1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements of the charitable company have been prepared in accordance with the
Charities SORP (FRSSE) 'Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard for Smaller Entities (the FRSSE) (effective 1 January 2015)', the Financial Reporting
Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial
statements have been prepared under the historical cost convention.

Turnover policy
All income is recognised in the Statement of Financial Activities once the charity has entitlement to
the funds, it is probable that the income will be received and the amount can be measured
reliably.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Marquee & Container - 25% on reducing balance
Equipment - 25% on reducing balance

Heritage assets
The Heritage assets are stated at historical cost, together with the accumulated costs of
restoration to working order as incurred. Due to the special nature of the assets, it is considered
impractical to adopt a policy of revaluation.
The trustees consider the assets each year in terms of impairment. Should any impairment arise
this will be charged to the statement of financial activities in the year in which it occurs. Generally
the trustee believe that assets appreciate in value and therefore no policy of depreciation is
applied in order to show a true and fair view.

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