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KARSONS CLOTHING LIMITED
03123496
2016-03-31
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100742
127932
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268117
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23608
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Revenue consists of sale of goods through retail outlets excluding Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences
between the treatment of certain items for taxation and accounting purposes. In general, deferred
taxation is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date. However, deferred tax assets are recognised only to the extent that the
directors consider it is more likely than not that they will be recovered against the reversal of
deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a
non-discounted basis at the average tax rates that would apply when the timimg differences are
expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Fixtures & Fittings
25% per annum reducing balance
0.0000
Motor Vehicle
25% oer annum reducing balance
0.0000
Leasehold Property
Over the term of the lease
0.0000
506408
513733
9750
-17075
483539
490125
8781
-15367
506408
513733
9750
-17075
483539
490125
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Ordinary
50000
1
50000
50000
Ordinary
1
7001
7001
7001
2016-12-06
Mr M I Karim
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
KARSONS CLOTHING LIMITED
2015-04-01
2016-03-31
KARSONS CLOTHING LIMITED
2014-04-01
2015-03-31
KARSONS CLOTHING LIMITED
2014-03-31
KARSONS CLOTHING LIMITED
2015-03-31
KARSONS CLOTHING LIMITED
2015-03-31
KARSONS CLOTHING LIMITED
2016-03-31
2016-12-12