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Wilson Son & Daughters Limited
06300744
2015-07-31
17055
7590
17155
7690
100
100
17155
7690
0
1463
17155
9153
-10883
-20997
31743
40938
20860
19941
18984
16758
1200
1400
676
1783
28038
30150
12000
12000
16038
18150
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, exclusive of Value Added Tax.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful
life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful
ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the
constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount
at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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.
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.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Compound instruments
Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.
The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.
The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Plant & Machinery
Method for Plant & equipment
0.0000
Motor Vehicles
Method for Motor vehicles
0.0000
Equipment
Method for Equipment
0.0000
12000
12000
31370
29651
1719
15332
11501
3831
43370
41651
1719
15332
11501
3831
Ordinary
1000
1
1000
1000
Ordinary
1
100
100
100
2016-04-14
Mr E F Wilson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Wilson Son & Daughters Limited
2014-08-01
2015-07-31
Wilson Son & Daughters Limited
2013-08-01
2014-07-31
Wilson Son & Daughters Limited
2013-07-31
Wilson Son & Daughters Limited
2014-07-31
Wilson Son & Daughters Limited
2014-07-31
Wilson Son & Daughters Limited
2015-07-31
2016-04-14