Abbreviated Company Accounts - AKIN & FUNKE LAOSUN FOUNDATION

AKIN & FUNKE LAOSUN FOUNDATION - Company Information

Registered Number 07857996

AKIN & FUNKE LAOSUN FOUNDATION

Abbreviated Accounts

30 November 2013

AKIN & FUNKE LAOSUN FOUNDATION Registered Number 07857996

Abbreviated Balance Sheet as at 30 November 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	3	484,351	-
		484,351	-
Current assets
Cash at bank and in hand		2,814	212
		2,814	212
Creditors: amounts falling due within one year		(3,155)	-
Net current assets (liabilities)		(341)	212
Total assets less current liabilities		484,010	212
Creditors: amounts falling due after more than one year		(493,175)	-
Total net assets (liabilities)		(9,165)	212
Reserves
Income and expenditure account		(9,165)	212
Members' funds		(9,165)	212

For the year ending 30 November 2013 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 August 2014

And signed on their behalf by:
MR AKIN LAOSUN, Director

AKIN & FUNKE LAOSUN FOUNDATION Registered Number 07857996

Notes to the Abbreviated Accounts for the period ended 30 November 2013

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
The turnover shown in the income and expenditure accounts represents donation received during the period, exclusive of VAT

Tangible assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings- 2% on cost or revalued amounts.

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

3Tangible fixed assets

	£
Cost
At 1 December 2012	-
Additions	491,175
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2013	491,175
Depreciation
At 1 December 2012	-
Charge for the year	6,824
On disposals	-
At 30 November 2013	6,824
Net book values
At 30 November 2013	484,351
At 30 November 2012	-