Accounts filed on 30-06-2014
Accounts filed on 30-06-2014
trueKM IT SOLUTIONS LIMITED072295522014-06-30129658916081298589180820020012985891808225280130083920881289599068943000339411719591246302871930250143240943801124139911241399Basis 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).
Revenue Recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Sales of services are recognised when the risks and rewards of ownership are transferred to the customer, the sale price agreed and the receipt of payment can be assured.
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences
between the treatment of certain items for taxation and accounting purposes. In general, deferred
taxation is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date. However, deferred tax assets are recognised only to the extent that the
directors consider it is more likely than not that they will be recovered against the reversal of
deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a
non-discounted basis at the average tax rates that would apply when the timimg differences are
expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.EquipmentMethod for Equipment0.0000222821281001104729375222821281001104729375Ordinary1001100100Ordinary A shares1001100100Ordinary1100100100Ordinary A shares11001001002015-02-05Mr K Mistrytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureKM IT SOLUTIONS LIMITED2013-07-012014-06-30KM IT SOLUTIONS LIMITED2012-07-012013-06-30KM IT SOLUTIONS LIMITED2012-06-30KM IT SOLUTIONS LIMITED2013-06-30KM IT SOLUTIONS LIMITED2013-06-30KM IT SOLUTIONS LIMITED2014-06-30 2015-02-05
