V4 SORP 2000 Update 1 Note 21 Changes in resources for fixed assets
Note 21 - funds freely available after asset acquisition
This bulletin ONLY applies to Version 4 SORP 2000 of the VT Charity templates.
The following error has been observed on the UNINCORPORATED templates only. It was corrected on 02/08/05 and corrected templates may be downloaded in the usual way, using the download link. The templates concerned are indexam2.xlt and unincaud2.xlt
On Note 21 in the templates, showing 'Changes in resources for fixed assets', the cost of disposals are added to instead of being deducted from acquisitions.
The corrected templates deal with this correctly, but a manual alteration to the data is required if the updated templates have not been downloaded. This is done by simply altering the formula in the row with the text
'Resources applied on Fixed Assets for charitable use' in columns G and I.
This disclosure requirement is not required by SORP 2005