Accounts filed on 31-07-2015


trueJane Beck Welsh Blankets Ltd081504222015-07-3125492155562549315557112549315557254931555711438-42872912837871405663358414711258347952993043002396140551984412800192001255644Basis of accounting The financial statements have been prepared under the historical cost convention, modified to include the revaluation of financial instruments, 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. 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-20% SL Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Finance lease agreements Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments. 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. Fixtures & FittingsMethod for Fixtures & fittings0.00003200032000192001280064002139110910308844654193413933109103020084132656819Ordinary1111Ordinary11112015-11-06Ms J Becktruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureJane Beck Welsh Blankets Ltd2014-08-012015-07-31Jane Beck Welsh Blankets Ltd2013-08-012014-07-31Jane Beck Welsh Blankets Ltd2013-07-31Jane Beck Welsh Blankets Ltd2014-07-31Jane Beck Welsh Blankets Ltd2014-07-31Jane Beck Welsh Blankets Ltd2015-07-31 2016-02-11