Accounts filed on 31-12-2015
Accounts filed on 31-12-2015
trueJ. & G. Barclay and Company LimitedSC1464082015-12-312429242161442929242481445000032000292924248144336738293260248882-2444-2396634884573563244033390971315003130001691890295704272848279782267726272846Basis 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).
Intangible Assets
Intangible assets acquired separately from a business are capitalised at cost. Intangible assets
acquired as part of an acquisition of a business are capitalised separately from goodwill if the fair
value can be measured reliably on initial recognition, subject to the constraint that, unless the asset
has a readily ascertainable market value, the fair value is limited to an amount that does not create or
increase any negative goodwill arising on the acquisition. Intangible assets, excluding development costs,
created within the business are not capitalised and expenditure is charged against profits in the year in
which it is incurred.
Intangible assets are amortised on a straight line basis over their estimated useful lives up to a maximum
of 20 years. The carrying value of intangible assets is reviewed for impairment at the end of the first full
year following acquisition and in other periods if events or changes in circumstances indicate the carrying
value may not be recoverable.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
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.
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.
Land & BuildingsMethod for Freehold property0.0000Fixtures & FittingsMethod for Fixtures & fittings0.000027978227976309479309479417533663351203374573094812797641753366335120Ordinary320001320000Preference180001180000Ordinary1320003200032000Preference11800018000During the year 18,000 preference shares were issued at par value for cash.
2016-09-29Mr C S Barclaytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureJ. & G. Barclay and Company Limited2015-01-012015-12-31J. & G. Barclay and Company Limited2014-01-012014-12-31J. & G. Barclay and Company Limited2013-12-31J. & G. Barclay and Company Limited2014-12-31J. & G. Barclay and Company Limited2014-12-31J. & G. Barclay and Company Limited2015-12-31 2016-09-29
