Abbreviated Company Accounts - NEWENT INITIATIVE TRUST

NEWENT INITIATIVE TRUST - Company Information

Registered Number 03709565

NEWENT INITIATIVE TRUST

Abbreviated Accounts

31 August 2015

NEWENT INITIATIVE TRUST Registered Number 03709565

Abbreviated Balance Sheet as at 31 August 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	3	124,015	127,366
		124,015	127,366
Current assets
Cash at bank and in hand		11,282	8,780
		11,282	8,780
Creditors: amounts falling due within one year		(891)	(889)
Net current assets (liabilities)		10,391	7,891
Total assets less current liabilities		134,406	135,257
Total net assets (liabilities)		134,406	135,257
Reserves
Income and expenditure account		134,406	135,257
Members' funds		134,406	135,257

For the year ending 31 August 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 8 March 2016

And signed on their behalf by:
Mrs M J Highton, Director

NEWENT INITIATIVE TRUST Registered Number 03709565

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006.

Turnover policy
Incoming resources
Grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or
services are provided) under contract.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:

Freehold Property 2% straight Line basis

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

3Intangible fixed assets

	£
Cost
At 1 September 2014	175,293
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2015	175,293
Amortisation
At 1 September 2014	47,927
Charge for the year	3,351
On disposals	-
At 31 August 2015	51,278
Net book values
At 31 August 2015	124,015
At 31 August 2014	127,366