Accounts filed on 30-06-2014
Accounts filed on 30-06-2014
trueK S Manders International Transport LtdSC2333592014-06-30-4858-5423-4857-542211-4857-542219512251001465519678-794049172914715379212072029620025684511821345122595147612259514761Basis 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).
The company had a net assets deficit of £4,857 as at 30 June 2014 (2013 - £5,422). The director is confident of the future profitability of the company and on this basis it is considered appropriate to prepare the financial statements on a going concern basis.
Turnover
The turnover shown in the profit and loss account represents the invoiced value of services provided during the period, stated net of value added tax. Service revenues are recognised as those services are provided to customers.
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.
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.Plant & MachineryReducing balance0.2500Motor VehiclesReducing balance0.1500Office EquipmentReducing balance0.25005667546442102333408031681239956675464421023334080316812399195122510008100Ordinary1001100100Ordinary1111The director owed the company £12,527 as at 30 June 2014 (2013 - £3,167). The maximum loan which was outstanding during the year was £13,037 (2013 - £13,253). No interest was charged on this loan. During the year the company made advances of £20,064 (2013 - £17,791) to the director and the director repaid £10,704 (2013 - £21,376).
The director charges the company for business use of his home as an office. During the year the director charged the company £312 for this purpose (2013 - £312).
The company's bank loan is secured by personal guarantee of the director.2015-03-23Mr K Manderstruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureK S Manders International Transport Ltd2013-07-012014-06-30K S Manders International Transport Ltd2012-07-012013-06-30K S Manders International Transport Ltd2012-06-30K S Manders International Transport Ltd2013-06-30K S Manders International Transport Ltd2013-06-30K S Manders International Transport Ltd2014-06-30 2015-03-30
