Accounts filed on 31-05-2016
Accounts filed on 31-05-2016
trueRunning Yield Ltd042139742016-05-31247164229761247264229861100100247264229861407573428074654837657935-12110-1012851425606883931550560286521363645048424666947668063666947668063Basis 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.
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.
Investment properties
In accordance with statement of Standard Accounting Practice No. 19, certain of the company's
properties are held for long-term investment and are included in the Balance Sheet at their open
market values. The surplus or deficit on annual revaluation of such properties are transferred to
the investment property revaluation reserve. Depreciation is not provided in respect of freehold
properties. Leasehold investment properties are not amortised where the unexpired term is over 20
years.
This policy represents a departure from statutory accounting principles, which require depreciation
to be provided on all fixed assets. The directors consider that this policy is necessary in order
that the accounts may give a true and fair view because current values are of prime importance
rather than calculation of systematic annual depreciation. Depreciation or amortisation is only one
of many factors reflected in the annual valuation and the amount which might otherwise have been
shown cannot be separately identified or quantified.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.
Furniture0.00006846606846601771316597111668466068466017713165971116Ordinary1000110001000Ordinary11001001002016-10-24Mr P Sullivantruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureRunning Yield Ltd2015-06-012016-05-31Running Yield Ltd2014-06-012015-05-31Running Yield Ltd2014-05-31Running Yield Ltd2015-05-31Running Yield Ltd2015-05-31Running Yield Ltd2016-05-31 2016-10-24
