Accounts filed on 31-07-2014
Accounts filed on 31-07-2014
trueNewgrove Limited (Formerly Newgrove Consultants Limited)027756182014-07-31-916665-790781-255901-13001727302730658034658034-255901-1300171069157961146813256831129-15824-1095129716724843981343138927812431388271001008290809406418034659060252561534616Basis 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).
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.
Research and development
Development expenditure meeting the criteria in FRSSE 2008 (Research and Development) is capitalised and amortised from the commencement of the commercial production or application of the product or service over the period of expected sale or use.
Other research and development expenditure is written off in the year in which it is incurred.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Research and Development - straight line over 5 years
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
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 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.
Plant & MachineryReducing Balance0.2500Fixtures & FittingsReducing Balance0.2500EquipmentReducing Balance0.3300
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
14079562180508211673-9842256044911274483-98422531423319206618991421521664511552981115316000222370422213825-9842257709421429781-984225325386Ordinary Class A2032120322032Ordinary Class B8621862862Ordinary Class C8331833833Ordinary Class A2231223223Ordinary Class C5015050Ordinary Class A1138513851385Ordinary Class B1657657657Ordinary Class C1415415415Ordinary Class A1223223223Ordinary Class C15050502014-10-09J F BOYLANtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureNewgrove Limited (Formerly Newgrove Consultants Limited)2013-08-012014-07-31Newgrove Limited (Formerly Newgrove Consultants Limited)2012-08-012013-07-31Newgrove Limited (Formerly Newgrove Consultants Limited)2012-07-31Newgrove Limited (Formerly Newgrove Consultants Limited)2013-07-31Newgrove Limited (Formerly Newgrove Consultants Limited)2013-07-31Newgrove Limited (Formerly Newgrove Consultants Limited)2014-07-31 2014-10-13
