true
GRETA COTTAGE LIMITED
03835882
2015-11-30
1045580
785246
1045582
785248
2
2
1045582
785248
93531
59601
454180
391667
1593293
1236516
-322212
47026
415873
181882
93661
228908
35507
37080
800
800
57354
191028
1915505
1189490
10031
12706
1905474
1176784
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 April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-5% of original cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at 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.
Land & Buildings
reducing balance
0.0400
Fixtures & Fittings
reducing balance
0.1000
Motor Vehicle
reducing balance
0.2500
Equipment
reducing balance
0.2500
Conservatory
reducing balance
0.1000
Office Furniture - Cost Brought Forward
reducing balance
0.1500
53500
53500
43469
40794
2675
2647089
1796342
850747
741615
619558
122057
2700589
1849842
850747
785084
660352
124732
451601
391667
0
74522
The directors' main residence also provides security on the bank loans.
Ordinary
100
1
100
100
Ordinary
1
2
2
2
2016-03-31
Mrs H Garcia
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
GRETA COTTAGE LIMITED
2014-12-01
2015-11-30
GRETA COTTAGE LIMITED
2013-12-01
2014-11-30
GRETA COTTAGE LIMITED
2013-11-30
GRETA COTTAGE LIMITED
2014-11-30
GRETA COTTAGE LIMITED
2014-11-30
GRETA COTTAGE LIMITED
2015-11-30
2016-04-06