Accounts filed on 31-12-2014

trueApreco Limited033177572014-12-3131006432036131594632624358825882315946326243220360831814932685127991128578016143832864244134961442215815729725710441410195017877821521538238410712316932582150698489Basis 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, which is attributable to one continuing activity, represents amounts invoiced, excluding value added tax, in respect of the sale of goods and services. 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, calculated by reference to the stage of completion. Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Patents & trademarks -period of the grant or estimated life Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. Finance lease agreements Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments. 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. Pension costs The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. 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. Plant & Machineryon Cost0.2000Fixtures & Fittingson Cost0.2000Motor Vehicleson Cost0.2000Equipmenton Cost0.3300 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 3156750892-19325839818310-1250025888635370071162827128461582970211792012096316282-193257968279892-1250012290Richard Gatley and his wife Victoria Gatley, both former directors of the company, hold a joint first fixed charge over: All freehold and leasehold properties (whether registered or unregistered) and all commonhold properties, now or in the future (and from time to time) owned by the company or in which the company holds an interest ("Properties") All present and future interests of the company not effectively mortgaged or charged under 1 above in or over freehold or leasehold property. All present and future rights, licenses, guarantees, rents, deposits, contracts, covenants and warranties relating to the properties. All licenses, consents and authorisations, statutory or otherwise held or required in connection with the company's business or the use of any of the assets, property and undertaking for the time being subject to the security interests created by this debenture and all rights in connection with them. All present and future goodwill and uncalled capital for the time being of the company. All present and future equipment, plant, machinery, tools, vehicles, furniture, fittings, installations and apparatus and other tangible moveable property for the time being owned by the company, including any part of it and all spare parts, replacements, modifications and additions. Ordinary15882588258822015-05-11M. Hodgestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureApreco Limited2013-08-012014-12-31Apreco Limited2012-08-012013-07-31Apreco Limited2012-07-31Apreco Limited2013-07-31Apreco Limited2013-07-31Apreco Limited2014-12-31 2015-06-04