2ND TIME AROUND (LOFTUS) CIC

Company limited by guarantee

Company Registration Number:
15103902 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 30 August 2023

End date: 31 August 2024

2ND TIME AROUND (LOFTUS) CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

2ND TIME AROUND (LOFTUS) CIC

Profit And Loss Account

for the Period Ended 31 August 2024

2024


£
Turnover: 11,820
Cost of sales: ( 736 )
Gross profit(or loss): 11,084
Administrative expenses: ( 17,007 )
Operating profit(or loss): (5,923)
Profit(or loss) before tax: (5,923)
Profit(or loss) for the financial year: (5,923)

2ND TIME AROUND (LOFTUS) CIC

Balance sheet

As at 31 August 2024

Notes 2024


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 497
Investments:   0
Total fixed assets: 497
Current assets
Cash at bank and in hand: 1,309
Total current assets: 1,309
Creditors: amounts falling due within one year: 4 ( 7,730 )
Net current assets (liabilities): (6,421)
Total assets less current liabilities: (5,924)
Total net assets (liabilities): (5,924)
Members' funds
Profit and loss account: (5,924)
Total members' funds: ( 5,924)

The notes form part of these financial statements

2ND TIME AROUND (LOFTUS) 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.

This report was approved by the board of directors on 1 June 2025
and signed on behalf of the board by:

Name: Carolyn Bateman
Status: Director

The notes form part of these financial statements

2ND TIME AROUND (LOFTUS) 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 Financial Reporting Standard 101

2ND TIME AROUND (LOFTUS) CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024
    Average number of employees during the period 3

    Employees are volunteers

2ND TIME AROUND (LOFTUS) 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 £ £ £ £ £ £
Additions 497 497
Disposals
Revaluations
Transfers
At 31 August 2024 497 497
Depreciation
Charge for year
On disposals
Other adjustments
At 31 August 2024
Net book value
At 31 August 2024 497 497

2ND TIME AROUND (LOFTUS) CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Creditors: amounts falling due within one year note

2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 0
Accruals and deferred income 0
Other creditors 7,730
Total 7,730

COMMUNITY INTEREST ANNUAL REPORT

2ND TIME AROUND (LOFTUS) CIC

Company Number: 15103902 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

We operate a 2nd hand shop in the small town of Loftus. Selling clothing, furniture, books, etc. We stock good quality second hand items that we sell for reasonable price. We rely on donations and also items from house clearances. 2nd Time Around has become a small "community hub" including a small cafe offering drinks and refreshments. We have been doing various community events like bingo and workshop classes. Any profits raised go to helping Loftus Martial Arts or they are put back into the community projects we run.

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
1 June 2025

And signed on behalf of the board by:
Name: Carolyn Bateman
Status: Director