REGISTERED NUMBER: IP29327R (England and Wales) Report of the Committee and Unaudited Financial Statements for The Winchelsea Little Shop Association
Contents of the Financial Statements Page Company Information 1 Report of the Committee 2 Profit and Loss Account 3 Balance Sheet 4 Notes to the Financial Statements 5 Report of the Accountant 7 Profit and Loss Account 8
Company Information COMMITTEE: Mrs C Comotto (Chair) B Chishick (Treasurer) D Morris (Secretary) M Terry REGISTERED OFFICE: Firebrand High Street Winchelsea East Sussex TN36 4EA REGISTERED NUMBER: IP29327R (England and Wales) ACCOUNTANT: Robert Thorne FCCA Chartered Certified Accountant The Annex 143-145 Stanwell Road Ashford Middlesex TW15 3QN Page 1
Report of the Committee The Committee present their report with the financial statements of the company for the year ended 31 October 2011. PRINCIPAL ACTIVITY The principal activity of the company in the year under review was that of holding the funds from the sale of the community shop for the future benefit of the community. COMMITTEE The committee members shown below have held office during the whole of the period from 1 November 2010 to the date of this report. Mrs C Comotto - Chair B Chishick - Treasurer D Morris - Secretary M Terry Other changes in committee members holding office are as follows: A Davis - resigned 9 April 2011 A Rumsey - resigned 23 February 2011 J Dunk - resigned 9 April 2011 ON BEHALF OF THE COMMITTEE:... D Morris - Secretary Date:... Page 2
Profit and Loss Account Notes TURNOVER - - Administrative expenses 231 274 OPERATING LOSS 2 (231) (274) Interest receivable and similar income 828 22 PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION 597 (252) Tax on profit/(loss) on ordinary activities 3 122 - PROFIT/(LOSS) FOR THE FINANCIAL YEAR 475 (252) The notes form part of these financial statements Page 3
Balance Sheet 31 October 2011 Notes CURRENT ASSETS Cash at bank 42,675 42,188 CREDITORS Amounts falling due within one year 4 273 261 NET CURRENT ASSETS 42,402 41,927 TOTAL ASSETS LESS CURRENT LIABILITIES 42,402 41,927 CAPITAL AND RESERVES Called up share capital 5 3,350 3,350 Profit and loss account 6 39,052 38,577 SHAREHOLDERS' FUNDS 42,402 41,927 The company is entitled to exemption from audit under Section 4A of the Friendly and Industrial and Provident Societies Act 1968 for the year ended 31 October 2011. The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2011 in accordance with Section 4A of the Friendly and Industrial and Provident Societies Act 1968. The Committee acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with the provisions of the Friendly and Industrial and Provident Societies Act 1968. The financial statements were approved by the Committee on... and were signed on its behalf by:...... Mrs C Comotto - Chair B Chishick - Treasurer... D Morris - Secretary The notes form part of these financial statements Page 4
Notes to the Financial Statements 1. ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. 2. OPERATING LOSS The operating loss is stated after charging: Committee' members remuneration and other benefits etc - - 3. TAXATION Analysis of the tax charge The tax charge on the profit on ordinary activities for the year was as follows: Current tax: UK corporation tax 122 - Tax on profit/(loss) on ordinary activities 122-4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security 123 1 Other creditors 150 260 273 261 5. CALLED UP SHARE CAPITAL Allotted, issued and fully paid: Number: Class: Nominal value: 335 Ordinary shares 10 3,350 3,350 Under the rules of the Association, any shares held are forfeit upon the death of a member and are cancelled. During the year under review no shares have been cancelled and nothing has reverted to the Association (2010 - no shares were cancelled and no shares reverted to the association). Page 5 continued...
Notes to the Financial Statements - continued 6. RESERVES Profit and loss account At 1 November 2010 38,577 Profit for the year 475 At 31 October 2011 39,052 Page 6
Report of the Accountant to the Committee of The Winchelsea Little Shop Association As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2011 set out on pages three to six and you consider that the company is exempt from an audit. In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me. Robert Thorne FCCA Chartered Certified Accountant The Annex 143-145 Stanwell Road Ashford Middlesex TW15 3QN Date:... This page does not form part of the statutory financial statements Page 7
Profit and Loss Account Income - - Other income Deposit account interest 828 22 828 22 Expenditure Sundry expenses 81 124 Accountancy 150 150 231 274 NET PROFIT/(LOSS) 597 (252) This page does not form part of the statutory financial statements Page 8