Abbreviated Company Accounts - MAGHABERRY COMMUNITY ASSOCIATION

MAGHABERRY COMMUNITY ASSOCIATION - Company Information

Registered Number NI606737

MAGHABERRY COMMUNITY ASSOCIATION

Abbreviated Accounts

31 March 2014

MAGHABERRY COMMUNITY ASSOCIATION Registered Number NI606737

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	1,762	1,947
		1,762	1,947
Current assets
Cash at bank and in hand		14,078	16,199
		14,078	16,199
Creditors: amounts falling due within one year		(750)	(720)
Net current assets (liabilities)		13,328	15,479
Total assets less current liabilities		15,090	17,426
Total net assets (liabilities)		15,090	17,426
Reserves
Income and expenditure account		15,090	17,426
Members' funds		15,090	17,426

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 3 December 2014

And signed on their behalf by:
Helen Reddick, Director

MAGHABERRY COMMUNITY ASSOCIATION Registered Number NI606737

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. and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities issued in March 2005 (SORP 2005)

Tangible assets depreciation policy
All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of the asset less its estimated residual value, over the useful economic life of that asset as follows:
Equip 20% straight line
F&F 20% Straight line

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital. Each member of the company has undertaken to contribute such amounts as will be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member or within 1 year after he or she ceases to be a member.

3Tangible fixed assets

	£
Cost
At 1 April 2013	2,695
Additions	255
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	2,950
Depreciation
At 1 April 2013	748
Charge for the year	440
On disposals	-
At 31 March 2014	1,188
Net book values
At 31 March 2014	1,762
At 31 March 2013	1,947