Notes to the 9. CREDITORS: Amounts falling due within one year Social security and other taxes Other creditors Accruals and deferred income


Financial Statements continued


2012 4,356 2,057,735 12,435 2,074,526 2011 ££ 2,432 1,201,155 19,451 1,223,038


10.DEFERRED TAX ASSET At beginning of year Released/(charged for) during year At end of year The deferred tax asset ismade up as follows: Timing differences


2012 462,843 4,036 466,879 2012 466,879


2011 ££ 534,584 (71,741) 462,843 2011 ££ 462,843


11. COMPANY STATUS The company is a private company limited by guarantee and consequently does not have share capital. Each of themembers is liable to contribute an amount not exceeding £1 should the company be wound up. At 31March 2012, the total of such guarantees amounted to £6 (2011: £6).


12.RESERVES


Income and expenditure account £


At 1 April 2011 Deficit for the year At 31March 2012 1,134,227 (182,493) 951,734


16 Annual Report 2011-2012


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