| Oil Recycling Association |
| Registered number: |
03524899 |
| Abbreviated Balance Sheet |
| as at 31 July 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Current assets |
| Debtors |
|
|
3,767 |
|
|
2,559 |
| Cash at bank and in hand |
|
|
88,397 |
|
|
98,478 |
|
|
|
92,164 |
|
|
101,037 |
|
| Creditors: amounts falling due within one year |
|
|
(4,200) |
|
|
(5,231) |
|
| Net current assets |
|
|
|
87,964 |
|
|
95,806 |
|
| Net assets |
|
|
|
87,964 |
|
|
95,806 |
|
|
|
|
|
|
|
|
| Capital and reserves |
2 |
| Profit and loss account |
|
|
|
87,964 |
|
|
95,806 |
|
| Shareholders' funds |
|
|
|
87,964 |
|
|
95,806 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| S. Hegerty |
| Director |
| Approved by the board on 1 September 2015 |
|
| Oil Recycling Association |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the value, net of discounts, of members' subscriptions received net of VAT and work carried out in respect of services provided to customers. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Private company limited by guarantee and not having a share capital |
|
|
The liability of the members is limited |
|
Every member of the Association undertakes to contribute: |
|
i To its assets, in the event of it being wound up while he is a member or within one year after |
|
he ceases to be a member |
|
ii for payment of the debts and liabilities of the Association, contracted before he ceased to be |
|
a member, and the costs, charges and expenses of winding up; and |
|
iii for the adjustment of the rights of the contributories among themselves; such amounts as may |
|
be required not exceeding £1. |
