CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
06906130 (England and Wales)

Unaudited statutory accounts for the year ended 10 April 2025

Period of accounts

Start date: 1 June 2024

End date: 10 April 2025

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 10 April 2025

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Directors' report period ended 10 April 2025

The directors present their report with the financial statements of the company for the period ended 10 April 2025

Principal activities of the company

The CIC has sold and donated it's remaining fixed assets and will be transferring the remaining bank balance per the balance sheet to it's named asset locked body in accordance with the Articles of Association.



Directors

The director shown below has held office during the whole of the period from
1 June 2024 to 10 April 2025

Annette Rule


The director shown below has held office during the period of
1 June 2024 to 22 July 2024

Nicola Townsend


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
11 April 2025

And signed on behalf of the board by:
Name: Annette Rule
Status: Director

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Balance sheet

As at 10 April 2025

Notes 10 months to 10 April 2025 2024


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 8,203
Investments:   0 0
Total fixed assets: 0 8,203
Current assets
Stocks:   0 0
Debtors: 4 0 1,773
Cash at bank and in hand: 26,840 44,760
Investments:   0 0
Total current assets: 26,840 46,533
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 0 ( 2,193 )
Net current assets (liabilities): 26,840 44,340
Total assets less current liabilities: 26,840 52,543
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 26,840 52,543
Members' funds
Profit and loss account: 26,840 52,543
Total members' funds: 26,840 52,543

The notes form part of these financial statements

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 10 April 2025 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 11 April 2025
and signed on behalf of the board by:

Name: Annette Rule
Status: Director

The notes form part of these financial statements

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 10 April 2025

  • 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

    Income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Income includes revenue earned from the sale of goods and from the rendering of services. Income from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Income 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: Leasehold land and buildings over the lease term Mopeds & electric bikes 33% reducing balance Equipment & motor vehicles 25% reducing balance

    Other accounting policies

    Format of Accounts The Directors consider that the headings of the income and expenditure used in these accounts are more relevant to this company's trading activities than those set out in the Companies Act 2006. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. 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 (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.

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 10 April 2025

  • 2. Employees

    10 months to 10 April 2025 2024
    Average number of employees during the period 1 3

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 10 April 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2024 12,350 2,689 16,501 31,540
Additions
Disposals ( 12,350 ) ( 2,689 ) ( 16,501 ) ( 31,540 )
Revaluations
Transfers
At 10 April 2025 0 0 0 0
Depreciation
At 1 June 2024 4,941 2,595 15,801 23,337
Charge for year
On disposals ( 4,941 ) ( 2,595 ) ( 15,801 ) ( 23,337 )
Other adjustments
At 10 April 2025 0 0 0 0
Net book value
At 10 April 2025 0 0 0 0
At 31 May 2024 7,409 94 700 8,203

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 10 April 2025

4. Debtors

10 months to 10 April 2025 2024
£ £
Other debtors 0 1,773
Total 0 1,773

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 10 April 2025

5. Creditors: amounts falling due within one year note

10 months to 10 April 2025 2024
£ £
Other creditors 0 2,193
Total 0 2,193

COMMUNITY INTEREST ANNUAL REPORT

CORNWALL WHEELS TO WORK COMMUNITY INTEREST COMPANY

Company Number: 06906130 (England and Wales)

Year Ending: 10 April 2025

Company activities and impact

The CIC has sold and donated it's remaining fixed assets and will be transferring the remaining bank balance per the balance sheet to it's named asset locked body in accordance with the Articles of Association.

Consultation with stakeholders

All stakeholders have been notified of the CICs closure.

Directors' remuneration

The total amount paid to the remaining director in respect of qualifying services was £11,291.

Transfer of assets

After a long period of time trying to sell 5 of the fixed assets remaining the 4 electric bikes were donated to a local e-bike project run by a registered charity and the remaining moped was donated to a local college. The asset lock organisation named in the articles of association didn’t want to take ownership of physical assets. Note that the remaining fixed assets were sold for full consideration and the remaining balance in the bank account will be transferred to the asset lock organisation named in the articles of association.

This report was approved by the board of directors on
11 April 2025

And signed on behalf of the board by:
Name: Annette Rule
Status: Director