Abbreviated Company Accounts - NEWENT INITIATIVE TRUST

NEWENT INITIATIVE TRUST - Company Information

Registered Number 03709565

NEWENT INITIATIVE TRUST

Abbreviated Accounts

31 August 2016

NEWENT INITIATIVE TRUST Registered Number 03709565

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	3	120,664	124,015
		120,664	124,015
Current assets
Cash at bank and in hand		18,147	11,282
		18,147	11,282
Creditors: amounts falling due within one year		(894)	(891)
Net current assets (liabilities)		17,253	10,391
Total assets less current liabilities		137,917	134,406
Total net assets (liabilities)		137,917	134,406
Reserves
Income and expenditure account		137,917	134,406
Members' funds		137,917	134,406

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 5 May 2017

And signed on their behalf by:
Keith C Urch, Director

NEWENT INITIATIVE TRUST Registered Number 03709565

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in
accordance with the Statement of Recommended Practice 'Accounting and Reporting by
Charities (SORP 2005)', issued in March 2005, the Financial Reporting Standard for Smaller
Entities (effective April 2008) and the Companies Act 2006.

Turnover policy
Incoming resources
Grants that provide core funding or are of a general nature are recognised where there is
entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or
services are provided) under contract.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:
Freehold Property 2% straight Line basis

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

3Tangible fixed assets

	£
Cost
At 1 September 2015	175,293
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2016	175,293
Depreciation
At 1 September 2015	51,278
Charge for the year	3,351
On disposals	-
At 31 August 2016	54,629
Net book values
At 31 August 2016	120,664
At 31 August 2015	124,015