Abbreviated Company Accounts - THE NORTHBOURNE PARK FOUNDATION
Abbreviated Company Accounts - THE NORTHBOURNE PARK FOUNDATION
Registered Number 05305196
THE NORTHBOURNE PARK FOUNDATION
Abbreviated Accounts
31 August 2014
THE NORTHBOURNE PARK FOUNDATION Registered Number 05305196
Abbreviated Balance Sheet as at 31 August 2014
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| Tangible assets |
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| Debtors |
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| Investments |
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| Prepayments and accrued income |
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| Creditors: amounts falling due within one year |
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| Net current assets (liabilities) |
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| Total assets less current liabilities |
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| Creditors: amounts falling due after more than one year |
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| Provisions for liabilities |
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| Accruals and deferred income |
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| Total net assets (liabilities) |
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| Reserves | |||
| Revaluation reserve |
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| Other reserves |
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| Income and expenditure account |
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| Members' funds |
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For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
THE NORTHBOURNE PARK FOUNDATION Registered Number 05305196
Notes to the Abbreviated Accounts for the period ended 31 August 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity become unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity, are recognised where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Investment income is included when receivable.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Other accounting policies
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.
Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Resources Expanded
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting constitutional and statutory requirements and include audit fees and other costs linked to the management of the charity.
2Company limited by guarantee