Accounts filed on 31-12-2015
Accounts filed on 31-12-2015
trueCardigan Mercantile Company Limited000101392015-12-3168009063944410690901013444120001200037700036200010690901013444407061438347147615114517911458-824870043571107150148862356990358024886214746931460039693103914740001459000Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of contracts for on-going rental services, turnover represents the value of rent charged in the year, including estimates of rent not invoiced and rents deferred.
Investment properties
Investment properties are shown at their open market value. Any surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (2008) which, unlike Schedule 4 to the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.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.
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.
Fixtures & FittingsMethod for Fixtures & fittings0.000079597959726669203461474000145900015000148195914669591500072666920346407061438346269454317780Ordinary2500001250000250000Ordinary11200012000120002016-05-19Mr J M Partridgetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureCardigan Mercantile Company Limited2015-01-012015-12-31Cardigan Mercantile Company Limited2014-01-012014-12-31Cardigan Mercantile Company Limited2013-12-31Cardigan Mercantile Company Limited2014-12-31Cardigan Mercantile Company Limited2014-12-31Cardigan Mercantile Company Limited2015-12-31 2016-06-27
