Registered Number 07874206


Micro-entity Accounts

31 December 2016


Micro-entity Balance Sheet as at 31 December 2016

Notes 2016 2015
£ £
Fixed Assets - -
Current assets
Debtors 1 18,840 15,833
Cash at bank and in hand 215,260 199,003
234,100 214,836
Prepayments and accrued income 966 10,697
Creditors: amounts falling due within one year (59,259 ) (175,234 )
Net current assets (liabilities) 175,807 50,299
Total assets less current liabilities 175,807 50,299
Creditors: amounts falling due after more than one year (158,750 ) (30,000 )
Total net assets (liabilities) 17,057 20,299
Reserves 17,057 20,299

  • For the year ending 31 December 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 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 30 June 2017

And signed on their behalf by:
John Benington, Director
Gary Bandy, Director


Notes to the Micro-entity Accounts for the period ended 31 December 2016

1 Debtors
Debtors include the following amounts due after more than one year 0 0

The bulk of the debtors balance, £16,944 (£15,708 in 2015) is owed as Gift Aid by HMRC.

2 Accounting Policies

Basis of measurement and preparation of accounts
The Friends of Ibba Girls School is a registered charity and, for accounting purposes, it is a public benefit entity.
The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Charities Statement of Accounting and Reporting (SORP) 2015 (Financial Reporting Standard 102) and the Companies Act 2006.

Turnover policy
Recognition of incoming resources
Incoming resources are included in the Statement of Financial Activities (SoFA) when:
• the charity becomes entitled to the resources;
• the trustees are virtually certain they will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income
This is included in the accounts when receivable.
Restricted income funds
Restricted income funds are funds which are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding. The aims and uses of each restricted fund are set out in the notes to the financial statements. The value of restricted funds is small compared to the total income and often held only for a short time before being expended. Trustees have not sought to apportion the interest earned on cash balances and bank fees paid across all the restricted funds on the grounds of materiality.

Tangible assets depreciation policy
The charity has no tangible assets and therefore no associated depreciation policy.

Intangible assets amortisation policy
The charity has no intangible assets and therefore no associated amortisation policy.

Other accounting policies
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance costs
Governance costs include the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources
Currency conversion
The charity makes overseas payments to IGBS and some suppliers in US dollars. Expenditure in US dollars has been converted to sterling based on an average rate of conversion prior to the date the expenditure was incurred. Holdings in US dollars at 31 December 2014 have been converted to sterling at the rate of GBP1 = USD 1.5578.
Going concern
The Trustees have prepared the accounts on the going concern basis as they are confident that there will be sufficient funds available to meet their commitments to repay the loans in accordance with the terms agreed with the loan providers.

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