REGISTERED NUMBER: |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
REGISTERED NUMBER: |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
9-11 Vittoria Street |
Birmingham |
B1 3ND |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
RESERVES |
Income and expenditure account |
In accordance with Section 444 of the Companies Act 2006, the Income and expenditure account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Communities and Housing Investment Consortium Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Report Standard applicable in the UK and Republic of Ireland" and Companies act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 30 June 2024. |
Going concern |
The directors have assessed their cashflow and profit projections for a period of 12 months from the approval of these financial statements. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. |
Depreciation is provided on the following basis: |
Furniture and Equipment - 5% Reducing Balance |
Computer Equipment - 20% Straight Line |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income and expenditure account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Income |
Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income is recognised when provision of services has been confirmed. The trigger point for the provision of services is receipt of a capital spend report from a developer. This is then used to calculate the fee to be raised to the customer, which is at an agreed rate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Accrued income |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
VAT | 31,203 | 47,310 |
Accrued expenses |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
COMMUNITIES AND HOUSING |
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | RELATED PARTY TRANSACTIONS |
The company is owned by its members, representatives of which comprise a Board of Directors. There is also a significant influence from its principal creditor Ark Consultancy Limited. |
During the year the company made payments to Ark Consultancy Limited totalling £3,602,908 (2023: £2,433,704). At 30 June 2024 there was a balance outstanding of £407,704 (2023: £371,411). |
During the year the company received income from Ark Consultancy Limited via recharges totalling £40,646 (2023: £20,637). At 30 June 2024 there was a balance outstanding of £7,081 (2023: £400). |
During the year the company paid Director Remuneration of £36,667 (2023: £20,000). |
CHIP (Communities and Housing Investing in People), a charity connected to CHIC as a result of common trustees Sarah Payling and Jayne Stringer, received donations totalling £160,681 (2023: £20,000). |
During the year the company made payments to CHIP for sponsorship totalling £3,200 (2023: £1,820). At 30 June 2024 there was a balance outstanding of £1,000 (2023: £nil) |
During the year the company received income from CHIP via recharges totalling £1,803 (2023: £9,014) At 30 June 2024 there was a balance outstanding of £117 (2023: £9,014). |
Ocean Media (Topco) Limited is connected to CHIC as a result of a common Director. During the year the company purchased services from Ocean Media (Topco) Limited totalling £57,981 (2023: £54,143). At 30 June 2024 there was a balance outstanding of £19,469 (2023: £150).Transactions were conducted on an arms length basis. |
10. | MEMBERS LIABILITY |
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets and liabilities of the company on winding up such amounts as may be required not exceeding £1. |