Keswick Community Asset Company 31/03/2025 iXBRL

Company registration number: 09792655

Keswick Community Asset Company

Trading as Keswick Community Asset Company

Company limited by guarantee

Unaudited filleted financial statements

31 March 2025

Keswick Community Asset Company

Company limited by guarantee

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Keswick Community Asset Company

Company limited by guarantee

Directors and other information


	Directors	Mr Anthony J G Lywood
		Ms Jean Murray
		Mr Adam Gerard Paxon
		Mr David Stanley Burn
		Mr Paul Charlton Titley
		Mr Allan Donald Daniels
		Mrs Deborah Anne Edginton


	Company number	09792655


	Registered office	Appleside
		4 Leonard Street
		Keswick
		Cumbria
		CA12 4EJ


	Business address	c/o 4 Leonard Street
		Keswick
		Cumbria
		CA12 4EJ


	Accountant	Keswick Accountants
		Appleside
		4 Leonard Street
		Keswick
		Cumbria
		CA12 4EJ

Keswick Community Asset Company

Company limited by guarantee

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Current assets
Debtors	5	3,697		8,364
Cash at bank and in hand		44,254		31,584
		______		______
		47,951		39,948
Creditors: amounts falling due
within one year	6	( 1,000)		( 1,000)
		______		______
Net current assets			46,951		38,948
			______		______
Total assets less current liabilities			46,951		38,948

			______		______
Net assets			46,951		38,948
			______		______

Capital and reserves
Profit and loss account			46,951		38,948
			______		______
Members funds			46,951		38,948
			______		______

For the year 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:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- 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 03 September 2025 , and are signed on behalf of the board by:

Mr Anthony J G Lywood

Director

Company registration number: 09792655

Keswick Community Asset Company

Company limited by guarantee

Statement of changes in equity

Year ended 31 March 2025

	Profit and loss account	Total
	£	£


At 1 April 2023	31,934	31,934

Profit for the year	7,014	7,014
	______	______
Total comprehensive income for the year	7,014	7,014

	______	______
At 31 March 2024 and 1 April 2024	38,948	38,948

Profit for the year	8,003	8,003
	______	______
Total comprehensive income for the year	8,003	8,003

	______	______
At 31 March 2025	46,951	46,951
	______	______

Keswick Community Asset Company

Company limited by guarantee

Notes to the financial statements

Year 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 Appleside, 4 Leonard Street, Keswick, Cumbria, CA12 4EJ.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The liability of members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of the organisation being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of debts and liabilities of the company contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors themselves, such amount as may be required, but not exceeding £1

5. Debtors

	2025	2024
	£	£
Trade debtors	3,697	8,364
	______	______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	1,000	1,000
	______	______