| Ravenhill Trading Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
(130,800) |
|
(130,800) |
|
Other creditors |
1,160,086 |
|
1,160,086 |
|
|
|
|
|
|
1,029,286 |
|
1,029,286 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Other information |
|
|
Ravenhill Trading Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
14 Gresham Street |
|
Belfast |
|
BT1 1JN |
