Accounts filed on 31-12-2013
Accounts filed on 31-12-2013
trueFastsigns (Leeds) Limited046097852013-12-3194617802139561781213100010009561781213857299852052642188124715133386-182747-2079433566413670311738941590881080071208982061618888452711930230746234132921000022500097462116329Basis 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
ecomonic 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 depreciated 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-Over 20 years
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
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.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & Machineryreducing balance0.2500Fixtures & Fittingsreducing balance0.1500Motor Vehiclesreducing balance0.2500Equipmentstraight line0.2500300000300000900007500015000401885390026118593044232736973072670188569002611859394423348697457262052642188'A' Ordinary4001400400'B' Ordinary4001400400'C' Ordinary2001200200'D' Ordinary1001100100'A' Ordinary1400400400'B' Ordinary1300300300'C' Ordinary1200200200'D' Ordinary1100100100Each of the above class of shares ranks pari passu on the sale, winding-up or dissolution of the company. Control
The company was under the control of Mr C Simpson throughout this and the previous year.2014-09-22Mr C J Simpsontruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureFastsigns (Leeds) Limited2013-01-012013-12-31Fastsigns (Leeds) Limited2012-01-012012-12-31Fastsigns (Leeds) Limited2011-12-31Fastsigns (Leeds) Limited2012-12-31Fastsigns (Leeds) Limited2012-12-31Fastsigns (Leeds) Limited2013-12-31 2014-09-22
