Threlkeld Quarry Museum Limited - Period Ending 2016-10-31

Registration number: 05982638

Threlkeld Quarry Museum Limited

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Threlkeld Quarry Museum Limited
(Registration number: 05982638)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					79,347			81,274
Investments					500			500
					79,847			81,774
Current assets
Stocks					1,758			1,848
Debtors					2,133			8,011
Cash at bank and in hand					82,808			70,413
					86,699			80,272
Creditors: Amounts falling due within one year					(3,127)			(1,456)
Net current assets					83,572			78,816
Total assets less current liabilities					163,419			160,590
Creditors: Amounts falling due after more than one year					(2,276)			(2,276)
Net assets					161,143			158,314
Capital and reserves
Profit and loss account					161,143			158,314
Shareholders' funds					161,143			158,314

The notes on pages 3 to 4 form an integral part of these financial statements.
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Threlkeld Quarry Museum Limited
(Registration number: 05982638)
Abbreviated Balance Sheet at 31 October 2016
......... continued

For the year ending 31 October 2016 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the director on 3 December 2016

.........................................
Mr W I Hartland
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Threlkeld Quarry Museum Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers. It includes the relevant proportion of contract values where work is partially performed in the year.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and equipment	15% reducing balance basis
Property improvement	5% straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Threlkeld Quarry Museum Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 November 2015		93,897			500			94,397
Additions		445			-			445
At 31 October 2016		94,342			500			94,842
Depreciation
At 1 November 2015		12,623			-			12,623
Charge for the year		2,372			-			2,372
At 31 October 2016		14,995			-			14,995
Net book value
At 31 October 2016		79,347			500			79,847
At 31 October 2015		81,274			500			81,774

3	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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