NORTHAMPTONSHIRE WOOD RECYCLING CIC

Company limited by guarantee

Company Registration Number:
09272206 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

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

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Directors

The director shown below has held office during the whole of the period from
1 November 2022 to 31 October 2023

Mr Darren Cooper


Secretary Mrs Angela Cooper

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
31 October 2024

And signed on behalf of the board by:
Name: Mr Darren Cooper
Status: Director

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 112,716 157,472
Cost of sales: ( 28,964 ) ( 40,238 )
Gross profit(or loss): 83,752 117,234
Administrative expenses: ( 100,557 ) ( 115,845 )
Other operating income: 3,823
Operating profit(or loss): (16,805) 5,212
Interest receivable and similar income: 5 1
Interest payable and similar charges: ( 862 ) ( 2,365 )
Profit(or loss) before tax: (17,662) 2,848
Profit(or loss) for the financial year: (17,662) 2,848

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,681 7,698
Total fixed assets: 2,681 7,698
Current assets
Debtors: 4 18,200 35,860
Cash at bank and in hand: 1,768 1,494
Total current assets: 19,968 37,354
Creditors: amounts falling due within one year: 5 ( 21,141 ) ( 25,882 )
Net current assets (liabilities): (1,173) 11,472
Total assets less current liabilities: 1,508 19,170
Creditors: amounts falling due after more than one year: 6 ( 17,000 ) ( 17,000 )
Total net assets (liabilities): (15,492) 2,170
Members' funds
Profit and loss account: (15,492) 2,170
Total members' funds: ( 15,492) 2,170

The notes form part of these financial statements

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Balance sheet statements

For the year ending 31 October 2023 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 31 October 2024
and signed on behalf of the board by:

Name: Mr Darren Cooper
Status: Director

The notes form part of these financial statements

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation. 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 25% Straight Line Motor Vehicles 20% Straight Line Computer Equipment 25% Straight Line

    Other accounting policies

    Leasing and Hire Purchase Contracts Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 901 1,092 27,594 29,587
Additions
Disposals
Revaluations
Transfers
At 31 October 2023 901 1,092 27,594 29,587
Depreciation
At 1 November 2022 386 508 20,995 21,889
Charge for year 225 273 4,519 5,017
On disposals
Other adjustments
At 31 October 2023 611 781 25,514 26,906
Net book value
At 31 October 2023 290 311 2,080 2,681
At 31 October 2022 515 584 6,599 7,698

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Trade debtors 1,295 7,786
Prepayments and accrued income 6,438 3,900
Other debtors 10,467 24,174
Total 18,200 35,860

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 681
Amounts due under finance leases and hire purchase contracts 2,676
Trade creditors 14,422 9,229
Taxation and social security 6,615 2,597
Other creditors 104 10,699
Total 21,141 25,882

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

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

2023 2022
£ £
Bank loans and overdrafts 17,000 17,000
Total 17,000 17,000

COMMUNITY INTEREST ANNUAL REPORT

NORTHAMPTONSHIRE WOOD RECYCLING CIC

Company Number: 09272206 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

We continue to offer cheap reclaimed timber to the general public with prices 50-60% cheaper than other high street retailers. We re-use and retail a greater percentage of the waste wood that we collect from our collection customers. We continue to offer an environmentally friendly alternative to waste timber disposal to our commercial and national building customers, offering them the benefit of reuse rather than recycle on their waste timber disposal. We have downsized our workshop to become encompassed within the shop unit, and have concentrated on the manufacture of bespoke shelves and tables. The young school leaver now works in the retail shop on a part time basis which has assisted them with their business studies at college.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Directors Remuneration in the year of £18534 was paid.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Mr Darren Cooper
Status: Director