for the Period Ended 31 March 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2024
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 April 2023
to
31 March 2024
The director shown below has held office during the period of
1 April 2023
to
5 December 2023
The director shown below has held office during the period of
1 April 2023
to
11 April 2023
The director shown below has held office during the period of
31 May 2023
to
31 March 2024
Secretary
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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Gross profit(or loss): |
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Administrative expenses: |
(
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(
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Other operating income: |
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Operating profit(or loss): |
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( |
Profit(or loss) before tax: |
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( |
Profit(or loss) for the financial year: |
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( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Called up share capital not paid: |
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Fixed assets | |||
Intangible assets: |
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Tangible assets: | 3 |
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Investments: | 4 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Investments: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 6 |
(
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(
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Net current assets (liabilities): |
( |
( |
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Total assets less current liabilities: |
( |
( |
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Creditors: amounts falling due after more than one year: |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
( |
( |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
( |
( |
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Total Shareholders' funds: |
( |
( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 31 March 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 March 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 April 2023 |
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Additions | ||||||
Disposals |
(
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(
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(
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Revaluations | ||||||
Transfers | ||||||
At 31 March 2024 |
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Depreciation | ||||||
At 1 April 2023 |
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Charge for year |
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On disposals |
(
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(
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(
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Other adjustments | ||||||
At 31 March 2024 |
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Net book value | ||||||
At 31 March 2024 |
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At 31 March 2023 |
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for the Period Ended 31 March 2024
All fixed assets were transferred to The Low Carbon Hub IPS Limited on 31st March 2024 at zero value in accordance with the CIC53 consent to asset transfer other than for full consideration dated 5th June 2023.
for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Amounts due under finance leases and hire purchase contracts |
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Trade creditors |
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Total |
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for the Period Ended 31 March 2024
During the financial year, The Low Carbon Hub C.I.C. continued its mission of promoting low-carbon initiatives and supporting community energy projects. These activities aimed to reduce carbon emis-sions, promote renewable energy, and support sustainability across various communities in Great Britain. The Company has collaborated with local groups, businesses, and individuals to encourage energy efficiency, renewable energy installations, and community-led environmental programmes. The Company’s efforts have delivered significant benefits to the community, including: Reduction of carbon footprint: By promoting and facilitating the adoption of renewable energy sources, the Company has helped local communities lower their reliance on fossil fuels and reduce overall carbon emissions. Educational initiatives: The Low Carbon Hub C.I.C. provided educational resources and work-shops to inform the public about energy efficiency and sustainability, empowering communi-ties to make informed environmental decisions. Support for community projects: Through partnerships and investments, the Company has enabled local communities to launch their own energy projects, helping to ensure long-term environmental and financial benefits. Energy efficiency through the ERDF programme: The Low Carbon Hub C.I.C. generated £96,592 in community benefit from its European Regional Development Fund (ERDF) programme, fo-cused on retrofitting buildings to improve energy efficiency. This initiative has brought tangible energy savings and environmental benefits to the community. However, after careful review, the decision has been made to voluntarily dissolve The Low Carbon Hub C.I.C.. This decision follows the successful completion of its core mission of promoting low-carbon and community energy initiatives. The foundational work established by the Company will be carried on by The Low Carbon Hub IPS Limited, ensuring that the benefits to the community and the environment will not only continue but also expand further.
The voluntary dissolution of The Low Carbon Hub C.I.C. was undertaken only after comprehensive consultation with the Company's community shareholders, the most crucial group of stakeholders. The consultation process included: Direct communication with community shareholders, explaining the reasons behind the dissolution and ensuring transparency throughout the process. Meetings and discussions with local community groups to inform them about the transition and to understand their concerns and suggestions regarding future involvement. Written feedback solicited from stakeholders to gather input on the dissolution and the trans-fer of activities to The Low Carbon Hub IPS Limited. Actions Taken in Response to Feedback The feedback from consultations with community shareholders and other stakeholders, inform the implementation and communication relating to the following activities: Community groups and shareholders were offered and issued new shares in The Low Carbon Hub IPS Limited, ensuring their continued involvement and stake in the ongoing community energy initiatives. The Company has ensured that stakeholders, particularly community groups, will remain ac-tively involved in the governance and decision-making processes of the successor entity, The Low Carbon Hub IPS Limited. Community benefit expenditure:
No remuneration was received
In the year to 31st March 2024, all fixed assets were transferred to The Low Carbon Hub IPS Limited at zero value, in line with the CIC53 consent to asset transfer other than for full consideration, dated 5th June 2023. The assets transferred included furniture, fittings, and equipment, along with the solar panel array at Eynsham Village Hall and Church. The original cost of these assets was £85,046, comprising £30,612 for furniture, fittings, and equip-ment, and £54,434 for the solar panel array. As of 31st March 2023, the net book value of the assets was £31,990, with £5,992 attributed to the furniture, fittings, and equipment, and £25,998 to the solar panel array. By 31st March 2024, following depreciation and the transfer, the net book value of these assets was reduced to zero. No other transfers of assets other than for full consideration were made during the year.
This report was approved by the board of directors on
23 October 2024
And signed on behalf of the board by:
Name: Sam Clarke
Status: Director