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No description of principal activity
2021-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
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02388396
2021-01-01
2021-12-31
02388396
2021-12-31
02388396
2020-12-31
02388396
2020-01-01
2020-12-31
02388396
2020-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2020-12-31
02388396
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2021-12-31
02388396
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2021-12-31
02388396
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2020-12-31
02388396
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2021-12-31
02388396
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2020-12-31
02388396
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2021-12-31
02388396
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2020-12-31
02388396
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2020-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2021-01-01
2021-12-31
02388396
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2020-12-31
02388396
core:ComputerEquipment
2021-12-31
COMPANY REGISTRATION NUMBER:
02388396
THE CONSTRUCTION INDUSTRY COUNCIL LTD
|
|
Company Limited by Guarantee
|
|
FILLETED FINANCIAL STATEMENTS
|
|
THE CONSTRUCTION INDUSTRY COUNCIL LTD
|
|
COMPANY LIMITED BY GUARANTEE
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 December 2021
Fixed assets
Tangible assets
|
6
|
1,704
|
1,985
|
|
|
|
|
Current assets
Stocks
|
2,224
|
3,207
|
Debtors
|
8
|
63,158
|
80,136
|
Cash at bank and in hand
|
106,289
|
95,865
|
|
----------
|
----------
|
|
171,671
|
179,208
|
|
|
|
|
Creditors: amounts falling due within one year
|
9
|
231,389
|
268,656
|
|
----------
|
----------
|
Net current liabilities
|
59,718
|
89,448
|
|
---------
|
---------
|
Total assets less current liabilities
|
(
58,014)
|
(
87,463)
|
|
---------
|
---------
|
Net liabilities
|
(
58,014)
|
(
87,463)
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Profit and loss account
|
(
58,014)
|
(
87,463)
|
|
---------
|
---------
|
Members deficit
|
(
58,014)
|
(
87,463)
|
|
---------
|
---------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
13 July 2022
, and are signed on behalf of the board by:
Mr J A Sullivan - Chair
|
Mr G C Watts OBE
|
Director
|
Director
|
|
|
Company registration number:
02388396
THE CONSTRUCTION INDUSTRY COUNCIL LTD
|
|
COMPANY LIMITED BY GUARANTEE
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 DECEMBER 2021
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Building Centre, 26 Store Street, London, WC1E 7BT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The recent introduction of the Building Safety Act 2022, introduces significant changes to the regulatory regime for the building control profession and until secondary legislation is passed there is uncertainty around the company's subdidiary, CICAIR's, ongoing future as the body designated to deliver Approved Inspector regulation. However the group has sufficient reserves to provide for closedown and delivery of ongoing work for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
All fixed assets are initially recorded at cost. All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & Fittings
|
-
|
15% straight line
|
|
Equipment
|
-
|
33% straight line
|
|
|
|
|
Impairment of fixed 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Company limited by guarantee
The liability of each member in respect of the undertaking is to contribute to the assets of the company is limited to an amount not exceeding £1.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2020:
11
).
The Construction Industry Council employed 4 (2020:4) people during the year who worked on CICAIR Ltd activities. The Construction Industry Council employed 1 (2020:1) person during the year who worked on Constructionarium Ltd activities.
6.
Tangible assets
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 January 2021
|
18,791
|
36,376
|
55,167
|
Additions
|
–
|
1,247
|
1,247
|
|
---------
|
---------
|
---------
|
At 31 December 2021
|
18,791
|
37,623
|
56,414
|
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
At 1 January 2021
|
17,263
|
35,919
|
53,182
|
Charge for the year
|
369
|
1,159
|
1,528
|
|
---------
|
---------
|
---------
|
At 31 December 2021
|
17,632
|
37,078
|
54,710
|
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
At 31 December 2021
|
1,159
|
545
|
1,704
|
|
---------
|
---------
|
---------
|
At 31 December 2020
|
1,528
|
457
|
1,985
|
|
---------
|
---------
|
---------
|
|
|
|
|
7.
Subsidiaries, associates and other investments
Details of the investments in which the parent company has an interest of 20% or more are as follows:
CICAIR Ltd, a company limited by guarantee, registered office The Building Centre, 26 Store Street, London WC1E 7BT. The Construction Industry Council is the sole member.
Construction Umbrella Bodies (Holdings) Ltd, a company limited by guarantee, registered office The Building Centre, 26 Store Street, London WC1E 7BT. The Construction Industry Council is one of the two members of this company.
Constructionarium Ltd, a company limited by guarantee, registered office The Building Centre, 26 Store Street, London WC1E 7BT. The Construction Industry Council is one of two members.
8.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
45,654
|
58,844
|
Other debtors
|
17,504
|
21,292
|
|
---------
|
---------
|
|
63,158
|
80,136
|
|
---------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Trade creditors
|
52,168
|
70,396
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
57,091
|
96,057
|
Corporation tax
|
6,886
|
–
|
Social security and other taxes
|
32,041
|
22,610
|
Other creditors
|
83,203
|
79,593
|
|
----------
|
----------
|
|
231,389
|
268,656
|
|
----------
|
----------
|
|
|
|
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2021
|
2020
|
|
£
|
£
|
Not later than 1 year
|
3,152
|
3,152
|
Later than 1 year and not later than 5 years
|
3,666
|
6,818
|
|
-------
|
-------
|
|
6,818
|
9,970
|
|
-------
|
-------
|
|
|
|
11.
Summary audit opinion
The auditor's report for the year dated 13 July 2022 was unqualified.
The senior statutory auditor was
Charles Homan
, for and on behalf of
UHY Hacker Young (S.E.) Limited
.
12.
Related party transactions
The Construction Industry Council received £346,267 (2020: £376,961) in annual subscription fees from the Council Members listed on page 3 to the accounts. These transactions were conducted on an arms length basis and any amounts outstanding at the year end are cleared in the normal course of business. The Construction Industry Council received £45,000 (2020: £45,081) in fee payments from the Considerate Constructors Scheme Limited (CCS Ltd), via its parent company, Construction Umbrella Bodies (Holdings) Ltd, which is partly owned by the Construction Industry Council, for services rendered by Construction Industry Council staff in 2021 to assist the governance and strategic development of the CCS Ltd in the year. CICAIR Ltd, a company limited by guarantee is a wholly owned subsidiary of The Construction Industry Council. CICAIR Ltd pays a management charge to The Construction Industry Council in respect of services, personnel and office space utilised by CICAIR Ltd, in accordance with the service agreement signed in 2019 and this is deemed to be a reasonable allocation of costs. During the year CICAIR paid a service charge of £96,000 (2020:£96,000). CICAIR Ltd pay half of their net surplus for the year to The Construction Industry Council as agreed. The amount due for the year was £38,966 (2020:NIL). These accounts show an amount owing to CICAIR Ltd from The Construction Industry Council, the amount owed was £57,091(2020:£96,057)however once payment of the 2021 surplus is received this will revert back to £96,057 As of January 2019 CIC became one of the two members of Constructionarium Ltd, a company limited by guarantee. During the year The Construction Industry Council received £107,332 (2020:£118,240) from Constructionarium Ltd to reimburse administration and salary arrangements and costs.