Accounts filed on 30-06-2015

trueEllesco Limited028952972015-06-302175219900102175319900725007250027500275001021753199002000002000003021755199002370064483691044351577224128135710255938526124957012771012304281516442994646516971531651667152833Basis 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 represents the total amount receivable by the company in the ordinary course of business with outside customers for goods supplied as a principal and for services provided, excluding VAT and trade discounts. 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-over 20 years Depreciation Plant & Machinery-10% per annum / 25% per annum Motor Vehicles-25% per annum Office Equipment-20% per annum Computer Equipment-25% per annum Leasehold improvements-over the remaining term of the lease Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 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. Pension costs The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. 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. Exhibitions Exhibitions take place approximately every two years. The attributable costs are charged to profit and loss account evenly over the period. Plant & MachineryStraight line0.1000Motor VehiclesStraight line0.2500Office equipmentStraight line0.2500Leasehold PropertyOver the remaining term of the lease0.0000 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 11250011250011250011250015586318169746793-726279069711016929180-4865245045044744726881329464746793-72627203644223116-4865229180Ordinary5000001500000500000Preference2000001200000200000Preference2000001200000200000Ordinary1725007250072500The preference shares are non-voting and do not carry the right to dividends. They are redeemable after 30 June 2016, at the option of either the company or the shareholder, at a premium of 3% per annum accruing from 5 March 2016. 2015-09-28Mr V L SimonisMr G R NewtonDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureEllesco Limited2014-07-012015-06-30Ellesco Limited2013-07-012014-06-30Ellesco Limited2013-06-30Ellesco Limited2014-06-30Ellesco Limited2014-06-30Ellesco Limited2015-06-30 2016-03-29