Registered Number 07874206
FRIENDS OF IBBA GIRLS SCHOOL, SOUTH SUDAN
Micro-entity Accounts
31 December 2016
Notes | 2016 | 2015 | |
---|---|---|---|
£ | £ | ||
Fixed Assets |
|
|
|
Current assets | |||
Debtors | 1 |
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Prepayments and accrued income |
|
|
|
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Reserves |
|
|
Approved by the Board on
And signed on their behalf by:
2016
£ |
2015
£ |
|
---|---|---|
Debtors include the following amounts due after more than one year |
|
|
2 Accounting Policies
Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Charities Statement of Accounting and Reporting (SORP) 2015 (Financial Reporting Standard 102) and the Companies Act 2006.
Turnover policy
Incoming resources are included in the Statement of Financial Activities (SoFA) when:
• the charity becomes entitled to the resources;
• the trustees are virtually certain they will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income
This is included in the accounts when receivable.
Restricted income funds
Restricted income funds are funds which are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding. The aims and uses of each restricted fund are set out in the notes to the financial statements. The value of restricted funds is small compared to the total income and often held only for a short time before being expended. Trustees have not sought to apportion the interest earned on cash balances and bank fees paid across all the restricted funds on the grounds of materiality.
Tangible assets depreciation policy
Intangible assets amortisation policy
Other accounting policies
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance costs
Governance costs include the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources
Currency conversion
The charity makes overseas payments to IGBS and some suppliers in US dollars. Expenditure in US dollars has been converted to sterling based on an average rate of conversion prior to the date the expenditure was incurred. Holdings in US dollars at 31 December 2014 have been converted to sterling at the rate of GBP1 = USD 1.5578.
Going concern
The Trustees have prepared the accounts on the going concern basis as they are confident that there will be sufficient funds available to meet their commitments to repay the loans in accordance with the terms agreed with the loan providers.
3
Company limited by guarantee