Accounts filed on 31-03-2016
Accounts filed on 31-03-2016
trueOutset Publishing Limited024729322016-03-3116451001765220120120176522040000400004176540220-8752-123542388282713151307035947715366146535499350517525745051752574Basis 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.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.
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.
Land & BuildingsStraight line0.1000Fixtures & FittingsStraight line0.1000Computer EquipmentStraight line0.3300Leasehold PropertyStraight line over the life of the lease0.0100678186781817301152442057678186781817301152442057Ordinary `A'1001100100Ordinary `B'1011010Ordinary `C'1011010Ordinary `A'1100100100Ordinary `B'1101010Ordinary `C'11010102016-08-25Ms I M Dennistruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureOutset Publishing Limited2015-04-012016-03-31Outset Publishing Limited2014-04-012015-03-31Outset Publishing Limited2014-03-31Outset Publishing Limited2015-03-31Outset Publishing Limited2015-03-31Outset Publishing Limited2016-03-31 2016-09-05
