Company Registration No. 05174095 (England and Wales)
Gorse Covert Community Association Limited
Unaudited accounts
for the year ended 31 March 2024
Gorse Covert Community Association Limited
Unaudited accounts
Contents
Gorse Covert Community Association Limited
Company Information
for the year ended 31 March 2024
Directors
Val Watts
Darryl Gough
Craig Brown
Tom Marshall
Company Number
05174095 (England and Wales)
Registered Office
Gorse Covert Community Centre
Maxwell Drive
Loughborough
LE11 4RZ
Gorse Covert Community Association Limited
Statement of financial position
as at 31 March 2024
Tangible assets
10,472
11,129
Cash at bank and in hand
87,753
51,945
Creditors: amounts falling due within one year
(12,350)
(9,444)
Net current assets
80,594
50,896
Profit and loss account
91,066
62,025
Shareholders' funds
91,066
62,025
For the year ending 31 March 2024 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 23 August 2024 and were signed on its behalf by
Val Watts
Director
Company Registration No. 05174095
Gorse Covert Community Association Limited
Notes to the Accounts
for the year ended 31 March 2024
Gorse Covert Community Association Limited is a private company, limited by shares, registered in England and Wales, registration number 05174095. The registered office is Gorse Covert Community Centre, Maxwell Drive, Loughborough, LE11 4RZ.
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.
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.
The accounts have been prepared under the historical cost convention
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price price
Undesignated funds are unrestricted funds.
Restricted funds are funds which are to be used in accordance with restrictions imposed by the donor
The Association is a limited company limited by guarantee
Gorse Covert Community Association Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Accrued income and prepayments
2,576
2,625
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,129
1,215
Other creditors
1,150
1,249
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Average number of employees
During the year the average number of employees was 12 (2023: 8).