BRISTOL COMMUNITY ACCOUNTANTS CIC

Company Registration Number:
11836955 (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

BRISTOL COMMUNITY ACCOUNTANTS CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

BRISTOL COMMUNITY ACCOUNTANTS CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 158,955 146,940
Cost of sales: ( 4,691 ) ( 4,269 )
Gross profit(or loss): 154,264 142,671
Administrative expenses: ( 150,375 ) ( 137,688 )
Operating profit(or loss): 3,889 4,983
Interest receivable and similar income: 69
Profit(or loss) before tax: 3,958 4,983
Tax: ( 752 ) ( 947 )
Profit(or loss) for the financial year: 3,206 4,036

BRISTOL COMMUNITY ACCOUNTANTS CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 15,544 17,478
Cash at bank and in hand: 35,249 26,870
Total current assets: 50,793 44,348
Creditors: amounts falling due within one year: 4 ( 13,276 ) ( 10,037 )
Net current assets (liabilities): 37,517 34,311
Total assets less current liabilities: 37,517 34,311
Total net assets (liabilities): 37,517 34,311
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 37,507 34,301
Total Shareholders' funds: 37,517 34,311

The notes form part of these financial statements

BRISTOL COMMUNITY ACCOUNTANTS 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 12 April 2024
and signed on behalf of the board by:

Name: Geoff Archer
Status: Director

The notes form part of these financial statements

BRISTOL COMMUNITY ACCOUNTANTS 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.

BRISTOL COMMUNITY ACCOUNTANTS CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

BRISTOL COMMUNITY ACCOUNTANTS CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Trade debtors 14,106 14,367
Prepayments and accrued income 1,438 586
Other debtors 2,525
Total 15,544 17,478

BRISTOL COMMUNITY ACCOUNTANTS CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 51 173
Taxation and social security 12,017 9,864
Other creditors 1,208
Total 13,276 10,037

COMMUNITY INTEREST ANNUAL REPORT

BRISTOL COMMUNITY ACCOUNTANTS CIC

Company Number: 11836955 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Bristol Community Accountants CIC (BCA) specialises in providing accounting services to the charity and the not-for-profit sector. It provides support for organisations that are based in Bristol and the surrounding area. The organisations BCA supports are a mix of charities, charitable company’s, and CIC’s, and are quite diverse in their public benefit areas. Clients range from City Farms, bereavement Counsellors, Youth support provision, Homeless support groups, Refugee aid groups, to name but a few. The three main services provided are: a payroll bureau, a year-end accounts production service and independent examinations for charities, and a bookkeeping service. Alongside this BCA offer bespoke training and has continued to provide many hours of free telephone support and guidance for both existing clients and for organisations that were not active clients. Organisations that are newly formed or in the process of registering their organisation, often need guidance relating to their ongoing and future statutory obligations. BCA offer support and guidance at this early stage of formation, therefore allowing organisations to become confident and compliant from the beginning. Historically, a large proportion of the clients we support are classed as small with turnover levels of below £250,000 pa, however, over the past year, the number of clients moving above this turnover level and also moving above £500,000 pa is increasing. Our clients rely on volunteer trustee boards and often, part time administration staff to manage the financial governance of their organisations. These organisations may not always have the necessary skills to prepare their statutory accounts, run their payroll, or maintain bookkeeping records to meet the complex legal requirements of charity fund tracking. BCA not only supports its clients by completing these tasks on their behalf but also provides a vital point of contact via telephone or online meetings such as Zoom and Teams. During the year, BCA ran a monthly payroll service for 35 clients, with employee numbers ranging from one to nearly 50 per employer. This is a vital service for our clients who have volunteer management committees without the expertise required to manage a monthly payroll. We have also provided essential support to clients for areas such as pension compliance, redundancy calculations and term time only complexities. BCA provided 47 independent examinations for local charities and charitable companies. In most cases we support the trustees/directors in the preparation of the statutory accounts in addition to the independent examination process. This is again, due to trustee’s lack of expertise and knowledge in this area. We ensure the accounts are compliant with the Charities SORP FRS 102, the Charities Act 2011 and the Companies Act 2006. More and more of these charities now have the requirement to submit associated corporation tax returns to HMRC and BCA prepares and submits on behalf of those organisations. The number of clients requesting the bookkeeping service has again increased in number and complexity throughout the year and during the year we engaged with 18 clients to whom we are providing regular weekly/monthly bookkeeping service. Additional to the bookkeeping service, we prepare month end management accounts which our clients when reporting to their boards, funders and stakeholders. This is an invaluable service which continues to give our clients the confidence to concentrate on their public benefit activities whilst knowing that they have robust financial procedures in place. BCA works very closely with each organisation to build procedures and processes that meet both the client’s needs as well as fulfilling all legal obligations they may have. This is a service provision that continues to remain in demand and as such, we have employed an additional member of staff to cope with the increase level of work this has generated. BCA has continued to provide bespoke one to one training to organisations to ensure they effectively maintain their bookkeeping systems. More and more of our clients have moved their bookkeeping systems to cloud based software and this service is becoming more in demand as the use of cloud-based software increases. The support we offer can be as simple as reviewing their existing bookkeeping structures and offering advice on areas to improve, or full training on cloud-based accounting software. Clients can access support over the telephone for more simple queries or can attend a training session in the BCA office which can be structured to the individual’s needs. The increase in demand this year, and the complexity of our clients requirements due to changing legislation, funding requirements and employment law, continues to prove the need for an organisation such as ours and we are constantly striving to remain accessible to clients who do not have the support structures of larger organisations to cope with the legislative burdens of these changes.

Consultation with stakeholders

The company’s stakeholders are the charities, CIC’s and other not for profit organisations in the Bristol and surrounding area. There has been no specific consultation with our stakeholders. However, each year, when a client requires the yearly accounts production or independent examination, we meet with them to ask about their year, the activities of the organisation throughout the year and listen to any feedback they may have about our company and the services we offer. These meetings can take up to an hour and we feel this is the most effective way of engaging with our stakeholders on a regular basis. We meet with our bookkeeping clients on more regular basis, meeting with some of those clients weekly. Again, this allows us to closely engage with their needs and requirements. On occasion this has led to us producing guidance on a particular topic, or where we cannot help directly, find an alternative source for the client to investigate. For example, we are often asked to provide HR, employment law and VAT advice. These are complex area for charities, and we are able to put the clients in touch with HR and VAT specialists when appropriate.

Directors' remuneration

The 2 directors each received a yearly salary of £43,420 and £3,000 towards their pension. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 November 2024

And signed on behalf of the board by:
Name: Joanne Trowbridge
Status: Director