true
Great British Yarns Ltd
07145363
2015-03-31
-32380
-24388
-32378
-24386
2
2
-32378
-24386
-32378
-24386
-34353
-25170
76200
81531
41847
56361
728
2156
37720
44295
3399
9910
1975
784
1975
784
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.
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-25% 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.
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 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.
Equipment
Method for Equipment
0.0000
Website
Method for Fixed asset 7
0.0000
0
10000
0
10000
7593
5044
2549
5618
4260
1358
7593
15044
2549
5618
14260
1358
Ordinary
2
1
2
2
Ordinary
1
2
2
2
2015-07-13
Mr I Spencer & Mrs S Spencer
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Great British Yarns Ltd
2014-04-01
2015-03-31
Great British Yarns Ltd
2013-04-01
2014-03-31
Great British Yarns Ltd
2013-03-31
Great British Yarns Ltd
2014-03-31
Great British Yarns Ltd
2014-03-31
Great British Yarns Ltd
2015-03-31
2015-08-03