Abbreviated Company Accounts - COVENTRY OLD GRAMMAR SCHOOL LTD.
Abbreviated Company Accounts - COVENTRY OLD GRAMMAR SCHOOL LTD.
Registered Number 07405265
COVENTRY OLD GRAMMAR SCHOOL LTD.
Abbreviated Accounts
31 October 2016
COVENTRY OLD GRAMMAR SCHOOL LTD. Registered Number 07405265
Abbreviated Balance Sheet as at 31 October 2016
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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.
Approved by the Board on
And signed on their behalf by:
COVENTRY OLD GRAMMAR SCHOOL LTD. Registered Number 07405265
Notes to the Abbreviated Accounts for the period ended 31 October 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Donations and gifts are included in full in the Statement of Financial Activities when receivable.
The value of services provided by volunteers has not been included.
Other accounting policies
All expenditure is included on an accruals basis.
The charity has creditors which are measured at settlement amounts less any trade discounts.
General Funds
These comprise unrestricted funds that are available for the general purposes of the charity.
Cash at Bank and in Hand
The bank balances at 31st October were £621. (2015 £620)
Creditors due within 1 year
Accruals at 31st October were £130. (2015 nil)
Heritage Assets
The charity has an heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture.
The heritage asset is the land and building comprising the Old Grammar School, Hales Street, Coventry, a Grade I listed building was transferred to the charity on 23rd October 2013. At the date of transfer the directors are of the opinion that the property had nil value.
The transfer included the transfer of the land and building comprising the Old Grammar School, Hales Street, Coventry a Grade I listed building that had been donated to the Old Grammar School Charity and held at nil value. At the date of transfer the directors are of the opinion that the property in a state of dilapidation had nil value. The Lottery funding received by Culture Coventry made it possible to conserve and revitalise the building and allow the building to be brought back into use and the Directors to achieve the charitable aims of the company. The land and buildings are currently insured for approximately £3.1 million. The directors are of the view that as the aim was to hold it as a heritage property it would not make economic sense or be practicable to have the building revalued.
2Company limited by guarantee