Accounts filed on 31-10-2015
Accounts filed on 31-10-2015
trueBUILDING SIMULATION LIMITED022490062015-10-312593116638260311673810010026031167384851383730882205756631-4061327622528139393212202838972332710230282941168524251246362425124636Basis 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.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.
Stocks
Agricultural livestock is valued on the basis of initial cost together with the direct costs of bringing to maturity. Bought-in deadstock and feed is valued at cost.
Work in progress
Work in progress is valued at the lower of cost and net realisable value.
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.
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.
Plant & MachineryReducing balance0.2000Fixtures & FittingsCost0.2000Motor VehiclesReducing balance0.2500EquipmentCost0.200055899479357964316482329983495589947935796431648232998349Ordinary1000110001000Ordinary11001001002016-07-20Mrs C Simpsontruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBUILDING SIMULATION LIMITED2014-11-012015-10-31BUILDING SIMULATION LIMITED2013-11-012014-10-31BUILDING SIMULATION LIMITED2013-10-31BUILDING SIMULATION LIMITED2014-10-31BUILDING SIMULATION LIMITED2014-10-31BUILDING SIMULATION LIMITED2015-10-31 2016-07-21
