Abbreviated Company Accounts - USK RURAL LIFE MUSEUM

USK RURAL LIFE MUSEUM - Company Information

Registered Number 06727091

USK RURAL LIFE MUSEUM

Abbreviated Accounts

31 December 2014

USK RURAL LIFE MUSEUM Registered Number 06727091

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	131,334	38,085
		131,334	38,085
Current assets
Stocks		632	637
Debtors		10,999	-
Cash at bank and in hand		21,801	44,457
		33,432	45,094
Creditors: amounts falling due within one year		(4,525)	(1,147)
Net current assets (liabilities)		28,907	43,947
Total assets less current liabilities		160,241	82,032
Creditors: amounts falling due after more than one year		(67,790)	0
Total net assets (liabilities)		92,451	82,032
Reserves
Other reserves		59,313	34,030
Income and expenditure account		33,138	48,002
Members' funds		92,451	82,032

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 27 May 2015

And signed on their behalf by:
P K Munson, Director
R C Edwards, Director

USK RURAL LIFE MUSEUM Registered Number 06727091

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
All incoming resources are recognised on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life;
Freehold Property - not depreciated

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value after making allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

3Tangible fixed assets

	£
Cost
At 1 January 2014	38,085
Additions	93,249
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	131,334
Depreciation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	131,334
At 31 December 2013	38,085