9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,798 1,616 8,414 2,987 2,054 5,041 3,373 3,811 6,819 6,819 6,819 xbrli:pure xbrli:shares iso4217:GBP 10652142 2023-04-01 2024-03-31 10652142 2024-03-31 10652142 2023-03-31 10652142 2022-04-01 2023-03-31 10652142 2023-03-31 10652142 2022-03-31 10652142 bus:Director15 2023-04-01 2024-03-31 10652142 core:WithinOneYear 2024-03-31 10652142 core:WithinOneYear 2023-03-31 10652142 core:RetainedEarningsAccumulatedLosses 2024-03-31 10652142 core:RetainedEarningsAccumulatedLosses 2023-03-31 10652142 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 10652142 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 10652142 core:Non-currentFinancialInstruments 2024-03-31 10652142 bus:SmallEntities 2023-04-01 2024-03-31 10652142 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10652142 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10652142 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 10652142 bus:FullAccounts 2023-04-01 2024-03-31 10652142 core:OfficeEquipment 2023-04-01 2024-03-31 10652142 core:OfficeEquipment 2023-03-31 10652142 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 10652142
Sortition Foundation
Company Limited by Guarantee
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Sortition Foundation
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
3,373
3,811
Investments
7
6,819
--------
-------
10,192
3,811
Current assets
Debtors
8
74,349
109,179
Cash at bank and in hand
67,779
55,965
---------
---------
142,128
165,144
Creditors: amounts falling due within one year
9
75,269
116,949
---------
---------
Net current assets
66,859
48,195
--------
--------
Total assets less current liabilities
77,051
52,006
Provisions
719
860
--------
--------
Net assets
76,332
51,146
--------
--------
Capital and reserves
Profit and loss account
76,332
51,146
--------
--------
Members funds
76,332
51,146
--------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sortition Foundation
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Ms R Davis
Director
Company registration number: 10652142
Sortition Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 32 Gilbert Close, Cambridge, Cambridgeshire, CB4 3HR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Company limited by guarantee
The company is limited by guarantee.
The liability of Members is limited to £1, being the amount that each Member undertakes to contribute to the assets of the company in the event of it being wound up.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 6 ).
6. Tangible assets
Equipment
£
Cost
At 1 April 2023
6,798
Additions
1,616
-------
At 31 March 2024
8,414
-------
Depreciation
At 1 April 2023
2,987
Charge for the year
2,054
-------
At 31 March 2024
5,041
-------
Carrying amount
At 31 March 2024
3,373
-------
At 31 March 2023
3,811
-------
7. Investments
Other investments other than loans
£
Cost
At 1 April 2023
Additions
6,819
-------
At 31 March 2024
6,819
-------
Impairment
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
6,819
-------
At 31 March 2023
-------
8. Debtors
2024
2023
£
£
Trade debtors
72,596
105,590
Other debtors
1,753
3,589
--------
---------
74,349
109,179
--------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,134
10,634
Social security and other taxes
25,778
31,945
Other creditors
45,357
74,370
--------
---------
75,269
116,949
--------
---------