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Dave Addicott Engineering Limited
05502818
2016-09-30
138923
119120
138924
119121
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119121
138924
119121
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84969
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
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.
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-10 years straight line basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
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.
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.
Plant & Machinery
reducing balance basis
0.1000
Equipment
reducing balance basis
0.1500
Leasehold Property
straight line basis
0.0500
12765
12765
12765
12765
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148640
2688
71588
63671
7917
164093
161405
2688
84353
76436
7917
Ordinary
10000
1
10000
10000
Ordinary
1
1
1
1
2017-06-21
Mr D R Addicott
Mrs E M Addicott
Director
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Dave Addicott Engineering Limited
2015-10-01
2016-09-30
Dave Addicott Engineering Limited
2014-10-01
2015-09-30
Dave Addicott Engineering Limited
2014-09-30
Dave Addicott Engineering Limited
2015-09-30
Dave Addicott Engineering Limited
2015-09-30
Dave Addicott Engineering Limited
2016-09-30
2017-06-23