Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueR.S. Engineering (Burnley) Limited043469542015-03-3163318765462963418765562910001000634187655629913211561643319667190544302554881112795132024657097686905387902369737428504235022634527481899017112309240002800063017723091200012000Basis 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 the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.
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-5%/10% per annum straight line
Depreciation
Included within office equipment is expenditure on computer equipment which is depreciated at a rate of 20% per annum on a straight line basis. 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.
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & Machinerypker annum straight line0.2000Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor Vehiclesper annum straight line0.250019000019000016600016200040003549273492105717291910276901150091200012000556927551210571745791043890119009Ordinary1000110001000Ordinary11000100010002015-11-24A.C. Ralphtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureR.S. Engineering (Burnley) Limited2014-04-012015-03-31R.S. Engineering (Burnley) Limited2013-04-012014-03-31R.S. Engineering (Burnley) Limited2013-03-31R.S. Engineering (Burnley) Limited2014-03-31R.S. Engineering (Burnley) Limited2014-03-31R.S. Engineering (Burnley) Limited2015-03-31 2015-12-02
