REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
CENTER FOR COUNTERING DIGITAL HATE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
CENTER FOR COUNTERING DIGITAL HATE LTD |
CENTER FOR COUNTERING DIGITAL HATE LTD (REGISTERED NUMBER: 11633127) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
CENTER FOR COUNTERING DIGITAL HATE LTD |
COMPANY INFORMATION |
for the Year Ended 31 October 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
CENTER FOR COUNTERING DIGITAL HATE LTD (REGISTERED NUMBER: 11633127) |
STATEMENT OF FINANCIAL POSITION |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
MEMBERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 and authorised for issue on |
CENTER FOR COUNTERING DIGITAL HATE LTD (REGISTERED NUMBER: 11633127) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Center for Countering Digital Hate Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 October 2022 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 November 2020. |
For the entity, the transition and first time adoption to FRS 102 Section 1A from FRS 105 has resulted in no retrospective changes in accounting policies compared to those used previously. |
Turnover |
Turnover represents donations and grant received to further the aims of the organisation. |
Tangible fixed assets |
Plant and machinery etc | - |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
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 statement of financial position date. |
CENTER FOR COUNTERING DIGITAL HATE LTD (REGISTERED NUMBER: 11633127) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
Impairment of 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2021 |
Additions |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Other debtors |
CENTER FOR COUNTERING DIGITAL HATE LTD (REGISTERED NUMBER: 11633127) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Included within other debtors are prepayments of £5,827 (2021:£5,827). |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Taxation and social security |
Other creditors |
Included within other creditors are accrued expenses of £102,268 (2021:£8,250). |
7. | UNRESTRICTED AND RESTRICTED FUNDS |
Unrestricted funds |
Restricted funds |
Total |
Total |
2022 | 2021 |
£ | £ | £ | £ |
Income from: |
Donations | 904,952 | 19,500 | 924,452 | 638,499 |
Other trading activates | 4,000 |
Total Income | 904,952 | 19,500 | 924,452 | 638,499 |
Expenditure on: |
Wages | 462,379 | 19,500 | 481,879 | 318,454 |
All other expenditure | 306,713 | 306,713 | 233,369 |
Total Expenditure | 769,092 | 19,500 | 788,592 | 551,823 |
Net income/ (expenditure) for whole year | 135,860 | 135,860 | 86,679 |
Reserves at 31 October 2022 | 320,204 | 320,204 | 184,344 |
The restricted fund is from The Barrow Cadbury Fund of £19,500 (2021: £37,500). |