 years at 0% interest. This loan is to be kept specifically as a Reserve which is Ringfenced and is repayable to Mr Brennan in the even of the closure of the CIC. Donation to the Graveyard Project £25,000 has been donated in a previous year by one of the Directors John Brennan for the sole purpose of establishing the Brixham Graveyard Project. It must be kept in reserve and Ringfenced for this specific project and if the project is not delivered the whole amount is refundable to the donor. It is currently part of the total Director's loan of £44664.

COMMUNITY INTEREST ANNUAL REPORT

BRIXHAM FUTURE CIC

Company Number: 10465203 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

The Board believes our effort assists the economic and social regeneration of our area. We seek to maintain our cherished heritage and maintain our community’s vibrancy

Consultation with stakeholders

The establishment of the new organisation arose from a community Conference What next for Brixham? . Our subsequent Business Plan was subject to public consultation as are applicable individual ongoing projects. We work with local stakeholders on the delivery of our events and projects.

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
11 March 2024

And signed on behalf of the board by:
Name: JOHN BRENNAN
Status: Director