| Notes to the 10. DEFERRED TAX ASSET At beginning of year/period (Charge for)/released during year/period At end of year/period The deferred tax asset is made up as follows: Timing differences 11. COMPANY STATUS
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 should the company be wound up. At 31 March 2011, the total of such guarantees amounted to £6 (2010: £6).
12.RESERVES
Income and expenditure account £
At 1 April 2010 Deficit for the year At 31 March 2011 1,142,895 (8,668) 1,134,227
Financial Statementscontinued 2011 534,584 (71,741) 462,843 2011 462,843 2010 ££ 480,790 53,794 534,584 2010 ££ 534,584
13. RECONCILIATION OF MOVEMENT IN RESERVES Opening reserves Deficit for the year/period Closing reserves
2011
2010 ££ 1,142,895 2,474,990 (8,668) (1,332,095) 1,134,227 1,142,895
16 Annual Report 2010-2011
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