Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueLargo Plant Services Limited052428472015-03-31538209506830538311506930102100538311506930117861097055009751790049116346304739464640581488580986886125955925688118986814262643638246935458934548535893454853Basis 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.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
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.
Deferred tax is measured on a discounted/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.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & MachineryReducing balance basis0.1500Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesReducing balance basis0.250013544212920629097-22861765087435317782-1562713544212920629097-228617650874353-1562717782Ordinary A1001100100Ordinary B2120Ordinary A1100100100Ordinary B1222015-10-20Mr A J Goochtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureLargo Plant Services Limited2014-04-012015-03-31Largo Plant Services Limited2013-04-012014-03-31Largo Plant Services Limited2013-03-31Largo Plant Services Limited2014-03-31Largo Plant Services Limited2014-03-31Largo Plant Services Limited2015-03-31 2015-11-26
