FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
06033219 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 December 2024

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

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Directors' report period ended 31 December 2024

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

Principal activities of the company

The principal activity of the company during the year was to make grants to assist in the provision of efficient energy, sustainable transport, recreational facilities, community safety and other public amenities for the benefit of people within the North Devon District and in particular those living near to the Fullabrook Wind Farm. The directors meet about every six weeks to assess applications received for grant funding from community organisations in North Devon. The application process and the necessary forms are all available on the CIC’s website www.fullabrook-cic.org.

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

Susannah Batstone
Tom Donovan
James Lethaby
Yvonne Liddon
Ross Moon
John Stainer
Richard Tarr
Laurence Young


The directors shown below have held office during the period of
29 April 2024 to 31 December 2024

Rod Chatfield
Bob Thompson


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
30 April 2025

And signed on behalf of the board by:
Name: Laurence Young
Status: Director

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 100,000 100,000
Gross profit(or loss): 100,000 100,000
Distribution costs: ( 152,923 ) ( 94,332 )
Administrative expenses: ( 9,407 ) ( 9,444 )
Operating profit(or loss): (62,330) (3,776)
Interest receivable and similar income: 15,599 8,226
Profit(or loss) before tax: (46,731) 4,450
Tax: ( 2,953 ) ( 1,563 )
Profit(or loss) for the financial year: (49,684) 2,887

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 0 262
Cash at bank and in hand: 465,018 496,499
Total current assets: 465,018 496,761
Creditors: amounts falling due within one year: 4 ( 21,159 ) ( 3,218 )
Net current assets (liabilities): 443,859 493,543
Total assets less current liabilities: 443,859 493,543
Total net assets (liabilities): 443,859 493,543
Members' funds
Profit and loss account: 443,859 493,543
Total members' funds: 443,859 493,543

The notes form part of these financial statements

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 December 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 30 April 2025
and signed on behalf of the board by:

Name: Laurence Young
Status: Director

The notes form part of these financial statements

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 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

    Grants received under the Grant Funding Agreement are brought into the profit and loss account when such grants become receivable.

    Other accounting policies

    Grants payable to community organisations are charged to the profit and loss account when such grants are allocated by the directors. Grants unpaid at the year end are shown on the balance sheet as creditors.

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Debtors

2024 2023
£ £
Prepayments and accrued income 0 262
Total 0 262

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 17,590 1,050
Taxation and social security 2,964 1,563
Accruals and deferred income 605 605
Total 21,159 3,218

COMMUNITY INTEREST ANNUAL REPORT

FULLABROOK WIND FARM COMMUNITY INTEREST COMPANY

Company Number: 06033219 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

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.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

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