ELECTRIC CORBY CIC

Company limited by guarantee

Company Registration Number:
08073299 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2025

Period of accounts

Start date: 1 April 2024

End date: 31 March 2025

ELECTRIC CORBY CIC

Contents of the Financial Statements

for the Period Ended 31 March 2025

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ELECTRIC CORBY CIC

Balance sheet

As at 31 March 2025

Notes 2025 2024


£

£
Fixed assets
Tangible assets: 3 2,608 2,891
Investments: 4 1,191 1
Total fixed assets: 3,799 2,892
Current assets
Debtors: 5 10,385 77,588
Cash at bank and in hand: 197,468 17,561
Total current assets: 207,853 95,149
Creditors: amounts falling due within one year: 6 ( 79,236 ) ( 111,318 )
Net current assets (liabilities): 128,617 (16,169)
Total assets less current liabilities: 132,416 ( 13,277)
Creditors: amounts falling due after more than one year: 7 ( 297,647 ) ( 267,418 )
Total net assets (liabilities): (165,231) (280,695)
Members' funds
Profit and loss account: (165,231) ( 280,695)
Total members' funds: ( 165,231) (280,695)

The notes form part of these financial statements

ELECTRIC CORBY CIC

Balance sheet statements

For the year ending 31 March 2025 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 28 August 2025
and signed on behalf of the board by:

Name: Mr K Routledge
Status: Director

The notes form part of these financial statements

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 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

    Grant Income is recognised in the year to which the grant relates, as specified by the funder, subject to the criteria of certainty, entitlement and measurement being met and achievement of specified milestones. Income relating to future years is deferred.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Plant and Equipment 20% reducing balance basis Computers 33% straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 6 7

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2024 19,520 2,787 22,307
Additions 451 451
Disposals
Revaluations
Transfers
At 31 March 2025 19,520 3,238 22,758
Depreciation
At 1 April 2024 16,725 2,691 19,416
Charge for year 585 149 734
On disposals
Other adjustments
At 31 March 2025 17,310 2,840 20,150
Net book value
At 31 March 2025 2,210 398 2,608
At 31 March 2024 2,795 96 2,891

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Fixed assets investments note

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

5. Debtors

2025 2024
£ £
Trade debtors 3,072 16,992
Other debtors 7,313 60,596
Total 10,385 77,588

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

6. Creditors: amounts falling due within one year note

2025 2024
£ £
Trade creditors 28,322 61,742
Taxation and social security 39,500 7,748
Other creditors 11,414 41,828
Total 79,236 111,318

ELECTRIC CORBY CIC

Notes to the Financial Statements

for the Period Ended 31 March 2025

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

2025 2024
£ £
Bank loans and overdrafts 32,695 38,988
Other creditors 264,952 228,430
Total 297,647 267,418

COMMUNITY INTEREST ANNUAL REPORT

ELECTRIC CORBY CIC

Company Number: 08073299 (England and Wales)

Year Ending: 31 March 2025

Company activities and impact

Electric Corby was established by Corby Borough Council, CENEX and the private sector, as a Community Interest Company, to attract world leaders in clean technology to Corby, by becoming the UK's practical, community scale test centre for energy efficient living and low carbon vehicles. Aiming to generate new employment opportunities with low carbon, low energy focus to match the high level of population growth in the area, Electric Corby CIC will help the town become one of the most environmentally and economically sustainable areas in the UK. The CIC has been the catalyst for the development of 47 Net Zero Carbon Homes, and has attracted EU Research and Development funded projects (ReCognition and FlexUnity) to develop renewable energy systems and flexible grid solutions to benefit business growth. The CIC has also directly supported Corby residents with assistance to switch energy suppliers and make home improvements, to reduce fuel poverty.

Consultation with stakeholders

The ultimate beneficiaries of the Community Interest Company are the Corby community and it's key stakeholders, which also includes the Corby private sector. It is a true public private partnership. To ensure stakeholders and beneficiaries are constantly consulted, the board comprises of local councillors who represent the Corby community, key stakeholders who formed the company, Corby Borough Council and CENEX in addition to the private sector.

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
28 August 2025

And signed on behalf of the board by:
Name: Mr K Routledge
Status: Director