Company registration number 05636575 (England and Wales)
BRIGHTON AND HOVE FOOD PARTNERSHIP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BRIGHTON AND HOVE FOOD PARTNERSHIP
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
BRIGHTON AND HOVE FOOD PARTNERSHIP
COMPANY INFORMATION
- 1 -
Directors
V Williams
S Salts
O Sykes
B Hurwood
G Burrows
J Diaper
F Hamilton
(Appointed 19 October 2022)
N Keane
(Appointed 19 October 2022)
J Woodward
(Appointed 19 October 2022)
Secretary
V Borrill
Company number
05636575
Registered office
Community Base
113 Queens Road
Brighton
East Sussex
BN1 3XG
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BRIGHTON AND HOVE FOOD PARTNERSHIP
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,402
12,904
Current assets
Debtors
5
96,468
58,712
Cash at bank and in hand
141,240
309,730
237,708
368,442
Creditors: amounts falling due within one year
6
(183,401)
(314,286)
Net current assets
54,307
54,156
Total assets less current liabilities
74,709
67,060
Reserves
Income and expenditure account
7
74,709
67,060
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 March 2023 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.
The 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 7 November 2023 and are signed on its behalf by:
V Williams
Director
Company Registration No. 05636575
The notes on pages 3 to 7 form part of these financial statements
BRIGHTON AND HOVE FOOD PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Brighton and Hove Food Partnership is a private company limited by guarantee incorporated in England and Wales. The registered office is Community Base, 113 Queens Road, Brighton, East Sussex, BN1 3XG.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Income takes the form of grants to provide specific or towards general support of our costs, or payment in the form of a contract for services provided, Where grants and similar income are for time based projects, or have been paid in advance in any way, the appropriate amount of income has been carried forward within the deferred income account. Income will be credited to the income and expenditure account from the deferred income account in line with the associated relevant costs, or on a time basis, as is most appropriate.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Straight line
Computers
33% Straight line
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
BRIGHTON AND HOVE FOOD PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is not recognised on the basis of it being considered immaterial to the accounts.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.9
Funds
The company has various types of funds for which it is responsible:
Unrestricted funds - these funds are for use on the general objectives of the company
Restricted funds - these funds are for the specific purposes as laid down by the donor - expenditure which meets these criteria is charged to the fund together with a fair proportion of management and support costs.
BRIGHTON AND HOVE FOOD PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
27
22
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2022
65,615
20,982
86,597
Additions
12,823
1,083
13,906
At 31 March 2023
78,438
22,065
100,503
Depreciation and impairment
At 1 April 2022
57,862
15,831
73,693
Depreciation charged in the year
5,320
1,088
6,408
At 31 March 2023
63,182
16,919
80,101
Carrying amount
At 31 March 2023
15,256
5,146
20,402
At 31 March 2022
7,753
5,151
12,904
BRIGHTON AND HOVE FOOD PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
44,849
33,467
Other debtors
51,619
25,245
96,468
58,712
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
17,613
53,767
Taxation and social security
12
6,060
Other creditors
165,776
254,459
183,401
314,286
BRIGHTON AND HOVE FOOD PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
7
Core activities / Unrestricted reserves
Balance
Balance
01.04.22
Incoming
Outgoing
31.03.23
£
£
£
£
Programmes:
Community Cookery & Food Education
746
153,358
(152,324)
1,780
(including schools & Ready Healthy Eat)
Community Kitchen
7,860
100,015
(102,972)
4,903
Community Food Projects - network,
717
128,012
(125,413)
3,316
training and support
Community & Therapeutic Gardening
(1,408)
197,897
(197,577)
(1,088)
Outdoor Food & Activity Hubs
-
8,705
(9,789)
(1,084)
(Stanmer and Waterhall)
Strategic (food strategy, research & shared
177
98,324
(97,138)
1,363
learning)
Food Use Places (food waste reduction)
(149)
137,933
(140,088)
(2,304)
and Composting
Emergency Food Provision
-
192,146
(191,624)
522
7,943
1,016,390
(1,016,925)
7,408
Core Activities
59,117
44,485
(36,301)
67,301
67,060
1,060,875
(1,053,226)
74,709
8
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.