for the Period Ended 31 October 2024
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
As at
| Notes | 2024 | 2023 | |
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£ |
£ |
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| Fixed assets | |||
| Tangible assets: | 3 |
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| Total fixed assets: |
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| Current assets | |||
| Stocks: | 4 |
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| Debtors: | 5 |
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| Cash at bank and in hand: |
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| Total current assets: |
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| Creditors: amounts falling due within one year: | 6 |
(
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(
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: | 7 |
(
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| Provision for liabilities: |
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(
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| Total net assets (liabilities): |
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| Members' funds | |||
| Profit and loss account: |
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| Total members' funds: |
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The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 October 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 October 2024
| 2024 | 2023 | |
|---|---|---|
| Average number of employees during the period |
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for the Period Ended 31 October 2024
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
|---|---|---|---|---|---|---|
| Cost | £ | £ | £ | £ | £ | £ |
| At 1 November 2023 |
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| Additions |
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| Disposals |
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| Revaluations | ||||||
| Transfers | ||||||
| At 31 October 2024 |
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| Depreciation | ||||||
| At 1 November 2023 |
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| Charge for year |
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| On disposals |
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| Other adjustments | ||||||
| At 31 October 2024 |
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| Net book value | ||||||
| At 31 October 2024 |
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| At 31 October 2023 |
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for the Period Ended 31 October 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Stocks |
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| Total |
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for the Period Ended 31 October 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors |
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| Prepayments and accrued income |
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| Total |
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for the Period Ended 31 October 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Accruals and deferred income |
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| Other creditors |
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| Total |
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for the Period Ended 31 October 2024
| 2023 | ||
|---|---|---|
| £ | ||
| Bank loans and overdrafts |
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| Total |
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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.
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.
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.
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