Company Registration No. 02870293 (England and Wales)
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
390
1,614
Current assets
Stocks
200
200
Debtors
5
21,037
25,789
Cash at bank and in hand
237,663
173,643
258,900
199,632
Creditors: amounts falling due within one year
6
(43,000)
(40,064)
Net current assets
215,900
159,568
Total assets less current liabilities
216,290
161,182
Reserves
Pre-incorporation reserve
1,835
1,835
Income and expenditure account
General
41,710
36,794
Projects
10
172,745
122,553
Members' funds
216,290
161,182
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
Mrs D Gooch
Director
Company Registration No. 02870293
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Wiltshire Community Care User Involvement Network is a private company limited by guarantee incorporated in England and Wales. The registered office is The Independent Living Centre, St George's Road, Semington, Trowbridge, Wiltshire, BA14 6JQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has cash reserves and required no external borrowing. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This has been supported by the fact that the company continues to seek additional funding from a number of sources. The Management Committee have met regularly in order to review the cashflow situation to ensure that the company have adequate resources. The Management Committee therefore continue to believe the going concern basis of accounting is appropriate in preparing the annual financial statements.true
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
50% per annum on straight line method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stock represents stationery and postage unused at the year end and is valued at the lower of cost and net realisable value.
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Grants
General grants are credited to turnover within the general income and expenditure account. Grants for projects are shown in the projects income and expenditure account. Grants towards the purchase of specific fixed assets are deducted from cost.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons employed by the company during the year was 8 (2023 - 9).
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
11,873
Additions
779
At 31 March 2024
12,652
Depreciation and impairment
At 1 April 2023
10,259
Depreciation charged in the year
2,003
At 31 March 2024
12,262
Carrying amount
At 31 March 2024
390
At 31 March 2023
1,614
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,897
25,606
Other debtors
3,141
183
21,038
25,789
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,656
3,742
Taxation and social security
1,492
1,847
Other creditors
37,852
34,475
43,000
40,064
7
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
7,363
6,396
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
8
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
9
Directors' transactions
Directors' travel expenses of £717 were paid during the year (2023: £234).
WILTSHIRE COMMUNITY CARE USER INVOLVEMENT NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
10
Summary of the project income and expenditure account
Surplus
Surplus
B/Fwd
Income
Expenditure
C/Fwd
£
£
£
£
Wellbeing and Mental Health
25,479
-
(1,348)
24,131
User Involvement
18,762
-
-
18,762
Wheelchair Users Forum
860
-
-
860
Older People
10,031
-
-
10,031
Wiltshire College
(54)
1,264
(1,210)
-
Wiltshire Independent Travel Support - Wiltshire
34,071
-
-
34,071
Wiltshire Independent Travel Support - Banes
-
33,952
(33,952)
-
The National Lottery Community Fund RC South West Region
10,365
109,049
(80,091)
39,323
BSW ICBC Autism Hub
20,011
105,778
(83,495)
42,294
Ministry of Justice Domestic Abuse
-
5,004
(5,004)
-
WASP Walking Buddy Scheme
-
500
(500)
-
3 M's
1,117
950
(308)
1,759
Calne Dementia
-
1,000
(1,000)
-
Calne Reconnecting
220
2,000
(2,057)
163
Singing Group
1,099
939
(2,030)
8
Wiltshire Council Practice Educator
92
440
(389)
143
Autism Awareness
500
-
-
500
RESN Fund
-
700
-
700
Voice it Hear it
-
1,000
(1,000)
-
World Mental Health Day Fund
-
900
(900)
-
122,553
263,476
(213,284)
172,745
After the year end, an amount totaling £22,283 was repaid to the BSW ICBC Autism Hub as a result of an underspend in the year to 31 March 2024.