Accounts filed on 31-07-2015
Accounts filed on 31-07-2015
trueTailend Restaurant (St Andrews) LtdSC3593572015-07-3151990845685199284570225199284570166348827679290332130447179784-96629-52353292995183316196366130963111815238845445520079106101879227076232137227076232137Basis 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 relates to commissions received through financial consultancy and letting agency fees. Income is accounted for on a receipts basis.
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.
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 where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
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.Fixtures & FittingsMethod for Fixtures & fittings0.2000EquipmentMethod for Equipment0.1500340186329150110361131109701316097340186329150110361131109701316097Ordinary A4001400400Ordinary B4001400400Ordinary C2001200200Ordinary A1111Ordinary B11112016-04-28Mr G Spinktruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureTailend Restaurant (St Andrews) Ltd2014-08-012015-07-31Tailend Restaurant (St Andrews) Ltd2013-08-012014-07-31Tailend Restaurant (St Andrews) Ltd2013-07-31Tailend Restaurant (St Andrews) Ltd2014-07-31Tailend Restaurant (St Andrews) Ltd2014-07-31Tailend Restaurant (St Andrews) Ltd2015-07-31 2016-04-28
