## **Buckland Old School Trust** 

## **Charity No 1069992** 

## 1 **Accounting Policies** 

Bases of Preparation of Accounts 

The accounts are prepared on the receipts and payments basis and include the results of the charity’s operations which are described by the Trustees’ report, all of which are continuing. 

The charity has taken advantage of the exemption in financial reporting standard number 1, from the requirement to produce a cash flow statement on the grounds that it qualifies as a small charity. 

Income 

All income is accounted for as received by the charity. The income is shown gross, with the associated costs included in the expenses, except for items where the charity receives money for re-imbursement for costs expended. Income coming from under these headings is deducted from the expenditure to which it relates. 

Value Added Tax 

VAT is not recoverable by the charity and as such is included in the relevant costs in the receipt and payments account. 

Study Grants Restricted income and Expenditure 

The charity restricted revenue has been expended properly throughout the year. 

Richard Peel 

Date 19/05/2026 

Chairperson 

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