Registered Number 04218731
MERSEYSIDE NETWORK FOR CHANGE LIMITED
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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( |
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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 | |||
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:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Equipment - 25% straight line.
Other accounting policies
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and Apportionment of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.
Fund Accounting
Funds held by the charity can be either:-
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a specific restricted purpose. Designated funds - these are unrestricted funds earmarked by the trustees for particular purposes.
Income Recognition Policies
Items of income are recognised and included in the accounts when the following are met. (1) The charity has entitlement to the funds. (2) Any performance conditions attached to the income have been met or are fully within the control of the charity. (3) There is sufficient certainty that receipt of the income is considered probable and (4) The amount can be measured reliably.
Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discount due.
Cash at Bank and in Hand
Cash at bank and in hand includes cash and short term liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and Provisions
Creditors and provisions are reecognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value amount after allowing for any discount due.
Financial Instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2
Company limited by guarantee
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
( |
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 |
( |
At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 2,071 |
At 31 March 2015 | 2,761 |