Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31To provide direct advice and support services and to engage in debates to find mutual solutions for challenges being faced by communities.72023-04-01false7falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03944484 2023-04-01 2024-03-31 03944484 2022-04-01 2023-03-31 03944484 2024-03-31 03944484 2023-03-31 03944484 2022-04-01 03944484 c:CompanySecretary1 2023-04-01 2024-03-31 03944484 c:Director1 2023-04-01 2024-03-31 03944484 c:Director2 2023-04-01 2024-03-31 03944484 c:Director3 2023-04-01 2024-03-31 03944484 c:Director4 2023-04-01 2024-03-31 03944484 c:Director5 2023-04-01 2024-03-31 03944484 c:Director6 2023-04-01 2024-03-31 03944484 c:RegisteredOffice 2023-04-01 2024-03-31 03944484 d:OfficeEquipment 2023-04-01 2024-03-31 03944484 d:OfficeEquipment 2024-03-31 03944484 d:OfficeEquipment 2023-03-31 03944484 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03944484 d:ComputerEquipment 2023-04-01 2024-03-31 03944484 d:CurrentFinancialInstruments 2024-03-31 03944484 d:CurrentFinancialInstruments 2023-03-31 03944484 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03944484 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03944484 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03944484 d:RetainedEarningsAccumulatedLosses 2024-03-31 03944484 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 03944484 d:RetainedEarningsAccumulatedLosses 2023-03-31 03944484 d:RetainedEarningsAccumulatedLosses 2022-04-01 03944484 c:FRS102 2023-04-01 2024-03-31 03944484 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03944484 c:FullAccounts 2023-04-01 2024-03-31 03944484 c:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 03944484 2 2023-04-01 2024-03-31 03944484 6 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03944484









CO-OPERATIVE FUTURES LTD
(A Company Limited by Guarantee)







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
 
 
COMPANY INFORMATION


Directors
S Allsopp 
N Greenhill 
P Mather 
B Rainford 
B Titley 
J White 




Company secretary
J White



Registered number
03944484



Registered office
City Works
Alfred Street

Gloucester

Gloucestershire

GL1 4DF




Accountants
The Alanbrookes Group Ltd

24 Glove Factory Studios

Holt

Wiltshire

BA14 6RL





 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Directors' Report
1
Accountants' Report
2
Statement of Comprehensive Income
3
Balance Sheet
4 - 5
Statement of Changes in Equity
6
Notes to the Financial Statements
7 - 12


 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors

The directors who served during the year were:

S Allsopp 
N Greenhill 
P Mather 
B Rainford 
B Titley 
J White 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 16 October 2024 and signed on its behalf.
 





J White
Director

Page 1

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CO-OPERATIVE FUTURES LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Co-operative Futures Ltd for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Co-operative Futures Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Co-operative Futures Ltd  and state those matters that we have agreed to state to the Board of Directors of Co-operative Futures Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Co-operative Futures Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Co-operative Futures Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Co-operative Futures Ltd. You consider that Co-operative Futures Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Co-operative Futures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



The Alanbrookes Group Ltd
 
24 Glove Factory Studios
Holt
Wiltshire
BA14 6RL
18 October 2024
Page 2

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
  
131,638
102,069

Cost of sales
  
(3,936)
(5,187)

Gross profit
  
127,702
96,882

Administrative expenses
  
(122,535)
(115,602)

Other operating income
  
96
89

Operating profit/(loss)
  
5,263
(18,631)

Interest receivable and similar income
  
1,221
628

Profit/(loss) before tax
  
6,484
(18,003)

Tax on profit/(loss)
  
(94)
2,215

Profit/(loss) for the financial year
  
6,390
(15,788)

Other comprehensive income for the year
  

  

Total comprehensive income for the year
  
6,390
(15,788)

The notes on pages 7 to 12 form part of these financial statements.

Page 3

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03944484

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
974
1,014

Investments
 5 
5,272
5,269

  
6,246
6,283

Current assets
  

Debtors: amounts falling due within one year
 6 
74,624
56,625

Cash at bank and in hand
 7 
57,960
81,699

  
132,584
138,324

Creditors: amounts falling due within one year
 8 
(17,427)
(29,594)

Net current assets
  
 
 
115,157
 
 
108,730

Total assets less current liabilities
  
121,403
115,013

  

Net assets
  
121,403
115,013


Capital and reserves
  

Profit and loss account
  
121,403
115,013

  
121,403
115,013


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2024.




J White
Director

The notes on pages 7 to 12 form part of these financial statements.
Page 4

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03944484
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Page 5

 
CO-OPERATIVE FUTURES LTD
 
(A Company Limited by Guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Profit and loss account
Total equity

£
£


At 1 April 2022
130,801
130,801


Comprehensive income for the year

Loss for the year

(15,788)
(15,788)


Other comprehensive income for the year
-
-


Total comprehensive income for the year
(15,788)
(15,788)


Total transactions with owners
-
-



At 1 April 2023
115,013
115,013


Comprehensive income for the year

Profit for the year

6,390
6,390


Other comprehensive income for the year
-
-


Total comprehensive income for the year
6,390
6,390


Total transactions with owners
-
-


At 31 March 2024
121,403
121,403


The notes on pages 7 to 12 form part of these financial statements.

Page 6

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Co-operative Futures Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 03944484. 
The registered office is City Works, Alfred Street, Gloucester, Gloucestershire, GL1 4DF.
Co-operative Futures is a business development consultancy specialising in co-operative, mutual and community led businesses.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 7

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Office equipment
-
10%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 8

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
6
6



Staff
1
1

7
7

Page 9

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
2,657


Additions
333



At 31 March 2024

2,990



Depreciation


At 1 April 2023
1,644


Charge for the year on owned assets
372



At 31 March 2024

2,016



Net book value



At 31 March 2024
974



At 31 March 2023
1,014


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
5,269


Additions
3



At 31 March 2024
5,272




Page 10

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
17,940
6,834

Other debtors
46,275
47,590

Prepayments and accrued income
10,409
2,201

74,624
56,625


Other debtors include £46,275 Midcounties bonds (2023: £45,375).


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
57,960
81,699

57,960
81,699



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,461
9,350

Corporation tax
94
-

Other taxation and social security
11,178
4,979

Other creditors
2,910
805

Accruals and deferred income
1,784
14,460

17,427
29,594




9.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 11

 
CO-OPERATIVE FUTURES LTD

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Controlling party

The company's controlling party is The People Co-operative Limited. 

 
Page 12