Abbreviated Company Accounts - CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD

Abbreviated Company Accounts - CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD

CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD - Company Information

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Registered Number NI041649

CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD

Abbreviated Accounts

31 March 2014

CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD Registered Number NI041649

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets - -
Tangible assets 3 99,177 102,827
99,177 102,827
Current assets
Stocks - -
Debtors 9,320 28,690
Investments - -
Cash at bank and in hand 25 398
9,345 29,088
Creditors: amounts falling due within one year (42,018) (33,733)
Net current assets (liabilities) (32,673) (4,645)
Total assets less current liabilities 66,504 98,182
Total net assets (liabilities) 66,504 98,182
Reserves
Revaluation reserve 0 0
Other reserves 0 0
Income and expenditure account 66,504 98,182
Members' funds 66,504 98,182
  • 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 10 December 2014

And signed on their behalf by:
T Webster, Director

CENTRE FOR CONTEMPORARY ART DERRY-LONDONDERRY LTD Registered Number NI041649

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
Income includes monies received from Arts Council and the City of Derry Culture Fund.

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 estimated residual value of each asset over its expected useful life, as follows:
Land and building leasehold
Plant & Equipment - 10% straight line
Computer Equipment - 33.3% straight line
Fixtures & Fittings - 10& reducing balance

Other accounting policies
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method.

Government grants
Grants represent all amounts received and receivable during the year. Grants that relate to specific capital expenditure are credited to Designated funds and are written off at rates equivalent to depreciation rates on the assets on which grants have been claimed. Grants towards revenue expenditure are released to profit and loss account as the related expenditure is incurred.

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

3Tangible fixed assets
£
Cost
At 1 April 2013 119,772
Additions 6,493
Disposals -
Revaluations -
Transfers -
At 31 March 2014 126,265
Depreciation
At 1 April 2013 16,945
Charge for the year 10,143
On disposals -
At 31 March 2014 27,088
Net book values
At 31 March 2014 99,177
At 31 March 2013 102,827