Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
truePeter Barlow Photography Limited048364462014-12-31-85036-86781-84986-867315050-84986-86731-84986-86731-98792-10151210808511167692931016448564074110011503337494013806147811380614781Basis 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.
GoodwillPositive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is amortised over the revised estimate of remaining useful economic life.Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-6 years straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Fixed Assets
All fixed assets are initially recorded at cost.
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.Plant & Machineryreducing balance0.2000Fixtures & Fittingsreducing balance0.2000Computer Equipmentstraight line0.250030000300003000030000718486913627125804254355368710184899136271288042843553687Ordinary shares5015050Ordinary shares15050502015-09-29Mrs M Barlowtruetruetruetruexbrli:sharesiso4217:GBPxbrli:purePeter Barlow Photography Limited2014-01-012014-12-31Peter Barlow Photography Limited2013-01-012013-12-31Peter Barlow Photography Limited2012-12-31Peter Barlow Photography Limited2013-12-31Peter Barlow Photography Limited2013-12-31Peter Barlow Photography Limited2014-12-31 2015-09-30
