Company registration number:
15353389
Teesworks Benevolent Foundation
Company limited by guarantee
Unaudited filleted financial statements
31 March 2025
Teesworks Benevolent Foundation
Company limited by guarantee
Contents
Statement of financial position
Notes to the financial statements
Teesworks Benevolent Foundation
Company limited by guarantee
Statement of financial position
31 March 2025
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31/03/25 |
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Note |
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£ |
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Fixed assets |
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Tangible assets |
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- |
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_______ |
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- |
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Current assets |
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Debtors |
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- |
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_______ |
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- |
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Creditors: amounts falling due |
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within one year |
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- |
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_______ |
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Net current liabilities |
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- |
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Total assets less current liabilities |
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- |
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Net assets |
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- |
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Capital and reserves |
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Profit and loss account |
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Members funds |
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- |
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For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 April 2025
, and are signed on behalf of the board by:
Mrs J M Corney
Director
Company registration number:
15353389
Teesworks Benevolent Foundation
Company limited by guarantee
Notes to the financial statements
Period ended 31 March 2025
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Wynyard Park House, Wynyard Avenue, Billingham, TS22 5TB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income
In this first period of activity, the company has been established in order to manage the distribution of resources gifted by Teesworks Limited in order to support community projects and local charities. The company records the monies received from Teesworks Limited as donations. All of the company's resources have been expended in the period ended 31 March 2025. In due course, the company intends to pursue an application to become registered as a charity with the Charity Commission.
4.
Limited by guarantee
The liability of the members is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he, she or it is a member or within one year after he, she of it ceases to be a member, for:
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payment of the company's debts and liabilities incurred before he, she or it ceases to be a member;
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payment of the costs, charges and expenses of winding up; and
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adjustment of the rights of the contributories among themselves.
5.
Company objectives
The company manages the distribution of resources gifted by Teesworks Limited in order to relieve poverty and social deprivation within the Tees Valley area. It is the intention of the company to apply for charitable status with the Charity Commission.