for the Period Ended 31 December 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2024
Principal activities of the company
Additional information
The Company's stakeholders are its members. The Company has three classes of members, Individual, Corporate and Junior and applications for membership are made by downloading application forms from the company's website or asking for a form to be sent by post. The directors have also agreed that all general meetings of the Company will be held in the area of the wind farm and will be open to all members of the public. During the year, the CIC held its public AGM and Community Meeting at which the results of the previous year and the general strategy of the company for the forthcoming year was presented to the meeting and approved by members vote. All members and non members are welcome to attend the AGM.
Directors
The directors shown below have held office during the whole of the period from
1 January 2024
to
31 December 2024
The directors shown below have held office during the period of
29 April 2024
to
31 December 2024
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
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(
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Operating profit(or loss): |
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( |
Interest receivable and similar income: |
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Profit(or loss) before tax: |
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Tax: |
(
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(
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Profit(or loss) for the financial year: |
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As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Current assets | |||
Debtors: | 3 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 4 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2024
Basis of measurement and preparation
Turnover policy
Other accounting policies
for the Period Ended 31 December 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2024
2024 | 2023 | |
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£ | £ | |
Prepayments and accrued income |
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Total |
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for the Period Ended 31 December 2024
2024 | 2023 | |
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£ | £ | |
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Total |
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Under a grant funding agreement with Devon Wind Power Ltd, the company receives an annual community fund grant of £100,000 in August of each year. In 2011, the CIC received an initial first year grant of £1,000,000 which is being spent over the term of the agreement as agreed by the members at the first AGM. This means that since 2011 the CIC has received a total of £2,300,000 for use in the local community. The CIC started this year with an unspent balance of £493,543 onto which was added the annual grant of £100,000 and interest of £12,646 (net of tax). Grants totalling £152,923 were offered to 59 organisations during the year as set out in notes 3 to 7 of the financial statements. Recipients of all grants are encouraged to fix a plaque acknowledging the grant in order to encourage others to apply for similar grants. In total, up to the end of December 2024 the CIC has approved 592 grants to local groups and organisations to the extent of £1,809,457. The CIC spent £9,407 on company administration and finished the year with an unspent balance of £443,859.
No consultation with stakeholders
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
30 April 2025
And signed on behalf of the board by:
Name: Laurence Young
Status: Director