Accounts filed on 30-11-2014
Accounts filed on 30-11-2014
truePATARA CONSULTING LTD083015652014-11-30608945049760895504981160895504986089550498605755049830387214989096271996036161486998748146496232003200Basis 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).
The principal activity of the company is exposed to inherent uncertainties and global market fluctuations beyond the control of the management of the company. The company meets its working capital requirements from its day to day activities in this market place and the director considers that the company will continue to operate on this basis and that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a downturn in the market in which it operates.
The company has taken advantage of the exemption in Financial Reporting Standard number 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Work in progress
Work in progress is valued at the lower of cost and net realisable value. Long term work in progress on service contracts extending beyond one accounting period is valued at net realisable value only where the right to consideration arises during the accounting period.
Fixed Assets
All fixed assets are initially recorded at cost.
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