Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueF.T. Technologies Limited016039092014-12-312676503262248128475032793481171000171000284750327934812847503279348128475032793481349452743771363420303231194235311427221493988916509045Basis 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 is the total amount receivable by the company for goods supplied and services rendered, excluding VAT.
Research and development
Research and development expenditure is written off in the year in which it is incurred.
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.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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.
Development expenditure of £275,135 in respect of upgrading and development of the second generation of an anemometer, has been capitalised, to be written off over the first 7,500 units. The expectation is that 7,500 units shall be sold by June 2007. The first sales of the second generation of an anemometer took place in July 2002. Development expenditure of £275,135 in respect of upgrading and development of the second generation of an anemometer, has been capitalised, to be written off over the first 7,500 units. The expectation is that 7,500 units shall be sold by June 2007. The first sales of the second generation of an anemometer took place in July 2002.
Ordinary5000001500000500000Ordinary11710001710001710002015-09-16Dr S Kapartis-Executive Chairmantruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureF.T. Technologies Limited2014-01-012014-12-31F.T. Technologies Limited2013-01-012013-12-31F.T. Technologies Limited2012-12-31F.T. Technologies Limited2013-12-31F.T. Technologies Limited2013-12-31F.T. Technologies Limited2014-12-31 2015-09-17
