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Runteam Limited
04012093
2015-06-30
-7327
-5799
-7324
-5796
3
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-7324
-5796
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-5796
-7325
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341
1
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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).
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Tangible fixed assets and depreciation
Tangible fixed asset is stated at cost less depreciation. Depreciation is provided in accordance with the cost recovery method whereby depreciation is taken to the profit and loss account on the same basis as the income receivable in the accounting period.
Film asset - Cost brought forward
0.0000
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
24867687
24867687
24867686
24867686
24867687
24867687
24867686
24867686
Ordinary
100
1
100
100
Ordinary
1
3
3
3
The company was under the control of Mr T P Burrill during the current and previous years. Mr Burrill is the managing director and majority shareholder.
Balance sheet Spare note 20 (user defined)
COMMITMENTS UNDER FINANCE LEASE AGREEMENT
Future commitments under finance lease agreements are as follows:
The finance lease is matched by secured bank deposit such that the principal on deposit and the interest earned will be sufficient to cover the rental obligations on the finance lease until the end of the lease.
The deposit is only to be used to settle the finance lease liability and therefore it does not represent separate asset and liability. Consequently, it has been netted off with the finance lease creditor to show the net unmatched liability at the year-end.
Balance sheet Spare note 95 (user defined)
GOING CONCERN
The accounts are prepared on the going concern basis. The Director confirms he will continue to support the Company throughout the next 12 months.
2016-03-08
T P Burrill
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true
xbrli:shares
iso4217:GBP
xbrli:pure
Runteam Limited
2014-07-01
2015-06-30
Runteam Limited
2013-07-01
2014-06-30
Runteam Limited
2013-06-30
Runteam Limited
2014-06-30
Runteam Limited
2014-06-30
Runteam Limited
2015-06-30
2016-03-14