Accounts filed on 29-02-2016
Accounts filed on 29-02-2016
trueRevival Cars Limited083952222016-02-29-7463-14162-7363-14062100100-7363-14062-7363-14062-19710-2728929480302369770294751522151461879612347132271234713227Basis 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.
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.
Going concern
The financial statements have been prepared on a going concern basis, the validity of which depends upon the company's future profitability and the continued support of the company's directors and creditors.
If this basis were not to be valid, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets.
Motor Vehiclesstraight line0.2000249002080041001255375734980249002080041001255375734980Ordinary1001100100Ordinary11001001002016-06-01Mr D Keenetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureRevival Cars Limited2015-03-012016-02-29Revival Cars Limited2014-03-012015-02-28Revival Cars Limited2014-02-28Revival Cars Limited2015-02-28Revival Cars Limited2015-02-28Revival Cars Limited2016-02-29 2016-06-15
