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DIRECTORS' REPORT |
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FOR THEYEARENDED05/04/2024 |
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The directors present their report and accounts for theyearended05/04/2024 |
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DIRECTORS |
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The directors who served during theyearwere as follows: |
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L N Digiovanni |
M Pheasant |
R Shroff |
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STATEMENT OF DIRECTORS RESPONSIBILITIES |
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The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:
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- Select suitable accounting policies and then apply them consistently;
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- Make judgements and accounting estimates that are reasonable and prudent;
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- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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ACHIEVEMENTS AND PERFORMANCE |
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This report covers a period of significant changes for the organisation. Whilst undeniably there has been a large drop in revenue, which has resulted in us taking a big step back with regards to revenue growth; we have also made a huge leap forward in terms of assets.
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Since 2011 we have delivered an award winning paint reuse service for Cambridgeshire County Council managed by their third-party waste contractors. Following a protracted renegotiation period, after six months we were notified that the contract would not be renewed. This represented a drop of £90,000 in contracted income compared to the year before. Based on positive previous negotiations, the skilled staff were retained and redeployed to other duties including remanufacturing paint for future sales. For the first time in over a decade we had to enter into a redundancy consultation and had to make redundancies.
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Having undertaken a strategic review post Covid, we were already in the process of buying our existing factory building and the adjoining building. Due to our drop in revenue income we had to change our social investment fund raising strategy to a blend of social finance and capital grant funding.
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DIRECTORS' REPORT |
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FOR THEYEARENDED05/04/2024 |
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ACHIEVEMENTS AND PERFORMANCE (continued)
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The purchase was part funded (£312,000) by The Cambridgeshire and Peterborough Combined Authority's (CPCA) Market Towns programme which was awarded by Social Enterprise East of England (SEEE), the CPCA's delivery partner. The funding is specifically designed to support the growth of social entrepreneurship and boost the social economy ecosystem across market towns and rural areas.
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The remaining £150,000 towards the purchase was funded by SIB The Social Investment Business who provided blended grant and loan finance to support the capital purchase of what will called The REMO Eco Hub.
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In January 2024 we secured our forever home; a 13,513 square foot former factory which will be transformed with further funding to become a Circular Economy Social Enterprise Hub supporting 20 social enterprises to deliver a broad range of social and environmental benefits for the local Fenland community.
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We have also made investments in:
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An electric van and charging station
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A new website and videos
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Improved manufacturing equipment
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Printed British steel tins for our RM paints.
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We have also invested in our people by employing three young people on apprenticeships.
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Additionally we have spent more time recording and measuring our impact and can share that to date we have:
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Helped 280+ people into employment Signed up 9900+ householder members
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Rescued nearly 1 million litres of paint Redistributed over 273,000+ meals
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Processed 40,000+ PPE items Reused 35+ tonnes of movie props
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Rescued 450+ tonnes of furniture, appliances, carpet and homewares
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Benefitted over 500,000 individuals, 200 community groups and 52 community enterprises. |
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The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. |
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This report was approved by the board on04/04/2025 |
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L N Digiovanni |
Director |
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ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS |
OF CAMBRIDGESHIRE COMMUNITY REUSE AND RECYCLING NETWORK LTD, FOR THE YEAR ENDED 05/04/2024 |
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In order to assist you to fulfil your duties under the Companies Act 2006,
we have prepared for your approval the accounts of Cambridgeshire Community Reuse And Recycling Network Ltd for the year ended
05/04/2024 as set out on pages 6 to
11 from the company's accounting records and from
information and explanations you have given us. |
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As a practising member of the ACCA, we are subject to
its ethical and other professional requirements which are detailed on their website. |
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This report is made solely to the Board of Directors of Cambridgeshire Community Reuse And Recycling Network Ltd,
as a body, in accordance with the terms of our engagement letter dated 27/06/2024.
