Accounts filed on 30-04-2015
Accounts filed on 30-04-2015
trueThe Natural Limestone Company Limited080155392015-04-3014558107211465810821100100146581082110668063728427589054150963580123371513622330218716325639167630207812976016557485853253127595325312759Basis 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Leasing and hire purchase commitments
Assets held under finance leases, which are leases where substantially all the risks and rewards
of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised
in the balance sheet and are depreciated over their useful lives. The capital elements of future
obligations under the leases and hire purchase contracts are included as liabilities in the balance
sheet.
The interest elements of the rental obligations are charged in the profit and loss account over the
periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.
Rentals payable under operating leases are charged in the profit and loss account on a straight line
basis over the lease term.
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 director considers 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.
EquipmentStraight Line0.3300Leasehold PropertyStraight Line0.33008944919138703113619663792981789449191387031136196637929817Ordinary1001100100Ordinary1100100100The company was under the control of Jean Smith throughout the current and previous
period. Ms. Smith is the managing director and majority
shareholder.
2016-01-15Jean Smithtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureThe Natural Limestone Company Limited2014-05-012015-04-30The Natural Limestone Company Limited2013-05-012014-04-30The Natural Limestone Company Limited2013-04-30The Natural Limestone Company Limited2014-04-30The Natural Limestone Company Limited2014-04-30The Natural Limestone Company Limited2015-04-30 2016-01-21
