Abbreviated Company Accounts - LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION - Company Information

Registered Number 05737359

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

Abbreviated Accounts

31 March 2014

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION Registered Number 05737359

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	73,244	79,025
		73,244	79,025
Current assets
Stocks		6,021	6,666
Debtors		964	455
Cash at bank and in hand		4,370	37,139
		11,355	44,260
Creditors: amounts falling due within one year		(3,501)	(2,807)
Net current assets (liabilities)		7,854	41,453
Total assets less current liabilities		81,098	120,478
Creditors: amounts falling due after more than one year		-	(3,500)
Total net assets (liabilities)		81,098	116,978
Reserves
Income and expenditure account		81,098	116,978
Members' funds		81,098	116,978

For the year ending 31 March 2014 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 7 November 2014

And signed on their behalf by:
D Kent, Director

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION Registered Number 05737359

Notes to the Abbreviated Accounts for the period ended 31 March 2014

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 April 2008.

Turnover policy
Turnover represents amounts chargeable in respect of sale of goods and services to customers.

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

Asset class Depreciation method and rate
Equipment 25% reducing balance basis
Fixtures and fittings 25% reducing balance basis

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

3Tangible fixed assets

	£
Cost
At 1 April 2013	241,684
Additions	18,763
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	260,447
Depreciation
At 1 April 2013	162,659
Charge for the year	24,544
On disposals	-
At 31 March 2014	187,203
Net book values
At 31 March 2014	73,244
At 31 March 2013	79,025