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COMPANY REGISTRATION NUMBER: 03898593

KETTERING COMMUNITY BUSINESS CENTRE DEVELOPMENT TRUST

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

KETTERING COMMUNITY BUSINESS CENTRE DEVELOPMENT TRUST

STATEMENT OF FINANCIAL POSITION

31 December 2024

| 2024 | 2023
Note | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 5 |  | 1,049,999 |  | 1,051,487

CURRENT ASSETS

Debtors | 6 | 17,741 |  | 20,226 |
Cash at bank and in hand | 239,380 |  | 184,701 |
| --------- |  | --------- |
| 257,121 |  | 204,927 |

CREDITORS: amounts falling due within one year | 7 | 41,241 |  | 34,584 |
| --------- |  | --------- |
NET CURRENT ASSETS |  | 215,880 |  | 170,343
|  | ------------ |  | ------------
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 1,265,879 |  | 1,221,830

PROVISIONS |  | 100,003 |  | 100,188
|  | ------------ |  | ------------
NET ASSETS |  | 1,165,876 |  | 1,121,642
|  | ------------ |  | ------------

CAPITAL AND RESERVES

Non distributable reserve |  | 425,249 |  | 425,249
Profit and loss account |  | 740,627 |  | 696,393
|  | ------------ |  | ------------
SHAREHOLDERS FUNDS |  | 1,165,876 |  | 1,121,642
|  | ------------ |  | ------------

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 income and retained earnings has not been delivered.
For the year ending 31 December 2024 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 .

KETTERING COMMUNITY BUSINESS CENTRE DEVELOPMENT TRUST

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

Mr M Toms
Director

Company registration number: 03898593

KETTERING COMMUNITY BUSINESS CENTRE DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Business Exchange, Rockingham Road, Kettering, Northamptonshire, NN16 8JX.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 30% straight line
| Fixtures and fittings | - | 20% straight line

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS

| Plant and machinery | Fixtures and fittings | Investment property | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 January 2024 and 31 December 2024 | 70,198 | 66,057 | 1,048,984 | 1,185,239
| -------- | -------- | ------------ | ------------
Depreciation |  |  |  |
At 1 January 2024 | 68,374 | 65,378 | – | 133,752
Charge for the year | 1,276 | 212 | – | 1,488
| -------- | -------- | ------------ | ------------
At 31 December 2024 | 69,650 | 65,590 | – | 135,240
| -------- | -------- | ------------ | ------------
Carrying amount |  |  |  |
At 31 December 2024 | 548 | 467 | 1,048,984 | 1,049,999
| -------- | -------- | ------------ | ------------
At 31 December 2023 | 1,824 | 679 | 1,048,984 | 1,051,487
| -------- | -------- | ------------ | ------------

If the investment properties had not been revalued they would have been included at the following historical cost:

|  | 2024 | 2023
|  | £ | £
| Cost | 523,985 | 523,985

The properties were valued by the directors on an open market basis on 31 December 2024.
6. DEBTORS

| 2024 | 2023
| £ | £
Trade debtors | 4,574 | 5,740
Other debtors | 13,167 | 14,486
| -------- | --------
| 17,741 | 20,226
| -------- | --------

7. CREDITORS: amounts falling due within one year

| 2024 | 2023
| £ | £
Trade creditors | 3,500 | 857
Corporation tax | 11,330 | 8,072
Social security and other taxes | 2,395 | 2,428
Other creditors | 24,016 | 23,227
| -------- | --------
| 41,241 | 34,584
| -------- | --------