Hackspaces and profit

I did a search but couldn’t find any discussion on how Hackspaces file their accounts with Companies House. I am interested in how to lose any profit, but keep it for a rainy day or new equipment. We are a private company limited by guarantee and file annual accounts. Making a small profit per month unless any expensive items are bought. My accountant tells me that you can’t just leave money in the bank for a rainy day as it will get taxed. Do other Hackspaces put any ‘profits’ into a ring-fenced fund for an expensive item, or do you just pay the government 19% tax, or whatever the current rate is.

Tony
Leicester Hackspace

“Profits” made from donations, membership subscriptions, and sales to members are not subject to corporation tax. For more info, see this previous post.

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