Abbreviated Company Accounts - INTERNATIONAL VOLUNTARY SERVICE

INTERNATIONAL VOLUNTARY SERVICE - Company Information

Registered Number 01354951

INTERNATIONAL VOLUNTARY SERVICE

Abbreviated Accounts

31 December 2014

INTERNATIONAL VOLUNTARY SERVICE Registered Number 01354951

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	773	1
Investments	4	208,300	198,802
		209,073	198,803
Current assets
Debtors	5	6,375	-
Cash at bank and in hand		51,816	150,625
		58,191	150,625
Prepayments and accrued income		676	226
Creditors: amounts falling due within one year		(13,777)	(15,737)
Net current assets (liabilities)		45,090	135,114
Total assets less current liabilities		254,163	333,917
Total net assets (liabilities)		254,163	333,917
Reserves
Other reserves		254,163	333,917
Members' funds		254,163	333,917

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 25 April 2015

And signed on their behalf by:
Richard Williams, Director

INTERNATIONAL VOLUNTARY SERVICE Registered Number 01354951

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and where appropriate modified to include the revaluation of certain fixed assets and in accordance of the Financial Reporting Standards for Smaller Entities (April 2008) and the Statement of Recommended Practice Accounting and Reporting by Charities, issued in March 2005 (SORP 2005).

Turnover policy
Incoming Resources
Income from grants is recognised in the period to which the grant relates. Any annual grants received in advance are included as deferred grants in creditors. Income from other grants and donations is recognised on receipt. Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions and is recognised as earned as the related goods or services provided.

Where a grant or donation is received for a specific purpose it is included in the restricted income and any unexpended portion carried forward as a restricted fund.

Tangible assets depreciation policy
Tangible assets are stated at cost less depreciation. Depreciation is calculated by the straight line method to write off the cost of fixed assets over their estimated useful at the following rates:
office equipment: 25% per annum

Other accounting policies
Resources expended.
All expenditure is accounted for on an accruals basis.
Governance costs are those directly associated with the running of a charitable company.

Taxation
The company is exempt from corporation tax on its charitable activities.
The company is not registered for VAT and expenditure includes VAT where relevant.

Fund accounting
Restricted funds may only be used for particular purposes within the objects of the charity as specified by the donor or by the terms of an application for the funds.
Designated funds are set aside by the directors out of unrestricted funds for specific purposes or projects.
The Unrestricted General Fund is available to be used for any of the charitable objects at the discretion of the directors.

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

3Tangible fixed assets

	£
Cost
At 1 January 2014	1
Additions	1,029
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	1,030
Depreciation
At 1 January 2014	-
Charge for the year	257
On disposals	-
At 31 December 2014	257
Net book values
At 31 December 2014	773
At 31 December 2013	1

In March 1997 the Derby IVS local group transferred its activities to the Beasley Trust and discontinued its own activities. Since then an IVS owned freehold property located in Derbyshire has been operated by the Beasley Trust.

During 2003 this property was leased to the Beasley Trust for 999 years at a nominal annual rent of £1. An exceptional cost of £3,993 was charged in 2003 to the Statement of Financial Activities to write down the asset to £1 in the balance sheet. On 5th December 2014 a transfer of the freehold of this property was made to the Beasley Trust.

4Fixed assets Investments
At 1 January 2014: £198,802
Additions: £0
Disposals: £0
Revaluations: £9,498
At 31 December 2014: £208,300

Analysis of investments
Material investment holdings:
The following represent more than 5% of the value of the charity's total investments:
CAF Fixed Interest Fund Units: £27,364
Schroder (formerly Cazenove) Growth Trust for Charities Accumulation Units: £69,954
Schroder Charity Fixed Interest Fund Accumulation Units: £110,519

5Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	7,051	-

Prepayments £676
Other debtors £6,375