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.

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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