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Ruddicks Newsagents Limited
05561532
2016-01-31
-37471
1235
-37351
1355
120
120
-37351
1355
0
6916
66020
77782
28669
86053
-25609
-56846
82745
93735
57136
36889
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142899
0
86900
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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 January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Goodwill
Due to the ongoing changes to the Post Office and the new contract signed in December 2015 the Directors have taken the decision to amortise the good will fully in these accounts.
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-fully amortised
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
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:
Deferred tax assets are recognised only to the extent that the directors consider 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 a discounted 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 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.
Plant & Machinery
reducing balance
0.2000
Fixtures & Fittings
reducing balance
0.2000
Leasehold Property
straight line
0.0100
158000
158000
158000
71100
86900
74291
74291
20013
18292
1721
232291
232291
178013
89392
88621
The directors have given personal guarantees to the bank to secure the loan funding. The guarantees are secured on the private residence of Mrs L A Ruddick.
Ordinary
100
1
100
100
Ordinary Class A
9
1
9
9
Ordinary Class B
9
1
9
9
Ordinary Class C
2
1
2
2
Ordinary
1
100
100
100
Ordinary Class A
1
9
9
9
Ordinary Class B
1
9
9
9
Ordinary Class C
1
2
2
2
2016-02-26
Mrs L A Ruddick
Mrs L E Ruddick
Director
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true
true
true
xbrli:shares
iso4217:GBP
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Ruddicks Newsagents Limited
2015-02-01
2016-01-31
Ruddicks Newsagents Limited
2014-02-01
2015-01-31
Ruddicks Newsagents Limited
2014-01-31
Ruddicks Newsagents Limited
2015-01-31
Ruddicks Newsagents Limited
2015-01-31
Ruddicks Newsagents Limited
2016-01-31
2016-10-20