Registered Number 07664414
WELSH FISHERMAN'S ASSOCIATION-CYMDEITHAS PYSGOTWYR CYMRU LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Reserves | |||
Income and expenditure account |
( |
( |
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Members' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
revaluation of certain financial assets and liabilities and investment properties measured at fair value
through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover policy
and services rendered, net of discounts and Value Added Tax.
Tangible assets depreciation policy
over the useful economic life of that asset as follows:
Plant & Machinery - 25% reducing balance
Equipment - 25% reducing balance
Other accounting policies
event, it is probable that the entity will be required to transfer economic benefits in settlement and the
amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the
abbreviated statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at
the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current
best estimate of the amount that would be required to settle the obligation. Any adjustments to the
amounts previously recognised are recognised in profit or loss unless the provision was originally
recognised as part of the cost of an asset. When a provision is measured at the present value of the
amount expected to be required to settle the obligation, the unwinding of the discount is recognised as
a finance cost in profit or loss in the period it arises.
2
Company limited by guarantee
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
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At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 14,931 |
At 31 March 2015 | 19,908 |
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount
of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any
previously recognised revaluation increase accumulated in equity in respect of that asset. Where a
revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of
that asset, the excess shall be recognised in profit or loss.