|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 March 2018 |
|
for |
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 March 2018 |
|
for |
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) |
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
|
|
|
|
|
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 |
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) |
|
Company Information |
for the Year Ended 31 March 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Statutory Auditor |
The Point |
Granite Way |
Mountsorrel |
Loughborough |
Leicestershire |
LE12 7TZ |
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Balance Sheet |
31 March 2018 |
|
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
Tangible assets | 6 |
|
|
Investments | 7 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 8 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 9 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 10 |
|
|
NET ASSETS |
|
|
|
RESERVES |
Income and expenditure account |
|
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
|
1. | STATUTORY INFORMATION |
|
Cenex (Centre of Excellence for Low Carbon and Fuel Cell Technologies) is a
|
, registered in England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Significant judgements and estimates |
In the application of the company's accounting policies, which are described in the accounting policies below, |
management is required to make judgements, estimates and assumptions about the carrying values of assets and |
liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on |
historical experience and other factors that are considered to be relevant. Actual results may differ from these |
estimates. |
|
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are |
recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the |
revision and future periods if the revision affects both current and future periods. |
|
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that |
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the |
next financial year, are described below. The Company based its assumptions and estimates on parameters available |
when the financial statements were prepared. Existing circumstances and assumptions about future developments, |
however, may change due to market changes or circumstances arising that are beyond the control of the Company. |
Such changes are reflected in the assumptions when they occur. |
|
During the period there have been no key sources of estimation that have had a significant impact on the carrying |
value of assets and liabilities |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
|
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
3. | ACCOUNTING POLICIES - continued |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
|
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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the |
lease. |
|
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 are credited to the income and expenditure account in the same period as the related expenditure. |
Where government grants are received in advance of expenditure being incurred the income is deferred on the |
balance sheet. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
5. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
|
AMORTISATION |
At 1 April 2017 |
|
Amortisation for year |
|
At 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
At 31 March 2017 |
|
|
6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2017 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
|
( |
) | ( |
) |
At 31 March 2018 |
|
|
|
|
DEPRECIATION |
At 1 April 2017 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
|
|
( |
) | ( |
) |
At 31 March 2018 |
|
|
|
|
NET BOOK VALUE |
At 31 March 2018 |
|
|
|
|
At 31 March 2017 |
|
|
|
|
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
7. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST |
Additions |
|
At 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
|
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other creditors |
|
|
|
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
12. | FINANCIAL COMMITMENTS |
|
The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to |
£40,191 (2017 - £24,511). |
Cenex (Centre of Excellence for Low |
Carbon and Fuel Cell Technologies) (Registered number: 05371158) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
13. | LIMITED BY GUARANTEE |
|
The company is limited by guarantee and therefore has no share capital. |
|
Each member of the company undertakes to contribute such amounts as may be required (not exceeding £1 Sterling) |
to the assets of the company in the event of its being wound-up while he is a member, or within one year after he |
ceases to be a member, and the costs, charges and expenses of the winding-up and for the adjustment of the rights of |
the contributors amongst themselves. |
|
Cenex is a 'not for profit' company limited by guarantee whose Memorandum of Association precludes it from |
distributing in any way any surplus from its activities as a dividend to member companies and restricts any transfer |
of surplus assets on winding up or dissolution to a charity or similar organisation |