Abbreviated Company Accounts - PENICUIK CITIZENS ADVICE BUREAU

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 represents amounts invoiced, excluding VAT, in respect of goods and services

Tangible assets depreciation policy
Depreciation is calculated to write off the cost of fixed assets on a straight-line basis as follows:
office equipment 25%

Intangible assets amortisation policy
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Valuation information and policy
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Other accounting policies
Basis of Accounting - the Accounts are prepared under the historical cost convention, in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006. In preparing these statements the Charity follows best practice as laid down in the Statement of Recommended Practice on Accounting by Charities (2005).

Incoming Resources - All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of
Financial Activities (SoFA) when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognized when the charity becomes unconditionally entitled to the grant;
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts;
Investment income is included when receivable;
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Resources Expended - Expenditure is included on an accruals basis. The CAB is not
registered for VAT so expenditure is shown gross of irrecoverable VAT.
Costs of generating funds comprise the costs associated with attracting voluntary
Income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of
its activities and services for its beneficiaries. It includes both costs that can be
allocated directly to such activities and those costs of an indirect nature necessary to
support them.
Governance costs include those costs associated with meeting the constitutional and
statutory requirements of the charity and include the audit fees and costs linked to the
strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis
designed to reflect the use of the resource. Costs relating to a particular activity are
allocated directly, while others are apportioned on an appropriate basis.

Pensions: The Company provides for employees to pay money into a money purchase personal pension scheme.
Funds held by the charity are:
Unrestricted funds: these are the funds that can be used in accordance with the charitable objects at the discretion of the directors;
Designated funds: these are unrestricted funds that the directors have set aside for a particular purpose;
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 if they have been raised for a specific purpose.

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