Registered number: SC371312 | ||||||||
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FOR THE YEAR ENDED 31 OCTOBER 2020 | ||||||||
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Prepared By: | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
G6, The Granary Business Centre | ||||||||
Coal Road | ||||||||
Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
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Fife Food Network | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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Fife | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by guarantee registered in SC - Scotland, registered number SC371312 | ||||||||
ACCOUNTANTS | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
G6, The Granary Business Centre | ||||||||
Coal Road | ||||||||
Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
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Fife Food Network | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Fife Food Network | ||||||||
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BALANCE SHEET AT
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2020 | 2019 | |||||||||
Notes | £ | £ | ||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 |
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Cash at bank and in hand |
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28,417 | 29,114 | |||||||||
CREDITORS: Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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14,627 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES | ||||||||||
Profit and loss account | 13,809 | 14,627 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Fife Food Network | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | ||||||||||
1. ACCOUNTING POLICIES |
1a. General Information And Basis Of Preparation | ||||||||
The company is limited by guarantee and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. | ||||||||
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard. | ||||||||
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown. |
1b. Taxation | ||||||||
The tax charge for the year reflects current tax payable. Current tax is the expected Corporation Tax payable for the year, using tax rates in force for the year. Fife Food Network is not liable to Corporation Tax on its activities with members. Corporation Tax is payable on investment income. |
1c. Recognition Of Income | ||||||||
Membership fees are recognised when received. Donations are included in the financial statements in the period in which they are received. Grants are included in the financial statements in the period to which they relate. |
1d. Debtors And Creditor Receivable Payable Within One Year | ||||||||
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
2. EMPLOYEES | ||||||
2020 | 2019 | |||||
No. | No. | |||||
Average number of employees |
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- | ||||
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Fife Food Network | ||||||||
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3. DEBTORS | 2020 | 2019 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | - | 600 | ||||||
Other debtors | 1,028 | 4,257 | ||||||
1,028 | 4,857 | |||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2020 | 2019 | |||||||
£ | £ | |||||||
Trade creditors | 1,948 | 4,372 | ||||||
Other creditors | 12,660 | 10,115 | ||||||
14,608 | 14,487 | |||||||
5. CONTROLLING PARTY | ||||||||
As the company is limited by guarantee, the directors consider that there is no single ultimate controlling party. | ||||||||