Accounts filed on 29-02-2016
Accounts filed on 29-02-2016
trueGKL Plumbing & Heating LtdSC2646322016-02-291115119286011161192960100100111611929608500025581162601456921092201031907711733684118931844003126643542449423358095502224059871061542502321034250232103Basis 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.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesMethod for Motor vehicles0.0000EquipmentMethod for Equipment0.0000845956025524340420932815213941845956025524340420932815213941Ordinary1001100100Ordinary1100100100Balance sheet Spare note 99 (user defined)TRANSACTIONS WITH DIRECTORS
The following loan to the directors subsisted during the year:
Mr Lough and Mr Hamilton
Balance outstanding at start of the year£-20000
Balance outstanding at end of the year£104
Maximum balance outstanding at end of the year£104
The above is due from the directors, is unsecured, interest free and has no fixed repayment terms.
2016-04-19Mr G Hamiltontruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGKL Plumbing & Heating Ltd2015-03-012016-02-29GKL Plumbing & Heating Ltd2014-03-012015-02-28GKL Plumbing & Heating Ltd2014-02-28GKL Plumbing & Heating Ltd2015-02-28GKL Plumbing & Heating Ltd2015-02-28GKL Plumbing & Heating Ltd2016-02-29 2016-04-25