Micro-entity Accounts - BHAGAVAT EDUCATIONAL TRUST LIMITED
Micro-entity Accounts - BHAGAVAT EDUCATIONAL TRUST LIMITED
Registered Number 03646554
BHAGAVAT EDUCATIONAL TRUST LIMITED
Micro-entity Accounts
30 September 2017
BHAGAVAT EDUCATIONAL TRUST LIMITED Registered Number 03646554
Micro-entity Balance Sheet as at 30 September 2017
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Fixed Assets |
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Current Assets |
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Creditors: amounts falling due within one year | 1 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Reserves |
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For the year ending 30 September 2017 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 Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
BHAGAVAT EDUCATIONAL TRUST LIMITED Registered Number 03646554
Notes to the Micro-entity Accounts for the period ended 30 September 2017
2017
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2016
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Non-instalment debts due after 5 years |
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2Accounting Policies
Basis of measurement and preparation of accounts
Other accounting policies
The accounts are prepared under the historical cost convention and in accordance with applicable
accounting standards. In preparing the accounts, the charity follows best practice as set out inthe
Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in
March 2005.
Cash flow statement
The company has taken advantage of the exemption available per FRS 1 for small companies not
To prepare a cash flow statement.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
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 when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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.
Investment income is included when receivable
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates
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 accountancy 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, others are apportioned on an appropriate basis.
Foreign exchange gains and losses policy
the translation of foreign currency transactions and financial statements should produce results that are generally compatible with the effects of exchange rates on a company's cash flows and its equity;
the financial statements should present a true and fair view of the results of management actions; and
consolidated financial statements should reflect the financial results of and relationships as measured in the foreign currency financial statements prior to translation.
Financial Activities
Financial activities incorporate the income and expenditure account
Employees
No Staff member has received in excess of £60,000, while the average number of staff in the UK was 1 part time member
3Company limited by guarantee