Abbreviated Company Accounts - THE CORNELIUS ARTS FOUNDATION LIMITED

Abbreviated Company Accounts - THE CORNELIUS ARTS FOUNDATION LIMITED

THE CORNELIUS ARTS FOUNDATION LIMITED - Company Information

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Registered Number 07631666

THE CORNELIUS ARTS FOUNDATION LIMITED

Abbreviated Accounts

31 May 2016

THE CORNELIUS ARTS FOUNDATION LIMITED Registered Number 07631666

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets - -
Tangible assets 3 16 119
Investments - -
16 119
Current assets
Stocks - -
Debtors 135 -
Investments - -
Cash at bank and in hand 1,480 5,172
1,615 5,172
Prepayments and accrued income - -
Creditors: amounts falling due within one year (11,216) (12,498)
Net current assets (liabilities) (9,601) (7,326)
Total assets less current liabilities (9,585) (7,207)
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) (9,585) (7,207)
Reserves
Revaluation reserve 0 0
Other reserves 0 0
Income and expenditure account (9,585) (7,207)
Members' funds (9,585) (7,207)
  • For the year ending 31 May 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.

Approved by the Board on 27 February 2017

And signed on their behalf by:
Marianne Magnin, Director

THE CORNELIUS ARTS FOUNDATION LIMITED Registered Number 07631666

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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

3Tangible fixed assets
£
Cost
At 1 June 2015 309
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 May 2016 309
Depreciation
At 1 June 2015 190
Charge for the year 103
On disposals 0
At 31 May 2016 293
Net book values
At 31 May 2016 16
At 31 May 2015 119