Abbreviated Company Accounts - ASHFORD VOLUNTEER CENTRE

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover consists of office rentals and service charges. Donations and voluntary income are accounted for gross when received.

Tangible assets depreciation policy
Fixed assets for charity use are capitalised at cost when acquired or market value as determined by the Directors where donated. They are stated in the accounts at cost/original value less depreciation.
Depreciation is calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures, furniture and equipment - 20% on reducing balance
Depreciation has not been provided for freehold property since the cost of the property was fully funded by grants and donations and the Directors consider that no purpose would be served in apportioning the cost of the property between land and buildings. The Directors are, however, of the opinion that the value of the property is not less than net book value as at 31st March 2016 as shown in the notes to the accounts.

Other accounting policies
Allocation of costs
There is no direct charitable expenditure since the organisation has been established to provide services to other charities.
Realised and Unrealised Gains and Losses
All realised gains and losses are recognised in the accounts. No unrealised gains and losses have been recognised.

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