Abbreviated Company Accounts - DARTMOOR GLIDING SOCIETY

Abbreviated Company Accounts - DARTMOOR GLIDING SOCIETY

DARTMOOR GLIDING SOCIETY - Company Information

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Registered Number 03592292

DARTMOOR GLIDING SOCIETY

Abbreviated Accounts

31 December 2014

DARTMOOR GLIDING SOCIETY Registered Number 03592292

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 3 39,283 24,373
39,283 24,373
Current assets
Stocks 955 955
Debtors 3,255 5,238
Cash at bank and in hand 4,691 12,203
8,901 18,396
Creditors: amounts falling due within one year (6,751) (6,133)
Net current assets (liabilities) 2,150 12,263
Total assets less current liabilities 41,433 36,636
Total net assets (liabilities) 41,433 36,636
Reserves
Revaluation reserve 8,700 -
Other reserves 36,636 36,497
Income and expenditure account (3,903) 139
Members' funds 41,433 36,636
  • For the year ending 31 December 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 24 April 2015

And signed on their behalf by:
Martin Cropper, Director
Stephen Raine, Director

DARTMOOR GLIDING SOCIETY Registered Number 03592292

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable from members in respect of membership fees, flights and launches.

Tangible assets depreciation policy
Tangible assets are depreciated by reducing annual instalments over their estimated useful lives at the following rates:
Buildings - 5%
Gliders and trailers - 10%
Plant and machinery - 10%

Other accounting policies
Stock is valued at the lower of cost and net realisable value. Cost represents direct costs plus attributable overheads incurred to date.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 January 2014 53,802
Additions 12,215
Disposals (3,000)
Revaluations 8,700
Transfers -
At 31 December 2014 71,717
Depreciation
At 1 January 2014 29,429
Charge for the year 3,305
On disposals (300)
At 31 December 2014 32,434
Net book values
At 31 December 2014 39,283
At 31 December 2013 24,373