Trish Burrow ELT Ltd
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Notes to the Accounts |
for the year ended 31 March 2017
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1 |
Accounting policies |
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Basis of preparation |
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These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
25% reducing balance |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 April 2016 |
999 |
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At 31 March 2017 |
999 |
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Depreciation |
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At 1 April 2016 |
250 |
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Charge for the year |
187 |
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At 31 March 2017 |
437 |
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Net book value |
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At 31 March 2017 |
562 |
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At 31 March 2016 |
749 |
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3 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Trade debtors |
3,147 |
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2,435 |
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4 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Corporation tax |
3,326 |
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2,014 |
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Other taxes and social security costs |
1,170 |
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636 |
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Other creditors and accruals |
3,249 |
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2,346 |
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7,745 |
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4,996 |
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5 |
Other information |
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Trish Burrow ELT Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite C, 1st Floor, Hinksey Court |
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West Way |
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Botley |
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Oxford |
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OX2 9JU |