true
Flexal Springs UK Limited
05325736
2015-03-31
181962
137063
281972
237073
110
110
99900
99900
281972
237073
8940
0
9984
2084
300896
239157
140299
89058
139870
164451
280169
253509
170417
178109
59350
57350
50402
18050
160597
150099
92500
101750
68097
48349
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).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Goodwill
Goodwill arose on the purchase of the trade from an incorporated business in 2005 and is being amortised over 20 years. In the opinion of the directors, this represents a prudent estimate of the period over which the company will derive economic benefit from the products acquired as part of that business.
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-over 20 years
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
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.
Plant & Machinery
Reducing balance
0.2000
Fixtures & Fittings
Reducing balance
0.2000
Motor Vehicles
Reducing balance
0.2500
Equipment
Reducing balance
0.2000
Leasehold Property
Over period of lease
0.0000
185000
185000
92500
83250
9250
211837
174003
37834
143740
125654
18086
396837
359003
37834
236240
208904
27336
Ordinary
100
1
100
100
Ordinary Class B
10
2
20
20
Ordinary
1
100
100
100
Ordinary Class B
2
10
10
5
2015-12-08
Mr G S C De Silva
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Flexal Springs UK Limited
2014-04-01
2015-03-31
Flexal Springs UK Limited
2013-04-01
2014-03-31
Flexal Springs UK Limited
2013-03-31
Flexal Springs UK Limited
2014-03-31
Flexal Springs UK Limited
2014-03-31
Flexal Springs UK Limited
2015-03-31
2015-12-11