FOOD CIRCLE YORK CIC

Company limited by guarantee

Company Registration Number:
11053160 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

FOOD CIRCLE YORK CIC

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FOOD CIRCLE YORK CIC

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 10,354 14,263
Total fixed assets: 10,354 14,263
Current assets
Stocks: 4 3,400 5,500
Debtors: 5 2,208 4,179
Cash at bank and in hand: 43,487 48,403
Total current assets: 49,095 58,082
Creditors: amounts falling due within one year: 6 ( 9,048 ) ( 31,251 )
Net current assets (liabilities): 40,047 26,831
Total assets less current liabilities: 50,401 41,094
Creditors: amounts falling due after more than one year: 7 ( 3,626 )
Provision for liabilities: ( 1,963 ) ( 2,710 )
Total net assets (liabilities): 48,438 34,758
Members' funds
Profit and loss account: 48,438 34,758
Total members' funds: 48,438 34,758

The notes form part of these financial statements

FOOD CIRCLE YORK CIC

Balance sheet statements

For the year ending 31 October 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 22 July 2025
and signed on behalf of the board by:

Name: Joseph M Fennerty
Status: Director

The notes form part of these financial statements

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 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, excluding discounts and rebates. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant & machinery - 20% Reducing balance basis Motor vehicles - 25% Reducing balance basis

    Other accounting policies

    Pension costs The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due. Deferred taxation Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 27,172 8,000 35,172
Additions 1,999 1,999
Disposals ( 9,500 ) ( 9,500 )
Revaluations
Transfers
At 31 October 2024 19,671 8,000 27,671
Depreciation
At 1 November 2023 16,108 4,801 20,909
Charge for year 1,988 800 2,788
On disposals ( 6,380 ) ( 6,380 )
Other adjustments
At 31 October 2024 11,716 5,601 17,317
Net book value
At 31 October 2024 7,955 2,399 10,354
At 31 October 2023 11,064 3,199 14,263

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Stocks

2024 2023
£ £
Stocks 3,400 5,500
Total 3,400 5,500

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Debtors

2024 2023
£ £
Trade debtors 1,801 2,836
Prepayments and accrued income 407 1,343
Total 2,208 4,179

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 2,000
Trade creditors 3,388 2,600
Taxation and social security 5,055 4,674
Accruals and deferred income 605 490
Other creditors 21,487
Total 9,048 31,251

FOOD CIRCLE YORK CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

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

  2023
  £
Bank loans and overdrafts 3,626
Total   3,626

COMMUNITY INTEREST ANNUAL REPORT

FOOD CIRCLE YORK CIC

Company Number: 11053160 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. The decision was made at the start of the financial year that Joe Fennerty would be leaving the business by October 2024. This has meant that the past 12 months have been a period of transition. Nigel Parker is taking on the role of director. As a producer and long time market volunteer, he is perfectly placed to provide some continuity and leadership. Louise Cantlay has been employed to manage the markets. Though not employed by Food Circle, Louise Diver will be working closely with Louise and Nigel to continue our growing efforts at Howsham Polytunnels. Jim Gilroy has started his own business (Tang of Tang Hall Ltd) which will build upon the work he has done with Food Circle over the past 5 years - an invaluable outlet for local produce and market surplus, celebrating Food Circle values and continuing the community outreach programmes with Tang Hall Community Centre. Despite the changes occurring, the year has proved a real success. Turnover is a record high and can largely be attributed to busier and more consistent markets over the year. As with previous years, the vast majority of expenses is money going directly back into our local food network. We launched a monthly supper club called Tang in April. This was introduced for a number of possible benefits (i) lay foundations for the launch of Jim’s new venture (ii) bring a new market audience to the business (iii) increase revenue on a mid week (iv) to celebrate and showcase local seasonality. These have been an undoubted success. Every one has been fully booked and the evenings have generated a substantial following quickly. The Howsham polytunnels have flourished this year. Supplying quantity and quality over the hungry gap is shown by the consistent market takings over these traditionally quieter months. They have provided enough produce to pay for the labour and costs that have gone into them, which was the ultimate goal of this project. It has been a good year. Building up our customer base. Improving our offerings. Providing support and market routes for our network of producers. And creating the foundations to allow a smooth transition at the end of the year.

Consultation with stakeholders

Significant changes required meant we had a lot of consultation with relevant stakeholders all year. Firstly with Tang Hall Community Centre, as we wanted this to remain the home for Food Circle and Jim’s new business Tang of Tang Hall. Then with producers to see if there was an appetite to keep the markets going even if it had the potential to be a stripped back model. And finally with customers, to start a discussion of possible changes to the market. All three stakeholders wanted Food Circle to continue. And so we have put the personnel in place who can take the business forward.

Directors' remuneration

During the year, a director received a pro-rated remuneration of £18,000 per year. The director was also repaid their interest-free loan amounting to £22,352.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 July 2025

And signed on behalf of the board by:
Name: J M Fennerty
Status: Director