Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueRSVP Design LimitedSC2539812014-12-311191413912014239100100120142393439015453239-2652-4515842506174081598572255229333748260112130032942177181054754181054754Basis 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. In respect of long term contracts for ongoing 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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 directors consider 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.
Fixtures & FittingsMethod for Fixtures & fittings0.0000
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.
251111010615005700653521654251111010615005700653521654Ordinary1001100100Ordinary1100100100Balance sheet Spare note 21 (user defined)LOANS TO DIRECTORS
As at 31 December 2014 Mr G Cook, a director, owed the company £7,500 (2013 - £Nil). No interest is charged on this unsecured loan and there are no fixed terms of repayment.2015-09-14Mr G Cooktruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureRSVP Design Limited2014-01-012014-12-31RSVP Design Limited2013-01-012013-12-31RSVP Design Limited2012-12-31RSVP Design Limited2013-12-31RSVP Design Limited2013-12-31RSVP Design Limited2014-12-31 2015-09-18
