HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Company Registration Number:
09809428 (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

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

David Malins
Scott Crowley


The director shown below has held office during the period of
1 April 2023 to 23 November 2023

Paul Murray


The director shown below has held office during the period of
23 November 2023 to 31 March 2024

Julie Taylor


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: David Malins
Status: Director

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 2,404 1,949
Cost of sales: 0 0
Gross profit(or loss): 2,404 1,949
Distribution costs: 0 0
Administrative expenses: ( 6,218 ) ( 7,029 )
Other operating income: 0 0
Operating profit(or loss): (3,814) (5,080)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (3,814) (5,080)
Tax: 0 0
Profit(or loss) for the financial year: (3,814) (5,080)

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 55,000 60,000
Investments:   0 0
Total fixed assets: 55,000 60,000
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 1,703 517
Investments:   0 0
Total current assets: 1,703 517
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 200 ) ( 200 )
Net current assets (liabilities): 1,503 317
Total assets less current liabilities: 56,503 60,317
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 56,503 60,317
Capital and reserves
Called up share capital: 40,090 40,090
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 16,413 20,227
Total Shareholders' funds: 56,503 60,317

The notes form part of these financial statements

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

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 29 November 2024
and signed on behalf of the board by:

Name: David Malins
Status: Director

The notes form part of these financial statements

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

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

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant & machinery - 10 years straight line basis

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 70,000 70,000
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 70,000 70,000
Depreciation
At 1 April 2023 10,000 10,000
Charge for year 5,000 5,000
On disposals
Other adjustments
At 31 March 2024 15,000 15,000
Net book value
At 31 March 2024 55,000 55,000
At 31 March 2023 60,000 60,000

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 200 200
Total 200 200

COMMUNITY INTEREST ANNUAL REPORT

HEREFORDSHIRE COMMUNITY NETWORKS C.I.C.

Company Number: 09809428 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Herefordshire Community Networks (HCN) has built an in-ground fibreoptic network around the area of Dewsall and Callow. It’s partner company, Pure Fibre, uses this network to provide high speed internet services to it’s shareholders and customers, a service which is unlikely to have been provided by large internet companies within a reasonable timeframe. HCN’s income comes from the charge it makes Pure Fibre to use it’s fibre network to transmit broadband services. If surplus income was ever generated - which has not yet occurred - it would be used to support initiatives and services within the local community.

Consultation with stakeholders

HCN’s stakeholders are the local community, it’s customers, shareholders, directors and associated companies - Wansdyke Ltd, Fibre options Ltd and Pure Fibre. There is also a recommended local IT engineer who provides technical support. The company holds regular director meetings and where necessary shareholder and customer meetings. An AGM is held in the autumn each year with shareholders and customers with an annual report and accounts. Email and phone contact is made with customers and shareholders when it is required to keep the full community up-to-date with progress and developments in the network. Feedback from shareholders and customers is taken into account when directors are making any decisions. Service satisfaction is high and the company has been recognised by both EU and UK organisations as exceptional in its approach to rural broadband network provision.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: David Malins
Status: Director