true
Scott Sport NI Ltd
NI611925
2015-09-30
-99830
-28413
-81095
-9678
100
100
18635
18635
-81095
-9678
10800
158000
-70295
148322
-94146
133884
113523
24779
19377
158663
7150
563
10800
158000
1427
100
23851
14438
11000
0
12851
14438
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Intangible Assets
Intangible assets acquired separately from a business are capitalised at cost. Intangible assets
acquired as part of an acquisition of a business are capitalised separately from goodwill if the fair
value can be measured reliably on initial recognition, subject to the constraint that, unless the asset
has a readily ascertainable market value, the fair value is limited to an amount that does not create or
increase any negative goodwill arising on the acquisition. Intangible assets, excluding development costs,
created within the business are not capitalised and expenditure is charged against profits in the year in
which it is incurred.
Intangible assets are amortised on a straight line basis over their estimated useful lives up to a maximum
of 20 years. The carrying value of intangible assets is reviewed for impairment at the end of the first full
year following acquisition and in other periods if events or changes in circumstances indicate the carrying
value may not be recoverable.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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.
Compound instruments
Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.
The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.
The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Plant & Machinery
Straight Line
0.0500
Fixtures & Fittings
Reducing Balance
0.1500
11000
0
11000
16251
16251
3400
1813
1587
27251
16251
11000
3400
1813
1587
Ordinary
100
1
100
100
Ordinary
1
100
100
100
2016-06-22
E Scott
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Scott Sport NI Ltd
2014-10-01
2015-09-30
Scott Sport NI Ltd
2013-10-01
2014-09-30
Scott Sport NI Ltd
2013-09-30
Scott Sport NI Ltd
2014-09-30
Scott Sport NI Ltd
2014-09-30
Scott Sport NI Ltd
2015-09-30
2016-06-30