Company Registration No. 08582169 (England and Wales)
THE COMMON SENSE COLLECTIVE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
PAGES FOR FILING WITH REGISTRAR
THE COMMON SENSE COLLECTIVE LTD
CONTENTS
Page
Accountants' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4
Detailed profit and loss account
THE COMMON SENSE COLLECTIVE LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE COMMON SENSE COLLECTIVE LTD FOR THE YEAR ENDED 30 JUNE 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Common Sense Collective Ltd for the year ended 30 June 2019 which comprise the income and expenditure account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Common Sense Collective Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of The Common Sense Collective Ltd
and state those matters that we have agreed to state to the Board of Directors of The Common Sense Collective Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Common Sense Collective Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that The Common Sense Collective Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and deficit
of The Common Sense Collective Ltd. You consider that The Common Sense Collective Ltd is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Common Sense Collective Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
25 March 2020
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
THE COMMON SENSE COLLECTIVE LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2019
- 2 -
2019
2018
£
£
Turnover
5,312
15,000
Administrative expenses
(15,221)
(25,428)
Operating deficit
(9,909)
(10,428)
Interest receivable and similar income
-
10
Deficit before taxation
(9,909)
(10,418)
Tax on deficit
-
-
Deficit for the financial year
(9,909)
(10,418)
THE COMMON SENSE COLLECTIVE LTD
BALANCE SHEET
AS AT
30 JUNE 2019
30 June 2019
- 3 -
2019
2018
Notes
£
£
£
£
Current assets
Cash at bank and in hand
16,724
10,602
Creditors: amounts falling due within one year
3
(37,051)
(21,020)
Net current liabilities
(20,327)
(10,418)
Reserves
Income and expenditure account
(20,327)
(10,418)
For the financial year ended 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 March 2020 and are signed on its behalf by:
Mr P M H Taylor
Director
Company Registration No. 08582169
THE COMMON SENSE COLLECTIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
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1
Accounting policies
Company information
The Common Sense Collective Ltd is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
New Barn Farm, Bull Lane, Riseley, Reading, Berkshire, RG7 1TA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of donations received in respect of marketing and PR campaigns for policy development.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2018 - 0).
3
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
37,051
21,020
4
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.