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Paul Thomas Engineering Ltd
06117290
2016-03-31
7469
10544
7470
10545
1
1
7470
10545
3152
0
14670
0
25292
10545
-937
-3609
13664
13579
12727
9970
2866
2107
9861
7863
26229
14154
10000
12500
16229
1654
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.
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
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
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 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
on a reducing balance
0.2500
Motor Vehicles
on a reducing balance
0.2500
Equipment
on a reducing balance
0.2500
25000
25000
15000
12500
2500
40005
20021
21180
-1196
23776
18367
5409
65005
45021
21180
-1196
38776
30867
7909
Ordinary
1
1
1
1
Ordinary
1
1
1
1
Dividends paid to the director during the year were £33,000 (LY £33,000).
Balance sheet Spare note 99 (user defined)
DIRECTORS LOAN ACCOUNT
Movements on the Directors Loan account are as follows:-
2016-07-25
P R Thomas
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Paul Thomas Engineering Ltd
2015-04-01
2016-03-31
Paul Thomas Engineering Ltd
2014-04-01
2015-03-31
Paul Thomas Engineering Ltd
2014-03-31
Paul Thomas Engineering Ltd
2015-03-31
Paul Thomas Engineering Ltd
2015-03-31
Paul Thomas Engineering Ltd
2016-03-31
2016-07-26