Registered Number NI037937
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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Fixed assets | |||
Tangible assets | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Reserves | |||
Other reserves |
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Income and expenditure account |
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Members' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
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
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
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At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 429,995 |
At 31 March 2015 | 438,501 |