ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07932623 (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

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

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

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

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

M Ditchfield
G Williams


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
27 November 2024

And signed on behalf of the board by:
Name: M Ditchfield
Status: Director

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 8,100 2,025
Gross profit(or loss): 8,100 2,025
Administrative expenses: ( 22,506 ) ( 11,146 )
Operating profit(or loss): (14,406) (9,121)
Interest receivable and similar income: 418 147
Interest payable and similar charges: ( 1,864 )
Profit(or loss) before tax: (15,852) (8,974)
Tax: ( 3,122 )
Profit(or loss) for the financial year: (15,852) (12,096)

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 253,633 253,633
Total fixed assets: 253,633 253,633
Current assets
Cash at bank and in hand: 38,581 130,401
Total current assets: 38,581 130,401
Creditors: amounts falling due within one year: 4 ( 40,235 ) ( 116,203 )
Net current assets (liabilities): (1,654) 14,198
Total assets less current liabilities: 251,979 267,831
Total net assets (liabilities): 251,979 267,831
Members' funds
Profit and loss account: 251,979 267,831
Total members' funds: 251,979 267,831

The notes form part of these financial statements

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

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

Name: M Ditchfield
Status: Director

The notes form part of these financial statements

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

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

    Turnover policy

    Turnover represents rental income from furnished accommodation accounted for on a receivable basis inclusive of VAT.

    Other accounting policies

    Investment properties Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. 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. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 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. 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. 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. 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.

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

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 187,837 65,796 253,633
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 187,837 65,796 253,633
Depreciation
At 1 April 2023
Charge for year
On disposals
Other adjustments
At 31 March 2024
Net book value
At 31 March 2024 187,837 65,796 253,633
At 31 March 2023 187,837 65,796 253,633

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 26,065 85,559
Other creditors 14,170 30,644
Total 40,235 116,203

COMMUNITY INTEREST ANNUAL REPORT

ACCESS TO TRAINING AND EMPLOYMENT COMMUNITY INTEREST COMPANY

Company Number: 07932623 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Access to Training & Employment CIC provides training for disaffected young people. We have also provided accommodation for some of the same young people and for families who have no where to live on the waiting list for a property/social housing rent. At the moment we have no training contracts but this last year we have maintained a property, we have totally renovated for a young family. We are in the process of looking for another property to renovate for another young family at an affordable social rent.

Consultation with stakeholders

All the social housing we have provided over the years has been supported by our local North West regional ban k manager. They continue to offer help and support as we look for another property to renovate to house a family in need of accommodation.

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
27 November 2024

And signed on behalf of the board by:
Name: M Ditchfield
Status: Director