Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueLangley Business Systems Limited012022962014-12-31990096921015992096923015200020009920969230151469482032334459967989282809479418810486369987061221584939158717091169994015166346757789697736912348857472324885747232Basis 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 year, exclusive of Value Added Tax.
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.
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 pensions scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
Deferred taxation
Deferred taxation is provided using the liability method in respect of the taxation effect on all timing differences other than those which are expected with reasonable probability to continue in the foreseeable future.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & Machinery4 years0.0000Fixtures & Fittings7 years0.0000Motor Vehicles4 years0.0000
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.
25232522482727498203468177595258732523252248272749820346817759525873Ordinary2000120002000Ordinary1200020002000The director made loans to the company during the year. The loans were interest free. The balance outstanding as at 31st December 2014 was £243,411 (2013 £259,183)Balance sheet Spare note 99 (user defined)CONTROLLING PARTY
E.J. Shelley controls the company as a result of controlling directly 100% of the issued share capital.2015-05-20Mr E.J. Shelleytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureLangley Business Systems Limited2014-01-012014-12-31Langley Business Systems Limited2013-01-012013-12-31Langley Business Systems Limited2012-12-31Langley Business Systems Limited2013-12-31Langley Business Systems Limited2013-12-31Langley Business Systems Limited2014-12-31 2015-06-08
