Accounts filed on 31-07-2015
Accounts filed on 31-07-2015
trueMC and SH Cawley Ltd056028722015-07-3110989090810109990909101001001099909091010999090910988867244339101244171379879686013798796860111041846719673111038794Basis 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).
Related parties transactions
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
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
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.
Plant & MachineryReducing balance0.2500Fixtures & FittingsReducing balance0.1500EquipmentReducing balance0.25009672196721967208704896723493629097583923833203033530131657125818583912055310735113202Ordinary5001500500Ordinary11001001002016-01-28Mr M C CawleyMrs S H CawleyDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureMC and SH Cawley Ltd2014-08-012015-07-31MC and SH Cawley Ltd2013-08-012014-07-31MC and SH Cawley Ltd2013-07-31MC and SH Cawley Ltd2014-07-31MC and SH Cawley Ltd2014-07-31MC and SH Cawley Ltd2015-07-31 2016-02-11
