Accounts filed on 31-07-2014
Accounts filed on 31-07-2014
trueGrange Moor Coachworks Ltd052933942014-07-3167689848926769184894226769184894807457167576590610301735620026747026588129764332208129683532143680864545592344104559234410Basis 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.
GoodwillPositive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful
life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful
ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the
constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount
at the date of revision is depreciated over the revised estimate of remaining useful economic life.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 directors consider 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.
Plant & MachineryMethod for Plant & equipment0.0000EquipmentMethod for Equipment0.000012468710571918968790957130977861246871057191896879095713097786Ordinary2122Ordinary12222014-09-15Mr NJ Hepworthtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGrange Moor Coachworks Ltd2014-01-012014-07-31Grange Moor Coachworks Ltd2013-01-012013-12-31Grange Moor Coachworks Ltd2012-12-31Grange Moor Coachworks Ltd2013-12-31Grange Moor Coachworks Ltd2013-12-31Grange Moor Coachworks Ltd2014-07-31 2015-05-21