true
Langley Gates & Railings Limited
06786656
2016-01-31
15650
69
15750
169
100
100
15750
169
17065
0
32815
169
-30625
-41138
70438
72477
39813
31339
10218
2565
28374
20156
1221
8618
63440
41307
18850
20300
44590
21007
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.
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-5% Straight Line
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.
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.
Motor Vehicles
Reducing Balance
0.2500
Equipment
Reducing Balance
0.2500
29000
29000
10150
8700
1450
85108
50159
42944
-7995
40518
29152
14864
-3498
114108
79159
42944
-7995
50668
37852
-3498
16314
Ordinary
1000
1
1000
1000
Ordinary
1
100
100
100
2016-04-01
Mr P Spencer
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Langley Gates & Railings Limited
2015-02-01
2016-01-31
Langley Gates & Railings Limited
2014-02-01
2015-01-31
Langley Gates & Railings Limited
2014-01-31
Langley Gates & Railings Limited
2015-01-31
Langley Gates & Railings Limited
2015-01-31
Langley Gates & Railings Limited
2016-01-31
2016-04-01