Registration number:
The Glastonbury Goddess Temple
for the Year Ended 31 December 2016
Chartered Accountants
Lilac Cottage
The Street
Draycott
Cheddar
Somerset
BS27 3TH
The Glastonbury Goddess Temple
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
The Glastonbury Goddess Temple
Company Information
Chairman |
KS Jones |
Directors |
KS Jones KE Soetens SL Pullinger ES McCauliff |
Company secretary |
DMP Jones |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Glastonbury Goddess Temple
for the Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Glastonbury Goddess Temple for the year ended 31 December 2016 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of The Glastonbury Goddess Temple, as a body, in accordance with the terms of our engagement letter dated 2 July 2007. Our work has been undertaken solely to prepare for your approval the accounts of The Glastonbury Goddess Temple and state those matters that we have agreed to state to the Board of Directors of The Glastonbury Goddess Temple, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Glastonbury Goddess Temple and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Glastonbury Goddess Temple has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Glastonbury Goddess Temple. You consider that The Glastonbury Goddess Temple is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Glastonbury Goddess Temple. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
The Street
Draycott
Cheddar
Somerset
BS27 3TH
Page 2 |
The Glastonbury Goddess Temple
(Registration number: 05824913)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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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 |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
The Glastonbury Goddess Temple
(Registration number: 05824913)
Balance Sheet as at 31 December 2016
Approved and authorised by the
.........................................
KS Jones
Chairman
Page 4 |
The Glastonbury Goddess Temple
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a company limited by guarantee incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant |
25% straight line |
Furniture and Fittings |
15% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand that is readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 5 |
The Glastonbury Goddess Temple
Notes to the Financial Statements for the Year Ended 31 December 2016
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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- |
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Additions |
- |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
- |
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- |
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Charge for the year |
- |
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At 31 December 2016 |
- |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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- |
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Included within the net book value of land and buildings above is £173,255 (2015 - £173,255) in respect of freehold land and buildings.
Stocks |
2016 |
2015 |
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Merchandise |
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Page 6 |
The Glastonbury Goddess Temple
Notes to the Financial Statements for the Year Ended 31 December 2016
Debtors |
2016 |
2015 |
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Other debtors |
- |
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Total current trade and other debtors |
- |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Taxation and social security |
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- |
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Other creditors |
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Page 7 |
The Glastonbury Goddess Temple
Notes to the Financial Statements for the Year Ended 31 December 2016
Related party transactions |
Key management personnel
Four directors invoiced the company at agreed market rates for services provided in running courses and is included in cost of sales as course costs.
Transactions with directors |
2016 |
Other payments made to company by director |
At 31 December 2016 |
KS Jones |
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Services supplied |
31,270 |
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31,270 |
31,270 |
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KE Soetens |
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Services supplied |
9,410 |
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9,410 |
9,410 |
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ES McCauliff |
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Services supplied |
19,646 |
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19,646 |
19,646 |
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MA Patten |
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Services supplied |
6,600 |
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6,600 |
6,600 |
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2015 |
At 31 December 2015 |
KS Jones |
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19,848 |
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KE Soetens |
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10,437 |
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Page 8 |
The Glastonbury Goddess Temple
Notes to the Financial Statements for the Year Ended 31 December 2016
ES McCauliff |
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24,445 |
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MA Patten |
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2,524 |
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Expenditure with and payables to related parties
2016 |
Key management |
Rendering of services |
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2015 |
Key management |
Rendering of services |
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Page 9 |