Accounts filed on 31-03-2014
Accounts filed on 31-03-2014
trueMats Direct UK Limited057456652014-03-311211975846812129758568100100121297585681212975856811650054796135976155879252476210675968547942812950128751426721183724797377247973772Basis 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).
Changes in accounting policies
In preparing the financial statements for the current year, the company has adopted the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company has adopted FRSSE2005 for the first time. This has not changed the basis for the preparation of the accounts and has not given rise to a prior year end.
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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
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.Plant & Machinery0.0000Fixtures & Fittings0.0000Equipment0.000012011101391872721463678471201110139187272146367847Ordinary1001100100Ordinary11001001002014-06-30Mr C Bleakleytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureMats Direct UK Limited2013-04-012014-03-31Mats Direct UK Limited2012-04-012013-03-31Mats Direct UK Limited2012-03-31Mats Direct UK Limited2013-03-31Mats Direct UK Limited2013-03-31Mats Direct UK Limited2014-03-31 2014-07-14
