Registered number
10181238
GM Poverty Action Limited
Report and Accounts
31 May 2024
GM Poverty Action Limited
Registered number: 10181238
Directors' Report
The directors present their report and accounts for the year ended 31 May 2024.
Principal activities
The company's principal activity during the year continued to be to coordinate networks of organisations and individuals to reduce poverty across Greater Manchester.
Directors
The following persons served as directors during the year:
Thomas Skinner
Graham Whitham
Aileen Louise Edmunds
Robert Patrick Boyle
Rachel Louise Mather
Justin Anthony James
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 February 2025 and signed on its behalf.
Graham Whitham
Director
GM Poverty Action Limited
Profit and Loss Account
for the year ended 31 May 2024
2024 2023
£ £
Administrative expenses (570,374) (370,247)
Other operating income 590,407 395,696
Operating profit 33,296 25,449
Profit before taxation 33,296 25,449
Tax on profit - -
Profit for the financial year 33,296 25,449
GM Poverty Action Limited
Registered number: 10181238
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 16,800 8,968
Cash at bank and in hand 162,367 223,694
179,167 232,662
Creditors: amounts falling due within one year 4 (17,797) (104,588)
Net current assets 161,370 128,074
Net assets 161,370 128,074
Capital and reserves
Profit and loss account 161,370 128,074
Members' funds 161,370 128,074
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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.
Graham Whitham
Director
17/02/2025
GM Poverty Action Limited
Report to the directors on the preparation of the unaudited statutory accounts of GM Poverty Action Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GM Poverty Action Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of GM Poverty Action Limited, as a body, in accordance with the terms of our engagement letter dated 2 February 2018. Our work has been undertaken solely to prepare for your approval the accounts of GM Poverty Action Limited and state those matters that we have agreed to state to the Board of Directors of GM Poverty Action Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GM Poverty Action Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GM Poverty Action Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GM Poverty Action Limited. You consider that GM Poverty Action Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of GM Poverty Action Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Slade and Cooper Limited
Chartered Certified Accountants
Beehive Mill
Jersey Street
Manchester
M4 6JG
26/02/2025
GM Poverty Action Limited
Notes to the Accounts
for the year ended 31 May 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.
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 13 8
3 Debtors 2024 2023
£ £
Other debtors 16,800 8,968
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,520 1,200
Other creditors 15,277 103,388
17,797 104,588
5 Other information
GM Poverty Action Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
St Thomas Centre
Ardwick Green North
Manchester
M12 6FZ
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