STORTH HOUSE CIC

Company limited by guarantee

Company Registration Number:
08798444 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

STORTH HOUSE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

STORTH HOUSE CIC

Directors' report period ended 31 December 2023

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

Principal activities of the company

The principal activity of the company during the year under review was . Pre-primary education, Sports and recreation education, Other education not elsewhere classified and Other sports activities.

Additional information

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Emily Jayne EDGAR
Bridget CRABTREE
Andrew John LAMPH


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
7 August 2024

And signed on behalf of the board by:
Name: Emily Jayne EDGAR
Status: Director

STORTH HOUSE CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 408,473 375,928
Cost of sales: ( 25,588 ) ( 24,073 )
Gross profit(or loss): 382,885 351,855
Distribution costs: ( 714 ) ( 836 )
Administrative expenses: ( 363,777 ) ( 325,600 )
Other operating income: 24,077 16,318
Operating profit(or loss): 42,471 41,737
Interest payable and similar charges: ( 22,070 ) ( 19,231 )
Profit(or loss) before tax: 20,401 22,506
Tax: ( 3,079 ) ( 4,410 )
Profit(or loss) for the financial year: 17,322 18,096

STORTH HOUSE CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 506,934 502,738
Total fixed assets: 506,934 502,738
Current assets
Debtors: 4 11,938 5,896
Cash at bank and in hand: 157 16,225
Total current assets: 12,095 22,121
Creditors: amounts falling due within one year: 5 ( 141,137 ) ( 129,357 )
Net current assets (liabilities): (129,042) (107,236)
Total assets less current liabilities: 377,892 395,502
Creditors: amounts falling due after more than one year: 6 ( 279,849 ) ( 314,781 )
Total net assets (liabilities): 98,043 80,721
Members' funds
Profit and loss account: 98,043 80,721
Total members' funds: 98,043 80,721

The notes form part of these financial statements

STORTH HOUSE CIC

Balance sheet statements

For the year ending 31 December 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 7 August 2024
and signed on behalf of the board by:

Name: Emily Jayne EDGAR
Status: Director

The notes form part of these financial statements

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: -the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; -the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; -the amount of revenue can be measured reliably; -it is probable that the economic benefits associated with the transaction will flow to the Company; and -the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Motor vehicles 20% Straight line Furniture, fittings and equipment 20% Straight line No depreciation is being charged on Freehold Land and Buildings as appreciation in value is expected.

    Other accounting policies

    Taxation Income tax expense represents the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Defined contribution pensions The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 25 23

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 499,838 8,385 8,880 517,103
Additions 2,500 4,150 6,650
Disposals ( 6,250 ) ( 6,250 )
Revaluations
Transfers
At 31 December 2023 499,838 10,885 6,780 517,503
Depreciation
At 1 January 2023 5,485 8,880 14,365
Charge for year 2,177 277 2,454
On disposals ( 6,250 ) ( 6,250 )
Other adjustments
At 31 December 2023 7,662 2,907 10,569
Net book value
At 31 December 2023 499,838 3,223 3,873 506,934
At 31 December 2022 499,838 2,900 0 502,738

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 11,465 5,376
Prepayments and accrued income 473 520
Total 11,938 5,896

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 13,296 11,351
Taxation and social security 18,910 25,219
Accruals and deferred income 72,250 82,546
Other creditors 36,681 10,241
Total 141,137 129,357

STORTH HOUSE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

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

2023 2022
£ £
Bank loans and overdrafts 151,359 162,087
Other creditors 128,490 152,694
Total 279,849 314,781

COMMUNITY INTEREST ANNUAL REPORT

STORTH HOUSE CIC

Company Number: 08798444 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The company provides high quality, affordable Childcare to children and young people in the Cowlersley and Linthwaite area. We promote the physical, emotional and social development of children through encouragement of imagination, creativity and confidence. We also provide food support and creative community space. Storth House provides high quality nursery, after school and holiday care and community services. This is a fantastic venture to deliver childcare and community services in a low cost sustainable way. We provide a unique service with affordable care for families in the area and is run as a Community Interest Company. The club is ideally located in a large building in the centre of the community and is within walking distance of 3 schools in the area. We also provide youth sessions, food support project, community activities and creative space for local residents.

Consultation with stakeholders

Our stakeholders are our children, parents, carers, local schools and local community. We regularly consult with them via a variety of methods such as meetings, newsletters, social networking, emails, attendance at parents evenings and our suggestion box situated at the club. We have continued to have overwhelming support for our parents, many of whom would not be able to go to work if it was not for the flexibility and affordability of our services.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £28,965. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
7 August 2024

And signed on behalf of the board by:
Name: Emily Jayne EDGAR
Status: Director