Registered Number NI037937

BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE

Abbreviated Accounts

31 March 2016

BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE Registered Number NI037937

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 3 429,995 438,501
429,995 438,501
Current assets
Debtors 4,372 4,005
Cash at bank and in hand 969 845
5,341 4,850
Creditors: amounts falling due within one year (2,902) (791)
Net current assets (liabilities) 2,439 4,059
Total assets less current liabilities 432,434 442,560
Total net assets (liabilities) 432,434 442,560
Reserves
Other reserves 461,341 472,730
Income and expenditure account (28,907) (30,170)
Members' funds 432,434 442,560
  • For the year ending 31 March 2016 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 22 December 2016

And signed on their behalf by:
Mr Colin Dempster, Director
Mr Edward Pickering, Director

BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE Registered Number NI037937

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of accounting

The accounts financial statements have been prepared in accordance with 'Accounting and Reporting by Charities' applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2014. Details of how FRS 12 has affected the reported financial position and financial performance is given in note 18.

Cash flow statement

The trustees have taken advantage of the exemption from including a cash flow statement in the accounts financial statements on the grounds that the charity is small.

Fixed assets

All fixed assets are initially recorded at cost.

Grants

Revenue grants are credited to the statement of financial activities in the period which they fall due.

Funding accounting

Restricted Funds – The restricted funds represent donations received where the donor has imposed restrictions on the use of the funds which are legally binding on the Board of Trustees.

Unrestricted Funds – The unrestricted funds are under the control of the Board of Trustees, to be used in the furtherance of the general charitable objectives of the company.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% pa straight line
Equipment - 33.33% straight line
Fixtures & Fittings - 20% pa straight line

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

3Tangible fixed assets
£
Cost
At 1 April 2015 549,064
Additions 2,996
Disposals -
Revaluations -
Transfers -
At 31 March 2016 552,060
Depreciation
At 1 April 2015 110,563
Charge for the year 11,502
On disposals -
At 31 March 2016 122,065
Net book values
At 31 March 2016 429,995
At 31 March 2015 438,501