Registered number
04590842
Registered charity number
1099103
THE PEACE ALLIANCE
(A Company Limited by Guarantee)
Accounts for the year ended
31 March 2024
THE PEACE ALLIANCE
Registered number: 04590842
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 135 198
Current assets
Cash at bank and in hand 26,577 6,826
Creditors: amounts falling due within one year 4 (1,182) (942)
Net current assets 25,395 5,884
Net assets 25,530 6,082
Capital and reserves
Profit and loss account 25,530 6,082
Shareholder's funds 25,530 6,082
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rev A O Ashaye
Director
Approved by the board on 21 December 2024
THE PEACE ALLIANCE
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UIK and Republic of Ireland (FRS 102) and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
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 grant , donations and gifts is and is included in the full 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. Donated services and facilities are inclued at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable. Income from investments is included in the year in which it is 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. Costs of generating funds comprise the costs associated with attracting voluntary income. 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,.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, ther eis not taxation charge in these accounts.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 91,179 39,276 130,455
At 31 March 2024 91,179 39,276 130,455
Depreciation
At 1 April 2023 90,995 39,262 130,257
Charge for the year 59 4 63
At 31 March 2024 91,054 39,266 130,320
Net book value
At 31 March 2024 125 10 135
At 31 March 2023 184 14 198
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,182 942
5 Company limited by guarantee
The Peace Alliance is a company limited by guarantee and accordingly does not have a share capital.
6 Other information
THE PEACE ALLIANCE is a private company limited by guarantee and incorporated in England. Its registered office is:
The Dream Centre
Tottenham Town Hall
Town Hall Approach
London
N15 4RY
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