| MBCOL Limited |
| Notes to the Accounts |
| for the year ended 31 March 2018 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts have also been prepared with the Statement of Recommended Practiced (SORP) - "Accounting and Reporting by Charities" issued by the Charity Commissioners in England and Wales. |
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Income |
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Grant income represents amounts received and receivable from Leicester City Council. Donations, interment fee and other income are accounted for when received. |
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Resources expended |
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Resources expended are accounted for as a liability is incurred. Expenditure includes irrecoverable VAT which is reported as part of the expenditure to which it relates. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation. The costs of minor additions or those costing below £3,000 are not capitalised. Depreciation is provided at rates calculated to write off of each asset over its estimated useful life, over 4 years. |
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Stocks |
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Stocks are measured at the lower of cost and net realisable value. |
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Funds |
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Funds comprise of unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. The directors use part of the unrestricted funds for various specific projects and have set up a designated fund to reflect this. The funds held in each of the relevant categories are disclosed in the notes to the accounts. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
M I Umar |
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Firm: |
Smith Hannah Limited |
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Date of audit report: |
11 October 2018 |
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| 3 |
Employees |
2018 |
|
2017 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 4 |
Tangible fixed assets |
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Office equipment |
| £ |
|
Cost |
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At 1 April 2017 |
3,893 |
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At 31 March 2018 |
3,893 |
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Depreciation |
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At 1 April 2017 |
3,893 |
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At 31 March 2018 |
3,893 |
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Net book value |
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At 31 March 2018 |
- |
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| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
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Other creditors |
1,150 |
|
1,150 |
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| 6 |
Designated Funds |
2018 |
|
2017 |
| £ |
£ |
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At 1 April 2017 |
30,797 |
|
30,797 |
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At 31 March 2018 |
30,797 |
|
30,797 |
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Designated funds comprise :- |
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Multi Faith Bereavement Book Project |
5,500 |
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20th Anniversary Celebration Fund |
5,000 |
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Centralised Services |
20,297 |
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Total |
30,797 |
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| 7 |
General Funds |
2018 |
| £ |
|
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At 1 April 2017 |
54,467 |
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Surplus for the year |
2,611 |
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Transfer to designated funds |
- |
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At 31 March 2018 |
57,078 |
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| 8 |
Related party transactions |
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No trustees received any remuneration (2017:£nil). During the year, the company paid rent amounting to £6,000 (2017:£6,000) to A Y Sabat, a trustee, on normal commercial terms in respect of the premises occupied by the company.
During the year, S Nagdi, a trustee, was reimbursed for expenses amounting to £nil (2017:£235). |
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| 9 |
Other information |
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MBCOL Limited is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
50 Woodgate |
|
Leicester |
|
LE3 5GF |
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The principal office of operation is: |
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|
1A Moat Road |
|
Leicester |
|
LE5 5EF |
