Accounts filed on 31-03-2015

trueH&C Gearboxes Ltd058962202015-03-311059415158115941615810001000115941615801280115941743863257954291472537235472333263154728201392551255269948452699484Basis 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. 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. Deferred taxation Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.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. Motor Vehiclesstraight line0.25001686016860115917376421516860168601159173764215Ordinary1000110001000Ordinary11000100010002015-12-17Mr P BirchMr J YussufDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureH&C Gearboxes Ltd2014-04-012015-03-31H&C Gearboxes Ltd2013-04-012014-03-31H&C Gearboxes Ltd2013-03-31H&C Gearboxes Ltd2014-03-31H&C Gearboxes Ltd2014-03-31H&C Gearboxes Ltd2015-03-31 2015-12-18