THRIFTY ONE CIC

Company Registration Number:
SC655791 (Scotland)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

THRIFTY ONE CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THRIFTY ONE CIC

Directors' report period ended 29 February 2024

The directors present their report with the financial statements of the company for the period ended 29 February 2024

Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 29 February 2024

G F BROWN
J L BROWN
R E BROWN


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
29 November 2024

And signed on behalf of the board by:
Name: G F BROWN
Status: Director

THRIFTY ONE CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,323 1,654
Total fixed assets: 1,323 1,654
Current assets
Cash at bank and in hand: 31,943 21,850
Total current assets: 31,943 21,850
Creditors: amounts falling due within one year: 4 ( 22,878 ) ( 18,480 )
Net current assets (liabilities): 9,065 3,370
Total assets less current liabilities: 10,388 5,024
Total net assets (liabilities): 10,388 5,024
Capital and reserves
Called up share capital: 6 6
Profit and loss account: 10,382 5,018
Total Shareholders' funds: 10,388 5,024

The notes form part of these financial statements

THRIFTY ONE CIC

Balance sheet statements

For the year ending 29 February 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: G F BROWN
Status: Director

The notes form part of these financial statements

THRIFTY ONE CIC

Notes to the Financial Statements

for the Period Ended 29 February 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, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on reducing balance

THRIFTY ONE CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

THRIFTY ONE CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 2,940 2,940
Additions
Disposals
Revaluations
Transfers
At 29 February 2024 2,940 2,940
Depreciation
At 1 March 2023 1,286 1,286
Charge for year 331 331
On disposals
Other adjustments
At 29 February 2024 1,617 1,617
Net book value
At 29 February 2024 1,323 1,323
At 28 February 2023 1,654 1,654

THRIFTY ONE CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 1,421 275
Other creditors 21,457 18,205
Total 22,878 18,480

COMMUNITY INTEREST ANNUAL REPORT

THRIFTY ONE CIC

Company Number: SC655791 (Scotland)

Year Ending: 29 February 2024

Company activities and impact

The company operated two second-hand shops in Alyth selling clothes, bric-a-brac, small electrical items, toys, books and small furniture. This provided a local focus for the re-use of unwanted items. Thirty five volunteers helped to run the shops. The volunteers with social or mental health issues were supported and trained in various shop and customer-based skills. The shops provided a warm and welcoming environment for locals to pop in for social interaction with a chair and a hot drink given to some of the more frail or elderly customers. A pick-up and delivery service were provided for the benefit of those without transport or unable to carry large/heavy items. Cash donations were made to 38 local organisations/charities. A full-page article on the activities of Thrifty One was published every month in the community magazine ‘Alyth Voice’ including details of donations made to local groups

Consultation with stakeholders

The Alyth Community and the volunteers and the owners are the company’s main stakeholders. Every month the company published a full-page article, with photos, in the local magazine ‘Alyth Voice’, highlighting all the main news, and activities and donations. There was an active Facebook page with over 500 followers. The volunteers were consulted via quarterly meetings. Actions were agreed at the meetings. Monthly donations were suggested and agreed by the volunteers and management team.

Directors' remuneration

Directors’ received the following remuneration: Gordon Brown £4694 Ruth Brown £6894

Transfer of assets

Donations: 1st Alyth Girl Guides £225 45th Perthshire Beaver Cubs £400 Airlie Street Hall £82.50 Alyth & District Agricultural Society £400 Alyth & District Patient Transport Service £450 Alyth Brownie Pack £225 Alyth Community Support Group £997 Alyth Film Club £400 Alyth Friends of Guiding £469 Alyth Hill Users Group £500 Alyth in Bloom £600 Alyth Musical Society £100 Alyth Out of School Club £100 Alyth Path Network £450 Alyth Primary School Nursery £150 Alyth Senior Citizen Walking Group £300 Alyth Voice £400 Alyth Christmas Lights £574 Alyth Youth Partnership £500 Game Square £400 Stride for Life £295 Explorer Scouts (Morven Moyes) £150 Little Sherpa Transport £100 Macmillan House Perth £550 Maggies House Dundee £550 Meigle Musicality £400 Blairgowrie FC Juniors £100Explorer Scouts £400 Burnside Residents (Elizabeth) £110 Monthly Walkers (Robert McCarron) £200 Glenisla WRI £100 Dec.Org.Ukraine £581 Toutie Street Garden (S. Pople) £100

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

And signed on behalf of the board by:
Name: G F BROWN
Status: Director