SHARED ASSETS C.I.C.

Company limited by guarantee

Company Registration Number:
07879210 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

SHARED ASSETS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

SHARED ASSETS C.I.C.

Directors' report period ended 31 May 2024

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

Principal activities of the company

The company's principal activity during the year continued to be that of land management services.



Directors

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

Mark Walton
Katherine Swade
Louise Armstrong
Simon Ruston


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

Lauren Burnhill


The directors shown below have held office during the period of
1 September 2023 to 31 May 2024

Julia Dawn Peart
Ben Qasim Monks


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
26 February 2025

And signed on behalf of the board by:
Name: Mark Walton
Status: Director

SHARED ASSETS C.I.C.

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 448,505 410,160
Cost of sales: ( 161,836 ) ( 143,832 )
Gross profit(or loss): 286,669 266,328
Distribution costs: 0 0
Administrative expenses: ( 256,686 ) ( 286,978 )
Other operating income: 724 2,582
Operating profit(or loss): 30,707 (18,068)
Interest payable and similar charges: ( 585 ) ( 585 )
Profit(or loss) before tax: 30,122 (18,653)
Profit(or loss) for the financial year: 30,122 (18,653)

SHARED ASSETS C.I.C.

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 4,486 5,307
Total fixed assets: 4,486 5,307
Current assets
Debtors: 4 49,360 3,525
Cash at bank and in hand: 84,029 119,998
Total current assets: 133,389 123,523
Creditors: amounts falling due within one year: 5 ( 120,137 ) ( 48,311 )
Net current assets (liabilities): 13,252 75,212
Total assets less current liabilities: 17,738 80,519
Creditors: amounts falling due after more than one year: 6 ( 8,959 ) ( 101,862 )
Total net assets (liabilities): 8,779 (21,343)
Members' funds
Profit and loss account: 8,779 ( 21,343)
Total members' funds: 8,779 (21,343)

The notes form part of these financial statements

SHARED ASSETS C.I.C.

Balance sheet statements

For the year ending 31 May 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 26 February 2025
and signed on behalf of the board by:

Name: Mark Walton
Status: Director

The notes form part of these financial statements

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 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 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 depreciation policy

    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: Fixtures, fittings, tools and equipment - over 5 years

    Other accounting policies

    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. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 9 10

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 15,067 15,067
Additions 300 300
Disposals
Revaluations
Transfers
At 31 May 2024 15,367 15,367
Depreciation
At 1 June 2023 9,760 9,760
Charge for year 1,121 1,121
On disposals
Other adjustments
At 31 May 2024 10,881 10,881
Net book value
At 31 May 2024 4,486 4,486
At 31 May 2023 5,307 5,307

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Trade debtors 44,910 2,355
Other debtors 4,450 1,170
Total 49,360 3,525

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 9,000 9,000
Trade creditors 11,060 3,739
Taxation and social security 11,659 8,380
Other creditors 88,418 27,192
Total 120,137 48,311

SHARED ASSETS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 8,959 18,000
Other creditors 83,862
Total 8,959 101,862

COMMUNITY INTEREST ANNUAL REPORT

SHARED ASSETS C.I.C.

Company Number: 07879210 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

We act to benefit those people and organisations across the UK currently responsible for the use or management of land in ways that provide shared social, environmental and economic benefits, and those who seek to do so in the future. Between June 2023 and May 2024 we undertook the following activities: Undertook research work into: -measuring the social impacts of community orchard projects -how Community Land Trust models might be made greater use of for agroecological farming (not just housing) and what resources need to be created to support this -test the Healthy Parks Framework tool with communities in North and South London -how social enterprises can bring innovations in healthy and sustainable food with Middlesex University,, the University of Surrey, and Glasgow Caledonian University -the data and information needs of communities who are looking to secure assets in their local areas in partnership with Digital Commons Under took consultancy to: -provide pre application support for community organisations wishing to make an application to the UK-wide Community Ownership Fund -develop community ownership ownership options to provide alternative ownership options for retiring farmers as part of their succession planning for their land -support a group of landowners in Scotland to explore and develop a governance model that would help them to receive and distribute natural capital finance -work with Sheffield Council to facilitate a meeting of local stakeholders to explore how they best use land in the city to meet their climate change ambitions Undertook movement building work to: -provide an online learning space for individuals and organisations working on land justice issues -design and deliver a two day national gathering for 40 people working on land justice issues -develop a chapter for a Land Action Guidebook focusing on reparations with Queen Mary University London -facilitate a collective of organisations working on land justice issues to consider how they could more effectively collaborate on communications work and the production and dissemination of resources -support the development of other organisations working on land justice issues by providing financial administration services and strategic development support

Consultation with stakeholders

Our stakeholders include funders, research institutions, infrastructure organisations that support land based community businesses, and other organisations advocating for a fairer and more sustainable land system. Our main consultation with stakeholders over this period has included: -regular online Land Justice Learning sessions which explore how Shared Assets might most usefully act as infrastructure to to this growing sector of organisations and activists -a 2 day residential for individuals who have a coordinating role within the land justice movement -working groups to codesign future events and to ensure accountability of / to the wider movement and to ensure that future events address issues of social justice and create systems of care in movement spaces -undertaking work with stakeholders to explore how Shared Assets might act as a facilitator and infrastructure to enable greater collaboration with respect to communications, resource production and dissemination for land justice organisations -met with partners and stakeholders to help to shape our future strategy of developing the organisation as infrastructure for an emerging land movement

Directors' remuneration

Mark Walton was an Executive Directors during this period and so drew a salary. During this period he was employed on a 0.4 FTE basis. Mark Walton was paid a gross salary of £39,818.71 for a four day week as agreed and approved by the Non Executive members of the Board. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 February 2025

And signed on behalf of the board by:
Name: Mark Walton
Status: Director