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Europadisc Ltd
07552782
2015-04-30
6064
7042
6065
7043
1
1
6065
7043
6065
7043
-47587
-56693
71448
118143
23861
61450
1460
438
8989
14582
13412
46430
53652
63736
46800
54600
6852
9136
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).
The financial statements have been prepared on the going concern basis. At the balance sheet date the company has net current assets of £6,065 and current liabilities of £71,448, including directors loan accounts of £28,146. Business performance since the year end and confirmed orders received suggest that the company continues to be trading profitably after accounting book adjustments and is generating cash. However, it is dependent on the support of its directors. This support is expected to continue for the foreseeable future.
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 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.
Plant & Machinery
reducing balance
0.2500
Fixtures & Fittings
Method for Fixtures & fittings
0.0000
Office Equipment
reducing balance
0.0000
78000
78000
31200
23400
7800
21311
21311
14459
12175
2284
99311
99311
45659
35575
10084
Ordinary
100
1
100
100
Ordinary
1
1
1
1
2016-01-05
Mr R Cox
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Europadisc Ltd
2014-05-01
2015-04-30
Europadisc Ltd
2013-05-01
2014-04-30
Europadisc Ltd
2013-04-30
Europadisc Ltd
2014-04-30
Europadisc Ltd
2014-04-30
Europadisc Ltd
2015-04-30
2016-01-05