Accounts filed on 31-07-2014
Accounts filed on 31-07-2014
trueProcurement Courses Limited076940172014-07-31-31992-41413-27892-413134100100-27892-41313001700025000-10892-16313-11783-171872952517257177427084030933970891874891874Basis 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
Turnover represents the goods and services provided to customers during the year.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at 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 liabilitiesGoing concern
The accounts have been prepared on a going concern basis, as the director believes that the company will continue to meet it's financial liabilities as and when they fall due. Included within creditors are amounts owed to the directors, and the directors do not anticipate recalling these loans until the company is in a financial position to repay these monies.EquipmentReducing balance0.25001543126028365238626615431260283652386266Ordinary10100110100100Ordinary141001004100Ordinary £1 shares1400040004000On 16 January 2014, 4,000 ordinary £1 shares were issued at their par value for cash.
2015-04-29Dr D R Mortontruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureProcurement Courses Limited2013-08-012014-07-31Procurement Courses Limited2012-08-012013-07-31Procurement Courses Limited2012-07-31Procurement Courses Limited2013-07-31Procurement Courses Limited2013-07-31Procurement Courses Limited2014-07-31 2015-04-29
