LEEDS WOOD RECYCLING CIC

Company limited by guarantee

Company Registration Number:
11272758 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

LEEDS WOOD RECYCLING CIC

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

LEEDS WOOD RECYCLING CIC

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

Howard Bradley
Peter Tatham
Charlotte Stanley
Katherine Singleton


The director shown below has held office during the period of
1 April 2023 to 9 August 2023

St Luke's Community and Regeneration Enterprises


The director shown below has held office during the period of
1 April 2023 to 18 July 2023

Leeds Community Bakery Limited


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
29 October 2024

And signed on behalf of the board by:
Name: Howard Bradley
Status: Director

LEEDS WOOD RECYCLING CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 314,789 339,914
Cost of sales: ( 37,996 ) ( 38,301 )
Gross profit(or loss): 276,793 301,613
Administrative expenses: ( 285,727 ) ( 280,855 )
Operating profit(or loss): (8,934) 20,758
Interest receivable and similar income: 36 0
Interest payable and similar charges: ( 1,288 ) ( 486 )
Profit(or loss) before tax: (10,186) 20,272
Tax: ( 1,471 ) ( 3,520 )
Profit(or loss) for the financial year: (11,657) 16,752

LEEDS WOOD RECYCLING CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 0 133
Tangible assets: 4 28,891 18,314
Total fixed assets: 28,891 18,447
Current assets
Stocks: 5 4,421 4,170
Debtors: 6 26,892 28,036
Cash at bank and in hand: 86,362 94,212
Total current assets: 117,675 126,418
Creditors: amounts falling due within one year: 7 ( 49,507 ) ( 45,124 )
Net current assets (liabilities): 68,168 81,294
Total assets less current liabilities: 97,059 99,741
Creditors: amounts falling due after more than one year: 8 ( 15,598 ) ( 11,614 )
Provision for liabilities: ( 4,991 ) 0
Total net assets (liabilities): 76,470 88,127
Members' funds
Profit and loss account: 76,470 88,127
Total members' funds: 76,470 88,127

The notes form part of these financial statements

LEEDS WOOD RECYCLING CIC

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 29 October 2024
and signed on behalf of the board by:

Name: Howard Bradley
Status: Director

The notes form part of these financial statements

LEEDS WOOD RECYCLING CIC

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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery - 5 year straight line Motor Vehicles - 5 year straight line Fixtures & Fittings - 5 year straight line

    Intangible fixed assets amortisation policy

    Other intangible assets are National Community Wood franchise fee. It is amortised to income and expenditure account over its estimated economic life of 5 years.

    Other accounting policies

    Stock Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 15 15

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2023 1,000 1,000
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 1,000 1,000
Amortisation
At 1 April 2023 867 867
Charge for year 133 133
On disposals
Other adjustments
At 31 March 2024 1,000 1,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 133 133

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 6,742 869 21,658 29,269
Additions 333 17,975 18,308
Disposals ( 390 ) ( 4,163 ) ( 4,553 )
Revaluations
Transfers
At 31 March 2024 6,685 869 35,470 43,024
Depreciation
At 1 April 2023 1,539 526 8,890 10,955
Charge for year 1,194 167 5,981 7,342
On disposals ( 4,164 ) ( 4,164 )
Other adjustments
At 31 March 2024 2,733 693 10,707 14,133
Net book value
At 31 March 2024 3,952 176 24,763 28,891
At 31 March 2023 5,203 343 12,768 18,314

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Stocks

2024 2023
£ £
Stocks 4,421 4,170
Total 4,421 4,170

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors

2024 2023
£ £
Trade debtors 21,229 26,771
Prepayments and accrued income 1,597 719
Other debtors 4,066 546
Total 26,892 28,036

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 11,493 4,967
Trade creditors 1,117 1,443
Taxation and social security 12,706 18,665
Accruals and deferred income 23,040 18,787
Other creditors 1,151 1,262
Total 49,507 45,124

LEEDS WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

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

2024 2023
£ £
Bank loans and overdrafts 15,598 11,614
Total 15,598 11,614

COMMUNITY INTEREST ANNUAL REPORT

LEEDS WOOD RECYCLING CIC

Company Number: 11272758 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

This year has been a year where the team has upskilled and stretched to learn new things. 2023 saw the launch of our Specialised Work Experience Program which created a transformational effect within the business. We also embarked on our partnership with the EDP and Groundwork on their “Trade up” mentoring program, working alongside our workshop team to expand our manufacturing offer. There has been a lot of learning. We have shared and developed learning opportunities, collaboratively with our amazing volunteers and staff. So individually, and as a team we learned news skills, with 70% of all staff and volunteers completing training on how to work with adults with LD/SEND. And with over 10 staff and volunteers inducted on how to use the new CNC machine. The Leeds Wood Recycling team continues to reflect on what we do and share what we learn developing each strand of the business. Volunteers / Training This year we ran a Specialised Work Experience Placement (SWEP) offering adults with learning disabilities and difficulties the opportunity to take part in a 12-week placement, supported by a support worker. Funded by Leeds Community Foundation, participants learnt a range of woodwork skills and practical, depending on their needs and abilities. In line with this program, we gained level 1 in our Disability Confidence and began updating our whole system of training and enrolment for our volunteer workforce, to become more accessible. All our staff undertook LD/SEND training, and our key management expanded their accreditations in Safeguarding and safer recruitment. Leeds Society for the Deaf and Blind ran an 8-week course in British Sign Language, attended by a number of our staff and volunteers. Collections We employed a graduate of the Kickstarter scheme to our team We took part in the dismantling and rehoming of a WOW Barn We put 2 staff members through CSCS cards Our first ever van was retired, and thanks to Key fund we bought a new one Workshop / Courses We became a fellow of the EDP/ SIB & Groundwork on their “Trade up” project, which funded our new CNC machine and helped upskill the whole team in a range of skills. We welcomed a new workshop coordinator, who helped launch our new technology. We developed and ran some new courses which have proved successful “How to use wall fixings” and the Young Makers courses. We worked with a range of corporate partners to deliver team building and Christmas party activities. Retail Growth in our online shop. Massive reorganisation to help create a more welcoming space.

Consultation with stakeholders

After last years “Skill Tree project” we reflected on the project and decided to initiate conversations with our networks of social workers, occupational therapists, social prescribers and partnering organisations. We recognised that some people who wanted to volunteer with us could not, due to their LD and SEND. We recognised this was linked to our lack of staff capacity to support them in their placement with us. So, in reaction to this feedback, this year we piloted our Specialised Work Experience Placement (SWEP) supported by a 1-year grant fund from Leeds Community Foundation. The project allowed us to engage with people whose options for work experience are usually very limited, after an outcry from organisations and families. LWR underwent amazing development and gaining us disability confident accreditation. and delivering inhouse training to boost inclusion throughout the organisation sharing our learning from participants' families and support organisations. This project enabled all our staff to become comfortable, skilled and confident working alongside the target group - this has untold benefits.

Directors' remuneration

Directors renumeration totalled £28,548 in the year to 31/03/2024

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 October 2024

And signed on behalf of the board by:
Name: Howard Bradley
Status: Director