Abbreviated Company Accounts - THE HABERDASHERS' MILLENNIUM TREASURES TRUST

THE HABERDASHERS' MILLENNIUM TREASURES TRUST - Company Information

Registered Number 03237369

THE HABERDASHERS' MILLENNIUM TREASURES TRUST

Abbreviated Accounts

31 March 2015

THE HABERDASHERS' MILLENNIUM TREASURES TRUST Registered Number 03237369

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	3	573,753	573,903
		573,753	573,903
Current assets
Stocks		10,902	11,055
Debtors		31,198	57,899
Cash at bank and in hand		39,468	114,547
		81,568	183,501
Net current assets (liabilities)		81,568	183,501
Total assets less current liabilities		655,321	757,404
Creditors: amounts falling due after more than one year		0	(100,913)
Total net assets (liabilities)		655,321	656,491
Reserves
Other reserves		655,321	656,491
Members' funds		655,321	656,491

For the year ending 31 March 2015 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 7 July 2015

And signed on their behalf by:
AW Twiston-Davies, Director

THE HABERDASHERS' MILLENNIUM TREASURES TRUST Registered Number 03237369

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities”, revised in 2005 (SORP 2005) and applicable accounting standards. The particular accounting policies adopted by the trustees are described below.

Turnover policy
All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable.
Gifts in kind are shown in the Statement of Financial Activities at the Council’s best estimate of value on acquisition.

Tangible assets depreciation policy
Treasures (tangible fixed assets in the form of works of art, documents and artefacts which the Trust intends to retain indefinitely) are capitalised at cost and are not depreciated because they have indefinite useful lives and high residual values. The Council conducts an annual impairment review.
Display cabinets are depreciated at the rate of 10% per annum on a straight line basis

Valuation information and policy
Investments are stated at market value. Realised and unrealised gains and losses are shown separately in the appropriate section of the statement of financial activities.

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

3Tangible fixed assets

	£
Cost
At 1 April 2014	590,569
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	590,569
Depreciation
At 1 April 2014	16,666
Charge for the year	150
On disposals	-
At 31 March 2015	16,816
Net book values
At 31 March 2015	573,753
At 31 March 2014	573,903

Treasures, including silverware, works of art and historical documents acquired in pursuit of the object of the charity