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Oliver Penney Engineering Limited
08454740
2016-03-31
29422
6730
29622
6930
200
200
29622
6930
29622
6930
29427
6638
17158
3097
46585
9735
25525
6054
4500
500
16560
3181
195
292
195
292
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
Turnover represents amounts due for engineering services provided during the year.
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
Straight line
0.2500
389
389
194
97
97
389
389
194
97
97
Ordinary
10000
1
10000
10000
Ordinary
1
200
200
200
2016-12-23
OCJ Penney
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Oliver Penney Engineering Limited
2015-04-01
2016-03-31
Oliver Penney Engineering Limited
2014-04-01
2015-03-31
Oliver Penney Engineering Limited
2014-03-31
Oliver Penney Engineering Limited
2015-03-31
Oliver Penney Engineering Limited
2015-03-31
Oliver Penney Engineering Limited
2016-03-31
2016-12-23