true
GRETA COTTAGE LIMITED
03835882
2014-11-30
785246
635098
785248
635100
2
2
785248
635100
59601
56919
391667
469830
1236516
1161849
47026
-66702
181882
121622
228908
54920
37080
12131
800
400
191028
42389
1189490
1228551
12706
15381
1176784
1213170
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
40794
38119
2675
1796342
1751003
51039
-5700
619558
537833
85622
-3897
1849842
1804503
51039
-5700
660352
575952
-3897
88297
391667
469830
74522
108585
The directors' main residence also provides security on the bank loans.
Ordinary
100
1
100
100
Ordinary
1
2
2
2
2015-08-20
Mrs H Garcia
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
GRETA COTTAGE LIMITED
2013-12-01
2014-11-30
GRETA COTTAGE LIMITED
2012-12-01
2013-11-30
GRETA COTTAGE LIMITED
2012-11-30
GRETA COTTAGE LIMITED
2013-11-30
GRETA COTTAGE LIMITED
2013-11-30
GRETA COTTAGE LIMITED
2014-11-30
2015-08-21