GLENUIGNET COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
SC592993 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

GLENUIGNET COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

GLENUIGNET COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

JAMES ROBERT BEGG
ANDREW CLARK
PAMELA MYRA CONACHER
BERNARD MARTYN RUMFITT GREEN
SUE MCCANN
KEITH PATRICK O'CONNOR
WILLIAM WAITES


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
19 August 2024

And signed on behalf of the board by:
Name: SUE MCCANN
Status: Director

GLENUIGNET COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 13,629 12,150
Gross profit(or loss): 13,629 12,150
Administrative expenses: ( 11,559 ) ( 11,232 )
Operating profit(or loss): 2,070 918
Profit(or loss) before tax: 2,070 918
Tax: ( 138 ) ( 218 )
Profit(or loss) for the financial year: 1,932 700

GLENUIGNET COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,703 5,357
Total fixed assets: 6,703 5,357
Current assets
Cash at bank and in hand: 11,008 3,941
Total current assets: 11,008 3,941
Creditors: amounts falling due within one year: 4 ( 7,194 ) ( 713 )
Net current assets (liabilities): 3,814 3,228
Total assets less current liabilities: 10,517 8,585
Total net assets (liabilities): 10,517 8,585
Members' funds
Profit and loss account: 10,517 8,585
Total members' funds: 10,517 8,585

The notes form part of these financial statements

GLENUIGNET COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2024 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 19 August 2024
and signed on behalf of the board by:

Name: PAMELA MYRA CONACHER
Status: Director

The notes form part of these financial statements

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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, excluding discounts, rebates, value added taxes and other sales taxes.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life Plant & Machinery - 20% reducing balance

    Other accounting policies

    Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation are not discounted. Current tax is recognised at the amount of tax payable using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 10,742 10,742
Additions 3,022 3,022
Disposals
Revaluations
Transfers
At 31 March 2024 13,764 13,764
Depreciation
At 1 April 2023 5,385 5,385
Charge for year 1,676 1,676
On disposals
Other adjustments
At 31 March 2024 7,061 7,061
Net book value
At 31 March 2024 6,703 6,703
At 31 March 2023 5,357 5,357

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 6,510
Taxation and social security 138 218
Other creditors 546 495
Total 7,194 713

GLENUIGNET COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Off balance sheet arrangements

Related Party Disclosures - Two directors received remuneration for the running and administration of the company during the year. Sue McCann received £800 and Pamela Conacher £200 which has been recorded in the financial statements. Andrew Clark, a director invoiced the company for his self employment services for the installation and maintenance of the equipment, a total of £4,050 was paid to him for his services in this financial year.

COMMUNITY INTEREST ANNUAL REPORT

GLENUIGNET COMMUNITY INTEREST COMPANY

Company Number: SC592993 (Scotland)

Year Ending: 31 March 2024

Company activities and impact

The company runs a broadband scheme covering the communities of Drimindarroch, Roshven and Glenuig but is also open to the surrounding areas. Their aim is to continually improve the speed and signal of the broadband service in the more rural areas.

Consultation with stakeholders

The stakeholders are the community who all continue to express a keen desire to improve the service provided. They are regularly kept up to date by letter and email.

Directors' remuneration

Two directors received remuneration for the running and administration of the company during the year. Sue McCann received £800 and Pamela Conacher £200 which has been recorded and noted in the financial statements.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: PAMELA CONACHER
Status: Director