Accounts filed on 29-02-2016

trueMoncraft Limited023412422016-02-291309231409123100100140912314091231147-265261134323758316737914327422913637111262388262388Basis 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. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 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. EquipmentReducing Balance0.33001234712347120851195912612347123471208511959126Ordinary1001100100Ordinary1100100100During the year, the directors and 100% shareholders provided the company with a loan amounting to £1,366 as at 29 February 2016. This loan was not overdrawn at any point during the year.2016-10-28Mr B GirlingMrs C GirlingDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureMoncraft Limited2015-03-012016-02-29Moncraft Limited2014-03-012015-02-28Moncraft Limited2014-02-28Moncraft Limited2015-02-28Moncraft Limited2015-02-28Moncraft Limited2016-02-29 2016-11-03