Newent Initiative Trust


1 September 2016falseNo description of principal activityTaxfiler2018.4.Web03709565business:CompanyLimitedByGuarantee2016-09-012017-08-31037095652016-08-31037095652016-09-012017-08-3103709565business:AuditExempt-NoAccountantsReport2016-09-012017-08-3103709565business:FullAccounts2016-09-012017-08-31037095652017-08-3103709565business:Director12016-09-012017-08-3103709565business:Director22016-09-012017-08-3103709565business:Director32016-09-012017-08-3103709565business:Director42016-09-012017-08-3103709565business:Director52016-09-012017-08-3103709565business:Director62016-09-012017-08-3103709565business:Director72016-09-012017-08-3103709565business:Director82016-09-012017-08-3103709565business:CompanySecretary12016-09-012017-08-3103709565business:RegisteredOffice2016-09-012017-08-31037095652016-08-3103709565core:WithinOneYear2017-08-3103709565core:WithinOneYear2016-08-3103709565core:RetainedEarningsAccumulatedLosses2017-08-3103709565core:RetainedEarningsAccumulatedLosses2016-08-3103709565business:SmallEntities2016-09-012017-08-3103709565countries:EnglandWales2016-09-012017-08-3103709565core:LandBuildings2016-09-012017-08-3103709565core:LandBuildings2016-08-3103709565core:FurnitureFittings2016-08-3103709565core:LandBuildings2017-08-3103709565core:FurnitureFittings2017-08-3103709565core:FurnitureFittings2016-09-012017-08-31037095652015-09-012016-08-31iso4217:GBPxbrli:pure
Company Registration No. 03709565 (England and Wales)
Newent Initiative TrustUnaudited accounts for the year ended 31 August 2017
Newent Initiative TrustUnaudited accounts Contents
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Newent Initiative Trust Company Information for the year ended 31 August 2017
Directors
Martin Stephen DraperTrevor Bruce FowlerKerri GreenwoldEli HeathieldJane Margaret Highton Simon MasonKeith Charles UrchWilliam Henry Windsor Clive
Secretary
Alison Margaret Offord
Company Number
03709565 (England and Wales)
Registered Office
36 BROAD STREETNEWENTGLOUCESTERSHIREGL18 1AJ
Accountants
The Practice - Chartered Management Accountants 7 The Southend Ledbury Herefordshire HR8 2EY
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Newent Initiative Trust Statement of financial position as at 31 August 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
117,313 
120,664 
Current assets
Cash at bank and in hand
31,729 
18,147 
Creditors: amounts falling due within one year
(894)
(894)
Net current assets
30,835 
17,253 
Net assets
148,148 
137,917 
Reserves
Profit and loss account
148,148 
137,917 
Members' funds
148,148 
137,917 
For the year ending 31 August 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 April 2018.
Keith Charles Urch Director Company Registration No. 03709565
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Newent Initiative Trust Notes to the Accounts for the year ended 31 August 2017
1
Statutory information
Newent Initiative Trust is a private company, limited by guarantee, registered in England and Wales, registration number 03709565. The registered office is 36 BROAD STREET, NEWENT, GLOUCESTERSHIRE, GL18 1AJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line Basis
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2016
167,560 
7,733 
175,293 
At 31 August 2017
167,560 
7,733 
175,293 
Depreciation
At 1 September 2016
46,896 
7,733 
54,629 
Charge for the year
3,351 
- 
3,351 
At 31 August 2017
50,247 
7,733 
57,980 
Net book value
At 31 August 2017
117,313 
- 
117,313 
At 31 August 2016
120,664 
- 
120,664 
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Newent Initiative Trust Notes to the Accounts for the year ended 31 August 2017
5
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Accruals
894 
894 
6
Company limited by guarantee
The Company is limited by guarantee and consequently does not have share capital.
7
Average number of employees
During the year the average number of employees was 7 (2016: 8).
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