Accounts filed on 30-09-2015
Accounts filed on 30-09-2015
trueReid For Speed LimitedSC0946252015-09-301719917155519417499171585194300003000017499171585194174991715851941741898157333749429947606522361972049402372258359935423363420931615107458199825469810337801911857801911857Basis 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.
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. The assets of the scheme
are held separately from those of the company in an independently administered fund.
Contributions to the defined contribution pension scheme are charged to the Profit and
Loss Account in the year in which they become payable.
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 & MachineryStraight line0.1500Fixtures & FittingsStraight line0.2500Motor VehiclesStraight line0.25001430381404282610135019128571644814303814042826101350191285716448Ordinary5000015000050000Ordinary13000030000300002015-11-09Mr N H J Dauntruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureReid For Speed Limited2014-10-012015-09-30Reid For Speed Limited2013-10-012014-09-30Reid For Speed Limited2013-09-30Reid For Speed Limited2014-09-30Reid For Speed Limited2014-09-30Reid For Speed Limited2015-09-30 2015-11-09
