Neighbourhood Resource Centre |
Registered number: |
11560800 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
537,389 |
|
|
470,000 |
|
Current assets |
Debtors |
4 |
|
171,518 |
|
|
- |
Cash at bank and in hand |
|
|
33,602 |
|
|
88,851 |
|
|
|
205,120 |
|
|
88,851 |
|
Creditors: amounts falling due within one year |
5 |
|
(37,141) |
|
|
(53,366) |
|
Net current assets |
|
|
|
167,979 |
|
|
35,485 |
|
Total assets less current liabilities |
|
|
|
705,368 |
|
|
505,485 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(513,859) |
|
|
(373,354) |
|
Net assets |
|
|
|
191,509 |
|
|
132,131 |
|
|
|
|
|
|
|
|
Funds |
Unrestricted funds |
|
|
|
191,509 |
|
|
132,131 |
|
Total funds |
|
|
|
191,509 |
|
|
132,131 |
|
|
|
|
|
|
|
|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees and directors acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Shahidur Rahman |
Trustee & Director |
Approved by the board on 9 January 2025 |
|
Neighbourhood Resource Centre |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Land and buildings |
No depreciation charge |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
Land and buildings |
|
Total |
£ |
£ |
|
Cost |
|
At 1 April 2023 |
470,000 |
|
470,000 |
|
Additions |
537,389 |
|
537,389 |
|
Disposals |
(470,000) |
|
(470,000) |
|
At 31 March 2024 |
537,389 |
|
537,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
537,389 |
|
537,389 |
|
At 31 March 2023 |
470,000 |
|
470,000 |
|
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
171,517 |
|
- |
|
|
|
|
|
|
171,517 |
|
- |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
36,141 |
|
- |
|
Other creditors |
1,000 |
|
53,366 |
|
|
|
|
|
|
37,141 |
|
53,366 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
333,859 |
|
- |
|
Other creditors |
180,000 |
|
373,354 |
|
|
|
|
|
|
513,859 |
|
373,354 |
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
|
|
Neighbourhood Resource Centre is a private company limited by guarantee (not having a share capital) and registered charity which is incorporated in England. Its registered office is: |
|
Neighbourhood Resource Centre |
|
Ventnor Street |
|
Bradford |
|
West Yorkshire |
|
BD3 9JP |