Our work has been undertaken solely to prepare for your approval the accounts of
Cambridgeshire Community Reuse And Recycling Network Ltd and state those matters that we have agreed to state to the Board of Directors
of Cambridgeshire Community Reuse And Recycling Network Ltd, as a body, in this report, in accordance with the requirements
of the ACCA as detailed on their website. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than Cambridgeshire Community Reuse And Recycling Network Ltd and its Board
of Directors as a body for our work or for this report. |
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It is your duty to ensure that Cambridgeshire Community Reuse And Recycling Network Ltd has kept adequate accounting
records and to prepare statutory accounts that give a true and fair view of the assets,
liabilities, financial position and profitability of Cambridgeshire Community Reuse And Recycling Network Ltd. You consider that
Cambridgeshire Community Reuse And Recycling Network Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the
accounts of Cambridgeshire Community Reuse And Recycling Network Ltd. 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. |
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Beeston-Clarke Accountants Limited |
Chartered Certified Accountants |
92 Gladstone Street |
Winsford |
Cheshire |
CW7 4AZ |
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04/04/2025 |
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BALANCE SHEET AT 05/04/2024 |
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| | | | | | 2024 | | | | 2023 |
| | Notes | | | | £ | | | | £ |
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FIXED ASSETS | | | | | | | | | | |
Tangible assets | | 6 | | | | 490,859 | | | | 25,066 |
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CURRENT ASSETS | | | | | | | | | | |
Stock | | | | 49,671 | | | | 15,746 | | |
Debtors | | 8 | | 8,003 | | | | 16,335 | | |
Cash at bank and in hand | | | | 9,255 | | | | 92,010 | | |
| | | | 66,929 | | | | 124,091 | | |
CREDITORS: Amounts falling due within one year | | 9 | | 58,728 | | | | 25,181 | | |
NET CURRENT ASSETS | | | | | | 8,201 | | | | 98,910 |
TOTAL ASSETS LESS CURRENT LIABILITIES | | | | | | 499,060 | | | | 123,976 |
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CREDITORS: Amounts falling due after more than one year | | 10 | | | | 431,230 | | | | - |
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NET ASSETS | | | | | | 67,830 | | | | 123,976 |
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CAPITAL AND RESERVES | | | | | | | | | | |
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Profit and loss account | | | | | | 67,830 | | | | 123,976 |
MEMBERS' FUNDS | | | | | | 67,830 | | | | 123,976 |
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For the year ending 05/04/2024 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. |
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Approved by the board on 04/04/2025 and signed on their behalf by | | | | | | | | | | |
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L N Digiovanni | | | | | | | | | | |
Director | | | | | | | | | | |
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............................. | | | | | | | | | | |
M Pheasant | | | | | | | | | | |
Director | | | | | | | | | | |
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PROFIT AND LOSS ACCOUNT SUMMARIES |
FOR THE YEAR ENDED 05/04/2024 |
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| | | | 2024 | | 2023 |
Administrative Expenses: | | | | | | |
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Rent | | | | 4,533 | | 6,800 |
Rates & water | | | | 1,927 | | 1,840 |
Insurance | | | | 1,512 | | 1,452 |
Heat and light | | | | 4,619 | | 8,897 |
Repairs and maintenance | | | | 1,809 | | 2,465 |
Directors salaries | | | | 55,770 | | 60,996 |
Directors pension | | | | 2,789 | | 3,050 |
Directors NIC | | | | 1,519 | | 4,227 |
Wages and salaries | | | | 78,644 | | 101,840 |
Pension contributions | | | | 1,579 | | 1,066 |
Training | | | | 1,260 | | 774 |
Motor expenses | | | | 10,572 | | 13,216 |
Travel and subsistence | | | | 2,332 | | 2,251 |
Accountancy fees | | | | 2,250 | | 3,200 |
Professional fees | | | | 3,150 | | 2,077 |
Printing, postage and stationery | | | | 1,432 | | 1,068 |
Telephone | | | | 1,450 | | 1,226 |
Subscriptions | | | | 410 | | 1,087 |
Charitable donations | | | | - | | 19 |
Social investment loan interest | | | | 3,623 | | - |
Sundry expenses | | | | 3,812 | | 2,787 |
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Depreciation and Amortisation: | | | | | | |
Depreciation of land and buildings | | | | 9,252 | | - |
Depreciation of fixtures and fittings | | | | 3,384 | | 2,586 |
Depreciation of computer equipment | | | | 153 | | 231 |
Depreciation of motor cars | | | | 9,017 | | 3,440 |
| | | | 206,798 | | 226,595 |
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This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only. |