Registered Number 07572623
07572623 LTD
Abbreviated Accounts
31 March 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
Tangible assets depreciation policy
write off each asset over its estimated useful life. Freehold buildings 2% on cost or revalued amounts, Plant and Machinery 15% on cost, Fixtures and fittings 10% on cost, Motor vehicles 25% on cost.
Intangible assets amortisation policy
the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Valuation information and policy
are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Other accounting policies
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element
of these obligations is charged to the profit and loss account over the relevant period. The capital element of the
future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss
account on a straight line basis over the period of the lease. Research and Development Expenditure on research
and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect
of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.
£ | |
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Cost | |
At 1 April 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2015 |
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Depreciation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
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At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 1,200 |
At 31 March 2014 | 1,600 |