Abbreviated Company Accounts - COMMONWEALTH ARTS AND CULTURAL FOUNDATION

Abbreviated Company Accounts - COMMONWEALTH ARTS AND CULTURAL FOUNDATION

COMMONWEALTH ARTS AND CULTURAL FOUNDATION - Company Information

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Registered Number 02856998

COMMONWEALTH ARTS AND CULTURAL FOUNDATION

Abbreviated Accounts

30 September 2016

COMMONWEALTH ARTS AND CULTURAL FOUNDATION Registered Number 02856998

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 3 437 583
437 583
Current assets
Cash at bank and in hand 21 878
21 878
Creditors: amounts falling due within one year (36,765) (39,188)
Net current assets (liabilities) (36,744) (38,310)
Total assets less current liabilities (36,307) (37,727)
Total net assets (liabilities) (36,307) (37,727)
Reserves
Income and expenditure account (36,307) (37,727)
Members' funds (36,307) (37,727)
  • For the year ending 30 September 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 29 June 2017

And signed on their behalf by:
Mr M Ringwood, Director

COMMONWEALTH ARTS AND CULTURAL FOUNDATION Registered Number 02856998

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention
and include the results of the company's operations which are described in the
Director's Report and all of which are continuing.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, net of anticipated
disposal proceeds, over the useful economic life of that asset as follows:

Office Furniture & Equipment - 25% Written Down Value
Musical Equipment - 25% Written Down Value

Other accounting policies
Basis of preparation of accounts
The financial statements have been prepared on a going concern basis which assumes that
the company will continue in operational existence for the foreseeable future. The
validity of this assumption depends on the continued support of the company's creditors.

If the company were unable to continue in operational existence for the foreseeable
future, adjustments would have to be made to reduce the balance sheet values of assets to
their recoverable amounts to provide for any further liabilities that might arise and to
reclassify fixed assets and long term liabilities as current assets and liabilities.

The director has taken advantage of the exemption in Financial Reporting Standard
No 1 from including a cash flow statement in the financial statements on the grounds
that the company is small.

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

3Tangible fixed assets
£
Cost
At 1 October 2015 6,382
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2016 6,382
Depreciation
At 1 October 2015 5,799
Charge for the year 146
On disposals -
At 30 September 2016 5,945
Net book values
At 30 September 2016 437
At 30 September 2015 583