| GStreamer Foundation |
| Registered number: |
10367715 |
| Balance sheet |
| as at 30 September 2017 |
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| Notes |
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|
2017 |
|
| £ |
|
| Current assets |
| Cash at bank and in hand |
|
|
42,446 |
|
| Creditors: amounts falling due within one year |
4 |
|
(17,076) |
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| Net current assets |
|
|
|
25,370 |
|
|
| Net assets |
|
|
|
25,370 |
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|
|
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| Capital and reserves |
| Profit and loss account |
|
|
|
25,370 |
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| Members' funds |
|
|
|
25,370 |
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|
|
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| These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken, under s444. |
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| The members are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
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| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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| The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements. |
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|
| ……………………………… |
| Mr T C Mueller |
| Director |
| Approved by the board on 23 April 2018 |
|
| GStreamer Foundation |
| Notes to the unaudited financial statements |
| for the period from 9 September 2016 to 30 September 2017 |
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|
| 1 |
General Information |
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Gstreamer Foundation is a private company limited by guarantee and incorporated in England and Wales. Its registered office is : 6 Lower Park Row, Bristol, United Kingdom, BS1 5BJ . |
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| 2 |
Accounting policies |
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Basis of preparation |
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These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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First year adoption |
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These financial statements for the period ended 30 September 2017 are the first financial statements of the Company following the adoption of FRS 102. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. |
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Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. |
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At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 3 |
Donation Income |
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During the year, GStreamer Foundation received £17,118 of donation income, included within the turnover figure, for the foundation to use to further the goals of the project as defined in the foundation's articles. |
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| 4 |
Creditors: amounts falling due within one year |
2017 |
|
| £ |
|
|
|
Trade creditors |
10,253 |
|
Corporation tax |
6,241 |
|
Other taxes and social security costs |
582 |
|
|
|
|
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|
17,076 |
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