Accounts filed on 31-05-2015
Accounts filed on 31-05-2015
trueArdsley Carpets Limited062568302015-05-31254637772548377922254837792548377975515391524514461160001600016000160001793224017932240Basis 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.
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.
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
Compound instruments
Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.
The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.
The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Plant & MachineryMethod for Plant & equipment0.0000Motor VehiclesMethod for Motor vehicles0.000092399239744669994479239923974466999447Ordinary1000110001000Ordinary12222016-01-22Mr D Gibbenstruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureArdsley Carpets Limited2014-06-012015-05-31Ardsley Carpets Limited2013-06-012014-05-31Ardsley Carpets Limited2013-05-31Ardsley Carpets Limited2014-05-31Ardsley Carpets Limited2014-05-31Ardsley Carpets Limited2015-05-31 2016-01-22
