Accounts filed on 30-06-2014
Accounts filed on 30-06-2014
trueUniversal Carbon Fibres Limited054473892014-06-301066762799629109576482863129002290021095764828631154001336802562111116484456110341627594943939104217431428072118123781653081728418361416806042792819589377002850677700285067Basis 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 comprises the value of sales excluding value added tax and trade discounts.
Depreciation
In the year of acquisition tangible fixed assets are depreciated from the beginning of the financial year.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Operating lease agreements
Rentals appicable 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.
Contributions to pension funds
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.
Deferred taxation
Provision is made on the liability method based on current tax rates for deferred tax assets and liabilities arising from all timing differences that have originated but not reversed at the balance sheet date. Deferred tax assets are recognised only to the extent that it is more likely than not that there will be suitable taxable profits from which the underlying timing differences can be deducted.Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Plant & Machinerystraight line0.2000Motor Vehiclesstraight line0.3300Computer Equipmentstraight line0.3300Leasehold Propertystraight line0.2000
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Where exchange differences result from the translation of foreign currency borrowings raised to acquire foreign assets they are taken to reserves and offset against the differences arising from the translation of those assets. All other exchange differences are dealt with through the profit and loss account.
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The company is a wholly owned subsidiary of Universal Carbon Fibres (Holdings) Limited.2014-07-29W CAPSTICKtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureUniversal Carbon Fibres Limited2013-07-012014-06-30Universal Carbon Fibres Limited2012-07-012013-06-30Universal Carbon Fibres Limited2012-06-30Universal Carbon Fibres Limited2013-06-30Universal Carbon Fibres Limited2013-06-30Universal Carbon Fibres Limited2014-06-30 2014-09-24
