HARTLEPOWER C.I.C.

Company limited by guarantee

Company Registration Number:
09404055 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2024

Period of accounts

Start date: 31 January 2023

End date: 30 January 2024

HARTLEPOWER C.I.C.

Contents of the Financial Statements

for the Period Ended 30 January 2024

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

HARTLEPOWER C.I.C.

Directors' report period ended 30 January 2024

The directors present their report with the financial statements of the company for the period ended 30 January 2024

Directors

The directors shown below have held office during the whole of the period from
31 January 2023 to 30 January 2024

P G Hewitson
P G Gowland
P R Hewitson
A J Ingram
A J Finegan


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
30 October 2024

And signed on behalf of the board by:
Name: P R Hewitson
Status: Director

HARTLEPOWER C.I.C.

Profit And Loss Account

for the Period Ended 30 January 2024

2024 2023


£

£
Turnover: 450,187 674,699
Gross profit(or loss): 450,187 674,699
Administrative expenses: ( 437,674 ) ( 664,336 )
Other operating income: 2,886 1,627
Operating profit(or loss): 15,399 11,990
Interest payable and similar charges: ( 73 ) ( 153 )
Profit(or loss) before tax: 15,326 11,837
Tax: ( 632 ) ( 4,102 )
Profit(or loss) for the financial year: 14,694 7,735

HARTLEPOWER C.I.C.

Balance sheet

As at 30 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 117,630 83,988
Total fixed assets: 117,630 83,988
Current assets
Debtors: 4 42,222 44,373
Cash at bank and in hand: 20,315 56,488
Total current assets: 62,537 100,861
Creditors: amounts falling due within one year: 5 ( 93,071 ) ( 105,405 )
Net current assets (liabilities): (30,534) (4,544)
Total assets less current liabilities: 87,096 79,444
Creditors: amounts falling due after more than one year: 6 ( 36,101 ) ( 43,143 )
Total net assets (liabilities): 50,995 36,301
Members' funds
Profit and loss account: 50,995 36,301
Total members' funds: 50,995 36,301

The notes form part of these financial statements

HARTLEPOWER C.I.C.

Balance sheet statements

For the year ending 30 January 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 30 October 2024
and signed on behalf of the board by:

Name: P R Hewitson
Status: Director

The notes form part of these financial statements

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 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

    Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Long leasehold property-5% straight line Plant and machinery -5% straight line Fixtures and fittings -25% straight line Motor vehicles -25% straight line Equipment -25% straight line

    Other accounting policies

    Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 8

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 January 2023 63,857 32,536 10,685 10,337 3,424 120,839
Additions 43,282 43,282
Disposals
Revaluations
Transfers
At 30 January 2024 63,857 75,818 10,685 10,337 3,424 164,121
Depreciation
At 31 January 2023 6,285 13,016 7,368 6,758 3,424 36,851
Charge for year 3,193 2,889 2,072 1,486 0 9,640
On disposals
Other adjustments
At 30 January 2024 9,478 15,905 9,440 8,244 3,424 46,491
Net book value
At 30 January 2024 54,379 59,913 1,245 2,093 0 117,630
At 30 January 2023 57,572 19,520 3,317 3,579 0 83,988

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 31,122 15,329
Other debtors 11,100 29,044
Total 42,222 44,373

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 4,963 6,624
Taxation and social security 6,905 12,054
Accruals and deferred income 68,496 52,072
Other creditors 12,707 34,655
Total 93,071 105,405

HARTLEPOWER C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

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

2024 2023
£ £
Bank loans and overdrafts 36,101 43,143
Total 36,101 43,143

COMMUNITY INTEREST ANNUAL REPORT

HARTLEPOWER C.I.C.

Company Number: 09404055 (England and Wales)

Year Ending: 30 January 2024

Company activities and impact

The company's activities will provide benefit to the residents of Hartlepool by generating a community fund from the profits of renewable energy that can be reinvested in further projects with the community. Although the primary function of the fund will be the development of renewable energy our community also needs investment in job creation and the fund will seek to provide a vehicle for evaluation and investment in jobs for the future as opposed to already established traditional industry. The fund will also seek to support certain areas of the voluntary sector which can make a significant impact on improvements in community resilience and health

Consultation with stakeholders

The company will carry out feasibility studies into the potential for community funded renewable energy projects and seek to implement those that are financially viable and will make the greatest benefit to the community. Carbon free energy production which will have a general benefit to the whole community. Community involvement and empowerment will be strengthened by a long term vision for energy self sufficiency for important sectors of the community, Community funding to evaluate and promote job creation in new and emerging technologies. Community funding to key areas of our voluntary sector.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: P R Hewitson
Status: Director