Accounts filed on 30-04-2015
Accounts filed on 30-04-2015
trueKent Machine Services Ltd046333652015-04-301389051645211390051646211001001390051646211902324573460516957420407925876810491854514738017813015787118667510683713336236221309501481322363193588250223193588250223Basis 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
Turnover is the amount derived from ordinary activities during the year. It is stated after trade discounts, other sales taxes and net of VAT.
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 - 4 year straight line basis
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
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, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & MachineryMethod for Plant & equipment0.2000Fixtures & FittingsMethod for Fixtures & fittings0.2000Motor VehiclesMethod for Motor vehicles0.2000Leasehold PropertyMethod for Leasehold property0.05001075001075001075001075006435856561383315-1586844999740591548437-43557510857636383315-15868557497513415-435548437Ordinary1000110001000Ordinary11001001002016-01-13Mr T J Irelandtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureKent Machine Services Ltd2014-05-012015-04-30Kent Machine Services Ltd2013-05-012014-04-30Kent Machine Services Ltd2013-04-30Kent Machine Services Ltd2014-04-30Kent Machine Services Ltd2014-04-30Kent Machine Services Ltd2015-04-30 2016-01-13