Abbreviated Company Accounts - USK RURAL LIFE MUSEUM

Abbreviated Company Accounts - USK RURAL LIFE MUSEUM

USK RURAL LIFE MUSEUM - Company Information

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Registered Number 06727091

USK RURAL LIFE MUSEUM

Abbreviated Accounts

31 December 2015

USK RURAL LIFE MUSEUM Registered Number 06727091

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets - -
Tangible assets 3 131,554 131,334
131,554 131,334
Current assets
Stocks 637 632
Debtors 2,049 10,999
Cash at bank and in hand 32,190 21,801
34,876 33,432
Creditors: amounts falling due within one year (2,716) (4,525)
Net current assets (liabilities) 32,160 28,907
Total assets less current liabilities 163,714 160,241
Creditors: amounts falling due after more than one year (67,790) (67,790)
Total net assets (liabilities) 95,924 92,451
Reserves
Other reserves 95,924 92,451
Members' funds 95,924 92,451
  • For the year ending 31 December 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 28 July 2016

And signed on their behalf by:
P K Munson, Director
R C Edwards, Director

USK RURAL LIFE MUSEUM Registered Number 06727091

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant & machinery -15% reducing balance

Other accounting policies
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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

3Tangible fixed assets
£
Cost
At 1 January 2015 131,334
Additions 259
Disposals -
Revaluations -
Transfers -
At 31 December 2015 131,593
Depreciation
At 1 January 2015 -
Charge for the year 39
On disposals -
At 31 December 2015 39
Net book values
At 31 December 2015 131,554
At 31 December 2014 131,334