|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2018 |
|
FOR |
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2018 |
|
FOR |
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD |
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD (REGISTERED NUMBER: 04612141) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
AUDITORS: |
|
Statutory Auditor |
Fernwood House |
Fernwood Road |
Jesmond |
Newcastle upon Tyne |
Tyne and Wear |
NE2 1TJ |
|
|
BANKERS: |
|
PO Box 45 |
45 Fawcett Street |
Sunderland |
Tyne and Wear |
SR1 1SE |
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD (REGISTERED NUMBER: 04612141) |
|
BALANCE SHEET |
31 MARCH 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
RESERVES |
Income and expenditure account |
|
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors on
its behalf by: |
|
|
|
|
|
|
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD (REGISTERED NUMBER: 04612141) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
1. | STATUTORY INFORMATION |
|
The North East of England Process Industry Cluster Ltd is a
|
registered in England and Wales. The company's registered number and registered office address can |
be found on the Company Information page. |
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The preparation of the financial statements requires management to make estimates and assumptions |
that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of |
contingent liabilities at the date of the financial statements. If, in the future, such estimates and |
assumptions, which are based on management's best judgement at the date of the financial |
statements, deviate from the actual circumstances, the original estimates and judgements will be |
modified as appropriate in the year in which the circumstances change. |
|
The financial statements are presented in Sterling (£) and rounded to the nearest £1. |
|
The company has applied the following accounting policies: |
|
Turnover |
Income is recognised on an accruals basis over the life of the projects undertaken by the company, |
together with grants receivable from various sources. Income from membership fees is recognised |
over the period of the membership. Turnover in respect of events is recognised when the event |
occurs. |
|
Tangible fixed assets |
|
Office equipment | - |
|
Fixtures and fittings | - |
|
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
Account, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD (REGISTERED NUMBER: 04612141) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
|
Government grants |
Government grants in respect of capital expenditure are treated as deferred credits, a proportion of |
which is transferred to revenue annually over the life of the asset. Government grants in respect of |
revenue expenditure are credited to the profit and loss account in the year in which they are receivable |
in order to match the income against the corresponding expenditure to which the grant relates. |
|
Short term debtors and creditors |
Debtors and creditors with no interest rate which are receivable or payable within one year are |
recorded at transaction price. Any loss arising from impairment are recognised immediately in profit |
and loss. |
|
Cash and cash equivalents |
Cash and cash equivalents comprises cash in hand and current balances with banks and other |
institutions, which are readily convertible to known amounts of cash and which are subject to |
insignificant risk of change in value. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
THE NORTH EAST OF ENGLAND PROCESS |
INDUSTRY CLUSTER LTD (REGISTERED NUMBER: 04612141) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2017 |
|
Additions |
|
At 31 March 2018 |
|
DEPRECIATION |
At 1 April 2017 |
|
Charge for year |
|
At 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
At 31 March 2017 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Deferred tax asset |
|
|
Prepayments and accrued income |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Payments on account |
|
|
Trade creditors |
|
|
Social security and other taxes |
|
|
Amounts owed to related |
parties |
|
|
Accruals and deferred income |
|
|
|
|
|
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
9. | COMPANY LIMITED BY GUARANTEE |
|
The company is limited by guarantee in that every member of the company undertakes to contribute |
such amount not exceeding £1 in the event of the company being wound up whilst they are members. |