Accounts filed on 30-09-2015
Accounts filed on 30-09-2015
trueOutside Studios Limited067103222015-09-30432812880643282288071143282288074328228807421072880740155570548226285861527953134929467545121175011750Basis 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 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 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.
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 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.EquipmentStraight line0.33335072331817543897331857950723318175438973318579Ordinary20.5011Ordinary0.50112Mr D J Mackie was owed £2,649 on his director's loan account (2014: £4,954) and is included in creditors. The loan is interest free and repayable on demand.
Ms C C Halcrow was owed £10,852 on her director's loan account (2014: £40,885) and is included in creditors. The loan is interest free and repayable on demand.2016-06-28Ms C HalcrowMr D J MackieDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureOutside Studios Limited2014-10-012015-09-30Outside Studios Limited2013-10-012014-09-30Outside Studios Limited2013-09-30Outside Studios Limited2014-09-30Outside Studios Limited2014-09-30Outside Studios Limited2015-09-30 2016-06-28
