Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueLee Service Centre Limited05679980706 9623 212015-03-3114060470714160480710010014160480714160480714160575107285503024888556051174813567094613140410920423204232Basis 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 period, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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.
Deferred taxation
Provision is made, under the liability method, to take account of timing differences between the
treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
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.
Motor VehiclesReducing balance0.2500EquipmentReducing balance0.2500019939-199390157071192-16899019939-19939015707-168991192Ordinary1001100100Ordinary11001001002015-04-24Mr W P Leotruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureLee Service Centre Limited2014-02-012015-03-31Lee Service Centre Limited2013-02-012014-01-31Lee Service Centre Limited2013-01-31Lee Service Centre Limited2014-01-31Lee Service Centre Limited2014-01-31Lee Service Centre Limited2015-03-31 2015-04-24
