Abbreviated Company Accounts - COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE

Abbreviated Company Accounts - COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE

COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE - Company Information

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Registered Number NI032244

COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE

Abbreviated Accounts

31 March 2014

COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE Registered Number NI032244

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 3 4,995 5,875
4,995 5,875
Current assets
Debtors 4 - 706
Cash at bank and in hand 573 681
573 1,387
Creditors: amounts falling due within one year 5 (1,000) (1,000)
Net current assets (liabilities) (427) 387
Total assets less current liabilities 4,568 6,262
Accruals and deferred income (4,995) (5,875)
Total net assets (liabilities) (427) 387
Reserves
Income and expenditure account (427) 387
Members' funds (427) 387
  • 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 11 December 2014

And signed on their behalf by:
Edward Montgomery, Director

COLERAINE LOCAL ACTION GROUP FOR ENTERPRISE Registered Number NI032244

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of funding received during the year.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 15% reducing balance

Other accounting policies
Taxation
The yearly charge for taxation is based on the profit for the year and is calculated with reference to the tax rates applying at the balance sheet date.

Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Going Concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern.

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

3Tangible fixed assets
£
Cost
At 1 April 2013 31,365
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 31,365
Depreciation
At 1 April 2013 25,490
Charge for the year 880
On disposals -
At 31 March 2014 26,370
Net book values
At 31 March 2014 4,995
At 31 March 2013 5,875
4Debtors
2014
£		 2013
£
Debtors include the following amounts due after more than one year - 706
5Creditors
2014
£		 2013
£
Secured Debts 1,000 1,000