The Fund Revisited - a new analysis from Enid O'Dowd

by Liz Eagles 05.02.16 10:04

With thanks to Enid O'Dowd and to tigger. Taken from tigger's blog - see link for details.

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Guest Enid O'Dowd has revised and extended her analysis of the Fund accounts. This is a much-needed review - many thanks to Enid O'Dowd

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The Setting up of the Fund Revisited

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by Amy Dean 05.02.16 11:14

I wonder if it was Pam Gurney who complained to Mrs O'Dowd's professional body - probably hoping that she would be disbarred for her report!

Great to see that the ICEAW didn't bow down to such silliness.

by Guest 05.02.16 13:14

Madeleines Fund: Leaving No Stone Unturned Limited

Abbreviated Financial Statements - For the year ended 31 March 2015

I quote..

The abbreviated accounts which have been prepared in accordance with the special provisions relating to companies subject to the samll companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 18 December 2015.

Michael Linnett
Director
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Opinion on financial statements

In our opinion the company is entitled to deliver abbreviated accounts prepared in accordance with section 444(3) of the Companies Act 2006, and the abbreviated accounts on pages 3 to 4 have been

properly prepared in accordance with the regulations made under that section.

Bernie Watson (Senior Statutory Auditor) for and on behalf of haysmacintyre
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Or to be more precise..

NOTES TO THE ABBREVIATED FNANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

1. Accounting Policies

Basis of preparation of financial statements

The financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Cash flow

The financial statements do not include a Cash Flow Statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

Income

Income comprises donations received by the company along with revenue recognised in respect of merchandise supplied, exclusive of VAT.

[Snipped from Companies House document]

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A few unturned stones there I think. Just like the FOI system, transparency within the confines of the law?