WATERSHIP FARM COMMUNITY CIC

Company limited by guarantee

Company Registration Number:
11530055 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

WATERSHIP FARM COMMUNITY CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WATERSHIP FARM COMMUNITY CIC

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 136,802 139,648
Total fixed assets: 136,802 139,648
Current assets
Debtors: 4 3,935
Cash at bank and in hand: 16,238 13,679
Total current assets: 16,238 17,614
Creditors: amounts falling due within one year: 5 ( 10,676 ) ( 13,412 )
Net current assets (liabilities): 5,562 4,202
Total assets less current liabilities: 142,364 143,850
Creditors: amounts falling due after more than one year: 6 ( 23,800 ) ( 29,400 )
Total net assets (liabilities): 118,564 114,450
Members' funds
Profit and loss account: 118,564 114,450
Total members' funds: 118,564 114,450

The notes form part of these financial statements

WATERSHIP FARM COMMUNITY CIC

Balance sheet statements

For the year ending 31 August 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.

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 1 April 2025
and signed on behalf of the board by:

Name: Lisa Nash
Status: Director

The notes form part of these financial statements

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 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 relates to the period of the accounts. Turnover consists of mooring fees received from members and others, and miscellaneous sales.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold not depreciated Plant & Machinery 10-20% straight line basis

    Other accounting policies

    2.4. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 120,000 22,725 142,725
Additions
Disposals
Revaluations
Transfers
At 31 August 2024 120,000 22,725 142,725
Depreciation
At 1 September 2023 3,077 3,077
Charge for year
On disposals
Other adjustments 2,846 2,846
At 31 August 2024 5,923 5,923
Net book value
At 31 August 2024 120,000 16,802 136,802
At 31 August 2023 120,000 19,648 139,648

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 195
Prepayments and accrued income 3,740
Total   3,935

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 1,683 1,468
Accruals and deferred income 1,991 2,143
Other creditors 7,002 9,801
Total 10,676 13,412

WATERSHIP FARM COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

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

2024 2023
£ £
Other creditors 23,800 29,400
Total 23,800 29,400

COMMUNITY INTEREST ANNUAL REPORT

WATERSHIP FARM COMMUNITY CIC

Company Number: 11530055 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

Watership Farm is a mixed-use farm / small holding with canal side moorings benefiting the boating community and amenity users of the canal and towpath on the Kennet and Avon Canal near Bath. The company has provided mooring, workshop space, opportunities for allotment gardening and small-scale agriculture, a safe space for social activities, off-street car parking. It has enhanced the environment and bio-diversity of the farm through planting and management for the benefit of all users of the canal. It also has provided a water system for all moored boats and the clearing up of the previous owners debris is now almost complete, allowing the yard to be used to process wood for logs for members to use for heating.

Consultation with stakeholders

The Company holds monthly director meetings and monthly member social meetings, plus at least four general meetings a year, with an agenda in advance, to discuss any business including rules, projects, finances, etc. Plus an Annual General Meeting, all in accordance with CIC. Directors, General and Annual General Meeting are all minuted.

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
1 April 2025

And signed on behalf of the board by:
Name: Lisa Nash
Status: Director