Abbreviated Company Accounts - PRIME EDUCATION FOUNDATION

PRIME EDUCATION FOUNDATION - Company Information

Registered Number 08322153

PRIME EDUCATION FOUNDATION

Abbreviated Accounts

31 March 2015

PRIME EDUCATION FOUNDATION Registered Number 08322153

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	3	1,236	-
		1,236	-
Current assets
Cash at bank and in hand		13,253	5,293
		13,253	5,293
Creditors: amounts falling due within one year		(1,131)	(250)
Net current assets (liabilities)		12,122	5,043
Total assets less current liabilities		13,358	5,043
Total net assets (liabilities)		13,358	5,043
Reserves
Income and expenditure account		13,358	5,043
Members' funds		13,358	5,043

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 16 October 2015

And signed on their behalf by:
Zahoor Ahmed, Director

PRIME EDUCATION FOUNDATION Registered Number 08322153

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

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

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

Other accounting policies
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives 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 April 2014	0
Additions	1,648
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	1,648
Depreciation
At 1 April 2014	0
Charge for the year	412
On disposals	-
At 31 March 2015	412
Net book values
At 31 March 2015	1,236
At 31 March 2014	0

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture & Fixtures: 25% Straight line