Abbreviated Company Accounts - KINGS CROSS CHURCH

KINGS CROSS CHURCH - Company Information

Registered Number 07416629

KINGS CROSS CHURCH

Abbreviated Accounts

31 December 2015

KINGS CROSS CHURCH Registered Number 07416629

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Investments	3	1	-
		1	-
Current assets
Debtors		88,892	31,927
Cash at bank and in hand		205,672	143,024
		294,564	174,951
Creditors: amounts falling due within one year		(37,568)	(33,900)
Net current assets (liabilities)		256,996	141,051
Total assets less current liabilities		256,997	141,051
Creditors: amounts falling due after more than one year		(50,000)	(50,000)
Total net assets (liabilities)		206,997	91,051
Reserves
Income and expenditure account		206,997	91,051
Members' funds		206,997	91,051

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 29 September 2016

And signed on their behalf by:
Francis James Harper, Director

KINGS CROSS CHURCH Registered Number 07416629

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 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published in July 2014 and the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.

Turnover policy
Donations and legacies are received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included.

Tangible assets depreciation policy
Fixed assets costing more than £500 are capitalised. Below this limit fixed asset costs are expensed.

Other accounting policies
Expenditure
Expenditure is recognised in the period in which they are incurred. Expenditure includes attributable VAT that cannot be recovered. The church does not engage in fund raising activities. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Central resource costs are allocated equally to the activities. All other governance activities are undertaken by members of the Council who are all volunteers.

Funds accounting
Unrestricted funds are donations and other incoming resources receivable or generated without further specified purpose and are available for any purpose within the objects of the charity.
Designated funds are unrestricted funds earmarked by the Council for particular purposes. The Giving fund is the only designated fund.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of central support costs. The York House Fund, CRT/Ministry Fund are TENT are the only restricted funds.

Pension costs
Pensions are provided for staff by means of money purchase personal pension schemes to which the church makes a contribution.

Investments
Fixed asset investments are stated at market value when held at the balance sheet date and the gain or loss taken to the Statement of Financial Activities. The shares held in its trading subsidiary are stated at cost.

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

3Fixed assets Investments
During the year, the charity acquired the share capital of its trading subsidiary KXC Facilities Management Ltd. The charity purchased 1 £1 ordinary share at par.