Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
truePerformance Running Ltd072094002015-03-31-52434-43279-52432-4327722-52432-43277-52432-43277-58412-50197631845263747722440147518753297565598069204875585011051070Basis 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.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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-10% Straight line
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Going Concern
The company is still considered to be a going concern despite the accumulated losses. The director has personally lent the company £52,681 as at 31st March 2015. The loan will not be repaid until the company is in a stable position and making regular profits.
Fixtures & FittingsReducing Balance0.2500EquipmentReducing Balance0.250097509750487539009752305190340212008333671205511653402607547331342Ordinary2122Ordinary12222015-12-24Mr. Hughestruetruetruetruexbrli:sharesiso4217:GBPxbrli:purePerformance Running Ltd2014-04-012015-03-31Performance Running Ltd2013-04-012014-03-31Performance Running Ltd2013-03-31Performance Running Ltd2014-03-31Performance Running Ltd2014-03-31Performance Running Ltd2015-03-31 2015-12-24
