Accounts filed on 31-03-2015

trueLoben LimitedSC2999832015-03-31-26025-31902-26024-3190111-26024-31901-26024-31901-26024-3190131850319015826057430830Basis 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). At the balance sheet date the company had liabilities in excess of its total assets. The directors have indicated that they will continue to support the company; and for this reason the company continues to prepare its accounts on a going concern basis. Turnover The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of property sales and pilot 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. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Depreciation No depreciation has been charged on freehold property as the director is of the opinion that the property will appreciate rather than depreciate in value. 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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Equipmenton cost0.250020242024202420242024202420242024Ordinary1001100100Ordinary11112015-07-13Mr G B A Santostruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureLoben Limited2014-04-012015-03-31Loben Limited2013-04-012014-03-31Loben Limited2013-03-31Loben Limited2014-03-31Loben Limited2014-03-31Loben Limited2015-03-31 2015-07-17