Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueBoomerang Taxis Limited028467642015-03-31-12562-5157-12560-515522-12560-5155-12560-5155-18976-13581321392731913163137381164410974151927646416842664168426Basis 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 receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.
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-1/3 straight line
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.
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.
Motor Vehicles25% reducing balance0.0000Equipment15% reducing balance0.00002500025000250002500077306773067089068880201010230610230695890938802010Ordinary1000110001000Ordinary1222At the year end the director was owed £22,110 by the company (2014 - £16,067). The movement relates to expenses paid by the director on behalf of the company.2015-12-23H R Malekshahitruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBoomerang Taxis Limited2014-04-012015-03-31Boomerang Taxis Limited2013-04-012014-03-31Boomerang Taxis Limited2013-03-31Boomerang Taxis Limited2014-03-31Boomerang Taxis Limited2014-03-31Boomerang Taxis Limited2015-03-31 2015-12-23
