true
GTTS 2012 Ltd
08053275
2016-05-31
10096
-5079
10196
-4979
100
100
10196
-4979
13709
0
23905
-4979
-1290
-7081
46790
37235
45500
30154
43494
27918
2006
2236
25195
2102
500
1000
24695
1102
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).
Changes in accounting policies
In preparing the financial statements for the current year, the company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015).
The adoption of the Financial Reporting Standard for Smaller Entities (effective January 2015) has had no effect on the results for the current period.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Goodwill
The goodwill arose on the purchase of a company in 2012. This is being written off over its estimated useful economic life of 5 years.
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 years
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 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.
Equipment
straight line
0.2000
Caravan
Straight line
0.0500
2500
2500
2000
1500
500
26807
1629
25178
2112
527
1585
29307
4129
25178
4112
2027
2085
Ordinary
1
100
100
100
At the year-end the directors owed the company £18,220 (2015: £16 creditor). This loan has interest charged at 3% and is disclosed within debtors.
2017-02-28
T C Hopkins
A M Hopkins
Director
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
GTTS 2012 Ltd
2015-06-01
2016-05-31
GTTS 2012 Ltd
2014-06-01
2015-05-31
GTTS 2012 Ltd
2014-05-31
GTTS 2012 Ltd
2015-05-31
GTTS 2012 Ltd
2015-05-31
GTTS 2012 Ltd
2016-05-31
2017-02-28